Top Options
/ 100
Type of Broker: Forex
Regulated: CySEC, FCA & IFSC
Min Deposit: 200
US Clients:
Number of Assets: 1000+
Free Demo Account:
Payment METHOD NAME Charge Time

Full Review

Here’s a full review of award-winning global forex broker FXTM. This in-depth review covers everything you need to know about FXTM, so if you’re an investor currently searching for the ideal broker, then check them out here.

FXTM tabletBackground

FXTM was founded back in 2011 and has since gained a reputation as “the global broker with the local touch”. The broker based in Cyprus now boasts over 1,000,000 registered user accounts, as well as a growing collection of awards. They are currently thought to be one of the fastest growing brokers in the industry and now have offices in 18 countries with plans for more growth. Using exceptional trading tools and advanced education access they aim to provide state-of-the-art trading conditions. They have also put their focus on localizing their products and services in order to suit each market and maybe most significantly they have focused on the importance of time, they believe that in the oscillate world of financial markets, time should be invested wisely.

Regulation and safety

FXTM is a regulated forex broker. It’s regulated by FCA, ICYEC, IFSC; and governed by MiFID. There is also protection of funds under financial services compensation scheme and segregation of client funds, the funds are kept in prominent EU banks.

Forexbrokers.com has given them a trust score of 70. They use factors such as whether companies are regulated, the number of years in business etc to work out the trust score. They also score 8/10 on TrustPilot.

They are also committed to providing complete transparency and strict financial standards, as well as periodically submitting financial reports to regulators.

Payment methods

There are a variety of payment methods available at FXTM. These include credit/debit card payments, bank wire transfer and also multiple e-wallets: Skrill, Neteller, Alsfa-click, WebMoney, Western Union and more.

FXTM also has a low minimum deposit at only $5.

Customer support

The forextime website has a ‘get help’ section where they offer site search and faqs and a contact form. Another form of customer support offered is the website’s ‘chat with us option’, this option offers live support through live chat or call back as well as popular social media channels such as Whatsapp, Viber, Facebook messenger, and Telegram. Having so many social media options for customers to access live chat makes customer support widely accessible for all customers.

The long-standing brokerage claims to offer exceptional client service that includes multilingual customer support and personal account manages (the website currently has 18 languages available), as well as trading and technical support. FXTM also offer exclusive privileges for their VIP clients.

Trading platform

The popular broker supports MetaQuutes platforms, MT4 and MT5. These are available on desktop and web versions, as well as mobile versions for both ios and Android devices.

FXTM using No Dealing Desk (NDD) technology means they are able to work with a variety of liquid providers in order to provide clients with the best bid and price asks

Trading account types

  • Standard accounts- including Standard, CENT and Shares account.
  • ECN accounts – including, ECN MT4 account, ECN MT5 account, ECN ZERO account, FXTM pro MT5, ECN Zero MT5.

Leverage

FXTM determine clients leverage responsibly according to a client’s level of knowledge, as well as experience in trading. This is evaluated by an appropriateness assessment.

When trading with FXTM, clients must maintain a minimum level of funds in their account, the necessary margin requirements (good faith deposit). Calculating and understanding the requirements before starting trading allows you to have good risk management, you can then avoid margin calls causing a change of position if there’s not enough margin in your account.

The leverage or margin requirements can change due to applicable regulations depending on your country of residence. The leverage is limited to 1:30 maximum. The maximum leverage is slightly lower for cryptocurrencies due to the volatility of them.

FXTM offers maximum and flexible leverage.

FXTM Homepage

Trading tools

  • Market Analysis – FXTM has a forex news portal providing extensive market analysis and insights making it easier for clients to keep up-to-date with current markets. There is also live market news available on the MetaTrader trading platform, directly providing reliable market news. Their Economic calendar will help with keeping updated on major economic indicators and news with alerts available when they happen.
  • Trading signals – Registered users have access to trading signals which s a technical analysis tool. This can provide superior quality data as well as assessments of market fluctuations across a wide variety of financial instruments.
  • Pivot Point strategy – FXTM’s Pivot Point Strategy combines the client’s choice of five pivot point calculations and three popular technical indicators. The tool is used to better your trading strategy and actuate market sentiment.
  • Currency converter – FXTM provide a free currency converter that calculates the foreign exchange rates of FX currency pairs.
  • Calculators – There is a margin calculator available for managing your risk, Pip calculator used to estimate potential profits or losses before committing to trading a currency pair, Profit calculator which helps makes you aware of a trading positions profits or losses at a range of market prices.

How to sign up

If you’re a new trader, you may want to start off with a demo account and trade risk-free before trying the real thing. I managed to set up an MXTM demo account within a few minutes on my PC. I provided my full name, email address, and mobile number, as well as the country of residence. Instructions and login details for my demo account were emailed to me straight away. Overall it was a fairly simple process.

If you’re an experienced trader or ready to try the real deal, then it’s just as simple to open up a normal trading account. Understandably you have to provide a few more details on the sign-up form when opening a live account, but other than that the process is no more complicated than it is for a demo account.

The help and live chat feature are also accessible throughout the registration process, which is really useful if you’re not sure what you’re doing.

FXTM Profile

Advantages

  • Trade on-the-go whenever you want with FXTM mobile trading app.
  • More than seven different types of trading accounts, allowing customers to choose the account that suits their requirements giving a more personalized
  • Education features – There are a variety of tutorials and webinars available for all account holders. They have tutorials available for both beginner and experienced traders and their live webinars are presented by industry experts.
  • Long-standing company – being founded back in 2011 means that FXTM has already built a reputation for themselves and had has grown into an award-winning forex broker in that time.
  • Organizes regular promotions and trading contests, as well as a $30, welcome bonus of tradable credit when you join.
  • Fast payment – Transactions executed immediately on FXTM, taking away any worry delays interfering with trading activity and ensuring clients are getting the best prices.
  • Trade a variety of different instruments. These include Forex, Spot Metals, Share CFDs, CFDs on commodity and CFDs on indices.
  • FXTM provide a $1,000,000 free demo account, which is great for beginner traders who want to gain some experience before putting their money at risk.

Disadvantages

  • No significant disadvantages found.

If you already have an account with FXTM, add to our lists in the comments.

Conclusion: Is FXTM a good place to trade?

The fact that there were no significant disadvantages of FXTM found in the review almost answers this question itself. I would conclude that FXTM is a good place to trade, there is good user-interface making everything easy to find and navigate your way around the platform; the website’s bright color and bold print also helps users navigate around the website easily. Being a long-standing brand that has already gained trust and become an industry leader also speaks for itself. Trading with FXTM is simple whether you’re an experienced trader or completely new and the already popular broker is defiantly playing its part in making trading an option for the many rather than the few.  That being said, just because no disadvantages were found during the research for this review, it doesn’t mean that there’s any lower risk in trading.