Most traders will satisfy this by sending a copy of their ID and one proof of residency document. I like that FXTM does not incorporate unnecessary steps or questionnaires. Traders in the FXTM Pro Account have https://forexhero.info/ no restrictions on trading strategies, can use the MT4/MT5 trading platforms, while the minimum transaction size remains 0.01 lots. FXTM offers traders a commission-free and commission-based Forex account.
Before you trade, AskTraders.
You won’t spend much time browsing options for trading forex online before you run into complaints about customer service. The FXTM Invest Strategy Manager account is a relatively new offering. FXTM’s copy trading program allows less skilled forex investors to mirror your trades and then you earn a percentage of their profits. You can earn up to 40 percent commission for each trader who profits by following your trading strategies.
- There is no commission or fees on any deposit method and to make a deposit.
- There are several deposit methods you will find available when trading at FXTM.
- Precious metals have traditionally been a hedge against inflation and geopolitical uncertainty, and some currencies are influenced by shifts in their value.
- Our review was particularly impressed with the content, and FXTM is frequently quoted on trading sites and in the media, recognized for providing high-caliber insights as partners.
ForexTime FXTM: Opening an account
FXTM will return funds to the payment processors used for deposits, and it appears that traders must withdraw profits exceeding them via bank wire only, which is expensive. Equity CFD trading is commission-free as Forextime joined the group of brokers catering to millennial and GenZ traders favoring no commissions. I want to stress once again that commission-free does not necessarily equal cheaper trading costs. Spreads are generally higher, often twice as high, than commission-based offers, and FXTM is no exception. I like the regulatory framework at FXTM, ensuring traders have access to competitive trading conditions and superior protection. FXTM is a member of the Honk Kong-based Financial Commission, where the Compensation Fund protects traders up to €20,000 per claim.
How many forex pairs are available to trade with FXTM?
FXTM’s Advantage account is designed for experienced traders, with spreads starting as low as 0.0 pips on EUR/USD and a commission structure that rewards bigger trading volumes with reduced expenses. The basic currency unit used is cents on this account type, enabling new forex and CFD traders to manage risk efficiently while dealing with lower lot sizes than other accounts available with FXTM. Beginning traders in the trading industry can benefit immensely from the FXTM Micro account.
The mobile trading app is perfect if you need to trade on the go from multiple locations. FXTM offers traders the MT4/MT5 trading platforms and has developed its proprietary mobile app, FXTM Trader. It upgrades MT4 with six plugins plus its Pivot Points Strategy, featuring live updates and commentary fxtm review from the FXTM Head of Education, and the mobile app is user-friendly and easy to use. They ensure traders have an edge versus the out-of-the-box versions most brokers offer. The MT4&5 platforms are quite intuitive to use and can readily be mastered by opening a demo account to practice in.
This trusted regulation, a competitive range of trading costs, and the availability of more than 250 assets to trade, continue to make FXTM a popular choice for all. The owner(s) of this website may be compensated to provide opinions on products, services, websites and various other topics. Even though the owner(s) of this website receives compensation for our posts or advertisements, we always give our honest opinions, findings, beliefs, or experiences on those topics or products.
Also, the FXTM UK brand is licensed by the Financial Conduct Authority known as sharp regulator, which has principals built by European MiFID and ICF allowing cross-broker activity. The broker serves a global audience from over 150 countries, with a global network of offices, spanning Europe, Africa, and Asia. The company launched in 2011 with its headquarters in Cyprus (Limassol). The chain of FXTM offices is also established around Europe, located in the UK, and maintains an entity in South Africa. Also authorized by Financial Conduct Authority and other regulators, In a relatively short time, the firm showed great and rapid growth within Europe and beyond through its focus on Africa and Asia regions. Withdrawal times at FXTM vary depending on the method used; e-wallet withdrawals are often handled within 24 hours.
With the FXTM Advantage account you can expect lightning ECN style execution alongside a good value minimum deposit of $500 or 80,000 NGN. Trading on this account type is available through both MT4 and MT5. An excellent and frequently chosen option for new traders and those seeking to lower risk is the FXTM Micro Account. The minimum deposit here starts from just $10 or 10,000 NGN which makes it extremely accessible to traders. As a copy trader, you will also be glad to find the FXTM proprietary copy trading platform available.
You’ll need to add personal and tax information to your profile, upload photos of some ID and, finally, make a deposit. Please note that the BTC withdrawal can be made only to the BTC wallet with which the funds initially were deposited, and only up to the amount deposited in BTC. We kindly ask you to send your FXTM ID to our email address Our agents will check the information and help you with the withdrawal process. Hypothetically, you’ll select an open price of $1.1200 for the EUR/USD exchange rate and choose the position size of 2.5 lots. The contract size for EUR/USD is the standard 100,000 units, and the commission rate is set at $5 per lot. It’s worth noting that, according to the Advantage MT4 account terms, FXTM applies double the commission when a position is opened and nothing on the close.
Please do get in touch with us at any time if you need any assistance. The minimum deposit amount required to register an FXTM live trading account ranges from $10 USD – $500 USD. FXTM also does not offer a welcome bonus, deposit bonus, or the advantage of a no-deposit bonus when traders register a real account for the first time. FXTM’s headquarters are located in Cyprus, a central hub for forex trading. The company was founded there in 2011, partly due to the favorable trading environment and regulatory framework offered by Cyprus as a member of the European Union.