FXTM Review

What can you trade?

When it comes to having your best interests at heart, nobody knows better than our review team how to identify a top forex broker. They feel that this is exactly what they have done with FXTM.

The blend of years of experience in the industry and a positive regulatory environment combine well to bring you a wide selection of more than 50 forex currency pairs you can trade. These include all the major pairs you would expect to find with a top broker along with a solid selection of minor and exotic pairs for more experienced traders.

The spreads in this area also remain competitive across all of the account choices with the option of selecting a commission-free style of account for a marginally higher spread, or choosing a micro-trading account if you want to ease into forex trading with the brand.

Another key area of focus was our FXTM CFD review. This uncovered a wide and impressive range of CFDs to be traded in a number of categories, including:

Each CFD category includes competitive spreads with very transparent costs and low fees. For example,  traders can trade stock CFDs with as little as $100.

Our review found that one of the strongest areas of FXTM from a CFD trading perspective is the number of stock CFDs they offer. This currently stands at 175 of the most recognizable company stocks from around the world. It is also a number that is growing all the time.

If you are interested in shares trading as CFDs then this is undoubtedly an excellent place to start. A dedicated FXTM shares account is also offered where you can focus only on stock trading.

Our UK review team were also pleased to note that this offering extends to all regulatory areas where FXTM offers service, including the UK.

A final key area where the review team felt that FXTM stood well above the crowd was in social trading. This type of copytrading has really taken off in recent years and it is something that FXTM have embraced quickly and with great professionalism.

If this type of trading interests you then the avenue is open to become involved either as an investor or as a strategy manager. From the investor side, you can start from as little as $100 and follow some of the most successful traders in the industry onboard a very professional and intuitively laid out system.

Our cryptocurrency review found a total of four major cryptos potentially available for trading, all in pairs against USD. These markets include Bitcoin, Ethereum, Ripple, and Litecoin and all are traded as CFDs.

Cryptocurrencies are only available to clients under Exinity Limited. Different entities under the FXTM brand offer different payment methods due to regulatory restrictions, based on the client’s country of residence.

What did our traders think after reviewing the key criteria?

With regard to fees from FXTM, our review team felt that they have done an excellent job in clearly communicating and being as transparent as possible when it comes to trading costs.

There are commission-free trading account options available. In fact there is more than one account type you can choose which is operating on a commission-free basis. These accounts also possess competitive spreads starting as low as 0.1pips on major markets.

With other FXTM account types like the ECN zero, you can benefit from even lower spreads with the addition of a commission which again our review team felt was clearly communicated if a little complex for new traders to understand.

There are several FXTM account types to choose from. Broadly speaking, these various account types can be classified into two primary categories: Standard Accounts and ECN Accounts.

ECN Accounts (including ECN Zero)

In a nutshell, an ECN account (Electronic Communication Network Account) gives traders access to different prices from a variety of providers directly on the trading platform. This means you’ll always be shown the best bid and ask prices that are available in the market. Some of the main advantages of ECN accounts include:

• Full transparency
• No re-quotes due to NDD (No Dealing Desk)
• High price volatility – great for scalping
• Trading facilitated outside of market hours

Standard Accounts

A Standard Account is the classic all-round account type for traders of all levels, offering traders a wide range of features and perks. Where, previously,  a Standard Account weighed traders down with a number of limitations, the Standard FXTM account offers a number of benefits that add to the trading experience. For more experienced traders, an FXTM pro account is also available on the ECN side with a minimum deposit of $25,000 though the minimum deposit on other types ranges from a more affordable $10-$500 depending on type.

When it comes to trading platforms, FXTM is firmly focussed on the ever-popular MetaTrader 4 platform developed by MetaQuotes Software. As always, MT4 is available for PC, Mac, mobile or tablet and provides the most in-depth access to the market in terms of charting capability and professionalism throughout the industry.

Alternatively, for mobile trading on-the-go with the FXTM Trader App; a mobile app available on both iOS and Android. While MetaTrader 4 may well be the gold standard trading platform for many Forex traders, the lack of support for MetaTrader 5 is definitely a mark against FXTM’s overall platform score.

Usability is a key point that out UK review team and others looked for when evaluating FXTM. We do not like an overly crowded or complex looking design and site and so were pleasantly surprised to see that despite all of the things available with FXTM, the site is very cleancut and easy to move around with no clutter.

This usability further extends to both the copytrading arm and the trading platforms both on mobile and desktop that FXTM chooses to work with. Less is more in today’s era of design and functionality and this is something that broker has a very good grasp on.

FXTM’s pedigree as an award-winning broker is supported by its exemplary customer support and auxiliary features. Traders will benefit from a wealth of educational material and a dedicated support team. Some of the more impressive customer support features include:

• Dedicated support in 18 languages
• A library of free educational and training resources
• Personalised support from a multilingual Account Service Manager
• A wide range of deposit and withdrawal methods

In addition, there’s also a live chat feature (available 24/5) where traders can contact the customer service team via live chat and popular channels such as WhatsApp, Viber, Facebook Messenger and more.

In line with the majority of brokers, FXTM offers traders plenty of deposit and withdrawal methods. Making a deposit or withdrawal is incredibly straightforward with the amount of payment methods on offer, including credit cards, bank transfer and e-wallets such as Neteller and Skrill. It’s worth noting that processing times vary depending on which method you opt for.

For regulatory reasons, leverage is offered on a variable basis, with the amount available depending on the knowledge and experience of the individual client. Leverage/margin requirements may be subject to change in accordance with applicable regulations in the client’s country of residence.

There are FXTM bonus offerings available on some occasions in certain parts of the world, although this does not currently apply, and as our review team well know, any CySEC regulated broker cannot offer bonus amounts to traders if they want to remain compliant.This is something that the brand takes very seriously and so, at the moment, there are no specific bonus amounts on offer.

This is one of the most important areas where any trader is concerned, so we are pleased to report that our review team was more than happy with the state of regulatory protection at FXTM, which is regulated and licensed in several jurisdictions. This includes the top-tier FCA (Financial Conduct Authority) in the United Kingdom, making it a safe broker for CFDs and trading Forex.

These regulators require FXTM to follow strict capital requirements, fully segregate traders’ accounts from company funds, adhere to strict anti-money laundering requirements and comply with ‘know your client’ procedures, as well as a host of other stringent measures designed to protect traders. All in all, FXTM should be considered a trustworthy and secure broker to open an account with.

FXTM has always been held in high esteem within the industry and this is demonstrated through their trophy cabinet where they have been decorated year after year.

FXTM has collected upwards of 20 accolades in the past 3 years alone including several “best forex broker” awards in a number of countries and from some of the most prestigious publications in the industry. Given the number of awards that FXTM has accumulated, it goes without saying that this is a well-respected and customer-centric broker that you can trust.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.