FXTM

FXTM (trading under ForexTime Limited) is a multi-award-winning, leading Forex and CFD broker. Regulated by several financial authorities, including the top-tier Financial Conduct Authority (FCA) in the UK, FXTM not only provides a safe and secure place to trade but an industry-leading experience for traders of all levels. In this FXTM broker review, we’ll be taking a look at everything you need to know about this broker, including account types, regulation, trading platforms and more.

FXTM Review Navigation

• Trust and Regulation
• Offering of Tradeable Products
• Fees/Commissions
• Trading Platform
• Mobile Offering
• Education
• Research
• Customer Support
• Overview

#1 Forex

FXTM offer 63 forex currency pairs you can trade and include all the major pairs with a solid selection of minor and emerging market pairs for more experienced traders.

The spreads for Forex are not the most competitive in the industry, with the EUR/USD spread at a minimum of 1.6 pips for the Standard account, with 1.9 pip typical. For the ECN account the minimum is a far more competitive 0.1 pips with typical 0.3 pips.

#2 CFD

The overall offering of CFDs is not particularly impressive for a broker of FXTM’s stature. There are only 8 commodities to choose from; Silver quoted in two currencies, Gold in three currencies, Brent and Crude Oil and Natural Gas.

On the stock index side, there are the usual global indices, but these only number 11.

For individual stocks, there 123 US and 50 European stock CFDs, which again is far from an exhaustive list.

#3 Stocks

As highlighted above there are the typical global averages, but only 11 to trade.

On the individual stock side, there are 50 European stock CFDs and 123 from the US, which again is far from a comprehensive offering.

A dedicated FXTM shares CFD account is offered where you can focus only on stock trading.

#4 Social Trading

All non-UK clients can use FXTM Invest, a social trading service and this is an area where FXTM does provide a strong service. You can get involved either as an investor or as a strategy manager. From the investor side, you can start from as little as $100 and follow other successful FXTM traders on a professional and intuitively laid out system. Investors can copy Strategy Managers’ trades. You have the option to filter Strategy Managers based on various factors, including success rate, risk level and overall profit. Strategy Managers area able to earn commission on winning trades.

#5 Crypto

There are only four major cryptocurrencies available to trade with FXTM, all against the USD. These are Bitcoin, Ethereum, Ripple, and Litecoin and all are traded as CFDs.

Actual cryptocurrencies are not available to buy outright.

Trust and Regulation

FXTM offers a solid state of regulatory protection, 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 Forex and CFD trading.

FXTM are also regulated by the Cyprus Securities and Exchange Commission (CySEC), the Financial Services Commission of Mauritius (FSCA), plus licensed by Financial Sector Conduct Authority (FSCA) of South Africa

As with all brokers, 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. Overall, FXTM is considered a trustworthy and secure broker.

Offering of Tradeable Products

The offering of tradeable products is not particularly impressive, given the strong position FXTM holds in the industry.

They offer 63 forex currency pairs, but only 8 commodities pairs, which actually number only two precious metals versus different currencies, Brent and Crude Oil plus Natural Gas.

There are the usual global stock indices, but only 11 to choose from and for individual stocks, there 173 US and European stock CFDs, which is far from an exhaustive list.

For cryptocurrencies there are only four available to trade with FXTM, Bitcoin, Ethereum, Ripple, and Litecoin CFDs.

Fees/Commissions

With regard to fees from FXTM, there are varying fees dependent on the type of trading account that you decide to open.

There are a number of different types of FXTM accounts to choose from, but generally speaking, these account types fall into two categories, the Standard Accounts and the ECN Accounts.

For the Standard account the spreads are wider than the industry standard, with the EUR/USD spread at a minimum of 1.6 pips, with 1.9 pips typical.

For the ECN account the minimum is a far more competitive 0.1 pips with typical 0.3 pips, but there is also a $2 per lot commission to factor in as well.

For more experienced traders, an FXTM Pro account is also available on the ECN side with a minimum deposit of $25,000 with no commission and spreads as tight as 0 pips.

Non-trading fees

FXTM has not insignificant non-trading fees. You will be charged $5 per month after six months of inactivity and most withdrawal methods also have a fee. However, the are no account or deposit fees.

Trading Platform

When it comes to trading platforms, FXTM only offers the popular MetaTrader 4 platform. MT4 is available for PC and Mac, with desktop of web-based versions. The lack of support for MetaTrader 5 is definitely a mark against FXTM’s overall platform provision.

Furthermore, given the stature of FXTM in the broking industry, the absence of even a white labelled, in house trading platform is somewhat disappointing.

On the platform in the My FXTM area there are some useful trading tools. These include an orders indicator, pip value calculator, pivot points strategy amongst others.

Mobile Offering