MT4 can be downloaded for PC and Mac, and can also be downloaded from for Android and iOS devices, including smartphones and tablets. With a user-friendly interface, MT4 is perfect for new and experienced traders. The company’s market research team provide expert technical analysis and regular market updates. Could FXTM MT4 be the best Forex trading platform available at the moment?
- Great customer support and excellent service
- Popular and easy-to-use trading platform
- Comprehensive analyses available from expert advisors
- MT4 supports all major trading instruments
Overview of FXTM MT4
In Forex trading FXTM is acknowledged as one of the world’s top-ranking brokers. In fact, the company has risen to become a leading retail Forex and CFD broker in a relatively short space of time– since 2011. As the Forex market is so competitive, newer companies can often struggle to get their head above water, but the combination of several different factors has made this company popular among retail traders. FXTM has managed to exceed its clients’ expectations by simply providing a tried and tested Forex trading platform, MT4, a significant indication of the company’s commitment to ensuring quality customer support and satisfaction.
FXTM Forex trading accounts are suitable for investors who wish to make smaller deposits as well as those who want to deal with larger sums via several different accounts.
Based in Cyprus, FXTM has a valid regulatory license from the Cyprus Securities and Exchanges Commission (CySEC). This is a financial regulatory organisation which is authorised by the EU follows a standard framework derived from the Markets in Financial Instruments Derivatives (MiFID) of the European Union.
At the moment, FXTM does not accept clients from Australia, Canada, Japan or the USA. This is because the broker does not have any branch establishments in these countries or any regulatory licenses, such as those issued by the IIROC (Canada), the FSA (Japan) or the NFA (US). In the future, however, it’s likely that FXTM will try to expand its services to North America and several parts of the Asia-Pacific.
Ease of Use and Accessibility
MT4 is famed for being easy-to-operate and a flexible platform for trading. With access to a wide range of handy instruments it can be used to analyse quotes, close deals and test potential trading strategies.
Traders from around the world can use the MT4 platform and all available data in their chosen language, so it’s very accessible. MT4 has 31 analysis tools that help the user to build channels, detect cycles and support/resistance levels, and also identify financial instrument price trends, among many other useful features.
There are three different types of order execution available on MT4:
- Instant execution
- Market execution
- Request execution mode
With a built-in email service, MT4 allows traders to receive notifications from FXTM straight to their platform, although attachments are only supported in MT5.
When it comes to charts, MT4 provides pre-set templates and allows traders to simplify and tailor these by editing colours and styles. Unwanted features can be deleted and additional information on trading is easily accessible.
MT4 features a simple Orders Indicator that allows traders to monitor their trades and analyse the activity of other traders. It displays trades on the chart, indicating where a trade was opened and closed, and whether a profit or loss was made. Results are shown in currency and pips. The Spread Indicator is a handy, adjustable feature that displays the current spread value in pips on a chart for specified timeframes.
Best Forex Broker
When considering a Forex broker, traders generally read reviews and check relevant articles to find a broker comparison that notes the advantages and drawback of trading with different companies. The trading platform offered by a broker also makes a big difference and MT4 has remained the most popular, even when the upgraded MT5 was launched. FXTM makes both platforms available to its clients for a wide range of devices, including mobile phones and tablets.
FXTM offers a Standard Account and a Shares Account as well as ECN Zero, ECN Account and FXTM Pro. The broker is also keen to provide for newcomers to the Forex industry and small depositors, and it designed a specific account to meet the needs of these users. The Cent Account is most suitable for clients who wish to trade with a lower deposit and is ideal for individuals who want to trade but cannot risk losing a lot of money. This account provides a transitionary experience from demo accounts to real accounts by allowing traders to familiarise themselves with the Forex account before trading with larger sums of money.
FXTM also has a good track record in customer service. Their support operatives and personal account managers are multilingual and there are specialists providing trading and technical support at any time. Customer service is an important element when choosing a broker as traders prefer a trading environment that is encouraging and well-informed.
Forex Trading Platform Comparison – MT4 vs MT5
The really valuable features of a trading platform are those which help traders to quickly analyse the financial markets and place their trade orders as swiftly as possible. Most brokers have bespoke trading platforms and many also offer some choice. Traders can also use independent platforms, although these are probably more suitable for experienced traders rather that relatively new ones.
When making a decision, traders normally look for information such as whether or not historic and current market data is available. They might also consult visual aids, such as charts and graphs, to plan their strategy. In addition to this, a platform which allows investors to execute a trade immediately is important and platforms with automated trading can ensure this can be done at once.
FXTM provides a very useful comparison between MT4 and the recently upgraded MT5, setting out the features of MT4 and demonstrating how some of these have been enhanced. For instance, MT5 has:
- 38 technical indicators compared to 30 on MT4
- 44 analysis tools compared to 31 on MT4
- Six types of pending orders compared to four on MT4
- 21 group quotes of financial instruments in time intervals compared to 9 on MT4
While it’s true that MT5 now has additional features, and is very much an all-singing-all-dancing platform, traders have become very used to MT4 and like what they can achieve on it. Because of this, it seems that existing traders will probably stick to MT4 despite the new features of MT5.
FXTM Trading Instruments
Forex or currency trading is the most common form of trading and FXTM provides opportunities to trade in major, minor and exotic currency pairs.
Major currency pairs are the most popular and the most liquid pairs, with the US dollar always positioned as one half of the pair. Examples include the EUR/USD and the USD/JPY. Minor currency pairs do not include the US dollar, but they do contain the remaining major currencies: the EUR, JPY and GBP. Exotic currency pairs are not as widely traded as the majors and minors – these are currency pairs made up of a major currency pair coupled with the currency of a developing economy and might include, for example, the Hong Kong dollar or the Norwegian kroner – USD/HKD and the USD/NOK respectively.
Traders can simply download the FXTM MetaTrader and choose from more than 50 currency pairs. There are mini lots and standard lots to choose from and investors are advised to choose a lot size that reflects their experience and investment level. FXTM has tight spreads, starting at 1.3 on the Standard MT4 trading platform, and from 0.1 and 0.2 on the ECN MT5 and MT4 platforms. FXTM clients can trade at a time that suits them as trading services are available for 24 hours every day, five days a week.
FXTM Resources For Education
Starting at the most basic level, FXTM has a comprehensive beginner’s guide to Forex trading which explains what Forex is and what it does. It helps new traders to learn about:
- Currency pairs – majors, minors and exotics
- Spreads and Pips
- Long and short positions
- Forex charts and how to read them
- Trading instruments and how to use them
- Available tools and what they can do
There is also a glossary that explains key terminology so that new traders can better understand how trades work and how the Forex market functions. In addition to the guide and glossary, FXTM makes good use of multimedia, including videos, webinars and online resources such as eBooks and articles.
As with most brokers, FXTM offers a Demo account for practice purposes and has an account which allows investors to make small deposits if, for example, they are transitioning from a demo account to the real thing.
Forex seminars help traders to understand the markets, to be aware of the potential risks involved, and to be prepared. The broker offers educational seminars and workshops in various regions across the globe for investors and traders with various levels of experience.
Participants gain from the opportunity to network with other traders in the region and to learn from industry experts. They can also benefit from enhanced insights into complex trading strategies, risk management practices and emerging trading terminology.
FXTM The Multiple Award Winner
As an international brokerage, FXTM has achieved awards in all the key segments related to its work, and its award history tells the story of the company’s rapid rise to the top.
Early awards were made for Fastest Growing Forex Broker awarded by Mena, and the Best Forex Newcomer awarded by World Finance, both in 2013.
By 2015 FXTM was awarded Fastest Order Execution by Forex Trader Awards and by 2017 the company won the Forex Broker of the Year award by Global Investor Mena.
All in all, a number of aspects of the broker’s business have attracted interest and accolades, including:
- Most Innovative Broker 2018
- Best Customer Service Global 2017 and 2016
- Best Sell-Side Analysis Contributor 2016
- Best Affiliate Programme 2015
FXTM has also won Best Forex Broker awards for individual countries and regions including Russia (2018), Asia (2017 and 2014), Nigeria (2017 and 2016), Middle East (2015), Dubai (2015) and Eastern Asia including China (2015).
FXTM regards its award successes with a great deal of pride. The company has declared a mission to provide a superior trading experience to both corporate and retail clients around the globe, and considers the awards as a testament to the hard work and dedication which the broker practices in every area of its business.
FXTM Review: A Professional Trading Experience For All
FXTM is a successful Forex broker that has single-mindedly concentrated on developing a reliable trading platform while also working to ensure that every one of its traders can utilise a streamlined, professional trading experience. MT4 remains one of the world’s favourite trading platforms and FXTM MT4 is used by the majority of the broker’s clients.
The MT4 platform is readily accessible on all electronic devices, and is optimised for smartphones and tablets as well as laptop and desktop computers.
In addition to Forex, FXTM trades CFDs on commodities, shares and indices and spot metals. The company provides genuinely useful help for beginners, including useful education articles, videos and Forex trading webinars and seminars. There is a beginners’ guide to trading Forex and a Forex glossary to assist new traders with unfamiliar terminology.
All in all, FXTM is a solid, reliable broker and the FXTM MetaTrader platform is robust and dependable.