FXTM is a leading foreign exchange and CFD (contract for differences) broker site. It’s popularly known for offering a wide range of markets and 6 account types. Thus allowing them to serve all levels of traders. Broker FXTM review 2021 (Forex Time) was started in 2011.
It offers an incentive to earn profits through active training or investment programs. The company is well regulated by CySEC (Cyprus Securities and Exchange Commission). South African FSCA (Financial Sector Supervision Authority), UK FCA (Financial Conduct Authority), and FSC ( Mauritius Financial Supervisory Commission ).
The broker has received many awards including, “Best Trading Conditions”. (2018, 2019) and “Most Innovative Broker”. In order to be in coordination with Traders Union, a trader needs to open a trading account with a referral FXTM trading link or make use of the guidelines for connecting an already opened account to receive discounts.
FXTM Trading Platform
As said Forex Time provides a wide range of platforms to trade, Desktop or laptop users can opt from Metatrader 4 or Metatrader 5. These are the top priority list platforms one must go to, since they have an excellent reputation in trading, with an excellent reputation. This platform, Metatrader 5 however is not available for small screen users. Well small screen users can easily go for Metatrader 4. Both t5he versions are easily navigating and include many shortcuts which assist in opening and/or closing trade transactions fast and in a straightforward manner.
- More transactions processed.
- The editing function for sales, as well as an increased number of pending orders are available.
- Increased number of technical indicators – 38, graphical objects – 44 and time frames – 21.
- It also incorporates an economic calendar.
- It has a very detailed and intriguing community chat figurine, which permits traders interacting with one another.
Mobile and other small screen users can always take advantage of the Metatrader 4 app which is customized for android and iOS devices. MT4 is also compatible for PC’S and MACs. It is a software–free version that’s completely web-based. This means traders can easily just log in and get on board with trading. No need to download anything.
Assets and Markets:
The financial instruments offered by FXTM differ with the residence and nationality of the trader. FXTM offers opportunities and incentives to trade in the following markets:
- Foreign exchange
- Contact for differences for Indices and Commodities (FTSE, DAX, Nasdaq etc)
- Spot Metals like Gold and Silver.
- Shares of CFDS (Apple, BP, Google, etc. )
FXTM traders have graciously rolled out 11 new magnificent currencies and stock basket indices, split between 6 foreign exchange Indices and 5 stock Indices. He FX Indices are known for tracking leading economic currencies. On the other hand stock Indices track down retail spaces, such as vegan-related firms. These are always a great opportunity to trade and discover innovative, new financial instruments with competitive trading situations.
Spreads and Commission:
The commission percentages and brokerage share are comparatively lo9w for forex traders. They are also relatively low around the industry average for CFD trades. With Electronic Communication Network account options, spreads and pay can be as low as zero pips, alongside low commissions of 0.2$ per lot. According to the Standard Account, gaining momentum starts a little higher but still remains extremely competitive. In this context, FXTM is an extremely brilliant provider to assess trade with. One thing to be noted here, Spreads are variably floating and they may increase to a higher level during particular periods of the day completely as per the market conditions.
The company also introduces a number of ad hoc charges that, if applied correctly can turn them into an expensive choice. For example, there is also an inactivity fee, which simply means that once your account remains dormant for quite a period of time, a charge is instantly imposed.
Leverage or Gearing:
Leverage rates vary hugely depending on the trade being taken into consideration. The average of major Forex pairs is set at 1:30. These preclude major pairs, such as EURUSD. This is a stage charged and imposed by ESMA regulatory body and is almost same across most brokers under this body. For rarely traded minor pairs, leverage is set at 1:20. Such pairs specifically include AUDCAD, EURNOK, EURAUD, NZDUSD, EURPLN and USDSGD.
Advantages of using FXTM for trading-
- A wide range of trading accounts to access.
- A large number of instruments for training.
- The ability to make use of automated programs and solutions intra trading.
Disadvantages of using FXTM for trading-
- Delayed withdrawal of funds periodically.
- Copy trading is only offered for investments.
- Higher in speed and better Customer Care.
- It is closed on Saturday and Sunday.
- There is no PAMM account type otherwise it just malfunctions.