The 2011 founding of the international CFD and FX broker FXTM or ForexTime. It is governed by a number of financial agencies, including the Cyprus Securities and Exchange Commission and the UK Financial Conduct Authority (FCA) (CySEC).
FXTM is regarded as secure due to the FCA’s strict regulation.
Disclaimer: Due to leverage, CFDs carry a significant risk of losing money quickly. When trading CFDs with this supplier, 77% of retail investor accounts experience a loss of capital. You should think about your understanding of CFDs’ operation and your ability to bear the substantial risk of financial loss.
Pros and downsides of FXTM
Fast and pertinent responses are provided by FXTM customer care. They are reachable in a number of languages. Numerous educational resources are available, such as live webinars and demo accounts. Opening an account is quick and entirely digital.
On the negative side, FXTM has high CFD costs. Additionally, a withdrawal fee is usually charged as well as an inactivity cost. Due to the absence of some asset classes like ETFs, bonds, mutual funds, etc., the product portfolio is restricted.
Pros
• Top-notch customer support
• Excellent teaching resources
Cons
• High CFD fees
• Fees for inactivity and withdrawal
Are FXTM Safe and Reliable?
As a highly regulated broker with licenses in numerous jurisdictions, including the top-tier financial center of London, FXTM is a reliable, secure, and safe option. Its UK license may entitle account holders to state compensation in the event of broker insolvency of up to £85,000.
As it grows throughout Africa, Forextime is also obtaining a regulatory license in Kenya. FXTM stopped operating its retail business from its CySEC-regulated entity on February 26th, 2021. It gave as justification the European Securities and Markets Authority’s (ESMA) anti-competitive regulatory framework. Trade with any of the other subsidiaries is permitted for EEA clients.
I appreciate FXTM’s regulatory system, which guarantees traders have access to favorable trading circumstances and top-notch protection. FXTM belongs to the Financial Commission of Hong Kong, whose Compensation Fund offers dealers protection up to €20,000 per claim. It is the same as what CySEC provides but without the regulatory limitations.
Select performance metrics are also audited by PricewaterhouseCoopers Limited (PwC), and FXTM continues to be one of the more open brokers. I salute them for concentrating on the trading environment and giving clients a clear advantage.
Safety
Several financial regulators, including the top-tier FCA, oversee FXTM. Although it has a strong reputation, it is not listed on any exchange, doesn’t release financial data, and doesn’t have a bank parent.
Pros
Protection against negative balance
• Is governed by the FCA.
Cons
• Is not a banker licensed to operate
• Not a stock exchange listing
• No publicly accessible financial data are available.
Is FXTM governed? In fact, it is overseen by the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Republic of Mauritius’ Financial Services Commission (FSC). The South African Financial Sector Conduct Authority (FSCA) has also granted a license to the ForexTime Limited business.
Cyprus is the home of FXTM, which was established in 2011. FXTM is it safe? We strongly suggest you to look into the broker’s background and how you are protected if something goes wrong in order to be sure.
Withdrawal fees for FXTM
Depending on the withdrawal payment option you choose, FXTM has different withdrawal costs.
Each broker has its own unique withdrawal policies that govern how money can be taken out of trading accounts.
This is due to the fact that every brokerage house will have a distinct withdrawal process, and every payment provider may have various transfer processing costs, processing delays, and potential currency conversion fees. Your base currency, your receiving currency, and your payment provider all affect the conversion fee.
For instance, FXTM enables you to withdraw money through Skrill, Neteller, Visa, MasterCard, debit cards, and bank wire transfers.
Inactivity Fees for FXTM
There are no fees associated with inactive accounts at FXTM.
A fee is assessed to the registered brokerage client known as an account inactivity fee.
According to the terms and conditions of the accounts, clients may be required to comply with certain trading activity requirements set forth by brokers.
An inactivity fee could be owed if a client’s trading account doesn’t engage in any buying and selling for the predetermined amount of time set by the broker.
Online trading accounts are not the only ones that incur inactivity penalties. There may be inactivity fees levied by several financial service providers. Make sure you are informed of and satisfied with all the services and costs you can be charged by visiting the broker’s website.
Close your trading account if you are no longer using it by contacting the broker’s customer service. A certification that any outstanding fees are not owed should also be obtained.
You may only be assessed an inactivity fee under specific conditions, depending on the type of account you have opened. A broker is required by regulation to disclose any inactivity costs in full.
To make up for the lack of commission fees from your trading, some brokerage firms may charge inactivity fees in exchange for keeping your account active on their pricey trading platforms.
Deposit Fees for FXTM
Deposit fees are not assessed by FXTM. Despite the possibility of bank or third-party merchant fees.
As some brokers may charge a fee when you deposit money from your payment method to your trading account, you should constantly verify the deposit fees. This is due to the possibility of fees associated with the payment method you use to fill your account.
When you add a certain type of fiat currency to your account, a fixed fee can apply. For instance, it is well knowledge that costs are high when making a credit card deposit. If your broker permits credit card funding of your account, then this will apply.
Commission Fees for FXTM
Commission is paid on CFD instruments by FXTM.
In exchange for enabling the purchase and sale of financial assets through your trading account, a broker may charge a commission fee.
The majority of a brokerage’s income might come from commission fees levied on client transactions to registered traders.
Depending on the type of trading you do, the type of financial asset you are using, and the size of your trading account, commission costs can vary.
If the brokerage completes, cancels, or alters an order on your behalf, broker commissions will be assessed.
Typically, no commission is assessed if your brokerage does not fulfill a market order.
Be advised that your brokerage may impose a commission fee if your order is changed or canceled.
trading using other programs and the FXTM online platforms
One of the few brokers, FXTM, provides both the MT4 and MT5 versions of the MetaTrader trading platforms. You can read our MT4 vs. MT5 comparison here to see how the two platforms stack up against one another.
One of the few brokers that provides the cTrader platform designed for traders is FXTM. See our comparison of MT4 brokers for a list of forex brokers that provide the cTrader platform.
Your phone or tablet will work faster with a native FXTM iOS or Android app than it will with the Avatrade website.
Additionally, FXTM has mobile apps for iOS and Android, making it simpler to monitor and complete trades while you’re on the road.
See the platforms for FXTM
Options on the FXTM Trading Platform
You will have access to the trading platforms listed below once you connect into your FXTM account.
the MetaTrader 4 (MT4)
The MetaTrader 5 (MT5)
• cTrader
Let’s examine each of these trading platforms in greater depth and the alternatives that FXTM provides.
MetaTrader 4 FXTM (MT4)
MetaTrader 4, generally known as MT4, is one of the most prominent trading platforms available and has been in active use on financial markets since 2005. To meet all of your trading demands and improve your trading success, the MetaTrader 4 platform offers a feature-rich, approachable user interface and a highly customizable trading environment. tools for advanced order management and charting functionality.
Recognize that although the MetaTrader 4 (MT4) trading platform was created primarily for trading Forex, you may trade various financial instruments through CFDs and Spread Betting. Any MetaTrader 4 (MT4) platform will not allow you to trade Stocks, Indices, Commodities, ETFs, or Futures unless they are CFD contracts or Spread bets. With CFDs or Spread bets, you won’t own any underlying assets because you’re speculating on price changes with FXTM. The MT4 Platform is covered in more detail here.
The MetaTrader 4 platform with FXTM is available in a variety of versions, including an online web platform, a downloaded application for Windows PCs, and an application for Apple Macintosh computers. The newest version of macOS, Mojave, is compatible with FXTM MetaTrader 4. Trading on mobile devices is made possible by FXTM using iPhones and Android phones.
FXTM’s Metatrader 4 Webtrader
As more and more traders start trading online, MetaTrader 4 is the most widely used trading platform worldwide. You can access MetaTrader 4 through your web browser. With advanced charting, a highly customizable trading environment, simple access to online trading tools, and a variety of indicators, MetaTrader 4 web software offers the same user-friendly performance as the desktop version. You can experience our Raw Pricing trading environment without a Dealing Desk from anywhere in the world.
MetaTrader 4 FXTM Trading on iOS Devices
You can trade with FXTM through the MetaTrader 4 app on the Apple App Store or by downloading the FXTM app.
The Metaquotes MetaTrader 4 Program is available for free download from the Apple App Store. Customers of FXTM have immediate access to these financial markets and the option to fully manage a Portfolio while on the go.
MetaTrader 4 for FXTM trading on Android devices
Millions of people across the world utilize tablets and mobile devices made by Android. Customers can watch the financial market and conduct trades directly from their Android-based smartphones and tablets thanks to FXTM’s access to the MetaTrader 4 platform on devices that support Android. The Android FXTM MetaTrader 4 application allows traders to take use of a variety of advanced trading tools that allow them to monitor and trade Forex fast, easily, and safely while on the go.
MetaTrader 4 Trading Central for Trade FXTM
Three major indicators are included in Trading Central’s Alpha Generation Indicators bundle, including:
A go-to resource for leadership and key levels is Analyst Perspectives.
• Adaptive Candlesticks – Recognizes chart patterns that highlight significant shifts in supply and demand.
• Adaptive Divergence Convergence (ADC): Similar to MACD, but helpful for shorter periods of time and offering more timely signals.
Advanced Trading Tools for MetaTrader 4 by FXTM
The goal of the FXTM advanced trading tools for MetaTrader 4 is to enhance the overall trading experience and provide traders a competitive edge. 20 distinct tools are available through FXTM, including feature-rich trade execution and administration software, sophisticated notification alarms, communications capabilities, cutting-edge market data, and more.
MetaTrader 4 MultiTerminal Trade FXTM
A user-friendly dashboard is provided by MetaTrader 4 MultiTerminal so that traders can manage and keep an eye on many trading accounts. You may manage more than 100 Accounts at once with MultiTerminal, enabling you to make market orders, monitor pending orders, examine real-time market pricing, and keep track of all accounts and equity. The same MetaTrader server must host all trading accounts. Expert Advisor-type automated trading scripts are not supported by MultiTerminal.
AutoChartist for MetaTrader 4 and MetaTrader 5 by FXTM
The first Market Scanner accessible for MT4 and MT5 is offered by FXTM Autochartist using a non-trading Expert Advisor script. View all symbols and time intervals from a single graph to search markets for trading opportunities. The days of opening numerous graphs on which you couldn’t recall which currency you were viewing are long gone. Autochartist provides a straightforward user interface that may be adjusted to fit your trading style.
MetaTrader 5 FXTM (MT5)
MetaTrader 5, usually referred to as MT5, is a multi-asset trading platform that offers a variety of trading capabilities, financial research tools, and the ability to use automated trading systems (trading robots) and copy trading. In the financial markets, new features like more periods and sophisticated charting tools might provide you an advantage.
The upgraded version of MetaTrader 4 is called MetaTrader 5, and it was introduced in 2010.
While MetaTrader 5 enables trading in forex, futures, stocks, algorithmic trading, ETFs, and indices, MetaTrader 4 was created exclusively to trade forex and CFDs.
The MT5 Platform is covered in more detail here. Here, you can find out more about the variations between MT5 and MT4.
MetaTrader 5 WebTrader Trade FXTM
You can use any web browser to access your FXTM MetaTrader 5 accounts. It includes a wide range of tools to give you all the trading resources you require to trade on and analyze the financial markets, such as different timeframes and the most recent technical indicators.
Buying and selling using FXTM MT5
MetaTrader 5 FXTM for iOS devices
The iPhone and iPad, as well as newer iOS devices, can both run FXTM MetaTrader 5. A mobile internet connection or a Wi-Fi connection are necessary to use MetaTrader 5. It is advised that you frequently update the iOS MetaTrader 5 app. New versions offer more stable and functionally advanced architectures. Investors can view market statistics for financial instruments transacted in market execution mode using FXTM MetaTrader 5.
FXTM MetaTrader 5 on Android Devices
On an Android smartphone or tablet running Android 5.0 or a higher operating system, MetaTrader 5 for Android can be utilized. connecting to the FXTM trading server is also necessary. Spend some time learning how to use every feature of Android MetaTrader 5. You can trade a variety of financial instruments anytime, anywhere with Metatrader 5 for Android.
Features of the FXTM Metatrader mobile application
The creators of Metatrader, MetaQuotes, took their millions of customers’ opinions into consideration when creating the most well-liked mobile trading platform in the entire globe. Features of MetaTrader include:
• Quotes for financial instruments
• Check out detailed price charts for financial products.
• Control open positions and trades
• Examine your trading record
• Look at market news
• Internal messaging in MetaTrader
• Browse and analyze market statistics for financial instruments using FXTM.
• Opening and closing of positions
• Lookup symbols in the quotations section
• Deals are displayed on graphs
• Choosing a time frame for graphs and charts
• Additional vertical graph scaling
• The ability to use QR codes to move accounts to other devices
• Information is provided only if it’s offered by FXTM
• Utilize your fingerprint or FaceID to access the OTP generator.
Advanced Trading Tools for MetaTrader 5 by FXTM
For more experienced users, FXTM MetaTrader 5 offers a variety of sophisticated trading tools. Your ability to use these tools effectively can provide you an advantage.
• Market depth bids and asks
Cost Information
• Margin calculations for forex and futures
• Advanced technological evaluation
• One-button trading
• Spreads
• Futures
• Trading News
cTrader FXTM
For Forex and CFD brokerages to offer to their traders, CTrader is a complete trading platform solution. The platform offers a wide range of features to satisfy even the most specialized investment preferences.
The FXTM-exclusive cTrader Premium Charting and Manual Trading Platform
The best multi-asset trading platform for forex and CFDs is cTrader. Advanced order types, charting features, amount II pricing, and rapid entry and execution are all provided by cTrader. It connects to cutting-edge infrastructure and has a stunning style and dashboard that can be accessed from a variety of devices.
On FXTM, cTrader Copy is accessible.
Everyone using CTrader Copy has the ability to share their trading and investing strategies for a fee or commission. Other dealers can look over the accessible strategies, copy them, and enjoy risk-free investing. Additionally, traders are free to utilize their own risk management setups.
On FXTM, cTrader Automate is accessible.
Using CTrader Automate, traders can build algorithmic trading bots to automate their financial trading strategies. Developers may test and optimize their financial robots using the IDE, which dealers can utilize to build code using the modern C# API provided by cTrader.
FXTM offers the cTrader Open API.
Build your own applications with the help of the free, safe, and widely accessible cTraders Open API. The established infrastructure of cTraders can be used by developers to build desktop, mobile, and online software. Developers may communicate and interface with any cTrader account thanks to the open API.
Trading CFDs on FXTM
Let’s examine some of the fundamentals of utilizing FXTM leverage.
For this example, we will use CFDs from FXTM, which are a leveraged product with 10 times leverage.
You have a $10,000 position, but you only tie up $1,000, or one-tenth of the value, on your account. A modest amount of money is in charge of a significantly larger financial predicament. Your leverage is this.
Leverage simply magnifies your profits and losses in both directions, which is how it affects your business.
When trading, FXTM leverage amplifies gains and losses.
Consider the scenario where you use the FXTM trading platform to execute a $10,000 buy/sell transaction on General Electric (GE) contracts for difference (CFDs).
If General Electric (GE) gains 10% as a result of strong performance, your position, which was worth $10,000, is now worth $11,000.
Its value has increased by $1000 (10%), which is a 100% increase over the money you initially invested in your leveraged CFD trade.
Because the price increased by 10%, the initial $10,000 investment we made in the deal resulted in a $1,000 profit.
Leverage in FXTM works both ways. If General Electric (GE) Experiences a 10% Drop in Week Results, your stock, which was once worth $10,000, is now only worth $9,000. Its value has decreased by $1,000.
In most cases, short- to medium-term trades are executed using FXTM CFDs. For instance, intraday CFD trading at FXTM. A CFD trade can be more flexible than a regular market trade where you hold the underlying asset, despite the fact that it carries a high level of risk due to its separation from the financial markets. Short selling, overseas markets, and CFD fractional shares are all accessible through CFD trading. CFDs can also be used to hedge by more experienced traders.
Always be conscious of the fact that CFDs are complicated financial instruments with a high risk of losing money quickly owing to leverage. Your money is in danger.
FXTM’s Education Resources
It’s critical to gain a thorough understanding of the markets and the FXTM trading tools in order to trade with FXTM efficiently. Make careful to utilize all available educational resources. This applies to both internal and external educational resources.
FXTM offer a good assortment of instructional tools. Learn how the financial markets operate slowly. Spend some time learning how to use your trading platform. Make buy/sell trades, get knowledge about how to profit from global trading opportunities, and, most importantly, discover how to reduce and manage investing risk.
It might be a good idea to approach trading with FXTM analytically.
Spend some time exploring the FXTM platforms and learn to approach the markets with a more methodical and rational mindset. Many people lack these skills, but the market needs them from you.
FXTM Customer Support
The customer service options, response times, and effectiveness of the FXTM trading platform’s problem resolution are all examined as part of our FXTM review. FXTM supports a large number of languages, including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Hindi, Hebrew, Arabic, and Russian.
FXTM’s support rating is a D because occasionally the response was slow or our question wasn’t addressed. Compared to other brokers, FXTM offers less customer service features, such as live chat, phone, and email assistance. email support is available, and only a few languages are supported. A few languages are supported by live chat support. A small number of languages are supported by phone support.
FXTM Live Chat Support
The FXTM live chat passed our tests and is effective. Through their app and website, we contacted FXTM livechat, and we heard back from them in less than 20 minutes. There was occasionally no reaction.
We conducted communication tests with FXTM support in various languages and nations. Our customers’ problems were successfully solved by FXTM.
FXTM Email Support
We emailed FXTM multiple times, and overall response times were really good. The response time from FXTM ranged from four hours to five days. There was occasionally no reaction. Although FXTM support response times may differ for you, this was our experience after sending 10 emails at various times.
Our questions were answered and resolved by the team. Overall, FXTM’s email support is average.
FXTM Phone Support
When we called FXTM, the call was promptly answered. In less than 5 to 10 minutes, the call was returned.
Our inquiries and problems were successfully resolved by the FXTM phone support service. We called in several languages to put the multilingual FXTM staff to the test. FXTM made an effort to respond to our questions.
Overall, FXTM’s phone service was adequate.
What is required to open an FXTM account
As the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614, ForexTime UK Limited (www.forextime.com/uk) is authorized and regulated by the Financial Conduct Authority with license number 777911, ForexTime Limited (www.forextime.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, and Exinity Limited (www.forextime.com) is regulated by the Financial Services Commission of the You’ll probably be asked for the following information when opening an account, so it’s a good idea to have it on hand:
• Be advised that different companies operating under the FXTM Brand may have different Proof of Address expiration dates.
• A color scan of your passport, driver’s license, or government-issued identification
• A recent three-month bank or utility statement that includes your address
It’s best to allot at least 5 minutes to finish the account opening procedure because you’ll also need to respond to some basic compliance questions to verify your level of trading experience.
You might be able to browse the FXTM platform right away, but you won’t be able to place any transactions until you pass compliance, which could take several days depending on your circumstances.
You can go to the FXTM trading platform here to begin the process of opening an account.
CFDs are leveraged products that carry a risk that exceeds your initial investment. Trading always entails risk. Just risk money you’re willing to lose.
To sum up
Several financial regulators, including the top-tier Financial Conduct Authority, regulate FXTM on a global scale (FCA).
On the plus side, customer service provides prompt and pertinent responses. There are several educational resources available, such as webinars and demo accounts. Account opening is quick and entirely digital.
However, FXTM has numerous negatives, like high CFD fees, inactivity and withdrawal fees, and a small selection of products.
Feel free to try FXTM as account opening just requires a brief amount of time and customer service is dependable and friendly.
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