This broker has grown in a fast way, and for that reason, it has a defined corporate structure in its three bases of operations located in the U.K., Cyprus, and Mauritius.
The FXTM broker allows its users to trade Forex currencies, precious metals, crude oil, and natural gas. Moreover, some cryptocurrencies and CFDs can be traded on major American stocks and shares.
FXTM is a regulated Forex broker certified by several financial institutions around the world, such as the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). This broker is also licensed by the Financial Sector Conduct Authority (FSCA) of South Africa.
FXTM, as a Forex broker, proves to be a safe and trustworthy institution for its clients and traders. It is also a highly trusted broker because it counts with a strong set of regulations. Finally, FXTM is considered as an average-risk Forex and CFD broker.
FXTM offers leverage from 1:1 up to 1:200. If the account is opened in the EU or the UK, certain legal regulations may apply, and it may be limited to a maximum of 30 to 1.
FXTM has really good and competitive trading commissions. The fees for Forex are low. The average round trip cost in the Standard Account is 2 pips in the EUR/USD pair. The Cent Account averages a bit higher at 2.2 pips.
Nonetheless, this falls to only 0.8 pips in one of the ECN accounts; which is a very competitive rate, considering the minimum deposit for this kind of account is only $500.
FXTM has a minimum deposit of at least $10. The broker does not charge any additional fee on deposits, except for what the deposit mechanism may charge in some cases.
The broker offers a wide variety of options to deposit and withdraw funds. The most common channel in which transactions can be made are Neteller, Skrill, WebMoney, Visa, Mastercard, Vload, among others. FXTM also offers several local transfer options.
However, it is worth noting that FXTM charges a withdrawal fee in most cases. The fees range from $3, for withdrawal by credit card, to $20 for bank transfers.
FXTM has different account types, in order to satisfy the needs of most of its customers, including the Islamic ones.
FXTM has excellent customer support in multiple available languages: Spanish, English, Arabic, Vietnamese, Hindi, French, German, Malaysian, Korean, Czech, Urdu, Farsi, Italian, Indonesian and Hindi.
Clients are provided with different ways to contact the FXTM team in case it is required:
FXTM broker provides MetaTrader 4 and MetaTrader 5 as the default trading software, which are free trading platforms developed by MetaQuotes Software Corporation that provide all the data information without charging additional fees.
The Metatrader 4 and Metatrader 5 are available in desktop, mobile, and web versions. Additionally, both platforms come in a standard version, but the difference between one broker to another is the fees and spreads, and some other services and functionalities.
FXTM also provides a copy trading program: FXTM invest, which counts with more than 750 different strategy managers. This service is only available for the ECN Zero accounts and through the MyFXTM portal.
FXTM educational resources are vast. This broker counts with eBooks, trading seminars and webinars, glossaries, beginner guides, educational videos, and articles, among many other resources. Seminars are held on average once per week, and webinars are conducted in Bengali, Vietnamese, and English.