While FXTM offers cryptocurrencies, traders based in the UK and trading with the broker’s FCA-regulated subsidiary will not be able to access cryptos. The FCA recently banned UK retail traders from accessing cryptocurrency markets. As both XM https://forexhero.info/ and ForexTime offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5), the brokers tie this round. Regardless of whether you choose XM or FXTM, you are able to automate trading using Expert Advisors and conduct advanced research on the platforms.
Tie: Better Trading Platform
FXTM provides forex traders with award winning trading services, strict regulation, deep liquidity for fast trade execution, flexible accounts/leverage, tight spreads and low minimum deposit requirements. FXTM (trading under ForexTime Limited) is a multi-award-winning, leading Forex and CFD broker. 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.
Regulated by Multiple Financial Authorities Including CySEC
Trading CFDs allows you to use leverage to increase your profit potentials. The MetaTrader 4 platform offers easy-to-read, interactive charts that allow you to monitor and analyze the markets in real-time. You also have access to more than 30 technical indicators, which can help you identify market trends and signals for entry and exit points. FXTM does not charge any withdrawal fees on all payment options available.
- You have the option to filter Strategy Managers based on various factors, including success rate, risk level and overall profit.
- According to my personal experience with FXTM for more than 2 years I’m very glad that I chose this platform.
- Most traders will satisfy this by sending a copy of their ID and one proof of residency document.
- Both brokerages offer professional customer support services through several popular channels.
- If you had been following me here at Daily Forex, you know that I’ve been very bullish of the DAX, and I think that continues to be the play here.
- The broker provides traders you with convenient access to trade the markets, including CFDs on forex, stocks, cryptos and commodities.
ForexTime FXTM: Support
FXTM is an award-winning broker that gives you access to trade a great range of over 250+ financial instruments. They provide you with very competitive trading conditions and powerful yet user-friendly trading platforms. The broker also has a range of educational materials and free demo accounts for beginners. If you are a fan of market analysis then you will enjoy the abundance of trading tools that can assist with your trading strategies. There is a good choice of flexible account types and convenient payment options to suit every trader. I like that they have strict regulation in multiple jurisdictions as this gives me confidence that my account with them is safe so that I can focus on my trading.
ForexTime FXTM: Opening an account
FXTM offers zero commissions on the Micro and Advantage Plus accounts. From the table above, the spreads offered by FXTM MT4 Accounts are quite higher than those offered by the big names in the industry — for example, IC Markets, IG Markets, and Fusion Markets. DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with. If you have experience trading with FXTM please share your personal review of the broker and what you think are strong and weak points.
FXTM implements a fee for these kinds of trades, and traders must consider this when dealing with different currencies. When an account remains inactive for a specific duration, it is subject to inactivity fees. If no trades are conducted on FXTM accounts for six continuous months, the company imposes a monthly $5 charge. However, withdrawal costs may be applicable based on the chosen transfer method. While several e-wallet withdrawals are free of cost, bank wire transfers might attract a charge from the corresponding financial institution processing the transaction.
Our experts are confident that the broker offers adequate protection regardless of your country of residency. Once registered with the FXTM Group, customers can benefit from daily market analysis. The broker utilizes in-depth fundamental and technical analysis to highlight potential market opportunities from Canada, Indonesia, India, Malaysia, Nigeria and beyond.
EAs allow traders to program and automate their strategies to run on the Metatrader platform. There’s a rollover interest (swap) charged or received for holding positions overnight. FXTM’s institutional partners calculate the daily swap rates using risk-management analysis. So, each forex currency pair has its forex swap charge, and interest is paid on currency sold and received on currency bought. After creating your live account within a few minutes, you will be required to wait for about 24 hours to verify your live account. Upon verifying your account, you will have to fund it using any available payment methods before you can start trading.
FXTM always “gives you more” and this is reflected in the world-class support we offer our clients. Every member of our team is expertly trained to assist you so that fxtm review your trading experience with us is hassle-free and more importantly, enjoyable! We wish you Happy Trading and please do reach out to us if you need any assistance.