ForexTime FXTM review: Could this be the best forex trading tool?

You also get real-time interactive charts, all trade orders available, all execution methods available, multiple chart types, and full control of your trading account. It has spreads from 0.1, a SWAP-free option, and the same currency options as well. Scalping and hedging are allowed and the commissions start at just $4. Besides the wealth of informative educational materials on the FXTM site, this platform has a solid customer support service.

  1. This broker is considered a good option for Nigerian forex traders who are generally in need of a respected international broker that caters to their specific needs.
  2. As expected from such a major broker, there are numerous positive points to consider.
  3. FXTM offers a well-regulated platform and an excellent overall quality of services.
  4. ForexTime has a vast amount of educational resources on hand, including a section all about lxcriticalg how to trade forex.
  5. The benefit of having the base currency available that you deposit in or withdraw to is that you will not have to pay any currency conversion fees.

Spreads go as low as 0.4 on XAG/USD or 5.0 on XAU/USD when you open an ECN account. FXTM offers access to 250+ xcritical rezension instruments in seven major asset classes. Margins are tiered, as has recently become the industry standard.

Between 74-89% of retail investor accounts lose money when trading CFDs. Clients can trade major, minor and exotic currency pairs with FXTM, as well as forex indices such as the USD index or the EUR index. Forex indices generally consist of six different currency pairs measured against the main currency of the index. This is another nice touch that you do not often see at other forex brokers, many of which only offer trading in currency pairs, not in forex indices. While many currency pairs are available, there’s no option to trade crypto with this broker.

I highly recommend the commission-based option as trading costs remain among the best industry-wide, while the commission-based account charges relatively expensive fees. The FXTM Pro Account caters to professional traders, as the name suggests. FXTM also advertises it to institutional traders and hedge funds. It requires a minimum deposit of $25,000 or currency equivalent to open. FXTM earns its revenue from volume in this account type, as spreads will average above 0.2 pips, which remains one of the most competitive offers industry wide. FXTM offers trading via CFDs with competitive spreads and generous leverage.

Account types

Remember, you can try out both types of accounts as a demo account if you’re not sure which one will work best for you, and we would certainly recommend this, especially for less experienced traders. FXTM trading fees depend on your account type and the instrument you are trading, as well as the platform you use. With the Advantage MT4 account, clients are offered a floating commission.

How Can You Deposit And Withdraw With FXTM?

This calculator has you input your investment amount, your expected profit, your profit share, and your gross withdrawal amount. This will give you the amount paid to the manager based on the profit share and the net withdrawal. There is also a specific market analysis related to xcriticalit via a xcriticalit Countdown and guide. Clients also have the option of setting up SMS alerts for major market news.

ForexTime FXTM: Final verdict

Another popular program is the ongoing Loyalty program, which offers you actual cash, not points or virtual cash. You earn $5 (or equivalent) in real cash that you can withdraw or use for future trades. FXTM truly exceeds expectations when it comes to the wealth of account type offerings.

If you are trading with FXTM using MetaTrader 4 or MetaTrader 5, you can also elect to use the MT4 or MT5 suite of apps for mobile trading needs. Registration is required – you are not automatically enrolled when you open a live account. Market analysis videos and a selection of forex news is also made available in this area.

This is a little high with the average EUR/USD spread at 1.9 pips, or Gold at 56 pips, but you have to consider the convenience and lower risk level of the account where the minimum deposit is just $10. As expected from such a major broker, there are numerous positive points to consider. The first of these is the good range of account type choices you will find. An Advantage Account, Advantage Plus, Micro Account, Islamic and Professional account are all offered. With FXTM, scalping, hedging, and algo-trading are all permitted. Thank you for detailing your experience with our super-awesome Account Manager – Najib Atallah.

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