A Legit Trading Club for Investors

FXTM Review:

FXTM is a top-tier worldwide broker that puts a variety of trading products at your disposal and offers high-end knowledge and services at affordable prices. They are a worldwide legal broker, and each team member has more than two decades of experience working in the sector. They give you a central place to do business where your needs can be met to the highest standard. Traders using the site will have access to foreign exchange, indexes, stocks, and more. In addition, the investors can choose the trading account that best suits their needs according to their experience level.

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Accepted Countries

Since 2011, FXTM has been a reputable and successful broker. This is a platform that is widely used throughout a total of 150 nations. The worldwide network of offices can be found worldwide, including in Asia, Europe, Africa, and Latin America.

Is FXM Legit or a Scam?

FXTM is not a fraud; rather, it is a reputable brokerage that offers trading services to over 10,000 customers in over 135 countries through its subsidiaries, ForexTime UK Ltd., ForexTime Ltd., and Exinity Limited. Moreover, we give FXTM a high rating for reliability because the company complies with all applicable local regulatory rules in every country where it does business.

Trading Products

Some might say that FXTM’s list of assets that can be traded isn’t as impressive or large as you might expect from a broker with so much market share. But there are enough assets to choose from, as there are 63 FX currency pairings and eight commodity pairs. In addition to forex, CFDs on 173 U.S. and European stocks are available to trade on FXTM. The number of global stock indexes available is 11, though. Lastly, FXTM allows CFD trading on four cryptocurrencies: BTC, Ripple, Ethereum, and Litecoin.

Trading Platform

FXTM only provides one trading platform, the widely used MetaTrader4 platform. Even though most customers and brokers worldwide prefer this platform, FXTM has been criticized for not supporting the newer MT5 platform and for not becoming an in-house option instead of a white-label one. The powerful place that the broker holds in the sector comes with certain expectations, which are only partially satisfied in this regard. Despite this, the MT4 is accessible on both Windows and Mac computers and has desktop and web-based versions, making it possible to trade from any version of Windows.

Mobile App

The mobile trading platform that FXTM offers is almost perfect, so there is no chance of missing out on any deals or investments that could be profitable. The trading platform is very flexible and gives traders access to a wide range of trading products, such as indices, commodities, currencies, and many more. In addition, analyzing a trader’s trades can be completed in just a few clicks. MT4 and MT5 both support mobile trading, an alternate trading option.

Trading Tools

All of the entity’s trading tools are of the highest possible quality. They are responsible for calculators, market notifications, as well as a great deal more. Various trading tools keep traders informed about the latest news and events. Various trading tools, such as currency converters, margin calculators, pip calculators, profit calculators, and investment profit calculators, provide detailed information about the market’s various activities.

Affiliate Program

FXTM just started a new affiliate program that allows partners to earn commissions for each qualified client they send. Each partner has a dedicated affiliate supervisor who acts as a resource for the platform and helps them figure out how to improve their online presence.

Deposit and Withdrawal

  • Deposit : The minimum deposit requirement for an FXTM Standard Account is $/€/£ 100, whereas the minimum deposit demand for a Cent Account is $10. Also, the company will pay for any deposit fees, which is great news for your ability to manage your money well.

  • Withdrawal : Withdrawals from FXTM can be made to a variety of different accounts, such as bank transfers, e-wallets, and cards. Withdrawal fees can be different for each available method. There is a $3 fee for using a credit card, $30 for using a bank transfer, and 2% on top of the withdrawal amounts for using WebMoney. However, compared to other market options, these withdrawal charges are still reasonable. 

Spreads

When opening an FXTM Advantage Plus or Micro Account, you will only be charged a spread for your foreign exchange transactions. Many traders find this fee structure the most convenient because it is easy to figure out, no matter their trading method. Standard spreads for EUR, USD, GBP, and NGN begin at 1.5 pips, though these vary depending on which of FXTM’s three accounts you choose.

Leverage and Margin

Leverage increases buying power. It permits small deposits but trades with debt money. It’s comparable to a loan; they will lend you a specific amount of funds so you can acquire more assets and earn more on successful deals.
Margin is the amount you must retain in your accounts to cover trade losses.   To open and sustain trades, keep your margin high.

A micro account is for traders who need more preparation to invest. FX 1:3—It provides leverage of 1:1000 on equities and 1:500 on metals.
Advantage Plus has no commission but greater spreads than Advantage. It offers leverage Up to 1:200.

Payment Methods

It provides multiple payment methods to its users, including 

  • Online Banking
  • Ghanan Local Transfers
  • Latin American Solutions 
  • TC Payment 
  • Skrill 
  • South East Asia Online Banking
  • Telepay Local Transfer
  • Indonesian Local Transfer
  • Local Bank Wire Transfer 
  • Algerian Local Transfers

Protection and Regulations

Regarding forex and CFD trading, you can rest assured knowing that FXTM provides exceptionally high levels of regulatory protection. This assertion is supported by the fact that it is licensed in multiple jurisdictions and subject to oversight from various government financial agencies. In addition to the Financial Conduct Authority (FCA) in the United Kingdom, FXTM is also governed by the Financial Services Commission of Mauritius (FSCA) and the Cyprus Securities and Exchange Commission (CySEC).

FXTM is a reliable and secured broker because to be regulated, it must comply with tight capital standards, segregate customer funds from its own, and apply AML and KYC procedures, among other precautions, to protect its client traders and their rights.

Customer Support

If you are a trader at FXTM and need assistance closing out or adjusting a position with the brokerage firm from Monday to Friday, you can call customer service anytime. While the company’s e-mail support is always open, the helpline and live chat function are only operated between 02:00 and 20:30 GMT+2.

FXTM provides a wealth of instructional resources for beginning traders, such as tutorials, videos, blogs, a forex vocabulary, an education center, webinars, and seminars, in furthermore to its customer service.

FXTM Pros and Cons

Pros

  • The ideal location for the international market
  • The accessibility of a large array of trading tools
  • Processing of orders at lightning speed
  • Private markets and trading platforms
  • No deposit charge
  • Actual prices
  • Methods of payment are quick

Cons

  • The trading procedure is very rigid
  • The trading process is impacted when there is high volatility.

Conclusion

Overall, it looks like FXTM provides its customers with first-rate brokerage service. The company’s leadership has a firm grasp on the requirements of traders and the resources necessary to satisfy even the most discerning customers worldwide.

The forum has also earned a variety of honors, including numerous awards and glowing customer reviews. FXTM is a credible option for online forex.

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