FXTM Review – Is This Broker A Good Choice?

FXTM Review

FXTM logoFXTM is a rapidly growing and highly reliable broker that had initially been launched back in 2011. Its headquarters are situated in Cyprus and it is a broker that has really exploded in terms of growth and popularity in Europe, as well as in certain areas in both Asia and Africa. Needless to say, it is globally renowned and its services are highly sought after, so we would encourage you to read through this in-depth FXTM review to find out all you need to know.

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Regulation

Firstly, it is important to know whether the broker of your choice is even legally allowed to function or not. These days, it is common to find brokers from all countries who claim to have great services and features which might actually be the case, however these brokerages may not in fact have authorisation to operate.

With FXTM, you needn’t worry about such legal concerns as the broker is fully regulated and authorized via the U.K’s Financial Conduct Authority (FCA), among several other regulators. It is also regulated by CySec (Cyprus Securities & Exchange Commission), and Mauritius’ FSC. It is thus often considered to be a safe choice due to it being regulated by numerous top-tier institutions.

FXTM website

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Leverage

FXTM users are allowed to trade with either floating or fixed leverage. Leverage is certainly a tool that is highly useful nowadays, particularly for those traders of relatively smaller size, due to the potential of timely increases in gains.

Of course, the right leverage will always involve choosing the correct instruments, as this might inadvertently increase both the potential for losses and the overall risk level. The leverage that FXTM provides is thus ascertained via numerous measures and is accordingly set as per the region’s regulatory requirements.

Account options

There are multiple account options available for the purposes of forex trading as well as investment accounts. These accounts have been separated in order to cater to the needs of every trader’s different and often unique preferences, which can involve trading size, instruments, trading transactions, and more. In total, we observed 3 main account types for FXTM users, namely ‘Micro, Advantage’, and lastly ‘Advantage Plus’.

The ‘Micro’ option is the most accessible account that is being offered by FXTM. It has instant execution and a low minimum deposit, as well as spreads from 1.5 pips and no commission. The ‘Advantage’ account is the cheapest option by far, and it has a $0.40 to $2 average commission. This average is calculated via the volume along with the spreads which are from zero. Finally, we have the ‘Advantage Plus’ option, which has the inclusion of a partner account that also has no commission as far as spreads may be concerned. The spreads are from 1.5 pips.

A demo account option is additionally available.

Trading platform

The trading technology that FXTM is truly first-class, and its trading platforms include MT4 and also MT5. MetaTrader technology was also used in conjunction with the broker’s own trading services to provide further ease of access and smoother operations.

Additionally, FXTM has mobile trading, desktop trading, web trading, and social trading features that only improve the diversity and accessibility provided to traders.

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Withdrawals and deposits

FXTM has made the process of withdrawals and deposits very straightforward and simple. The diverse range of various funding options are there to help you procure a money transfer provider that is suitable for your specific needs.

For withdrawals, users may use e-wallets, bank transfers, and credit cards. It is important to note that the fee will differ depending on which option you choose, so for instance if you decide to use your credit card, the fee will be $3. However, a bank transfer can cost you $30 (which is still relatively low). Withdrawals can usually take up to 2 days.

For deposits, you can similarly use credit cards, e-wallets, or bank transfer methods. The method can vary depending on where you are accessing FXTM from. The processing times are also great, as it very rarely takes more than 2 hours at most for the deposits to be completed.

Customer support

FXTM has an amazing customer support team that can be reached via messenger applications, emails, direct phone calls, an online live-chat option, and a few other methods. There is a healthy mix of different language options available, so language-barriers should not be a problem either.

FXTM has centers established in numerous countries including China, Thailand, Malaysia and Indonesia, as well as various other regions in Europe and Africa.

Final verdict

FXTM is a professional, world-class, trusted and reliable broker. Rarely do we come across a brokerage that offers so much for so little, and the customer support is always ready to help solve your trading-related issues. Legal concerns are not a problem either, so you can relax and feel safe when using FXTM.

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