Finally, the FXTM support team is reachable seven days a week and speaks over 18 languages, offering many ways to get in touch including live chat. Traders who aren’t familiar with CFD trading whatsoever and those who make CFD trading their career are both well-suited to FXTM, with valuable features for traders across the experience spectrum. This wide-ranging appeal is largely due to the broker’s notable library of educational materials, which are complemented by daily market news and analysis. Fittingly, its welcoming for newer traders who can gather some extra momentum when scaling the industry’s not insignificant learning curve.

• They include bank wires and a broad range of domestic banking solutions for countries, which I find excellent.
• The swap-free account is designed for clients of the Muslim faith who cannot receive or pay swaps due to religious beliefs.
• PricewaterhouseCoopers Limited (PwC) also audits select performance statistics, and FXTM remains one of the more transparent brokers.

FXTM offers MT4 and MT5 platforms, with capped leverage for trading on both platforms, despite MT5 limitations on stocks and CFDs. FXTM is dedicated to educating traders and has a comprehensive teaching centre that includes free eBooks, videos, and webinars. They cover a wide range of subjects for traders of all skill levels, such as trading techniques, trading tools, technical analysis, and more. The FXTM research offering is solid, producing 2-3 daily written articles on current market analysis. This research offers macroeconomic and geopolitical opinions on what is impacting markets and also some technical analysis.

Written by their in-house experts, they go into great detail and cover a wide range of topics suitable for both beginner and advanced traders. If you are located in a country that they do not accept users from, please feel free to peruse our broker reviews for an alternative option. Client funds are held in segregated accounts with prominent banks so that they cannot be used for any other purpose within the company. Eligible clients may be entitled to protection of funds under the Financial Services Compensation Scheme (FSCS). At the time of this review, FXTM maintains a refer-a-friend campaign. PricewaterhouseCoopers Limited (PwC) also audits select performance statistics, and FXTM remains one of the more transparent brokers.

What is the FXTM ECN Zero account?

I also recommend first-time traders seek third-party education covering trading psychology while avoiding paid-for courses. Forextime offers excellent spreads in its commission-based account, making it one of the cheapest Forex brokers in the entire retail Forex industry worldwide. The account variety is very impressive which allows any trader the best suitable option either with flexible or floating leverage. We learned that the broker also provides tight spreads from 0.1 pips, and low deposit requirements, besides education is one of the best provided. So overall, FXTM is very trustable and quiality choice for Forex traders of any size. In terms of the funding methods, FXTM made it quite a simple and straightforward process with a truly wide range of funding options that will assist you to find a suitable money transfer provider.

There are also market analysis videos published a couple of times a week. FXTM also produce monthly market outlook video reports and there is an economic calendar, alongside a scrolling Forex News Timeline. Whether you’re just starting out as a forex trader or have been trading for years, FXTM can fit your needs and provide excellent forex brokerage services regardless of your level of expertise. Opening an account to trade with FXTM is a quick and easy process that can be done online. You will then need to verify your email address and upload a form of identification and to confirm your address for KYC purposes. Once verified by the accounts team, you can fund your account and start trading.

The community is not as big as other services, but all the top 75 listed managers show positive performance, which FXTM states remain audited and verified. I think it is promising and carries great potential for FXTM moving forward. One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs. FXTM offers traders a commission-free and commission-based Forex account.

Excellent service

The broker also offers a few different types of accounts, so newer traders can open a micro account, which is very accessible, with a minimum deposit of just $50. Whether you are a newcomer or an experienced trader, the site offers everything you need thanks to the easy to navigate and all-encompassing website. The company offers STP as well as ECN accounts while utilising the popular MT5 and MT4 trading platforms. There are also dedicated mobile apps on both Android and iOS devices to trade while on the move. With a low minimum deposit threshold, lots of payment methods and account types, social trading aspects, and a new Pivot Point tool, FXTM makes their innovative ecosystem suitable for nearly any trader.

We found that opening an account at FXTM is more straightforward than at many brokers, and takes just a few minutes. Perhaps the hardest part is deciding which account type you want, and this could be quite time-consuming if you decide to try out all the different demo accounts. Once you are sure, however, simply select the type of account you want, along with your preferred trading platform, and then fill in your details and verify the account.

FXTM Editor’s Review Verdict

Traders must submit their name, country, a valid mobile phone number, e-mail address, and desired password. FXTM will send a confirmation PIN to the entered mobile number to complete the process. We were able to complete this within 24 hours which was speedy and satisfactory. Please note that equity markets open and close each trading and are not operational continuously like Forex and cryptocurrencies. Apart from the positive and high regard from the clients in terms of its good reputation, FXTM also supports a great range of languages, so you always may count on help whenever you needed it. Based on our findings, FXTM is a legit broker, as each of the entities and brands that it serves is authorized and regulated by various global jurisdictions.

Get a Forex Pro on Your Side

In total, there are more than 250 different financial instruments to access through FXTM. FXTM offers 60+ forex pairs plus 6 indices which track a basket of popular currencies. The brand’s ECN accounts offers impressive spreads from 0 with low commissions from $0.40 to $2 per lot and commission-free spreads start from 1.5 pips.

Advantage

Thanks to FCA regulation, UK customer account deposits are insured up to £50,000 should FXTM become insolvent. Compliance means that FXTM must collect data from users but also keep it away from prying eyes, safeguard and segregate fxtm broker review customer funds, and maintain a high standard of transparency. TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation.

How to Trade in FXTM?

A $3 withdrawal fee is applied to debit/credit cards, and $25 withdrawal fee is applied to wire transfers. FXTM is an award-winning broker offering you a wide selection of instruments, platforms, account types and resources to make your trading experience as efficient and convenient as possible. FXTM offer multiple account types and flexible leverage to suit all different types of trader. I found the spreads to be very low, starting from just 0.1 pips with deep interbank liquidity to ensure fast trade execution speeds and No Dealing Desk (NDD) technology to avoid a conflict of interest. I would always prefer to use a broker without a dealing desk as I like to get my trades executed at the best possible prices and don’t want to be trading against the broker that I am using.

They offer some online payment processers such as Skrill and Neteller which may be more convenient for some clients whilst they are constantly adding new options in order to improve the process even more. I am fan of the digital wallet payments as I can get quicker access to my fund which is important to me as I may need to react quickly to some unexpected market news. Through the ECN zero account, FXTM offers ask and bid prices directly from liquidity providers (LPs) although they do add a mark-up to the spread, the account is not charged a commission. This account has market execution with no re-quotes and spreads starting from 1.5 pips. Daily Market Analysis is FXTM’s very own news portal that offers detailed market analysis and insights to keep you in the loop with the latest market happenings.

In addition to desktop trading, FXTM also supports mobile trading. The Investing Brokers team have over 15 years of experience in the online brokerage industry and are committed to providing reliable information for all of the brokers that we review. Another method FXTM offers to try and help improve your trading experience is instructional webinars that are free to all clients and available in various languages. Whilst both of the platforms have a very similar look and feel, MT5 has more functionality.