All cryptocurrency CFDs are traded in currency pairs just like forex markets, against the US Dollar. So, for example, if you want to trade a Bitcoin CFD, then you’d trade a BTC/USD CFD. FXTM offers clients the opportunity to trade over 250 financial instruments, all from MT4/MT5. The biggest reason to choose MT4 is to gain access to the endless library of xcritical website custom indicators and expert advisors that have been developed specifically for the platform. With an inability to seamlessly transfer indicators from MT4 to MT5, many traders prefer to stick to MT4 to continue trading their proven strategy. MetaTrader 4 (MT4) is the tried and tested trading platform that has catapulted forex trading into the mainstream.
FXTM Has The Best Education For New Traders
Spreads are floating and minimum lot sizes from 0.01 are available. FXTM does not charge internal fees, but third-party payment processor costs may apply. FXTM is a legit company, operating with four regulatory licenses https://xcritical.pro/ and acquiring a fifth. FXTM’s minimum deposit for residents of South Africa is only $200. Please note that equity markets open and close each trading and are not operational continuously like Forex and cryptocurrencies.
More details about FXTM
Cent accounts work in a balance of cents rather than dollars and have a tiny minimum deposit amount of $10. Meanwhile, the Share accounts allow you to trade in European and US shares and have a reduced minimum spread value of 0.1, compared to 1.3 for Standard accounts and 1.5 for Cent accounts. Am dissappointed by FXTM to rate a strategy manager by the Name LuvRanjan at number 3 in terms of returns and number two in terms of level of risk. In invested my 100 dollars based to two ratings low level of risk and atleast some returns.
FXTM Refer a Friend Program 👥
For example, all users have access to an automatic trading signals interface that provides technical analysis of various forex pairs and other instruments. There are also extra tools available for download, along with regular contests and trading promotions. In the modern world, trading various instruments is accessible to anyone with an internet connection and some sort of computer or mobile device.
Deposits and Withdrawals
You will see information such as minimum or typical spreads, pip values, swaps, and trading sessions. A major advantage of using this trader is that FXTM is regulated by authorities in the UK and Cyprus, both of which have deposit protection insurance. As a consequence, if you are trading from within the EU or UK through FXTM, you could be eligible for £85,000 or €20,000 in cases of brokerage insolvency. Rather than using real cash, you can start practicing trades with a risk-free virtual account. This is a great way to get a good understanding of how the ForexTime FXTM trading system works.
MetaTrader Apps 💻
For the Cons, there is a withdrawal fee, and Stock spreads are rather higher, also condiitons vary on each entity. We’re super happy to know that you’re enjoying your Trading Experience with FXTM. It’s our aim to make sure our clients enjoy a hassle-free experience with us.
ForexTime FXTM: Features
Offering 1000+ day trading markets and three account types, they cater to all levels of trader. I want to point out that only verified trading accounts may request a withdrawal and that FXTM enforces a withdrawal hierarchy. FXTM will return funds to the payment processors used for deposits, and it appears that traders must withdraw profits exceeding them via bank wire only, which is expensive.
- This means that you do not have to worry about delays interfering with your ability to get the best prices.
- There is also a section where the Strategy Manager tells you about the Strategy and any other additional relevant information.
- FXTM cannot open client accounts for residents of certain countries due to regulatory restrictions.
- In 2018, positive slippage got as high as 85.82 percent in March.
FXTM also advertises it to institutional traders and hedge funds. It requires a minimum deposit of $25,000 or currency equivalent to open. Account holders get commission-free raw spreads from 0 pips. 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. Our data comes from our sophisticated spread analyzer tool, which collects live account information and syncs with our performance analytics system. To compare all brokers and instruments with the latest live data, visit our spread analyzer tool.
Hi Amos, FXTM does not xcritically offer a bonus program with your deposit when founding your account. Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community. He has also published a book in 2023 on on investing and trading. If you’re a risk-tolerant trader, then choose a high-risk system.
FXTM is a legitimate, safe, and secure broker, as it is highly regulated, holding licenses in several jurisdictions, including the tier 1 financial center of London. Its UK license may entitle account holders to state compensation in the event of broker bankruptcy of up to £85,000. I like that Forextime continues to adjust to market and regulatory changes, ensuring traders maintain a competitive edge. The degree of transparency is another positive I want to point out. Big Four accountancy PricewaterhouseCoopers Limited (PwC) audits published statistics per International Standard on Assurance Engagements (ISAE) 3000. I just had my first withdrawal from FXTM through africansolutions.
FXTM investors should feel confident that trading opportunities are not halted while on the move. MetaTrader 4 offer a mobile-compatible app, available for free download to iOS and Android (APK) devices. Note, account verification must be completed to process payments. Several other deposit methods are also accepted, including Global Pay, Perfect Money and more. Simply select your chosen finance method via the deposit section in your profile interface.
FXTM, also known as ForexTime, is a well-established broker founded in 2012. It is highly regulated across multiple jurisdictions, including Cyprus (CYSEC), the United Kingdom (FCA), Mauritius (FSC), and South Africa (FSCA). This broker has received 44 user reviews, with 41 from verified real trading accounts, achieving a high user rating of 4.3 out of 5. FXTM is ranked 25th out of 1103 forex brokers based on user ratings and 23rd based on expert ratings. Despite being privately owned and not publicly traded, FXTM maintains segregated client funds and offers a wide range of tradable instruments.
While the brokerage also offers its own in-house FXTM app for iOS/Apple and Android, this app is designed to be used only for account maintenance and account syncing. Depending on the withdrawal method chosen, average transfer time ranges from 24 hours to 4 business days. The cent account is a variation on the standard in that all deposits are displayed in cents regardless of amount funded.
The Quarterly Market Outlook reports provide in-depth analysis that allows traders to take the opportunity to reassess and recalibrate strategies. Both MT4 and MT5 offer a range of tools and indicators that would take a trader a long time to completely understand. FXTM does not specifically support social trading, though users of the MetaTrader platforms can share ideas with other members of the MetaTrader community. The MetaTrader platforms, MT4 and MT5, which form the FXTM desktop trading service base, are available for free download to mobile and tablet devices.
It also comes with free mirror demo account and requires just £10 or equivalent to fund the live version. This could be considered the original or “classic” FXTM account type. Available for use with MT4 or MT5, it comes with a mirror free demo account and requires just £100 or equivalent to fund the live version.
FXTM leverage is determined by various measures and firstly set according to the regulatory requirement in one region or another. And then is also based on the trader’s experience and knowledge, so always check with the customer support team first which one is applicable to you. Based on our Expert findings, FXTM is considered a good broker with safe and very favorable trading conditions.
Traders may also use Skrill, GlobePay, Pay Redeem, Perfect Money, Neteller, FasaPay, and M-Pesa. Beginner traders have access to one of the most comprehensive educational offerings, consisting of a video library featuring dozens of videos and written content. I find it well-structured and an excellent starting point for new traders. I also recommend first-time traders seek third-party education covering trading psychology while avoiding paid-for courses. Traders in the FXTM Pro Account have no restrictions on trading strategies, can use the MT4/MT5 trading platforms, while the minimum transaction size remains 0.01 lots. All necessary and useful tools are also included in the package, from risk management to analysis, as well as a uniquely developed trading tool like – Pivot points strategy and trading signals.
However, their withdrawal is the worst by far in the industry. For example, I’m xcritically waiting for a withdraw I made four days ago via a mobile money method they claim takes at most 24hours. They have frustrated me in such situations atleast thrice. The customer service will keep telling you they have told the relevant department but I Don’t really think they do.