LIBERTEX

DUKASCOPY

NORDFX

BINARY.COM
MARKETS.COM

OANDA

PEPPERSTONE

IRONTRADE

Investigating the FXTM Trading Platform

2 October 2020 by Joseph Reyes
Min. deposit: 5 $ / € / £
Bonuses program: No
Products: Forex, CFDs, Commodities, Indices, Metals, Stocks
Demo account: Free
Advertising:
Top 5 Options Brokers 2020
Expert Option

Binomo

eToro

DukasCopy

Plus 500
Top 5 Forex Brokers 2020
BDSwiss

Libertex

XM

FXTM

FXPro
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. At average of 83% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Content on this page is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. At average of 83% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Content on this page is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

About Broker

FXTM, commonly referred to as ForexTime, is a top online broker that primarily focuses on Forex and CFD trading. It began in 2011 and has steadily grown over the years to become a proficient competitor in the field. Though they have a lot of CFD options, there is also some regular stock trading that involves change of ownership of shares.

This flexibility allows users to mix and match their experience and tailor to exactly their liking. To tie this all together, there is an FXTM demo account so you can test out all the features first.
FXTM homepage
FXTM homepage
FXTM homepage

Facts & Figures

DEMO ACCOUNT:
Yes, free
MIN. DEPOSIT:
5 $ / € / £
MIN. TRADE:
$1
REGULATION:
by CySEC, FCA, FSCA
TRADE SIGNALS:
Yes
COPY TRADING:
FXTM Invest
ANALYTICS TOOLS:
Yes
LEARNING MATERIALS:
Yes
WEB-ADAPTED:
Yes
AUTO TRADING:
Yes
FOREX:
As the name implies, FXTM has a good showing of Forex assets to access on their system. Spreads are generally low but do vary based on the account used.
Leverage up to 1:2000
Assets over 50
Commission only on certain accounts
STOCK CFDs:
This is FXTM's largest instrument, with a significant amount of assets to trade. Again, the spreads are low for their CFDs as well.
Leverage up to 1:2000
Assets around 200
Commission only on certain accounts
CRYPTO:
This is an instrument that FXTM trading has recently invested in. They do not have many assets available here yet. The spreads vary from asset to asset.
Leverage up to 1:2000
Assets over 5
Commission varies on each account

Regulation

FXTM trading platform is a very well-regulated broker. They have three different regulatory bodies from various jurisdictions that allows it to serve a large audience around the world. The regulations include CySEC from Cyprus, FCA from the UK and FSCA from South Africa. Combined these demonstrate a high level of trust for this FXTM broker as it adheres to all these regulations.

Accounts types

This broker has several account types for users to pick, each of them comes with their own list of benefits and trade-offs. The best way to understand what each of these offers is to perform a full FXTM review on them one by one.
FXTM standard accounts comparison table
FXTM standard accounts comparison table
FXTM standard accounts comparison table
FXTM standard accounts comparison table

Standard Account

The standard option has all the fundamentals of this broker's offering. The FXTM minimum deposit for this one is $100 and there is no commission. Spreads start at 1.3 but are floating and may be adjusted at times. This account is available on both MT4 and MT5 but does not offer swap-free across MT5.

The lowest volume per trade is 0.01 lots, while the maximum is 30 lots. They offer USD, EUR, GBP and NGN currencies for use in this account.

Cent Account

This is FXTM's cheapest option. It is the ideal account to open for beginner traders as the deposit requirements start at just $5. Anything deposited into this account will be diluted into cents, for whichever currency you use. It is only available through MT4. The maximum leverage for Forex pairs on this account is 1:1000. No commissions here again and spreads start at 1.5.

Overall, this is a slightly cheaper version of the standard option, though spreads can run higher.
FXTM ECN accounts comparison table
FXTM ECN accounts comparison table
FXTM ECN accounts comparison table
FXTM ECN accounts comparison table

ECN Account

ECN means Electronic Communication Network and this account connects traders with other traders, brokers and even banks. This allows for full transparency in the market and some of the best bid and ask prices around. There are hardly any spreads on this one, but a commission is charged at $2 for opening a deal.

With the ECN account there are fewer assets available, with largely just the majors and minors of their Forex assets. The minimum deposit on this option start at $500.

ECN Zero

This is like their ECN option but with absolutely no commission. The deposit required here is $200, and spreads start 1.5. It is also available on both FXTM MT4 and MT5.

Stocks Account

The stocks account focuses only on the U.S stock market and enables traders to buy, sell and hold stock positions on a range of different assets. These are not CFDs so you can actually own shares in these assets through this option.

This account is only compatible with MT5. The deposit requirement for this option starts at $100 and there are tight spreads and no commission charges. FXTM also provides free access to price data on this account, all in real time.

Pro Account

This is an option for all the professionals out there. The leverage only reaches a maximum of 1:200 and minimum deposit starts at $25 000. There are no commissions and spreads start at 0. This option incorporates all additional features of the FXTM platform and also grants access to a deep level of liquidity from top tier providers. There are only a handful of various Forex pairs to trade on.

Trading offers

FXTM have a solid amount of assets and instruments to use. With over 250 different assets, there is a wide selection. Not all of these are available across all their accounts, however. Also, the bulk of these assets fall into the stock CFDs and Forex instruments. They do also have a handful of crypto assets, some stock index CFDs and around three commodity CFDs.

They do have a small number of real stock options to trade on as well. This is interesting because they are real stocks and not CFDs. It means that you can actually buy and sell the asset itself, instead of trading on the value of it alone. It is by no means a wide range of stock options but there are still at least a few, which is more than most other competing platforms.
FXTM trading instruments
FXTM trading instruments
FXTM trading instruments

Deposits and Withdrawals

Deposits, as we have noted, change dramatically depending on the account you use. The cheapest one is just $10 for their cent account. The largest minimum is $25 000 for the pro account. This flexibility at the entry level is a useful benefit of the many account types that FXTM offers its traders.

There are fees attached to many of the withdrawal options but there is no deposit fee charged. Credit cards are also accepted on this platform. They also accept bank transfers and a wide range of other payment services like Neteller, Skrill and WebMoney. The highest withdrawal fees are found on bank transfers which can go as high as $20.

Commissions & fees

Fees are an important step to understanding an online broker and what they provide. It is very important to be aware of the various costs attached to certain activities on the platform.

For FXTM, there is a range of fee structures attached to each of their account types. In general, the fees charged on this platform are competitive in most regards. Their ECN and Pro accounts offer the lowest spreads but require higher deposits to get going. Their standard option has no commission charges but fairly high spreads. Traders can expect around 2 pips at this standard level for a round trip trade.

FXTM's swap rates are also competitive against the industry average and some account options offer completely free swap rates. The upside about the pricing system on this platform is they are generally very transparent about how they calculate it and where it applies so these costs should not sneak up on the traders when they don't expect it.
Comissions on ECN MT4
Comissions on ECN MT4
Comissions on ECN MT4

Web and App availability

FXTM offers a mobile version of MetaTrader compatible with Android and iOS. You can download the MetaTrader 4 & 5 Mobile Apps from Google Play or App Store. The mobile version has the same functionality as the desktop platform. The application provides access to:
  • 250+ financial instruments.
  • The ability to change, open, and close positions in a matter of seconds.
  • One-click trading for faster execution of the deals.
  • MyFXTM section for platform members.
  • Modern trading tools.
FXTM Trader mobile app
FXTM Trader mobile app
FXTM Trader mobile app
In sweeping strokes, MT4 may be the better option for Forex focused traders while MT5 can handle the other side of things like stocks.

Otherwise, for those unfamiliar with either version of MetaTrader, they are highly customisable and adaptive platforms that can incorporate a whole range of added tools and features. There is a reason these are such popular platforms for connecting to the market and will almost certainly provide the experience that users require.

FXTM does provide a very wide range of languages for the platform which allows users to set up their environment in their preferred language. There are over 30 different language options.

Support & Tutorials

FXTM has a reliable and efficient customer support system in place to help traders with any problems or questions along their trading journey. Here again, they offer a wide range of language options which makes support all the more inviting.

You can connect to the customer service through a live chat option, via phone or the classic email. The support through these systems is responsive and friendly but they only operate during the week. While this is okay for the most part, there are definite advantages of having 24/7 support which FXTM lacks.
FXTM learning materials
FXTM learning materials
FXTM education section on their website
As far as tutorials go, FXTM is a cut above most brokers. There are several resources that serve to inform and educate both new and experienced traders alike.

The first of these is the demo account. This is arguably a must have for any top broker and fortunately they are on the money here. The FXTM demo is free to use and can be done on any of their available accounts. This not only gives new traders a great way to learn the market, but it also allows them to test out the account options before they place down any deposits.

Within the platform you can also find several tutorial videos about the system itself as well as on the topic of trading. This educational offering also includes webinars, which are only available ins some countries unfortunately, and articles on all sorts of market related topics. To wrap up these great resources you can also find a glossary section and FAQ to help answer specific questions.

All in all, this is a great value offer from FXTM and can be used to dramatically boost traders' understanding of not just the platform but trading and the market.

Bonuses

FXTM do not currently have any bonuses running. They do offer some additional features that could fall under this umbrella, however. This includes the negative balance protection they supply. Their regulatory bodies also add some investor protection should anything dramatic happen to FXTM while you are trading.

Another feature they also offer is FXTM Invest. This is a copy trading service that allows users to automatically mimic the trading activity of certain strategy managers. They have a wide range of traders to select within this list and you can set your account up to simply imitate the actions of these professionals.

This is a very unique and exciting feature because the experience many of these traders have is of a very high level. Having access to not just the trading information but also the ease of being able to automatically copy them is invaluable. This does come with an entry fee of $100, however. Additionally, each of the strategy managers will set an additional copy charge for their trading services, which can go up to 50%.

CONCLUSION

CONS
  • Automated trading
  • Multiple account types
  • Highly regulated
  • Good range of Forex and Stock CFDs
  • Good educational resources
  • Minimal Crypto assets available
  • Support available only 24/5
  • Commission on withdrawal via bank cards, Paypal, Yandex Money, Qiwi
PROS
Overall, this FXTM broker review has shown that it is a highly rated and quality platform. They have some limitations but what they do they do very well.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. At average of 83% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Advertising:
Top 5 Options Brokers 2020
Expert Option

Binomo

eToro

DukasCopy

Plus 500
Top 5 Forex Brokers 2020
BDSwiss

Libertex

XM

FXTM

FXPro