About FXTM
FXTM is an international forex broker offering online trading and investment services since 2012. Both retail and institutional traders are welcome to open an account and trade with this broker.
Special Offers and Bonuses
The following promotions are currently available at FXTM:
FXTM also holds a number of demo and live trading contests with incredible cash prizes sometimes reaching up to a respectable $100,000. If you are interested in checking out the latest contest by FXTM just click here.
Types of Trading Accounts
This is where this broker truly shines. Great choice of account types paired with great trading conditions is what makes trying out FXTM as your next broker a must.
The FXTM trading accounts are classified under Standard and ECN and we list each type below.
Standard Accounts
This is not your cookie-cutter Standard Account. Clients on a Standard FXTM account get floating leverage up to 1000:1 and no commissions. All these benefits including tight spreads starting at 1.3 pips and a low minimum deposit of $100.
A great account for learning trading at a slow pace and testing your strategies under the conditions offered by FXTM. The minimum deposit is only $5 making the Cent Account perfect for testing if FXTM is the right broker for you and even helping newbie traders transition from demo trading to live and alleviating some of that live-trading anxiety.
ECN Accounts
If you start calculating commissions, the swap and the occasional slippage charge, trading costs start to become noticeable. With an ECN Zero account, you don’t have to worry about commission charges and the spreads start from just 0.5 pips. This is a great account for experienced traders who are looking for market execution and tight spreads on ECN. The minimum deposit requirement is only $200 and leverage reaches up to 1000:1 giving you a great bang for your buck.
This is your classic ECN account with all the necessary bells and whistles. There’s a $4 commission incurred for opening and closing positions but the remarkably low spread charges, starting at 0.1 pips, make up for it more than enough.
If you like trading on MT5 then you will love trading with FXTM’s ECN MT5 account. $2 commission per lot and tight spreads starting from 0.2 pips. The minimum deposit is $500 but it’s worth it since you will be getting all the advantages of trading on ECN and you will be paying greatly reduced commissions.
For professional use only. FXTM has made it very clear that its Pro account is designed only with the big players in mind. You need a minimum of $25,000 to start trading on this account but according to the website, the spreads start at 0 pips flat and the 200:1 leverage available is not something to scoff at either.
All FXTM accounts come with a swap-free option as well, which you can enable or disable directly from MyFXTM, your secure client area.
Trading Platforms
With all the great features packed into MT4 and MT5, the MetaQuotes flagship platforms, it doesn’t come as a surprise that FXTM opted to partner up with MetaQuotes in order to offer clients these popular trading platforms.
FXTM also offers a web trading platform which is perfect if you also appreciate being able to take that quick trade while away from your home setup. You don’t have to download or install any software; the only requirement is an internet connection and access to a device with a web browser (i.e. any modern mobile/tablet or PC).
However, you can still download MT4 or MT5 on your tablet or mobile to access your FXTM trading account. Check out FXTM’s trading platforms page to get a download link for your specific device. Windows PC’s and MAC’s are supported in addition to all the Android and Apple devices.
Commissions and Spreads
As we already mentioned, FXTM has a very attractive low-spread offering and even a few account types with no commissions whatsoever. You can find detailed information about spreads for all trading instruments in FXTM’s Contract Specifications page.
Charting Packages
The charting packages are built-in to the MT4 and FXTM also provides technical analysis through Trading Central.
Education and Demo Accounts
Each FXTM trading account has a demo equivalent which is a great initiative by FXTM and not many brokers do this. This way you can test if your strategy or Expert Advisor can work under the conditions of a specific account and avoid a lot of hassle and of course losing any real money.
FXTM clients can get access to free education through the broker’s regular interactive webinar sessions throughout the month and also through local seminars FXTM holds around the world. Their website of course covers most forex basics and the best part is that you can stay up-to-date with daily market analysis from FXTM’s research team.
Customer Service
The multilingual customer support team at FXTM is top-notch and are always friendly and eager to help with any technical or other issues. Each client also gets assigned to a personal account manager that also can provide assistance when needed.
Deposits and Withdrawals
Whatever your favorite payment method is, FXTM probably has you covered. All popular credit cards, eWallets and bank wires are supported and there are even some local payment options available for some countries. Check FXTM’s Deposit and Withdrawals for more info.
Deposit Limits
At FXTM you will find that the deposit requirements are quite reasonable which is great for beginner traders as well. You can find updated information on the deposit limits for each account type here.
Withdrawal Limits
FXTM promises virtually instant withdrawals but sometimes there might be a processing delay according to the payment method you use. Again, you can check Deposit and Withdrawals for any commissions or additional conversion charges that may apply.
Conclusion
In a nutshell, FXTM is an ideal broker for traders that are looking for a competitive broker with useful and innovative services that are second to none. The broker is very transparent and provides all the necessary tools for clients to improve their trading as well. We highly recommend that you check out FXTM regardless if you are a new or advanced trader.
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