FXTM

Platforms

Platforms available for trading: MT4 (MetaTrader 4), MT5 (MetaTrader 5)

FXTM does not have a proprietary platform but instead uses third-party platforms by MetaQuotes. We were delighted to see that FXTM offers both MT4 and MT5 to their clients. Both platforms provide various order execution types.

FXTM’s MT4 is available on Windows, MAC OS, Linux, WebTrader, iOS, Android, and iPad.

MT4 was released in 2005 and its platform that is loved by investors of different trading levels. It offers 30 technical indicators such as Alligator, Bollinger Bands, Average Directional Movement Index, etc. – technical indicators detect changes in price dynamics of financial instruments. MT5 offers additional indicators, such as the Elliott Wave Theory, Regression Channel, etc.

In addition to this, MT5 offers additional graphical objects that help analyze price trends, and, most importantly, MT5 offers 21 timeframes, while MT4 offers just 9. Furthermore, the platform provides boosted EA (Expert Advisors) features and, most importantly, a more updated, faster interface.

FXTM’s MT5 is available on Windows, MAC OS, Linux, iOS, Android, and iPad.

Many traders believe that MT4 and MT5 should not be compared, because MT5 was designed to the things that MT4 could not do, such as trade in other markets except Forex. It is important to note that there is no backward compatibility, so essentially, MT5 is not an upgrade to MT4 but a platform for different uses.

Tradeable Instruments

FXTM offers +250 financial instruments for trading across five asset classes.

• Forex – Major, minor and exotic currency pairs for trading
• Spot Metals – Precious metals (gold and silver)
• Share CFDs – Contracts for Difference on shares of large, publicly-traded organizations like Apple, Gap, Chevron, Bank of America, Cisco, etc.
• CFDs on Commodities – Hard commodities like Brent oil, Crude oil, and Natural Gas.
• CFDs on Indices – GDAX (Dax 30), AUS200 (Australia 200), ND100m (US Tech 100 – Mini), UK100 (UK100), SP500m (US SPX 500 – Mini)
• Cryptocurrencies

Trading Conditions

FXTM offers excellent trading conditions to its clients. The broker offers tight spreads and does not charge commission on trades. In addition to this, the broker has a very low minimum deposit of only $10. FXTM is regulated by CySEC (Cyprus Securities and Exchange Commission), FSCA (South Africa’s Financial Sector Conduct Authority), and follows the regulations of MiFID. Leverage limits vary with FXTM. For example, for forex, the leverage is 1:20 or 1:30, depending on the currency pairs. Since FXTM operate in Europe, the broker follows regulations imposed by ESMA. The broker offers several deposit and withdrawal methods such as debit/credit cards, wire transfers, Western Union, and popular e-wallets like Netteller, Skrill, Dot Pay, etc.

Other fees include:

• Withdrawal fees: €25 per withdrawal
• Deposit fees: None
• Inactivity fees: $5 per month after six months of inactivity

Opening an Account with FXTM

FXTM has a straightforward, standard account opening procedure. The broker will ask you for some personal details (your name, address, email, phone number, etc.) and some identification documents like your passport, government ID, and driver’s license. In addition to this, you will need to submit a proof of address – bank statement or utility bill.

The broker offers two account categories, and each category has three account types:

Standard Accounts 

Standard Account: 

This is the most basic account of FXTM with which you receive the following privileges:

• You can only access MT4 from this account.
• Base currencies: EUR, GBP or USD
• Minimum deposit: 100 EUR/GBP/USD Spreads start at 1.3 pips
• Leverage is limited to 1:30.
• No commission

Cent Account

This form of account is used for trading through cents versus dollars. It is an excellent option for novice traders who are looking to improve their trading skills before they invest more substantial amounts:

• You can only access MT4 from this account.
• Base currencies: US Cent / EU Cent / GBP Pence
• Minimum deposit: 10 EUR/GBP/USD
• Spreads start at 1.5 pips
• Leverage is limited to 1:30.
• No commission

Shares Account

This account is exclusively for trading shares. FXTM offers shares from over 150 companies for trading.

• You can only access MT4 from this account.
• Base currencies: USD / EUR / GBP
• Minimum deposit: 100 EUR/GBP/USD
• Spreads start at 0.1 pips
• Leverage is limited to 1:30.
• No commission is charged.

ECN Accounts

ECN Account

ECN accounts work through direct market execution, meaning there is no dealing desk between the trader and the liquidity provider. There are also no requotes.

• You can access both MT4 and MT5 from this account.
• Base currencies: USD / EUR / GBP
• Minimum deposit: 500 EUR/GBP/USD
• Spreads start at 0.1 pips
• Leverage is limited to 1:30.
• Commission is $2 per lot.

ECN Zero Account

The ECN Zero account does not charge commission; instead, the broker’s feed is integrated into the spread.

• You can access both MT4 and MT5 from this account.
• Base currencies: USD / EUR / GBP
• Minimum deposit: 200 EUR/GBP/USD
• Spreads start at 1.5 pips
• Leverage is limited to 1:30.
• No commission is charged.

FXTM Pro Account:

This account is designed for more experienced traders who are looking for even better trading conditions. Understandably, the account has different requirements:

• You can access both MT4 and MT5 from this account.
• Base currencies: USD / EUR / GBP
• Minimum deposit: 25000 EUR/GBP/USD
• Spreads start at 0 pips
• Leverage is limited to 1:30.
• No commission is charged

Customer Support

FXTM is known for its fantastic customer support, which the broker puts a lot of focus on. The broker offers 24-hour/5 day a week support from a multilingual team that speaks in the following languages:

• English
• Italian
• French
• Spanish
• Russian
• Polish
• Malaysian
• German
• Urdu
• Korean
• Farsi
• Indonesian
• Chinese
• Vietnamese
• Hindu

The customer support team of FXTM was extremely helpful in solving all the dilemmas and issues that we had. Support was available via telephone, email, and live chat.

Education and Research

FXTM offers a wide range of tools for both new and old traders, specifically in the area of education and research. The broker has a dedicated team that works hard on providing quality resources.

• eBooks: 5 comprehensive eBooks on a range of trading-related topics.
• Educational videos
• Educational articles
• Trading glossary
• Seminars and workshops
• Webinars
• Periodic table for trading
• Economic calendar
• Quarterly Market Outlook
• Market News