3.23 75 Reviews
3.23

FXTM Review Summary

The award-winning FXTM brand was created in 2009 by Andrey Dashin. His vision was to produce a broker suitable for traders of any level. It is obvious he has been successful. The broker is fully licensed and regulated by several regulators including CySEC and the FCA. Currently, FXTM has over 1 million clients. Despite the fact that FXTM is a fairly new broker, it already holds a solid position in the industry.  This is definitely due to their experienced management team that understands the needs of their clientele, strongly abides to regulations and focuses of the security of their clients’ investments and funds.

FXTM Review Highlights

Trading Platform: MT4, MT5
Cryptocurrencies Bitecoin, Litecoin, Ethereum and Ripple
Regulator CySEC, FCA
Minimum Initial Deposit 100 EUR/GBP/USD
Leverage Up to 1:30

Pros & Cons

Pros
  • Well-regulated in multiple jurisdictions
  • Large variety of trading instruments available
  • 24/7 support in multiple countries
  • Low minimum deposit
Cons
  • Quite a few trading fees
  • Restricted in many countries
FXTM Crypto & Forex Broker Review
FREE TRADING ALERTS SIGNALS TRADE THE TOP CRYPTOCUREENCIES AVAILABLE IN MULTIPLE COUNTRIES
official Wbsite >

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

Official FXTM Review Registration

Founded: 2011
Broker Type: STP/ECN
Languages Supported: EN, IT, FR, ES, RU, PL, Malaysian, DE, UR, KO, Farsi, IN, ZH, Vietnamese, Hindu
Trading Instruments: Forex, cryptocurrencies, indicies, shares...
Account Types: Standard and ECN
Expert Advisors: Yes
Social Trading: Yes
Hedging: Yes
Scalping: Yes
Commission: Varies
Inactivity Fee: Yes, minimum
Swap-Free Account: Yes
Mobile Apps: Yes
Demo Account: Yes
Prohibited Countries: USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, and the Occupied Area of Cyprus.
Trading Fees: Yes, variable
Withdrawal Fees: Yes, minimal
FXTM Crypto & Forex Broker Review
FREE TRADING ALERTS SIGNALS TRADE THE TOP CRYPTOCUREENCIES AVAILABLE IN MULTIPLE COUNTRIES
official Wbsite >

CLAIM OWNERSHIP

If you are the owner of this platform you can manage this account. First you need to claim the ownership of the platform.

CLAIM OWNERSHIP

FXTM Reviews

75 Reviews for FXTM

  • Tony says:

    Excellent rates. Fast execution at the best market price. Interest for the money in the account.

  • Azad N says:

    I consider the service to be excellent, without fails, solid and reliable.
    I do not usually award the best score so that those responsible for the service always strive to improve it, but I would not know how to improve it. For this reason I grant the five stars.
    Congratulations and go ahead …

  • Daniel Rait says:

    I can see I’m not alone on here so you’d of thought FXTM would have allocated some extra resource on this by now….very disappointing on an otherwise good trading platfor

  • Jorges Move says:

    Confusing, unexpected fees and not reliable app and Web.

  • Roman Elsiz says:

    Experience on the site was fine but when it came to withdraw the funds, I received 5 different payments on 2 accounts (not sure why and without any explanations) in 2 different currencies. All in all, including the fee and the loss from currency change, my little gain was almost insignificant.
    Would not use them anymore

  • Milian Torin says:

    I wanted to trade on FXTM but after seeing these reviews, i am not sure anymore.

  • Jacobus J says:

    excellent service

  • Nastassja Belong says:

    Excellent Help-desk, Quick and efficient.
    Good spreads, great for Forex trading.

  • Bjorn says:

    Some lack of knowledge perhaps – I wanted to know the current build of MT4 (which I had to learn elsewhere). Otherwise working hard to give me good service.

  • Badiger Aravida says:

    Great service, and opening a new raw account.

  • Jaco Pavlo says:

    like the lay out but would of liked to have the graphs and money showing at same time.
    had a few login problems over chrismas time but other than everything seems ok, not tryed to withdraw yet but here thats fine, think the posts part are helpful too.

  • Deian says:

    Great that I got my money back. Trustpilot rocks with new review channel

  • Clayton says:

    Very easy and simple! Awesome Customer Service as well! Would highly recommend them!

  • Adoley says:

    Sent 2 tickets for 2 separate problems where one – trades opened twice by system and second, trade did not open at my requested rate! The so called 48 hours response time has passed yet no response? Could someone get back to me?

  • Annette says:

    I believe the company can be more proactive in their customers service response and also i can see many negative feedback on forums such as slow withdrawal of amounts from the accounts. I think the company can improve on these points.

Load more reviews
FXTM Crypto & Forex Broker Review
FREE TRADING ALERTS SIGNALS TRADE THE TOP CRYPTOCUREENCIES AVAILABLE IN MULTIPLE COUNTRIES
official Wbsite >

Authorized broker

EuropeFX Forex & Crypto Broker Review
hfmarkets-logo
InstaForex_Logo