They give access to not just trading forex but also other financial instruments like stocks. The broker also offers a range of ECN accounts which are available starting from a much lower spread, in some cases from 0 pips, though a commission starting at $2 per lot traded is applied. If you are a more experienced, or high volume trader, then an ECN account type may be the right choice for you. They are currently headquartered in Cyprus but offer services in forex trading and many other assets to traders around the world.
Account Base Currency
Available leverage differs according to the asset class, with the most leverage available with CFDs on forex and metals and the least with CFDs on shares. When testing phone support, I experienced short wait times and received helpful responses. I asked a range of questions, from easy to difficult, and had a positive experience overall. I tested FXTM support via live chat and phone with dozens of inquiries over a two-week period.
- Lastly, ThinkMarkets offer MetaTrader 4, 5 and their own developed platform ThinkTrader, the no.1 mobile trading app in the world.
- Forextime does not levy internal deposit fees but charges for withdrawals, which is unfortunate.
- This could be considered the original or “classic” FXTM account type.
- The brokerage has been recognized with 25+ industry awards since it launched over a decade ago.
- The lowest available spread is 0 pips but this is on the FXTM Advantage account with a minimum deposit of $25,000.
Payment Methods
Unlike ECN or Non-Commission accounts, the best forex broker for beginners are fixed spread accounts that don’t have floating spreads. This means that traders know the fees a broker will charge over time adding certainty when training. Often fixed spread brokers also will have other risk management tools included such as guaranteed stop losses. FXTM is an award-winning broker with strict regulation in multiple jurisdictions.
Before you trade, AskTraders.
These are Bitcoin, Ethereum, Ripple, and Litecoin and all are traded as CFDs. On the individual stock side, there are 50 European stock CFDs and 123 from the US, which again is far from a comprehensive offering. As highlighted above there are the fxtm broker reviews typical global averages, but only 11 to trade. For individual stocks, there 123 US and 50 European stock CFDs, which again is far from an exhaustive list. The overall offering of CFDs is not particularly impressive for a broker of FXTM’s stature.
Fusion Markets
That’s because ForexTime FXT is registered in countries with strict deposit protection schemes and has built up a solid reputation since opening for business in 2011. Meanwhile, more advanced users will be able to use the ForexTime FXTM Pivot Points Strategy to enhance their trading style. This FXTM tool enables you to perform five-point calculations to decide what position to take on a range of financial instruments. With its superb range of trading resources and convenient mobile application, ForexTime FXTM is an excellent option for anyone who wants an easy entry point into foreign exchange trading. This risk is higher with Cryptocurrencies due to markets being decentralized and non-regulated. You should be aware that you may lose a significant portion of your portfolio.
Withdrawals
FXTM’s Pivot Points Strategy uses three popular technical indicators combined with your own choice of five pivot point calculations to assist with your trading and help determine the market sentiment. I think pivot points are brilliant for identifying key price levels and I have often used them in the past for entry/exit signals and money management. Client funds are held in segregated accounts with prominent banks so that they cannot be used for any other purpose within the company. Eligible clients may be entitled to protection of funds under the Financial Services Compensation Scheme (FSCS). DayTrading.com is committed to helping traders of all levels make informed decisions about which broker to trade with. If you have experience trading with FXTM please share your personal review of the broker and what you think are strong and weak points.
On the stock index side, there are the usual global indices, but these only number 11. FXTM offers a $ 4 / lot cash back rebate program for those switching over to FXTM from another broker. FXTM has been awarded several awards for their trustworthiness and transparency. Traders at FXTM can rest assured that their funds are held safely in segregated accounts at established Banks.
The exception here being if you have opened an FXTM Islamic trading account. A second major area outside the forex market where FXTM performs very well in terms of investment products offered, is in stocks. Through the broker, you can trade in more than 170 stocks in companies from both the NYSE, and NASDAQ. Many of these stocks are not only offered as CFDs, but also for real trading. Overall, the FXTM pro account has lower spreads, more liquidity and faster execution speeds. Out of all the accounts FXTM offer, this would most likely be the preferred choice for professional traders, institutional traders and hedge fund managers.
You also get your own account manager who is on hand to assist and offer personalised support. I have found them to be excellent when it comes to support, always quick and helpful in their responses. Opening an account to trade with FXTM is a quick and easy process that can be done online. You will then need to verify your email address and upload a form of identification and to confirm your address for KYC purposes. Once verified by the accounts team, you can fund your account and start trading. FXTM minimum deposit requirements vary by account type and by region.
Instead, the forex broker makes its money primarily from the spread (the difference between the buy and sell price). These spreads will differ based on the currency pair and the time of the day. Generally, the more major traded pairs such as the EUR/USD will have lower spreads than more exotic pairings.
An experienced media professional, John has close to a decade of editorial experience with a background that includes key leadership roles at global newsroom outlets. He holds a Bachelor’s Degree in English Literature from San Francisco State University, and conducts research on forex and the financial services industry while assisting in the production of content. FXTM exclusively uses the MetaTrader family of apps for mobile trading. 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.
The FXTM Pro Account caters to professional traders, as the name suggests. FXTM also advertises it to institutional traders and hedge funds. It requires a minimum deposit of $25,000 or currency equivalent to open. 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. Often termed as ‘standard accounts’ these brokers (or accounts) have no commissions.
Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account. The selection of tradable instruments at FXTM is highly diverse and can accommodate a range of trading strategies. For example, day traders can take advantage of the high levels of volatility in natural gas, while long-term investors can buy https://forexbroker-listing.com/ and hold 500+ different US shares. MetaTrader lacks robust research content within the platform itself, which is crucial for staying on top of market news. However, news traders can take advantage of FXTM’s economic calendar, fast execution speeds (sub-50 ms), and robust in-house research materials. 1-click trading and fast execution speeds enable scalpers to be nimble in the market.
These include Hussein Al Sayed an expert on the MENA area, Lukman Otununga, a macroeconomic events analysis expert, and Han Tan, a SE and Asia Pacific area expert. All of this while on the go through your mobile device and a very easy to use platform. MT5 with FXTM is available only if you have an ECN account and it still may not be available in some countries. Again the platform functions through Windows, MAC, iOS, and Android where needed. The FXTM leverage which is available to you will depend on a couple of factors.
You can also view our 5 effective trading tips, share vs. currency trading guide, commodities and overall trading strategies. If you see any element (no matter how basic) that may require updating, feel free to contact the authors using the Contact Us form. We aim to update this site regularly and provide dates on each page of when the last update was.