FXTM Broker Review
- Bonus up to $250, 24/7 customer support, low minimum deposit, regulation and education
|Headquarters||35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus.|
|Trading Platform||Mt4, mt5, FXTM trader|
|Minimum 1st Deposit||$10|
|Minimum Trade Amount||$0.01|
|Leverage||30:1 Retail & Up to 1000:1 Professional|
|Spread||Stocks Spread: 0.1% Var Oil Spread: 9 pts (var)|
|Free Demo Account||Open Demo|
|Regulation||CySEC, FCA, FSC|
|Account Types||Standard Account Cent Account Stock CFDs Account ECN Account Stock Account Zero ECN Account FXTM Pro Account|
|Number of Assets||100+|
|Types of Assets||FX, cryptocurrencies, precious metals and indices.|
|US Traders Allowed|
- Bonus up to $30, 24/7 customer support, regulated, low minimum deposit
- High CFD fees. It also charges an inactivity fee and in most cases, a withdrawal fee. The product portfolio is limited, as it lacks some asset classes like ETFs, bonds, mutual funds, etc.
FXTM Review: is FXTM legit or scam? Find out from this FXTM review.
FXTM (Forextime) is an award-winning premier global exchange broker that provides traders with the ability to trade CFDs and Forex on a global platform. FXTM was founded by Andrey Dashin at the end of 2011. The company specializes in leveraging complex derivatives, which provides traders with the potential to make good financial returns on both falling and rising markets across various indices, metals, commodities, and stock indexes. It uses the latest technology and highly sophisticated mathematical algorithms to give its customers excellent results.
However, One of the key things to understand about this firm and the types of trading that it does is that it brokers contracts, not actual money, however, you can get paid for your trades. Instead of paying for trades in cash, you can instead use points (fxtm points) and then utilize these points towards opening new accounts, facilitating trades, and receiving additional trades once they are established. These additional trades can be used to hedge risks, offsetting any losses with additional gains, or for other purposes. However, this means that the trader is able to maximize his profits while taking care of the minuscule risk associated with CFD trading.
FXTM Trading Platform
FXTM has launched its new and innovative platform, which is known as FXTM Fxtrader (MT4). The name itself tells everything about the nature of this trading platform. It is meant for brokers who have been in the forex market for quite some time and traders who are still trying to find ways and means to improve their efficiency.
In fact, many brokers claim that the extra platform has been the reason behind their success, even though there are quite a number of other factors that contribute to their success. In fact, there are also quite a number of brokers like shift holdings. Who have decided to launch their own trading platform in order to gain market share and increase their market penetration amongst the traders and customers.
Since the demand for these platforms is very high and there are quite a number of manufacturers and suppliers of these platforms, competition among them has been quite fierce and the only way for any trader to gain advantage over the competition is by creating his own customized trading platform.
Who Is To Use ForexTime Platform?
If you are an experienced trader, then you may opt for a standard account type. This is common among almost all leading brokerages and firms. However, if you are a new trader, then it would be better for you to open your own trading account. In this, you can learn more about the whole process and how you can get the best results. When you opt for a standard account, you will have to open a separate account from the FXTM. This way you will not need to deal with the problems associated with currency exchange when you want to access your broker’s tools. In fact, with the help of a computer and internet connection, you can manage your own trading platform from any place at any time. However, there are several advantages that come with the Cypriot standard accounts including:
As you start to trade on the Forex market and want to increase your profits, you will have to increase your leverage. However, this will not work well when you are not aware of the risks associated with leverage. With a reduced level of leverage, MT4 spreads start to affect you as you try to increase your returns on investment. Most traders end up losing a lot of money because of this fact. However, if you use a proper tool such as a MT4 spreads guide to reduce the effects of leverage on MT4 spreads and make your profits even bigger, you can use the right tool for the job
Generally, the MetaTrader4 software is the best trading platform for forex. If a broker offers mt4 trading platform, it’s good. However it’s a sign of true innovation and beginners friendly platform. In the process of our FXTM review, we noticed that the mt4 they offer is well built with intuitive interface. You can use MetaTrader 4 on PC, Mac, mobile and tablet. So there’s nothing to worry about iif opening account with FXTM broker.
This is also another trading platform developed by Metaquote software. It’s very easy to navigate and beginners friendly interface. This platform on forextime is available in 30 languages. However, you can download on your PC, Mac, mobile and tablet, allowing you to trade from anywhere in the world. MetaTrader5 is for professional traders, use the knowledge base before investing.
One of the advantages of using fxtm is that it does not require the use of any of the complicated technical analysis software necessary to successfully trade on the Forex market. Instead, traders can rely exclusively on the proprietary technical indicators and signals that are available through the software platform. These signals and indicators allow traders to take advantage of the trend of the price movement. More-so to identifying possible short and long term profitable opportunities.
Another benefit to using fxtm is that the trader is able to reduce the costs with traditional trading. For example, fxtm allows the trader to establish a minimum deposit which acts as the cushion for large losses. Since the fxtm market does not function with any of the standard spreads, there is no need to worry about dealing with spreads. In addition, the fxtm system also provides the trader with full control over the trade. This includes the amount of money on each trade as well as potential stop loss amounts. Many times the fxtm trader can generate his own stops, knowing that he has at least some buffer built up before he makes a move which reduces the chance for costly mistakes.
Firextime broker offer traders multiple contact information about them. You can visit the location Business location address: FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus. However, you can contact them via email, phone calls, contact form or live chat. The customer support agents are good and understand customers need. This support is 24/7, in all languages.
Is FXTM Legit?
We are not surprise that traders ask if fxtm is legit. Some shits happen in financial markets, however some of this shits are cosed by greedy brokers. Facts about fxtm fxtm broker are transparency and honesty. However in the process of our fxtm review, we noticed that they are legit and reliable. The platform is trustworthy to use, more-so, it’s best forex broker so far, with good tracking record. Therefore, if you want to start trading with FXTM, just open account. Fxtm is legit, this is a review from our traders.
Demo Account: Yes
Min Deposit: $10
|$200||Visit Broker Read Review|
Demo Account: Yes
Min Deposit: $5
|750$ depends||Visit Broker Read Review|
|Regulation: CySEC (Cyprus)
Leverage: 30:1 Retail Traders, 1000:1 Professional Traders
Demo Account: Yes
Min Deposit: $10
|200||Visit Broker Read Review|
Is FXTM Regulated?
Fxtm broker is legit and reliable, however have a license from major regulatory agencies. ForexTime UK Limited (www.forextime.com/uk) is authorised and regulated by the Financial Conduct Authority with license number 777911.
FT Global Limited (www.forextime.com) is regulated by the International Financial Services Commission of Belize with License numbers IFSC/60/345/TS and IFSC/60/345/APM.
More-so, Card transactions are processed via FT Global Services Ltd, Reg No. HE 335426 and registered address at Tassou Papadopoulou 6, Flat /office 22, Ag. Dometios, 2373, Nicosia, Cyprus, a wholly owned subsidiary of FT Global Ltd. Address for cardholder correspondence: [email protected]
Finally, we will conclude our FXTM review by telling you to start trading with the broker. Overall, fxtm trading represents an excellent alternative for traders who have difficulty switching from their current trading methodology. Therefore, using fxtm instead of traditional methods will enable traders to benefit from many of the benefits offered by forextime. Thereby not needing to change their entire investment portfolio. While fxtm broker does require a significant initial investment. The amount of return can far outweigh the initial investment provided by this form of trading. However, traders who successfully implement fxtm could quickly multiply their profits and be reaping the benefits of their forex trading. Therefore, other brokers you can look at if not FXTM broker, is xm. More-so, to you can benefit from forex signals and investment at worldmarkets. See our top 5 uk forex brokersVisit Broker