The market has grown in manifolds with so much to offer; traders can use advanced technologies and service providers to have a successful trading career. There are several online brokers, financial institutions, and exchanges that render their services to enhance trade and profits. A trader who selects the best broker working as per the requirements will have trade experience.
But, the query that arises here is which to select from the list of brokers out there in the financial market. Here, in the article, we have discussed the best broker that has an all-in-one service.
FXTM broker is a great choice; the online broker is based in the UK and has been in the sector of financial services since 2011. The broker is a global leader that has made the market accessible for traders worldwide. All the investors with various ambitions can trade with the global broker to have a profitable trade.
FXTM Review: Pros and Cons
All the financial service providers have pros and cons that impact their trade services. FXTM is a global leader with proper regulation and authorization, here we have listed both pros and cons for the readers to quickly summarise the broker and its functions:
Pros:
- Regulated
- Easy account opening
- Lowest deposit requirement
- Customer services
- Low spreads
- Education materials
- Segregated funds
- Trading platforms
- Analysis tools
- Various accounts
Cons:
- Charges withdrawal fee
- Spreads on stocks are higher
FXTM Review: Regulation and Scam
FXTM is a brand that operates under the Exinity Group with a specialization in leverage trading and providing investors with potential opportunities to generate good returns. The broker is regulated by various authorities such as:
- Cyprus Securities and Exchange Commission with license number 185/12
- Financial Sector Conduct Authority with license number 46614
- Financial Conduct Authority UK licensed 600475
- Exinity is regulated by the Financial Services Commission of Mauritius with license number C113012295.
So, the broker has so many bodies to regulate its working and make the broker a legitimate one to trade with. Therefore, FXTM broker is not a scam.
FXTM Review: Trading Account Types
FXTM broker believes that a trader’s journey begins with the trading account so, selecting the best will boost the trade. With the online broker, traders can have access to all types of trading accounts, from a beginner’s trading account to expert and daily trader of the market. So, FXTM provides three types of trading accounts discussed below:
Micro Account
The micro account of the FXTM broker is an instant execution account, where the traders who want to begin their trade can invest. The account has a low deposit, zero trade commission, and many more to make it worth a trade. Here we have incorporated the features of the trading account:
- Minimum deposit $10
- MetaTrader4 trading platform
- Zero trade commission
- Tight spreads
- Customer support
- Education
- Demo account
Advantage Account
The second account offered by FXTM is the advantage, where the trade has market execution, and it is the cheapest account of the broker. It is the most popular account of FXTM. The account has trading platforms to choose from and several other facilities like:
- Minimum deposit $500
- Trading platform MetaTrader4 and MetaTrader5
- Trade commission from $0.4 to $2
- Ultra tight spreads from 0.0 pips
- Several options to invest
- Customer support
- Education
- Demo account
Advantage Plus Account
A better version of the advantage account with market execution of the trade. Traders have several advantages with the account. Here traders have to pay no extra charges and can enjoy the trade with tight spreads. So, let’s know the offers of the account:
- Minimum deposit $500
- Trading platforms MetaTrader4 and MetaTrader5
- Zero trade commission
- Tight spreads
- Customer services
- Education
- Markets to invest
- Demo account
FXTM Review: Account Opening
Trading has never been that easy in the financial market; FXTM broker has an easy and quick account opening process to provide traders with time to analyze the market and invest. Here are the few steps to open a trading account:
- The first step of opening a trade account with FXTM is to register with the broker at their official webpage: FXTM.com; then, traders fill in the form with their name, contact details, email address, and set an account password for security. The account is verified by the broker with SMS or PIN service.
- The second step after registration is to fill in the information and the questionnaire that the broker requires for a regulated trade and all the necessary details of the investors.
- The questionnaire contains questions regarding the experience of the trader and knowledge for better trade with the broker.
- The next step is to choose the account type that suits the need of the trader; it could be a micro, advantage, or the advantage plus account.
- The following step is to upload documents for verification by the broker. It is a simple step for identity verification, where the trader gives a document of residence proof or identity card etc.
- The fifth step of the process is to wait for verification by the broker, and once done then traders can get access to their activated account, deposit funds, and begin the trade.
FXTM Review: Trading Platform
The online forex broker has the most preferred trading platforms, MetaTrader4 and MetaTrader5. A trader can use the two trading platforms to predict the market fluctuations and get access to the analysis tools. The micro account provides access to only MT4, whereas the other two accounts, advantage, and advantage plus, provide both the trading platforms.
MetaTrader4 (MT4)
MetaTrader4 is the first trading platform introduced in 2005 by the MetaQuotes company for easy forex trading. The trading platform since then has been used for various other markets and has great popularity in the financial world. It has the following features to offer:
- Access to a range of markets
- Interactive and easy-to-read charts
- Real-time market access
- 30 plus technical indicators
- Powerful security system
- Multi-device functionality
- Multi-Account Manager service
- Expert advisors
- Automated trading
- Charts and patterns
- Downloadable easily
- Works with all devices
- 9 different time frames
MetaTrader5 (MT5)
MetaTrader5 is the software that was introduced in 2010 by the MetaQuotes company with the latest technology. However, it is not an extension of MT4. It is a versatile software with smart technology. Traders can have the following features with the MT5 trading platform:
- 30 plus languages
- Easily downloadable for all devices
- Broader access to financial markets
- Fundamental and technical analysis
- Automated trading
- Charts and patterns
- Multi-thread strategy tester
- Indicators
- Expert advisors
- Libraries
- Scripts
- 21 different time frames
- Real-time trading
Moreover, traders can find a comparison of the two trading platforms with the broker. They help traders analyze and choose the one that suits their investment.
FXTM Review: Trading Instruments
The online broker has several trading instruments and markets to invest their funds. They can select from the options and accordingly invest in the financial markets. They have a wide range of assets from markets given below:
- Forex
- Metals
- Stocks
- Commodities
- FX Indices
- Indices
- Stock CFDs
- Stock Baskets
FXTM Review: Commission and Spreads
The pricing and extra charges of the broker are minimal; a trader does not need to worry about FXTM. The account holders have to zero or a low commission with the trading accounts of the forex broker. With the micro account, traders are required to pay zero trade commission, the advantage account has a commission charge from $0.4 to $2, and lastly, the advantage plays account has no trade commission charges.
Spreads are the difference between the bid and the offer price of the instrument traded. Traders can have some spread charges with the instrument they are trading; the micro account trade has tight spreads, the advantage account has ultra-tight spreads starting from 0.0 pips, and the advantage plus account has a tight spread to charge.
Keeping these in mind, a trader can select the account and the trading instrument to invest in.
FXTM Review: Leverage
Leverage is the hype that traders or investors get from the broker; they can use the leverage option to open with a high market position with a low initial investment. However, it is like a debt that traders have to pay back to the brokers. If it doubles, the investment traders have huge profits, but if the opposite happens, traders are at a huge loss.
FXTM has fixed leverage for the Micro account given below:
- Forex Majors 1:1000
- FX Minors 1:500
- FX Exotics 1:50
- Spot metals 1:500
Traders can also go for those entities that provide a high leverage ratio of 1:400 or 1:500 and 1:1000. Moreover, traders can know the process of calculating the leverage with the broker.
FXTM Review: Deposit and Withdrawal
The deposit and withdrawal of money with the FXTM broker is simple; through an easy process, traders can concentrate on the market opportunities and trade. Traders can deposit the funds in their trading accounts with banks, e-wallets, and credit/debit cards. They can use the following for deposit:
- FasaPay
- Online Banking 2
- Moroccan Local Transfer
- Southeast Asia Online Banking
- Teleplay Local Transfer
- African Local Solutions
- Turkish Local Transfers
- PayR LATAM
- Visa
- Mastercard
- Google Pay
- Maestro
- Skrill
- Neteller
- Web Money
There are several options that could be checked out on the website of the broker.
Withdrawal of funds is also possible with the above-given credit/debit cards, e-wallets, and bank wire transfers. A trader can easily withdraw the funds from the accounts by informing the broker in advance for verification and security purposes.
FXTM Review: Education and Research
Today’s online brokers not only help their clients to trade but advance their knowledge with news and information, keep the basics of trade clear and learn with time. To serve this purpose, FXTM has an education and research facility for its clients. The trader can educate using the following:
- Articles
- Ebooks
- Glossary
- Videos
- Periodic table
- Webinars
- Seminars
Research is also essential for the trade to understand the market better and its operations. For that, FXTM has:
- Podcasts
- Economic Calendar
- News Timeline
- Market analysis videos
- Market analysis team
FXTM Review: Customer Support
For contacting the professional team of FXTM, clients can directly contact them from the following methods:
- Contact number: +44 20 3734 1025
- Timings: Monday to Friday
- 24 hours availability
- Live chat option
- Different country’s contact details are provided
- Email address: [email protected]
Thus, offering several modes to connect with the team and resolve the doubts.
Final Verdict : FXTM Review
FXTM broker has all the services that a trader requires for advance trading and getting informed all the time. They have the best account, trading platforms, leverage options, customer support, education, and research, which enhance the client’s trade. However, traders should select when they are sure and what to invest in.
In addition, the broker is regulated by many authorities, making it a trustworthy broker online.
