FXTM Reviews Read Customer Service Reviews of forextime com

People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active. This seems to be a duplicate comment/review based on another case we are investigating. Please do not post duplicate reviews since this leads to confusion and unnecessary delays to verify information. We are following up on your case to resolve it ASAP based on your previous review and you can continue your conversation or sentiments there. The second step to opening an FXTM Account is to complete a simple online registration form. Once the registration form has been completed, the account holder will receive a PIN via email in order to confirm their newly registered account.

I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database. The registration and account opening process at FXTM is simple and completely digital, as per our FXTM review. The online registration takes about 25 to 30 minutes to complete, and even a demo account is easy to open.

FXTM Customer Reviews

FXTM also maintains its FXTM Trading Signals service for traders seeking actionable research. Forextime offers excellent spreads in its commission-based account, making it one of the cheapest Forex brokers in the entire retail Forex industry worldwide. I like the regulatory framework at FXTM, ensuring traders have access to competitive trading conditions and superior protection. FXTM is a member of the Honk Kong-based Financial Commission, where the Compensation Fund protects traders up to €20,000 per claim. It is identical to what CySEC offers but does not come with regulatory restrictions. Trading with a regulated brokers will limit the potential for fraud and malpractice.

Please contact us via email or Live Chat and we’ll assist you with any enquiries. Traders can follow experienced Strategy Managers in the state-of-the-art copy trading program FXTM Invest. Convenient, secure, and offering local payment solutions, FXTM’s funding methods are tailored to all circumstances.

Educational Resources Offered by FXTM

Clients can choose from among several account types to suit different trader profiles. FXTM also distinguishes itself by being overseen by two top-tier regulators and by offering a proprietary mobile app. Established in 2011, FXTM is a global forex and CFD broker headquartered in Limassol, Cyprus. FXTM offers trading in forex and CFDs on commodities and indices via the MetaTrader platform and the FXTM Trader App.

MetaTrader is also popular due to its copy trading and automated trading features. Swap fees (the cost of holding a position overnight) were average at FXTM. In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, the size of the company, and how transparent they are in terms of readily available information.

FXTM Invest

The demo accounts are also available in multiple languages, making it accessible for traders from different countries. However, it’s important to note that demo trading doesn’t completely simulate the emotional and psychological aspects of real trading, which could affect a trader’s performance in the live markets. FXTM offers three different types of trading accounts, which are the Micro account, the Advantage account, and the Advantage Plus account. Each account type has its own unique features and benefits, such as different minimum deposit requirements, leverage ratios, and spreads, allowing traders to choose the one that suits them best.

Many similar brokers are offering such spreads and low trading costs. FXTM Group aims to give the tightest spreads at the best prices. The FXTM web trading platform spread starts at 0 pips on forex currency pairs such as GBPUSD and EURUSD. Traders can maximize their potential with the improved pricing structure as they participate in market execution and instant execution of trading and investments; it also doesn’t have high non-trading fees.

FXTM offers a swap-free Islamic account that adheres to the principles of Sharia law. To activate this option, FXTM asks clients to provide an official document that shows their religion. In addition, relationship managers who speak English, Chinese, Spanish, French, Polish, Italian, and Arabic are available for FXTM clients. In the case of the Micro account, FXTM uses Instant Execution, and for Advantage and Advantage Plus accounts, Market Execution is used.

FXTM

These platforms are available in desktop, web, and mobile versions, allowing traders to trade on the go and from anywhere in the world. It consists of phone support, including a call-back function, e-mail, and an FAQ section. FXTM also provides live chat on its website or via WhatsApp, Viber, Telegram, or Messenger.

FXTM does offer a free demo trading account for beginners to practice forex trading in a 100% risk-free environment. FXTM brokers have produced a list of educational videos developed by John Jergeson, who is a market expert talking about fundamentals and basics as well as advanced tactics of risk control and technical analysis. Like many other forex brokers, FXTM also offers partnership programs that allow new traders to earn commissions and rebates by partnering with FXTM. The FXTM partnership program is divided into two categories where traders can either register as an introducer or become an affiliate with the platform. The account verification process takes about a few minutes, and the brokers create an account as soon as the verification is complete so that traders can start trading at FXTM with the deposition of a minimum deposit.

For the Advantage Plus account, the spreads start from 0.0 pips, and a commission of $4 is charged per lot. It’s important to note that the spreads are floating and may widen during periods of high market volatility. We got clear answers even for more difficult questions, like how financing costs are calculated. Besides live chat, you can also chat with FXTM through WhatsApp, Viber, Telegram and Facebook Messenger.

• FXTM charges a monthly inactivity fee of 5 EUR/USD/GBP/NGN to accounts that have been dormant for six consecutive months.
• In this review we’ll try to find out whether this broker is another scam or not.
• We rated support at FXTM as reliable and better than average for the industry.
• Click here to see a detailed table in the Deposit and Withdrawal chapter.
• FXTM offers MetaTrader 4 for desktop, which includes advanced functions such as copy trading and automated trading.

After you download the MT4 mobile trading platform, you have to access the FXTM server, e.g. A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you don’t have to pay a conversion fee. These catch-all benchmark fees include spreads, commissions and financing costs for all brokers.

FXTM not only owns a strong customer service team for traders but also has a very sound regulatory system. The minimum deposit at FXTM for the Micro Account is $50 or a currency equivalent. The Advantage and Advantage Plus alternatives each require a minimum deposit of $500. While this latter figure is relatively high, I believe the trading conditions offered here are more than worth the deposit size. The four-member research team at Forextime provides market commentary and analysis in written format, short YouTube videos, and podcasts. They offer a brief overview and an informative take on market events.

Forex rebates (or cashback) is cash you get back (ie cash-back) for each trade you make. Just like with any cashback, you get paid back for performing your regular transactions with the https://forexhero.info/ service (a forex broker in our case) and get paid back part of the cost you’re being charged by ForexTime / FXTM. A $5 monthly inactivity fee applies after six months of dormancy.

FXTM offers customer support via live chat, phone, and email during office hours ( Monday to Friday, 6 am to 4 pm GMT / GMT+1 DST). Clients of FXTM are assigned a dedicated customer solutions representative. We rated support at FXTM as reliable and better than average for the industry. Spreads, swaps, and inactivity fees at FXTM are roughly average for the forex and CFD industry.

On the website, in the ‘Market Analysis’ section, you can find market updates and various research tools, e. A Forex News Timeline, as well as market analysis videos published by FXTM. You can find them in MyFXTM, under ‘Trading Services,’ and within that the ‘FXTM Trading Signals’ section.

• The tradable instruments and available platforms are rather basic at FXTM.
• This seems to be a duplicate comment/review based on another case we are investigating.
• For example, you can receive a cashback of 0.5 pip for each EURUSD trade but no cashback for GOLD trades.

FXTM has a useful section explaining trading strategy concepts and outlining the rules to nine different forex trading strategies, for example the ‘Bladerunner Trade’. Traders can find an archive of previous webinars on the website, the most recent being from August of 2020. Five ebooks are available to clients, covering cryptocurrencies, Japanese Candlestick strategies, the habits of successful traders, and Elliott Wave Theory. One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. 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.

More competitive trading costs are available via the Advantage account type, which gives a discount based on trading volume but requires a higher account balance. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 67-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.

For trading on the go, clients can use the proprietary FXTM Trader mobile app. The MetaTrader platform has advanced functionality but is not highly intuitive and fxtm forex broker review may take beginners some time to master. The FXTM Trader mobile app has an attractive, user-friendly interface but is relatively basic in its functionality.

Withdrawals can be made using the same methods as deposits, with the exception of Mastercard. Withdrawals made through credit/debit cards may take up to three business days, while withdrawals made through e-wallets are usually processed within 24 hours. Bank wire transfers may take up to five business days for the funds to be credited to the trader’s bank account. Another advantage of FXTM’s trading platforms is their compatibility with a range of devices, including desktop, mobile, and web-based platforms, making it easy to trade on the go or from any device. In addition to forex, FXTM offers trading in spot metals, which include gold, silver, and platinum. Spot metals can be a useful tool for diversifying a portfolio or hedging against inflation or geopolitical risks.

All these are also offered by similar brokers in the market, making it a must. FXTM offers traders the MT4/MT5 trading platforms and has developed its proprietary mobile app, FXTM Trader. It upgrades MT4 with six plugins plus its Pivot Points Strategy, featuring live updates and commentary from the FXTM Head of Education, and the mobile app is user-friendly and easy to use. They ensure traders have an edge versus the out-of-the-box versions most brokers offer. The FXTM Pro Account caters to professional traders, as the name suggests.