Equity CFD trading is commission-free as Forextime joined the group of brokers catering to millennial and GenZ traders favoring no commissions. I want to stress once again that commission-free does not necessarily equal cheaper trading costs. Spreads are generally higher, often twice as high, than commission-based offers, and FXTM is no exception. FXTM offers traders the MT4/MT5 trading platforms and has developed its proprietary mobile app, FXTM Trader. They ensure traders have an edge versus the out-of-the-box versions most brokers offer.

Platforms and Tools

Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing.

Does FXTM have fees?

Besides the wealth of informative educational materials on the FXTM site, this platform has a solid customer support service. You can get assistance from agents 24 hours a day over the phone, via live chat, or through third-party platforms like WhatsApp and Telegram. We’ve built our business around helping clients to trade and we’re delighted to have won over 25 awards since 2011 in recognition of this.

Release your inner trader

Its UK license may entitle account holders to state compensation in the event of broker bankruptcy of up to £85,000. A major advantage of using this trader is that FXTM is regulated by authorities in the UK and Cyprus, both of which have deposit protection insurance. As a consequence, if you are trading from within the EU or UK through FXTM, you could be eligible for £85,000 or €20,000 in cases of brokerage insolvency. FXTM’s three non-ECN accounts are the Standard, Cent, and Shares accounts.

FXTM established itself among the most trusted Forex brokers industry-wide. FXTM does not charge internal fees, but third-party payment processor costs may apply. FXTM is a legit company, operating with four regulatory licenses and acquiring a fifth. FXTM’s minimum deposit for residents of South Africa is only $200. FXTM caters to most international traders, including the UK, India, Malaysia, and the Philippines.

Cent accounts work in a balance of cents rather than dollars and have a tiny minimum deposit amount of $10. ECN accounts are designed for forex experts and don’t have a maximum number of orders or volume of lots in an order. Trading with an ECN account results in a better rate thanks to a reduced average percentage in point (pip) values but requires a higher minimum deposit amount.

The degree of transparency is another positive I want to point out. Big Four accountancy PricewaterhouseCoopers Limited (PwC) audits published statistics per International Standard on Assurance Engagements (ISAE) 3000. Whatever kind of trader you are, you can be confident that FXTM is a safe way to make foreign exchange trades. That’s because ForexTime FXT is registered in countries with strict deposit protection schemes xcritical official site and has built up a solid reputation since opening for business in 2011.

1. Forextime is also acquiring a regulatory license in Kenya as it expands across the African continent.
2. It is identical to what CySEC offers but does not come with regulatory restrictions.
3. I want to stress once again that commission-free does not necessarily equal cheaper trading costs.
4. The ForexFXTM platform is full of handy features to help you manage trades.

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. As one of the successful brands running within Exinity Group, we’re specialists in giving you the potential to make financial returns on a range of financial markets. Whether you’re an experienced trader or completely new to it, we’re here to help you reach your goals. 3 – FXTM applies dividend adjustments on Stocks and Indices when positions remain open at the close of the trading session, on the business day before the ex-dividend date. However, kindly note that the dividend adjustment takes place before the market opening of the ex-dividend date.

LEVERAGE/MARGIN REQUIREMENTS5

8 – Micro Accounts offer a fixed leverage which is based on your experience and knowledge and can be changed within your MyFXTM. Simplify the gold market and get the knowledge you need to start trading. Check out our guide to gain the fundamental understanding and strategic insi… Forex (also known as FX) is short for foreign exchange the global marketplace to buy and sell foreign currencies. With friendly Customer Support, the latest technology and a range of account types, we’ve got everything you need to discover better trading. FXTM is legal, complies with four regulators, and has a clean track record.

A demo account is available at FXTM, and I did not find a time restriction. Therefore, it is ideal for testing strategies and expert advisors. Forex demo account is available for MT4 and MT5 and allows traders to select the demo account balance and leverage. While no demo account can simulate live trading conditions, the options available at FXTM come as close as possible to doing so. Forextime (FXTM) offers a commission-free trading account, Advantage Plus, and a commission-based alternative, Advantage. FXTM offers traders a commission-free and commission-based Forex account.

Whether you’re a trading beginner, a market expert or a long-term investor interested in stocks – you’ll find the trading account that’s right for you. We’re regulated in multiple jurisdictions and offer full segregation of funds for retail clients. Wherever you are in the world, we hold your funds with top tier banks, fully segregated from assets of the firm. We may extend these amendments for as long as we deem necessary after the market opening, by providing you with prior written notice. A swift online application onboards new clients, and the process takes less than 20 seconds, as FXTM does not collect unnecessary information.

I find this reasonable and acceptable, and active traders will never face this cost. You can choose between six different types of FXTM trading account. Three of these are Standard Accounts and three are Electronic Communications Network (ECN) Accounts. After that, you can finish the account-opening process in your browser or on a mobile device by installing the FXTM Trader app. In total, there are five steps to complete before you can begin trading. You’ll need to add personal and tax information to your profile, upload photos of some ID xcritical rezension and, finally, make a deposit.