FXTM Review: Reap the Benefits of Excellent Trading Conditions With FXTM
When you read the news, you often come across tidbits about traders making it big overnight or in just a few days. The trading market is a volatile and sensitive one and tables can turn within minutes, hours or days. If you decide to tap into this market’s potential, you have to find an online broker who offers you the latest features and tools and doesn’t make any compromises when it comes to security and quality. As the trading world has gone online, there have been an inflow of brokers and you can literally find hundreds of options at your disposal. Sure, these brokers can also give you the option of accessing numerous markets, but you need to check other aspects as well.
83% Win Rate$250 Min DepositAccepts Credit Card
FXTM is one broker that was established in 2011. What does that tell you? Put simply, it means that this broker is not a new one and during its time period, FXTM has certainly got itself a strong reputation. It has taken the spotlight by offering a comprehensive solution to traders in more than 60 countries around the globe. It has combined all features offered by the top brokers such as a robust and secure trading platform, excellent trading conditions and a wide array of tools and has still maintained complete transparency.
Whether traders are just getting started or have been in the market for a while, they find it easy to adapt to the trading environment at FXTM as the user interface is responsive and flexible and a number of trading platforms are available for the ease and convenience of the users. Its offerings include the popular MetaTrader4, which is one of the most widely used trading platforms and is preferred because it has some very useful offerings. The MT4 comes with a ton of charts and graphs that traders find appealing because it provides them with comprehensive information that can lead to better decisions.
Downloading the MT4 is a quick and easy process and the platform doesn’t suffer from any delays or lags when executing trades and transactions. In addition, the MT4 also provides users with Expert Advisors (EAs), which means that traders can set their desired parameters and benefit from automated trading. The good news is that FXTM has kept up with technological advancement so Mobile trading platform is also available for Android and iOS smartphones and other mobile devices. With this option, trading on the move is extremely simple and transactions can be executed rapidly.
This Mobile platform also has useful features and services and there is no learning curve involved when using this option. The Web Trader is the third option and is for traders who are more comfortable with the browser experience. There are no downloads required so installation is not needed either. The design and functionality is cutting-edge and the platform itself is quite user-friendly. Again, tools are in abundance with this platform, which help traders in making profitable decisions and moves for meeting their trading goals.
FXTM gives its clients the option of choosing from different account types when they decide to use the broker’s services. No matter what account you sign up for, you can use any of the trading platforms that the broker has to offer. There is no restriction, regardless of the account you choose to make and this is a definite bonus and not many brokers offer this freedom. As far as the signup procedure itself is concerned, it is a bit more detailed than other brokers and this is due to security reasons. Nonetheless, if traders have all documents ready beforehand, the signup will be completed quickly and they can get started.
Firstly, the basic information like full name, address, phone numbers, email addresses and date of birth has to be provided. Your identity verification can be performed when you submit your passport, driving license or any other form of ID. Address verification can be done with utility bills, bank statements or other similar documents. Credit card pictures also need to be provided if you are planning to use it for funding your account on FXTM. Once this information is submitted, your next step is selecting an account type.
The options you are given by FXTM are:
The name is rather self-explanatory. The Starter account is designed for starters in the trading world who are completely fresh and have no experience, whatsoever. As aforementioned, the trading world is a volatile one and it is best to ease into it slowly instead of just diving in headfirst. FXTM has ensured that this beginner account has everything newbies need like a personal account manager, training, Expert Advisors and also fixed spreads. Market news is also made available and the Education and Resource center is also open to learn as much as possible about different assets and markets. Hedging is permitted and the account carries a minimum deposit of 250 EUR/GBP, which makes it a good option for beginners.
Kicking things up a notch, FXTM introduced this account option for traders who are now willing to take some risks because they are becoming familiar with the ins and outs of the market. From fixed, you get floating spreads and leverage goes to 1:100 to make things interesting. Traders can also benefit from webinars conducted by experts, which contains a ton of useful information that even experienced traders consider useful.
This is the third account option and is created for experienced traders who have been around for a while and have garnered plenty of skills during their time. At this stage, they can benefit from one-on-one training and also learn a lot from an Experienced Consultant. The leverage gets a boost as it reaches 1:200 and daily market alerts are also made available for timely trading decisions.
VIP and Professional traders also have an account designed especially for them on FXTM. These are traders who are very ambitious about moving up in the trading world and can actually make use of everything the broker has to offer; from its design to its features. Therefore, a personal bonus is also given to these brokers as a way to motivate them.
The purpose of offering several account types to its clientele shows that FXTM truly wants to be a one-stop solution for traders of different backgrounds. Every trader has the option of choosing an account they are comfortable with and fulfills their needs in the best possible way. No matter what account you select, there are two currencies that are supported, which are the Euro and the Pound. Even if another currency is used, it is automatically converted into one of the currencies supported.
Once you have selected your account type and made an account, you need to decide what market you wish to trade in. It is up to you to select a single asset to trade or you can also choose to diversify your portfolio for balancing your risk and invest in different markets. One of the most appealing factors about FXTM is that it provides its uses access to around 2,200 financial trading instruments and you can select any, depending on your risk tolerance. While other brokers also offer numerous instruments for trading, there is one that FXTM has introduced; Cannabis stocks.
Cannabis is gaining acceptance in various places around the world, which means that there is a possibility of earning high profits by investing in it. Thanks to FXTM, traders can now buy stocks of top Cannabis companies including Cronos Group Inc., Tilray Inc. and GW Pharmaceuticals. Apart from stocks in Cannabis firms, traders can also choose to trade regular stocks via FXTM. The broker gives you access to stocks of some of the biggest corporations in the world in the tech and sporting industry. You can trade stocks round the clock and they are available at some of the best rates.
What more assets can you trade on FXTM? Let’s explore the options:
- Commodities: This particular market is popular among traders who like to invest in gold, silver, oil and natural gas and are not interested in other volatile markets. They are a safe option when you wish to keep your portfolio diversified and FXTM offers you 1:50 leverage and tight spreads for trading this asset.
- Forex: Another instrument that’s preferred by thousands of traders all over the world is foreign currency. There are popular currency pairs, which are not that risky and exotic pairs as well that carry a bit of high risk. The market is open round the clock and currency pairs have some of the most competitive rates available.
- Cryptocurrencies: One of the hottest instruments in the trading world nowadays is none other than cryptocurrencies. At first, it was just Bitcoin, but now the market has expanded due to which FXTM now offers trades the opportunity to trade others like Litecoin and Ethereum. These are highly volatile and available at a high leverage and the broker also offers a crypto wallet for convenience purposes.
- Indices: The broker offers you access to the popular and also niche indices, which can be traded 24/7. There are cutting-edge index strategy tools available, you can get real-time index quotes and alerts for price can also be set to make trading decisions quickly.
Regardless of what asset you want to trade, FXTM offers you Contract for Difference (CFDs) instead of the actual asset. This means that you can benefit from the movements in price of the asset you choose to trade. You will find in many FXTM reviews that the broker has also gained recognition because it doesn’t have a policy of charging any commission or fee from their customers. Your trading volume doesn’t matter to the broker so you can trade as much or as little as you want. Instead, it uses the spreads to make its own profit.
But, FXTM has made it clear that there is a 10 percent fee on their total balance is applicable on traders who leave their account inactive on the platform for more than six months. Thus, if you don’t want to pay these charges, you should ensure that you don’t leave your account dormant. However, charges can only be deducted when you have funds in your account on FXTM. So, how do you go about adding or withdrawing money?
In this aspect as well, FXTM has outdone itself by ensuring that its customers have access to a variety of payment methods. They want them to be able to make quick and fast payments and a secure payment gateway is used so no financial information is compromised or ends up in the wrong hands. If you want to use your bank account for making money transfers, the broker gives you the wire transfer option. The withdrawal request is first approved by the broker and then it is processed so it might take a while for you to receive your funds.
You also have the option of using debit and credit cards. Various cards such as MasterCard, Visa, Maestro, Diner and Delta are supported by FXTM. Moreover, it has also added online payment options for the convenience of its users and these include Neteller, Skrill and more. The broker also accepts Bitcoin payments as they are becoming more commonplace these days. If you still have any questions about their services, you can use the customer support option to reach out to their team and get answers. FXTM has given traders several avenues to get in touch with them and you can pick a method based on how quickly you want an answer.
There are phone numbers to their offices in the United Kingdom, Germany and Estonia. Email and an online contact form is also available. When all of these features are combined with the comprehensive education and resource center and the security aspects of FXTM, it cannot be denied that it is a reliable broker that offers great trading conditions.
83% Win Rate$250 Min DepositAccepts Credit Card