MetaTrader is freely available on both Android and IOS mobile phones and tablets. The advantage of using the MetaTrader platform is the cross-device and multi-broker functionality, making it easier to change broker or use multiple brokers. We should note that Advantage Plus is almost the same, with the difference that spreads start from 1.5 and there are no commission fees on trading. FXTM has been receiving numerous awards from reputed organisations for their dedication towards customer satisfaction and continues to outperform its rivals in all aspects. ForexTime has been voted as the Best Forex Broker in Europe and Africa last year and is a significant step up from being recognised as the fastest-growing Forex broker in the world.

The cash back bonus does not rely on collecting points, but it pays cash which many traders enjoy. Different trading contests and friend referrals are also available with the broker. With recognition from the FCA and CySEC, excellent training material, and 24/7 customer support, FXTM is a great broker for all traders.

Standard Accounts, Shares Accounts, ECN Accounts, and ECN Zero Accounts have a minimum deposit of $/€/£ 100 or ₦20,000. Processing times range from instant to 24 hours/up to a business day for most methods. The exception to this is a bank wire which takes three to five business days. You can view the specific floating commission rates under Trading Accounts on the Commissions page.

With the exception of the ECN Account, traders at FXTM enjoy commission free trades with very competitive spreads. FXTM gives its potential clients the chance of opening a free demonstration account so that investors can try out the trading platforms and all of the broker’s features before they commit any of their own money. As expected from most binary options brokers, FXTM has recognised the need for clients to check their assets and to carry out their trades while they are on the go. The ForexTime mobile application makes it even easier to trade from a mobile device.

Best Regulated Forex Brokers

FXTM Trader is the company’s customised app that enables traders to access the markets on-the-go. It sports features like live currency rates, state-of-the-art charting tools and more. FXTM Trader is available to download for free on both iOS and Android devices. FXTM offers the leading trading platforms available in the industry, MetaTrader 4 and MetaTrader 5 on PC, Mac, mobile or tablet. Traders with multiple accounts can also make use of the Multi Account Manager on MT4.

This is the branch of FXTM that contains the South African local regulation , alongside their CySEC licence, and an additional UK FCA registration . In Europe, FXTM operate under both ForexTime limited (registered eur in Cyprus and operating with CySEC regulation number 185/12) and ForexTime UK Ltd . Depending on your country or domicile in Europe you will have different options of the above two companies available to you.

FXTM entered the industry in 2011 and has since gained licenses from four top-tier authorities. The broker stands out with an average client approval time of less than 12 minutes, 84% of funds processed within five minutes, and a high customer approval rating. FXTM has also earned numerous awards over the years, named Best Investment Broker from FX Daily Info to Best Trading Experience from the World Finance Awards, both in 2019. A strategy manager can have more than one trading strategy, but they only have access to forex trading pairs, metals, and Index CFDs, and not company shares or cryptocurrencies. For some, this may be a good thing, as cryptocurrencies now are very volatile. Once this is done, you can upload the minimum deposit funds through any of their available methods, which, for your convenience, are listed below in our FXTM broker review.

There are numerous high-quality upgrades for a price that can transform the core MT4 version into a cutting-edge solution. FXTM imposes a dormant account / account inactivity fee of $5 per month but an account must have initiated no trading activity for a period of at least six months before this fee will be imposed. FXTM also charges additional withdrawal fees against withdrawals made by credit cards or bank wire transfer. The exact charge depends upon the country of residence of the client making the withdrawal but is typically approximately $2 for a withdrawal by credit card and approximately €20 for a wire transfer. These fees are justifiable, but many retail Forex / CFD brokerages do not charge them, so it is not a competitive practice.

Fxtm Not Quite Right?

FXTM has a cent account, so I was able to test the trading conditions in the real market with only small risks. Currently, I have only been on the system for about 10 days, so I will not draw any conclusions just yet.

Opening an investment account can be done with a few clicks through your myFXTM account. Next, you need to select strategy managers based on several criteria like all time profit, monthly profit, age , and by a number of investors that follow the manager. Usually, the age should be one of your main selection criteria as it means the manager has been around for a long time without blowing up the account. One of the reasons why FXTM is so popular is their social trading platform, also known as FXTM Invest. The platform works well, and the execution of orders is instant.

Broker Quality:

FXTM also offer mobile apps, for Android and iOS making it easier to keep an eye on and execute your trades while you’re on the move. You can trade a wide variety of instruments with FXTM over 350 instruments infact. If a market order is not fulfilled by your brokerage usually no commission is charged. It is only difficult for people who have not done the research. In this article, you will learn important information regarding FXTM that will help you get off to a good start in the world of online trading. The content in this FXTM review does not apply to US users. Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Of course, it also includes expert forex and commodity technical analysis. To supplement these performance statistics, ForexTime lets traders connect with a Strategy Manager to copy their trades via FXTM Invest. To assist with the decision, ForexTime displays the live rankings for top performers, with all the data verified by PwC.

All traders’ questions are promptly answered by the FXTM support team. ForexTime is a progressive broker that actively uses innovative technologies to fxtm forex broker review provide optimal trading conditions for experienced traders. It provides an opportunity to make a profit through active trading or investment programs.

Wider spreads may confuse or surprise a lot of first-time traders, so that’s the most important experience you should bring to the table. Advantage Plus comes with zero commission, which may appeal to a lot of traders. While the spreads are great, this account does come with commission which ranges from $0.40 to $2 per $100K notional value. The commission rate is based on a floating structure, meaning that the more your equity and trading volume rise, the less commission you pay. Click here for a more thorough breakdown of our commission structure for this account. The ultra-tight spreads is number one, it’s really hard to find that kind of pricing with other brokers who are as established as FXTM. Then there’s the market execution for orders, meaning you enter your trades at market price and within milliseconds.

Stop Hunting Service Use: Livelength Of Use: 6

What FXTM are able to offer, what countries FXTM are available in. The most visible drawback of the MT4 trading platform is its user-interface. The third-party upgrades change that and add invaluable functionalities to it. Since the FXTM MT4 already comes with more than half a dozen upgrades, Currencies forex traders remain ahead of most brokers who only offer the core version but market it as a leading trading platform. The FXTM MT4 is available as a desktop client, a webtrader, and a mobile version. An often overlooked feature is the copy trading function embedded in the trading platform.

• Therefore, FXTM grants them to international traders from its Mauritius entity.
• Most recently, in 2018, the company was named the ‘Best FX Broker in Asia’ by World Finance as well as a broker with ‘The Best Conditions’.
• It basically means that you won’t open a position at the exact price you originally requested, which is why some traders prefer market execution, where orders are executed in milliseconds at the best market price.
• There is a maximum of 100 pending orders and 300 orders with this account type.
• In MyFXTM, you can also use some more technical research tools.
• 13 On Cent server 1 Lot size is 0.01 Standard Lots or 1,000 units.

Huge range of trading instruments are also available and I like that. No complaints so far, their trading platform is very easy to navigate, yet packed with very powerful tools.

Forexmart Account Types

FXTM caters primarily to new retail traders and has many traders from emerging economies. It is the only international broker offering trading accounts in the Nigerian Naira. Given its diverse client base, often from low-income countries, a somewhat complex account structure with differential minimum deposits is in place. FXTM offers a refer-a-friend bonus to assist with its marketing trading strategy efforts, available until the end of 2020. Existing clients will receive a unique referral link, which they will use to attract new clients to FXTM. A minimum deposit, as outlined under Compare Account and FXTM Invest, where applicable, is mandatory. After the referred trader executes 10 standard lots, both accounts, the referrer, and the referee will receive a $50 bonus.

There has been a trend in Social Trading in the last few years, where clients prefer to follow other traders with proven profitability rather than trade themselves. Except for the ECN account, both the ECN Zero Account and FXTM Pro Account offers commission free trading. Last but not least, FXTM offers Social Trading in the form of ‘Strategy Trading’. Hence, I would totally recommend this broker to anyone out there whom would like to invest in PAMM accounts as they have tons of experienced and versatile managers to arrange your funds. Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same. John Davis is a Financial and Economic Analyst working with the Traders Union since 2016. During this time, he has written more than 100 analytical articles on technical and fundamental analysis, reviews of financial companies and has developed more than 10 proprietary trading systems.