FXTM Review

FXTM Products

There are hundreds of different instruments that you are able to trade through your FXTM account. This covers all sorts of forex currency pairs, precious metals, indices, shares, commodities, cryptocurrencies, and CFDs. You will get access to more than 50 currency pairs, as well as many major cryptocurrencies. While the selection is not as vast as other brokers, FXTM offers all of the most popular options.

FXTM Trading Conditions

One of the areas that FXTM specializes in is offering extensive leverage to its base of users. The amount of leverage available does depend on your account type, as well as the instruments that you are looking to trade. Leverage at FXTM can go as high as 1:100 when you satisfy certain conditions. However, European and UK residents are subject to stricter leverage limits, usually going no higher than 1:30 leverage.

FXTM Account Types

There are three main types of FXTM trading accounts for you to choose from. These cater to a different range of people. The Micro account is ideal for beginner traders, having a minimum required deposit of just $50 and offer instant execution. It only caters to MetaTrader 4 and you don’t have the most extensive ranges of instruments to trade.

The Advantage account is the most popular option on FXTM, allowing for market execution and a minimum deposit of $500. It offers you the choice between MetaTrader 4 and MetaTrader 5. Finally, Advantage Plus is a no-commission account that also has a $500 minimum deposit and offers both types of MetaTrader platforms. You also have the option to start a demo account if you want to test out your trading with virtual funds.

FXTM Commissions & Fees

The three different account types have their own distinct fee structures. For the Micro account, there is no commission charged and tight spreads. For the Advantage account holders, the commission per trade will range between £0.40 and £2, with there being ultra-tight spreads. Finally, for Advantage Plus accounts, there will be no commission charged and tight spreads. The average spread for EUR/USD is 1.5 pips, which compares well with the industry average.

FXTM Platforms and Tools

For FXTM traders, you are able to choose between the industry standard MetaTrader 4 and MetaTrader 5 platforms. These both have won many awards over the years for their performance features. They are accessible on all popular devices.

You also have the ability to engage in automated trading through FXTM. This allows you to put a strategy in place and have it carried out for you in a passive manner. There is also a social trading side of the offering that allows you to follow the trades of ranked strategy managers.

Is FXTM Mobile Friendly?

Yes, you can access FXTM through your mobile device, no matter if you are using an iOS or Android mobile phone. This can be done by downloading the respective FXTM app. This app has been optimized to work seamlessly on mobile and will still have a great selection of features and options. You can customize the design depending on your needs and you can enact alerts.

FXTM Promotions

FXTM was not running any active promotions at the time of writing this review.

FXTM Deposits & Withdrawals

FXTM offers many different ways for people to fund their accounts. To make a deposit, you are able to use popular credit card and debit card providers like Maestro, MasterCard, and Visa. Popular e-wallets like Skrill, Neteller, and dotpay are options, while you will also usually have wire transfer as a choice.

The bank transfer will take 3-5 business days to process, while the other deposit options see your funds reach your account in two hours. There are no fees associated with deposits and the supported currencies can vary depending on what option you choose.

To make a withdrawal for your FXTM account, you can use Visa, MasterCard, Maestro, Skrill, Neteller, and a bank transfer. There is a £2 fee for withdrawing through a card, no fee for e-wallet payouts, and a £25 fee for a bank transfer. Bank transfers take about 24 hours to process withdrawals, while the other options will usually process in the same business day.

FXTM Customer Support

FXTM has a useful help section that provides you with a lot of information regarding a range of topics. This can offer solutions to many problems that you might be running into. If you wish to speak directly with the FXTM customer support team, you are able to ring them by phone between 8am and 6pm from Monday to Friday. You are also able to use the live chat, as well as send the team an email. Finally, FXTM is active on numerous popular social media channels.

FXTM Research and Education

FXTM has a decent education offering, with many educational events being held on a regular basis across the world, both virtually and in person. You also have tons of different educational resources available online. These range from webinars, to trading platform tutorials, seminars, trading tools, news reports, calculators, calendars, market analysis, and outlooks.

The overall research section at FXTM ticks all of the boxes, as you have many different resources at your disposal. You can access trading tools that have been based on technical analysis and there is a solid range of charting tools.

Noteworthy Points to mention for FXTM

The ease of use of the FXTM platform is a clear standout, as is the competitive cost structure and fast withdrawals. One area to note is that it does not have the largest collection of financial trading instruments.

Conclusion for FXTM

FXTM is a well-regulated online broker that inspires confidence into traders of all experience levels. The platform couldn’t be easier to use on both mobile and desktop devices. There are plenty of great resources and customer support available to you.

While the range of trading instruments isn’t as vast as some competitors, there is a competitive fee structure and ultra-fast execution available. This is an ideal offering for those people who are looking to trade the main financial instruments in a cost-effective and easy manner.