Introduction

FXTM, short for ForexTime, is a globally recognized online forex and CFD broker established in 2011. It has built a reputation for offering a diverse range of trading instruments, various account types tailored to different trader needs, and robust trading platforms. FXTM is committed to providing a secure and transparent trading environment, backed by multiple international regulations, making it a popular choice for both novice and experienced traders worldwide.

Key Features

• Strong Regulatory Framework: FXTM operates under strict regulation by top-tier authorities including the Financial Conduct Authority (FCA) in the UK, Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority (FSCA) of South Africa, and the Financial Services Commission (FSC) of Mauritius.
• Diverse Account Types: Offers a wide array of accounts such as Standard, Cent, ECN, ECN Zero, and Pro accounts, each designed to cater to different trading styles, experience levels, and capital sizes. These accounts provide varying spreads, commission structures, and execution models.
• Industry-Standard Trading Platforms: Provides access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5), available across desktop, web, and mobile devices, renowned for their advanced charting tools, analytical features, and automated trading capabilities.
• Wide Range of Instruments: Traders can access over 250 financial instruments, including major, minor, and exotic forex pairs, CFDs on commodities (gold, silver, oil), indices, shares (stocks), and a selection of cryptocurrencies.
• FXTM Invest (Copy Trading): A dedicated program allowing less experienced traders to automatically copy the trades of successful strategy managers, or for experienced traders to earn by managing others’ funds.
• Comprehensive Educational Resources: Offers extensive educational materials including webinars, seminars, e-books, articles, video tutorials, and daily market analysis, catering to traders of all skill levels.
• Multiple Deposit and Withdrawal Options: Supports various payment methods including credit/debit cards, bank wire transfers, and popular e-wallets like Skrill, Neteller, and Perfect Money.

Pros

• High level of regulation from multiple reputable authorities provides a secure trading environment.
• Extremely competitive spreads, especially on ECN and ECN Zero accounts.
• Availability of both MT4 and MT5 platforms, offering flexibility and advanced tools.
• Excellent educational content and market analysis support traders’ learning and decision-making.
• A wide selection of account types to suit various trading preferences and capital.
• Copy trading functionality (FXTM Invest) is beneficial for both beginners and experienced traders.
• Fast and reliable execution speeds.
• Multilingual customer support available 24/5.

Cons

• Commissions can apply on ECN accounts, which might be a consideration for some traders.
• Withdrawal fees can apply depending on the chosen method, particularly for bank wire transfers.
• The range of cryptocurrency CFDs is somewhat limited compared to specialized crypto exchanges.
• Stock CFD trading might incur slightly higher commissions compared to other brokers specializing in stocks.
• Not available to clients in certain countries, including the United States.

Pricing

• Spreads: Variable spreads start from 0.0 pips on ECN accounts (plus commission) and from 1.3 pips on Standard accounts. Cent accounts typically have spreads from 1.5 pips.
• Commissions: Applicable on ECN accounts. For example, ECN Zero accounts may have a commission of $4 per lot (round turn) for major forex pairs, which decreases with higher trading volume. Pro accounts generally have zero commission but wider spreads.
• Swap Fees: Overnight holding fees (or credits) apply to positions held open past the market close. These are standard in forex and CFD trading.
• Withdrawal Fees: Vary by method. While many methods like credit cards are free, bank wire transfers typically incur a fee (e.g., $30 USD or equivalent). Specific e-wallets might also have minor fees.
• Inactivity Fee: FXTM may charge an inactivity fee if an account remains dormant for an extended period, though specific terms should be checked on their official website.