For traders who employ automated trading strategies, especially on MT4, FXTM offers a Virtual Private Server (VPS) service for continuous, high-speed connections. TradingView is increasingly popular among traders for its extensive charting capabilities and a wide range of technical indicators, allowing users to perform in-depth market analysis. We built the website to assist forex traders in finding the right forex brokers to trade with ease. After carefully examining the reviews, we found that most of them are genuine, provided by real users sharing their real-life trading experiences.

In turn, swap short relates to the charges/credits deductible or receivable for holding a selling position open overnight. Algo traders can automate their systems on MetaTrader using Expert Advisors (EAs), with a built-in strategy tester available to fine-tune strategy parameters. The main drawback of FXTM, however, is the lack of Virtual Private Server (VPS) hosting for low-latency trading. You should consider whether you can afford to take the high risk of losing your money.

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Compared to the brokers listed below, FXTM’s commissions are in line with those offered by its competitors, which are generally competitive. As you review FXTM platforms, you will find familiar options such as MetaTrader 4 and MetaTrader 5. Both these platforms are available on a range of devices, ensuring that you can easily trade when and where you want. Additionally, FXTM has a proprietary mobile application, named FTXM Trader, which is relatively new and accessible for all account types. All trading platforms offered come with a range of indicators and drawing tools too.

Testing FXTM’s Customer Support

If you want to stick to MT4 and the massive back-library of custom indicators and EAs that have been developed for it, then you won’t have to worry about being forced to change by FXTM. There is an inactivity fee, however, which is $5 per month after 6 months. Muslim traders have the option to choose a swap-free account in order to comply with Islamic principles. A swap-free account removes any interest-related charges, in accordance with Sharia law, which prohibits usury. ECN Zero Account An FXTM ECN Zero Account has all the features of the ECN account above but without the commission charges.

Standard Account Fees

However, the FXTM brand does not provide services to residents of the USA, Quebec, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto fxtm broker reviews Rico, Brazil,Cyprus, and Hong Kong. However, response times may vary depending on the time of day, and some users in certain regions have noted occasional delays in reaching support. However, the payments we receive can influence the products, companies, or services we highlight and evaluate. FXTM is legal, complies with four regulators, and has a clean track record. FXTM established itself among the most trusted Forex brokers industry-wide. FXTM is a legit company, operating with four regulatory licenses and acquiring a fifth.

The Pivot Point Indicator is an exceptionally versatile tool that’s a great companion to the FXTM Pivot Points Strategy. FXTM could improve transparency by publishing more detailed reports on its financial health and operational practices, including annual audits and compliance checks. The broker charges a fee of $10 monthly after three consecutive months of no activity. Traders also incur a $3 fee when withdrawing sums below $30 from their balance, with higher amounts being processed at no extra cost.

FXTM Tools and Resources

This allows you to take advantage of advanced trading strategies with minimal technical skills and time. Our experts have created these tables based on the fees applied to a standard account. We consider a standard account to be the one that will appeal to most traders, often not the cheapest option but not a premium option either. When it comes to withdrawal, FXTM forex brokers offer numerous methods, but it depends on your country or location. But commonly, you can withdraw FXTM funds through Visa, Master Card, FasaPay, GPay, Skrill, Neteller, WebMoney, and Bank Transfer. In addition to that, there are hundreds of other local methods you can use.

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Deposits and withdrawals are generally fee-free, except for transactions under $30, where a $3 processing fee applies. FXTM offers more commodities, share CFDs, indices, and cryptocurrencies than the industry average, while its selection of currency pairs sits around the benchmark. The charts, orders, and various instruments are located in easy-to-find places, and even first-time traders can quickly learn their way around. My only gripe with the platform is that its charts feel rugged and outdated compared to newer and sleeker trading stations. FXTM does not impose a handling fee on deposits and withdrawals, though third-party processing fees may apply.

There’s a rollover interest (swap) charged or received for holding positions overnight. FXTM’s institutional partners calculate the daily swap rates using risk-management analysis. So, each forex currency pair has its forex swap charge, and interest is paid on currency sold and received on currency bought. In general, both mobile apps perform smoothly, providing quick trade execution and stable performance.

• FXTM broker offers their brokerage service to both institutional and retail forex traders by offering a wide range of tradable assets.
• Standard accounts are typically commission-free but have wider spreads, while ECN accounts may charge a commission per trade but offer tighter pricing.
• Trading financial products carries a high risk to your capital, particularly when engaging in leveraged transactions such as CFDs.
• FXTM is a good broker well-known and regulated worldwide, there are a few regulated entities of FXTM.

Advantage Plus Account

• This includes the top-tier FCA (Financial Conduct Authority) in the United Kingdom, making it a safe broker for Forex and CFD trading.
• Withdrawals are typically processed in amounts starting from $5, providing flexibility for traders of all sizes.
• The tradable instruments can be accessed through several advanced platforms, including the proprietary FXTM Trader App as well as MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
• FXTM operates under the Exinity Group and complies with reputable global regulators.

The account is not ‘standard’ as such, with the name coming from the fact that traders can trade standard lots. BrokerChooser rated FXTM 3.9/5, highlighting low forex fees, fast digital account opening, and responsive customer service. However, it noted cons such as withdrawal fees, inactivity fees, and limited educational tools. Yes, FXTM’s Advantage Plus account provides commission-free trading on stocks and ETFs. Traders can access hundreds of instruments on MetaTrader 4 or MetaTrader 5, benefiting from no commission fees despite slightly wider spreads. The FXTM research offering is solid, producing 2-3 daily written articles on current market analysis.

Additionally, FXTM offers swap-free accounts for eligible clients, particularly in regions where interest is not permitted due to religious beliefs. FXTM maintains 60 currency pairs, 14 commodities, 21 index CFDs, 802 equity CFDs, and 639 US-listed stocks. The choice of commodities and index CFDs is limited, but the overall selection of trading instruments is competitive. I also like that Forextime offers 639 stocks for direct investments, albeit only US-listed ones. Overall, the tradable assets at FXTM will best suit Forex and US equity traders.

Opening an account at FXTM is fast, and the first step requires only a few seconds. Traders must submit their name, country, a valid mobile phone number, e-mail address, and desired password. FXTM will send a confirmation PIN to the entered mobile number to complete the process. We were able to complete this within 24 hours which was speedy and satisfactory. Please note that equity markets open and close each trading and are not operational continuously like Forex and cryptocurrencies.

The agency also regulates the activities of investment firms, brokerages, and fund management companies. To improve, FXTM could consider expanding its customer service to full 24/7 coverage, making it more competitive and accessible to clients across different time zones. FXTM provides beneficial basics and intermediate resources, but adding advanced-level courses would appeal to experienced traders looking for deeper insights. BestBrokers.com is free to use for everyone and it may earn a commission from some of the listed trading platforms with no additional cost to you.