As the name suggests, your account balance is always displayed in cents. Standard AccountThe FXTM Standard Account is a no-frills option for new traders who want to start trading forex without worrying about extra commissions or fees. The account is not ‘standard’ as such, with the name coming from the fact that traders can trade standard lots.

Brokers for Beginners

Forextime offers excellent spreads in its commission-based account, making it one of the cheapest Forex brokers in the entire retail Forex industry worldwide. According to our research, its commitment to providing a secure trading environment, comprehensive educational resources, and advanced trading platforms make it an attractive choice for novice and seasoned traders. FXTM offers dynamic and competitive spreads that cater to various trading styles. Traders can choose from different account types, each with distinct spread structures. Beginning traders in the trading industry can benefit immensely from the FXTM Micro account.

Cryptocurrency payments: A practical guide

FXTM is regulated by various global financial bodies across all countries of operation. Authorities overseeing the group include the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Sector Conduct Authority (FSCA) of South Africa. Our experts are confident that the broker offers adequate protection regardless of your country of residency. When trading at FXTM, traders should be assured of the suite of IT security measures and customer protections. The website uses encryption software to ensure users’ privacy and security. FXTM traders are well-protected against theft of funds or data, though always be cautious when it comes to sharing personal information on the internet.

Is FXTM Regulated?

FXTM have established themselves as a very well-trusted, and compliant broker across the globe. This is thanks in part to their regulatory oversight which comes from many of the most respected bodies in the industry. Currently, the broker is regulated by multiple top-tier regulators including CySEC in the EU, the FCA in the UK, FSCA in South Africa, and the FSC in British Virgin Islands. This provides them an excellent mix of regulatory environments and a degree of flexibility depending on the entity you are trading under. This trusted regulation, a competitive range of trading costs, and the availability of more than 250 assets to trade, continue to make FXTM a popular choice for all.

EURJPY: Bulls breach falling wedge pattern

FXTM caters to most international traders, including the UK, India, Malaysia, and the Philippines. They include bank wires and a broad range of domestic banking solutions for countries, which I find excellent. Traders may also use Skrill, GlobePay, Pay Redeem, Perfect Money, Neteller, FasaPay, and M-Pesa. To protect clients and mitigate potential fxtm review losses, FXTM implements margin restrictions requiring sufficient assets in their accounts. This fee will persistently be deducted from the balance until trading resumes or if there are zero remaining funds left in the account. The cost of commissions is based on a tiered system that considers trading volume, ranging between $0.40 to $2 per trade.

Therefore, traders should consider FXTM among the most-trusted brokers industry-wide. As a regulated broker, account verification at Forextime is a mandatory final step. Most traders will satisfy this by sending a copy of their ID and one proof of residency document.

1. Additionally, FXTM is one of the few brokers with weekend support, which is helpful for beginner or part-time traders.
2. To protect clients and mitigate potential losses, FXTM implements margin restrictions requiring sufficient assets in their accounts.
3. Just direct access to deep pools of liquidity with absolutely minimal interference from FXTM.

Whether you’re the type of trader that learns through visual or text-based mediums, FXTM has an option that caters to you. New traders or those simply looking to learn new methodologies are well catered for, with a multitude of tutorials and articles throughout the website. Experienced traders, on the other hand, have access to some of the brightest economic minds in the game. FXTM’s Pivot Points Strategy uses three popular technical indicators combined with your own choice of five pivot point calculations to assist with your trading and help determine the market sentiment. I think pivot points are brilliant for identifying key price levels and I have often used them in the past for entry/exit signals and money management.

Most brokers only provide the out-of-the-box version, which does not provide all the necessary functionality. These tools include the Orders Indicator, the Pip Value Calculator, the Pivots SR Levels, the Spread Indicator, the Market Data to CSV, and the Day Bar Info Indicator. FXTM also offers its FXTM Pivot Points strategy, available as an expert advisor (EA) running on the MT4 trading platform (see the Trading Tools section for more).

Alongside the protection of top regulators, FXTM also provides negative balance protection which means you can never lose more than you deposit. FXTM has a world-class education section available for free in 22 languages and a comprehensive https://forexhero.info/ market research and analysis unit. Additionally, FXTM is one of the few brokers with weekend support, which is helpful for beginner or part-time traders. FXTM’s mobile trading platforms are average compared to other Forex brokers.

FXTM is on the side of our customers and we’re here to help clarify or resolve any issues our customers face.You can directly raise a complaint by clicking “Raise a Request” on our website and sharing your details. We use dedicated people and clever technology to safeguard our platform. Labeled Verified, they’re about genuine experiences.Learn more about other kinds of reviews. Above all, our experts assess whether a broker is trustworthy, taking into account their regulatory credentials, account safeguards, and reputation in the industry. For example, the forex market in London is active from 3 AM to 12 noon; in New York it’s 9 AM to 5 PM; in Sydney it’s 5 PM to 2 AM, and the Tokyo market is open from 7 PM to 4 AM (all times GMT).

Compare the markets and instruments offered by FXTM and its competitors. Please note, some markets may only be available via CFDs or other derivatives. Compare FXTM with the top 3 similar brokers that accept traders from your location.

FXTM offers a similar number of trading accounts compared to most other brokers, which are suitable for beginners and more experienced traders. FXTM offers three live account types, and trading costs vary depending on the account type chosen by a trader (for more detail on FXTM’s account types, click here). Filipino clients will be trading under the subsidiary, Exinity Limited, regulated by the FSC Mauritius, which allows brokers to offer their clients higher leverage. Unlike top-tier regulators such as the FCA and ASIC, the FSC does not mandate that companies segregate client funds, provide negative balance protection or participate in investor schemes. Note that negative balance protection is available on a discretionary basis, and requests are evaluated case by case. FXTM excels in its education and market analysis sections, with a good overview of Forex trading in its guides and tutorials.

Yes, some instructional resources are freely available to the public. Yes, FXTM is regulated by various international authorities, including CySEC and the FCA, to ensure compliance with the highest regulatory requirements. Yes, FXTM employs SSL (Secure Socket Layer) encryption to secure online transactions and safeguard sensitive data from unwanted access. Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community.

Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect. The market analysis section at FXTM is comprehensive, frequently updated, and very useful for traders of all experience levels. At FXTM, we are dedicated to making your trading journey as seamless as possible, starting from the moment you fund your account to the point where you withdraw your earnings. Our streamlined processes, commitment to security, and personalized customer support are designed to give you peace of mind and more time to focus on what matters most – your trading success. At FXTM, we understand that superior trade execution is pivotal to your trading success.