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9 05: Markets Await Bank of England

On the downside, we should point out that FXTM charges a small withdrawal fee. FXTM’s ECN account ensures the best possible pricing for clients, which is derived directly from a pool of top-tier liquidity providers. The ECN account can be opened with a minimum deposit of $500 and grants access to 48 currency pairs, 3 Spot Metals and 14 Spot CFDs traded on ForexTime’s MetaTrader 4 platform. Meanwhile, FXCM fxtm forex broker review clients can take advantage of the broker’s proprietary CFD and Forex trading platform, Trading Station, available for Windows, Mac OSX, iOS and Android. It offers powerful analytical tools, advanced features and charting as well as good interface customisability options. Both brokers have provided clients with a good choice of trading platforms – from MetaTrader 4 to proprietary software solutions.

Before you trade, AskTraders.

  1. FXTM’s Indices markets have some of the lowest spreads, making them a popular choice.
  2. FXTM is an Islamic friendly broker with swap free accounts also offered.
  3. They give access to not just trading forex but also other financial instruments like stocks.
  4. ForexTime, also known as FXTM, is a financial service and automated currency broker.

The FXTM Android App has over 1 million downloads, with average user rating of 3.9 stars, which is lower than Exness, HFM & other brokers. They are highly regulated globally by top-tier Financial regulators in UK, Cyprus. Also, in South Africa, they are licenced by the local regulatory authority i.e. Whether you’re an Android or an iOS fan, you can keep on top of every trade by downloading the MT4 and MT5 apps straight onto your phone. Due to a migration of services, access to your personal client area is temporarily disabled.

Tie: Superior Customer Service

They do not disanointing this regard, with over 30 different types of payment methods available. There is also a FXTM app which provides a variety of different tools and functions that helps a trader to make key decisions when reacting to different pieces of news. FXTM was launched back in 2011 in Cyprus and they had the goal of providing top quality education, great trading conditions and modern trading tools. Forex (or FX) means Foreign Exchange, the place where currencies are traded. To learn more, check out our complete guide to forex trading for beginners.

Mobile Offering

However, we were a little disappointed that they do not offer their own trading platform and you are confined to using MT4, plus trading spreads are not particularly competitive. But the education offering is very strong, whilst the research offered is above industry standard. For example, if you trade crypto, then you should find out more about the FXTM Bitcoin spreads and commissions before deciding whether it suits you. The broker offers competitive spreads and multiple account types to help cater to the needs of a variety of traders. All of the trading platforms that are offered by FXTM are tried and tested over the years, being proven to operate at a high level at all times. The offering is the industry standard MetaTrader 4 and MetaTrader 5 platforms which most experienced traders will have some experience using.

What is Forex trading?

These accounts offer a viable solution for people who want to make money in the forex market but do not want to trade the market themselves. Cyprus-based ForexTime Limited, commonly referred to as FXTM, is one of the world’s most popular forex and contracts for difference (CFD) brokers. Since 2011, FXTM has provided traders with a wide range of trading instruments and educational resources, https://forexhero.info/ as well as fund protection, free demo accounts and account managers. The FXTM standard account offers a wide range of features and benefits to all levels of traders. The minimum deposit requirement is $100 with a 30-lot maximum volume per trade. There is no commission charged on this account although the floating spreads start from 1.3 pips as they are marked up to cover costs.

However, Standard and Cent accounts are not designed for scalping since instant execution account types may not be best to carry out this kind of strategy. On the other hand, the ECN and ECN Zero Accounts with the market execution modes are more apt for scalping. Currency values can be affected by a number of factors that impact the strength of a nation’s economy, including inflation, interest rates and political stability to name a few. Typically, forex traders see the greatest volatility before and after key economic or political events as they speculate how this could affect the markets. FXTM allows you to trade the most popular major, minor and exotic forex currency pairs, on MT4 and MT5.

This means that they have a massive customer support team that is ready to answer your questions, in whatever language you ask them in. Their client focus ensures that they are there to make your trading experience as seamless as possible. Whether you trade spot metals, energy, or soft commodities, FXTM has a CFD market for you. Whether it’s the main part of your trading strategy or simply used for diversification, take advantage of the volatility in commodities markets with FXTM. ECN Zero AccountAn FXTM ECN Zero Account has all the features of the ECN account above but without the commission charges. To compensate for no commissions, you’ll notice that your spreads are slightly wider, but still under the level of Standard Accounts.

However, institutional-level spreads can be accessed only if traders’ account balance is maintained above the minimum deposit level all the time. Apart from these assets, FXTM has multiple trading platforms, which include MT4 and MT5. These platforms are known to offer traders the opportunity to trade in real time and, at the same time, monitor market movements. With the FXTM app, available on both Android and iOS devices, you can monitor live rates and adjust your positions wherever you are. The inclusion of demo accounts and a flexible leverage system makes this a good trading platform for beginners and experienced forex traders alike. For more experienced traders, an FXTM Pro account is also available on the ECN side with a minimum deposit of $25,000 with no commission and spreads as tight as 0 pips.

FXTM takes regulation and transparency very seriously with internationally-recognised licences held by the brand. Regulations are in place to ensure that the broker operates with the upmost fairness and integrity whilst they must comply to strict regulatory rules. Strict regulation in multiple jurisdictions can help to give clients peace of mind that they are using a trusted and transparent broker.

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