FXTM Review South Africa 2024 Spread, platform & bonus compared!

With this feature, traders can hold a substantial position in the market while investing only a small amount of their own money. Essentially functioning as an investment multiplier, it significantly expands exposure for invested funds. When an account remains inactive for a specific duration, it is subject to inactivity fees.

Are there risks associated with high-leverage trading at FXTM?

Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Currency Conversion Fees

  1. FXTM offer 63 forex currency pairs you can trade and include all the major pairs with a solid selection of minor and emerging market pairs for more experienced traders.
  2. I want to point out that only verified trading accounts may request a withdrawal and that FXTM enforces a withdrawal hierarchy.
  3. We learned that the broker also provides tight spreads from 0.1 pips, and low deposit requirements, besides education is one of the best provided.
  4. The maximum volume per trade is 1 lot whereas there is again no commission charged but the spreads are floating from 1.5 pips.

When it comes to trading signals, Autochartist and Trading Central would be my preferred tools. Unfortunately this broker doesn’t have them but GO Markets do provide both free of charge. Daily Market Analysis is FXTM’s very own news portal that offers detailed market analysis and insights to keep you in the loop with the latest market happenings. They analyse price movements based and technical and fundamental analysis across a range of global markets. The Market Analysis team are regularly quoted in major international publications, including BBC, CNN, CNBC, Bloomberg, The Wall Street Journal, Financial Times, Reuters and Forbes. I found these to be really insightful and they helped me become aware of some market event that I may have otherwise overlooked.

FXTM Reviews

In some cases, their spreads are even lower than the industry average. This shows that both brokers are striving to offer competitive pricing to their clients. FXCM also grants access to ZuluTrade, one of the biggest social trading software, which allows clients to copy trades in Forex, Shares, Cryptocurrencies and CFDs directly into their FXCM account. For a monthly subscription fee of $30, clients can access strategies from top-performing traders and pay 25% of earnings to a trader they copy in case he/she has generated a positive return. Additionally, FXTM offers iOS and Android mobile apps for MetaTrader 5, along with the FXTM Trader mobile app. The latter represents FXTM’s proprietary software that features state-of-the-art charting tools, one-click trading and trading across multiple devices.

Before you trade, AskTraders.

Demo accounts can also be invaluable to traders developing and testing a trading strategy. Both FXCM and FXTM offer MetaTrader 4 as one of their trading platforms. FXCM’s MT4 platform is known for its advanced features and user-friendly interface. On the other hand, FXTM’s MT4 platform is praised for its speed and reliability. For traders looking for the best MT4 experience, this list of top MT4 brokers might be helpful. Overall, FXTM offers more CFD instruments, but FXCM covers more asset classes and has unique baskets that give you exposure to specific sectors.

Our review has found that FXCM focuses mostly on forex trading along with other unique trading baskets. At the same time, FXTM doesn’t keep its focus only on the FX niche but offers the ability to trade on numerous shares. Both brokers also offer some stock indices and commodities as well as for cryptocurrencies as CFDs.

Finally, FXTM is well known in the industry for hosting various trading competitions. Winners receive handsome cash prizes for their efforts, sometimes as high as $ 25,000 – $ 100,000. You can reach them via telephone, live chat, social channels, and via various mobile apps including WhatsApp, and Viber.

These products may not be suitable for everyone, and it is crucial that you fully comprehend the risks involved. Prior to making any decisions, carefully assess your financial situation and determine whether you can afford the potential risk of losing your money. Overall, the FXTM research offering is probably above the industry standard, though we would https://forexhero.info/ like to see more regular videos and written content, maybe with a dedicated focus on technical analysis. Educational articles – There are numerous written educational articles on Forex and CFD trading and technical analysis, from the basics up to intermediate-level concepts. On the platform in the My FXTM area there are some useful trading tools.

If you are a beginner and looking for as much education as possible, CM Trading might be worth taking a look at. In addition to forex, CFDs, commodity, indices and spot metals trading, FXTM offers different account types to fit just about any kind of trader. I like the trading environment at Forextime, as the trading costs in the commission-based trading account remain among the best industry-wide. It has also established itself as a market leader for traders from emerging and frontier markets. I also like the upgraded MT4/MT5 trading platforms and overall transparency at FXTM, which I confidently rank among the very best Forex brokers. FXTM also boasts impressive educational facilities for beginning traders, and it supports the MetaTrader platforms that offer many useful features for advanced traders.

FXTM offers clients the opportunity to trade over 250 financial instruments, all from MT4/MT5. Many traders use Cent Accounts alongside a Standard Account to test new fxtm forex broker review EAs under live trading conditions. FXTM encourages traders to download both the MT4 and MT5 platforms, then use them in parallel before making their final decision.