FXTM Review 2024

Key Takeaways

• ForexTime (FXTM) is a well-established and stable broker founded in 2011.

• FXTM is regulated by the UK’s Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority of South Africa (FSCA), the Capital Markets Authority of the Republic of Kenya (CMA), and the Financial Services Commission in Mauritius (FSC).

• Over and above this, FXTM has voluntarily enlisted added insurance for client funds.

• FOREX traders can engage with 59 currency pairs, encompassing major, minor, and exotic pairs. 

• FXTM offers Contracts for Difference (CFD) on 17 global indices, including such prominent ones as the S&P 500, NASDAQ 100, and FTSE 100. 

• Stock traders can trade over 500 regular or real shares from U.S. exchanges, featuring such leading companies as Apple, Tesla, and Facebook. 

• FXTM uses the well-known third-party trading platforms MetaTrader4 (MT4) and MetaTrader5 (MT5) to supplement its proprietary mobile MyFXTM app.

• FXTM offers low fees that are some of the most attractive in the industry.

• FXTM offers traders a balanced selection of three primary account types.

• FXTM supplies quality high-uptime customer support in several world languages.

• FXTM offers competitive floating spreads and commissions across its account types.

• New and experienced traders can access a powerful knowledge base of quality research and educational tools on FXTM’s trading platforms. 

• FXTM’s performance statistics, such as order execution speed, slippage, re-quotes, and the FXTM Strategy Manager Rankings, are independently audited by a Big Four accounting firm.

Overall Summary

FXTM was established in 2011 and was initially constituted and regulated in Cyprus by the CySEC. In addition to offices in Cyprus, the company has had a UK presence since 2018.

With offices in London, FXTM is also licensed and regulated by the FCA in the UK. Further, it is licensed to operate in countries such as South Africa, Kenya, and Mauritius. The company is well-known and considered by many commentators to be a dependable player in the FOREX trading field. This is partly due to its longevity but also thanks to its FCA and CySEC registrations, which are some of the toughest and most rigorous in the world.

The company has more than four million clients in over 150 countries. Its exceptional online trading services and products are suited to institutional and retail clients alike. FXTM observes industry-best practices, such as operating segregated accounts at top-tier banks, secure deposits and withdrawals, competitive leverage, and tight spreads.

Moreover, the company provides traders with market access to over 2,000 instruments across its territories and a variety of optimized account types and platforms. 

Is FXTM Safe?

Yes, FXTM is considered safe. Brokers regulated by the strictest regulators are typically considered safe as they have taken the time and effort to comply with best-in-class regulations. This is the case with FXTM. Our experts at Arincen have compiled a list of its major regulators:

• Financial Conduct Authority (FCA), UK

• Cyprus Securities and Exchange Commission (CySEC), Cyprus

• Financial Sector Conduct Authority of South Africa (FSCA), South Africa

• Capital Markets Authority of the Republic of Kenya (CMA), Kenya

• Financial Services Commission in Mauritius (FSC), Mauritius

As with all FOREX or CFD brokers regulated in member states of the EU, like Cyprus, clients of FXTM are automatically granted negative balance protection. However, it must be noted that the broker does not automatically provide negative balance protection for its UK clients. The “tail risk” of an unusual, extreme market movement, which can be exponentially raised by excessive leverage, is borne entirely and voluntarily by FXTM in other cases.

FXTM maintains full compliance with its regulators. Non-European Economic Area (EEA) customers will deal with Exinity Limited out of Mauritius. The FSC, as the home regulator of this trading entity, does not require deposit insurance, as granted by the CySEC under the Investor Compensation Fund (CIF) up to €20,000, and by the UK’s Financial Services Compensation Scheme (FSCS) up to £85,000. 

Traders will also be happy to know that their funds are privately insured in the event of FXTM’s insolvency. The firm has taken out insurance up to $1 million, over $10,000. The cover pertains to both your available balance and open positions. As always, there are specific exclusions, and we encourage you to visit the broker’s website to see what these are.

The overall trading environment is safe, and traders can trust FXTM with their personal information and deposits. 

How FXTM Protects You from Reckless Leverage and Margin Trading

Leverage and margin are two tools in the trader’s arsenal that, if misused, can lead to heavy losses for the trader. Many irresponsible brokers offer high leverage that can ruin uninformed traders.

How you are protected

FXTM protects traders from the dangers of high leverage. Although requirements vary based on jurisdiction, retail traders still get tailored risk-management options.

European traders can access leverage up to 30:1, while UK clients may trade with up to 30:1 leverage for major pairs under FCA regulations. FXTM will not hesitate to implement margin calls to ensure traders maintain enough equity in their accounts, reducing the risk of forced liquidations and significant losses.

Traders in the African countries can access higher leverage. For example, traders registered with Exinity Capital East Africa Ltd. may enjoy leverage up to 400:1, regardless of instrument or account type. In non-EU and UK territories, FXTM offers floating leverage from 25:1 up to 3000:1 on its Advantage and Advantage Plus Accounts. 

Regulation and other security measures

Keep in mind that leverage is not automatically agreed. FXTM will assign the leverage level based on individual experience, previous trading records, degree of customer loyalty, and various other factors. Leverage is a facility that enables you to get a much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as FOREX trading, magnify your potential profit and increase your potential loss.

Leverage rates vary depending on the trade being considered. For most major FOREX pairs, leverage is set at 30:1. These include trades for major pairs, such as the EUR/USD. This level is imposed by European Securities and Markets Authority (ESMA) regulation and is the same across most regulated brokers. For minor FOREX pairs, leverage is set at 20:1.

Top broker features

• Strong regulation and safety: FXTM is regulated by several top-tier authorities, ensuring traders benefit from such robust protections as segregated client funds and private insurance up to $1 million.

• Diverse instruments: Traders can access 59 FOREX pairs, CFDs on 17 global indices, more than 500 US stocks, and a growing selection of cryptocurrencies.

• Fast and transparent execution: FXTM executes 99.90% of trades in less than a second, with an average execution time of 0.071 seconds.

• Tailored account options: The broker offers three account types—Advantage, Advantage Plus, and Advantage Stocks—catering to beginners, intermediate traders, and stock enthusiasts.

• Low-cost trading: With spreads starting from 0.0 pips on major FOREX pairs and zero commissions on certain account types, FXTM keeps trading costs among the lowest in the industry.

• Comprehensive education and support: FXTM provides high-quality educational resources, trading signals, and multilingual customer support.

For Whom Is FXTM Recommended?

The broker offers an attractive trading environment for novice and more experienced traders. FXTM caters to a diverse range of traders by providing various account types tailored to different experience levels and trading strategies:

Advantage Account: Ideal for beginners, this account provides competitive spreads starting from 0.0 pips and low commissions, making it accessible for those new to trading. 

Advantage Plus Account: Suited for intermediate and experienced traders, this account offers zero commissions with slightly wider spreads, appealing to those who prefer commission-free trading. 

Advantage Stocks Account: Designed for traders focusing solely on stock trading, this account provides access to over 500 U.S. stocks with zero commissions and tight spreads, making it ideal for stock market enthusiasts. 

Additionally, FXTM offers a Demo Account for beginners to practice trading in a risk-free environment, allowing them to familiarize themselves with the platform and develop their trading skills before engaging in live markets. 

Here are some key factors to consider before opening an account with this broker:

Offering of Investments

FXTM is recognized as a broker offering diverse financial instruments to accommodate various trading preferences. Here is an overview of the primary asset classes available through FXTM, along with some regional considerations:

FOREX

FXTM allows you to trade 59 major, minor, and exotic currency pairs, offering spreads as low as 0.0 pips on popular pairs like EUR/USD and USD/JPY through the Advantage account. With 24/5 market access, you can trade any time during the week, making FOREX an excellent choice for all traders, whether starting with a few dollars or tens of thousands. 

FXTM prides itself on giving you “faster trade execution in milliseconds” and helping you secure the best market prices. With lightning-fast execution, FXTM creates massive opportunities in the dynamic FOREX market.

CFD Stocks

With CFD stocks trading with FXTM, you can speculate on the price movements of the world's biggest companies without owning the stocks outright. With access to major brands like Apple, Tesla, Alibaba, Starbucks, and Facebook, you can make the most of market trends by opening both long (buy) and short (sell) positions. 

You get access to great benefits including trading on leverage, which can amplify potential profits but also increase risks. FXTM offers access to a wide range of stock CFDs from leading global exchanges, with dynamic spreads. With CFDs, you can also benefit from falling prices, giving you the flexibility to profit in bear markets.

Indices

With FXTM, CFD trading on spot indices is a convenient and flexible way to diversify your portfolios. You can choose from a varied range of spot indices and access the world, including:

• GDAX (Dax 30)

• AUS200 (Australia 200)

• ND100m (US Tech 100 – Mini)

• UK100 (UK100)

• SP500m (US SPX 500 – Mini)

FXTM’s balanced and trustworthy trading conditions mean you can trade indices with leverage that suits your trading style and strategy. You can speculate on the performance of a group of stocks from specific regions or sectors.

Commodities and metals

With FXTM, you can trade on the following:

Spot Metals

Trade spot gold and silver as you watch political and economic events that influence prices and cause them to fluctuate. By following the news, you can monitor when investors flock to safe havens like gold and silver. You will always have trading opportunities in bullish or bearish markets. You can choose the lot size that suits you best as a trader, giving you full control of your trading activity. 

Oil and Gas Commodities

Trading these commodities allows you to diversify your trading portfolio and participate in a market that is always moving. With FXTM you can trade:

• UK Brent oil (spot)

• US crude oil (spot)

• US natural gas (spot)

As you know by now, leverage allows you to increase your buying power. With FXTM, you can trade CFDs on UK Brent oil with a leverage of 52:1, US crude oil with a leverage of 49:1, and US natural gas with a leverage of 19:1. Remember that leverage with this broker is offered based on your knowledge and experience.

Stocks CFDs

Trading US stocks with FXTM offers a seamless and transparent experience, making it accessible for both new and seasoned investors. FXTM allows fractional share trading, where, for example, you can own as little as 0.3 of an Apple share, which becomes a CFD. This makes high-value stocks accessible to every type of trader, regardless of their trading resources. Trading through MT5, one of the world's most popular platforms, traders can manage a diverse portfolio, whether you prefer to trade single shares or build a comprehensive portfolio.

Crypto CFDs

FXTM did not always offer access to crypto markets, but with its recently developed crypto CFD package, you can now capitalize on the world’s most volatile market. Get access to leading cryptocurrencies like Bitcoin, Ethereum, and Ripple through crypto CFDs, where you can speculate on price movements without owning or having the hassle of storing the actual coins.

Regular stocks

Besides CFD stock trading, the company has expanded its stock offering to more than 500 regular stocks. The change shows the firm’s desire to improve its offerings. With stock trading becoming increasingly popular, FXTM has grown to provide a competitive stock selection through the Advantage Stocks account type.In totality, FXTM’s offering of tradable assets is quite favorable, with a range of asset classes that should satisfy traders looking to trade FOREX, major equity CFDs, and individual leading US equities. Its offering is enough for traders who are not particularly interested in diversification across a wide range of commodities or emerging market equity indices.Traders s

hould know that FXTM does not offer its services to residents of the US, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, New Zealand, and the Occupied Area of Cyprus.

Account Types

With FXTM, you can be sure to find an account that works for you. There will be slight regional differences, depending on where you live, so always consult the broker’s website or speak to customer service to iron out any details you are unsure about.

Advantage account

The Advantage account requires a minimum deposit of $200, €200, £200. ​ You can get market execution at the following levels:

• Spreads starting from 0.0

• Commissions of $3.5 per lot traded on FOREX

• $25 per million notional on Spot Metals

• $35 per million notional on Index CFDs and Commodity CFDs, and 

• 0.05% of the notional value for Cryptocurrency CFDs. ​ 

The account gives you excellent access to assets, including FOREX, metals, commodities, indices, cryptocurrencies, and stock CFDs (only on MT5). ​ It supports multiple currencies (USD, EUR, GBP, NGN) and offers leverage up to 3000:1 outside of the UK and EU, though this is capped at 400:1 for residents of Kenya. ​The margin call level is set at 80%, and the stop-out level is 50%.

The account is swap-free (excluding exotic pairs) and allows for a minimum trade volume of 0.01 lots, with no limit on the number of orders and a maximum volume per order of 100 lots. Additionally, it features 5 decimal quotes for FOREX (3 on JPY pairs) and 2-3 decimal quotes for metals. ​

Advantage Stock MT5

This account requires a minimum deposit of $200, €200, £200, or currency equivalent. Stock traders will love the account. You can get market execution with super tight spreads and zero commissions on trades. ​ This account is specifically designed for trading cash equities, giving you access to more than 600 stocks. ​ The account operates in USD currency only and offers a leverage/margin requirement 1:1, meaning no leverage is applied. 

Unlike other account types, the Advantage Stocks MT5 account does not have a margin call or stop-out level, making it unique in its risk management approach. It does not support swap-free trading and does not provide decimal quotes for FOREX and metals. Additionally, there is no limit on the maximum volume of orders or pending orders, making it highly flexible for active stock traders. ​

Advantage Plus

The Advantage Plus account requires a minimum deposit of $200, €200, £200, or currency equivalent. ​ It offers market execution with spreads starting from 1.5 and charges zero commissions on trades. This account provides access to various trading instruments, including FOREX, metals, commodities, indices, cryptocurrencies, and stock CFDs (though only on MT5). ​ It supports multiple currencies (USD, EUR, GBP, NGN) and offers leverage up to 3000:1 outside of the UK and EU, though this is capped at 400:1 for residents of Kenya. ​ 

Margin call level is set at 80%, and the stop-out level is 50%. ​ The account is swap-free (excluding exotic pairs) and allows for a minimum trade volume of 0.01 lots, with no limit on the number of orders and a maximum volume per order of 100 lots.​

Account opening

Opening an account with FXTM is easy, as it is with most brokers these days. The process is entirely online, user-friendly, and can be completed on a phone, tablet, or computer.

What is the minimum deposit at FXTM?

As mentioned, the minimum deposit across all account types is $200, €200, £200, or local currency equivalent. Be sure to check the broker’s website in your area to know what it is in your local money.

How to open your account

The FXTM review process is fully digital, easy, and fast. An account should be ready within one to two business days. In addition to providing personal and account details, new clients are required to verify their identity and prove their place of residence, as is customary with modern Know Your Customer (KYC) regulations. 

Deposits and Withdrawals

FXTM offers multiple ways to deposit and withdraw funds from your trading account. There are some intricacies you need to get to know.

Account base currencies

FXTM offers you a wide range of account base currencies, including USD, GBP, and EUR, depending on where you live and where your account is based. Selecting a base currency that aligns with your funding source can help minimize currency conversion fees.

In FOREX trading terminology, the “base” currency is always listed first in a FOREX pair, with the “quote” currency listed second. The base currency is always equal to one, while the quote currency represents the current price of the pair.

FXTM Deposit fees and options

It’s important to know that FXTM recently included a sweeping USD3 transaction fee for any deposits or withdrawals less than USD30 or equivalent.

FXTM offers multiple deposit and withdrawal methods, all geared toward inclusive trading. The broker promises to develop as many methods as possible for the comfort of its clients. Deposit fees with credit or debit cards are pegged at $0. There is no deposit fee for wire transfers, but you can expect to deal with the bank’s commissions. E-wallets are generally free of deposit fees.

FXTM withdrawal fees and options

The supported currencies for withdrawals using credit or debit cards are EUR, USD, and GBP. ​ The processing time is usually the same business day, and the payment provider fee is USD3, GBP/EUR2, or local currency equivalent. ​ The supported currency is EUR for bank transfers, with a processing time of 3-5 business days. ​ The payment provider fee for bank transfers is 30 EUR. For e-wallets, the processing time is 30 minutes, and there is no commission fee for withdrawals.

Customer Support

FXTM strives to recognize its clients' individual needs and respond to them in the best way possible. That’s why it tries to provide multilingual client support in over 20 languages, including Arabic, Czech, Chinese, English, Farsi, French, German, Hindi, Indonesian, Italian, Korean, Malaysian, Polish, Russian, Spanish, Urdu, and Vietnamese. During conventional trading hours, customers can contact the highly rated FXTM customer care team by phone, email, or online chat.

Research and Development

The broker works hard to provide good fee options set up differently for each account type.

Spreads

FXTM Accounts offer floating spreads that change as market conditions change. On Contract Specifications, you can find typical spreads for the different instruments and various account types.As far as typical spreads go, you can pay zero spreads on the Advantage account, but commissions would apply. The Advantage Stocks account offers spreads from 6 cents, while the Advantage Plus account offers spreads from 1.5. Both these accounts have zero commissions.

Commissions

As stated, the Advantage Stocks and the Advantage Plus account attract zero commissions. However, the Advantage account charges the following commissions:

• $3.5 per lot traded on FOREX

• $25 per million notional on Spot Metals

• $35 per million notional on Index CFDs and Commodity CFDs

• 0.05% of the notional value for Cryptocurrency CFDs

• $0.02 per side/lot traded on Stock CFDs - minimum commission $0.01

Swap fees and Islamic accounts

The broker does allow swap-free trading, although it does not expressly call them Islamic accounts. However, according to the broker, swap-free accommodation is acceptable according to Islamic finance principles.

Stock CFD fees

Stock CFDs can be traded on MT5 through the Advantage and the Advantage Plus accounts. The former charges zero spreads and $0.02 per side/lot traded on Stock CFDs - a minimum commission of $0.01. The latter account charges spreads from 1.5 with zero commissions.

Inactivity fee

At FXTM, an account is deemed inactive after three consecutive calendar months with no trading activity. In such cases, your trading account will charge a fee of $/€/£ 10 or the local currency equivalent per month. Be aware that the inactivity fee is charged if you have a positive balance. If no funds are in your account, no fee will be deducted, meaning you will not go into a negative balance.

Withdrawal fee

The withdrawal fee depends on the payment method that you use to withdraw.

• E-wallet - free

• Credit or debit card - $3 / €2 / £2

• Bank Wire - $30

As we’ve mentioned, traders should be aware that a withdrawal fee of $/€/£ 3 will apply if the amount you are withdrawing is less than $30.

Other commissions and fees

FXTM charges what is known as a “Market Data fee.” This fee applies to US stocks available on the MT5 Trading platform for USD0.01 per month. Subscribing to Stock Market Data is optional, but once you subscribe, you will be able to see the live pricing for the stock instruments.

Platforms and Tools

FXTM offers a suite of platform tools designed to enhance the trading experience across various financial markets. Here is an overview of these tools:

Platforms types

MT4:

MT4 is a well-known trading platform for its user-friendly interface and robust analytics. It gives you real-time price quotes, interactive charts, and over 30 technical indicators to help you analyze the markets. MT4 supports multiple order types and execution modes, catering to diverse trading strategies. The platform is accessible on PC, Mac, and mobile devices. 

MT5:

MT5 offers advanced features suitable for traders looking for comprehensive tools and access to a broader range of markets. It includes an integrated economic calendar and over 80 technical indicators and supports additional order types. The platform is also available on PC, Mac, and mobile devices. 

Pro Trading Tools:

FXTM's Pro Trading Tools integrate easily with MetaTrader, offering advanced functionalities through partnerships with Trading Central and FX Blue. These tools provide features like dynamic deal tickets for easy order management, a comprehensive suite of technical indicators for in-depth analysis, and market sentiment indicators to gauge market dynamics. 

Additionally, as with new developments, you can find AI-driven trade ideas and premium charting tools available to enhance trading decisions. 

Look and feel

Both MT4 and MT5 platforms prioritize intuitive design and accessibility. MT4 features a clean interface tailored for quick navigation, making it suitable for beginners. Charts are interactive, allowing for seamless analysis and customization.  

MT5 has an enhanced visual experience, offering more advanced charting capabilities and streamlined navigation for professional traders. The platforms are accessible on PC, Mac, and mobile devices, ensuring flexibility for users.

Login and security

FXTM prioritizes user security across all platforms. Secure login protocols, including two-factor authentication (2FA), are available to safeguard user accounts. The platforms employ encryption technology to protect sensitive data during transactions and trading activities.  

Search functions

Efficient search functionality helps traders navigate the vast array of instruments. MT4 features a streamlined search bar where users can quickly locate currency pairs, commodities, indices, and other assets. MT5 enhances search capabilities by integrating advanced filters, allowing traders to sort instruments by categories, volatility levels, or trading volume for more targeted results.

Placing orders

FXTM’s platforms offer versatile options for placing orders. MT4 supports multiple order types, including market, limit, and stop orders and one-click trading for rapid execution. MT5 expands on MT4’s capabilities with such additional order types as Buy Stop Limit and Sell Stop Limit. It also provides depth-of-market (DOM) views, enabling traders to analyze liquidity levels before placing orders.

Alerts and notifications

Keeping traders informed is a key focus. Both platforms allow users to set customizable price alerts and trading notifications. Notifications can be delivered via email, SMS, or push notifications on mobile devices, ensuring traders stay updated on market movements or order execution statuses. MT5 additionally includes calendar-based alerts and integrates economic event reminders to help traders plan ahead.

Mobile Trading

If FXTM clients wish to trade on mobile, they have a choice between two options: 

Platforms

The MT4 App is available in a format suitable for Android and iOS devices. This app gives users access to all MT4 functions, enabling effective trading while on the move. What it does not do is provide users with access to the enhanced functionality and information that the MT5 platform gives. This can be frustrating for traders who wish to use MT5 on the go.

The MyFXTM App – It is also suitable for Android and iOS devices. FXTM’s mobile app is designed to provide an enhanced trading experience, key features include:

• 2,000+ financial instruments.

• The ability to modify, open, and close positions rapidly.

• A trading dashboard.

• Real-time updates.

• Advanced charting tools.

• Single-click trading.

This is a great all-round mobile trading app and a valuable addition to the online platforms.

Look and feel

Both MT4 and MT5 mobile platforms prioritize intuitive design and accessibility. MT4 is great for quick navigation, while MT5 offers more advanced charting capabilities and streamlined navigation for more serious traders. The MyFXTM App is commendably well-described and has responsive features.

Login and security

Secure login protocols, including 2FA, are available to safeguard user accounts. 

Search functions

MT4 and MT5 feature a streamlined search bar where users can quickly locate currency pairs, commodities, indices, and other assets. The MyFXTM App has excellent filters, allowing you to sort instruments by volume, categories, and volatility levels.

Placing orders

FXTM’s platforms offer versatile options for placing orders. MT4 supports multiple order types, including market, limit, and stop orders and one-click trading for rapid execution. MT5 expands on MT4’s capabilities with such additional order types as Buy Stop Limit and Sell Stop Limit. 

Alerts and notifications

All the mobile platforms allow you to set customizable price alerts and trading notifications. Notifications can be delivered via email, SMS, or push notifications on mobile devices, ensuring that you stay updated on market movements or order execution statuses.

Research and Development

FXTM offers several research tools, from news flows to technical analysis-based trading ideas. These tools are available in several locations: on the MetaTrader trading platforms, the “Market Analysis” section on the website, and the “Trading Services” section in MyFXTM.

The “Market Analysis” section provides market updates and various research tools, such as a FOREX News Timeline, as well as market analysis videos and an economic calendar with a filter function for countries, data types, and volatility.

Trading ideas based on technical tools can be found on MyFXTM under “Trading Services” and within the “FXTM Trading Signals” section. The helpful signals tool includes recommended take-profit levels and protective stop-loss recommendations so traders can trade intelligently based on their financial goals.

Trading statistics

FXTM readily displays its trading statistics in the spirit of transparency. In this regard, the broker claims that 99.90% of trades are executed in less than a second, and the average time between order receipt and execution is an impressive 0.071 seconds. For traders, this means you get the best price at the exact market moment. 

Trading Signals

With FXTM, you can receive expertly crafted FOREX trading signals directly to your inbox with Acuity's Signal Centre, available exclusively through MyFXTM, making it easier to spot and act on trading opportunities quickly.

These trading signals are released three times a day before the European, US, and Asian sessions. Signal Center can give you a heads-up on excellent opportunities in FOREX, indices, commodities, and stocks.

Education

FXTM has a powerful selection of educational resources in its Education section. The broker has taken the time to craft detailed ebooks on a number of trading topics, such as “CFD trading for beginners” and “How to trade natural gas.” The broker understands that traders have many questions about how to be successful, and it has curated an excellent slate of educational content in varied mediums.

Final Thoughts on FXTM

FXTM is a well-established and highly regulated broker, making it a safe choice for you to trust with your hard-earned funds. ​You can easily access trade opportunities in FOREX, CFDs on indices, stocks, commodities, metals, and cryptocurrencies. ​ 

The broker is known for its reasonable fees, low spreads, and recognized trading platforms like MT4, MT5, and the MyFXTM mobile app. ​ FXTM also provides excellent educational resources and responsive customer support in multiple languages.  While its product portfolio may not be as extensive as some larger rivals, it excels in providing a focused and efficient trading environment. ​​

Conclusion

FXTM deserves a positive review. With so many benefits, it is little wonder that this popular, well-established site has stood the test of time. Fees are mostly competitive, although some of the commissions could improve in this area. 

Additionally, the range of assets offered for trading could be more diverse. However, you will not go wrong with this broker if you are happy to trade with controlled exposure to FOREX, CFDs, metals and energies, and major US stocks. 

In the meantime, its educational tools, including demo accounts and webinars, provide efficient and targeted training, and the account-opening process is fast and fully digital. It is no surprise that FXTM’s reputation is right up at the high end of the industry, with a lengthy record of accomplishment and good regulatory standing in all its markets.

FXTM in Brief

FXTM is a well-established broker with strong regulation and competitive pricing as its main strengths. It offers a wide range of account types through which to trade a diverse choice of financial instruments. Its educational offering is comprehensive and easy to access.

Review Methodology

The team at Arincen collected more than 120 pieces of data covering more than 100 licensed FOREX companies. Data collection was done in three ways:

1. Companies’ websites.

2. Other websites that have ranked FOREX companies.

3. A survey questionnaire (referred to here as Survey “1”) was sent to the companies invited to participate in the exercise. 

We have identified 12 criteria for our assessment, each containing several aspects and carrying its relative weight. These include licensing, deposits and withdrawals, number of assets, etc.  

Afterward, we validated the data by:

1. Registering with FOREX companies as a secret shopper and as Arincen.

2. Survey number “2,” in which we asked these companies’ customers for meaningful feedback and past experience. 

The next step saw us evaluate and rank each company, relying on the hard work of 15 Arincen employees. We were cautious in ensuring the most accurate assessment possible, including considering different languages and the various mobile-app operating systems, e.g., Apple, Samsung, etc.

To add credibility to our research project, we sent a final and third survey (referred to here as Survey “3”) to enable participating FOREX companies to evaluate our research and whether it accurately reflects the realities on the ground. We were fortunate enough to receive a mark of 9.9 out of 10! We have kept the margin of error to a minimum, which stood at a measly 1%. Please click here to learn more about how we came up with the evaluation.