FXTM ForexTime Broker Review 2024 Fee vs Features

FXTM will charge such a fee ($5/EUR 5/ GBP 5) in case there is no trading activity for a period of 6 months. In both cases, we received emailed responses to our inquiries in a bit less than 24 hours, while the information was precise. Clients can contact FXTM for general and account-specific inquiries via email. Last but not least, the STP broker has provided short Forex trading videos focused on concepts such as Forex Basics, Trading Basics and Technical Analysis. For example, FXTM offers a selection of free eBooks that cover topics such as 50 Successful Traders’ Habits, Elliott Wave Theory, Bitcoin trading, and Bullish and Bearish Candlestick Patterns.

Trading commissions and fees

FXCM, on the other hand, does not have a dedicated social trading platform. However, both brokers provide tools and resources for traders to enhance their trading strategies. If you’re interested in social or copy trading, here’s a list of the best copy trading platforms.

  1. This is a great way to get a good understanding of how the ForexTime FXTM trading system works.
  2. To find out more check out our Help Centre article on calculating commissions here.
  3. I like that you can get access to plenty of tools to enhance your overall trading experience and excellent customer support.
  4. However, we found that FXTM provides a superior mobile trading experience.
  5. Three of these are Standard Accounts and three are Electronic Communications Network (ECN) Accounts.

What is Forex Trading?

Our Advantage account offers competitive commissions across FX, Spot Metals and Cryptocurrency CFDs. To find out more check out our Help Centre article on calculating commissions here. Commissions are the charges you’ll pay for us to facilitate your trades as your broker. In fact, with our Advantage Plus account, you won’t pay any commission fees at all.

MetaTrader 5

The broker provides you with a free Currency Convertor tool for you to be able to quickly calculate the foreign exchange rates of major FX currency pairs. As one of the successful brands running within Exinity Group, we’re specialists in giving you the potential to make financial returns on a range of financial markets. Whether you’re an experienced trader or completely new to it, we’re here to help you reach your goals. As you can see by the multiple business divisions, FXTM is a truly global forex broker. As a result, their customer support is diverse and wide-reaching to match each client’s needs depending on the region.

Technical Indicators

FXTM offer a wide range of over 250+ trading instruments including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies and CFDs. There are over 60+ minor, major and exotic currency pairs, 180+ share CFDs and major Cryptocurrencies such as Bitcoin and Ethereum. FXTM Trading Signals are available in MyFXTM via a technical analysis tool that provides data and assessments of market movements across a range of trading instruments. If you are new to trading and looking for some inspiration, these signals can give you a foundation to work from. However, I wouldn’t take blindly without doing my own additional market analysis for confirmation.

Embark on a journey into the dynamic world of trading with our comprehensive platform, offering global market access, competitive tight spreads, and an invaluable educational resource center. CFDs are sophisticated instruments that carry a high risk due to leverage, potentially leading to rapid financial losses. It’s essential to understand how CFDs function and to critically assess if you can afford the high risk of losing your investment. FXTM (Forex Time) launched in 2011 with the goal of providing retail traders with industry leading trading conditions alongside an abundance of educational material and trading tools. FXTM is a global MT4/MT5 forex broker giving traders access to a wide array of markets.

You can trade CFDs on Indices with FXTM and choose from some of the most prominent and active securities in the US, Europe, Australia and Asia. As per the name, the company values time as the most precious commodity above all. With every decision that they make, they put great emphasis on efficiency for their clients, operating with clarity, simplicity and transparency. Client needs come first, with helpful, skilled and multi-lingual support, always on hand to assist you every step of the way. The group’s global network of offices and regulations spans Europe, Africa, Asia and Latin America, and we have already attracted over 3 million clients across 180 countries. 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.

As with FXTM’s Cent Account, the ECN Zero Account smaller offers contract sizes for more precise trading. XM’s Micro Account requires a low minimum deposit and allows traders to make more precise trades with smaller contract sizes. Traders pay no commission fees, with minimum spreads of 1.0 pip on major forex pairs. With tight no commission spreads as well as competitive ECN-style spreads, XM traders gain access to better pricing and trading conditions than ForexTime. Additionally, XM promotes a no requote guarantee, meaning traders are certain their orders will never be rejected. FXTM offers social trading features, allowing traders to copy the trades of experienced professionals.

However, one broker slightly edges out the other in terms of depth and breadth of resources. Following FCA and CySEC regulations, traders receive investor protection up to £85,000 and €20,000, respectively. The investor protection insurance schemes ensure that in the case that XM or FXTM become insolvent, traders can receive a certain amount of compensation to cover losses. If you are trading with FXTM or XM outside of Europe and the UK, you will not receive protection via investor compensation schemes.

Trade the biggest US brands, including Tesla, Apple, Facebook and Microsoft, with no commission. You’ll pay that interest to fxtm forex broker review us – but we keep these fees as low as possible. Switching to FXTM is quick and easy – sign up in minutes to get started.

For more detailed spread comparisons, check out this comprehensive guide on low commissions. On the FXTM professional account, there will be no re-quotes and no commissions charged, while Forex spreads start from 0.0 pips. However, institutional-level spreads can be accessed only if traders’ account balance is maintained above the minimum deposit level all the time. Similar to FXTM, FXCM offers all-inclusive, variable spreads on its Standard account, which starts from 1.2 pips on major pairs such as EUR/USD.

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