Fxcm Review Is Fxcm A Scam Or Legit Forex Broker

Moreover, support staff is one of the best I have dealt with so far and provides assistance for clients 24 hours a day 7 days a week basis in more than 10 different languages. The company is known as a client-oriented forex broker that delivers products and services on meeting the needs of each client and the market that they operate.

Those looking for social/copy trading, particularly investors that are new to this kind of strategy, will find FXTM Invest a user-friendly introduction to how things work. Easy to use, it provides access to a variety of strategies, each with different investment and risk profiles. The available selection, whilst possibly enough for most traders is however fairly limited in scope when compared to that being offered by some of the bigger brokers. In addition to the MetaTrader apps, ForexTime provides a standalone mobile app, FXTM Trader.

You still can use famous MetaTrader 4, yet with FXCM’s integrated and developed features that include EAs, scalping and 0.01 lot sizes with Free VPS enhance, but within the average trade of 500k. From the moment you submit and confirm the request to withdraw money from your account the accounting department typically processed and confirm withdrawal within 2 business days. Nevertheless, allow your payment eur provider add on some working days to process the transaction as well. FXCM indeed conduct a very convenient way for account opening, so you can set a free practice account, which allows testing the platform and experience account benefits. For the globally presented offices, each of them as a branch of Forex Capital Markets Limited, follows country financial authority and licensed accordingly.

ForexTime no longer offers different ECN accounts & Standard accounts. FXTM aims to make deposits and withdrawals as simple as possible, which we can see from the Payment Methods offered, which should satisfy clients around the world. FXTM offers different Promotions depending on the country of origin of the Client. For example, if a Non-EU Client was to join the company, the Client would be offered a $30 Tradeable Credit.

The program is specifically designed to add more value to the trading activities of professional categorized clients. Experience on the site was fine but when it came to withdraw the funds, I received 5 different payments on 2 accounts in 2 different currencies. All in all, including the fee and the loss from currency change, my little gain was almost insignificant. FXTM offers a wide range of tools for both new and old traders, specifically in the area of education and research. The broker has a dedicated team that works hard on providing quality resources. The customer support team of FXTM was extremely helpful in solving all the dilemmas and issues that we had.

FXTM Brokerage Firm review

You can open a live forex trading account quick and relatively easy, where firstly you can sing in for Demo account and then upon confirmation of your residence and compliance of application start Live trading. FXCM allows leverage trade of Forex and CFDs, this tool brings an advantage even on the smallest market moves. In simple words, leverage is a credit shoulder that is given by the broker towards your trading account with a purpose to multiply the trading size of your positions. Not many firms have achieved the success that FXTM has achieved in the forex market.

Fxtm Review & Author’s Comment

FXTM is one of the few brokers that offer clients to trade in both MetaQuotes platforms. In other words, itallows the clients to use both MT4 and MT5 platforms for trading. Most importantly, both of these trading platforms in desktop, web and mobile platforms with the provision of regular updates. The forex trading education section at ForexTime is comprehensive and is a great asset for any new trader. The company offers seminars, webinars and ebooks to get you started. FXTM is here to retrace and help you recover your lost confidence in forex market.

  • You will be notified to complete your profile as the first thing on the panel by submitting your personal information and full address.
  • Overall, FXTM appears to give their clients an exceptional broking service.
  • On the positive note, FXTM has low spreads with ECN account, instant order execution, trusted regulations & good support.
  • There are several differences between the Standard Account Types available, but the most important ones for newbie traders are the Minimum Deposit and the Spread.
  • Whether taken as a signal to trade or just extra information on where the market may be heading, the access to Pivot Points is a definite plus.
  • As a trader you will definitely enjoy attractive offerings from the broker, along with the splendid technical development and a variety of tools to use.

The formula it uses in this respect is /1,000,000 x Commission x 2. FXTM offers a full service trading experience no matter whether you just started trading or are a seasoned veteran. A trader can easily find whatever they are looking for on the company’s easy to navigate website, which is available translated into 18 languages.

Fxtm Features

It is becoming hard to stand out in the news and analysis arena unless you hire a large, established industry name, or have a news factory producing breaking news 24 hours a day. FXTM’s news and education tools are good in relation to the industry standard. The news feed at ForexTime offers a commentary from investment banks and research houses that is useful if you are a novice trader. They keep up with all the markets key themes and deliver news accurately and on time.

As per our research, the promos and bonuses offered by FXTM are superior to the other brokers that are operating in Nigeria. Their website allows traders to attain deposit bonuses as well as attaining credits when registering for the first time. In addition to this, the users can also avail loyalty cashbacks which are withdrawable, making forex analytics it a really attractive proposition for any trader. Such a range of promotional schemes cannot be matched by any other broker present in the market, and therefore it makes FXTM the broker of choice in terms of bonuses and promotional schemes. FXTM offers very convenient payment options for deposits & withdrawals to its Nigerian customers.

FXTM Brokerage Firm review

Being government regulated organisations, both FCA and CySEC requires the licensed organisations to hold a minimum amount of €730,000 as a testament to their financial stability. Furthermore, they also ask the licensed companies to keep the funds of their clients in different accounts. Plus, regular reports must be submitted regarding the commission by authorised entities. No, FXTM seems to follow all the regulations in the EU and offer a good trading environment for forex traders. Their customer service is great, and they have stood the test of time in a very competitive environment.

Trading Platforms

Since its development and great potential from January 2015, Leucadia has become the majority economic owner of FXCM. Leucadia National Corporation is a holding company that withholds an excellent reputation and invests in a diverse array of businesses, mainly in financial services and investments. The30% Bonus Promotionis offered for any amount of the first deposit made and to a minimum of $500 USD for each of any further deposits. Many brokers have dropped out of the market recently due to flash crashes and ESMA regulation changes, but FXTM have managed to ride the storm and this tells us they are solid. Initially launched in 2011, FXTM has established itself as one of the leading forex brokers in the EU. You may lose all your investment here if you don’t follow instructions and stick with your strategy that you designed for yourself. So we teach you how to design and plan your own strategy for better trading experience.

FXTM clearly shows its focus on new traders with the inclusion of a proper educational section which contains videos, articles, eBooks, webinars, and seminars. Before trading live markets, new retail traders should consider reviewing the educational offerings at FXTM. In-house research consists of brief written content and market analysis videos, which provides new trading ideas on a regular basis.

This is definitely due to their experienced management team that understands the needs of their clientele, strongly abides by regulations, and focuses on the security of their clients’ investments and funds. We aim to think global, act local with our website, so that whether you’re in Asia, Europe or Africa you can gain from our content on the world’s biggest market. The light-touch feel of the site does also translate into navigation of the platform being a streamlined and enjoyable experience. Although nothing is really lacking from the FXTM platform, it doesn’t necessarily blow the competition out of the water. To give you the best possible experience, this site uses cookies.

FXTM Brokerage Firm review

They have a range of payment options offered to the Nigerian traders as well as the number of trading instruments on offer, with anywhere access platform makes it a good broker in the business. The best part about FXTM is that the company rewards its users in real cash which is actually withdrawable. This is a big difference compared to all other major brokers who choose to reward loyalty in the form of forex analytics points that cannot be withdrawn. Traders at Forextime can continue to be rewarded for a period of up to 6 months. In addition, you can also earn rebates by trading through their platform. Further, if you register your account and trade via the FXTM’s Trader app, your loyalty points are doubled for every trade. This kind of loyalty cashback scheme is not available with any other broker in the market.

Forex Trading.Company was established to provide global traders a deep and insightful source of information on forex trading strategies and indicators. We list the world’s top regulated and authorised brokers suitable for a global audience. Mobile trading is now key and when we did our FXTM broker review we found that the MetaTrader platforms that form the base of the ForexTime desktop trading experience are also made available in mobile format. The required Android and iOS versions of the MT4 and MT5 apps are easily accessed through the Android and iTunes app stores. This is very much the standard experience and being able to use the same platform for desktop and mobile trading always helps. The MetaTrader apps allow you to draw charts, make trades on forex pairs and CFDs, as well as set up alerts for certain price points.

MT4 was released in 2005 and its platform that is loved by investors of different trading levels. It offers 30 technical indicators such as Alligator, Bollinger Bands, Average Directional Movement Index, etc. – technical indicators detect changes in price dynamics of financial instruments. MT5 offers additional indicators, such as the Elliott Wave Theory, Regression Channel, etc. Mostly, FXTM does not charge commission and instead integrates the broker’s fee into the spread. The broker does, however, charge floating commissions on ECN accounts when a position is left opened and doubled at certain levels. Our FXTM review starts with a look at the management behind the brand. The broker boasts an impressive line-up of seasoned professionals with long experience in the forex and CFD markets.

Platforms & Tools

The screenshot below shows FXTM’s proprietary MT4 WebTrader page with real time market pricing, deal execution, and tools for technical and fundamental analysis. Entry to this website and the provision of any service via this website could be limited in some jurisdictions and thus users using this website are expected to educate themselves and follow these restrictions. I believe the company can be more proactive in their customers service response and also i can see many negative feedback on forums such as slow withdrawal of amounts from the accounts. ECN accounts work through direct market execution, meaning there is no dealing desk between the trader and the liquidity provider. FXTM offers +250 financial instruments for trading across five asset classes. Many traders believe that MT4 and MT5 should not be compared, because MT5 was designed to the things that MT4 could not do, such as trade in other markets except Forex. It is important to note that there is no backward compatibility, so essentially, MT5 is not an upgrade to MT4 but a platform for different uses.

Portfolios are assigned through a selection of carefully screened traders with consistently successful track records. The company is also registered with and licensed by the Financial Sector Conduct Authority of South Africa. spreads, that appears to give their clients an exceptional broking FXTM Brokerage Firm review service. The ECN Zero account does not charge commission; instead, the broker’s feed is integrated into the spread. In addition to this, MT5 offers additional graphical objects that help analyze price trends, and, most importantly, MT5 offers 21 timeframes, while MT4 offers just 9.

Leverage: 1000:1

It is the only forex trading company that can give you that money, wealth you have craved to have but yet little time spent with no work done. This credit is fully tradable and can be used to place live orders. It can be availed by simply making a minimum deposit (as low as ₦1000) in your account within 6 months of joining FXTM.

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