FXCM vs FXTM: In-Depth Comparison 2024 Update
Yes, FXTM provides the FXTM Trader app, which gives a complete mobile trading experience with access to trading accounts, markets, and real-time quotations. You can open and close positions in seconds, access live currency rates, manage your trading accounts, and stay one step ahead of the markets fxtm review with FXTM’s modern and intuitive forex trading app. FXTM offers various funding options to deposit and withdraw to and from your account. The broker does not charge any deposit fee, and a low minimum deposit is a plus point. However, FXTM charges a certain withdrawal fee for most payment methods.
What Type of Broker is FXTM?
Trading on MT5 with FXTM provides you with even more access to financial markets, including foreign exchange, commodities, indices, stocks, and futures. Forex fees are offered by FXTM spread only with no commission in case you use Advantage Plus and Micro Account. This type of fee brings you the simplicity of the calculation and is the best suitable option for many traders despite the strategy.
- Both brokers offer a diverse range of trading instruments, with Share CFD trading available on MetaTrader 5 only.
- The maximum volume per trade is 1 lot whereas there is again no commission charged but the spreads are floating from 1.5 pips.
- Their client focus ensures that they are there to make your trading experience as seamless as possible.
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- 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.
About a month ago I joined the platform…
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. 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.
How long does it take to deposit?
Also, the FXTM UK brand is licensed by the Financial Conduct Authority known as sharp regulator, which has principals built by European MiFID and ICF allowing cross-broker activity. The broker serves a global audience from over 150 countries, with a global network of offices, spanning Europe, Africa, and Asia. The company launched in 2011 with its headquarters in Cyprus (Limassol). The chain of FXTM offices is also established around Europe, located in the UK, and maintains an entity in South Africa. Also authorized by Financial Conduct Authority and other regulators, In a relatively short time, the firm showed great and rapid growth within Europe and beyond through its focus on Africa and Asia regions. Yes, FXTM levies an inactivity fee of $5 monthly after six months of dormancy.
Tie: Better Trading Platform
The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency. It would be better if they could add support for some more currencies, especially considering they have a global clientele. Keep in mind that there is a small inactivity fee of $5 if your account has no trading activity for 6 months. Through the ECN zero account, FXTM offers ask and bid prices directly from liquidity providers (LPs) although they do add a mark-up to the spread, the account is not charged a commission. This account has market execution with no re-quotes and spreads starting from 1.5 pips.
Having the choice of the Advantage or Advantage Plus is also good for more advanced traders. The Advantage Plus account offers commission-free trading, with all the broker profits coming from the spreads, which are still fairly competitive. This will suit traders who are willing to closely monitor those spreads and trade accordingly. FXTM offers trading via CFDs with competitive spreads and generous leverage. Spreads are as low as 0.1 pips when trading stock CFDs with the Advantage trading account. Minimum spreads are a little higher with the Micro and Advantage Plus accounts, but a zero-commission model is offered.
The demo account is an extremely powerful educational tool that lets you trade using virtual money to avoid risking any real funds. Demo accounts can also be invaluable https://forexhero.info/ to traders developing and testing a trading strategy. XM is better for experienced traders because of its competitive spreads and diverse range of account types.
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. Now, after diving deep into both platforms and considering all aspects, it’s time to give our verdict. Before making a financial move, everyone needs to learn more about search tools, such as FXTM review.
FXTM’s association with MetaTrader 4 has opened doors for traders to many market analysis tools, algorithmic trading capabilities, and custom indicators. This exceptional platform is deemed reliable in the competitive world of trade due to its exhaustive features. The Advantage Plus account from FXTM offers a blend of the benefits customers receive with their regular Advantage account but without charging any commission fees.
Besides the wealth of informative educational materials on the FXTM site, this platform has a solid customer support service. You can get assistance from agents 24 hours a day over the phone, via live chat, or through third-party platforms like WhatsApp and Telegram. This account is similar to the ECN zero account but spreads start from just 0.1 pips and there is a small commission charge of $2 per lot. Spreads are usually tighter and execution speeds superior on an ECN account.
