Forex Time Review: Is it the Best Platform for Beginners?

Available asset classes include major/minor/exotic currency pairs, spot metals, spot CFDs, crypto-currencies (some variation based on which platform you use). FXTM truly exceeds expectations when it comes to the wealth of account type offerings. One of the neatest perks is that nearly every account type has a corresponding free “mirror” or demo account. You can use these mirror demo accounts to practice trading strategies before and during your use of a live trading account. The FXTM experience revolves around tight spreads and super-fast connectivity.

Forex Time Review: Is it the Best Platform for Beginners?

There are a few other key FXTM products that you may come across during your time with the broker. All of this while on the go through your mobile device and a very easy to use platform. MT5 with FXTM is available only if you have an ECN account roboforex review and it still may not be available in some countries. Again the platform functions through Windows, MAC, iOS, and Android where needed.

For this reason, ECN accounts are more suited to experienced traders who may be trading on a larger account. 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 shakepay review best suitable option for many traders despite the strategy. FXTM’s three Accounts offer various fee conditions, so the standard spread starts from 1.5 pips for USD / EUR / GBP / NGN. Based on our Expert findings, FXTM is considered a good broker with safe and very favorable trading conditions. The broker offers a range of trading services designed for both beginner traders and professionals with low initial deposit amounts.

ForexTime FXTM: Final verdict

Their popularity with beginners and advanced traders alike comes down to them being so effective at supporting trading activity. They give traders everything they need to work their strategies in the markets. All clients have access to the MT4 platform, and non-UK clients can also take advantage of MT5. The MetaTrader platforms are the world’s most popular retail trading platforms.

Can I withdraw from FXTM?

FXTM is a global MT4/MT5 forex broker giving traders access to a wide array of markets. Sometimes referred to as ForexTime, FXTM offers clients low-cost trading, fast execution and world-class forex education. FXTM is a good broker well-known and regulated worldwide, there are numerous regulated entities of FXTM. Account opening is easy, FXTM has one of the lowest deposit requirements and trading conditions are good with low spreads and excellent customer service, and Forex education. All account types can be funded using a wide variety of institutions and services.

1. They not only allow it but provide a great range of tools and features to facilitate detailed charting and more indicators.
2. There are essentially six different accounts from which to choose.
3. All trading here is done with virtual funds but in an environment that perfectly replicates what live trading would be like.

The information you will receive can include a price target displaying both support and resistance levels as well as 4 identified take profit levels and a stop loss level. Moving on to the trading platforms you can expect to see, here is a lowdown on exactly what is available from FXTM in that respect. They are an ECN broker that primarily uses instant execution though this depends on your account type. A total of 5 indices are available to be traded as CFDs with the broker. These include 3 standard indices in the form of the DAX 30, ASX 200, and UK 100.

They didn’t allow me to withdraw the same way I funded my account. It took months of back and forth e-mails to eventually withdraw my money and close my account.4. Terrible experience.Updated – For “security reasons”, after period of 1 year, you can’t withdraw to your credit card, even if you credited your trading account with that credit card. There is no mention of this policy in the trading agreement and no attempt by FXTM to inform me at 1 year when the policy took effect.

Something that stands out from the crowd is the option to hold gold bullion. The standard accounts come with instant execution and are called Standard account, Cent account and Stock CFDs account. Filippo Ucchino is the founder and CEO of the brand InvestinGoal and the owning company 2FC Financial Srl. Filippo Ucchino started his trading career in Forex trading in 2005. He became an expert in financial technology and began offering advice in online trading, investing, and Fintech to friends and family.

One of the most ignored trading costs is swap rates on leveraged overnight positions. Depending on the trading strategy, it may become the most significant fee per trade. I always recommend that traders check them before evaluating the total trading costs.

In addition to the above features, FXTM also offers users a quality demo account so you can try the platform for yourself before investing any money. It’s important to note that FXTM in Europe only accepts professional clients as of March 2021. As pro traders are sufficiently experienced, the FXTM demo account is not available for them. FXTM offers traders the MT4/MT5 trading platforms and has developed its proprietary mobile app, FXTM Trader.

These factors are primarily which regulatory authority you are trading under and also which asset you are trading. If you do not have enough money in your account to cover the fee, then the broker reserves the right to close your account. The fee is charged after being inactive for a period of 6 months and is charged at a monthly rate of 5 EUR, USD, or GBP based depending on your chosen base currency. The only exception you may find is if you deposit currency does not match a base currency then you may have to pay a conversion fee. There are several deposit methods you will find available when trading at FXTM. This includes wire transfers, credit/debit cards that are Visa, MasterCard, or Maestro, and a range of eWallets including Skrill and Neteller.

Forextime (FXTM) offers a commission-free trading account, Advantage Plus, and a commission-based alternative, Advantage. When setting up your CFD trading account, you will be able to choose from three base currency options being the EUR, USD or GBP. If you are a resident of Nigeria, you also have the option of the NGN.