FXTM Review: Invest In Forex Trading With MT4 & MT5 App
Traders who are searching for a regulated and licensed broker must know about the FXTM review. Furthermore, this broker will make your trading life easier with a unique trading experience.
FXTM is an award-winning Forex broker. However, FXTM is also provided other trading instruments like CFD’s on commodities, CFD’s on indices & ETFs, Spot metal, CFD’s on Shares, and lastly CFD’s on cryptocurrency.
ForexTime (FXTM) has started their journey in 2011 with an extensive Forex industry experience and clear-eyed vision. First, Andrey Dashin developed the concept of FXTM. The target was to blind the time with the passion for the market.
The website is full of trading-related education, a wide range of trading tools, and other materials that we have mentioned in this FXTM review.
It has also a talented and experienced workforce who tries to give the best service to their clients. The mission is to concentrate on Time.
On the other hand, they try to give an excellent service whether traders have a small or big investment.
Moreover, traders can experience the smoothest trading with their mobile, desktop, and web-trading platform.
The tagline is-
“Time is Money. Invest it wisely”
Every decision the team makes is designed to ensure their client’s facilities that they can invest their time wisely. The financial market needs more attention when you are going to trade with the popular trading instrument.
We covered the FXTM review with a few phases. Each phase will describe the importance of trading with this top-rated broker.
ForexTime (FXTM) Review
High Capital Risk Is Involved In Financial Trading
FXTM is a globally licensed and regulated broker. Traders will get an opportunity to trade numerous trading instruments.
With the help of free webinars and seminars, traders will learn how to trade the financial market. Moreover, a market researcher team will give you all the updated market news. The step by step trading tutorials will help traders to know about FXTM and trading market place.
Your account manager will help you to execute the trade with proper guidelines. However, traders have full control over the investment account.
A demo account will help you to practice trading before investing the real money. You can copy trades from suitable traders; profits they do.
With ForexTime broker, you can trade with more than 250 trading instruments and can choose your account types.
Traders can start trading with a low minimum deposit without any hidden fees.
High Capital Risk Is Involved In Financial Trading
Why FXTM
There are numerous reasons behind registering with FXTM. It is the fastest-growing broker around the world.
Another key point is that if you need a broker to rely on, then FXTM is the right choice for you.
The broker will give trading clarity, transparency, and simplicity. You can trade your favorite currency pair while educating yourself regarding trading.
They have unique trading features, which will give you a smooth trading environment.
These are –
- Regulated and Licensed Broker
- Low deposited amount
- Spreads from 0.1 Pips
- Leverage up to 1:1000
- No Dealing Desk Technology
- Wide verity of account types
- Zero hidden fees
- Demo Account Facility
- Automated trading facility
- Over 50 currency pairs
- Fast execution
- Expert Advisors
- Trading signals on MT4 & MT5
- Personal Account manager facility
- Hi-Tech trading tools
- Dedicated 24/7 customer support
- Mobile trading facility
- Over 31 payment option
- Social trading facilities
- Learning center support
- Investment program
- Popular trading platforms
- More than 250 trading instruments
- Micro and Mini lot
FXTM Review - Licenses And Regulation
The FXTM brand is launched in 2011. Forextime LTD, ForexTime UK LTD, and FT Global Ltd are three different entities under the FXTM brand.
Each entity is regulated and offer different products to its traders. Trading with a regulated broker ensures trading transparency, security, accountability, and so on.
- The International Financial Services Commission of Belize regulates FT Global Limited. The license numbers IFSC/60/345/TS and IFSC/60/345/APM. They obtained this license is September 2014.
- First, the Cyprus Securities Exchange Commission (CySEC) under the Cyprus Investment Firm (CIF) regulates ForexTime Limited. The license number is #185/12, licensed by the Financial Conduct Authority (FSCA) of South Africa, with FSP No. 46614.
- Second, the Financial Conduct Authority of UK authorizes Forextime UK Limited with license number 600475.
- Third, Exinity Limited is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295.
FXTM broker operates its platform with 18 different languages. Traders can set their preferred language from the list.
Awards And Achievements
Our awards are a testimony to our international character, outstanding customer service, and innovative services.
In the shortest period, ForexTime (FXTM) receives plentiful awards for its service and experienced trading solution.
They are growing with their mission. Day by day the mission is getting clear. Moreover, their commitment is getting stronger for their clients.
The broker is started to receive awards from 2013 to until this year 2019. Till now, they have 31 awards for different categories including excellent trading service and platform.
These awards are specially for the fastest growing broker, best partner program, most educational broker, best-trusted Forex broker, best innovative product, and for several renowned works.
High Capital Risk Is Involved In Financial Trading
FXTM Login And SignUp Process
FXTM is offering a demo account to their traders. You can choose either a demo account or live account from their website.
Before choosing the account type, you have to register yourself through their website.
Click to the Register button and put your information. You need to submit your first and last name, email address, country, and password along with contact number.
You will get a security pin through your email address or mobile number.
Put that pin into the security box and click open account.
Fill some important fields like personal information and current address details, to complete your registration. After this, you will get a login ID.
To open a live account with a password, traders need to select the account type, currency, Leverage and click the box if you swap free account.
It is also applicable for Demo account.
Deposit a minimum amount of money depending on your trading account type to start your live trading.
Download your trading platform. For security purpose, upload your legal documents such as proof of identity documents and proof of address documents.
You can also customize your live trading account.
For FXTM Login, you have to enter MyFXTM ID or email address with a registered password.
High Capital Risk Is Involved In Financial Trading
Account Verification Process
In general, account verification is needed to get access to all areas of your dashboard. Without account verification, you can not activate your account and place trade.
Another key point is that traders have to submit identity documents and proof of residence.
Remember, if your ID document also states your residential address, then an additional Proof of Address document may not be required.
FXTM accepts both scanned copies and mobile photos of the FRONT and BACK of your document.
Meet the following requirements:
- Clear, with no blurs, light reflections or shadows
- Full name should be visible
- Issue or expiry date
- Place and Date of Birth OR Tax Identification Number
Step 1: A color copy of valid passport or other official state ID (e.g. driver’s license, identity card, etc).
Step 2: A recent utility bill (e.g. electricity, gas, water, phone, oil, Internet and/or cable TV connections), or bank statement.
FXTM Demo Account
You can open a demo account from the FXTM trading window. A demo account is necessary to open for practicing trading and applying new trading strategies.
Via a demo account, you can take a risk with virtual money but not with the real money. After opening a demo account you will get a user ID, password and will get an investor password.
Traders will get $9,000,000 worth demo account. You can also select the server while opening a demo account.
It is our recommendation for all traders that do not over-rely on a demo account.
The market condition will not always remain the same. The trader’s emotion will also vary.
Moreover, the demo account Leverage is 1:1000. So, you can develop your trading skills by choosing one of the account types.
High Capital Risk Is Involved In Financial Trading
FXTM Account Types
FXTM offers different account types for a novice to expert traders. Each trading account has different facilities for its traders.
They have two main trading accounts (Standard account and ECN account) that will give you an opportunity to match your trading requirements and objectives.
At the same time, you will get various types of account under these two main categories.
Standard Account
There are 3 types of standard trading account.
Standard Account
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Trading Platform MT4
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Floating Leverage
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No commission
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Maximum order 100
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Floating Spread 1.3
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Margin Call 40%
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Stop Out 20%
Cent Account
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Trading Platform MT4
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Fixed Leverage
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No Commission
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Maximum Order 300
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Floating Spread 1.5
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margin Call 60%
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Stop Out 40%
Shares Account
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Trading platform MT4
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Fixed Leverage
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No Commission
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Maximum Order 300
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Floating Spread 0.1
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Margin Call 40%
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Stop Out 20%
Detailed information regarding each account types, you can see below.
It will help you to choose your one depending on your requirement and trading experience.
This account type is suitable for all types of traders. NGN account is also available in this type of account. NGN account is only valid for Nigerian traders.
- Trading Platform Met trader 4
- Account currency USD/EUR/GBP/NGN
- Leverage floating from 1:1000-1:25
- Minimum Deposit 100 USD/EUR/GBP & 20,000 NGN
- No commission
- Instant Order Execution
- Spread from floating 1.3
- Margin Call 40% & Stop Out 20%
- Pricing quotes 5 decimal
- Limit and Stop Levels 1 Spread
- Step lot 0.01
- Minimum trade volume 0.01
- Trading instruments – Majors, Minors, Exotics— 59 Spot Metals — 5 Spot CFDs – 14, Crypto-Currencies—4
- Available Micro, Mini and Standard Lot
- Trade volume 30 (Max)
- Maximum pending order 100
- Trading order maximum of 100
Cents account always deals with cents. No matter how much money you put in your account, it will show the balance in Cents
- Trading Platform Met trader 4
- Account currency USD cent/EUR cent/GBP pence/NGN kobo
- Leverage fixed from 1:1000-1:25 (FX) 1:500-1:25 (Spot Metals)
- Minimum Deposit 5 USD/EUR/GBP & 1,000 NGN
- Instant Order Execution
- No commission
- Spread from floating 1.5
- Margin Call 60% & Stop Out 40%
- Limit and Stop Levels 1 Spread
- Swap-free account
- Trading instruments – Majors, Minors— 25 Spot Metals — 2
- Available Micro (0.01), Mini (0.1) and Standard Lot (1)
- Maximum trade volume 1
- Pricing quotes 5 decimal
- Max pending order 100
- Trading order 300 (Max)
You can trade CFD through FXTM shares account. Over 180 shares are available for traders.
- Trading Platform Met trader 4
- Account currency USD /EUR /GBP /NGN
- Leverage fixed 1:10
- Minimum Deposit 100 USD/EUR/GBP & 20,000 NGN
- Instant Order Execution
- No commission
- Spread from floating 0.1
- Step lot 0.01
- Margin Call 40% & Stop Out 20%
- Limit and Stop Levels 1 Spread
- Swap-free account
- Trading instruments – CFDs- over 180
- Available Micro (0.01), Mini (0.1) and Standard Lot (1)
- Minimum trade volume 0.01
- Max trade volume 10
- Pricing quotes 2 decimal
- Pending order maximum of 100
- Trading order maximum of 300
High Capital Risk Is Involved In Financial Trading
ECN Account
There are 3 types of ECN trading account. You will get the market execution and no re-quotes.
ECN Zero Account
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Trading Platform MT4/MT5
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Floating Leverage
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No commission
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Spread from 1.5
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Margin Call 80%
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Stop Out 50%
ECN Account
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Trading Platform MT4/MT5
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Floating Leverage
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No Commission
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Spread from 0.1
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margin Call 80%
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Stop Out 50%
FXTM Pro Account
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Trading Platform MT4/MT5
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Floating Leverage
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No commission
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Spread from 0
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Margin Call 80%
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Stop Out 50%
Click the below slider to know more about each ECN Account types.
- Trading Platform MT4/MT5
- Account currency GBP/USD/EUR/NGN
- FXTM invest MT4
- Leverage floating from 1:1000-1:25
- Minimum Deposit 200 GBP/USD/EUR, 20,000 NGN
- No Commission
- Market Execution
- Spread from 1.5
- Margin call 80%, Stop out 50%
- Swap-Free for MT4 platform, not for MT5
- No limit and Stop levels
- Pricing quotes 5 decimal for MT4 and MT5 (FX), 2 decimal for Spot Metal (MT4), 3 decimal for spot metal (MT5)
- Trading instrument for MT4- 65, MT5- 35
- Min trade volume 0.01
- Available micro, mini and standard Lot
- Step lot 0.01
- Trade volume maximum of 100
- Trading order unlimited
- Max pending order 300
- Trading Platform MT4/MT5
- Account currency GBP/USD/EUR/NGN
- FXTM invest MT4
- Leverage floating from 1:1000-1:25
- Minimum Deposit 200 GBP/USD/EUR, 20,000 NGN
- Commission USD 2 per Lot
- Market Execution
- Spread from 0.1
- Margin call 80%, Stop out 50%
- Swap-Free for MT4 platform, not for MT5
- No limit and Stop levels
- Pricing quotes 5 decimal for MT4 and MT5 (FX), 2 decimal for Spot Metal (MT4), 3 decimal for spot metal (MT5)
- The trading instrument for MT4- 65, MT5- 35
- Minimum trade volume 0.01
- Available micro, mini and standard Lot
- Step lot 0.01
- Maximum trade volume 100
- Order unlimited
- Pending order max 300
- Trading Platform MT4/MT5
- Account currency GBP/USD/EUR/NGN
- FXTM invest MT4
- Leverage floating from 1:200-1:25
- Minimum Deposit 25,000 GBP/USD/EUR
- No commission
- Market Execution
- Spread from 0
- Margin call 80%, Stop out 50%
- For MT4 platform swap-free, not for MT5
- No limit and Stop levels
- Pricing quotes 5 decimal for MT4 and MT5 (FX), 2 decimal for Spot Metal (MT4), 3 decimal for spot metal (MT5)
- Trading instrument for MT4- 45, MT5- 35
- Minimum trade volume 0.01
- Available micro, mini and standard Lot
- Step lot 0.01
- Trade volume 250 (maximum)
- Unlimited trading order
- Maximum pending order 300
High Capital Risk Is Involved In Financial Trading
ForexTime Trading Instruments
In our ForexTime review, we are going to mention the trading instruments that are essential to execute trades. Traders are available to trade with over 250 trading instruments.
The trading assets are:
- Forex
- Spot Metals
- Share CFD’s
- CFD’s on Commodity futures, ETFs, cryptocurrency, and Indices
For Forex trading there is a wide range of currency pairs available. The floating Leverage is up to 1:1000. On the other hand, FXTM is allowing you to trade over 50 currency pairs, 5 days a week.
Low spread starting from 0.1 and the pricing is 5 decimal. You can trade Gold and silver as Spot Metals. In MT4 trading shares account, you can trade almost 180 stocks.
Traders will get a few commodities to trade ranging from oil products, such as West Texas Intermediate (WTI), Brent Crude to Indices such as the CAC, DAX, and S&P worldwide.
You can trade CFD’s on the most popular cryptocurrencies such as Bitcoin, Litecoin, and Ethereum. Similarly, trade the ETFs is possible through FXTM broker.
High Capital Risk Is Involved In Financial Trading
Trading Platform: FXTM MT4 & MT5 WebTrader
FXTM broker offers a downloadable trading platform like MT4 and MT5.
Trading through a web browser is also available. After registration, the broker’s main window will open from where you can choose your platform.
Traders will get the reward of $50 if he or she refers to their friends. There are 11 different types of trading platform for Android, IOS, and Windows users.
You have to download those trading platforms before login.
To perform trading from online, you can use the web trading option. Selecting trading is a must. To connect the account, put your login details, password, and server name along with personal details.
In the left side of the main window, you will get all the necessary information regarding your trading.
Traders can select the preferred language from the view option of the trading platform. Enjoy one-click trading options with trading indicators and charts.
FXTM MT4 Webtrader is giving real-time quotes, 9 timeframes, advanced analysis tools, and some other supports.
The user interface is simple with 18 different languages.
Features of MT4:
- Cutting-edge and user-friendly features
- Access to all major trading instruments
- Multi-currency/language support
- Automated Trading – Expert Advisors
For Webtrader, MT5 is giving real-time market depth, 3 chart types, 21 timeframes, more than 300 tools, and some other features.
Similarly to MT4, MT5 trading platform also accepts 18 different languages.
Features of MT5:
- Trading Signals – MQL5
- Extensive range of order types
- All execution modes
- Level II Dat
Trading Tools
To analyze the trading market properly, you need to apply a few trading tools according to your needs.
Moreover, the trading tools are FREE for traders.
Even more, you will get from technical analysis tools to risk management tools, in one platform.
Trading tools are:
- Daily Market Analysis
- FXTM Trading Signals
- Pivot Point Strategy
- Economic Calendar
- Forex News Timeline
- Currency Converter
- Margin Calculator
- Pip Calculator
- Profit Calculator
- Invest Profit calculator
Traders can also apply for an expert’s advisor. To analyze the market properly, ForexTime also provides a yearly market overview, the market forecast for every quarter.
Forex Education With ForexTime
In our FXTM review, you have tried to cover almost everything with is related to this broker. Forex newcomers are often getting confused about different terms of trading.
FXTM experts try to enlighten them on the fundamental concepts of Forex industry and prepare them to trade with FXTM.
Given that in the education part, the traders will get Articles and tutorials. Each educational articles are written by expert traders. These articles are designed for all types of traders to provide trading skills and knowledge.
Forex Webinars will give you a solid idea regarding the Forex industry. Moreover, it will help you to develop your trading experience.
In Glossary part, you will get numerous Forex terms explained nicely and in a simple way.
In the first place, you will never be lost or confused again while trading with ForexTime.
FXTM App: Mobile Trading
Android and iOS applications are available for mobile trading. In the first place, mobile trading is suitable for all types of traders.
The user interface is easy and you can perform your trading from anywhere.
If you have MetaTrader account with another broker, then you can simply switch that account with FXTM. You will enjoy fast and secure trading with MT4 and MT5 account.
- 30 Technical indicators
- 24 analytical objective and 9 timeframes
- Multiple chart types
- Real-time quotes and charts
- All trade orders available
- Build in market analysis tools
- Build in chats
- Ipad optimization
- Netting and hedging functionality
- Full features trading system
- Market Depth
FXTM launched their brand new trading app for traders who love to trade through mobile.
Trader App is a cross-platform mobile trading app, which will give you access to trade with 250+ trading instruments.
The new mobile trading app is here to meet the trader’s needs. keep the market in your pocket and move according to the global market.
Furthermore, this trading app will help you to receive live updates and monitor your trading instruments.
From the same trading app, you can manage your trading accounts and trading action.
Deposit and withdrawal funds are also available via this trading app.
High Capital Risk Is Involved In Financial Trading
Forex Copy Trading With ForexTime
Copy-trading service is a powerful trading method for Forex traders. You don’t need to be an expert trader to perform copy trading.
Invest a minimum amount of $100 to start copy trading. Traders are flexible to choose copy traders from 600+ strategy managers.
Traders can follow other expert’s traders and copy their trading strategy. You can choose which trader you want to follow directly from the terminal.
Copy trading is natively supported in MT4 and MT5 trading platform.
Following steps are necessary to start copy trading:
- Register for your Investment Account.
- Select the Strategy Manager of your choice.
- Verify your profile.
- Deposit funds and watch your portfolio grow.
FXTM Bonus
Everyone loves to get extra. FXTM offers its clients exciting rewards and bonus.
In truth, just start your trading with this famous broker; something will wait for you.
As I mentioned before, you will get $50 for referring this platform to your friends and family. The amount is applicable for each reference.
At the same time, the most popular promotions are deposit bonus and loyalty cashback. To enjoy the cashback program, you have registered an account with FXTM.
After depositing the money, you will receive weekly cashback on your every trade.
Enter into the trading contest to complete with traders who come from different places. Amazing prizes and prestigious titles are waiting for you.
FXTM Deposit Process
The process of depositing money is simple in the FXTM platform. A wide range of payment methods makes traders life effortless.
However, FXTM does not accept cash deposits. Moreover, traders have to verify their payment methods before depositing any amount.
FXTM minimum deposit amount depends on trading account types.
There are 4 types of option available for depositing money in your trading account.
- Local payment option
- Credit card
- E-wallets
- Wire transfer
Traders from different countries will enjoy local payment methods. Later, depending on your country, you can deposit your amount.
The processing time is up to one business day without any commission.
FXTM supports Credit Cards such as Visa card, MasterCard, Maestro, China Union Pay. The accepted currency pairs are GBP/USD.
There are more than 12 types of E-wallet such as Webmoney, Dixipay, Neteller, Skrill, Bitcoin, and so on. Each e-wallet accepts different types of currency available for global customers.
Meanwhile, the processing time is up to one business day. There is no hidden charge or commission applicable.
Bank wire transfer is only acceptable for GBP, USD, and EUR currencies. As usual, no commission is applicable. The processing time is 3-5 business days.
If your account remains inactive more than 6 months, then FXTM will charge an inactive fee of $5.
FXTM Withdrawal Process
For withdrawing amount from your account, you do not need to be distress. Similar to the deposit process, the withdrawal option is also easy and time-consuming.
There are 4 types of option available for Withdrawing money from the trading account.
- Local payment option
- Credit card
- E-wallets
- Wire transfer
Local methods are charging a commission for a few countries. The minimum commission starts from 0.05%.
To withdraw your funds, you need to wait 24 hours.
Credit Cards such as Visa card, MasterCard, Maestro, China Union Pay are accepted EUR, GBP, and USD. China union pay only accepts own currency.
China Union Pay is not charging any commission. However, others are charging a minimum amount of commission like 2 EUR/ 3 USD/ 2 GBP.
For E-wallet, the commission level started at 0.5% depending on the payment method and the processing time up to one business days.
Bank Wire Transfer has only accepted the EUR currency. The commission is 30 EUR applicable for global traders and the processing time is 24 Hours.
FXTM Contact And Support System
FXTM team always believes in TIME. They work for the client’s individual needs and try to respond as quickly as possible.
It has multilingual customer support. Clients from worldwide can communicate with a support team in their native language.
The website supports 18 languages like English, Italiano, Hindi, China, Français, and so on.
Apart from this, the support team also delivered a solution for –
- Trading and Technical Support
- Easy Account Opening Process
- Wide Variety of Deposit and Withdrawal Methods
- Diverse Selection of Trading Platforms
You can reach them through live chat facilities.
It is also possible to communicate with the support team via Whatsapp, Viber, Telegram, Messenger even call back facility is available.
Customer support also gives you a solution at the weekend.
You can also send them an email for your quires.
They have different contact and email address depends on the region.
Advantages And Disadvantages
After analyzing the trading platform, properly we came up a few advantages and disadvantages of FXTM broker.
The portion of advantages is slightly heavier than the disadvantages.
However, this is impossible to get any broker with cons.
Advantages:
- Regulated and licensed fastest-growing broker
- Excellence trading terms
- Free Deposits and Fast Withdrawals
- User-friendly trading platform
- The dedicated and multilingual customer support team
- A wide range of trading accounts
- Resourceful website
- Client approved less than 12 min
- More than 84% of fund processed within 5 min
- The percentage of positive feedback is 90%
Disadvantages:
- Limited choice of commodities
- Only Meta Trader trading platform available
- Education only for Forex, however, they have the opportunity to trade CFD.
Final Words: FXTM Legit Or Scam
Traders who are more concern about the broker’s legitimacy for then FXTM is the right choice.
For the review purpose, our team opened several accounts in their trading platform. They maintained their client’s security first.
The trading indicators are works very nicely and you can even have full control over your account.
ForexTime (FXTM) is a legit broker. Their funding option is convenient for brokers.
No matter you are a novice, experienced, swing or weekly trader, FXTM designed its platform for all types of traders. You can get support on the weekdays as well as weekends.
This reliable broker gives quality service to their clients.
The trading education with daily market analysis gives traders favorable trading experience.
We are welcoming newcomers to try this ideal broker if you wish to enter the financial market or to have a great trading practice.
