The FXTM company has started its work in 2011. The head office is based in Nicosia today, on Cyprus. The specialization is access to the trading of precious metals, currency pairs, and CFDs. Despite this, the company is providing a range of profitable investment instruments.
FXTM website is multilingual. Particularly, it supports English, Russian, Arabic, Spanish, Portuguese, German, Chinese and other languages.
Detailed FXTM Broker Review
It is known that FXTM founded by a well-known personality in the world of investment and finance the CIS, Andrey Dasha. The same man is a co-founder of the well-known forex broker Alpari. Activity came to the company in 2013, when many features were added, the site was translated into a number of the above-mentioned languages. There have also been officially opened broker offices in London and Beijing.
With hundreds of thousands of active clients on its account, the company cannot do without constant monitoring by regulators. In particular, the broker’s activities are controlled by organizations:
• CySec (license number 185/12);
• FSP (license number 46614).
A regulator is responsible for the company’s representative offices in different regions of the world.
FXTM Broker Trading Conditions
General information about FXTM trading conditions:
• The minimum deposit is $10 (for a cent account) and $100 (for a standard account);
• Broker trading platforms are Metatrader 4 and Metatrader 5;
• The spread size is from 0.1 points.
For the opening of the trading account, you need to fill in your data and go through authorization by providing the code that you get on your email address. Traditionally, you have to fill in correctly your contact number, email address, name and last name, city/country of residence. Citizens of some countries are not allowed to use the service of FXTM broker (such as citizens of the USA, Japan, and Korea).
There are three currencies available for opening an account:
• CFD account for stock trading.
Minimal deposit is $10 for the cent account and $100 for the standard account.
The user can also choose the size of the credit leverage (range up to 1: 1000 is available everywhere). There is no defined maximum limit for deposit. The commission for transactions is not set. Also, the user can deposit and withdraw funds without the additional commission of the fx broker.
In addition to standard STR accounts, the user has access to deals with direct interbank market transfer (ECN). In particular, you can open:
• ECN Zero;
• ECN Standart;
• ECN Pro.
The difference between those categories is that transactions on it are held on the broker’s server.
The difference between these categories of accounts is that they are not processed on the broker’s servers. This guarantees non-interference of the company in the execution of orders, and it is making the trading transparent and safe.
The minimum deposit for ECN is $ 200 and $ 500 (for standard and Pro accounts).
You can open deals with this company not only directly but also use investment services. One of these is the FXTM Invest. It is a service designed to copy transactions. Accordingly, you can become a managing trader and earn money by transmitting your signals to other service participants. And you can also connect the execution of signals for a small commission yourself (usually a monthly fee is established).
The minimum investment amount is not standardized and is limited only by the conditions of the personal account.
Comparison of trading platforms
The company provides access to the WebTrader browser trading terminal, in addition to the standard versions of Metatrader 4 and Metatrader 5. It is a simple and intuitive trading tool that can be used from a computer and a mobile device. The company does not limit the user in choosing trading platforms.
FXTM Training and Analytics
The list of educational materials of the company does not differ from the offers of competitors. There are videos, articles, webinar recordings familiar for many. Nothing original and 100% useful. But in the analytical block on the site, you can find the really necessary economic calendar, all sorts of news from the FXStreet service and analytical material from Quarterly Market Outlook. The FXTM team has a pool of analysts and experts.