FXTM Review

Forex Time has a comprehensive program for helping the novice and the most experienced trader. The only negative point is that this program is available only to the demo and live account owners, and not to the public.
On the plus side the introductory part of their ‘Beginners’ section is refreshingly light and very informative, But most importantly, FXTM shows the novice trader how they can succeed in the world of Forex by the following tools:

• One to One Help – FXTM pride themselves on the care they give to their clients and one of the most valuable services is the access to one to one help from their experts. Most FX companies will only help you technically and regarding their trading platforms, but FXTM go a step or two further in being able to support you through the trading process in your own language. Of course they offer technical help but they can also guide you away from expensive mistakes and direct you to training that will help your understanding of Forex trading.
• Educational Articles – After registration you will have access to their online articles covering many of the technical terms, all written in an easy to understand language. The articles cover the subject of Forex trading comprehensively and the offer is there to call and speak to one of their staff for clarification if you need it.
• Analyst – FXTM offer an innovative product which is ideal for new traders and for some of the advanced ones too. If you trade a live account with them, they’ll track your trades and, if the trade goes wrong or if it could be still more profitable, they will automatically advise you of how to do better next time. This is an amazing way of learning to make the most of Forex trading and one of the company’s key features.
• Forex News Timeline – The news section on the website keeps the trader up to date with what’s happening in the world of finance and how it affects trading, in a Timeline view
• Trading Central – One of the most valuable tools available online to the Forex Trading Community. FXTM followed Alpari in this one and are offering access to the Trading Central website for their clients. The Trading Central provides a more detailed look at Forex, equities, market indices, the futures and bond markets offering technical analysis reports on each of them – invaluable to the trader.

Forming a thread through the FXTM website information is their dedication to the client. The multilingual help desk can be contacted for any help or concerns. Account opening seems to work smoothly and an appointed account manager will guide you without being overbearing.

The company is already at an advantage being established with good previous experience, but additionally it has won several awards despite being founded only in 2013. Awards include ‘Fastest Growing FX Broker’ and ‘Most Innovative FX Product’. It’s still early days for the company but reviews from clients are also positive with praise for its products and its customer service. Other comments relate to the little details they offer over and above what might be expected from a broker. Those include the analysis of bad trades and the availability of help 24/5 in different languages.

FXTM is registered and regulated by CySEC which, in turn, is governed by EU regulations. The company is also a member of the Investor Compensation Fund so, in theory, your money is safe.

The industry’s standard, MT4, is offered by FXTM, as well as the new version, MetaTrader5. But what’s surprising is, although other brokers usually try to offer their own platforms and sometimes they do that successfully, FXTM decided not to. MT5 is still unproven to be reliable which makes MT4 number one. Both MT4 and MT5 are available in a variety of forms including mobile and tablet versions. Any client who has basic knowledge of the Forex Market knows that MT4 is the industry standard, so you really don’t need any other platform.

 Reliability is still unparalleled on FXTM server.

Leverage on FXTM accounts is floating and can be up to 1:1000 depending on account type and trade size. Their MetaTrader platforms allow you to incorporate Expert Advisors into your trading and support MQL if you want to write your own. Swap is dealt with as an adjustment to your entry price making them a bit risky to trade with given the fact that they give themselves the right to alter the price you execute at, however no incidents had been reported to any regulatory authority nor complains were written on any review website. Offering ECN can avoid the pitfalls of re-quotes and slippage but, whilst the company promises to avoid re-quotes and slippage on MT based trading platforms, it stresses that under certain adverse trading conditions, this may occur. This may have an impact on Stop Loss and Take Profit points in volatile trading.

FXTM pride themselves on low costs and offer spreads from 0.5 on the major pairs down to zero on the ECN trading platforms since they charge commissions on the size of the ECN trade. They offer leverage up to 1:1000 which is not an industry standard, being usually between 200 and 500:1.

FXTM have regular deals, not all of them are understandable or attractive, but the current one is offering 200% cash back on all deposits. Their conditions to qualify for the Bonus is not so hard, however, you should always read the small print, since not all of bonus structures FXTM offers is achievable.

The fact that they didn’t develop their own platform as well as a few points regarding their trading conditions shows that FXTM is a new broker. Not to be mistaken with unethical industry practices, they offer one of the best client support service in the industry. Their multilingual team proves that they are in the market to stay. They offer trading in over sixty currency pairs as well as, CFDs, commodities, ETFs, indices and shares Getting started is quick and easy and you’ll get friendly guidance along the way. The website is extremely user friendly, easy to understand and gives a real impression of FXTM’s commitment to the client. You might have to recheck some of their legal documents to make sure they are the type of broker that suits you.