FXTM Review – Is it Legit? (September 2023)

FXTM have established themselves as a very well-trusted, and compliant broker across the globe. This is thanks in part to their regulatory oversight which comes from many of the most respected bodies in the industry. Currently, the broker is regulated by multiple top-tier regulators including CySEC in the EU, the FCA in the UK, FSCA in South Africa, and the FSC in British Virgin Islands. This provides them an excellent mix of regulatory environments and a degree of flexibility depending on the entity you are trading under.

Alongside the protection of top regulators, FXTM also provides negative balance protection which means you can never lose more than you deposit. They will also hold your funds in segregated accounts with top-tier banks to ensure security, and if you are a UK or EU based trader, you can benefit from the added protection of ICF fund insurance in the event the broker ran into any serious financial issues.

FXTM provides a strong selection of assets to trade in across several markets. In the forex market you can trade in more than 50 currency pairs. This selection includes major, minor, and some exotic forex pairs. Beyond trading forex, you can also trade commodities, indices, stocks, and crypto assets through FXTM as CFDS. There are a handful of assets, between 2 and 5 available in each of these categories outside forex.

A second major area outside the forex market where FXTM performs very well in terms of investment products offered, is in stocks. Through the broker, you can trade in more than 170 stocks in companies from both the NYSE, and NASDAQ. Many of these stocks are not only offered as CFDs, but also for real trading.

If you are interested in copy trading, FXTM also has you covered. They offer copy trading services through their own dedicated FXTM Invest platform where you can get started with a minimum deposit of $100.

FXTM do a great job in facilitating the offering of several different account types to traders. Through the FXTM standard account types, trading is widely commission-free, with floating spreads offered. These spread vary depending on your account type choice, but start from around 1.3 pips on standard accounts.

The broker also offers a range of ECN accounts which are available starting from a much lower spread, in some cases from 0 pips, though a commission starting at $2 per lot traded is applied. If you are a more experienced, or high volume trader, then an ECN account type may be the right choice for you.

If you are trading in real stocks and ETFs as is possible with FXTM, then a very minimal commission will also be charged. Similar to the majority of brokers, you can expect a swap-fee to be charged when trading CFDs based on the interest rates for that particular day. The exception here being if you have opened an FXTM Islamic trading account.

The broker does also have an inactivity fee. This comes in at $5 per month but is only applied after you have been inactive for at least 6 months.

FXTM offers trading through some of the most well-respected trading platforms in the industry in the form of both Metatrader 4 and Metatrader 5. MT4 is offered as you trading platform if you have a standard account, and MT5 is offered if you have an FXTM ECN account type. Both trading platforms offer a comprehensive range of charting tools and indicators within a highly customizable trading experience that is known throughout the industry for being one of the most robust, yet user-friendly in the sector.

Like many forex brokers, FXTM also try to offer some of their own proprietary choices when it comes to trading platforms. This comes through the FXTM Trader which is offered as a mobile trading platform that is very well designed, and easy to use. The FXTM copy trading platform FXTM Invest is also offered in this category and provides a high quality choice for those who wish to engage in copy trading through the broker.

FXTM customer support is generally very good. They offer support through a number of mediums including phone, email, and a website-based live chat service. The communication through all channels is both speedy and professional.

The FXTM support system is available in a total of 10 languages to cater for traders worldwide, and also offers an extensive FAQ section to help in answering some of the most frequently asked questions.

The broker performs very well in the area of education and offers a good range of diverse content suitable for many types, and levels of trader. Here you will have access to a wide range of video guides, tutorials, ebooks, and blog posts updated regularly to help you along the process of developing your forex trading skills and knowledge.

On occasion, FXTM also offers the chance to attend a number of webinars, forex seminars, and workshops delivered by industry experts in a variety of different topics.

Overall, our FXTM review found them to be an excellent broker choice. They have grown rapidly through their years in the industry thanks to the fact they offer a safe, transparent trading environment which works to prioritize the security of traders, and provide a very competitive trading cost.

Adding these factors to the range of markets available and the versatility with which FXTM products are offered, and it is clear to see why they are a popular choice of broker catering well for all traders no matter your experience level or budget.

Click Here to Visit FXTM