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And investors try to make money by correctly predicting the price movements of different pairs. Access hundreds of trading instruments online across forex, indices, commodities, and stocks. By the time you’re ready to move to live trading, you’ll have grown the confidence to start using real money. FXTM also provides live chat on its website or via WhatsApp, Telegram, or Messenger. Since the product and services portfolio at FXTM remains well-explained, I doubt most traders will require assistance.

When you trade with us, you trade on one of these two powerful platforms, beloved by traders of all experience levels around the world. FXTM offers traders the MT4/MT5 trading platforms and has developed its proprietary mobile app, FXTM Trader. They ensure traders have an edge versus the out-of-the-box versions most brokers offer.

Where is Forextime based?

FXTM offers traders a commission-free and commission-based Forex account. The former ranks among the more expensive ones, but the latter account is one of the best ones available. I can highly recommend it for high-frequency traders and scalpers.

Free to download and the industry favourite of FX and CFDs traders worldwide. With friendly Customer Support, the latest technology and a range of account types, we’ve got everything you need to discover better trading. No one makes it easier, open an account or try our demo account to get started while you build your skills. FXTM is legal, complies with four regulators, and has a clean track record. FXTM established itself among the most trusted Forex brokers industry-wide. FXTM does not charge internal fees, but third-party payment processor costs may apply.

Equity CFD trading is commission-free as Forextime joined the group of brokers catering to millennial and GenZ traders favoring no commissions. I want to stress once again that commission-free does not necessarily equal cheaper trading costs. Spreads are generally higher, often twice as high, than commission-based offers, and FXTM is no exception.

I want to point out that only verified trading accounts may request a withdrawal and that FXTM enforces a withdrawal hierarchy. FXTM will return funds to the payment processors used for deposits, and it appears that traders must withdraw profits exceeding them via bank wire only, which is expensive. One of the most ignored trading costs is swap rates on leveraged xcritical overnight positions.

You can ‘go long’ and buy a security, hoping it will go up in value and give you a profit, or you can ‘go short’ and sell in the belief that it will go down in value. Forex (also known as FX) is short for foreign exchange the global marketplace to buy and sell foreign currencies. Skill up and practice zero-risk trading on our free demo account. A swift online application onboards new clients, and the process takes less than 20 seconds, as FXTM does not collect unnecessary information.

1. That’s because ForexTime FXT is registered in countries with strict deposit protection schemes and has built up a solid reputation since opening for business in 2011.
2. The inclusion of demo accounts and a flexible leverage system makes this a good trading platform for beginners and experienced forex traders alike.
3. FXTM earns its revenue from volume in this account type, as spreads will average above 0.2 pips, which remains one of the most competitive offers industry wide.

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. A demo account is available at FXTM, and I did not find a time restriction. Therefore, it is ideal for testing strategies and expert advisors. Forex demo account is available for MT4 and MT5 and allows traders to select the demo account balance and leverage. While no demo account can simulate live trading conditions, the options available at FXTM come as close as possible to doing so.

How to open an FXTM demo account

FXTM offers 16 payment processors, ensuring xcritical official site many localized options for its core markets. The MyFXTM back office is where traders make all their deposits and withdrawals. Forextime does not levy internal deposit fees but charges for withdrawals, which is unfortunate. Traders may also face third-party processing costs and currency conversion fees. I recommend checking them to determine the most convenient and cost-effective solution.

Find out about one of the best trading apps on the market in our ForexTime FXTM review

PricewaterhouseCoopers Limited (PwC) also audits select performance statistics, and FXTM remains one of the more transparent brokers. I applaud them for their focus on the trading environment, granting clients a distinct edge. Forextime is also acquiring a regulatory license in Kenya as it expands across the African continent. On February 26th, 2021, FXTM ceased its retail operations from its CySEC regulated entity. It cited the uncompetitive regulatory framework introduced by the European Securities and Markets Authority (ESMA) for its reason.

The ForexFXTM platform is full of handy features to help you manage trades. After that, you can finish the account-opening process in your browser or on a mobile device by installing the FXTM Trader app. In total, there are five steps to complete before you can begin trading.

Which FXTM trading account is right for you?

A $5 monthly inactivity fee applies after six months of dormancy. I find this reasonable and acceptable, and active traders will never face this cost. You can choose between six different types of FXTM trading account. Three of these are Standard Accounts and three are Electronic Communications Network (ECN) Accounts. We’re regulated in multiple jurisdictions and offer full segregation of funds for retail clients.

I always recommend traders check for regulation and verify it with the regulator by checking the provided license with their database. I like that Forextime continues to adjust to market and regulatory changes, ensuring traders maintain a competitive edge. The degree of transparency is another positive I want to point out. Big Four accountancy PricewaterhouseCoopers Limited (PwC) audits published statistics per International Standard on Assurance Engagements (ISAE) 3000.

FXTM Pro ECN accounts, for example, only offer super low spread values if a balance of 25,000 USD/EUR/GBP is maintained. Rather than using real cash, you can start practicing trades with a risk-free virtual account. This is a great way to get a good understanding of how the ForexTime FXTM trading system works. As one of the successful brands running within Exinity Group, we’re specialists in giving you the potential to make financial returns on a range of financial markets. Whether you’re an experienced trader or completely new to it, we’re here to help you reach your goals. Trailing Stop is placed on an open position, at a specified distance from the xcritical price of the financial instrument in question.