Best Forex Broker-FXTM (2017 Review)

Overview

FXTM is an offshoot of the renowned Alpari line of forex brokers which was created by Audrey Dashin. Since its founding in 2011, FXTM has grown by leaps and bounds to become one of the best forex brokers in a highly competitive industry . It has gradually expanded to involve different countries all over the world, although they still run their operations from their headquarters in Cyprus. Going by the uniqueness of this broker, it is no wonder why they are the most sought brokers in the industry.

Regulation

FXTM is a well regulated body with regulations from regulatory bodies of different regions. FXTM is regulated by the Cyprus Securities and Exchange Commission (CySEC), licensed by the Financial Services Board (FSB) of South Africa, Financial Conduct Authority(FCA) of the UK and has an established branch in the UK.

 

Customer Support Info

To keep up their ever growing customer base, FXTM has made it a primary duty of theirs to establish an effective and credible customer support. The customer support run by FXTM boasts of a 24/5 live chat, customer care hotlines and emails. This wide variety of communication method, helps a customer communicate best using which ever suits him/her in terms of degree of urgency.

 

 

Trading accounts

FXTM has a diverse collection of trading accounts ranging from Standard to ECN accounts. Each of this two major account type has subtypes with different features and requirements. It is best to read on the types of account offered by FXTM before choosing anyone. The Cent account which is a subtype of the Standard account is best for newbies.

Screenshot of FXTM account types:

 

Best forex broker-2017

Other Features

Apart from standard Forex pairs, FXTM also offers trading for variety of products such as  CFDs , ETFs and spot metals. FXTM recently expanded its currency pairs store to include currencies like the Chinese Yuan, as well as additional opportunities to trade spot metals paired with major currencies.

The Multi Account Manager (MAM) feature offers a unique solution for professional traders who need to manage multiple accounts both simultaneously and efficiently.

Also, FXTM has launched  the PAMM program. PAMM , is a form of pooled money forex trading. An investor gets to allocate his or her money in desired proportion to the qualified trader(s)/money manager(s) of his or her choice. Through this, FXTM offers investors the ability to trade with the aid of seasoned forex traders in charge of their deposited funds and trading portfolio while maximizing their time in doing something else outside trading. The investments are managed by the FXTM Portfolio Management Department where experts with the necessary experience and expertise are available to help traders maximize their returns. Portfolios are chosen through a selection of carefully evaluated traders with consistently successful trading strategies.

You can become a PAMM INVESTOR in 6 easy steps

#1: Open an Account with FXTM (Please note that you must wait for approval by FXTM before proceeding to the next step)

#2: Login to the MyFXTM section and click on the “For Investors” icon and then click PAMM Program for Investors.

#3: Take the suitability test to discover your investment profile

#4: Wait for approval

#5: Deposit funds in EUR or USD

#6: The PMD will then invest your money in the appropriate portfolio or create a custom one according to your needs.

For a more detailed step by step registration, click here.

 

FXTM payment and withdrawal method

FXTM offers various payment and withdrawal methods all in a bid to ensure convenience for the traders. These methods includes local bank wire transfer, credit cards such as Visa, Master card, Maestro and China union pay and E- wallets such as Neteller, Skrill, Moneybookers, Alfa-Click, WebMoney, Payza, Yandex, QIWI, OKPay, CashU etc.

 

Trading platform

FXTM boasts of a unique user friendly platform which includes the Meta trader 4 and Meta trader 5. Also useful trading tools like signal providers and MT4 indicators are component features of the FXTM trading system. All these are geared at making forex trading experience very profitable and worthwhile for their traders. In addition some of the accounts on these platforms support hedging and scalping, all which are beneficial forex trading strategies.

Bonus Offer:

FXTM is not only interested in acquiring customers but in also making them happy. They achieve this through the organization of bonus packages and promotions from time to time. The ongoing bonus package at the time of writing this article is $25 for every minimum deposit of $300. So keep yourself informed.

 

Educational materials

In the area of education, FXTM has a rich collection of tutorials and webinars which it provides its clients in order to enhance their trading experience . These tutorials cover the basics of Forex as well as more advanced topics such as risk management and technical analysis.

Also, Live webinars are presented from time to time by industry experts and cover a range of subjects such as Japanese Candlesticks and more. This rich library of educational materials in form of tutorials and webinars is what makes FXTM one of the best forex broker for beginners.

FXTM also supports seminars and workshops by third-parties that facilitate easy access to the Forex opportunities in countries across the world. These seminar sessions and events are held throughout the year.  Like the seminar that was recently organized in Abuja, Nigeria.
In addition to their educational materials, they also provide a wide range of trading tools such as calculators—currency, margin, pip, and profit to make trading easy. Their economic calendar is detailed and up-to-date and traders can receive live market news from one of the world’s most reliable sources directly on their MetaTrader trading platform and through their website.

 

Summary

Website: Fxtm.com
Founded: 2011
Regulatory body: CySEC, FSB, FCA
Platform: MT4 and MT5 platforms for web and mobile trading
Sign up bonus: $25 bonus for every $300 deposit
Leverage: 1000:1
Web trading: Yes
Mobile trading: Yes
Withdrawal fees: No
Email: support@forextime.com

PROS

  • User Friendly
  • Best forex broker for beginners
  • Minimum deposit of $200
  • Well regulated broker
  • Spreads from zero pips
  • Ultra-fast market executions
  • Unlimited educational materials
  • Demo trading
  • Bonus offers

CONS

Traders from US, Japan, Quebec, British Columbia and Saskatchewan are not accepted by FXTM.