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FXTM started offering trading service since 2011 in Cyprus and eversince branded FXTM as a well known international trusted online broker with focus on FX Forex, stock index and CFD brokerage services.
FXTM is well regulated in majority of jurisdictions:
Even though FXTM is not publicly listed on any stock exchange, FXTM maintains a safe reputation as a safe broker since it is regulated by top-tier financial authoritiesThe portfolio of products and services that FXTM offers are mainly around Forex, CFD, Crypto. We have analysed over 31 Tier-1 online brokers & online trading paltforms, and rated FXTM as an option for:
You can also find other options and review the best forex brokers or glance through our list of best CFD brokers that our editorial team has reviewed this month, alongside other online brokers.
To put is simply, FXTM offers CFD FX and Crypto, and you can use their online trading platform in all 3 forms of web trading, mobile and desktop (the platform is not custom-build like IG, and eToro). on the other hand, it offers charting features with decent customization capability.
A good side of the fact is their awesome customer support and lots of educational materials that makes it one of the best online broker for beginners. Unfortunately most of the time, there is a fee for withdrawal.
If you wish to see other options, you can easily compare FXTM alternative or keep on reading.
£85,000 in UK & €20,000 in EU
YES, Cyprus, UK, Mauritius
Live Chat, Email
CFD, Crypto, Forex
Online Trading Platform: Mobile, Web
4.25 / 5
Deposit & Withdrawal Type:
Bank Transfer, Credit/Debit card, Electronic wallets
There are Pros and Cons here too.
The fees for S&P 500 CFD, Europe 50 CFD, EUR USD are built into spread.
✓ For S&P 500 CFD the fee is 1.4 average spread cost, which is considered to be low.
✓ For Europe 50 CFD the fee is 3.3 average spread cost, which is considered to be low.
✕ For EURUSD the fee is 0.6 pips average spread cost, which is considered to be almost high.
✕ $5 per month after 3 months of inactivity is what FXTM charges which is also considered pretty much high.
Some other positive points are:
Low Trading fee and free Deposit
Multiple base currencies
Very good Customer support
Regulated in many countries
Inactivity Fee & Withdrawal fee
High stock CFD fees
Limited offers and portfolio
High Min Deposit
Thats not all the fees
As you can see in the table above we ranked FXTM fees (in the table in 3 different categories: from low, average to high) compare to 2 other similar competitors and brokers: XM and XTB.
Well, you need to keep an eye on broker fees such as trading fees and non-trading fees too.
Trading fees are very easy to understand. Those fees are there only when you trade anything.
Trading fees come in formes of:
Now it's time for Non-trading fees
These charges are not 100% related to what you trade. You have seen them in the table above. they are fees such as withdrawal and inactivity fees.
Best Low fees stock index broker
FXTM, which is primarily known as a FX & CFD broker offers low rate stock index CFD trading offers. You can not change the leverage if you are from EU countries.
Let's deep dive and have a look at FXTM's fees for only forex and CFD fees. we will also run a comparison table with two big brokers to show you the difference.
The Scenario is running this way: A typical trade, it means buying a leveraged position, holding it for 7 days and only sell after that period.
* Volume: a $2,000 position for the stock Index
* Volume: a $2,000 position for CFD
* Volume: $20,000 for the forex transactions.
The leverage in this scenarios is:
• 20:1 stock index CFDs
• 5:1 CFD
• 30:1 forex
Here is the tabular view of FXTM's fees and side by side comparison with other 2 brokers.
S&P 500 index CFD fee
Europe 50 index CFD fee
Apple CFD fee
One good thing about FXTM is that it operates in majority of countries with the minimum deposit of $500.
At FXTM, you can choose from these base currencies: USD, EUR, GBP, NGN
To start trading FXTM does not charge any deposit fees, but you ought to remember that in order to deposit money you have to use funding sources that are in your own name. If you are ready to trade, go ahead and use the live account, If not, they offers a demo account to practice.
Even though it offers all 3 trading platforms(Web trading platform, Desktop trading and Mobile trading Apps), the UI and user-friendliness is fair (in terms of design) . On ontrary, since they use MetaTrader, it enables you to fully customize your reports and use it in different languages and make this broker a good place for those who are familiar with metatrater.
The UI & UX of FXTM trading platform is unique and neat. At a glance it looks like this:
You should not be worried if English is not your strength, because FXTM trading platform is powered by: MetaTrader 4, MetaTrader 5, AvaOptions, and WebTrader and it supports the following languages:
Arabic Bulgarian Chinese Croatian Czech Danish
Dutch, Estonian Finnish French German
Greek Hebrew Hindi Hungarian Indonesian Italian
Japanese Korean Latvian Lithuanian Malay Mongolian
Persian Polish Portuguese Romanian Russian Serbian
Slovak Slovenian Spanish Swedish Tajik Thai
Traditional Chinese Turkish Ukrainian Uzbek Vietnamese and of course English.
When it comes to trading, customer service plays a good role.
Overall, FXTM customer support team respond fast via email, Phone calls, and live chat but they have yet to establish a 24/7 support process (So don't count on week ends). This brokerage have a live chat and offer help in English and the good thing about it is short time queues.
The options that are available to you at FXTM are:
The number of rForex offers that have is generously more than the rest. When you buy with no leverage (leverage=1) you buy real stocks and not contract for difference. That's why Non-leveraged buy positions for equities, ETFs and cryptocurrencies (digital currency) are traded as real assets. (Be aware of the risks of price movements / we have no info at this moment about fiat currencies)
All other positions are kind of contract for difference (this applies to cfd traders). An example could be leveraged buy positions and all sell positions of stocks, ETFs and cryptos as well as all forex, commodities and indices positions.
Tip: If you try FXTM alternatives, it's necessary to know that Changing the leverage manually is a very useful feature when you want to lower the risk of a trade. For instance, rather than trading with X:1 leverage (x higher than Y), only trade with Y:1 leverage for stock CFDs. Please be reminded that forex FX and CFD trading default leverages are high, don't gamble.
Stock index CFDs:
2 (NYSE, NASDAQ.)
Popular Online Brokers
At first let's have a look at the 6 types of accounts that are available at FXTM. By the way, Except UK, you can also invest on social trading services.
The accounts are:
The commission for ECN accounts is lower if you hold a higher balance in your account or in case you trade more.
You can expect a very easy, smooth and professional process to open your account with FXTM. All you need is an email or a social platform login
You don't want to wast time, so do they. therefore, you will get your account opened in 1 day. You can immediately use your demo account.
However, if you decide to move forward as a trader and work with real money and real shares or trades, get ready to provide your passport or ID along with proof of residency (something like a utility bill or bank statement). Well, its more than easy to place an order and you will be guided throughout the process.
As you can see in the image below, you will be prompted with easy to use wizard for getting onboard with FXTM.
Tip about away times:
You can not set alerts and notifications on FXTM platforms (Except Web platform)
No matter you use desktop, web or mobile for your trading, you can get different kind of notifications.Please bear in mind that no fundamental data is offered by FXTM but they provide trading ideas and trading signals based on some technical tools.
I will put it simply, whether you need a pie chart, or list of assets, you can easily generate it and track the performance of your portfolio in FXTM, It's kinda easy and you can see a clear profit/loss or commissions paid reports.
Alright, if you are looking a lot of materials to begin with, besides our blog at top 10 best which is a good resource to begin with since we have hundreds of pages and detailed reviews and tools, guides and articles (We do not offer investment advice and guarantees).
Research part of FXTM is fair. For instance you can use FXTM Pivot Points Strategy to determine price direction. They do offer decent news feeds too. When it comes to education it's pretty comprehensive. Not only you will get a demo account, you will also have access to in depth articles, and lots of videos (about platform and trading)
One advantage you get is having access to FXCM education portal. it provides you with around 200 articles and vides, plenty of educational tool.
Overall, FXTM is considered to be a safe, and regulated(in most markets). Their negative side is high CFD fees and charging withdrawal fee and inactivity fees. On the contrary, it offers low fee forex trading options. Maybe it does not have the best online trading platform but it you can trade using web, Mobile and desktop.
If you are ready to trade, just make sure you are aware of the risks. If not, it is a good platform to start with a demo account and then move to online trading, Remember, the minimum deposit is $500.
Seeing it helps you make informed decisions with confidence.
Reviewed by experts against 31 tier-1 online brokers this month.
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