|Broker Reputation & Customer Satisfaction|
|Selection of Trading Instruments (Forex, Shares, Indices, Crypto)|
|Trading Platform (Web Trader & MetaTrader 4/5)|
|Direct Market Access Via ECN|
|Regulation & Investor Protection|
|Spread & Leverage|
|Customer Service & Support|
FXTM is simply one of the best and most reputable CFD Forex brokers who really care about offering their clients the best market conditions to trade in. A great set of trading platforms including MT4, MT5, and their own FXTM Invest Platform combined with a choice of Instant Execution or ECN Exchange execution, mean FXTM is one of the best companies operating today.
FXTM launched in 2011 and quickly established itself as one of the most repected and trusted Forex CFD Brokers in the industry. Originally based in Cyprus, Europe, FXTM are focused on enabling the best execution, spreads and transparent access to the markets while using the best platforms around, MT4, MT5 and WebTrader. Offering a choice of Instant Execution or Electronic Communications Network (ECN) accounts also mean direct market access, lightning quick execution and no conflict of interest.
|FXTM Review Summary||Pro’s||Con’s|
|FPA Rating ★★★ (Good)||★ Instant Execution or ECN Execution||✘ No Cryptocurrencies|
|TrustPilot Rating ★★★★ (Great)||★ Choice of Spread or Commission||✘ No Bonds or EFT’s|
|TrustPilot Score 85%||★ MT4, MT5 & FXTM Trader App Platforms|
|Open An Account||★ Copy Trading with FXTM Invest|
|★ Highly Trusted Broker|
Broker Ratings & Reputation
Trusting the broker you are using is critical. You need to be sure that the broker is reputable, efficiently run and well regulated. To be able to assess the quality of a broker we have chosen to use two sources of ratings, because some brokers may be unfairly discriminated against on one rating website, and have great reviews on another website. We have chosen what we believe to be the best to sources for impartial customer ratings. Firstly we use Trustpilot, it is a well established independent website where customers can rate brokers. Secondly, we use ForexPeaceArmy (FPA) which is a very well run community-driven rating site focused on fairness. One of the issues with review sites is that sometimes unhappy customers form the majority of reviews as they are an outlet for complaints, the happy customers feel no need to review the service as they are content.
FXTM scores extremely well on the FPA rating website, with 3 stars good, which is a high rating. On Trustpilot, 85% of the reviewers rate the service as average or better, and 78% of reviewers rate the broker as great or excellent. FXTM is held in great esteem and has very happy customers.
Types Of Accounts Available At FXTM
|FXTM Accounts||Standard Account||Cent Account||Shares Account||ECN Account||ECN Zero Account||FXTM Pro Account|
|Minimum deposit||$/€/£ 100||$/€/£ 5||$/€/£ 100||$/€/£ 500||$/€/£ 200||$/€/£ 25 000|
|Order execution||Instant Execution||Instant Execution||Instant Execution||Market Execution||Market Execution||Market Execution|
|Limit & Stop Levels||1 spread||1 spread||1 spread||✘||✘||✘|
|Forex Majors, Minors, Exotics #||59||25||48||48||43|
|MT5: Forex Majors, Minors, Exotic||33||33||33|
|Minimum Volume in Lots per Trade||0.01||0.01||0.01||0.01||0.01||0.01|
|Maximum Volume in Lots per Trade||30||112||10||100||100||250|
|Maximum Number of Orders||100||300||100||Unlimited||Unlimited||Unlimited|
|Maximum Volume in Lots of Orders||200||1012||20||Unlimited||Unlimited||Unlimited|
|Maximum Number of Pending Orders||100||100||100||300||300||300|
Table 1: Service & Leverage Per Account -- FXTM (Big Benefits In Green)
I have highlighted the standout benefits in green in the table above. The reason FXTM is successful in this industry and has very happy clients is due to the tight spread and the choice of either a broker-dealer instant execution or ECN market exchange execution, I would recommend the accounts with ECN market execution (flagged in green).
As you can see FXTM are competitive across the board. The only decision you will need to make is the type of account you want. The Standard Account, Cent Account and Shares Accounts are all Instant Execution, which means FXTM act as the market maker, many Forex traders do not like this because it could create a conflict of interest with the broker and they take the other side of the trade. With a reputable broker like FXTM this should not be a problem. However FXTM have the solution because the ECN, ECN Zero and FXTM Pro account are all market execution, which means your order will be routed through to a huge pool of liquidity providers like hedge funds and investment banks. This is great for the trader because the broker is not taking the opposite side of your trade therefore not trading against you.
Other interesting points in the account structure is the Share Account, this is the one you need to go for is you want to access the 180+ U.S. share CFD’s.
Choose the account right for you, the basic accounts with lower minimum blances are all Instant Execution, ECN accounts start at $500 minimum balance.
FXTM -- Background & Services Video
Watch The Video Overview
FXTM offers a huge selection of up to 56 foreign exchange (Forex or Fx) pairs for trading, this is one of the biggest selection of all brokers. All the common pairs such as EUR/USD and EUR/GBP are covered, plus they have a great selection of exotic pairs such as USD/PLN (US Dollar/Polish Zloty). Leverage is available up to 30:1 for retail accounts.
Trading Crypto is hot right now, and FXTM surprisingly do not offer cryptocurrency trading. This could be due to the fact that Crypto is difficult to manage in terms of the psychotic nature of the instrument. Volatility and a major wipeout in the value of the Crypto’s means, if you enable it on your exchange, many traders will lose and they will blame you as the brokers. I see margins on crypto’s being slashed dramatically by all brokers at the moment because the risk to the traders and brokers is just too high.
The FXTM Share account is the one to select if you want to trade shares, but even with this account, you are severely limited in what you can trade. 148 U.S. share CFD’s are available and zero ETF’s, but the competition offers a much larger selection, with Alvexo offering 400+ and Admiral Markets with 4000+ share CFD’s.
For those interested in commodities, there are 8 to choose from, which gives you enough to trade if your focus is on commodity futures. The usual commodities like Silver, Gold, Brent, Crude and Natural Gas. Surprisingly no Coffee, Corn, Wheat, Copper, Sugar or Orange Juice are available.
Brokers Trading Platform
FXTM aims to keep it simple and straight forward when it comes to choice of tools, you have the choice of FXTM MetaTrader 4 or MetaTrader 5. Of course, whichever desktop software you choose, you will still be able to trade from your tablet and smartphone. The MetaTrader 4 App has a 4-star rating on the Play store and in the Apple store 4.5-stars, which means you will get a great mobile trading experience. Ultimately you know you will be getting a solid and seamless experience however and wherever you choose to trade.
FXTM Web Trader For MT4 & MT5
You can use the FXTM Web Trader platform which is easy to use yet very powerful, this will give most retail investors what they need with a minimal investment in training and no installation required. Simple “one click to trade” enables you to execute the trade quickly. You have all order types available, so there is no pairing back of functionality with the online tool. Naturally, you get streaming real-time quotes, but the best thing is that the orders are processed using Straight Through Processing (STP) which means the order goes straight to the top tier liquidity providers to optimize order (Bid/Spread) pricing and execution.+
If you want to operate an ECN account with direct market access you can utilize the best, MetaTrader 4 or 5. MetaTrader will open up a world of automated trading and real-time streaming of news and events, it may take some time to work on your learning curve but it will be well worth it. The ECN is worth its weight in gold because you trade directly in a pool with other traders without the middle man or Market Maker, this is how you get spreads close to 0.0, but instead, there is a transaction fee commission on the trade due to the costs of operating the ECN. The ECN is not operated by FXTM.
There are Zero costs associated with using the platforms available.
Powerful Signals & Research For Clients
FXTM provides email and video trading signals and analysis direct to clients, focusing on specific high probability setups. FXTM also pride themselves on enabling cutting edge education for their clients. Their various youtube channels host thousands of educational and market update videos and their own private channels for registered clients provide daily briefings. Supporting the customers to be successful is a primary concern for FXTM. They also have a secure real-time messaging system on telegram for clients.
Copy Trading With FXTM
FXTM are doing something different to the competition with their Copy Trading Service. You can easily register for FXTM Invest and can follow other successful traders after reviewing their track record. The idea is that you can follow those successful traders and minimize your time spend in front of your desk trading. Few of their competitors offer this service.
FXTM Invest -- Copy Trading Video
Watch The Video Overview
Company Background & Legislation
FXTM was established in 2011 in Cyprus Europe. They have offices in the UK, Cyprus & Belize. The holding company is FT Global Limited a privately held company supervised and regulated by the UK FSA, Cyprus CySec and the FSC Belize. The research concludes there have been no violations of regulations in any of the jurisdictions.
Account Funding & Investor Protection
Opening a demo account is free, but to start trading you will need a minimum balance of $5 for retail accounts and $500 for a premium account. Minimum balances seem to be important to some people, but from my perspective, if you cannot afford $500, you probably should not be attempting to trade CFD’s.
FXTM do not offer negative balance protection for accounts. They do act as the Market Maker for their basic accounts, but for the ECN accounts they are routing your trades through various liquidity providers on the Electronic Communications Network (ECN) which connects all the globals banks and major funds, this has benefits to the trader because you are getting the absolute best bid and ask price spread.
Finally, as per regulatory requirements, FXTM operates segregated accounts, meaning that your cash account is segregated from the accessible funds available to FXTM, simply meaning, they cannot use your funds to trade their own account. Also, there is insolvency compensation of up to 20,000 EUR in accordance with regulations.
Customer Support & Satisfaction
Customer support is available on a 24/5 basis offering call-in numbers across the globe. You can also see from their 27,000 twitter followers there are few complaints about the service.
Review Summary FXTM
FXTM is simply one of the best and most reputable CFD Forex brokers who really care about offering their clients the best market conditions to trade in. A great set of trading platforms including MT4, MT5, and their own FXTM Invest Platform combined with a choice of Instant Execution or ECN Exchange execution, mean FXTM is one of the best companies operating today. A good reputation is important in this industry and ForexTime have it, a respectable regulated company offering a great platform and a suite of signals, alerts and market updates to help their clients be profitable.Detailed FXTM Service Data Sheet
CFD Risk Notice ESMA & FCA Risk Warning - "CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74% and 89% of retail investor accounts may lose money when trading CFDs with any provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk"We thoroughly background check the brokers we recommend and only list reputable trustworthy companies. Read our tips to perform your own background checks, and test a broker after you sign up. You can perform your own check easilly. LiberatedStockTrader.com accepts no responsibility for your experience with any broker.
Frequently Asked Questions About CFD Brokers
How do I find a trustworthy CFD Broker?
There are thousands of brokers offering Contracts for Difference Brokerage Services. CFD’s differ from buying or selling regular stocks or foreign exchange because you do not actually own the underlying stock or currency. Instead, you own a contract for that instrument which should closely represent the underlying asset’s value. We recommend you check ratings on Trustpilot, it is a well established independent website where customers can rate brokers. Secondly, you can use ForexPeaceArmy (FPA) which is a very well run community-driven rating site focused on fairness.
Why are CFD’s not available in the USA?
CFD’s are not allowed in the U.S.A., Canada, and India, due to the fact they do not represent trading or exchange of the actual asset. They are forbidden under the Securities and Exchange Commission regulations. CFD trading is huge in Europe and Asia, where it is completely legal and regulated.
Why do people complain about not being able to get their funds back from CFD Brokers?
One of the issues with review sites is that sometimes unhappy customers form the majority of reviews as the websites are an outlet for complaints, the happy customers feel no need to review the service as they are content.
Due to money laundering legislation and anti-terrorism laws, all financial institutions are not allowed to return money to a bank account that did not send the money in the first place. This means you cannot fund your account from bank A and expect your funds to be returned to bank B. Many traders do not realize this, and when the brokers need to investigate the potentially fraudulent request, the delays make the customers angry, this is typically not the fault of the reputable broker. That is not to say all brokers are reputable.
What kinds of Fraud Activities are in the CFD Industry?
Many brokers act as market makers for their clients, meaning they provide the liquidity upon which you trade. An unscrupulous broker might manipulate the market prices to benefit themselves. Tactics like not executing trades, or executing trades at different prices to the ones on the quote screen for example. This is why reputation is everything in this industry.