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FXTM: Fees, Pros and Cons and Features

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The forex and CFD market is a competitive place, with a vast range of brokers offering competitive terms and conditions. You won’t have a profitable trading experience if you are not careful when choosing your forex broker.

The FXTM brand was launched in 2011 and since then has managed to surpasses 1,000,000 registered accounts and gain the authorization to operate in different part of the world. The broker has won many awards in forex trading including the best trading conditions, most innovative broker, and best forex broker in Russia. 

We have put it to the test by testing their platform, pros, cons, etc. Read our full review to find out all you need to know about this broker.

Is FXTM recommended?

We would certainly recommend FXTM as a great trading platform for all levels of users.

The broker is one of the most well-known forex and CFD brokers in the industry, offering traders a reliable and safe trading environment with top regulation around the world, top class trading platforms and advanced trading features. 

What is FXTM?

FXTM, also know as Forex Time, was founded in 2011 by Andrey Dashin which is also the founder of Alpari. Even though Forex Time is a newcomer in the forex industry, the broker has managed to win an excellent reputation among its users and is one of the fastest growing forex and CFD brokers across the globe.

FXTM offers CFD and forex trading through one of its offered trading platforms – the MetaTrader 4, MetaTrader 5 and Web Trader. The broker offers to connect traders based on the market maker model as well as the ECN model which uses electronic communications networks to provides traders the best quotes and prices and removes the conflict of interest.

FXTM has three brands under the FXTM brand: Forextime Ltd, Forextime UK Ltd and Exinity Limited. All of FXTM entities are regulated and licensed in different regions of the world. Those include the Financial Services Commission of Mauritius (FSC), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Conduct Authority (FCA).

FXTM Markets and Products

Score: 8/10

Forex Time provides a limited selection of financial instruments compared to other brokers in the industry like IG. Overall, the broker offers traders a selection of more than 250 financial assets across seven markets.

  • Forex – 59 currency pairs.
  • Indices – 13 global indices. 
  • Spot CFDs – 14
  • CFD Shares – 180+ stocks
  • Commodities – 8 global commodities.
  • Stocks (shares)
  • Cryptocurrencies – 4 crypto coins. Bitcoin, Ethereum, Litecoin, and Ripple.

FXTM Special Features

Score: 9/10

Forex brokers compete for customers, offering a range of special features and trading tools. Compared to other brokers, AvaTrade offers unique additional features including automated trading, MetaTrader4 on Mac, and Autochartist plugin for MT4.

Automated Trading

Not all traders have the skills, ability, and discipline to trade financial markets. The solution can be automated trading which allows you to create a computer program that automatically sends orders to the market. Once you find a successful algorithm, following backtesting your strategy, you can operate an automatic program that creates a constant profit for you.

Automated trading can be done through a specific algorithm as well as an automated order system that allows copying other trader’s orders. AvaTrade offers DupliTrade and ZuluTrade in order to copy other experienced traders.

MetaTrader 4 on Mac

A few years ago it was almost impossible to trade the MT4 on Mac. Nowadays, some CFD brokers offer MT4 on Mac but you have to go through a long process, downloading programs, etc. AvaTrade provides traders an easy-to-use web-based MT4 platform which is available on Mac.

Autochartist plugin for MT4

Autochartist is an automated technical analysis plugin implemented on the MetaTrader 4 trading platform that identifies trading opportunities. Take note that the Autochartists is available free of charge for clients who deposit from as little as $500 USD.


Overall, AvaTrade provides traders a number of unique trading features and tools that improve the forex trading experience.

Supported Countries

Score: 9/10

FXTM accepts traders from all over the world with offices located in different regions and regulations in six different jurisdictions. Forex Time, however, does not accept traders from the following countries:

  • The United States
  • Mauritius
  • Japan
  • Alberta
  • British Columbia
  • Quebec
  • Saskatchewan
  • Haiti
  • Suriname
  • The Democratic Republic of Korea
  • Puerto Rico
  • The Occupied Area of Cyprus

Languages

Score: 9/10

FXTM supports its website in 18 languages, making the website accessible for all users around the world. Here are the languages supported by ForexTime:

  1. English
  2. Arabic
  3. Chinese
  4. Chinese (Hong Kong)
  5. Czech
  6. French
  7. Hindi
  8. Indonesian
  9. Polish
  10. Spanish
  11. Italian
  12. Persian
  13. Malay
  14. Korean
  15. Russian
  16. Thai
  17. Urdu
  18. Vietnamese

FXTM Trading Platforms

Score: 7/10

FXTM keeps it simple when it comes to trading platform. The broker offer the most popular, user friendly, and advanced trading platforms – the MetaTrader 4 and the MetaTrader5. FXTM makes sure to offer the platform on all devices and softwares including the MT4 and the MT4 as a web based trading platform.

In addition to the MT4 and MT5, FXTM is also offering its in house FXTM trading app –  the Trader App.

MetaTrader4

The MetaTrade 4 is the most popular trading platform designed specifically for CFD and forex trading. The MT4 is fast, easy to use and provide all the necessary tools to operate a profitable trading account. With an advanced charting package, safe connection, and the Expert Advisor that allows you to automate you trading, the MT4 is still one of the best platform in the market. As you can see, FXTM is offering the MT4 on all devices (PC, tablet, and mobile) and softwares including for Mac users.

FXTM MT4

MetaTrader 5

FXTM also offers the evolution version of MT4, the MetaTrader5. Similarly to the MT4, the MT5 is available on all devices including for Mac users.

FXTM MT5

The MT5 has several advantage compared to the MT4 including trading signals, extensive range of order types and level 2 data.

The broker presents a useful comparison table in its website of the key differences between the MT4 and the MT5:

FXTM MT4 vs MT5

FXTM Trader App

With the increasing demand for trading apps, FXTM developed and releases its new in-house trading app, the Trader App. The Application has a nice looking interface and easy to use functionality. FXTM app is available for iOS and Android on the App Store and Google Play.

FXTM Trader App

One of the FXTM Trader App features is the MyFXTM that allows traders an unlimited access to MyFXTM, which includes deposit, withdraw and monitor your funds in seconds

Fees and Limits

Score: 8/10

Trading and Non-Trading Fees

???? Rollover/Overnight fees – AvaTrade charges overnight/rollover (swaps) fees for FX and CFDs at the end of the trading day. 

???? Inactivity fee – AvaTrade charges an inactivity fee of 50 USD/GBP/EUR after 3 consecutive months of non-use.

???? Administration fee – AvaTrade charges administration fee of 100 USD/GBP/EUR after 12 consecutive months of non-use.

Deposit and Withdrawal fees

AvaTrade does not charge any deposit and withdrawal fees, however, there is a minimum amount required in order to withdraw your funds.

Spreads

AvaTrade offers competitive spreads compared to other brokers in the industry and allows traders to choose between fixed or variable/floating spreads. Here are some of the spreads offered by AvaTrade on major and minor currencies.

AvaTrade spreads


Take note that AvaTrade also offers a high leverage ratio compared to other forex brokers of 1:400 for currency pairs, 1:200 for commodities and indices, and 1:20 for cryptocurrencies.


Overall, AvaTrade is being transparent about its trading fees and does not charge any hidden fees besides inactivity fees. AvaTrade is a market maker which allows the broker the benefit to offer low fixed/variable spreads and the broker mentioned their goal to further reduce spreads.

Minimum Deposit

Score: 8/10

FXTM minimum deposit varies depending on the account types you choose. The lowest minimum deposit required is for the Cent account, which is 10 USD/EUR/GBP. For the Standard and the Shares (stocks) account, the minimum deposit is 100 USD/EUR/GBP. FXTM also offers ECN accounts: the minimum deposit for the ECN Zero account is 200 USD/EUR/GBP, for the ECN account is 500 USD/EUR/GBP and for the FXTM Pro account 25,000 USD/EUR/GBP.

Account Types

Score: 9/10

FXTM offers a vast range of account types, those are divided to the Standard accounts and the ECN accounts. You can find all the necessary information in the tables below:

Standard Accounts

Account type Standard Account Cent Account Shares Account
Trading Platforms MT4 / MT5 MetaTrader 4 MetaTrader 4
Account Currency USD / EUR / GBP / NGN 1 US Cent / EU Cent / GBP Pence / NGN kobo1 USD / EUR / GBP / NGN 1
Leverage / Margin requirements Floating from 1:1000 – 1:2512 Fixed15from 1:1000 – 1:25 (FX), 1:500 -1:25 (Spot Metals)12 Fixed leverage 1:10
Maximum deposit X X
Minimum deposit $/€/£ 100, ₦40,0001 $/€/£ 10 / ₦2 0001 $/€/£ 100, ₦40,0001
Commission X x x
Order execution Instant Execution Instant Execution Instant Execution
Spread From 1.3 3 From 1.53 From 0.13
Margin Call 40% 60% 40%
Stop Out 20% 40% 20%
Swap-Free MT4: V
MT5: X
V V
Limit & Stop Levels 1 spread 1 spread 1 spread
Pricing MT4:5 decimals for FX (3 on JPY pairs), 2 decimals for Spot Metals
MT5: 5 decimals for FX (3 on JPY pairs), 3 decimals for Spot Metals
5 decimals for FX (3 on JPY pairs), 2 decimals for Spot Metals 2 decimals
Trading Instruments MT4: Majors, Minors, Exotics4 – 59, Spot Metals – 5, Spot CFDs -14 13, 14, Crypto-Currencies – 4

MT5: Majors, Minors, Exotics4 – 33, Spot Metals – 2

Majors, Minors — 25
Spot Metals — 2
Share CFDs (180+)15
Contract specification
Minimum Volume in Lots per Trade 0.01 0.01 0.01
Step Lot 0.01 0.01 0.01
Maximum Volume in Lots per Trade 30 112 10
Maximum Number of Orders 100 300 100
Maximum Volume in Lots of Orders 200 1012 20
Maximum Number of Pending Orders 100 100 100

ECN Accounts

Account type ECN Account ECN Zero Account FXTM Pro Account
Trading Platforms MT4 / MT5 MT4 / MT5 MT4 / MT5
Account Currency USD / EUR / GBP / NGN 1 USD / EUR / GBP / NGN 1 USD / EUR / GBP / NGN 1
Leverage / Margin requirements Floating from 1:1000 – 1:25 10 Floating from 1:1000 – 1:25 11 Floating from 1:200- 1:2510
FXTM Invest MT4: NEW
MT5:
MT4: NEW
MT5:
Maximum deposit X X X
Minimum deposit $/€/£ 500, ₦80,0001 $/€/£ 200, ₦80 0001 $/€/£ 25 000, ₦5 000 000 5
Commission $2 per lot9 X
Order execution Market Execution6 Market Execution6 Market Execution6
Spread From 0.13 From 1.53 From 0 3,5
Margin Call 80% 80% 80%
Stop Out 50%2 50%2 50%2
Swap-Free MT4: V
MT5: X
MT4: V
MT5: X
MT4: V
MT5: X
Limit & Stop Levels X X
Pricing MT4: 5 decimals for FX (3 on JPY pairs), 2 decimals for Spot Metals
MT5: 5 decimals for FX (3 on JPY pairs), 3 decimals for Spot Metals
MT4: 5 decimals for FX (3 on JPY pairs), 2 decimals for Spot Metals
MT5: 5 decimals for FX (3 on JPY pairs), 3 decimals for Spot Metals
MT4: 5 decimals for FX (3 on JPY pairs), 2 decimals for Spot Metals
MT5: 5 decimals for FX (3 on JPY pairs), 3 decimals for Spot Metals
Trading Instruments MT4: Majors, Minors, Exotics4 — 48
Spot Metals — 3
Spot CFDs — 147,8, 13MT5: Majors, Minors, Exotics — 33
Spot Metals — 2
MT4: Majors, Minors, Exotics4 — 48
Spot Metals — 3
Spot CFDs — 147,8,9MT5: Majors, Minors, Exotics5 — 33
Spot Metals — 2
MT4: Majors, Minors, Exotics4— 43
Spot Metals — 2MT5: Majors, Minors, Exotics — 33
Spot Metals — 2
Stock Trading – 1018
Contract specification
Minimum Volume in Lots per Trade 0.01 0.01 0.01
Step Lot 0.01 0.01 0.01
Maximum Volume in Lots per Trade 1008 1008 250
Maximum Number of Orders Unlimited Unlimited Unlimited
Maximum Volume in Lots of Orders Unlimited8 Unlimited8 Unlimited
Maximum Number of Pending Orders 300 300 300

Overall, FXTM offers an extensive selection of account types for all levels of trading experience including ECN accounts and a VIP account (FXTM Pro account). Note that FXTM also offers a demo account and an Islamic (swap-free), in compliance with the Sharia principles.

How to Sign Up and Trade on FXTM

Open a trading account with AvaTrade is a simple and quick process. Follow the next steps:

  1. Login to AvaTrade’ website and click the ‘Register Now’ button on the top right corner of the screen.
  2. Fill in the details, or sign up with your Google/Facebook account. AvaTrade Sign Up
  3. Then, you can log in to to the AvaTrade’s website as a user. Depending on your location, download your preferred platform. Note that you can use multiple trading platforms.
  4. Once you are ready, fund your account through one of the AvaTrade’s payment methods.
  5. Start trading.

How to Configure Your AvaTrade Account

AvaTrade offers five trading platforms – MetaTrade4, AvaTradeGo, AvaOptions, DupliTrade and ZuluTrade. The broker provides a demo account before you risk real money.

AvaTradeGo

The AvaTradeGo is a user-friendly mobile application available on Google Play and App Store. Once you download the app, you can register for an account an sign in with your login details.

The AvaTradeGo provides unique features that you should know of – The market trends that allows you to see top gainers and losers in financial markets in your chosen timeframe, and the AvaTrade community sentiment that allows you to view other traders positions.

Meta Trader 4

MetaTrader 4 is one of the most popular and easy to use forex and CFD trading platforms. We remind you that AvaTrade provides MT4 as a desktop and web-based platform, including for those who use Mac.

After you download the platform or launch the web-based platform, you can see the MarketWatch (instruments quotes), trading charts and the terminal (positions, orders, account balance). Setting up MT4 is a simple process – You can organize the MarketWatch based on your preferences and open a number of trading charts with more than 80 technical indicators.

AvaTARSDE mt4

AvaOptions

AvaOptions is a trading platform designed for options trading available as a mobile app (on Google Play only) and as a desktop trading platform. Although the mobile app is advanced and easy to use, we recommend day traders using the desktop version. The AvaOption allows you to view all the available option based on the financial asset and the expiration date.

In addition, The AvaOptions has a live FX options pricing widget that can help you estimate your strategy based on the Black-Scholes model.

Security and Regulation

Score: 8/10

Regulation

To ensure the safety traders and investors, FXTM is regulated by several top regulators in different jurisdictions.

  • Exinity Limited is regulated by the Financial Services Commission (FSC) of Mauritius, with an Investment Dealer License number C113012295.
  • Forextime Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC), licence number: 185/12.
  • ForexTime UK Limited is regulated by the Financial Conduct Authority (FCA), licnese number 10599136.

Security

Forex and CFD brokers must take seriously security measurements. AvaTrade does not disparage security measurement and the safety of customer funds. Among some of the AvaTrade security measurements: Funds are being held in a segregated account from AvaTrade business funds, Ava uses McAfee Secure (HackerSafe) to prevent credit card fraud and identity theft, 256-bit SSL encryption across the entire website, Embedded True-Site identity assurance seal.

Deposit and Withdrawal Process

Score: 8/10

AvaTrade does not charge a deposit and withdrawal fee and has set an initial deposit requirement of $100 USD, €100 EUR, £100 GBP and $100 AUD.

Deposit

AvaTrade takes seriously frauds and the safety of funds, requiring new traders a verification of their payment method. The broker offers a variety of payment methods:

  • Credit/Debit card
  • Bank wire transfer
  • Skrill
  • Webmoney
  • Neteller

Withdrawal

AvaTrade does not charge a withdrawal fee, and the withdrawal process can take up to 8 working days. Withdrawal can be made through the same payment methods used for the initial deposit.


Education and Resources

Score: 9/10

FXTM provides a great educational section for all trading levels on its website. The broker provides Ebooks, trading webinars and seminars, forex glossary, a beginner guide to forex trading, forex trading strategies, short forex educational videos, education videos and articles, and a practical periodic table.

FXTM Education

The broker also offers a section of daily market analysis which includes the economic calendar, market analysis videos, and quarterly market outlook.

☎️Customer Service

Score: 10/10

FXTM takes customer support to a different level, especially compared to other brokers in the industry. The broker offers live chat through the website live chat, Telegram, Viber, Messenger and call back option.

FXTM Customer Support

Traders can also contact FXTM via email and phone in a range of languages. The broker offer phone numbers in the following locations: United Kingdom, China, India, Indonesia, Malaysia, Nigeria  (Abuja ad Lagos), South Korea and Thailand.

????Mobile App

Score: 9/10

FXTM acknowledges the increasing demand for trading application and recently launched its in house FXTM Trader App. The application applies lightning-fast mobile trading with more than 250 instruments to trade on.

In addition to the FXTM Trader App, the broker offers mobile application for the MetaTrader 4 and the MetaTrader 5 available on iOS and Android.

Pros and Cons

Pros

  • Good customer service
  • A selection of 5 trading platforms
  • Offers MetaTrader 4 including an automated trading and additional trading features
  • Highly regulated
  • No deposit and withdrawal fees
  • Support in 22 languages
  • Offers the AvaOptions, a trading platform for options trading
  • Offers high leverage ratio of 1:400

Cons

  • High inactivity fees
  • Limited selection of account types
  • Customer support is not available 24/7
  • Not available for US residents

Conclusion

AvaTrade was founded in 2006 and since then the company has built a positive reputation among users as well as in the industry. The broker offers a variety of financial assets and markets, a selection of five trading platforms, and special features like Autochartist, automated trading, and social/copy trading. AvaTrade is also regulated by top-regulators around the world including the Central Bank of Ireland, Australian Securities & Investments Commission, British Virgin Island Services Commission, Financial Services Agency and Financial Futures Association of Japan, and South African Financial Sector Conduct Authority.

Following our in-depth review, we highly recommend our users to choose AvaTrade as your forex and CFD broker.

FAQs

What is the leverage ratio offered by FXTM?

FXTM leverage ratio varies depending on the account type, the market, and the instrument. The broker offers one of the highest leverage ratios in the market of 1:1000 for the Standard, Cent, ECN, and ECN Zero trading accounts. The shares (stocks account) has a fixed leverage of 1:10.

What is the minimum deposit to open a forex/CFD account at FXTM?

FXTM has set a minimum deposit for each type of account. The lowest minimum deposit requirement is 10 USD/EUR/GBP for the Cent account. The minimum deposit requirement for the Standard and shares account is 100 USD/EUR/GBP and for the ECN Zero account is 200 USD/EUR/GBP.

Is FXTM a regulated broker?

Yes, FXTM is regulated by by the Financial Services Commission (FSC) of Mauritius, with an Investment Dealer License number C113012295, the Cyprus Securities and Exchange Commission (CySEC), licence number: 185/12, and the Financial Conduct Authority (FCA), licnese number 10599136.

FXTM - Is it a scam broker?

No. Founded in 2011, FXTM has gained the necessary regulations and security measurements to provide a reliable and safe trading environment.

Can I use Automated Trading with FXTM?

Yes, FXTM allows traders to use automated trading via the MetaTrader 4 and the MetaTrader 5. The MetaTrader automated (algorithmic) trading is one of the best automation features in the forex and CFD market allowing you to develop, test and apply your trading strategy.

Is FXTM available in the US?

No, FXTM does not offer its services to residents of the United States as the broker is not regulated by the Commodity Futures Trading Commission (CFTC) or the U.S. Securities and Exchange Commission (SEC).

Does FXTM support MetaTrader4?

Yes, FXTM supports MetaTrader 4, as well as the MetaTrader 5, available on all devices (PC, tablet and mobile)

Remember, all trading carries risk. Past performance is no guarantee of future results.
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