Is FXTM Legit?
FXTM is a global forex broker offering access to more than 1000 instruments, including Currencies, Stocks, Indices, Commodities, and Share Baskets.
Multilingual customer support is available in several languages, tearing down barriers between traders and answering queries quickly and accurately. Deposits and withdrawals are processed through a variety of payment methods.
If you want to trade forex on CFDs, FXTM has some of the highest leverage available in the market. Its range of products includes 6 FX indices, five spot metals, three soft commodities, and 20 share CFDs.
You can choose from various trading accounts and deposit minimums for all experience levels. They offer a Micro version for beginners, an Advantage account for intermediate traders, and an Advantage Plus account for advanced-level traders.
In addition to forex, you can trade CFDs on shares, energy, and spot metals with spreads starting at 0.1 pips and leverage varying according to experience. The broker also offers a demo account with virtual money to test your strategies and expert advisors without risking natural capital.
FXTM is a regulated broker and adheres to a strict duty of care protocols for its clients. The company requires new clients to complete a KYC questionnaire and submit documents demonstrating their trading knowledge and experience.
FXTM offers a wide range of trading instruments. These include forex, CFDs on indices, commodities, stocks, and cryptocurrencies.
Leverage is not automatically agreed, so it’s essential to consider your risk profile before opening an account. Additionally, power can increase the risk of losing money.
ESMA margin capping limits leverage opportunities on EU forex pairs to 1:30 and global forex pairs to 1:20. This is a high power level, especially for new traders.
FXTM is regulated by several regulatory bodies, including the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CYSEC), and the South African Financial Services Commission (FSCA). The broker also uses mandatory segregated accounts for its clients and holds mandated protection funds for their capital.
The FXTM customer support team is in eight countries worldwide, including Mauritius (the main headquarters), China, India, Indonesia, Malaysia, and Nigeria. They offer many communication methods, including live chat, phone, email, and social media.
A top-notch customer support team is a significant plus for any forex broker since it can help you avoid the pitfalls associated with trading. The company also has an extensive library of educational content in e-books, webinars, glossaries, beginner’s guides, and trading strategies.
The FXTM customer support team offers multilingual service backed up by a group of personal account managers who can answer your most pressing questions in record time. The best part about the service is that they are always available to help you. The company’s customer support staff has a wide range of trading expertise and can help you find the perfect fit for your needs. In addition, the company is well-positioned to make your trading experience a breeze by offering fast, secure, and convenient deposit and withdrawal methods.
The FXTM trading platform offers traders a wide range of accounts and several deposit and withdrawal methods. It also has a wealth of research, analysis, and current news.
Traders can get daily market updates through the Forex News Timeline, which features economical and market news from FX Street. They can also set up SMS alerts for critical events.
It also has a dedicated Daily Market Analysis page that features several articles written by the experts at ForexTime. They include a Brexit countdown and guide, as well as the Daily Economic Calendar.
The platform also offers to trade on spot metals such as gold and silver. These trades can be traded 24/5 with tight spreads of 0.1 pips and leverage varying based on your experience.
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