Both brokers offer MT4 mobile apps for iOS devices (iPhone, iPad) and Android devices (smartphones, tablets) while ensuring greater trading flexibility for clients. They advertise almost no spread for Advantage fxtm forex broker review account with fees but give you 2pip spread and blame it on external quote. I am moving to XTB, and if you’re serious about trading and making money without headache I’ll advice you to leave this platform.
Product Offering
Both brokerages offer professional customer support services through several popular channels. First of all, 24/5 support via live chat is available with both brokers. FXTM also offers other chat options such as WhatsApp, Viber, Telegram and Facebook Messenger. We were left with some positive impressions by the live chat option at both brokers, as we obtained useful information on the matters we asked about. Overall, FXTM offers more CFD instruments, but FXCM covers more asset classes and has unique baskets that give you exposure to specific sectors. On the other hand, FXTM clients can get access to a wider selection of FX pairs and more stocks to trade.
Embark on Your Trading Adventure with the Right Account
The cost of commissions is based on a tiered system that considers trading volume, ranging between $0.40 to $2 per trade. With increased technical complexity, MetaTrader 5 surpasses its predecessor in capabilities. FXTM users who utilize MT5 gain access to additional periods, indicators, and advanced charting tools ideal for conducting comprehensive market research. Therefore, it is a valuable instructional tool that assists novices entering these markets in gaining the practical experience needed before confidently venturing into full-scale trading activities.
- Out of all the accounts FXTM offer, this would most likely be the preferred choice for professional traders, institutional traders and hedge fund managers.
- FXTM currently offers 10 different account types, including FXTM Standard, FXTM Standard MT5, FXTM Cent, FXTM Pro, FXTM ECN, FXTM ECN Zero MT5, FXTM ECN MT5, FXTM ECN Zero, FXTM Pro MT5, and FXTM Shares Account.
- In some cases, their spreads are even lower than the industry average.
- For example, FXTM offers a selection of free eBooks that cover topics such as 50 Successful Traders’ Habits, Elliott Wave Theory, Bitcoin trading, and Bullish and Bearish Candlestick Patterns.
Tie: Lowest Spreads And Fees
Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Yes, FXTM is regarded as a safe broker, having been licensed by numerous respectable financial regulators, including CySEC and the FCA, to ensure high levels of security and fairness. Withdrawal times at FXTM vary depending on the method used; e-wallet withdrawals are often handled within 24 hours. Margin serves as collateral for open trades, representing only a fraction of the total deal value, which varies depending on account type, traded instruments, and market conditions. The current interbank pricing determines the rates used in converting currencies. Therefore, traders must be well-informed about such fees to manage trading expenses effectively.
How do I download MetaTrader 4?
An added benefit of using MT4 Expert Advisors is that FXTM provides free VPS ( Virtual Private Server ) hosting services for clients using automated trading strategies. The benefit of using VPS is that it ensures a smooth and seamless environment for systems trading. Auto trading features are available at FXTM with the use of Expert Advisors within the MT4 platform. EAs allow traders to program and automate their strategies to run on the Metatrader platform.
Whether you’re just starting out as a forex trader or have been trading for years, FXTM can fit your needs and provide excellent forex brokerage services regardless of your level of expertise. You should not spend more than you can afford to lose and should ensure that you fully understand the risks involved. Before you use these products, please take into consideration your level of experience, financial objectives and seek independent advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FXTM brand based on the legal requirements in his/her country of residence. As one of the successful brands running within Exinity Group, we’re specialists in giving you the potential to make financial returns on a range of financial markets.
Spreads are usually tighter and execution speeds superior on an ECN account. With the Forex News Timeline you can receive live market news straight into your trading platform or via the brokers website. These articles are informative and powered by popular forex trading website FXStreet. Whilst the majority of you would probably get by with the platform tools, it is always nice to have some more at your disposal and helps the broker standout form the competition. If tools are important to you, Markets.com have a great selection.
If you’re interested in social or copy trading, here’s a list of the best copy trading platforms. There are a host of unique features which makes FXTM a preferred broker for many traders. https://forexhero.info/ While most brokers only have one or two accounts to choose from, FXTM boosts 8 different account types. The ECN accounts offer deep liquidity, fast executions and extremely tight spreads.
FXCM is better for experienced traders due to its user-friendly interface and streamlined mobile app. There will be no account maintenance fees and deposit fees at both brokers. Meanwhile, at FXTM, fund withdrawals via Credit Cards, the bank wire transfer will incur a small fee of USD 3, while PayPal withdrawals will incur a 2% commission rate. Meanwhile, FXCM offers its clients two comprehensive trading guides – Forex Trading for Beginners and Best Practices of Successful Traders.
It’s our aim to make sure our clients enjoy a hassle-free experience with us. The future of Forex EAs lies in the further integration of AI and machine learning technologies, enabling the creation of even more sophisticated and adaptive trading systems. These advancements could lead to EAs that better understand market sentiment, predict future movements with greater accuracy, and manage risks in more nuanced ways. Our state-of-the-art technology ensures your trades are executed faster than a blink, securing you the best market prices every time.
Our platforms enable trading across a wide range of markets including FX, indices, commodities, and shares. Our goal is not only to provide a trading platform but also to equip our clients with the tools and knowledge to make informed trading decisions, regardless of their experience level. Through the ECN zero account, FXTM offers ask and bid prices directly from liquidity providers (LPs) although they do add a mark-up to the spread, the account is not charged a commission. This account has market execution with no re-quotes and spreads starting from 1.5 pips. In addition to MetaTrader, the broker also has their own in house FXTM Trader App, available for download on both Android and iOS.