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If you are a resident of Nigeria, you also have the option of the NGN. FXTM encourages traders to download both the MT4 and MT5 platforms, then use them in parallel before making their final decision. However, while the broker ensures that they won’t be deactivating MT4 soon, it will happen eventually. MetaTrader 4 (MT4) is the tried and tested trading platform that has catapulted forex trading into the mainstream.

Find out about one of the best trading apps on the market in our ForexTime FXTM review

  1. For traders looking for the best MT4 experience, this list of top MT4 brokers might be helpful.
  2. Before you use these products, please take into consideration your level of experience, financial objectives and seek independent advice if necessary.
  3. Many traders use Cent Accounts alongside a Standard Account to test new EAs under live trading conditions.
  4. FXCM and FXTM (or ForexTime) are two multi-regulated forex brokers that have good education, a wide range of trading platforms such as MetaTrader 4 and a range of CFD products.
  5. However, while the broker ensures that they won’t be deactivating MT4 soon, it will happen eventually.

Learn more about how FXTM can elevate your trading experience, whether you are a seasoned professional or new to the world of financial trading. For all of our broker reviews, we research, validate, analyse and compare what we deem to be the most important factors to consider when choosing a broker. This includes pros, cons and an overall rating based on our findings.

ForexTime FXTM: Support

This aligns with FXTM’s ethos of providing tailored and responsible trading experiences to its global clientele. TradingBrokers.com is for informational purposes only and not intended for distribution or use by any person where it would be contrary to local law or regulation. We do not provide financial advice, offer or make solicitation of any investments. The broker works very hard to offer you helpful, skilled and multi-lingual trading and technical support, always on hand to assist you with your questions. You also get your own account manager who is on hand to assist and offer personalised support. I have found them to be excellent when it comes to support, always quick and helpful in their responses.

Customer Support

Sometimes referred to as ForexTime, FXTM offers clients low-cost trading, fast execution and world-class forex education. Those wanting an ECN-style trading environment may prefer XM’s Zero Account or FXTM’s ECN Account. The commission accounts offer access to ultra-tight spreads, with traders paying a flat-rate commission fee as compensation to the broker. With low spreads and commission fees, the ECN-like accounts are excellent choices for those using Expert Advisors or executing day trading and scalping strategies. The broker’s ECN Zero Account is similar to its pure ECN Account, except traders pay no commission fees on top of the spread.

For IBs, Strategy Managers, Forex Gurus & Local Representatives

MT4 and MT5 are compatible with a range of devices, with desktop and webtrader platforms available, as well as mobile trading apps for Android and iOS devices. From local seminars to educational videos that take the trader from A to Z of the business, FXTM provides an ample and diverse supply of training material suited for traders of all levels. Both FXCM and FXTM are ASIC regulated, which ensures a high level of security for traders. However, FXCM was founded overseas, while FXTM has its origins in Australia.

There will be no account maintenance fees and deposit fees at both brokers. In addition, FXCM provides a list of international free call numbers for its clients. The bottom line is that FXCM and FXTM bear several similarities, more or less being regulated in the same jurisdiction and offering fund protection along with NBP policy. In the end, the decision to open an account with FXCM or FXTM comes down to your personal preference and trading needs. In case of an unexpected market occurrence that results in a negative balance, the broker will not request the respective amount from its clients and will bring their account balance back to zero.

For a comprehensive list of top Australian Forex brokers, visit this page. FXCM is better for experienced traders due to its user-friendly interface and streamlined mobile app. These minimum amounts apply to all regions and payment channels for both brokers.

FXTM is a no dealing desk (NDD) broker with orders processed using straight-through-processing (STP). No dealing desk brokers fill orders using external liquidity providers and therefore do not set their own bid-ask prices. Instead, prices are sourced from multiple liquidity sources, allowing traders to access institutional trading conditions with ECN-like pricing. FXTM is better for beginner traders because of its diverse account types and superior educational resources. 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.

Contract sizes are flexible, with both standard and micro lot sizes available. XM is a market maker broker that sets its own bid-ask prices and uses internal https://forexhero.info/ liquidity to fill orders. Unusual for a market maker, XM offers the guarantee of no requotes, with 100% of trades being processed with no orders rejected.

FXTM’s funding methods are fee-free, although third-party fees may apply. For Skrill and Neteller e-wallet options, VIP programs are available where the e-wallet providers charge reduced transaction costs. XM customers can get in touch with the online broker via live chat, phone or email. Customer support representatives are available 24 hours a day, 5 days. XM and FXTM are both overseen by multiple top-tier financial authorities. As regulation varies between jurisdictions, the investor protection you receive depends on the subsidiary you are signed up to.

Each account type allows clients to focus on different asset classes, as well as offering different spread and commission price models. You can view the full FXTM standard vs ECN account page or a summary is below. Both brokers have competitive spreads, but FXTM edges out with slightly tighter fxtm forex broker review spreads on major pairs. For instance, the EUR/USD spread with FXTM can go as low as 0.1 pips. For a more detailed comparison on low commissions, you can check out this comprehensive guide on the lowest spread brokers. FXTM offers swap-free options for Standard, Cent, ECN and ECN Zero Accounts.