ForexTime, or popularly called as FXTM, is a financial service provider established in 2011. With almost a decade of experience in providing optimum solutions, it is now hailed as an international brokerage firm with headquarters located in the United Kingdom, Cyprus, and Mauritius. By availing FXTM’s services, clients will be provided with a massive selection of cross-asset instruments including exotics, highly valued metal, oil, and natural gas. On top of that, it has an additional set of equities, indices, cryptocurrencies, and contracts for differences for portfolio upgrade. For those who take interest in opening an account with FXTM, discussed below are the platform’s detailed specifications and additional features.
FXTM has the popular MetaTrader 4 and 5 at its disposal. Developed by MetaQuotes Software Corporation, these two platforms have long been tested and proven to bring efficiency to traders. They are also the most sought-after systems as it has an excellent reputation and impalpable performance in terms of processing transactions.
Since the MT5 is an upgraded version of the MT4, all features were made more premium. It has four execution types compared to MT4’s four options. It also larger set of technical indicators, charting toold, and timeframes. More so, it comes with a highly customizable interface that allows users to edit trades and ramp up pending orders. Lastly, it is extremely interactive as clients may now communicate with each other through a community chat feature.
FXTM Account Selection
FXTM’s account selection is remarkable as it offers six types. The first three are standard accounts in which execution costs rely on variable spreads and minimum amount. As for the ECN versions, variable spreads do not entail commissions. These two major divisions both have their pros and cons and each may come beneficial depending on traders’ trading structure.
Standard Account- Clients may still open this account even without the SWAP option. IT has a fixed leverage for every instrument, rapid execution, hedging, and floating spreads. In terms of commissions, rates are comprehensively displayed, and it may be opened using the euro, sterling, and U.S. dollar.
Cent Account- Similar to the Standard Account, this also comes with a fixed leverage system and a relatively fast execution speed. The leverage, on the other hand, is larger and it has single cent lots. The list of available currencies include UK pennies, USD and euro cents.
CFD Account- This account that works best for Contract for Difference traders does not entail any commission fee. It offers CFDs in over 170 shares, all tradable at a faster pace. Clients may also use hedging. With three currencies available, a fixed leverage of 1:5, and a SWAP-free mechanism, clients are guaranteed larger margin of profitability.
ECN Zero Account- While this account’s features bear similarities with the aforementioned accounts, it is purely automated since it is an electronic communications network type of account. Scalping, together with hedging, is available. More so, this SWAP-free ECN account does not allow re-quotations.
ECN Account- This account’s spreads start at 0:11, and the euro, pound, and dollar are all available as means for deposit. Just like the entry-level ECN account, it is equipped with hedging and scalping, In addition to this, it also does not allow re-quotations.
Pro Account- The Pro account offers premium conditions including commission-free trading, the fastest execution without re-quotes, and a SWAP-free system. More so, clients are provided with high level of liquidity since it is wired with the world’s largest providers. Other features that clients may enjoy are its zero last-look pricing and fixed leverage.
Education and Research Tools
FXTM tops the list in terms of quality educational and research materials. On its back are professional calibers of e-books, seminars, webinars, glossary, articles, and periodic tables- all authoritative to facilitate an intensive trading education. Its impressive selection is a well-researched set of industry topics ranging from the fundamentals of trading up to technical know-hows. More so, the tools are crafted by industry experts to render an encompassing and holistic learning for traders.
FXTM’s reputable and solid financial background can be gleaned in the provision of wide selection of accounts, authoritative learning materials, and competitive fees. Its highly responsive customer assistance and extremely secured trading conditions also come advantageous for clients. Through the collaborative efforts put to bring these aspects, clients are provided with an optimum trading experience that greatly precedes conventionality.