FXTM Review 2022: Best Forex Broker Sout Africa

A worldwide CFD and FX broker, FXTM or Forex Time, was established in 2011. It is governed by several financial organizations, including the Cyprus Securities and Exchange Commission and the UK Financial Conduct Authority (FCA) (CySEC).Because the top-tier FCA oversees FXTM, it is regarded as secure. You will find the best forex broker south Africa by the help of provided data.

Due to leverage, CFDs carry a significant risk of losing money quickly. Seventy-seven percent of retail investor accounts experience a loss when trading CFDs with this supplier. It would help if you considered whether you comprehend how CFDs operate and whether you can afford to incur the significant risk of losing your money.

Advantages and Disadvantages of FXTM

Fast and accurate responses are provided by FXTM customer support. They have multiple languages via which to be reached.

Numerous educational resources are available, such as live webinars and demo accounts. Opening an account is quick and entirely digital.

On the downside, FXTM charges substantial CFD commissions. Additionally, a withdrawal fee and an inactivity cost are usually charged. Due to the absence of some asset classes like ETFs, bonds, mutual funds, etc., the product portfolio is restricted.

Several different trading accounts are one benefit of using FXTM for trading;

an abundance of training resources;

The capacity to trade using automated programs.

the smallest down payment is $10;

MT4 and MT5 are the most used trading platforms;

The FXTM Trader is a proprietary app for mobile trading;

the extremely low spreads start at 0.0 pip;

There is a vast selection of trading instruments;

Major financial regulators in four jurisdictions oversee the broker’s operations;

Professional assistance.

FXTM’s drawbacks include the availability of only copy trading for investments;

Sunday and Saturday are off days for the broker.

Forex Time Invest (FXTM)

Investors need to register, pick a trader, and imitate his transactions to get going and start profiting. The user can choose different management if necessary and base judgments on the profitability of trading with a particular manager. Only for successful deals do investors pay a commission to managers. Oanda fx is one of the trusted platforms for trading online.

Features of the trade copy service from FXTM Invest:

The choice of a trader according to your objectives, trading style, desired profitability, and risk tolerance; the rating system has an additional unique filter;

replicating the transactions of multiple managers to reduce risk and choose a successful approach; The evaluations for the managers are updated automatically and include statistics on many factors.

The service makes passive income possible for both professional traders and investors. A trader can join ForexTime as a manager and have investors copy his trades, allowing him to earn more money from his labor.

Investors can mimic transactions using more than 5,000 trading methods through FXTM Invest. With $100, you can begin investing. Additionally, the broker only permits clients to pay commissions on successful deals.

What Distinguishes FXTM from Other Brokers?

Customers can select from various account kinds to match their trading characteristics. FXTM assigns each client a personal support agent

FXTM sets itself apart by having a dedicated mobile app and being governed by two top regulators. You can trade forex on our MetaTrader 4 platform as well as on oanda fx Trade.

What Kinds of Traders work well with FXTM?

FXTM is a good option for traders who are new to the markets because it offers a demo account, dependable customer service, and extensive training materials. Through the Advantage account type, seasoned traders can benefit from MetaTrader’s cutting-edge features and decrease trading expenses.

Stability and Openness

Stability and transparency-related criteria are also covered in our testing for the Trust category. Here, we emphasize the broker’s length of operation, company size, and degree of information transparency.

FXTM was introduced in 2011, indicating a long operating history. According to its LinkedIn page, the company has its corporate headquarters in Limassol, Cyprus. According to the FXTM website, the group of firms has more than 800 workers working in more than ten offices worldwide.

According to our investigation, FXTM displayed a high level of regulatory openness, with a footer listing all businesses and regulators.

Trading Charges

We used the MetaTrader 4 software to test the spreads at FXTM across various asset classes. On June 10th, 2022, the test was run between 8 AM GMT and 3 PM GMT. The London open occurs at 8 AM GMT, when the forex market is very liquid, and currency spreads are at their narrowest.