Navigating FXTM’s Features: A Trader’s Perspective

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As a forex trader, it is important to know how to navigate the various features offered by a broker. To help you, we have put together a few points to show you what you should be looking at and what features you should be comparing to find the best broker for your forex journey.

Here is what you should be looking at from a trader’s perspective.

Regulation and Security

Ensure the broker is regulated by a reputable financial authority. This provides a level of security and ensures that the broker follows certain standards. Also, look for brokers that segregate client funds from their operational funds to protect your capital.

South African traders that trade through FXTM are unfortunately not protected by the FSCA (Financial Sector Conduct Authority), but FXTM is regulated by some other top-tier authorities, including the UK’s FCA (Financial Conduct Authority) and CySEC (Cyprus Securities and Exchange Commission). South African traders will be trading under the FSC (Financial Services Commission) of Mauritius which handles most of FXTM’s international business outside of Europe.

FXTM does practice fund segregation and keeps your funds entirely separate from operational funds in various top-tier banking institutions.

Trading Platform

Choose a broker with a user-friendly and reliable trading platform. Popular ones include MetaTrader 4 (MT4) and MetaTrader 5 (MT5) and also ensure that the platform offers the technical analysis tools, charts, and indicators you need for your trading strategy.

With FXTM you can choose to trade with either MT4 or MT5 which is free to download on PC, Mac, mobile and tablet. You can trade via their mobile app, on your desktop, or via a browser anywhere you go. It only takes minutes to create an FXTM account and you are good to go.

FXTM offers various trading tools to assist you including:

  • Currency Converter
  • Margin Calculator
  • Pip Calculator
  • Profit Calculator
  • Invest Profit Calculator
  • FXTM Trading Signals
  • FXTM Pivot Points Strategy
  • Economic Calendar
  • Daily Market Analysis 

Currency Pairs and Instruments

Check the variety of currency pairs and other financial instruments offered. A diverse range allows for more trading opportunities.

Overall FXTM does not offer a great range of trading instruments compared to its competitors, but they do offer about 62 Forex pairs which is a larger range than many other brokers.

Leverage and Margin

Understand the broker’s leverage offerings and margin requirements. Be cautious with high leverage, as it amplifies both gains and losses.

FXTM offers some of the highest leverage in the industry of up to 2000:1 on major Forex pairs, but as mentioned above, traders should be careful when trading with such high leverage, especially on accounts with low minimum deposits. Keep your risk management in mind.

Fees and Commissions

Be aware of spreads, commissions, and any other fees associated with trading. Low transaction costs can significantly impact your overall profitability.

FXTM offers three different accounts with varying fees. The minimum deposit ranges from USD 10 to USD 500, with a trading cost between USD 6 and USD 15. Their trading costs are higher than average on the commission-free Micro and Advantage Plus accounts, with spreads of 1.5 pips (EUR/USD), but significantly lower on the Advantage Account.

These are just a few things to consider when navigating a broker’s features. We recommend that you do a proper investigation into FXTM and look at their deposits and withdrawals, their education and research, their customer service and more.

Overall FXTM is a good broker for beginners with excellent education, is well regulated, even though not by the FSCA, has a low minimum deposit, and copy trading accounts.