FXTM Review 2020 Dubai, United Arab Emirates
FXTM REVIEW 2020 – Forex trading and Forex Copy platform
FXTM Dubai is a well-known name for Forex trading in UAE. It offers Forex trading service in several countries, including Dubai, United Arab Emirates. The important features of FXTM are low spreads, flexible and high leverage, and a variety of platforms, with features like Copy Trading many more. Began in 2011, FXTM is an abbreviated name for Forextime.com. They gain popularity in the Forex industry in just a short time. They focus on saving time as much as they can for their investors.
This broker complies with regulators in multiple countries, which include CySEC (Cyprus), FSCA (South Africa), FCA (UK), and Financial Services Commission of Mauritius. They provide a highly competitive trading platform and high-quality trading services to their clients, both beginners, and skilled ones. The important factors in selecting the right broker are – the type of account, regulation of the broker, cost of trading (spread, deposit, and withdrawal fees). FXTM Dubai offers you all these reliability in terms of low fees, swap-free account if you need it, FXTM Invest to copy the best traders’ trades in your account, and much more.
You should always do a background check yourself to ensure protection against fraudulent brokers. If you are in doubt if FXTM might be the right broker for you for Forex trading in UAE, then you may find the FXTM UAE Review 2020 very useful to make a decision. We cover all aspects of FXTM as a Forex broker in UAE, their regulation, Account types, and funding methods.
FXTM has multiple account types to choose from depending upon your investment amount, trading style, and copy trading. They offer seven types of accounts, which fall into two categories: there are three types of Standard account, and four types of ECN accounts. There is also a Demo Account which can be used for learning and practice purposes.
Account Types – FXTM Dubai, United Arab Emirates
Standard account – It starts with a $100 minimum deposit. The spreads in Standard account is from 1.5 pips, it offers trading on 59 major, minor, and Forex pairs in addition to Metals and Stock CFDs.
Cent Account – It is a tiny Forex trading account starting with $5 deposit. The account runs in cents instead of dollars. You can access all the features of a Forex trading account with minimal risk of $5.
Shares account – This account exclusively offers Stocks CFD trading. It requires a similar deposit with a standard, though you’ll trade in share CFDs and not currency pairs.
ECN Account – ECN accounts offer very low spread and requires a minimum deposit of $500. FXTM ECN account offers spreads starting at 0.1. Trade 47 major and minor Forex pairs along with Commodity, Crypto and Stocks CFDs.
ECN Zero Account – This account offers spreads from 0.5 pips with 47 + Forex and Commodity and Stocks CFD trading. The minimum deposit for ECN Zero Account is $200.
ECN MT5 Account – This advanced trading platform has more features that are not available on MT4 platforms, more indicators, faster execution and server response etc are the key features of MT5 platform. The account conditions are similar to the ECN and the ECN Zero Account. A minimum deposit of $500 is the requirement to access an FXTM MT5 Account. The spread on MT5 account starts from 0.2 pips.
Pro-Account – This is for the professional traders. The required minimum deposit is $25,000, and you can avail of greater advantages.
FXTM TRADING FEATURES
There are other useful trading features that one should be considering aside from promotions, account types, and extra advantages. These are the following:
Leverage – The Leverage is adjustable and it varies depending on the account type you select. The leverage ranges from 1:500 to 1:25 for Standard and Cent Account and ECN accounts; the Pro one has lower leverage of 1:25 to 1:200. The leverage standards depend upon your country of residence too.
Spreads – The spread also depends on type of account. The smaller accounts like Cent account have higher spread and Standard Account has lower spread. FXTM Pro Account offers 0- 0.5 pips spread it is 1.3- 1.5 pips for the Standard and Cent Accounts.
FXTM provides you the option to choose from MT4 and MT5 platform, MT5 being one of the most advanced platform in the financial trading industry. MT4 trading platform is the most widely used trading platform. The traders who want an advanced and faster platform may go for MT5. The traders can download MetaTrader4, Metatrader5 for both PC and MAC from ForexTime.com website. You can also trade on we based platform and on your Android and iOS mobile phones using Mobile Trading Platform.
There are a few rewards and promotions available to the clients on the website under the Promotion section. FXTM does not provide useless bonus programs such as 100% Bonus or 50% Bonus like other brokers do.
There’s the loyalty program that is configured to save cash every time you trade. Each executed trade is equivalent to points. Points collected will save you funds on trades. Another way to gain bonuses are trading contests. A cash prize is awarded to winning participants.
FXTM provides an excellent mobile platform available for download – MT4 and MT5. You can run these mobile platforms on the iPhone, iPad, Mac, and Android phones. With the broker concentrating on time, they try their best to make the mobile trading platform faster with advanced technology, so you can have the best mobile trading experience.
Fund Deposit and Withdrawal
FXTM funding methods include wire transfer, payment wallets, and major credit/debit cards along with local bank deposits. Most of the methods would take up to 2 hours for processing, except wire transfer that would take longer within 3 to 5 business days. Withdrawals are easy and fast, and a $3 processing fee applies to withdrawals.
The majority of brokers provide the same benefits and features, but some would set themselves apart from the rest. The typical features that make FXTM Forex broker stand apart from others are:
FXTM Invest – It allows traders to copy the trades of expert traders who have an excellent record of making a profit. The expert traders are called strategy providers, you can copy your favorite strategy provider’s trades in your account through an FXTM Invest account. Find out more Forex Copy trading providers in Dubai, UAE.
Free Demo Account – A Free Demo Account is available to all traders. This account is excellent for practicing Forex trading, trying out different trading strategies. You should always go for a demo account and could train yourself before investing.
Free Educational materials – Get exclusive access to live Webinars, video tutorials, market analysis, free indicators, and trading signals, and real-time information.
Customer Service –
On the website, you’ll find a ‘Get Help’ tab on top right corner of the page. There you can click on the FAQ, Live Chat, or ‘Contact Us’ option. You can utilize all these contact options to reach someone for assistance. There are specific emails for different departments like ‘account opening’ and ‘disputes or complaints’ to provide your quicker support. In case you can’t find enough help through conventional methods, you may find the social media pages quite useful.
FXTM is quite popular in the Forex trading industry and Dubai as a popular Forex broker. They’re transparent with their terms of business. Concerning technology, they develop a modern platform with different types of accounts to suit any traders of different levels. FXTM UAE works with the goal is to save time on each of your activities. Hence they process all formalities of account opening, verification, and activation quickly. Their collection of Strategy providers are unique; there are thousands of traders copying these strategy providers in the FXTM Invest account and making money.