FXTM Review 2023: Is This Broker Platform Safe for Trading?

Its daily market analysis will also help beginners understand the real-world implications of news events on the Forex market and where trading opportunities lie. LimeFX gives new traders the option of opening a live account or try demo trading with balance of $1,000,000 in virtual funds. To open a demo account, you have to click on the Open Demo Account link. This takes you to an online registration form, in which you have to enter your names, country of residence, and email address and create a password. With the MT4 mobile application, you get real-time quotes, 9 timeframes, 24 analytical objects, 30 technical indicators, trading history. You also get real-time interactive charts, all trade orders available, all execution methods available, multiple chart types, and full control of your trading account.

Overall, LimeFX is a very solid company with good regulations, competitive spreads and a well maintained platform. In terms of security, FT Global utilizes the SSL (Secure Sockets Layer) protocol for network security. This ensures that a secure connection is used for all communications with clients. It also protects customers during any transactions they conduct with the company and ensures all customer information remains private.

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There are several educational tools, including demo accounts and webinars. Similarly to the web trading platform, we tested this mobile trading platform. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products. FT Global never uses customer funds in any investment, including operations, to ensure the protection of fund at all times.

• Proper position sizing is key to managing risk and to avoid blowing out your account on a single trade.
• FXTM web trading platform offers new traders an excellent user-friendly experience with enriching educational materials, including live webinars, videos, tutorials, live updates, and local forex trading seminars.
• Its parent company FT Global Limited functions under the license issued by the International Financial Services that aims at developing and promoting Belize as an international area for financial services.
• FXTM invest is an interesting addition for copy trading ( this isn’t available in the UK though) which not a lot of brokers, apart from eToro, include in their offering.

Scalping and hedging are allowed and the commissions start at just $4. In the case of certain accounts, there are floating commissions. For ECN MT4, for example, the commission depends on the trading volume and equity, with lower commissions corresponding limefx to higher trading volumes and equities. The tight spreads from LimeFX help to ensure that traders can take advantage of low initial trading costs. The minimum deposit is conveniently low and the platform uses No Dealing Desk (NDD) technology.

How can I open an FXTM account?

On the website, in the ‘Market Analysis’ section, you can find market updates and various research tools, e. A Forex News Timeline, as well as market analysis videos published by FXTM. You can’t set alerts and notifications on the FXTM web trading platform.

FXTM broker also offers a referral to a friend program where you get $50, and if your friends join, they will also receive the same amount. You can even earn up to $10000 for referring to a big audience with your link, and the cash earned is withdrawable. While stock baskets are typically considered collections of various securities (such as stocks, currencies, etc.), they work slightly differently with FXTM.

Beginner’s Guide to XM Broker: Complete Review

The traditional method of Bank Wire Transfer is also available, but the deposits will take up to five days to hit the account. You can read high-quality articles on forex trading, view video tutorials, sign up for webinars, and check out the glossary. The parent company of FXTM, Exinity Limited, https://limefx.group/ is licensed and regulated by the Financial Services Commission (FSC) of Mauritius. The company permits you to withdraw all your winnings and zero commission using skrill, Neteller, and China Union pay. Additionally, you can perform withdrawals on reduced commissions in a 1% to 1.5% range.

• FXTM Ebook library is helpful for both new and experienced traders.
• Underneath this, you can find additional information such as statistics per instruments like profitability, pip, average pip, SL/TP, average SL/TP, duration, and type.
• The methods for withdrawal are nearly identical, with a few differences.
• This means, if you are onboarded under Mauritius regulation (FXTM’s Exinitiy Ltd entity) you’d be able to use this feature.
• The broker aims to empower traders to increase their trading knowledge so that they can get the best value from their investment.

Finally, info on sell, buy, consecutive losses, greatest losses, and maximum simultaneous orders. Underneath this, you can find additional information such as statistics per instruments like profitability, pip, average pip, SL/TP, average SL/TP, duration, and type. Also, the trades by hour and trades for specific days of the week. The last two of these figures include profitable and unprofitable trades separately.

Deposit fees and options

Furthermore, I found them to have very competitive trading conditions including tight spreads, low commission fees and rapid trade execution speeds. I like that you can get access to plenty of tools to enhance your overall trading experience and excellent customer support. FXTM is an award-winning broker that gives you access to trade a great range of over 250+ financial instruments.

Proper position sizing is crucial in determining whether you’ll live to trade another day. When planning your trade, it is important to understand the potential profit or loss of a trade. Our Forex profit loss calculator can be used as a take profit or stop loss calculator whether you’re actually using sl/tp values or closing the trade manually.

Let us now learn more about the deposit and withdrawal options offered by FXTM, followed by trading and non-trading fees, FXTM commissions, & more. Traders at FXTM can choose from prominent securities in Europe, Australia, Asia, and the US and trade on indices. Traders can find additional opportunities while trading on CFD commodities with FXTM. Commodity trading has become more convenient thanks to the FXTM exchange, where traders can access the commodity market more easily than by buying the commodities outright. At FXTM, traders can do trading CFDs on US natural gas, US crude oil, and UK Brent oil. The prices of energy and oil products keep fluctuating based on a number of factors, such as general confidence prevailing in the world economy and demand & supply for the products.

If a trader registered with FXTM refers a friend or a family member, he/she will get a bonus of $25. They can use a customized referral link to promote the online broker. Traders can earn up to $10,000 just by referring friends and family members, and they can withdraw these funds any time they wish. LimeFX has designed several types of accounts to suit different trading styles.