Since 2012, FXTM or ForexTime has been a worldwide broker of CFDs plus forex. A figure of economic powers that be regulates it, as well as the FCA starting the CySEC and UK from Cyprus.FCA rule makes FXTM a secure investments.
Advantages and disadvantages of FXTM
Fast and accurate answers are provided by FXTM customer service. You can contact them in more than one language. Demo account with live webinars is between the learning apparatus accessible. A new account can be opened in minutes through a fully digital process.
Some other advantages of FXTM are
- Customer service is excellent
- Educational tools of exceptional quality
- Opening an account is fast and digital
- Fees for CFDs are high
- Withdrawal and inactivity fees
- Limitation of product portfolio
How To Open Your Account
FXTM accounts are entirely digital and easy to open.
?You will receive an approval within one business day after submitting the online application, which takes about 25-30 minutes.
Here are the 7 steps to opening an FXTM account:
1. You will need to provide your email address, name, and country of residence. Your phone number is also required to receive a PIN code from FXTM
2. Choose the type of account you’d like to open
3. Next information is about you, such as your DOB and education
4. Include the address you currently reside at
5. Explain your background in finance and your experience in the area
6. Complete your financial knowledge questionnaire
7. You’ll need to upload a copy of your passport, driving license, or other official documents to verify your identities, such as utility or bank statement.
To get more info about account opening and other process feel free to click on the link.
Various account types require different minimum deposits with FXTM. Currently, the Micro account requires a deposit of $50, the Advantage account requires $500, and the Advantage Plus account requires a $1,000 minimum deposit.
Types of accounts
You can choose from three types of accounts. You can select different account types depending on the country where you want to invest, how much you want to invest, how many products you wish to trade, and the trading platform you can use.
Withdrawal and deposit options
Depositing and withdrawing funds with FXTM is easy. Most anything is accessible, including credit cards, banking, and electronic wallets. There is a fee associated with most types of withdrawals at FXTM.
Deposits with FXTM are free.
?Credit cards and e-wallets are other options besides bank transfers. Similarly, the competitors are doing the same.?
You can withdraw money using a bank transfer, a credit card, and an electronic wallet. The same electronic wallets are accepted as deposit methods. Following services can be used to deposit
- Western Union
- Quick Pay
You may only withdraw funds via the same method you used to deposit. This includes credit/debit cards or digital wallets. Any profit you make should be withdrawn via bank transfer.
You receive a different withdrawal fee depending on your method, the currency you use, and your country of residence.
Final Thoughts About FXTM
Several financial authorities around the world regulate FXTM, most notably the FCA(Financial Conduct Authority).
A plus for customer support is that they respond quickly and with relevant information.Demo accounts and webinars are among the educational tools available. It is entirely digital and takes only a few minutes to open an account.
Despite this, FXTM has some drawbacks: high CFD charges, inactivity fees also withdrawal, with a limited range of products.
Feel free to try FXTM since the account opening procedure takes less than a minute, and customer support is available 24/7.