Broker to Trading

The FXTM Standard account is one of three non-ECN accounts offered by FXTM. It is the account which provides the most products to trade, with a total of 75+. This broker has a range of markets to trade on its Standard account, but most products available are Forex pairs (Stocks CFDs are offered on a separate account). FXTM is authorised and regulated by the FCA in the United Kingdom, regulated by the CySEC and licensed by the South African FSCA and regulated by the FSC in Mauritius.

Awards

In 2019, FXTM won Best Trading Experience at the World Finance Awards.

Account opening and minimum deposit

FXTM can open accounts for residents of many countries around the world but not for residents of the USA, Japan, Canada and some other countries. Account currencies available are GBP, EUR, USD and NGN. NGN accounts are only available for clients in Nigeria.

Account opening is swift and takes the trader to a dashboard where the platforms can be accessed. The minimum deposit for the Standard account is $/€/£100 and ₦20,000. Margin call is 80% and stop-out is 50%.

The smallest trade size is micro lots (0.01) and the maximum trade size per trade is 30 standard lots. If the trader wants to trade with smaller trade sizes than standard micro lots, they can trade on the FXTM Cent account. The trader can open the other accounts when they have signed up.

Demo account

FXTM provides a demo trading account for free which can be opened here: FXTM demo account.

Account services

FXTM offers copy trading via FXTM Invest and provides Markets Analysis and Education (including eBooks) on its website.

Islamic accounts

A swap free version of each account type is available, including the Standard account.

Online trading platforms

The Standard account provides MT4 and a web trader which is based on MT4. MT4 provides 50+ indicators (but more can be added), bar candlestick and line charts and time frames from one minute to one month.

Markets

There are 55+ Forex pairs and Spot Silver, Gold, Oil and Natural Gas and Indices available on MT4 for the Standard account for a total of 75+ markets. The web trader has 20+ Forex pairs available.

Gold as collateral

FXTM clients can buy and sell real gold through their account, from 1 gram, T&Cs apply. This can be used as collateral for trading and can be physically delivered.

Commissions

There are no commissions charged on the Standard account.

Spreads and leverage

Spreads are variable. The minimum spread is 1.3 pips for EUR/USD under normal market conditions. As a minimum variable spread it can vary higher than this under normal market conditions.

Funding

Deposit methods may include credit/debit cards, China Union Pay, Rietumu Banka, Promsvyazbank, PPF Banka, WebMoney, Skrill, Neteller, Western Union Quick Pay, Payza, Alfa-Click and DotPay and can vary depending on location. In the UK, credit/debit card, Neteller, Skrill and Bankwire are available. FXTM does not charge a commission for deposits. FXTM does not charge a commission for withdrawals on the FXTM Virtual Mastercard, China Union Pay, Skrill and Neteller. Fees/commissions are charged for other withdrawal methods.

Regulation

• Forextime UK Limited is authorised and regulated by the Financial Conduct Authority with license number 777911.
• ForexTime Limited is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12 and is licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614.
• Exinity Limited (www.forextime.com) is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License with license number C113012295.

Summary and grade

This account has more markets than other accounts available at FXTM, including the Cent account. Its spreads can be tighter than the Cent account and it has a higher minimum deposit than the Cent account. The availability of this account which provides more features for a higher deposit and a competitive number of Forex pairs, in tandem with a range of accounts for different trading styles, helps give this broker a Forex Trader Friendly grade of A.