Forex trading is massively popular thanks to the big-money transactions involved. Before you start trading, however, you must register with a licensed forex broker – there’s no way around it.
Choosing the right forex broker can help jump-start your forex career. You will learn various trading tips, including market analysis, so you can understand the best time to execute a trade.
One reliable broker to consider is FXTM. If you have yet to read a review about FXTM, here is what you need to know about the company:
What is FXTM?
FXTM is a licensed and globally regulated online broker for retail CFD, stocks, and forex traders. The company has been providing brokerage services since 2011, with locations in the UK, Cyprus, and Mauritius. It also has a strong presence in Nigeria, South Africa, Malaysia, South Korea, China, India, Thailand, and Indonesia.
One way to tell if a brokerage firm is reputable is through its membership base. FXTM has over 1 million active traders from 150+ countries. They provide in-person trading courses and free educational materials to traders, which explains why their popularity is growing consistently.
Opening an FXTM Trading Account
FXTM accepts traders from all over the globe, excluding Japan, Mauritius, North Korea, Haiti, Suriname, the United States, Puerto Rico, and Cyprus.
Before trading with FXTM, you must register an account. Depending on your trading needs, you can open a Standard or an ECN investment account. The Standard account is for small traders and offers commission-free trading, while the ECB account is commission-based and ideal for seasoned traders.
Registering an FXTM investment account is easy. You only need to provide your name, contact details, email address, and country of residence. However, you may have to submit verification documents depending on your location.
Why Choose FXTM?
Here are some of the reasons to trade FXTM:
Low Trading Costs
FXTM has one of the lowest trading costs for forex traders. At the same time, the broker offers high leverage at a ratio of 1:2000. However, the leverage for UK and EU clients is 1:30 due to ESMA regulations.
Multiple Trading Opportunities
FXTM has multiple trading instruments, allowing you to diversify your trading portfolio. The broker offers over 55 currency pairs, 4 crypto pairs, 3 energy spot CFDs, 150+ stock CFDs, 5 metal spot CFDs, and 15 CFD indices.
Deposits are 100% free. The broker accepts various deposit options, including credit cards, bank transfers, mobile money, e-wallets, and local bank deposits. When you deposit your margin, you can be sure your funds are safe. The broker saves cash in top-tier banks in a separate account.
Web and Mobile Trading
FXTM has numerous trading platforms. You can trade online via MetaTrader 4 and 5 or the FXTM mobile trading app.
A Great Platform for Novice Traders
FXTM provides free educational resources to help you hone your trading skills. They also offer countless trading opportunities, which you can use to turn your trade into a profitable venture.