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Rating Index

Pros

Wide range of trading instruments, including forex, commodities, indices, stocks, and cryptocurrencies.

Strong regulatory oversight from multiple authorities, ensuring a secure trading environment.

Robust educational resources and customer support available in multiple languages.

Cons

Variable spreads can widen during periods of high market volatility, impacting trading costs.

Limited selection of markets, particularly in commodities and individual stocks.

No proprietary trading platform, relying solely on MetaTrader 4 and 5, which may not meet all traders' preferences.

FXTM Trading broker Accounts

FXTM Account Types

FXTM (ForexTime) offers a variety of trading accounts tailored to meet the needs of different traders, from beginners to experienced professionals. The primary account types include:

Micro Account:

Minimum Deposit: $10 (₦10,000)
Spreads: From 1.5 pips
Commission: None
Leverage: Up to 1:1000 (fixed)
Trading Instruments: Forex, metals, commodities, indices
Execution Model: Instant execution

Advantage Account:

Minimum Deposit: $500 (₦408,250)
Spreads: From 0.0 pips
Commission: $3.5 per lot on forex
Leverage: Up to 1:2000 (floating)
Trading Instruments: Forex, spot metals, index CFDs, commodity CFDs, cryptocurrency CFDs, stock CFDs (only on MT5)
Execution Model: Market execution

Advantage Plus Account:

Minimum Deposit: $500 (₦408,250)
Spreads: From 1.5 pips
Commission: None
Leverage: Up to 1:2000 (floating)
Trading Instruments: Forex, spot metals, index CFDs, commodity CFDs, cryptocurrency CFDs, stock CFDs (only on MT5)
Execution Model: Market execution

Islamic Account: Available for all account types, offering swap-free trading options.
Demo Account: A risk-free account for practice, allowing traders to familiarize themselves with the trading environment using virtual funds.

FXTM Broker Account Opening Process

Opening an account with FXTM is a straightforward process that can be completed online in just a few steps:

Visit the FXTM Website: Go to the official FXTM website.
Click on "Open Account": Find the “Open Account” button, usually located at the top right corner of the homepage.
Choose Your Account Type: Select the type of account you wish to open (Micro, Advantage, Advantage Plus, etc.).
Fill in the Registration Form: Provide personal information such as your name, email address, and phone number. Choose your preferred base currency and set a secure password.
Agree to Terms and Conditions: Read and accept the terms and conditions to proceed.
Verify Your Account: Upload required documents for identity and address verification (e.g., government-issued ID and utility bill).
Receive Login Credentials: After verification, you will receive your login details via email.
Fund Your Account: Log in to your FXTM account and navigate to the “Deposits” section to fund your trading account using various payment methods.
Download the Trading Platform: Choose between MetaTrader 4 or MetaTrader 5, download the platform, and log in using your credentials.
Start Trading: With your account funded and platform set up, you can begin trading in the financial markets.