10TradeFX – reviews about forex and CFDs broker with full regulation

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FXTM Broker Review

Min. Deposit USD 10
Max. Leverage Flexible
Min. Spread 0.1 pips
Regulators CySEC,FCA,FSCA,FSC
Regulator Origin
Broker Type Market Maker/ECN

Leverage offered can vary depending on country of residence, and your trading knowledge and experience.

Summary

FXTM is an award-winning ECN/STP broker popular with beginner traders. FXTM offers competitive spreads, instant trade execution and accounts with low minimum deposits. With recognition from international regulators and the FSCA, excellent training material, and 24/7 customer support FXTM is a great broker for beginner traders.

Reviews

Trust Rating
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
Beginner Friendly Standard
Bonuses 30% Welcome Bonus!
Our Review Process

Trading Conditions

Minimum Deposit USD 10
Base currencies USD, EUR, GBP, NGN
Number of FX Pairs 59
Hedging Allowed Yes
Scalping Yes
Swap-Free Accounts Yes

Average Spreads

EUR / USD 0.1
GBP / USD 0.3
USD / JPY 0.1

Company Details

Company name Exinity Limited
Founded 2020
Website Visit Website
Type Market Maker/ECN
Regulators CySEC,FCA,FSCA,FSC
Office locations UK, Cyprus, Belize

Deposit & Withdrawal Methods

Supported Platforms for FXTM

Is FXTM Safe?

With regulation from CySEC (license 185/12) since 2020 and full FCA authorisation (license: 777911) since 2020, FXTM has excellent international accountability. FXTM is licensed by the FSCA (FSP: 46614) starting 2020, which means that funds are kept in local accounts and managed according to South African regulatory policies.

Additionally, FXTM has been widely recognised by its peers in the industry. In 2020, FXTM won the award for Most Innovative Broker (FX Empire) for growing its product offering to include cutting-edge pivot point technical analysis tools, copy trading functionality on ECN accounts, and expanded payment methods. In 2020, FXTM also awards for Best Forex Education Provider Africa (International Business Magazine) and Best Trading Conditions (World Finance).

FXTM Trading Conditions

As with most brokers, trading conditions become more favourable the more money a trader chooses to deposit. But base trading conditions are better than most Forex brokers and this makes it attractive to new traders. Leverage is flexible depending on the country of residence, knowledge and experience. The margin call is fixed on all accounts is set to a very reasonable 80%.

Account types

FXTM has two main sets of account types and each is suited to a different kind of trader.

Min. Deposit Max. Leverage Min. Spread Commission
Cent Account USD 10 1000:1 1.5 pips None Account Details
ECN Account USD 500 1000:1 0.1 pips $2.00 Account Details
ECN Zero Account USD 200 1000:1 1.5 pips None Account Details
FXTM Pro Account USD 25000 200:1 0.0 pips None Account Details
Standard Account USD 100 1000:1 1.3 pips None Account Details

Standard Accounts

There are three standard accounts for Forex traders. All three Standard accounts use instant order execution. With instant execution you can set your stop loss and take profit orders at the same time that you are posting your trade, allowing better control of the trades. The spreads are generally wider than market execution accounts, in exchange for the lower deposits required.

Standard Account – This account type requires a 100 USD minimum deposit. The spreads start at 1.3 pips, and the margin call is 40% in FT Global Limited and 80% in Forextime Limited. The advantage of this account is that you can also trade the cryptocurrency offerings available in FT Global Limited.

Cent Account – This is an entry-level account, with a minimum deposit of only 10 USD. The spreads are wider, starting at 1.5 pips, and the margin call is 60% in FT Global Limited and 80% in Forextime Limited. There are also limitations on what currency pairs can be traded, as the more exotic pairs will require wider spreads that are not compatible with this account size. The only attractive aspect of this account compared to the others is the minimum deposit, so if you do have the money to invest, open either the Standard account above or the ECN Zero.

Shares Account – The Shares account type requires a 100 USD minimum deposit. The spreads start at 0.1 pips, and the margin call is 40% in FT Global Limited and 80% in Forextime Limited. FXTM offers trading on nearly 180 different company shares from the NYSE and NASDAQ and provides real-time data from both exchanges.

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ECN Accounts

There are two main accounts for retail Forex traders and one for more professional traders with a higher minimum deposit. All the ECN accounts use market execution to execute orders and offer the option to use the MT5 trading platform. Because these are market execution accounts you will not be able to set your stop loss and take profit orders when you post your trade, increasing your risk during times of high market volatility. All the ECN Accounts require a higher minimum deposit than the Standard Accounts, but spreads are narrower.

ECN Account – if you are looking for tighter spreads and don’t mind paying a commission per lot, then this could be an account for you. With the standard leverage offered, this account requires a minimum deposit of 500 USD.

ECN Zero Account – Spreads starting at 1.5 pips are offered with this account type, but no commission per lot traded and a lower 200 USD minimum deposit. Because of the wider spreads, you will pay more fees to the broker in the long run with this account when compared to the main ECN account.

FXTM Pro Account – A 25,000 USD minimum deposit, no commission on trades and spreads as low as 0 pips. The FXTM Pro account is an excellent professional account that cannot be improved much. If you are a professional trader, sign up and get in touch with the team to see if FXTM is right for you.

Spreads and Commissions

The spreads on the different account types vary between the ECN and Standard accounts. This is more due to the combination of commission and spread fees and how the order is executed.

Deposits and withdrawal fees

All major credit cards are accepted, as are all e-wallets. If you prefer to make a deposit via bank transfer, you should expect this to take a little longer. No commission is charged on deposits, but withdrawals have commissions depending on withdrawal type. They are:

  • NetTeller & Skrill – Free
  • Credit Cards – 2 EUR/ 3 USD/ 2 GBP Fee
  • Bank wire – 20 EUR/ 25 GBP/ 40 USD

FXTM For Beginners

The educational material at FXTM is suitable for beginners but may seem lacking to the more advanced trader. By keeping the focus on beginners looking for reasonable trading conditions, the FXTM team of educators and analysts have succeeded in creating a welcoming environment for new traders. Additionally, FXTM is one of the few brokers with 24/7 support, allowing traders to get set up on weekends or holidays.

Educational Material

For the absolute beginner, FXTM has a great deal of training material to help new traders get started. Materials include articles, videos, webinars and a searchable glossary of new vocabulary. This is an excellent resource and many hours can be spent covering the basics of Forex Trading. For the more advanced trader, there is an additional set of videos that cover analysis topics, and more detail on chart reading techniques.

Analysis Material

FXTM has an open “Daily Market Analysis” section on their website where research analysts post bulletins that connect daily news items with analysis and actionable trading ideas. For advanced traders, this can be combined with other sources to achieve a more comprehensive view of global events and the trading opportunities they represent.

Customer support

FXTM customer support is open seven days a week, which is unusual compared to the standard 24/5 service offered by other brokers. Support is open Monday to Friday (24 hours), Saturday (11:00 to 16:00) and Sunday (12:00 to 20:00).

FXTM Trading Platforms

All FXTM accounts use the industry-standard MetaTrader 4 and all three ECN Accounts give you the option of using MetaTrader 5.

Mobile Trading Apps

MetaTrader is freely available on both Android and IOS mobile phones and tablets. The advantage of using the MetaTrader platform is the cross-device and multi-broker functionality, making it easier to change broker or use multiple brokers.

FXTM in their own words

Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the FXTM offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

FXTM Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. FXTM would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 90% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Overview

FXTM is a well regarded ECN/STP broker with a strong focus on educating new traders, customer support and innovation. With a broad selection of account types to satisfy traders of all experience levels, industry-standard trading platforms, multiple international regulators and widespread industry recognition we can recommend FXTM for both new and experienced traders.

Leverage offered can vary depending on country of residence, and your trading knowledge and experience.

Admiral Markets Group consists of the following firms:

Admiral Markets Cyprus Ltd

Admiral Markets Pty Ltd

Admiral Markets UK Ltd

Reading time: 8 minutes

If you are reading this article, you are most probably curious about the foreign exchange market and online trading. People are always striving for the best, and when it comes to trading, everyone wants to get the best trading conditions, superior trading platforms, and, of course, to trade with the best market prices.

Millions of traders choose to trade Forex, as they have come to an understanding of why Forex is the best market to trade. These traders explore the potential of the online trading market, and seize all the possible opportunities available to them. So, why is Forex the best market to trade? There are many reasons, and we are going to explore all of them, but before we jump into it, let us first explore a brief history of the Forex market.

What is the Forex Market in 2020?

Forex, also known as the foreign exchange market (or FX), is the largest and the most liquid market in the world. Its retail part came with the development of the Internet. This enabled retail clients to trade Forex online via various trading platforms. Forex opened its doors to retail clients in the late 1990s. At this time, the first retail online brokers began their operations.

Forex, as a market had been functioning for decades before that, but it only accepted institutional clients. Currently there are trillions of US dollars traded daily on the Forex market, with retail clients contributing nearly 5% of the total volume, or around 250 billion US dollars in daily turnover. But why is the Forex market so large?

Large multinational trade companies, financial institutions, hedge funds, and lots of other companies require foreign currencies to operate their businesses. For those unaware, one currency is bought online for another currency, and this creates quite a reasonable flow of funds. In other words, Forex is the global marketplace for trading currencies.

Reasons Why Forex is the Best Market to Trade

Different traders have different reasons for choosing the Forex market. The truth is, Forex has a lot to offer for all types of traders, and there are plenty of reasons to trade Forex online. The main reasons why Forex is the top market to trade are explained in detail below. Not every point will be applicable to your needs, or your trading strategy, yet most traders define the following reasons as answers to the question of why Forex is the best market for trading online.

Volatility

How do traders make money online? The mechanics behind trading are rather simple. You are acquiring an asset for a favourable price, and you expect to get rid of this asset. The more volatile the market is, the more opportunities there are to acquire and get rid of the assets you have. As you may already understand, if the market is not moving, holding onto your capital in it makes little sense.

Volatility in the Forex market is great, and you can regularly expect to see a price move for around 50-100 pips on one of the major currency pairs on almost any day of the week. This amounts to a potential loss or gain of 500-1,000 USD, if one lot (or 100,000 currency units) is traded, and the quoted currency is USD. Traders always search for volatile markets and volatile instruments, this is why volatility is one of the main benefits of the Forex market.

Accessibility

While volatility is quite important and truly tells us why Forex is the best market to trade, we should never disregard accessibility. Even though Forex is volatile, and it is possible to catch lots of market moves, this market is more accessible than any other online trading market. Trading Forex online can be started with as little as 100 USD.

Compared with many other financial markets, there is a rather low trading capital requirement. What is also great about Forex market accessibility is that you can easily sign up for your trading account from your PC. Most retail Forex brokers operate online, and all you have to do to start trading with Forex is to register, submit your documents, and perform a deposit on your Forex trading account.

Even though accessibility does not really influence the quality of the market, it certainly provides a reason why Forex is the most interesting market to consider trading on. When it comes to inexperienced traders, Forex trading can be easily accessed via a free demo trading account, this way, you can start paper Forex trading within a matter of minutes.

Technology

Software advancements make our lives much easier, and the same is true with online trading. There are more and more Forex trading platforms appearing every year, and there are even more regular updates for established Forex trading software. Compared to many other online trading markets, technological advancements are definitely one of the reasons why Forex is one of the most potentially lucrative markets to trade on.

In addition to this, the retail Forex software industry is also enriched by third party software providers, who supply various add-ons and plugins for the most common trading platforms, including MetaTrader 4 and MetaTrader 5. This is why Forex is an innovative way to trade online.

Possibilities

You probably know that the simple rule of trading is to buy low and sell high. In Forex, you can also sell assets without owning them – this is known as ‘going short’ (or short selling). Let’s check out this possibility with an example. Let’s suppose that you have 10,000 EUR on your account, and you want to trade with the USD/JPY currency pair. Without actually purchasing either USD or JPY, you can simply go short on this pair and sell Yen for Dollars, while your actual account balance is in EUR.

Such a feature tells us why Forex is a good market to trade. On top of this, you can trade Forex on a margin, which implies the use of leverage. With the help of this leverage, you can trade much bigger amounts than your deposit. This is simultaneously an advantage and a disadvantage at the same time, as your potential gain can be many times bigger than your deposit, but your potential loss can equally be much larger too.

Regulation

Forex trading is heavily monitored, and many Forex brokers are regulated by more than one authority. This demonstrates that Forex is one of the safest markets to trade, although this only applies to regulated brokers.

Trading With A Demo Account

Trader’s also have the ability to trade risk-free with a demo trading account. This means that traders can avoid putting their capital at risk, and they can choose when they wish to move to the live markets. For instance, Admiral Markets’ demo trading account enables traders to gain access to the latest real-time market data, the ability to trade with virtual currency, and access to the latest trading insights from expert traders.

To open your FREE demo trading account, click the banner below!

Bonuses and Promotions

Forex brokers create substantial trading volumes, due to the leverage they offer. This is why it is often possible to be rewarded with a certain deposit bonus when opening a Forex trading account. Why is Forex the most exciting market to trade? Because in addition to the bonuses you may receive, brokers also tend to offer a number of other incentives and promotions. NB! Please note that bonuses and incentives are not available for retail clients!

Growth

It takes time to master Forex trading, but once you have, a whole new world of opportunities opens up for you. You may become an account manager and start getting profits not only from your trading, but also as a commission for managing accounts.

Communities

Social networks become more and more popular every day, and as Forex is the largest market, it also has the largest amount of trading forums and trading networks. This way, you get to experience a whole community of Forex traders, making Forex the most social market to trade. As the retail market has been developing for nearly two decades, you can easily find lots of experts, contributors, educators, critics, and other members of the community in every possible language.

Education Materials

As Forex is the most accessible market to trade, there are many beginner traders opening trading accounts on a daily basis. To make sure that this group of people can trade efficiently, Forex brokers supply various materials to them, in order to enhance the knowledge of rookie traders.

Conditions

Trading conditions are vital for professional day traders. Spreads and commissions on this market are quite low, making this an attractive market to trade. In fact, quite often, it is possible to experience only one or two pips spread on this market. In addition to the spreads, the Forex infrastructure is well-developed, meaning that the execution of trades is much smoother and simpler. Trading Forex is an exciting, interesting, and educational process. Not only does it provide you with an opportunity to make trades online, but it also educates you on worldwide events.

If you’re interested in trading on the Forex market, click the banner below to start trading today!

About Admiral Markets
Admiral Markets is a multi-award winning, globally regulated Forex and CFD broker, offering trading on over 8,000 financial instruments via the world’s most popular trading platforms: MetaTrader 4 and MetaTrader 5. Start trading today!

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.

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Forex Brokers Checklist

1. Regulation.

It’s common sense that your account should be safer with the regulated brokers, it’s also clear that The Financial Conduct Authority, FCA (UK) or National Futures Association, NFA (US) are preferred regulators to, say, Vanuatu Financial Services Commission, FSC or self-regulatory bodies like FMRPC.

Unfortunately, the strictest regulation does not guarantee a positive trading experience, otherwise we wouldn’t send our members periodic notifications on the outrageous regulators findings like this one.

Advice. To stay informed please Join Forex Peace Army and stay subscribed to our Core Members List, also get our 10 World’s Worst Forex Brokers Report

2. Reputation.

This is the reason why we created Forex Peace Army in 2006. In the past retail forex industry was a barely regulated “wild west” with traders reviews and community discussion as the only source of truthful information about the companies.

We witnessed the very positive changes with regulators in the recent years, but this did not diminish the role of consumer reviews. Our members indicate problems with companies months and even years before regulators step in and dealt with their dirty operations.

What about professional broker reviews some other sites have? Please ask yourself, why would professionals spend time to write these long, well-illustrated, and comprehensive reviews? Additionally, ask yourself, why professional reviews tend to nearly always be overall positive, only occasionally mentioning minor flaws. The obvious answer is that these “professionals” are looking to get compensated for their time.

Traders’ reviews may not look as appealing as professional reviews, but they are unbiased, current (describe what is going on with the company now), and based on actual experiences with the broker. Forex Peace Army is committed to keep its broker reviews as honest as humanly possible; our editors are extremely experienced and have an advanced suite of custom coded tools to enable them to screen out fake, paid, self-promoting reviews as well as fake negative reviews from competitors.

Advice. If you know the name of the forex broker start typing it the “Search by name” box above or browse the list of all brokers. Read the reviews and especially pay attention to the following points:

  • ease of withdrawals
  • ease of deposit
  • cancellation of profitable trades
  • ease of account opening and verification
  • execution speed and reliability
  • slippage
  • stop hunt
  • professionalism of support

Additionally, please search our Scam Alerts Folder for recent traders complaints, and pay attention to alerts posted on review pages.

3. Conditions.

Carefully reading and understanding trading conditions of a particular forex broker is an important part of research that unfortunately often gets overlooked. Let us give you a few examples:

  • if you are planning to use a scalping strategy, high spreads may render your strategy unprofitable
  • if you are planning to profit on news events, pay attention to special trading condition during major economic announcements
  • if your forex robot requires high leverage and low margin requirements, this combination may not be available with this particular broker

Other important factors to research:

  • Minimum deposit
  • Availability of currency pairs, precious metals, oil, crypto currencies
  • Commissions and Fees
  • Competitive rollover fees
  • Trading restrictions, FIFO, minimum open trade time, news trading restrictions, arbitrage restrictions, etc.

Advice. Always carefully read and understand the forex broker’s trading conditions before opening a trading account. Do not hesitate to ask support if you don’t understand something or have additional questions

Next, practice on a demo account at the broker. Do sufficient testing of your trading strategy, forex expert advisor, forex signal service or whatever else you are planning to use with this particular broker. Remember, profitability on a demo account does not always mean a live account will be profitable. Losses on a demo account may underestimate losses on a live account.

If you are happy with everything so far, open small live forex trading account and test it again (including the withdrawal process). Increase the account size gradually.

Keep an eye on the newer reviews for your broker here on Forex Peace Army. Also, after you’ve tested the forex broker’s live trading system thoroughly, please leave a review to share your experience and help other traders.

4. Trading platforms.

There are a few common trading platforms like Metatrader, cTrader, TradingView Web Platform and also proprietary ones developed and maintained by particular fx brokers like Dukascopy’s Jforex (and others too numerous to name here).

A common trading platform like MT4 or MT5 gives you access to the marketplaces full or free and paid trading signals, expert advisors, and other forms of trading ideas. In-house developed platforms often give you access to broker-specific features (like API access for algorithmic trading or connection with Social Trading applications or Money Managers).

Advice. Common platforms like MT4 are a good start for beginner traders. You can download the software with your PC, Mac, or mobile device. You will be able to try many brokers without additional learning curve of proprietary trading platforms and enjoy extensive array of indicators, and trading strategies available through the marketplace.

5. Bonuses.

Who does not like bonuses, freebies, or promotional offers? We do too, but urge you to read the fine print. Some bonus terms are reasonable while many others are traps designed to keep you from withdrawing your money.

Always read and make a copy of the bonus terms before accepting any bonus from a forex broker.

6. Icing on the cake.

As this niche gets more competitive, to attract traders forex brokers often add free useful (and expensive if purchased separately) tools and services for account holders that may include:

  • Educational materials for novice traders.
  • Market news and webinars
  • Forex expert market commentary
  • Economic calendars
  • Calculators and trading tools
  • Technical analysis tools
  • Personalized trading strategy and market advice
  • Reuters or AP/Dow Jones financial newswires
  • Automated strategy builders

You are certainly encouraged to take advantage of such offers.

Advice. Before paying for expensive trading tools or services check if they are available with a good forex broker for free, at substantial discount, or with some minimum account balance.

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