FXTM Review South Africa 2024 Spread, platform & bonus compared!

For instance, if you use Bitcoin to make deposits, you are only able to withdraw funds via Bitcoin. XM and FXTM are both overseen by multiple top-tier financial authorities. As regulation varies between jurisdictions, the investor protection you receive depends on the subsidiary you are signed up to. Leverage for traders in Australia and Europe is in line with the requirements of the regulator ASIC, FCA and CySEC. The MT5 app uses the MQL5 MetaQuotes Language 5 and has some expanded capabilities compared to the MT4 app. For example, the MT4 app has 6 different time frames for technical analysis, while the MT5 app has 21 different time frames to choose from.

Fast account opening

Now we know how to calculate the spread in pips, let’s look at the actual cost incurred by traders. Learn how shares work – and discover the wide range of markets you can spread bet on – with IG Academy’s free ’introducing the financial markets’ course. We also offer an MT4 VPS, which offers low latency and reliable uptime – meaning you’re sure to get fast execution. Our MT4 VPS is hosted by Beeks in London, and it’s the fastest, most reliable VPS on the market. The forex spread may increase if there is an important news announcement or an event that causes higher market volatility. One of the downsides of a variable spread is that, if the spread widens dramatically, your positions could be closed or you’ll be put on margin call.

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1. These accounts offer a viable solution for people who want to make money in the forex market but do not want to trade the market themselves.
2. Yes, the parent company of FXTM is Exinity Limited, and they are licensed as an ODP, with ‘Approved’ application status.
3. An additional spread comparison on the standard account will also be reviewed.

Although, if you want to trade with an ECN type broker then their overall fees (including spread + commission) is much lower than most other brokers. Their Advantage account has low trading commissions per lot, so the overall trading fees is competitive with this account. Both brokers are FCA regulated, ensuring trustworthiness and reliability. If you’re looking for the best trading platforms in the UK, here’s a great resource.

How to open an account

Tight dealing spreads and low commissions on ECN accounts provide an even greater incentive to choose FXTM. In all, FXTM is an excellent choice for a forex and CFD broker https://forexhero.info/ no matter whether you’re just starting out or have been trading for years. The MT4&5 platforms feature state-of-the-art technical analysis and charting options.

FxPro’s deep interbank liquidity allows it to keep spreads ultra-tight across Forex pairs and competitive across Metals and other CFDs, making it a good choice for scalping the markets. By comparison, the FxPro MT4 Instant account is the equivalent of the FXTM’s standard account and the spread on this account starts from 1.5 pips. There are no trading commissions involved – only an all-inclusive bid-ask spread. Both XM and FXTM offer Swap-Free Accounts for traders following Islamic finance practices. As Islamic traders can not pay or receive interest, swap-free accounts do not charge interest-based overnight financing fees (aka swap fees).

A high spread means there is a large difference between the bid and the ask price. Emerging market currency pairs generally have a high spread fxtm forex broker review compared to major currency pairs. If a market is very volatile, and not very liquid, spreads will likely be wide, and vice versa.

Social trading can be a great way for beginners to learn and for experienced traders to diversify their strategies. If you’re interested in exploring more about social trading platforms, here’s a comprehensive guide on the best forex social trading platforms. Overall, FxPro offers slightly more financial instruments and subsequently, more trading opportunities are presented. At FxPro, there are also more asset classes, and traders can explore trading opportunities in the cryptocurrency market and a good selection of futures. However, stock traders can take advantage of slightly more CFD stocks at FXTM.

It is also sometimes beneficial to hold onto a trade during times of spread-widening until the spread has narrowed. A low spread means there is a small difference between the bid and the ask price. It is preferable to trade when spreads are low like during the major forex sessions. A low spread generally indicates that volatility is low and liquidity is high. It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies.

FXTM is regulated in a number of jurisdictions and supports the MetaTrader 4 and 5 (MT4&5) trading platforms and their mobile apps. In addition to forex, you can trade spot gold and silver, as well as CFDs on cryptocurrencies, indices, commodities and over 300 of the largest cap U.S. stocks. FXTM also provides educational webinars and seminars for less-experienced traders.

Discover how to increase your chances of trading success, with data gleaned from over 100,00 IG accounts. Try out what you’ve learned in this shares strategy article risk-free in your demo account. The margin on a forex trade is usually only 3.33% of the value of the trade, which means you can make your capital go further while still getting exposure to the full value of the trade. Note, while margin can magnify your profits, it will also amplify any losses. 3 – FXTM applies dividend adjustments on Stocks and Indices when positions remain open at the close of the trading session, on the business day before the ex-dividend date. However, kindly note that the dividend adjustment takes place before the market opening of the ex-dividend date.

FxPro also offers its own proprietary web trading platform, which grants access to six different asset classes and has a fully customisable interface. With both FXTM and FxPro, Forex traders can choose from a range of popular trading platforms as well as some proprietary software. The MetaTrader 4 (MT4) and MetaTrader 5 (MT5) by MetaQuotes are offered by both forex brokers. Those wanting an ECN-style trading environment may prefer XM’s Zero Account or FXTM’s ECN Account.

And success depends on a trader’s ability to be profitable over time. Forex (also known as FX) is short for foreign exchange the global marketplace to buy and sell foreign currencies. Take advantage of exciting opportunities across US, Asian and European markets. Come along to the FXTM Academy Seminar, an in-person introduction to the financial markets.

XM offers a significantly lower minimum deposit across its account types (Standard, Micro, and Ultra Low all at $5), making it a more accessible choice for traders on a budget. FXTM offers swap-free options for Standard, Cent, ECN and ECN Zero Accounts. When trading with FXTM, swap-free account holders are required to use MT4, with no access granted to MT5. Additionally, you are only able to trade major and minor currency pairs, with no exotic fx pairs available to swap-free accounts. The broker’s ECN Zero Account is similar to its pure ECN Account, except traders pay no commission fees on top of the spread. As with FXTM’s Cent Account, the ECN Zero Account smaller offers contract sizes for more precise trading.

If you are looking to open a Trading Account in ZAR currency then you can choose from this list of ZAR Account forex brokers which includes regulated brokers like Hotforex. The withdrawal fees with most methods is not too high, but still there are some other brokers like Tickmill & HotForex that charge zero fees/commissions on withdrawals. Their spread is high with the Micro account, but the total trading fees with their ECN type Advantage Account is quite low. Read our FXTM review to know about their fees, accounts, support & more.. While both brokers offer a commendable trading experience, FXCM edges out slightly due to its user-friendly interface and streamlined mobile app.