FXTM was launched in 2011 in Cyprus and later extended their offices to Nigeria and the United Kingdom. It is registered and regulated by the CySEC, FCA in UK, IFSC in Belize and IFSC.
Minimum Deposit to start with this broker is $5, but there are other account types where you have to deposit a minimum of $500. Minimum Lot size is 0.01 lots as usual. Scalping is allowed with a margin call level of 80%. Profiforex has a margin level and stop out level of 15%, which is fairly better.
FXTM spreads and commission
Typical spread for some major spreads are EURUSD 0.6, AUDUAD 1.4, GBPUSD 0.9 etc. Profiforex is more advantageous when it comes to spreads as you will get 2 times lower spreads.
FXTM offers commission free accounts, such as ECN Zero and Pro accounts. The ECN mt4 account holds a commission of $4 for a full deal. It is considerable low commission when compared to other brokers.
Trading Instruments and Platforms
The broker offers Forex, Metals, CFD, Oil and Futures. Each instrument can be traded with a leverage of 1:500. Platform offered are MetaTrader 4 & 5.
FXTM Payment methods
The broker offers the following payment method: Bank Card (Visa/Master cards), Bank Wire Transfer, Skrill, neteller, Western Unoin, Payza, Yandex, Baidu, Webmoney and Alsfa-Ckick.
FXTM is regulated by three agencies. The broker offers negative balance protection, which means clients cannot lose more than they have deposited. Also, the broker promised to compensate traders in the event of broker insolvency.