Overview
FXTM is a leading Forex and CFD broker, which has to date won several coveted awards and trades under the name ForexTime Limited. This broker is regulated by several financial watchdogs across the globe, including the UK’s Financial Conduct Authority (FCA), and it is thus considered a trusted and secure venue for your trading endeavors. Moreover, it enjoys huge popularity amongst traders of all levels, from beginner to pro, and its users consider the user experience it provides as top-notch.Things we didn't like:
FXTM charges inactivity and withdrawal fees.High financing costs for overnight positions
Limited product portfolio
| # | Exchage's Features | FXTM Availability |
|---|---|---|
| # | Commissions | ✔ |
| # | Hedging | ✔ |
| # | PAMM | ❌ |
| # | Scalping | ✔ |
| # | Accepts US traders | ❌ |
| # | 24 hour trading | ✔ |
| # | Swaps | ✔ |
| # | Demo account | ✔ |
| # | Daily analysis | ✔ |
| # | Automated trading | ✔ |
| # | Mobile trading | ✔ |
| # | Trading by phone | ✔ |
| # | 1st deposit bonus | ❌ |
| # | Forex contests competitions | ✔ |
| # | Bonuses Promotions | ✔ |
| # | Interest charges on the balance | ❌ |
| # | Free education | ❌ |
| # | Expert advisors | ❌ |
| # | Partnership programs | ❌ |
| # | Trust management | ❌ |
| # | 24 hour support | ✔ |
Why would you want an alternative to FXTM?
Though FXTM is a reputable and well-established forex brokerage, licensed in several jurisdictions and with an impressive track record, especially when it comes to its endeavors to offer its clients solid forex and trading education, it may not be the first choice for all existing or aspiring traders.
More specifically, you might be better off seeking an alternative to FXTM if you wish to trade in an environment other than the MT4 platform since FXTM only offers this particular platform. Moreover, and depending on your trading preferences and style you might want to seek an alternative brokerage to FXTM in order to ensure more competitive spreads, especially if you are planning to trade via a standard account.
Finally, you might want to look for another broker if the tradeable assets offering at FXTM is not adequate for your own specific needs or if you wish to trade less popular assets in order to effective diversify your investment portfolio.
What other users do not like about FXTM
FXTM TrustPilot Customer Reviews, Feedback and Complaints
On Trustpilot, FXTM has currently 823 number of reviews with a TrustScore (the overall measurement of reviewer satisfaction) of 3.30/5.00.
Main Complains according to the Users' Reviews
- Unacceptable Trading Practices
- Worst ever deposit experience
What to look for in a FXTM Alternative?
When seeking an FXTM alternative make sure the brokers you will consider fare better or at least equal the offering of FXTM, at least in those aspects which interest you the most. An FXTM alternative should have more assets available for trading and charge more competitive trading fees, but these advantages will mean much less if at the same time the alternative broker does not offer trading via a platform that is intuitive and easy to use, such as the MT4 which is used by FXTM, or if it's not regulated or enjoy a reputation which will inspire your trust and allow you to trade with confidence.
Best FXTM alternatives – forex brokers like (or better than) FXTM
4.3 / 5
Rating breakdown
Things we liked:
Up to 500:1 leverageLow minimum deposit requirement
Things we didn't like:
Absence of a direct telephone number for customer supportOspreyfx is not a fully licensed and regulated broker
OspreyFX Overview
Named after the very large, distinctively shaped, fish preying hawk, which suitably decorates the brand’s logo, OspreyFX is a relatively new entrant in the world of forex brokerages, aiming to offer existing and aspiring traders an innovative venue in which they can satisfy all their trading needs, including the trading of cryptocurrencies.
4.2 / 5
Rating breakdown
Things we liked:
AvaTrade has low trading feesThe account opening is user-friendly and fast
It offers a lot of deposit and withdrawals options free of charge
Things we didn't like:
The product portfolio is limited as it offers only CFDs, forex, and cryptosThe research tools are limited
AvaTrade Overview
Since its establishment in 2006, AvaTrade has expanded to 11 countries and offers an array of trading platforms for web, desktop, and mobile use. It facilitates trading in spot forex, forex options, and CFDs across various asset classes, including cryptocurrencies. AvaTrade boasts 300,000 registered traders executing over 3 million trades monthly, with a total traded value exceeding $1.47 trillion.
4.0 / 5
Rating breakdown
Things we liked:
XM has low trading feesThe account opening is user-friendly and fast
Lots of educational tools
Things we didn't like:
XM has a limited product portfolioThe research tools are limited
It charges inactivity fees
XM Overview
XM is a CySEC, ASIC and IFSC regulated, multi-asset class broker offering to trade on more than 1,000+ tradable CFD’S on Forex, Stocks, Commodities, Indices, Metals and Energies on the globally-recognised trading platforms MetaTrader 4 and MetaTrader 5 for PC, Mac, Web, iOS and Android systems.