CFA Franc Forex Trading Accounts
Scam Forex Brokers in Cameroon
FXTM Review
Overall FXTM is considered low-risk, with an overall Trust Score of 93 out of 100. The broker is licensed by one Tier-1 Regulator (high trust), three Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). In addition, they offer three different retail trading accounts: a Micro Account, an Advantage Account, and an Advantage Plus Account.
- Kayla Duvenage
Jump to:
Overview
Regulation and Safety of Funds
Awards and Recognition
Account Types and Features
Account Registration
Broker Comparison
Trading Platforms
Range of Markets
Fees
Deposit and Withdrawels
Education and Research
Bonuses and Promotions
Affiliate Programs
Customer Support
Social Responsibility
Final Verdict
Pros and Cons
FAQ
Overall Rating
- 4.7/5
Min Deposit
10 USD / 6,000 XAF
Regulators
CySec, FSC
Trading Desk
MT4, MT5, Mobile Trading
Crypto
Yes
Total Pairs
60+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Overview
FXTM is a forex and CFD broker that allows Cameroonians to trade. It is currently one of the top-rated platforms, ranking second out of 984 in Cameroon Forex broker reviews.
They are a global CFD and forex broker regulated by the FCA, CySEC, FSCA, CMA, and FSC. It provides various products, including stocks, forex, CFDs, and cryptocurrency.
The broker is distinguished by its low trading fees, low forex fees, and low financing rates. The account opening process is quick, digital, and simple.
They accept various deposit and withdrawal methods, including credit and debit cards. It also provides segregated accounts at top-tier banks, ensuring client investments are always secure and protected.
The broker has a spotless track record and follows a stringent regulatory framework. Furthermore, Muslim traders can register a live trading account that can be converted to an Islamic Account.
Distribution of Traders
The broker currently has the largest market share in these countries:
️ United Kingdom – 61.92%
️ Vietnam – 12%
️ India – 6.69%
️ Malaysia – 5.4%
️ Bangladesh – 3.3%
Popularity among traders
The broker is one of the Top 25 forex and CFD brokers in Cameroon.
Is FXTM available in the United States?
No, FXTM does not currently provide its services to US residents.
Are there any countries where FXTM is restricted?
Yes, the broker is prohibited in certain countries due to regulatory restrictions, including the United States and North Korea.
At a Glance
| 🏛 Headquartered | Cyprus |
| ✅ Global Offices | Cyprus, Mauritius, Kenya, Nigeria, India, Indonesia, South Korea, South Africa, United Kingdom |
| 🗓 Year Founded | 2011 |
| 📞 Cameroon Office Contact Number | None |
| 🤳 Social Media Platforms | Facebook, X, LinkedIn, Instagram, YouTube, Telegram |
| ⚖️ Regulation | CySEC, FSCA, FCA, CMA, FSC Mauritius |
| 🪪 License Number | Cyprus – 185/12 South Africa – FSP 46614 United Kingdom – 777911 Kenya – 135 Mauritius – C113012295 |
| ⚖️ BEAC Regulation | No |
| 🚫 Regional Restrictions | The United States, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus, Hong Kong |
| ☪️ Islamic Account | Yes |
| 💻 Demo Account | Yes |
| 🛍 Retail Investor Accounts | 3 |
| 📊 PAMM Accounts | MAM |
| 🤝 Liquidity Providers | Top-tier global banks, exchanges, and major financial institutions |
| 💸 Affiliate Program | Yes |
| 📲 Order Execution | Instant and Market |
| 📊 Starting spread | 0.0 pips, variable |
| 📞 Margin Call | 60% to 80% |
| 🛑 Stop-Out | 40% to 50% |
| ✅ Crypto trading offered? | Yes, CFDs |
| 💰 Offers a XAF Account? | No |
| 👨💻 Dedicated Cameroon Account Manager? | No |
| 📊 Maximum Leverage | 1:2000 |
| 🚫 Leverage Restrictions for Cameroon? | No |
| 💰 Minimum Deposit | 10 USD / 6,030 XAF |
| ✅ XAF Deposits Allowed? | No |
| 📊 Active Cameroon Trader Stats | 200,000+ |
| 👥 Active Cameroon-based FXTM customers | Unknown |
| 💳 Cameroon Daily Forex Turnover | $5 trillion+ (Overall Forex Globally) |
| 💵 Deposit and Withdrawal Options | Local Indian Payment Methods (UPI and Netbanking) Local Nigerian Instant Bank Transfers Equity Bank Transfer Ghanaian Local Transfer Africa Local Solutions M-Pesa FasaPay TC Pay Wallet Debit/Credit Cards Google Pay GlobePay Skrill PayRedeem Perfect Money Neteller Bank Wire Transfer |
| 🏦 Segregated Accounts with Cameroonian Banks? | No |
| 📊 Trading Platforms | MetaTrader 4, MetaTrader 5, FXTM Trader |
| ✔️ Tradable Assets | Forex Forex Indices Spot Metals CFD Kenya Stocks Kenya Stocks CFD US Stocks US Stocks Hong Kong Stocks CFD EU Stocks Spot Commodities Spot Indices Stock Baskets Cryptocurrency CFDs |
| 💸 Offers USD/XAF currency pair? | No |
| 📈 USD/XAF Average Spread | None |
| 📉 Offers Cameroonian Stocks and CFDs | No |
| 🗣 Languages supported on Website | English, Arabic, Chinese (Simplified), Chinese (Traditional), Czech, French, Hindi, Indonesian, Polish, Spanish, Italian, Korean, Malay, Russian, Thai, Vietnamese, Persian, Urdu |
| 📞 Customer Support Languages | Multilingual |
| ⏰ Customer Service Hours | 24/5 |
| 👥 Cameroonian-based customer support? | Yes |
| ✅ Bonuses and Promotions for Cameroon Traders | Yes |
| 📚 Education for Cameroonian beginners | Yes |
| 📱 Proprietary trading software | Yes |
| 💰 Most Successful Trader in Cameroon | Unknown |
| ✅ Is FXTM a safe broker for Cameroonian traders? | Yes |
| 📊 Rating for FXTM Cameroon | 9/10 |
| 🤝 Trust score for FXTM Cameroon | 93% |
| 🎉 Open an account | Open Account |
Safety and Security
Regulation in Cameroon
The broker is not currently regulated by the Bank of Central African States (BEAC).
Security while Trading
FXTM is concerned about securing its clients’ funds and personal information. The broker keeps its clients’ funds separate in top-tier banks, ensuring their investments are always safe and secure.
This means client funds are kept separate from company funds and will not be used for company operations or investment.
Furthermore, the broker has implemented appropriate technical and organizational safeguards to ensure the security of its clients’ data and to prevent unauthorized or unlawful processing, accidental loss, destruction, alteration, disclosure, or damage to such data.
FXTM adheres to a strict regulatory framework and is regulated by top-tier authorities such as the FSCA in South Africa, the UK’s FCA, Cyprus’s CySEC, and Mauritius’ FSC. Transparency, security, and accountability are all ensured when trading with a regulated broker.
Does FXTM offer fund segregation?
Yes, to increase security, the broker separates client funds from operational finances.
What encryption technology does FXTM use?
They encrypt data transmissions between traders and their servers using Secure Sockets Layer (SSL) technology.
Awards and Recognition
The broker received the following recent awards and recognition:
Best Trading Experience at the 2020 World Finance Forex Awards Best Educational Program in 2023 – World Financial Award Most Trusted Forex Broker (2023) – World Financial Award.
World Financial Award for Best Islamic FX Account in 2023.
The World Financial Award for the Best Mobile App (2023).
In the World Finance Awards, two awards were given for best customer service and trading conditions in 2017 and 2018, respectively.
The World Finance Forex Awards named Best FX Broker Asia and Best Trading Conditions in 2018.
The Global Brands Magazine Awards was named the Best Forex Broker in Nigeria in 2018.
Has FXTM received any industry awards?
Yes, the broker has earned numerous industry awards for its excellence in the field of online trading.
What are some notable awards that FXTM has won?
The broker has been honoured with awards such as “Best Trading Experience” and “Best Forex Broker” in recognition of its outstanding performance and contributions to the financial industry.
FXTM Account Types and Features
Micro Account
The Micro Account caters to novice and seasoned traders eager to test their trading skills. This account allows for true-to-life market conditions, with the added benefit of minimizing potential losses as all trades are valued in cents.
| Account Features | Value |
| 💰 Minimum Deposit Requirement | 10 USD / 6,030 XAF |
| 📊 Average spreads | Floating from 1.5 pips EUR/USD |
| 💱 Trading Instruments available | Forex Metals Commodities Indices Forex Indices Stock Baskets |
| 💳 Commission charges | None |
| 📱 Platforms Supported | MetaTrader 4, FXTM Trader |
| 🌐 Base Account Currency | US Cent, EU Cent, GBP Pence, or Nigerian kobo |
| 🚀 Leverage and Margin | Forex – from 1:3 to a maximum of 1:1000 (Fixed) Metals – up to a maximum of 1:500 (Fixed) |
| 📈 Order Execution | Instant Execution |
| 🎉 Open an account | Open Account |
Advantage Account
The Advantage Account is a sought-after option that boasts enticing features, such as starting spreads of zero for major forex pairs.
The Advantage Account provides excellent pricing solutions, with Gold/US Dollar (XAUUSD) presenting notably low spreads starting from zero and other significant forex pairs experiencing similar favourable conditions.
Additionally, this account enables access to various instruments encompassing stocks, indices, and commodities. Thanks to this exceptional type of account, a remarkable highlight is the chance to engage in commission-free stock trading on FXTM’s MT5 platform.
| Account Features | Value |
| 💰 Minimum Deposit Requirement | 500 USD / 301,500 XAF |
| 📊 Average spreads | From 0.0 pips EUR/USD |
| 💱 Trading Instruments available | Forex Precious Metals Commodities Indices Forex Indices Stock Baskets Stock CFDs on MetaTrader 5 Individual Stocks on MetaTrader 5 |
| 💳 Commission charges | An average between $0.40 and $2, according to the trading volume |
| 📱 Platforms Supported | MetaTrader 4, MetaTrader 5, FXTM Trader |
| 🌐 Base Account Currency | USD, EUR, GBP, or NGN |
| 🚀 Leverage and Margin | Up to 1:2000 (floating) |
| 📈 Order Execution | Market Execution |
| 🎉 Open an account | Open Account |
Advantage Plus Account
The Advantage Plus Account shares similarities with the Advantage account as both provide commission-free trading options.
Nevertheless, wider spreads are incurred in exchange for waived commissions – a distinction from the Advantage account. Furthermore, this type of account best suits experienced traders who prioritize commission-free trades despite bearing spread costs.
| Account Features | Value |
| 💰 Minimum Deposit Requirement | 500 USD / 301,500 XAF |
| 📊 Average spreads | From 1.5 EUR/USD |
| 💱 Trading Instruments available | Forex Precious Metals Commodities Indices Forex Indices Stock Baskets Stock CFDs on MetaTrader 5 Individual Stocks on MetaTrader 5 |
| 💳 Commission charges | None |
| 📱 Platforms Supported | MetaTrader 4, MetaTrader 5, FXTM trader |
| 🌐 Base Account Currency | USD, EUR, GBP, or NGN |
| 🚀 Leverage and Margin | Up to 1:2000 (floating) |
| 📈 Order Execution | Market Execution |
| 🎉 Open an account | Open Account |
Demo Account
The demo account caters to novice and seasoned traders by providing an authentic setting. Users benefit from a 30-day trial period where they can navigate the platform, experiment with various strategies, and hone their skills without incurring any expenses.
Furthermore, customization features enable users to closely tailor a trading environment that mirrors real-world conditions. Accessible markets include forex, commodities, indices, and stocks, allowing for comprehension of diverse market operations and connections.
A remarkable attribute of this program is its compatibility with Expert Advisors (EAs), which are automated systems executing transactions based on predetermined rules. These EAs empower traders before employing risk-free testing options in live accounts.
Islamic Account
The broker allows traders to open a swap-free or Islamic account that adheres to halal trading principles. These accounts ensure interest is not given nor received and waive overnight/swap fees on leveraged positions, replacing conventional interest with alternative frameworks.
Additionally, the Islamic accounts abide by the guidelines of Islamic finance and avoid involvement in industries such as alcohol, gambling activities, pork products, weapon manufacturing & trading.
Swap-free options are available for all account types, including Micro Advantages and Advantage Plus. However, commissions may vary depending on the chosen type, which could incur an extra fee instead of regular swaps. Expect wider spreads and potential additional charges if opening an Islamic account.
Do all FXTM account types offer the same leverage?
No, leverage options vary depending on the type of account.
Can I switch between FXTM account types?
Yes, you can request to change between account types.
How to open an Account
To open an account, Cameroonians can follow these steps:
Step 1 – Go to the Official FXTM website
Visit the website for FXTM and select the “Open Account” link.
Step 2 – Fill Out Your Details
Include your first and last name, country of residence, mobile phone number, and email address in the fields provided.
FXTM Vs BDSwiss Vs IC Markets – Broker Comparison
| FXTM | BDSwiss | IC Markets | |
| ⚖️ Regulation | CySEC, FSCA, FCA, CMA, FSC Mauritius | CySEC, FSC, BaFIN, FSA | ASIC, CySEC, FSA, SCB |
| 📱 Trading Platform | MetaTrader 4, MetaTrader 5, FXTM Trader | MetaTrader 4 MetaTrader 5 BDSwiss Mobile BDSwiss Web | MetaTrader 4 MetaTrader 5 cTrader |
| 💰 Withdrawal Fee | Yes | Yes, <100 EUR withdrawals | None |
| 📊 Demo Account | Yes | Yes | Yes |
| 📈 Minimum Deposit | 10 USD / 6,030 XAF | 10 USD / 6,030 XAF | 200 USD / 120,600 XAF |
| 📈 Leverage | 1:2000 | Up to 1:1000 | 1:500 |
| 📊 Spread | 0.0 pips, Variable | From 0.3 pips | From 0.0 pips |
| 💰 Commissions | From $0.4 to $2 | $2 to $5 | From $3 to $3.5 |
| ✴️ Margin Call/Stop-Out | 40% to 50% (M) 60% to 80% (S/O) | 50%/20% | 100%/50% |
| ✴️ Order Execution | Market, Instant | Instant/Market | Market |
| 💳 No-Deposit Bonus | No | No | No |
| 📊 Cent Accounts | No | In Progress | No |
| 📈 Account Types | Micro Account, Advantage Account, Advantage Plus Account | Classic Account Premium Account VIP Account RAW Account | cTrader Account Raw Spread Account Standard Account |
| ⚖️ BEAC Regulation | No | No | No |
| 💳 XAF Deposits | No | No | No |
| 📊 XAF Account | No | No | No |
| 👥 Customer Service Hours | 24/5 | 24/5 | 24/7 |
| 📊 Retail Investor Accounts | 3 | 4 | 3 |
| ☪️ Islamic Account | Yes | Yes | Yes |
| 🎉 Open an account | Open Account | Open Account | Open Account |
Overall Rating
- 4.7/5
Min Deposit
10 USD / 6,000 XAF
Regulators
CySec, FSC
Trading Desk
MT4, MT5, Mobile Trading
Crypto
Yes
Total Pairs
60+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Trading Platforms
The broker offers Cameroonian traders a choice between these trading platforms:
MetaTrader 4
MetaTrader 5
FXTM Trader
MetaTrader 4
Using the powerful MetaTrader 4 platform, investors can monitor markets in real-time and effectively manage trades. Known for its user-friendly interface, advanced charting features and wide range of technical analysis tools, MT4 is an essential tool for traders.
The broker enhances this experience by introducing its trading interface on the MT4 platform, which grants access to various financial instruments across various markets. Automated trading strategies are also possible with Expert Advisors (EAs).
MetaTrader 5
Through live evaluations, traders can use MetaTrader 5 to execute transactions efficiently while staying informed of current market trends. This adaptable platform allows trouble-free trading across various financial sectors, including commodities, forex markets, equities, and CFDs.
The broker provides users with a highly capable tool that maximizes the potential of MT5. In addition to numerous order options available in various time zones, their software includes an innovative economic calendar feature, which improves overall user satisfaction.
FXTM Trader
With FXTM’s distinctive mobile trading app, traders can access their portfolios and execute transactions securely anywhere.
The layout of this app is user-friendly and enhances the overall trading experience by displaying real-time valuations with multiple instrumental tools to smoothen up the process further.
By using this application on handheld devices, traders efficiently monitor market fluctuations while overseeing positions simultaneously through diagrams & analytical equipment for making well-informed choices about trades.
Which trading platforms does FXTM offer?
The broker provides trading platforms MetaTrader 4, FXTM Trader, and MetaTrader 5.
Can I use Expert Advisors (EAs) on FXTM’s platforms?
Yes, Expert Advisors are supported by MetaTrader 4 and 5.
Range of Markets
Cameroonian traders can expect the following range of markets:
Forex
Forex Indices
Spot Metals
CFD Kenya Stocks
Kenya Stocks
CFD US Stocks
US Stocks
Hong Kong Stocks
CFD EU Stocks
Spot Commodities
Spot Indices
Stock Baskets
Cryptocurrency CFDs
Does FXTM offer forex trading?
Yes, the broker allows you to trade a wide variety of forex pairs.
Can I trade indices on FXTM?
Yes, you can trade various global indices with FXTM.
Broker Comparison for a Range of Markets
| FXTM | BDSwiss | IC Markets | |
| ➡️️ Forex | Yes | Yes | Yes |
| ➡️️ Precious Metals | Yes | Yes | Yes |
| ➡️️ ETFs | No | No | No |
| ➡️️ CFDs | Yes | Yes | Yes |
| ➡️️ Indices | Yes | Yes | Yes |
| ➡️️ Stocks | Yes | Yes | Yes |
| ➡️️ Cryptocurrency | Yes | Yes | Yes |
| ➡️️ Options | No | No | No |
| ➡️️ Energies | Yes | Yes | Yes |
| ➡️️ Bonds | No | No | No |
FXTM Fees, Spreads, and Commissions
Spreads
Spread rates at the broker are variable and depend on several factors. These factors include the type of account used, the specific financial instrument being traded, and the day’s market conditions.
Below is a breakdown of average spreads based on different trading accounts:
Micro Account – from 1.5 pips EUR/USD
Advantage Account – from 0.0 pips EUR/USD
Advantage Plus Account – from 1.5 pips EUR/USD.
Commissions
Commission fees only apply to the Advantage Account, which offers FXTM’s tightest spreads (also known as zero pip spreads). Commissions on trades executed through this account range from $0.40 to $2 per trade, depending on the trader’s overall activity level.
Overnight Fees
If a trader leaves a position open overnight, their account will be charged or rewarded with overnight fees. The broker charges transparent and explicit fees based on variables such as the trading instrument used, the size of the held position, and the length of time it is held.
Deposit and Withdrawal Fees
The broker does not charge any deposit fees. However, the following withdrawal fees apply:
African Local Solutions – 1 USD
FasaPay – 0.5%
Credit/Debit Cards – 3 USD, 2 EUR, or 2 GBP
Bank Wire Transfer – 30 EUR
Perfect Money – 0.5%
Inactivity Fees
The broker applies a monthly inactivity fee of $5 to dormant accounts after 6 months.
Currency Conversion Fees
Currency conversion fees could apply when Cameroonian traders deposit or withdraw in XAF.
Does FXTM charge a commission on trades?
Yes, the broker charges commissions on the Advantage Account.
How competitive are FXTM’s spreads?
The broker offers competitive spreads, with some account types offering spreads as low as 0 pips.
FXTM Deposits and Withdrawals
The broker offers Cameroon traders the following deposit and withdrawal methods:
Local Indian Payment Methods (UPI and Netbanking)
Local Nigerian Instant Bank Transfers
Equity Bank Transfer
Ghanaian Local Transfer
Africa Local Solutions
M-Pesa
FasaPay
TC Pay Wallet
Debit/Credit Cards
Google Pay
GlobePay
Skrill
PayRedeem
Perfect Money
Neteller
Bank Wire Transfer
Are there any deposit limits with FXTM?
Yes, deposit limits are determined by the method used and the type of account.
Can I withdraw funds to a different payment method than I used for depositing with FXTM?
No, withdrawals must be made using the same payment method used to deposit.
How to make a Deposit
To deposit funds to an account, Cameroonian traders can follow these steps:
Step 1 – Click on the login button.
Sign in to your MyFXTM Dashboard account.
Step 2 – Locate the “Deposit funds” section.
Proceed to “My Money”> “Deposit funds.”
Step 3 – Choose a deposit method.
Select your preferred deposit method, then click the “Deposit” button.
How to Withdraw Funds
To withdraw funds from an account, Cameroonian traders can follow these steps:
Step 1 – Click on the login button.
Access your MyFXTM Dashboard.
Step 2 – Locate the “Withdraw funds” section.
Select ‘My Money’> ‘Withdraw funds’.
Step 3 – Choose a withdrawal method.
Select your preferred withdrawal method and click the ‘Withdraw’ button.
Education and Research
The broker offers the following Educational Materials to Cameroonian traders:
Forex trading guides
Forex trading strategies
eBooks
Forex Glossary
Educational Videos
Articles and tutorials
The broker also offers Cameroonian traders the following additional Research and Trading Tools:
Daily Market Analysis
Podcasts
Economic Calendar
Forex Market News Timeline
Market Analysis Videos
Is there an FXTM demo account for educational purposes?
Yes, the broker provides a demo account where you can practice trading without risk.
Does FXTM offer market analysis and research?
Yes, they offer market analysis and research reports to assist traders in making sound decisions.
Overall Rating
- 4.7/5
Min Deposit
10 USD / 6,000 XAF
Regulators
CySec, FSC
Trading Desk
MT4, MT5, Mobile Trading
Crypto
Yes
Total Pairs
60+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Bonus Offers and Promotions
The broker offers Cameroonian traders the following bonuses and promotions:
Refer a friend promotion
The broker has a referral bonus program that allows customers to earn cash rewards for referring friends and family to the platform. Clients can earn extra money by introducing their friends and family members to the benefits of trading with the broker through the referral bonus program.
Clients must create a MyFXTM profile and locate their unique referral link to participate in the referral bonus program. They can forward this link to their friends and family members, who can then use it to open a live trading account.
The client will receive a $50 cash reward for each referral who successfully registers and opens an account. The referral bonus program has a maximum payout of $10,000 in real, withdrawable cash.
It is important to note that the referral bonus program is subject to terms and conditions that vary depending on the promotion and the country of residence. Before participating in the referral bonus program, clients should carefully read the terms and conditions.
Does FXTM offer a welcome bonus for new traders?
No, the broker does not provide a welcome bonus to newly registered Cameroonians.
Do FXTM bonuses have withdrawal conditions?
Yes, most bonuses have specific withdrawal conditions outlined in the terms and conditions.
Affiliate Program Features
The Affiliate Program provides a comprehensive set of features to its affiliates. The earning potential is one of the most appealing aspects; affiliates can earn up to $800 CPA for each qualified active trader they refer.
The broker guarantees on-time monthly payments with no restrictions on earnings and provides various payment options to suit the preferences of its affiliates.
Various marketing materials are available to aid in promotion, including banners highlighting FXTM’s benefits and ongoing promotions. Registration forms, pip and profit calculators, live currency rate feeds, and a currency converter are also included in the program.
Affiliates can closely monitor their clients’ activities using innovative graphs and detailed reports accessible through an easy-to-use interface.
Links to social media platforms such as Facebook, YouTube, Twitter, and Instagram are provided for those looking to expand their reach.
A cookie window of 30 days ensures that traders are correctly attributed to the affiliate, ensuring appropriate compensation. To top it all off, the broker provides its affiliates with ongoing support and guidance, ensuring they have the necessary resources to succeed.
Is there a tiered affiliate program?
Yes, the broker provides three affiliate levels, each with its benefits.
Are payments guaranteed for affiliates?
Yes, affiliates receive guaranteed payments, ensuring consistent income.
How to open an Affiliate Account
To register an Affiliate Account, Cameroonian traders can follow these steps:
Step 1 – Locate the Affiliate section.
Navigate to the FXTM Affiliates page.
Step 2 – Click on the “Register Now” option.
Select the “Register Now” option.
Step 3 – Fill out the form.
Fill out and submit the registration form with your personal information.
Customer Support
| ⏰ Operating Hours | 24/5 |
| 👥 Support Languages | Multilingual |
| 💬 Live Chat | Yes |
| 💻 Email Address | Yes |
| 📱 Telephonic Support | Yes |
| ✔️ The overall quality of Admirals Support | 4/5 |
Can I contact FXTM customer support for account-specific issues?
Yes, customer service can help with account-specific issues and questions.
Is there an option for remote assistance?
No, the broker makes no public mention of providing remote troubleshooting assistance.
Verdict
Overall FXTM’s trading costs are among the lowest in the industry, making it a top choice for high-frequency traders.
It excels in stock trading with low commissions, making it attractive to long-term investors and active traders. The broker offers a variety of account options, more than 30 payment methods, and cryptocurrency trading.
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Pros and Cons
| ✔️ Pros | ❌ Cons |
| The broker has low trading commissions, forex commissions, and financing rates | CFD fees are expensive |
| FXTM’s Account opening is a quick and entirely digital process | Education services are lacking, and the product portfolio is limited |
| Credit/debit cards are accepted as deposit and withdrawal methods | There are wide spreads charged across instruments and account types |
| The broker has segregated accounts at top-tier banks to ensure that client investments are always secure and protected | The customer service, according to users, can be unprofessional and slow |
| Top-tier authorities oversee the broker, ensuring transparency, security, and accountability | Without explanation, withdrawal of funds may be delayed for several weeks or even months |
| They offer three flexible account types | Withdrawal fees apply |
| Traders can use any strategy | There are inactivity fees charged |
| Traders can easily use automated programs and bots |
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Frequently Asked Questions
What trading platforms does FXTM offer?
The broker primarily provides MetaTrader 4 and MetaTrader 5, which are well-known for their sophisticated trading tools.
How long does it take to withdraw from FXTM?
Withdrawals are processed quickly, but funds could take a few minutes up to five working days to reflect in your bank account.
How do I open an account with FXTM?
You can open a trading account on the website, where you can choose from various account types to suit your trading needs.
Does FXTM have VIX 75?
No, the broker does not offer the Volatility 75 as part of its product portfolio.
Does the broker have Nasdaq 100?
Yes, as with other brokers, the Nasdaq 100 is a typical instrument that Cameroonian traders will find with the broker, usually as a CFD on indices.
Does FXTM provide educational resources?
To help traders improve their skills, they provide a variety of educational materials such as eBooks, videos, and webinars.
What is FXTM Invest?
FXTM Invest is a trading platform that allows you to copy the trades of experienced traders.
Is FXTM Safe or a Scam?
The broker is safe. Furthermore, apart from being well-regulated, they have robust security features and keep all client funds segregated in top-tier bank accounts, away from their own operational funds.
Is FXTM regulated?
Yes, several entities regulate the broker, including CySEC, FSCA, FCA, CMA, and the FSC.
Corporate Social Responsibility
There is currently no information regarding FXTM’ Corporate Social Responsibility initiatives or projects.