Please be informed that spread offered on our accounts is floating and depends on the trading account type, as well as on the market conditions. Prices of different instruments are quoted from various liquidity providers. Different brokers will have different trading conditions and competitiveness. foreign currency convertible bonds FXTM quotes price directly from liquidity providers with the most competitive prices, hence it is floating spread. On our Advantage and Advantage Plus accounts, orders are executed at the current market quotes, each separately taken position is automatically brought to the external market.

Who is lesiba mothupi?

Lesiba Mothupi is a well skilled entrepreneur with a great track record for growth in the trading market. Mr Mothupi is founder and CEO of Forex Chasers one of South Africa's top Forex trading institutions.

Secondly the four hour candle traded on did not appear or was not active on the chart. Thirdly there was manipulation on price, other brokers open with gap prior to news release yesterday but fxtm did not. Lastly fxtm stoped me out of trade without my concernt and with my active margin. Therefore I want them charge to return back my money soonest. I have proves both videos and photo images which are readily available for your further reference. I am vexed seriously and I am going to close my account with FxTm after withdrawing everything left in the account.

Replenishment and withdrawal of funds

Yet, you should always consult with customer service and confirm data, as various jurisdictions may apply slightly different rules. Also, give it some days for the payment provider to process the transaction that also depending on particular international or provider rules. However, always make sure to verify under which entity you will trade as FXTM offering may be slightly different for Forextime Limited, ForexTime UK or Exinity Limited.

Is FXTM regulated in South Africa?

FXTM is a FSCA regulated Forex broker that operates in South Africa. They were founded in 2011 & claim to have more than 1 million registered users now. They are highly regulated globally by top-tier Financial regulators in UK, Cyprus.

Web and mobile trading platforms allow traders to enjoy trading. Market analysis, technical support, and trading tools are available here. Traders of all experience levels can take advantage of tight spreads, low commissions and an ultra-fast market research platform. Plus, ForexTime places great emphasis on the importance of education and enables traders to improve their skills through online FX courses, local seminars and frequent webinars. We can say that FXTM is a broker for all types of traders.

If there is a way i want fxtm to close

FXTM offers multiple options of platforms (MT4/MT5/FXTM Trader) as well that will surely fit any type of trader, both beginner and professional. The security of our finances and investments is our top priority as traders. FXTM understands this and that is why the brand all its services octafx broker reviews offers full segregation of funds for retail clients. These funds are kept in top-tier banks and fully segregated from the assets of the firm. The standard FXTM account is a popular choice among many traders with the broker and is available to traders under CySEC regulation.

This is something that definitely warrants some though so we will touch on this a little more below. There are more than 2million traders now using FXTM as their broker of choice and it is in no small part due to their commitment at each stage to deliver what the user needs. Demo accounts are possible on Standard, Cent and ECN accounts to give you a real feel for what you will be getting into once you deposit and start trading for real. FXTM also offers Islamic trading accounts, although they are only available with MT4 and not with MT5.

Our FXTM review found that a company called Exinity Limited is behind ForexTime Ltd in Mauritius. This is deeply troubling, as the FSC of Mauritius has much lower standards than the FCA, FSCA, or CySEC. Users that believe they are accessing services within the jurisdiction of those agencies could actually be trading with an offshore company. Trading Forex, CFD, Binary Options, and other financial instruments carries a high risk of loss and is not suitable for all investors. The information and videos are not an investment recommendation and serve to clarify the market mechanisms. The texts on this page are not an investment recommendation.

In this case, instead of a strategy manager being incentivised by the value of the accounts and the volume of trades their community is making, the strategy managers on FXTM are only making money when you do. This is the optimal charging method to eliminate any potential conflicts of interest, no matter how small or unlikely. The standard ECN account has commissions payable of 4$ per lot ($2 on the buy side of the transaction and $2 when you come to sell). The ECN Zero and FXTM Pro Account are both offered without commissions but there is a variance in the overall proposition. Minors and Exotics with all brokers come with wider spreads due in large part to the liquidity and you will see that the minimum spreads for these is from 5pips. Exinity Limited is a member of Financial Commission, an international organization engaged in a resolution of disputes within the financial services industry in the Forex market.

So, I logged in to the portal and tried to disable the option. It will say „Success“, but still show that option in Green. We are kindly asking, please send your MyFXTM account number to our email address We will check this information and promptly reply. Please read FXTM Reviews below and share live trading experiences with this broker. Trading instruments include over 55 currency pairs, Bitcoin, Litecoin, Ethereum cryptocurrencies as well as Stock Indexes, Stocks, Gold, Silver, Oil and other commodities.

fxtm review scam

FXTM is a member of the Honk Kong-based Financial Commission, where the Compensation Fund protects traders up to €20,000 per claim. It is identical to what CySEC offers but does not come with regulatory restrictions. Favorable trade, reliable terminals, a large selection of assets, training materials – all this positively characterizes the company, indicating a successful start and the right niche of development. It is also worth noting that ForexTime, notwithstanding the fact that it works not so long ago, has already managed to prove itself. However, it is still too early to evaluate it as a reliable or fraudulent company.

Again, you will be able to take advantage of ECN execution on the markets by trading with the MT4 and MT5 platforms, but there is no such demo account available . ForexTime is a forex broker established back in 2011 by Andrey Dashin. FXTM offers an intuitive trading platform based on MetaTrader 4 and 5 and offers a wider range of trading instruments including Forex, Cryptocurrencies, Index and Commodity CFDs, Spot Metals and Stock CFDs. Is a great choice; the online broker is based in the UK and has been in the sector of financial services since 2011.

Opening an account step by step

It’s available in several languages, including Russian. Traders can use the news feed, the economic calendar, calculators, trading signals as well as SMS notifications about important events on the market. The company provides all the necessary conditions for work, including training materials and programs. Every user can pick a convenient strategy, implement it in practice and achieve the desired result. Figure On April 10th, the first application for withdrawal of funds failed.

You can decide if you want to be an Investor or a Strategy Manager. When you select a Strategy Manager, you have the option to filter them based on risk level, success fee, all-time profit, etc. Strategy Managers can receive a commission on every winning trade. FXTM has a great mobile trading platform, we really liked its design and user-friendliness.

The third step is to provide information and fill the questionnaire with trade experience. The second step is to select the account that the trader wants to trade with. There are several options that could be checked out on the website of the broker.

fxtm review scam

This is due to the minimum position sizes that you can open with any broker, not exclusive to FXTM, and actually make it hard for you to execute a trade that does not total your full account value. We cover this topic of broker minimum deposits more broadly separately. The ECN offering by FXTM is a confidence booster that there are no conflicts possible in the trade and execution is both timely and transparent. To keep FXTM deposit and withdrawal fees to 0, you would be best depositing via Skrill/Neteller.

Also, it has rich functionality, fundamental technical analysis, built-in copy trading, and automated trading. This platform has 44 graphical objects and has an integrated economic calendar. Additionally, MT5 includes a multi-threaded strategy tester, convenient fund transfer between accounts, and system alerts that will surely keep you updated with the markets’ trends. The MT4 was developed by “MetaQuotes Software Corporation” in 2005.

For the quality of conditions offered, this will not be a significant barrier to entry if you would like to have the best available spreads. FXTM spreads and commissions are available as floating spreads only. The lowest spread is 0 pips, but it is only on the FXTM ECN Pro account, which requires a minimum deposit of $25,000. Other than that, the minimum spread on non-ECN accounts is 1.3 pips, for the standard account.

Is the FXTM Trading Platform Secure?

In addition, it is also extremely robust and works on virtually any device. Swap free trading with FXTM is available on this platform. ScamBroker.com is a broker reviews website, and does not offer any investing advice or service. Nothing on this website should be considered a recommendation or endorsement. We are not responsible for any losses you may incur, by investing with a company mentioned on this website. We may receive compensation from the companies we write about.

The reason smart investors will always choose a licensed broker instead of a scam broker, is because you want to trade and not worry about the financial stability of you broker. Looking at the filtering / screener abilities, you can find forex traders based on investment returns, risk profile, length of experience or trading style. The FXTM Cent account is a commission-free account where 1.0 lot equals 0.01 standard lots or 1,000 currency units. The minimum transaction volume is 0.01 cent lots or ten currency units, and the minimum deposit is $10 or a currency equivalent. Trading with a regulated broker will limit the potential for fraud and malpractice. I always recommend traders to check for regulation and verify it with the regulator by checking the provided license with their database.

At the time of this review, FXTM maintains a refer-a-friend campaign. Traders and their referrals can each get $50 for a referral. Forextime is also acquiring a regulatory license in Kenya as it expands across the African continent. On February 26th, 2021, FXTM ceased its retail operations from its CySEC regulated entity. It cited the uncompetitive regulatory framework introduced by the European Securities and Markets Authority for its reason. EEA clients can trade with any of the other subsidiaries.

Got Scammed?

For example, I’m currently waiting for a withdraw I made four days ago via a mobile money method they claim takes at most 24hours. They have frustrated me cryptocurrencies screener in such situations atleast thrice. The customer service will keep telling you they have told the relevant department but I Don’t really think they do.

There is not a separate company handling South African clients. Trading requires decision-making and analysis of the markets. Obviously, before getting successful trades, you should know how trading works. Markets can be considered as the bloodstream of trading.

Our algorithm gives a high rating if the identity of the website owner is shown. Log back into MyFXTM to check on your accounts or make transactions. Where there’s volatility in the market, there’s opportunity. Find out how to make sharply moving prices into opportunities for your investment portfol… Uncover more information about stock markets by learning how to see bullish candlestick patterns, and put them to work within your technical analysis. Take your first steps into FX trading with our comprehensive beginners guide for Forex!

What does Lesibana mean?

2 submissions from South Africa agree the name Lesibana means ‚To be chosen‘ and is of African origin.

Any investment that promises high revenues also inherently is high risk. Please consider if you can afford to lose the money you plan to invest in a high-risk venture. Check our blog post „High Risk Financial Investment Scams“. This guide delves into the different types of market indices, why it can be beneficial to trade them as CFDs, and covers some popular index trading st…

Depending on your experience and trading skills, each account is suited to a different group of traders. FXTM offers a scope of store choices, including bank wire moves, charge/Visas, Neteller, and Skrill, which are all without commission. What’s more, different strategies can be handled in just two hours, not at all like bank wire moves, which can take 3-5 work days. There are additionally strategies for pulling out reserves, yet some bring about charges while others don’t, as displayed beneath.

Is your Broker Trusted by Traders?

Let’s get straight into the FXTM review and the most important thing to consider before you potentially start trading with any broker, is FXTM a scam or not. Anonymous payment methods have been found on this website. This may help you as a consumer to remain anonymous but it is also „protecting“ the merchant.

A good rule of thumb is that any broker should have a ratio of at least 1 – meaning you’ll at least break even when trading with them. If your broker isn’t profitable, then they need to focus on strategies for improving this number or find new ways to save so they can maintain or grow their profitability ratio. The registration process is as easy as you would expect, taking no longer than about 60 seconds to get started and testing once you verify your account email/phone. FXTM have recently launched FXTM Trader to great fanfare and it has not disappointed.

What is the FXTM Cent account?

Checking a website for other scam signals remains essential. We discovered that the website is rated as popular by Tranco with a score of . This means that the website is visited by quite a lot of people. In addition other websites find this website interesting and relevant and are linking to it.

On the positive side, profit shares are charged only once a month based on the over all equity, even taking into account losses from previous months. Stating the issue that I am unable to disable the swap-free option, I have also asked them the status on the issue with mobile app. Asked them for a refund of charged too that were applied because of this issue. And they keep charging my account with some $10 everyday per lot, for their issues.