FXTM is a brand offxnetworks.com, a forex and CFD trading broker based in the UK.
FXTM is not owned by FX Networks but rather it is an independent brand that FX Networks licenses to directly market Forex, Crypto and CFD trading products.
FXTM is one of the UK’s leading online Forex trading broker, with over 4 million customers globally and over 400,000 Forex traders as of June 2018. FXTM brokers are regulated by the Financial Conduct Authority (FCA), the UK’s main regulator.
FXTM has over 200 employees and is headquartered in London.
FXTM was founded in 2010 and was acquired by FX Networks in 2016.
FXTM offers Forex, Crypto, and CFD trading as well as Binary options trading.
fxnetworks.com is a brand of FX Networks and not FXTM.
Table of Contents
What is Forex?
Forex, also known as “foreign exchange,” is the trading of financial assets based on the value of currencies in different countries. The most common types of Forex are trading the US Dollar against other major currencies (Dollar/Euro trading), trading the Pound sterling against other major currencies (Pound/Euro trading), and trading the Japanese Yen against other major currencies (Yen/Euro trading).
What is Crypto?
Cryptocurrencies are digital currencies that are not regulated by any government or other centralized body. They are created and traded electronically through a process known as mining. The most common types of cryptocurrencies are Bitcoin, Litecoin and Ethereum.
What is CFD trading?
Commodities futures and options are derivatives that derive their value from the price of commodities such as gold, oil, or Dow Jones. Unlike futures, which give the holder the right to buy or sell a commodity, options give the holder the right to buy or sell a contract, which can be either a future or another option.
How to trade on fxnetworks.com
FXTM offers a wide variety of trading platforms for all types of traders. You can trade on their website fxnetworks.com or their iOS and Android apps.
How to trade on fxnetworks.com (Binary options)
FXTM licenses their trading platforms to broker several types of binary options. The most common type of binary option is the “One-Touch” option. One-Touch options are only available to FXTM clients and give the holder the right to buy or sell a specific asset at a set price during a set period of time.
How to trade on fxnetworks.com (Forex)
FXTM offers clients a wide range of forex trading platforms. Clients can choose from over 4,000 trading instruments and more than 50 currency pairs.
Disadvantages of FXTM trading platform
Some of the disadvantages of trading on the FXTM platform include:
- No margin trading for cryptocurrency pairs
- No mobile app available for iOS or Android
- No free trading for new traders
- No demo account for advanced traders
- High minimum amount for trading ($10,000 for most currency pairs)
- No inter-dealer trading
- High fees for trading (30% for most currency pairs)
How much does it cost to use FXTM?
The trading fee for FXTM’s forex and binary options trading platforms is as follows:
- For stocks, bonds, commodities and ETFs trading: $0.01 – $2.00 per every $1,000 traded
- For FX trading: $0.05 – $2.00 per every $1,000 traded
- For binary options: $0.05 – $2.00 per every $1,000 traded
There is also a monthly account maintenance fee for all clients that is $10 or less.
FXTM offers a wide range of trading platforms for forex and binary options trading. The trading fee for all of them is quite low especially when compared to other trading platforms.
FXTM also has a large number of financial assets for trading including stocks, bonds, commodities and ETFs. However, it does not offer margin trading for cryptocurrency pairs, no mobile app for iOS or Android and no free trading for new traders.
FXTM does not charge any account fees but does charge high fees for trading ($30 for most currency pairs). While the trading fee of FXTM is quite high, it does offer lower fees compared to its competitors.