FXTM Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of FXTM trading signals. You will learn what kinds of trading signals FXTM offers and what the conditions for using them are.
Short introduction of FXTM
Broker FXTM (pronounced "ForexTime") started in 2011. It provides an opportunity to make a profit through active trading or investment programs. The company is regulated by CySEC (Cyprus Securities and Exchange Commission, 185/12), South African FSCA (Financial Sector Supervision Authority, 46614), UK FCA (Financial Conduct Authority, 777911), and FSC (Mauritius Financial Supervisory Commission, C113012295). The broker has received many awards, including "Best Trading Conditions" (2018, 2019) and "Most Innovative Broker" (2018).
Over 2 million traders worldwide cooperate with ForexTime (FXTM). The minimum deposit on the Micro account is $10, which allows novice traders to master the basics of trading and study the operational principles of the Forex market with comfort and without large investments.
| 💰 Account currency: | USD, EUR, GBP, NGN |
| 🚀 Minimum deposit: | $10 |
| ⚖️ Leverage: | Up to 1:2000 |
| 💱 Spread: | From 0.0 pips |
| 🔧 Instruments: | Currency pairs, precious metals, CFD contracts on stocks, commodities, and indices |
| 💹 Margin Call / Stop Out: | 40-60%; 50/80% |
FXTM Pros and Cons
👍 Advantages of trading with FXTM:
•a wide range of trading accounts;
•a large number of training materials;
•the ability to use automated programs in trading.
•the minimum deposit is $10;
•the most popular trading platforms are MT4 and MT5;
•proprietary application for mobile trading is the FXTM Trader;
•the ultra-low spreads are from 0.0 pips;
•a huge choice of trading instruments is present;
•supervision of the broker’s activities is by major financial regulators in four jurisdictions;
•professional support.
👎 Disadvantages of FXTM:
•for investment, only copy trading is offered;
•the broker is closed on Saturday and Sunday.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
FXTM Trading Signals
The trading conditions of ForexTime were analyzed by Traders Union specialists for the presence of trading and non-trading commissions. There are no hidden fees in the company, no fee is charged for replenishing a trading account, and the commission for withdrawal is set by payment systems and ranges from 0.5% of the withdrawal amount to €30. On the Advantage account, spreads start from 0.0 pips, but the trader is charged a commission of $0.4 to $2 per lot.
| Account type | Spread (minimum value) | Withdrawal commission |
| Micro | From $15 | Depends on the payment system |
| Advantage | From $0,4 | Depends on the payment system |
| Advantage Plus | From $15 | Depends on the payment system |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that FXTM does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
How do I choose a signal provider?
Consider the profitability, the list of instruments the signals are provided for and the risk level of the strategy.
Do I need to test trading signals before subscribing to them?
Most definitely yes. Make sure that the signals do work and are effective.
Can I test signals on a demo account?
If you mean copy trading, it depends on the broker. If the signals are provided as a newsletter or notification, you can decide where and how to test them yourself.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.