CySEC Cyprus regulated broker FXTM offers forex trading services with sharp 5 digit precision, leverage up to 1:1000, tight spreads from 0.1 pip, and fast execution.
In terms of regulatory guarantees and trading conditions, this broker is at the forefront, despite its young age because it was only founded in 2012. Therefore, it would be interesting to try a forex demo account with an FXTM broker.
Registering a forex demo account with an FXTM broker is very easy, and you can do it by following these steps.
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According to our recent research, ForexTime (FXTM) is a forex brokerage company in Cyprus but operates globally. Forex brokers provide traders with access to a platform that allows them to buy and sell foreign currencies.
Forex brokers are also known as retail forex brokers or currency trading brokers. Retail currency traders in turn use these brokers to gain access to the 24-hour currency markets for speculative purposes.
Forex brokerage services are also provided for institutional clients and large corporations such as investment banks.
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What is FXTM (ForexTime)
FXTM is a Cypriot forex brokerage company founded in 2011 and based in Limassol, with offices around the world.
The broker has become a well-known brand with a global network of offices and regulations in Europe, the Middle East, Africa, Asia, and Latin America, with more than two million clients in 150 countries.
The FXTM brand is authorized and controlled in multiple jurisdictions and offers superior online trading products and services to institutional and retail customers.
These clients can benefit from segregated accounts at top banks, secure deposits, and withdrawals, competitive leverage, tight spreads, ability to trade on 250+ instruments.
FXTM has garnered the following awards over the years serving traders:
- Best Investment Broker
- Best European Forex Affiliate Broker Program
- Best Investment Broker
- Best Trading Experience in 2019
- Leading Investor Education Forex Broker Award
- Best Forex Brand of the Year (China)
- Best Forex Education Provider (Africa)
- Best Trading Conditions
- Most Innovative Broker Award
- Best FX Broker (Asia)
- Best Forex Broker (Russia) and Most Innovative Broker of 2018
- Best Forex Broker of the Year
- Best FX Broker (Asia)
- Global Best Customer Service
- Best Forex Brokerage Company of the Year (Europe)
- Best Online Forex Trading Company (Nigeria) of 2017
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Step-by-step How To Register an FXTM Demo Account
To register, and create a demo account with FXTM, traders can follow these steps:
- Traders can go to the FXTM website and click on ‘Register’ to register with FXTM.
- Traders will be redirected to a new page containing an online application and they will be asked to provide their first and last name, country of residence, mobile number, email address, and user-selected password.
- After completing the information, the trader must select ‘Send Pin’ so that the OTP is sent to the mobile number they provided. As soon as the trader receives the SMS, the OTP must be entered in the column provided.
- As soon as the trader’s mobile number is verified, the trader can click on ‘Register Now’ to complete the application.
- After registering with FXTM, traders can proceed to open a demo account on one of the offered account types and access their demo account via one of the trading platforms provided.
The demo account is not only aimed at beginners but also gives more advanced traders the opportunity to explore what FXTM has to offer.
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FXTM Demo Account Features
The FXTM demo account perfectly mimics live accounts to allow traders to experience forex trading in a risk-free environment. When using a demo account, traders have access to all the financial instruments provided as well as live quotes.
The demo accounts provided by FXTM can be accessed and managed via the trading platforms that are part of the FXTM offering, which in this case are MetaTrader 4, MetaTrader 5, and FXTM Web Trader.
Also read: 5 Steps How To Create InstaForex Demo Account For Beginners
Advantages of FXTM Demo Account
- Fully digital demo account registration
- Fast and non-reporting account registration and registration
- Nothing disadvantages are recorded
Can I convert my demo account to a live trading account with FXTM?
What live trading accounts does FXTM offer?
- Standard Account: minimum deposit $/£/€ 100 or 40,000, floating leverage from 1:2000, spreads from 1.3 pips, and zero commission charged on trades.
- Cent Account: minimum deposit $/£/€10 or 2,000, fixed leverage from 1:1000 to 1:25 depending on the financial instrument, spreads from 1.5 pips and zero commission.
- Stock Account: minimum deposit $/£/€ 100 or 40,000, fixed leverage 1:10 for US Shares and 1:3 for EU Shares, spreads from 0.1 pips, and zero commission.
- ECN account: minimum deposit of $/£/€500 or 80,000, floating leverage from 1:2000, spreads from 0.1 pips, and a commission of $2 per lot, depending on the financial instrument and volume traded.
- ECN Zero account: minimum deposit $/£/€200 or 80,000, floating leverage from 1:2000, spreads from 1.5 pips, and zero commission.
- FXTM Pro Account: minimum deposit $/£/€25,000 or 5,000,000, floating leverage from 1:200 to 1:25, spreads from 0.0 pips and zero commission.
What deposit currencies are available for live trading accounts?
There are various deposit currencies, depending on the payment method used, some of these include, but are not limited to:
- MGN, and etc
FXTM Account Registration Bonus
FXTM does not offer a first-time signup bonus. Traders who register for a real account with FXTM are not offered a first-time signup bonus, deposit bonus, or welcome bonus.
Brokers often offer these broker bonuses to new traders in an attempt to attract more customers as well as to encourage trading activity.
Offering a deposit bonus or welcome bonus is a great way to convince traders that they will receive some money back depending on the initial deposit made.
Various brokers also offer no deposit bonuses to traders in the same effort to attract more customers and bonuses like this can help not only brokers in getting new clients but also traders who have tight budget constraints.
FXTM offers a referral bonus through the “Invite a Friend Program” which offers traders the opportunity to receive $50 when they invite a friend or family member to register for a real account with FXTM.
Once the referrals open a real account, they will also receive $50 as part of the referral bonus. Traders who use their referral link to invite more people to sign up for a real account have a chance of earning up to $10,000.
This referral bonus is only available to new FXTM traders and existing traders until 30 June 2020.
FXTM provides competitive trading conditions in addition to referral bonuses, Forex Contests, and a loyalty program to reward traders not only for their patronage but to encourage traders to invite others to join and trade with higher volumes.
Bonuses, contests, and loyalty programs are great ways in which brokers can encourage more traders to sign up for accounts in addition to rewarding traders for continued forex trading activity.