Table of Content
Table of Content
Advantages of Trading & Investing with FXTM in Africa
FXTM has been rated as the #4 Forex Broker in Africa. It is licensed by a top-tier regulatory body, i.e., FSCA Africa & FCA UK, so we believe they are safe.
FXTM Africa is the leading trading platform. FXTM offers a safe, innovative, and reliable way to trade in the financial markets. We have years of experience in catering to traders around the globe, so we know what it takes to be successful in today’s high-speed trading environment. This blog will examine some of the main advantages which make FXTM a great choice for traders interested in African markets.
Read on to learn how FXTM Africa, whether you are a new trader or an investor seeking out fresh opportunities, can help you reach your financial goals.
Introduction to FXTM
FXTM is the broker you should choose if you want to trade in Africa with a trustworthy and reliable broker. FXTM is a broker that stands out among other brokers in Africa.
FXTM has been licensed by the Financial Sector Conduct Authority in South Africa and Cyprus Securities and Exchange Commission. FXTM adheres to strict financial supervision and regulation standards, ensuring that all your funds are safe.
FXTM also offers an array of account types and trading instruments to meet your specific needs. FXTM has everything you need, whether a novice or an experienced trader.
Our dedicated customer service team is on hand 24 hours a day to assist you. Why not try FXTM today? You will be satisfied.
FXTM – a brief
FXTM an FSCA-regulated Forex Broker that operates in South Africa. It was founded in 2011, and claims to have over 1 million users.
- ForexTime (FXTM) South Africa
- Year Founded – 2011
- Website – www.forextime.com
- FXTM Minimum Deposit – $10
- Maximum Leverage – 1:2000
- Trading Platforms – MT4 and MT5 for PC, Mac, Web, Android, iOS
- Min Order – 0.01
- Account currency – USD, EUR, GBP, NGN
Detailed Review of FXTM in Africa
FXTM Africa offers a great trading experience for South African traders. This broker complies with the local regulatory body and provides attractive trading conditions to its clients.
ForexTime offers services in more than 150 countries. ForexTime’s top priority is using innovative technology for faster order execution. You can trade forex pairs, precious metals, CFDs, indexes, and global and European stock markets. The company has been operating in the Forex market for over a decade.
Here are some figures that traders should consider when choosing an FXTM Broker.
- More than 10 years of active experience in the Forex markets;
- services provided in 150 countries around the globe;
- has over 2 million customers;
- minimum deposit starting from $10;
- more than 25 international awards.
- 84% of withdrawal requests are processed in 5 minutes.
Advantages of FXTM for trading in South Africa
Analysts from the Traders’ Union conducted an in-depth analysis of FXTM to help traders from South Africa. Experts outlined key advantages of FXTM Africa. Brokers have the following benefits:
1. Optimal Leverage;
2. Auto trading is allowed;
3. Clients’ money is stored in separate accounts.
4. Multi-lingual personal managers;
5. Licensed by a financial regulator.
FXTM does not limit traders’ trading strategies but limits the number of transactions that can be open or pending on standard accounts.
FXTMTrading conditions and features
There are many things to take into consideration when choosing a Forex Broker. FXTM Africa offers a range of features that are both reliable and trusted.
Below are some features that FXTM offers to traders from Africa.
Competitive spreads: FXTM Africa has spreads starting at just 0.1 pip on the major currency pairs. You can therefore trade at tight margins to maximize profits.
FXTM Africa offers a wide variety of instruments to trade, including Forex and CFDs for commodities, energies, precious metals, and cryptocurrencies. You have a variety of choices to build your trading strategy.
FXTM offers its clients access to the most advanced trading platforms, such as MetaTrader 4/5 or the WebTrader proprietary platform. The platforms provide advanced charting features, technical indicators, and a variety of order types.
Protect yourself from losses greater than your account’s balance by closing your trades automatically at your stop-loss level. You can rest easy knowing your account won’t ever go negative.
FXTM Africa Trading Benefits
FXTM is the broker you should choose if you want to trade in Africa with a reputable and reliable broker. FXTM offers several benefits:
FXTM offers a wide variety of instruments to trade, including Forex, metals, CFDs, energy, and cryptocurrency. You have a wide range of trading options.
Spreads that are competitive and high Leverage. FXTM Africa has some of the best spreads available in the market, starting at just 0.1 pip on the major currency pairs. You can trade using Leverage up to 1:1000, allowing you to profit (or lose) high from even small price changes.
Negative balance protection: FXTM, unlike many other brokers, will close your losing trades automatically at zero if the balance of your account falls below zero.
You are protected from large losses if you lose the trade.
FXTM offers excellent customer service. If you have questions or need assistance, the customer support team will help you. FXTM Africa is available in multiple languages 24/5 via email, live chat, and telephone.
FXTM Deposits and Withdrawals
FXTM offers many options for South Africans to deposit and withdraw money but charges fees when they use bank transfers. Both deposit and withdrawal methods share the same methods.
Listed below are a few brief descriptions of the FXTM payment methods.
1. Deposit Methods
You can deposit money or add funds to your account using any of the following methods:
Alfa-Click, WebMoney, Dixipay, Neteller, Skrill / Moneybookers, and many more are available.
3. Transfer via bank:
You can also transfer money from your account to the recipient’s bank using a bank wire.
1. Debit/Credit cards: Visa cards, Mastercard Maestro, China Union Pay, and other credit/debit cards can be used.
2. E-Wallets: Neteller, Skrill/Moneybookers, Crypto, Dusupay, WebMoney, Dixipay, and many more can be selected per your preference.
3. Bank Transfer Option: You can withdraw funds by bank wire transfer.
In addition, as per the KYC terms (Know your Customer), you must verify your account prior to withdrawing funds.
FXTM Account Types
FXTM provides Standard Accounts as well as ECN Accounts. Both have different variants. The FXTM Africa accounts are available on both MT4 and MT5 platforms.
These are all common account types with FXTM.
- You can choose USD, GBP, or EUR as your base currency. We recommend that South African traders choose USD as their base currency. If you choose to deposit in ZAR via a payment method, the ZAR amount will be converted to your base currency, USD. There may also be currency conversion fees. For Micro Accounts, the minimum deposit amount is $50/EUR/PS50, and for an Advantage account, it’s $500/EUR/PS500.
- FXTM Micro Account offers instant order execution. The Market Execution is available with the Advantage & Advantage Plus accounts.
FXTM ZAR Account
FXTM South Africa currently does not offer ZAR accounts. It only offers USD, EUR, and GBP currency account options.
You can open an account in ZAR by choosing from the list below. This includes brokers such as Hotforex.
FXTM Standard Accounts
FXTM provides three types of accounts: Standard, Cents, and Shares.
1) Micro Account (50$ deposit):
The minimum deposit required for a micro account is $50.
It has a leverage maximum of 1 to 1000 and access to all trading forex instruments.
Micro lots are available, with a maximum of 30 and 100 maximum orders per order. Stop-out and margin calls are both set at 20%.
2) Account Advantage ($500 Deposit):
The minimum deposit is $500 for the Advantage account, with a fixed maximum leverage of 1 to 2000 for Forex. It is an ECN account, with a Raw Spread starting at 0 pips and a commission based on volume.
3) Advantage Plus Account :
The minimum deposit is $500. The Micro Account is very similar. However, the spreads are much lower, and the number of instruments is higher.
FXTM ECN Accounts (recommended)
ECN stands for Electronic Communications Network. You get direct access from the broker to live forex markets. ECN trading is direct access to the live forex markets. It only has the Advantage Trading Account, an ECN account with a 0 pip Raw Spread plus commission.
This account allows you to trade standard lots. The maximum lot size per order is 100. Stop out and margin level are both 50%.
ECN Zero account: The minimum deposit is 200 $/EUR/PS, and the Leverage is the same; however, the spreads are much greater than ECNMT5 accounts.
FXTM Pro account: The minimum deposit is 25000 $/EUR/PS for an ECN account, with a leverage maximum of 1200. This account has the lowest average spread.
You should choose FXTM MT5 ECN as this account has the best spreads, and the $500 deposit requirement is not too high.
Open an FXTM account
1. Click on the Open account button: First, click the “Open account” button on FXTM’s home page.
2. Fill in the details: You must complete the registration details.
3. Verify your Email: When entering the registration details, you must verify the email address by clicking on Send PIN.
4. Completing your profile: Once the verification process has been completed, complete your profile on that same page by adding all details.
5. After account creation, choose your trading account type. You can also select your preferred currency for the account on this page.
6) Make First Deposit: After your account is set up, you must deposit funds to begin trading.
Considerations for Security and Regulation
Security and regulation always come into play when it comes to trading online.
FXTM, a regulated brokerage that has been licensed by the Financial Sector Conduct Authority in South Africa and the Cyprus Securities and Exchange Commission in Cyprus (CySEC), is a regulated and regulated broker.
It ensures your money is safe, secure and you are trading on a platform that adheres to financial regulations.
FXTM is a licensed broker offering many features and services to help traders trade confidently and securely. We offer our customers negative balance protection, so they will never lose more money than their initial investment. Our platform has the latest security measures and a stringent anti-fraud program.
FXTM offers a secure and safe way to trade Forex in Africa.
Commissions and deposits
FXTM offers the best rates on commissions and deposits. FXTM offers extremely low commissions on major currency pairs. It offers many deposit methods, including bank transfers, credit/debit card deposits, and electronic wallets. FXTM is a great option for African traders.
FXTM offers a wide range of accounts to choose from. Micro accounts are ideal for beginners. Standard accounts are also available for traders with more experience who wish to invest in larger volumes. FXTM offers a great option for those looking to trade Forex in Africa.
Our Thoughts about Trading with FXTM
We’ve already seen that trading with FXTM has many benefits, particularly for African traders. This broker offers Forex, CFDs, and cryptocurrency trading. The Financial Conduct Authority regulates it and has many assets to trade. It is easy to use and has many features, such as charting software and an app for mobile devices. Last but not least is the excellent customer service.
FXTM offers many features and is an excellent choice for African traders.
FXTM offers a wide range of assets, low fees and commissions, 24/7 customer support, and educational resources to help traders succeed in Africa. FXTM’s reliable, secure platform offers low commissions and fees, a wide range of assets, and 24/7 support. It also provides educational materials and offers 24/7 customer service. FXTM offers special African promotional programs that make trading more profitable.
1. What are FXTM’s main benefits for traders in Africa?
FXTM’s low deposit minimums, high leverage rates, and tighter spreads are the main benefits of trading on FXTM in Africa.
2. How much is required as a minimum deposit to open an FXTM account?
FXTM requires a minimum of $10 to open a new account.
3. FXTM offers a range of spreads.
Spreads start as low as 0.01 pips.
4. What resources does FXTM provide for African traders?
FXTM offers African traders a range of resources, including trading signals and webinars.
5. Can FXTM provide customer service in African languages?
FXTM provides customer service in several local African languages.
6. Are there any special promotions for African traders at FXTM?
FXTM does offer a range of bonuses and promotions for African traders, including a welcome bonus, a loyalty bonus, and a refer-a-friend bonus.
7. How can I pay for FXTM?
FXTM offers a variety of payment options, including credit/debit cards, bank transfers, and electronic wallet services.
8. Trading with FXTM is secure.
Trading with FXTM is safe as the Cyprus Securities and Exchange Commission controls it.