Founded in 2007, TradeFTM has become one of the leading forex brokers in the online financial trading space. It is a London-based Electronic Communications Network forex broker that was founded by a group of professional bankers with the aim of improving the trading experience for traders all over the world.
TradeFTM allows people to trade forex, commodities, stock CFDs and spot indices. This broker also offers direct access to the MetaTrader (MT4) trading platform, a mobile trading platform, as well as the cTrader platform. The powerful VPS engine service on the platform and other features, such as personal accounts managers and low transaction fees, help traders to gain a competitive advantage in the market.
TradeFTM clients also have access to forex trading signals, social trading as well as risk management tools, ensuring that traders have access to an all-inclusive trading environment. The broker offers a professional customer support team 24/5 and they enable their clients to deposit and withdraw their funds with ease. Overall, TradeFTM is a top forex brokerage platform that caters to the trading needs of both new and advanced traders. Let us review the broker and rate the services it offers to its clients.
TradeFTM is not currently a regulated broker. The broker is based in London, but it is not licensed by the Financial Conduct Authority (FCA). Despite this, the broker operates based on the rules and regulations as laid out by the financial regulatory bodies. TradeFTM has a registered office at 180, Whitton Rd, Hounslow TW3 2ES, UK and they have listed detailed information of the company on their official website, ensuring that they are transparent.
TradeFTM gets its liquidity from some of the leading banks in the world. The liquidity providers of TradeFTM are global financial institutions, banks, leading brokers, and some market makers. Some of the liquidity providers include Citibank, Barclays Bank, Morgan Stanley, and more. The fact that these established financial institutions provide liquidity for TradeFTM boosts its credibility within the forex trading industry.
TradeFTM also has numerous security protocols in place to ensure the safety of user funds and personal data. The SSL certificate on the site ensures maximum encryption, which eliminates any threat between the platform’s server and that of the customer. Customer funds are held in segregate accounts, which ensures that the funds of the company are not mixed with that of the clients.
Rating – 7/10
When it comes to traders’ education, TradeFTM is one of the leading brokerage platforms. The broker has an expansive educational section, comprising of articles, glossary, basic trading content, and tutorials. Under the Preschool tag, TradeFTM explains in-depth why clients should trade forex and they also provide other basic trading knowledge.
The Forex glossary section contains all the words in the forex trading space and what they mean. TradeFTM explains all the terminologies, making it easy for new market entrants to understand what they mean and how they are used.
TradeFTM has gained clients all over the world because of the many technical analysis tools they offer on their site. Technical analysis looks into the price action of an asset and explains the price movement. Technical analysis is an excellent way for traders to keep track of market performance and make informed decisions based on the analysis. You can access an Economic Calendar on the site as well as a national holidays calendar, CFD adjustment calendar, a dividend adjustment calendar as well as the central bank rates. You can also access price charts as well as a currency converter, profit calculator and more.
Rating – 9/10
TradeFTM Unique Features
TradeFTM has various unique features. The platform has been focusing on its greatest strength, providing trading services to both new and experienced traders. They are able to achieve this by offering low spreads, a wide range of trading tools, and an expansive education center. The advanced charting features ensures that traders can conduct in-depth technical analysis. They support a wide range of payment methods, which makes it easy for traders to deposit and withdraw funds on the platform. TradeFTM uses the cTrader platform, which has one of the most advanced charting tools and offers other unique features to traders, such as expert advisors, indicators, and more.
TradeFTM also offers social trading which allows you to follow and copy other top traders on the platform. They also offer a wide range of risk management tools and with the Stop Loss and Take Profit features, you can protect your profits while reducing your losses. The broker also offers Negative Balance Protection and Trailing Stop orders.
The broker also offers a wide range of bonuses and promotions such as a welcome bonus, deposit bonus and more. There is also a refer a friend program.
Rating – 8/10
Commissions and Fees
Similar to other forex brokers, TradeFTM charges commissions and fees for its services. For deposit and withdrawals, the broker charges 2% plus $7.5 for bank transfer and credit/debit card payments, 1% for Neteller and Skrill, and 3% plus $7.5 for those that use Amex.
Most forex brokers charge commissions as spreads, and TradeFTM works with a similar model. This broker has tight spreads for its assets. This means that the difference between the ask and the bid price is small, allowing traders to enjoy more of the profit.
TradeFTM does not have other charges asides the payment fees and the spreads. They do not charge users for opening an account with them, and they do not have inactivity fees on the platform. Overall, it is a good platform in terms of commissions and fees.
Rating – 7.5/10
TradeFTM Investment Products
At TradeFTM, traders have access to a choice of investment products. You can trade stock CFDs, commodities, forex, and spot indices with this broker.
- Forex: This is the major investment product available on TradeFTM. The broker offers users access to major trading pairs like the EUR/USD, USD/JPY, USD/GBP, USD/CHF, EUR/GBP, and more. They also allow traders to access other minor trading pairs and exotic pairs.
- Commodities: TradeFTM supports a few commodities on its platform. They include gold, silver, U.K Brent, U.S Crude, and U.S Natural Gas. The gold and silver are traded against the U.S Dollar while the other assets are traded as spot assets.
- Stock CFDs: You can trade a wide range of equities on this platform. TradeFTM supports the stocks of companies like Apple, Adobe Systems, Microsoft, Facebook, Tesla, Intel, AMD, and more.
- Spot Indices: The last investment product available on this platform is the Spot index. Some of the indices found on this trading platform include Australia 200, France 40, U.S Tech 100, Germany 30, U.K 100, and more.
Despite the available choice of assets to trade, TradeFTM could improve on the number of assets available on its platform. It should support the trading of assets such as cryptocurrencies, options, metals, and futures.
Rating – 8/10
TradeFTM has an active customer support team. They can be contacted via multiple methods, including email and phone calls. The company’s U.K number is listed on their website, and people can call them for enquires or questions. Similar to other leading forex brokers, TradeFTM is available 24/5, attending to all customer needs. They are not available during the weekends as the markets are inactive.
The broker could maybe improve in this section by providing a live chat feature for its users. In this way, customers can instantly chat with company reps without waiting for a few minutes or so before getting a reply from the support team.
Rating – 9/10
TradeFTM User Experience
TradeFTM uses the cTrader platform, which can be downloaded or accessed via a web browser. The platform is highlighted by the ease of use and low complexity, thus, making it a perfect platform for both experienced and newbie traders. cTrader is recognized as a leading multi-asset Forex and CFD trading platform which offers rich charting tools, advanced order types, level II pricing, and fast entry and execution. The other trading tools that are especially useful on this platform include the profit calculator, FX Markets hours, FX cross rates, overnight swap, and PIP calculator.
When testing the TradeFTM site, it was quite easy to open an account. We then accessed the educational segment of the platform with ease. They allow both registered and non-registered members to read the articles and learn more about the financial markets. In terms of order execution, TradeFTM is one of the fastest brokers currently available. The broker executes trades almost instantly, allowing traders to successfully place trades and get them at the desired price. There is a real-time price quote, showing the prices of the assets in real-time making trading a lot easier. You also have the option of trading via a mobile app which provides the convenience and flexibility of trading while on the go.
Rating – 8/10
Research and Insight
TradeFTM is a good broker when it comes to conducting research and getting market insight. The broker has a section dedicated to the technical analysis of assets on the platform. Traders can view the technical analysis conducted by market experts and make informed decisions based on the final readings of the analysis. The high number of technical indicators and tools also makes it easy to conduct market research and make informed trading decisions.
There are many trading tools available on the TradeFTM website which helps to boost trading accuracy. In addition, having access to social trading will enable even new traders to master financial trading. The broker also offers access to accurate forex trading signals and you can sign up for the TradeFTM Information Package and you will receive between 2 to 15 signals daily from 7 major sources.
Rating – 8/10
Pros and Cons of TradeFTM
Here are the pros and cons of partnering with the TradeFTM broker.
|Supports the CTrader Platform – Desktop Windows / macOS, Web & Mobile||No MetaTrader platform|
|Numerous technical indicators||Only USD account currency|
|Offers a choice of account types – 8 Account Types||A limited number of assets – no cryptocurrencies|
|1:500 Maximum Leverage||Not regulated|
|Supports forex, stocks, spot indices, and commodities trading||No live chat|
|The customer support team is available 24/5.|
|Offers bonus on various account levels|
|Supports major, minor and exotic Forex trading pairs|
|Supports numerous payment systems|
In general, TradeFTM provides traders with an excellent trading platform. It supports the trading of a wide range of assets, including stocks, forex, commodities, and spot indices. The broker supports both the major, minor and exotic trading pairs. They have an intuitive trading platform that is easy to navigate for both beginners and expert traders.
The trading platform comes with various indicators and other trading tools that ease the trading process for traders. Although TradeFTM is not fully regulated at the moment, it ensures that its activities are transparent, and anyone can contact them via the official means stated on their website. The broker has also put in place some security protocols such as the SSL encryption and more to keep the personal funds and data of their customers safe. The market analysis and economic calendar features are extremely helpful at TradeFTM and they also offer a wide range of trading tools and features.
In terms of customer education, TradeFTM is top-notch. They have an expansive education center that contains articles for beginners and pro traders. As a result, you get to learn all you need to know about the forex trading market without searching for the answers in other places.
TradeFTM also offers bonuses and promotions for its customers which includes a welcome bonus up to 40%, depending on the account type opened, a re-deposit bonus, a no deposit bonus as well as a refer a friend bonus. TradeFTM is a leading broker in the financial industry and definitely a broker you can consider when it comes to trading assets online.
Overall Rating – 7.9/10
Author: Dov Herman
- Bitcoin ATMs Closing on 9,000 Worldwide - August 5, 2020
- Indians Five Times More Likely to Experience Cryptocurrency-Related Hacks: Microsoft Report - August 4, 2020
- Putin Signs Bill to Regulate Cryptocurrencies in Russia - August 3, 2020