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FXTM Review

Overall, FXTM is considered low-risk, with an overall Trust Score of 84% out of 100. FXTM is licensed by three Tier-1 Regulators (high trust), one Tier-2 Regulator (average trust), and one Tier-3 Regulator (low trust). FXTM offers three different retail trading accounts as well as Demo and Islamic accounts. FXTM is currently not regulated by the Central Bank of Botswana.

Updated : October 17, 2022

Jump to:

005 regulations book

Regulation and Safety of Funds

005 feature selection

Account Types and Features

006 add user

Account Registration

003 responsive design

Trading Platforms

002 candlestick

Range of Markets

007 fees

Fees

001 cash withdrawal

Deposits and Withdrawals

003 research

Education and Research

002 affiliate marketing

Affiliate Program

008 auction

Final Verdict

004 review

Pros and Cons

001 question

FAQ

Overall Rating

Min Deposit

USD 10 / 134 BWP

Regulators

CySec, FSCA 

Trading Desk

MetaTrader 4 and MetaTrader 5

Crypto

Yes

Total Pairs

Islamic Account

No

Trading Fees

Low

Account Activation Time

24 Hours

FXTM Overview

👉 Overall, FXTM is considered low-risk, with an overall Trust Score of 93 out of 100. FXTM is licensed by one Tier-1 Regulator (high trust), three Tier-2 Regulators (average trust), and one Tier-3 Regulator (low trust). In addition, FXTM offers three different retail trading accounts: a Micro Account, Advantage Account, and Advantage Plus Account.

 

👉 FXTM will be an excellent option for many Botswanan novice traders. It features a low-deposit Micro Account, a unique copy trading platform, and various video and textual instructional courses.

 

👉 Its daily market research will also help beginners understand the real-world consequences of news events on the foreign currency market and find trading opportunities.

 

👉 FXTM, or Forex Time, formed in 2011 with headquarters in Cyprus (Limassol) and regulated by the Financial Conduct Authority and other agencies, has been regarded as one of the top forex brokers in the world with the quickest growth rate.

 

👉 FXTM’s concentration on Africa and Asia contributed to its quick expansion in Europe and beyond within a few years after its inception.

 

👉 The spread on FXTM’s Micro account is on the upper end. However, it is exceptionally low on their Advantage account, an ECN-style account with Raw spreads and a low fee for high-volume traders.

 

👉 In addition, they provide a vast array of trading instruments, such as currency pairings, CFDs on Spot metals and Indices, equity CFDs, and commodities. There are a considerable number of CFD instruments accessible on their site.

 

👉 They provide the most recent MT5 trading platform in addition to MT4, their assistance is also extremely nice and prompt, and FXTM also has excellent trading education materials.

 

👉 FXTM accepts Botswanan clients and has an average spread from 0.0 pips with 0.40 – 2 USD commission. FXTM has a maximum leverage ratio of up to 1:2000, and a demo and Islamic account are available.

 

👉 MT4, MT5, and FXTM Trader platforms are supported. FXTM is headquartered in Cyprus and regulated by CySEC, FSCA, FCA, CMA, and the FSC in Mauritius.

 

FXTM Distribution of Traders

Distribution of Traders

👉 FXTM currently has the largest market share in these countries:

➡️ Viet Nam – 13.08%

➡️ Nigeria – 12.6%

➡️ United States – 7.8%

➡️ India – 4.6%

➡️ Italy – 4.02%

 

Popularity among traders who choose FXTM

👉 FXTM has a modest market share in Botswana. However, its popularity in the area ranks it in the Top 15 brokers for Botswanan traders.

FXTM At a Glance

🏛 HeadquarteredCyprus
🌎 Global OfficesCyprus, Mauritius, Kenya, Nigeria, India, Indonesia, South Korea, South Africa, United Kingdom
🏛 Local Market Regulators in Botswana• Ministry of Finance and Economic Development (MFED)
• Bank of Botswana (BoB)
• Non-Bank Financial Institutions Regulatory Authority (NBFIRA)
💳 Foreign Direct Investment in Botswana115.89 BWP Million in 2021
💰 Foreign Exchange Reserves in Botswana5270 USD Million in 2021
✔️ Local office in Gaborone?No
👨‍⚖️ Governor of SEC in BotswanaNone, Moses Dinekere Pelaelo is the Governor of the Bank of Botswana
✔️ Accepts Botswana Traders?Yes
📊 Year Founded2011
📞 Botswana Office Contact NumberNone
📱 Social Media Platforms• Facebook
• Twitter
• LinkedIn
• Instagram
• YouTube
• Telegram
⚖️ RegulationCySEC, FSCA, FCA, CMA, FSC Mauritius
1️⃣ Tier-1 Licenses• Financial Conduct Authority (FCA)
2️⃣ Tier-2 Licenses• Cyprus Securities and Exchange Commission (CySEC)
• Financial Sector Conduct Authority (FSCA)
• Capital Markets Authority (CMA)
3️⃣ Tier-3 LicensesFinancial Services Commission (FSC)
🪪 License Number• Cyprus – 185/12
• South Africa – FSP 46614
• United Kingdom – 777911
• Kenya – 135
• Mauritius – C113012295
⚖️ MFED, BoB, or NBFIRA RegulationNo
✔️ Regional RestrictionsThe United States, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus, Hong Kong
☪️ Islamic AccountYes
💻 Demo AccountYes
🛍 Retail Investor Accounts3
✔️ PAMM AccountsYes, MAM through MT4
💻 Liquidity ProvidersTop-Tier global banks, exchanges, and major financial institutions
✔️ Affiliate ProgramYes
📱 Order ExecutionInstant and Market
📊 Starting spread0.0 pips, variable
📉 Minimum Commission per Trade$0.40 to $2 depending on trading volume
💰 Decimal Pricing• Forex – 5 decimals (3 on JPY pairs)
• Metals – 2 decimals for XAU/USD and 3 decimals for XAG/USD
📞 Margin Call60% to 80%
🛑 Stop-Out40% to 50%
📉 Minimum Trade Size0.01 lots
📈 Maximum Trade Size100 lots
✅ Crypto trading offered?No
✔️ Offers a BWP Account?No
📉 Dedicated Botswana Account Manager?No
📈 Maximum Leverage1:2000
📊 Leverage Restrictions for Botswana?No
💳 Minimum Deposit (BWP)130 BWP / 10 USD
✔️ Botswana Pula Deposits Allowed?No, only USD, GBP, EUR
📊 Active Botswana Trader Stats250,000+
👥 Active Botswana-based FXTM customersUnknown
🔁 Botswana Daily Forex TurnoverUnknown, Forex overall is $6.6 Trillion
💰 Deposit and Withdrawal Options• International Bank Transfers
• Credit Card
• Debit Card
• Electronic Payment Gateways
• Bank Wire Transfers
💻 Minimum Withdrawal TimeInstant up to 24 hours
⏰ Maximum Estimated Withdrawal TimeUp to 5 working days
💳 Instant Deposits and Instant Withdrawals?Yes, instant deposits
🏛 Segregated Accounts with Botswana Banks?No
📱 Trading Platforms• MetaTrader 4
• MetaTrader 5
• FXTM Trader
💻 Tradable Assets• Forex
• Forex Indices
• Spot Metals
• CFD Kenya Stocks
• Kenya Stocks
• CFD US Stocks
• US Stocks
• Hong Kong Stocks
• CFD EU Stocks
• Spot Commodities
• Spot Indices
• Stock Baskets
✔️ Offers USD/BWP currency pair?No
📊 USD/BWP Average SpreadNo
✅ Offers Botswana Stocks and CFDsNo
💻 Languages supported on the WebsiteEnglish, Arabic, Chinese (Simplified), Chinese (Traditional), Czech, French, Hindi, Indonesian, Polish, Spanish, Italian, Korean, Malay, Russian, Thai, Vietnamese, Persian, Urdu
☎️ Customer Support LanguagesMultilingual
👥 Copy Trading SupportYes
⏰ Customer Service Hours24/5
📞 Botswana-based customer support?Yes
💸 Bonuses and Promotions for Botswanans?Yes
📚 Education for Botswana beginner tradersYes
📱 Proprietary trading softwareNo
🤝 Most Successful Trader in BotswanaCurrently unknown
✔️ Is FXTM a safe broker for Botswana Traders?Yes
🎖 Rating for FXTM Botswana9/10
🥇 Trust score for FXTM Botswana93%
👉 Open Account👉 Open Account

FXTM Regulation and Safety of Funds

Regulation and Safety of Funds

FXTM Regulation in Botswana

👉 The local market regulators in Botswana are as follows:

➡️ Ministry of Finance and Economic Development (MFED)

➡️ Bank of Botswana (BoB)

➡️ Non-Bank Financial Institutions Regulatory Authority (NBFIRA)

 

👉 While FXTM is regulated globally, the broker does not yet have local regulations or licenses in Botswana. However, FXTM is a popular and trustworthy broker that accommodates Botswanan traders.

 

FXTM Global Regulations

👉 The brand’s internationally recognized licenses demonstrate that FXTM takes regulation and transparency seriously. As a result, regulations are in place to ensure that FXTM works with the highest integrity and fairness while following stringent regulatory standards.

 

👉 In some nations, stringent regulation reassures clients that they are dealing with an honest and respectable broker.

 

👉 In these locations, FXTM is regulated by the following market regulators:

➡️ ForexTime Ltd is a private business in South Africa, with registration number HE 310361; the Financial Sector Conduct Authority (FSCA) regulates the broker as a Financial Service Provider (FSP) in South Africa, with registration number FSP 46614. This license has been confirmed and in good standing for FXTM since 2016.

➡️ Exinity Capital East Africa, Ltd is registered (PVT-ZQU6JE7) in Kenya and regulated by the Capital Markets Authority (CMA). Exinity Capital East Africa is registered as a Non-Dealing Online Foreign Exchange Broker under license 135.

➡️ The Financial Conduct Authority (FCA) of the United Kingdom regulates FXTM via Exinity UK Ltd with reference number 777911. The broker operates in the United Kingdom under three names: Exinity UK Ltd, ForexTime, and FXTM.

➡️ Exinity Limited is fully regulated by the Financial Services Commission (FSC) under registration number C113012295 and is registered in the Republic of Mauritius under registration number C119470 C1/GBL. In addition to its FS-4.1 category 1 global business license and SEC-2.1B investment dealer license (excluding underwriting), the Exinity Limited Group also has an FS-1.8 Global Headquarters Administration license from the FSC.

➡️ ForexTime Ltd is a broker authorized by the Cyprus Securities and Exchange Commission (CySEC) under license number 185/12 and registered in Limassol, Cyprus, under registration number 310361.

 

FXTM Client Fund Security and Safety Features

👉 In addition to several authorities, FXTM is controlled by the Markets in Financial Instruments Directive (MiFID), which was developed so that all EU members have a unified, comprehensive regulatory framework that safeguards investors.

 

👉 Per MiFID II’s regulatory framework, they post quarterly data on the execution quality of transactions and yearly data on the identity of execution venues and the quality of execution received on their website.

 

👉 Client monies are stored in separate bank accounts, so they cannot be utilized for other purposes inside the organization. However, clients who qualify may be eligible for financial protection under the Financial Services Compensation Scheme (FSCS).

 

👉 FXTM warns retail forex traders of the dangers of trading leveraged forex and CFD products by including proper risk disclosures on its website.

 

👉 Due to the complexity of these instruments and the related risk of loss, Botswanan traders must ensure that they only engage in transactions when they have the necessary knowledge and experience.

 

👉 Secure Socket Layer (SSL) network security is also used by Exinity Limited, ensuring that all communications are performed via a secure connection. In addition, FXTM employs user identification and server authentication rules, encrypted data transfer, and several other protocols.

 

👉 FXTM maintains solid financial conditions and adheres to transparent information protocols and policies.

FXTM Awards and Recognition

👉 FXTM has been awarded several industry awards over the past decade. The most recent awards include:

➡️ The Best Educational Program in 2022, awarded by World Financial.

➡️ The Most Trusted Forex Broker (2022) – World Financial Award.

➡️ Best Islamic FX Account in 2022 – World Financial Award.

➡️ The Best Mobile App (2022) – World Financial Award.

FXTM Account Types and Features

Account Types and Features

👉 Before finding your next big trading opportunity in the markets, you must first decide which trading account will help you do it. Each FXTM account type has settings and conditions tailored to your trading and investment goals.

 

👉 Whether you are a seasoned trader or brand new to the markets, FXTM will likely provide what you are looking for.

 

👉 All three trading account choices are available in demo mode, enabling you to evaluate the many benefits each provides while trading with virtual money in real-world market conditions.

 

👉 FXTM provides the following account types:

➡️ Micro Account

➡️ Advantage Account

➡️ Advantage Plus Account

💻 Live Account💳 Minimum Dep.📊 Average Spread💸 Commissions💰 Average Trading Cost
Micro130 BWP/ 10 USD1.5 pipsNone15 USD
Advantage6,500 BWP / 500 USD0.0 pips$0.4 to $26 USD
Advantage Plus6,500 BWP / 500 USD1.5 pipsNone15 USD

 

FXTM Live Trading Account Details

Micro Account

👉 FXTM’s Micro Account is intended for novice and experienced traders who are putting their trading skills to the test. This account gives traders access to real market conditions but with a lesser risk of loss since everything is valued in cents.

Account FeatureValue
💸 Minimum Deposit Required 130 Botswanan Pula, 10 EUR, USD, GBP, or 10,000 NGN
📊 Average SpreadsFloating from 1.5 pips EUR/USD
🔧 Trading Instruments available• Forex
• Metals
• Commodities
• Indices
• Forex Indices
• Stock Baskets
💵 Commission chargesNone
💻 Platforms Supported• MetaTrader 4
• FXTM Trader
📈 Base Account CurrencyUS Cent, EU Cent, GBP Pence, or Nigerian kobo
📉 Leverage and Margin• Forex – from 1:3 to a maximum of 1:1000 (Fixed)
• Metals – up to a maximum of 1:500 (Fixed)
🔄 Order ExecutionInstant Execution
📞 Margin Call (%)60%
🛑 Stop-Out Level (%)40%
☪️ Islamic Account OptionYes
📈 Limit and Stop Levels1 spread
🔄 Quote Decimals on Forex and Special Metals• Forex: 5 decimals (3 on JPY pairs)
• Metals: 2 decimals for XAU/USD, 3 decimals for XAG/USD
📈 Minimum Volume per trade (lots)0.01 lots
📉 Maximum Orders300 lots
📊 Maximum Volume per Order10 lots
💰 Maximum Volume in lots per order3,000 lots
💵 Maximum Pending Orders100 lots

 

Advantage Account

👉 The FXTM Advantage Account is the most popular option for most retail forex traders because it offers the best combination of competitive trading conditions and access to a wide range of financial products. The Advantage account is best suited for experienced traders using various trading strategies.

Account FeatureValue
💸 Minimum Deposit Required 6,500 Botswanan Pula, 500 USD, EUR, GBP, or 80,000 NGN
📊 Average SpreadsFrom 0.0 pips EUR/USD
🔧 Trading Instruments available• Forex
• Metals
• Commodities
• Indices
• Forex Indices
• Stock Baskets
💵 Commission chargesAn average between $0.40 and $2, according to the trading volume
💻 Platforms Supported• MetaTrader 4
• FXTM Trader
📈 Base Account CurrencyUSD, EUR, GBP, or NGN
📉 Leverage and MarginUp to 1:2000 (floating)
🔄 Order ExecutionMarket Execution
📞 Margin Call (%)80%
🛑 Stop-Out Level (%)50%
☪️ Islamic Account OptionYes
📈 Limit and Stop Levels1 spread
🔄 Quote Decimals on Forex and Special Metals• Forex: 5 decimals (3 on JPY pairs)
• Metals: 2 decimals for XAU/USD, 3 decimals for XAG/USD
📈 Minimum Volume per trade (lots)0.01 lots
📉 Maximum OrdersUnlimited
📊 Maximum Volume per Order100 lots
💰 Maximum Volume in lots per orderUnlimited
💵 Maximum Pending Orders300 lots

 

Advantage Plus Account

👉 The Advantage Plus account is designed for advanced Botswanan traders and professionals who want additional capabilities and access to some of the best trading conditions available. This account is suitable for busy, day, or high-frequency traders. This account has the following characteristics:

Account FeatureValue
💸 Minimum Deposit Required 6,500 Botswanan Pula, 500 USD, EUR, GBP, or 80,000 NGN
📊 Average SpreadsFrom 1.5 EUR/USD
🔧 Trading Instruments available• Forex
• Metals
• Commodities
• Indices
• Forex Indices
• Stock Baskets
💵 Commission chargesAn average between $0.40 and $2, according to the trading volume
💻 Platforms Supported• MetaTrader 4
• FXTM Trader
📈 Base Account CurrencyUSD, EUR, GBP, or NGN
📉 Leverage and MarginUp to 1:2000 (floating)
🔄 Order ExecutionMarket Execution
📞 Margin Call (%)80%
🛑 Stop-Out Level (%)50%
☪️ Islamic Account OptionYes
📈 Limit and Stop Levels1 spread
🔄 Quote Decimals on Forex and Special Metals• Forex: 5 decimals (3 on JPY pairs)
• Metals: 2 decimals for XAU/USD, 3 decimals for XAG/USD
📈 Minimum Volume per trade (lots)0.01 lots
📉 Maximum OrdersUnlimited
📊 Maximum Volume per Order100 lots
💰 Maximum Volume in lots per orderUnlimited
💵 Maximum Pending Orders300 lots

 

FXTM Base Account Currencies

👉 FXTM only permits trading accounts to be funded in EUR, USD, GBP, and NGN, which will frustrate Botswanan traders.

 

👉 In addition, the Botswanans will be subject to a currency conversion fee whenever they make a deposit or withdrawal from their BWP bank account into their USD account.

 

FXTM Demo Account

Demo Account

👉 On FXTM’s demo account, traders can easily practice trading risk-free, utilizing all trading methods in a real trading environment.

 

👉 Additionally, traders could boost their demo account’s virtual balance inside the MYFXTM interface. Demo accounts will stay active if traders log in at least once every 14 days.

 

👉 Botswanans who register a demo account with FXTM can expect the following unique features:

➡️ Advantage, the most popular account, often offers zero spreads on FX majors and spreads as low as zero on gold.

➡️ Access to all markets, including Forex, Metals, Shares, Stock CFDs, Indices, and Commodities.

➡️ Access to free educational material and tools and dedicated 24/5 customer support.

➡️ The ability to demo the Micro, Advantage, or the Advantage Plus account.

 

FXTM Islamic Account

👉 When Botswanan traders keep a position open for longer than 24 hours, they could incur/receive swaps or overnight fees depending on their position (long or short), the position size, and the instrument being traded.

 

👉 Sharia bans this form of interest according to Riba principles. Hence, Muslim traders are often limited in forex trading.

 

👉 FXTM allows Muslim traders to convert any of their three active trading accounts to an Islamic Account, which is free of overnight costs.

How to open an Account with FXTM in Botswana

Account Registration

👉 Account creation with FXTM is a straightforward online procedure that takes just a few minutes. On the website, Botswanan traders must fill out a basic form with personal, financial, and other information to assess their risk tolerance and trading experience.

 

👉 To comply with Know Your Customer (KYC) standards, traders must validate their email addresses and provide proof of their identity and physical address. After account verification, traders can deposit funds in their base currency.

FXTM Vs IG Vs BFSwiss – Broker Comparison

🥇 FXTM🥈 IG🥉 BDSwiss
⚖️ RegulationCySEC, FSCA, FCA, FSC MauritiusFCA, BaFin CySEC, FINMA, DFSA, FSCA, MAS, JFSA, ASIC, FMA, CFTC, NFA, BMACySEC, FSC, BaFIN, FSA
📱 Trading Platform• MetaTrader 4
• MetaTrader 5
• FXTM Trader
• MetaTrader 4
• IG Platform
• ProRealTime (PRT)
• L2 Dealer
• FIX API
• MetaTrader 4
• MetaTrader 5
• BDSwiss Mobile
• BDSwiss Web
💰 Withdrawal FeeYesNoYes, <100 EUR withdrawals
📊 Demo AccountYesYesYes
📈 Minimum Deposit130 BWP3,200 BWP1,300 BWP
📊 Leverage1:2000• 1:30 (Retail, EU, UK)
• 1:222 (Pro)
Up to 1:1000
📊 Spread0.0 pips, VariableFrom 0.1 pips, DMAFrom 0.3 pips
💰 CommissionsFrom $0.4 to $2From 0.10%$2 to $5
✴️ Margin Call/Stop-Out• 40% to 50% (M)
• 60% to 80% (S/O)
100%/50%50%/20%
💻 Order ExecutionMarket, InstantMarketMarket, Instant
💳 No-Deposit BonusNoNoNo
📊 Cent AccountsNoNoNo
📈 Account Types• Micro Account
• Advantage Account
• Advantage Plus Account
• CFD/DMA Trading Account
• Limited Risk Trading Account
• Options Trading Account
• Turbo24 Trading Account
• Share Dealing Account
• Spread Betting Account
• Swap-Free Trading Account
• Classic Account
• Premium Account
• VIP Account
• RAW Account
⚖️ CBN RegulationNoNoNo
💳 BWP DepositsYesNoNo
📊 Botswana Pula AccountYesNoNo
👥 Customer Service Hours24/524/724/5
📊 Retail Investor Accounts374
☪️ Islamic AccountYesYesYes
📉 Minimum Trade Size0.01 lots0.01 lots0.01 lots
📈 Maximum Trade Size100 lotsUnlimited50 lots
💰 Minimum Withdrawal TimeInstant up to 24 hours1 business day10 Minutes
📊 Maximum Estimated Withdrawal TimeUp to 5 working daysUp to five business daysBetween 7 to 10 days
💸 Instant Deposits and Instant Withdrawals?Yes, instant depositsYes, Deposits on PayPalNo

FXTM Trading Platforms

👉 FXTM offers Botswanan traders a choice between these trading platforms:

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ FXTM Trader

 

Desktop Platforms

Desktop Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

 

MetaTrader 4

👉 FXTM trading on MT4 gives access to hundreds of markets and financial products, including Forex, commodities, CFDs, and indices. It is free to use and provides all the tools necessary to monitor your assets and analyze the markets.

 

👉 MetaTrader 4 for Windows is necessary for the full technical analysis toolkit. In addition to front-end terminals, the MT4 platform includes back-office reporting capabilities for trading FX, commodities, and indices.

 

👉 MT4 is a quick, straightforward, and user-friendly trading platform that includes everything required to explore the markets in style.

 

MetaTrader 5

👉 MetaTrader 5 for PC is a professional technical analysis suite with MQL5, more than 80 indicators and tools, and the capacity to review up to 100 charts.

 

👉 The MT5 trading platform delivers a more intelligent and flexible trading system with unparalleled multi-currency and multi-language capabilities, regardless of the market traded. Trading on MT5 with FXTM will provide you with more access to a diverse selection of financial markets.

 

👉 It integrates comprehensive functionality, fundamental technical analysis, copy trading, and automated trading, giving you the best tools and resources. MetaTrader 5 may also be downloaded for free on Linux, macOS, and Windows PCs.

 

WebTrader Platforms

WebTrader Platforms

➡️ MetaTrader 4

➡️ MetaTrader 5

 

MetaTrader 4

👉 MetaTrader 4, in conjunction with FXTM, offers user-friendly, interactive charts that could be used for real-time market monitoring and analysis.

 

👉 In addition, Botswanan traders can use more than 30 available technical indicators to help them choose when it is best to join or exit the market based on the current market conditions.

 

👉 Botswanan traders can trade with complete peace of mind and at their speed with MT4, thanks to its advanced security system and support for many devices.

 

👉 In addition, traders who maintain several accounts on MT4 may use the Multi-Account Manager (MAM) to move freely between them.

 

👉 Trading on MT4 is simplified with this easy-to-use web-based trading solution. Botswanan traders just need access to the internet; no other software is required. Botswanans can enter their login information for their FXTM account and choose a browser.

 

MetaTrader 5

👉 FXTM eliminates the need to download any extra software to trade on the MT5 web platform.

 

👉 Instead, this user-friendly web-based trading system requires nothing more than access to the internet. To start trading, you must log in to your FXTM account from any browser.

 

👉 In addition to the standard charting and order execution tools, MT5 now includes a multi-threaded strategy tester, inter-account money transfers, and an alert system to keep you abreast of market developments as they unfold.

 

👉 The built-in MQL5 community chat allows traders to interact with one another, which has been shown to increase traders’ feelings of competence and self-assurance.

 

Trading App

Trading App

➡️ MetaTrader 4

➡️ MetaTrader 5

➡️ FXTM Trader

 

MetaTrader 4

👉 Since the introduction of MT4 for mobile devices, traders are no longer confined to using desktop or laptop computers. Instead, you can quickly adjust to market shifts with a single tap on your Android or iPhone’s screen.

 

👉 This, together with the 24-hour nature of the financial markets, is perfect for the busy investor.

 

MetaTrader 5

👉 There is greater flexibility and options for traders thanks to the mobile app. With this software installed on your Android or iOS device, you can respond to sudden market shifts quickly.

 

👉 The time-crunched modern trader will appreciate being able to make transactions whenever they like, Monday through Friday.

 

👉 You may install MT5 on your favourite iOS or Android smartphone and trade the markets from anywhere, anytime.

 

FXTM Trader

👉 The FXTM app, which is accessible for both Android and iOS smartphones, allows users to check current rates and make trades on the go.

 

👉 This trading platform is great for novice and seasoned forex traders due to its user-friendly interface, wide range of tools, and comprehensive demo account options.

 

👉 The United States, Canada, Japan, and a few other countries are not served by this service since it is only licensed and regulated in the United Kingdom, South Africa, Botswana, and Cyprus.

FXTM Range of Markets

👉 Botswanan traders can expect the following range of markets from FXTM:

➡️ Forex

➡️ Forex Indices

➡️ Spot Metals

➡️ CFD Kenya Stocks

➡️ Kenya Stocks

➡️ CFD US Stocks

➡️ US Stocks

➡️ Hong Kong Stocks

➡️ CFD EU Stocks

➡️ Spot Commodities

➡️ Spot Indices

➡️ Stock Baskets

 

Financial Instruments and Leverage offered by FXTM

🔨 Instrument💰 Number of Assets Offered📈 Max Leverage Offered
➡️ Forex601:25 – 1:2000
➡️ Forex Indices61:25 – 1:500
➡️ Spot Metals51:25 – 1:2000
➡️ CFD Kenya Stocks17
➡️ Kenya Stocks17
➡️ CFD US Stocks7641:500
➡️ US Stocks647
➡️ Hong Kong Stocks626
➡️ CFD EU Stocks501:500
➡️ Spot Commodities31:25 – 1:500
➡️ Spot Indices171:25 – 1:500
➡️ Stock Baskets5

Broker Comparison for Range of Markets

FXTMIGBDSwiss
➡️️​ ForexYesYesYes
➡️️​ Precious MetalsYesYesYes
➡️️​ ETFsNoYesNo
➡️️​ CFDsYesYesYes
➡️️​ IndicesYesYesYes
➡️️​ StocksYesYesYes
➡️️​ CryptocurrencyYesYesYes
➡️️​ OptionsYesYesNo
➡️️​ EnergiesNoYesYes
➡️️​ BondsNoYesNo

FXTM Trading and Non-Trading Fees

Spreads

👉 Spreads at FXTM are not fixed and may change depending on several factors, including the kind of account utilized, the financial instrument exchanged, and the day’s market circumstances.

 

👉 FXTM’s typical spreads for Botswana traders are as follows.

➡️ Micro Account – from 1.5 pips EUR/USD

➡️ Advantage Account – from 0.0 pips EUR/USD

➡️ Advantage Plus Account – from 1.5 pips EUR/USD.

 

👉 Other spreads that Botswanans can expect according to the financial instrument traded are as follows:

💰 Micro📈 Advantage📊 Advantage Plus
EUR/USD1.9 pips0.0 pips2.1 pips
Forex Indices (US)3.7 pips0.6 pips2.1 pips
XAG/USD22 pips3.4 pips
XAU/USD9 pips45 pips
CFD Kenya Stocks (ABSA)43 pips36 pips
Kenya Stocks (ABSA)5 pips
CFD US Stocks0.0 pips
US Stocks3 pips
Hong Kong Stocks3 pips
Brent Oil9 pips6 pips12 pips
Spot Indices (NASDAQ)0.4 pips2.3 pips
Stock Baskets (GreenID)14 pips12 pips12 pips

 

Commissions

👉 Only the Advantage Account, which offers the lowest spreads (zero pip spreads) from FXTM, is subject to these costs. Depending on the trader’s overall activity, the commission rates on the Advantage Account might range from $0.40 to $2 per trade.

 

Overnight Fees, Rollovers, or Swaps

👉 Overnight fees are charged or credited to a trading account when a trader holds a position overnight. The usual costs levied or debited by FXTM are transparent and vary depending on the trading instrument, the position’s size, and the position length.

 

👉 Botswanans should expect any or all the following as typical overnight fees:

➡️ EUR/USD – a short swap of 0.06 pips and a long swap of -0.39 pips.

➡️ XAG/USD – a short swap of -0.05 pips and a long swap of -0.08 pips.

➡️ XAU/USD – a short swap of -0.7 pips and a long swap of -3.4 pips.

 

Deposit and Withdrawal Fees

👉 There are no costs associated with depositing with FXTM. However, the following withdrawal methods do incur fees:

➡️ Bank Wire Transfer – 30 EUR

➡️ PerfectMoney – 0.5%

➡️ Visa – 3 USD / 2 EUR / 2 GBP

➡️ MasterCard – 3 USD / 2 EUR / 2 GBP

➡️ Maestro – 3 USD / 2 EUR / 2 GBP

➡️ Africa Local Solutions – 1 USD

➡️ FasaPay – 0.5%

 

Inactivity Fees

👉 If a trader’s account is inactive for more than 6 months, FXTM will charge them a $5 inactivity fee.

 

Currency Conversion Fees

👉 When Botswanans deposit funds in BWP, they could face currency conversion fees on deposits and withdrawals converted to the base currency of their trading account.

FXTM Deposits and Withdrawals

👉 FXTM offers the following deposit and withdrawal methods:

➡️ Bank Wire Transfer

➡️ GlobePay

➡️ Skrill

➡️ PayRedeem

➡️ PerfectMoney

➡️ Neteller

➡️ Visa

➡️ MasterCard

➡️ Maestro

➡️ Google Pay

➡️ Local Indian Payment Methods

➡️ Local Nigerian Instant Bank Transfers

➡️ Equity Bank Transfer

➡️ Ghanaian Local Transfer

➡️ Africa Local Solutions

➡️ M-Pesa

➡️ FasaPay

➡️ TC Pay Wallet

 

Broker Comparison: Deposit and Withdrawals

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FXTM Deposit Currencies, Deposit and Withdrawal Processing Times

💳 Payment Method💵 Deposit Currencies💳 Deposit Processing💰 Withdrawal Processing
Bank Wire TransferGBP, USD, EUR3 to 5 days24 hours
GlobePayGBP, USD, EURInstant24 hours
SkrillEUR, USD, GBP, PLN, CZKInstant1 working day
PayRedeemEUR, USDInstant24 hours
PerfectMoneyUSD, EURInstant24 hours
NetellerEUR, INR, USD, GBP, PLN, NGNInstant24 hours
VisaEUR, USD, GBPInstant24 hours
MasterCardEUR, USD, GBPInstant24 hours
MaestroEUR, USD, GBPInstant24 hours
Google PayEUR, USD, GBPInstant
Local Indian Payment MethodsINR24 hours24 hours
Local Nigerian Instant Bank TransfersNGNInstantInstant
Equity Bank TransferKES, USD, EUR1 – 2 days1 – 2 days
Ghanaian Local TransferGHS24 hours24 hours
Africa Local SolutionsKES, ZAR, RWF, TZS, UGXInstant48 hours
M-PesaKESInstantInstant
FasaPayUSD, IDR1 hour24 hours
TC Pay Wallet1 hour24 hours

How to Deposit Funds with FXTM

👉 To deposit funds to an account with FXTM, Botswanan traders can follow these steps:

➡️ Sign in to MyFXTM and click My Money.

➡️ Launch the Deposit page.

➡️ Choose the account or wallet you want to fund and fill out the necessary data.

➡️ Verify the deposit particulars.

➡️ Perform any further actions required by your payment provider.

FXTM Fund Withdrawal Process

👉 To withdraw funds from an account with FXTM, Botswanan traders can follow these steps:

➡️ Sign in to MyFXTM and click My Money.

➡️ Open the “Refund” page.

➡️ Select a payment method and click “Withdraw” to the right of it.

➡️ Select the account or wallet from which money will be taken and fill out the necessary details.

➡️ Select a withdrawal reason and then click “Submit.”

 

👉 Botswanans must be aware that withdrawals must be made proportionally to deposits using the same deposit method as the original deposit.

 

👉 The Back Office Department of FXTM processes withdrawals within 24 hours. However, the time necessary for funds to be deposited into a trader’s bank account will vary based on the chosen payment method.

FXTM Education and Research

Education

👉 FXTM offers the following Educational Materials:

➡️ Forex trading guides

➡️ Forex trading strategies

➡️ eBooks

➡️ Forex Glossary

➡️ Educational Videos

➡️ Articles and tutorials

 

Research and Trading Tool Comparison

🥇 FXTM🥈 IG🥉 BDSwiss
➡️ Economic CalendarYesYesYes
➡️ VPSYesYesYes
➡️ AutoChartistNoYesYes
➡️ Trading ViewNoNoNo
➡️ Trading CentralNoNoYes
➡️ Market AnalysisYesYesYes
➡️ News FeedYesYesYes
➡️ BlogYesYesYes

 

👉 FXTM also offers Botswanan traders the following additional Research and Trading Tools:

➡️ Daily Market Analysis

➡️ Podcasts

➡️ Economic Calendar

➡️ Forex Market News Timeline

➡️ Market Analysis Videos

FXTM Bonuses and Promotions

👉 FXTM offers Botswanan traders the following bonuses and promotions:

➡️ 30% Deposit Bonus until December when Botswanans register a real account and deposit a minimum of 100 USD / 1,300 BWP.

➡️ Refer A Friend Program where the referring trader and their referral could earn 50 USD once conditions on the bonus are met.

How to open an Affiliate Account with FXTM

👉 To register an Affiliate Account, Botswanan traders can follow these steps:

➡️ Completing the affiliate application form, which takes two minutes to complete. The application needs personal and business information and extra information like the potential partner’s FXTM ID and firm name if they have already registered with the broker.

➡️ The affiliate may then access the “Tools” area of the Affiliate Portal to get banners, links, and widgets for placement on their website.

➡️ Finally, Affiliates may begin receiving commissions from customers and their trading activity based on their CPA level and dynamic rebates.

 

👉 As an associate, you are not required to have forex experience or to meet with consumers in person.

 

👉 You need a popular blog, website, or a significant social media following. You will be provided with a complete set of marketing tools to assist you in promoting FXTM, and you will earn a commission when the traders you refer begin trading.

 

👉 During the 30-day Qualifying Period, you will get a high CPA based on the number of active traders. Following the expiration of the 30-day trial period, you will continue to benefit for the length of your clients’ trading lives.

 

👉 In addition, affiliates can track their activity and CPA using their advanced Affiliate Panel.

FXTM Affiliate Program Features

👉 Customers have a significant competitive advantage in the foreign exchange partnership market because of the partnership program’s one-of-a-kind benefits.

 

👉 The system is designed to accommodate many partners, such as bloggers, social media influencers, and Forex trainers, via its innovative hybrid Affiliate Program and its powerful Introducing Brokers Program.

 

👉 Each program is a doorway into one of the world’s most important financial markets. Each has been tailored to fit the specific needs of potential business associates.

 

👉 Affiliates often communicate with their consumers via digital means, whereas Introducers prefer to maintain human relationships with their clientele.

 

👉 In addition, Introducers get progressive refunds. Affiliates receive commissions for each Qualified Active Trader, even after the Qualification Period has ended.

 

👉 Select the partnership program that best meets your business needs to benefit from it. There are several advantages to joining FXTM’s affiliate program.

➡️ Progressive CPA for active traders who qualify.

➡️ Dynamic weekly rebates.

➡️ Guaranteed payments.

➡️ More CPA levels because of increased customer referrals to FXTM.

➡️ A selection of three affiliate levels.

➡️ Complete accessibility to current data and hourly reports.

FXTM Customer Support

👉 Customer service is available by online chat, phone, and email. You also get a dedicated account manager to help and provide personalized assistance.

Customer SupportFXTM’s Customer Support
⏰ Operating Hours24/5
🗣 Support LanguagesEnglish
🗯 Live ChatYes
📧 Email AddressYes
☎️ Telephonic SupportYes
📞 Local Support in Botswana?No
🥇 Overall quality of FXTM Support4/5

FXTM Corporate Social Responsibility

👉 The broker is dedicated to sponsoring and participating in economic, social, and cultural activities as the FXTM brand matures and expands internationally.

 

👉 This indicates FXTM’s status as a local broker; the broker’s engagement in a wide range of events and activities illustrates its commitment to the financial industry and the communities in which it works.

Our Verdict on FXTM

👉 FXTM has been in business for over a decade and has a worldwide presence, making it a major and established participant in the Forex and CFD brokerage industry.

 

👉 They are subject to stringent regulations in numerous countries and provide over 250 trading products across different marketplaces and intuitive desktop, online, and mobile platforms.

 

👉 The broker strongly focuses on education, providing a comprehensive array of trading accounts and accessible financing to accommodate all kinds of traders. As a result, FXTM is an excellent all-around broker. However, it has certain limits.

 

👉 Traders from South Africa may be worried about the absence of regulatory control and their lack of recourse in the case of a disagreement with FXTM.

 

👉 Traders might also be dissatisfied with the limited amount of financial assets accessible for trading. In addition, FXTM imposes substantial non-trading costs, including withdrawal commissions.

FXTM Pros and Cons

✔️ Pros❌ Cons
FXTM offers an enormous range of tradable instrumentsInactivity fees are charged on dormant accounts
There are several flexible deposit and withdrawal options offeredWithdrawal fees are charged on a few payment methods
FXTM is known for its tight spreads and reliable trade execution speeds
Botswanans can gain access to commission-free trading
There is a low minimum deposit requirement of 10 USD / 130 BWP on the Micro Account
There are free demo accounts offered on all trading accounts
There is an Islamic Account option provided for Muslim traders
MT4, MT5, and the FXTM Trader can be used to trade various markets

FAQ

How do I start trading on FXTM Trader?

After downloading the app, you may log in using your FXTM credentials (if you do not already have an account, you will need to create one).

Then, your account will be linked immediately to the app, and you can cancel, open, and manage transactions directly from there.

 

Who regulates FXTM?

FXTM is well-regulated by CySEC, FSCA, FCA, CMA, and the FSC in Mauritius.

 

Is FXTM safe or a scam?

FXTM is deemed secure because of its regulation by the premier FCA and several other reputable regulatory entities.

 

How long do withdrawals with FXTM take?

Withdrawals can be instant or take up to 5 working days, depending on the payment method used.

 

Does FXTM have Volatility 75?

FXTM does not currently offer Volatility 75 / VIX.

 

Does FXTM have Nasdaq?

FXTM offers Nasdaq on the Advantage and Advantage Plus Account on the Spot Indices market under NQ100_M.

 

Is FXTM a good broker in Botswana?

FXTM is regarded as a trustworthy and secure Forex broker for Botswanan traders due to its many years of responsible operation, regulation by some of the most stringent agencies in the world, and a lengthy list of accolades for the finest trading experience.

Conclusion

👉 Now it is your turn to participate:

➡️ Do you have any prior experience with FXTM?

➡️ What was the determining factor in your decision to engage with FXTM?

➡️ Was it because of the minimum deposit, regulation, retail trading accounts, or other factors?

➡️ Have you experienced any issues with FXTM, such as difficulty withdrawing funds, inability to verify regulations, irresponsive customer support, etc.?

 

👉 Regardless, please share your thoughts in the comments below.

Addendum/Disclosure:

👉 No matter how diligently we strive to maintain accuracy, the forex market is a volatile environment that may change at any time, even if the information supplied is correct at the time of going live.

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