Is not a secret that most of the buying and selling in Forex or a Stock Market is handled by a broker on behalf of a client. This is why a broker has such huge importance and needs to be trustworthy. Picking a broker is such an important task for a new trader, it’s the platform where you’ll be putting your money to work. That’s why today I’m writing an FXTM Review, one of the most trustworthy brokers in the market.
In the past years, day trading has been hit by a big wave of new traders, the popularity this has gained is amazing. And with this, a whole new era of brokers has come up. Many of those brokers have added new features in an attempt to stand out while trying to keep it simple for new traders. For example, we have seen a wide variety of money-saving, like the discount brokers and the zero spread account. This kind of feature will attract new and longtime traders.
FXTM is an abbreviation of Forex Time. A trustworthy broker firm that’s regulated by many global financial jurisdictions like CySEC of Cyprus, authorized by FSCA from South Africa, and extra offshore FSC in Mauritius. Forex Time has been leading the market by winning many global awards like Best Education Provider and Best Trading Experience. But of course, FXTM has some disadvantages that I’ll be listing below:
As you can see there is some minor drawback to consider. Forex Time has to stand for its ECN ZERO account, a type of account that has gained a lot of popularity lately
ECN stands for Electronic Communication Network, an order matching, and execution system. The broker charges a premium instead of a commission like usual. This feature is now of the most important elements in the Forex market.
One of the main reasons this has become so popular among traders is that it allows you to reduce or eliminate spreads when the market is very volatile. Also, it will give traders the best available bid and ask price in the market.
For many years the broker has played an important part in the investing/trading scenario. Acting as a middle man and giving resources to the investor, a broker is an indispensable tool.
Choosing a broker is an important task, so be sure to take a lot of things into consideration. The significant role a broker plays in your trading can determine a part of your profits. The advantages and disadvantages, how trustworthy a broker is, and its platform a some of the things to take notes of.