IQ Option Review – Must Read Review Incl App and Demo info for UK traders

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IQ Option

Rating Payout Min Deposit Bonus Regulated
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Payout: 91%* Min Deposit: £10 Bonus: Regulated:

Yes

IQ Option are one of the largest, and fastest growing, binary options and forex (FX) brokers trading at present – find out why here. Though binaries are currently withheld from UK traders, you can still use ‘FX Options’ which are similar products with limited risk, but open ended upside. We review the v4.0 platform, layout and how you can get the most from your trading account:

  • How to use the platform
  • The benefits of the mobile app
  • Payout information
  • Robot feature
  • Which additional features to make use of

IQ Option Group has two legal entities: IQ Option Europe Ltd based in Cyprus, which provides services to the EU clients and is regulated by CySec. Binary options are prohibited in EEA. IQ Option Ltd’s headquarters are in Seychelles, this company provides services to non-EU clients and is not regulated.

Binary and digital options are now prohibited in the EEA, including the UK, by ESMA. As a regulated firm, IQ Option can only offer trading to professional clients.

The good news for EU traders however, is that IQ Option have released a new product ‘FX Options‘ to attempt to plug the gap left by binaries. FX Options include the fixed expiry and limited downside of a binary trade – but also provide scope for larger upsides. Read the detailed explanation of FX Options below, or jump there via the Content Menu above.

Despite being relatively new to the sector, having formed in 2020, IQ Option have grown rapidly. This growth was due, in part, to offering low minimum deposits – making trading accessible to large numbers of traders, and ensuring they offered a smooth, enjoyable trading platform. In their words “the ultimate trading experience“. Strong affiliate partnerships boosted growth at a record pace.

CFD, Forex and Bitcoin

Since being founded, the firm have expanded beyond pure binaries. They now offer traditional forex trading, and also cfds. They led the way in cryptocurrencies, offering direct trading access to Bitcoin, Ethereum and others.

In addition to these new trading options, they also added risk management features. Tools such as stop losses and take profit have been added to ensure the forex and cfd traders have all the advanced features they would expect with leveraged products.

IQ Option are not a scam. The firm are CySec regulated (and adhere to the MiFID guidelines) and have started to collect some of the more prestigious awards in the sector too – including ‘Most reliable binary options broker‘ in 2020, from MasterForex-V. The brand continues to grow and innovate and traders will be offered a demo account (practice account) immediately on registering, without the need for a deposit.

  • Demo Account – Yes. Available to anyone via the demo login. No time limit and balance can be reset as often as required.
  • Minimum Deposit – £10
  • Minimum trade – £1 (Maximum trader variable)
  • Signals service – Yes, provided within trading platform.
  • Bonus details – None. CySec moved to end the practise of deposit match bonuses and as a regulated broker, IQ no longer offer a deposit bonus.
  • Mobile App – Yes. IQ provide an excellent mobile trading app. These are covered in more detail below.

Trading Platform

Updated v4.0 Platform review

IQ Option have recently rolled out the much anticipated v4.0 platform to all traders. It is a visually stunning platform, and sets the gold standard for binary options brokers.

The old strengths remain – it is a fully configurable platform. Traders can arrange trading windows as they wish – focus on just one, or manage a whole range – whatever suits the trader best. Our screenshot illustrates one ‘main’ window, with three other assets underneath. All can be traded simultaneously.

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The price graph makes up the main part of the trading platform. But down the left hand side of the trading area are the navigational buttons to move to different areas of the website (these can be collapsed when not required) – and alongside those are some powerful technical analysis features.

New technical analysis tools have been provided, and these are available from a small menu at the bottom left corner of the price graph.

  • Plot Type
    • This option allows traders to amend the graph to a format they prefer to work with. Options include the traditional candlestick, line and bar charts – in addition to the default area graph. Each can be tailored in terms of colour and appearance.
  • Time Interval
    • This is an added area of flexibility. It is surprising how many brokers overlook the fact that traders may want to expand or collapse the time frame of the price graph they are looking at. IQ have added a great layer of flexibility for traders to dive into the price charts and map any trends accurately.
  • Graphical Tools
    • A natural progression from allowing the charts to be expanded, is to allow traders to draw their own interpretations on to charts. The graphical tools allow traders to add trends, or support and resistance lines – the tools can be used however a trader wishes. This is vital for traders wanting to get their timing right – but again, not always something that is provided on other trading platforms.
  • Indicators (Technical Analysis)
    • Binary options suit technical analysis, and IQ have provided 9 technical analysis techniques that can be overlaid on the price graph. Traders can watch the MACD run beneath the prices as they move, or overlay Bollinger bands. Again, each tool is configurable, so moving averages can be amended to suit the trader. Ever wanted to amend the ‘smoothing’ ratio on the Stochastic oscillator? with IQ option, you can! In all seriousness, these tools are as powerful as any high end CFD or Forex broker and IQ really have raised the bar within binary options.

More configurable

IQ have added more configurability to the platform, so traders can set their own colour schemes and hide or show menus depending on their preference. This extends to the trading windows too, where IQ have provided a range of preset layouts to make trading multiple assets much easier.

The Expiry and Amount fields have also had a redesign, with “+” and “-” buttons being added so that expiry times can be pushed back, or brought forward and the trade amount can be clicked higher or lower very easily – without the need to type figures in.

IQ Option also try and add new features to give traders more flexibility. The Position Top-up facility means traders can add funds to a trade to keep it open if it approaches a stop loss. This offers new choices in terms of risk management or trading strategy.

Charts

There are tools to amend the time frame of the chart, as well as the plot type (for example, bar charts or candlesticks etc). The technical analysis features are a great addition – traders can add MACD, Bollinger bands or any of the other 8 analysis tools available. They are added instantly to the chart and traders can refine their trades as they need. The drawing buttons allow traders to add freehand graphics to the charts – so they can add trend lines or resistance and support levels.

Just above the new analysis options is the trader sentiment bar. As ever, this shows the way other traders are trading the particular asset. Above that are options to minimise or close the current asset trading window.

The charting offers experienced traders the chance to perfect the best strategy.

Select An Asset

To select an asset, traders can select the drop down arrow at the top of the platform. This will open a new window, where the trader can choose which type of option to use and then select the category of asset (for example forex or indices) and then the specific asset, from eur/usd to Facebook stock. Once selected, the price graph will update for the chosen market.

There are also ‘tabs’ across the top of the trading area where traders can quickly move to assets or markets that they have traded previously. Open positions will also appear as a new tab here – making switching very easy.

The price graph presents all the relevant trading information. The graph itself illustrates the recent price movements, but overlaid on the graph will be vertical lines showing the purchase deadline (the time by which a trade must be confirmed) and the expiration time.

Expiry And Trade Size

There is a ‘Time‘ drop down menu to the right of the graph, and this can be used to amend the expiry time – if changed, the purchase deadline and expiration time will move on the price graph, giving a visual indication of the timings. The -/+ buttons will shift the time to the next applicable time slot.

Also listed on the right hand side are the other key figures for the trade. The trade amount is just below the expiry time – the minimum trade value is just £1. The payout for that specific asset is then displayed. This confirms the percentage returned in the event of a successful trade.

Next comes the Profit indicator, this shows exactly what figure will be returned if the trade is placed – and includes the original investment amount. Finally in the bottom right are the trading buttons. They are clearly marked, not just with the relevant wording, but with arrows to indicate the trade direction as well – and just incase that were not enough, when each button is hovered over, an arrow will appear on the price graph, to show which way the price will need to move in order for the trade to finish in profit.

Where forex of cfd trades are opened, the layout will differ. Additional information such as leverage and stop losses will appear as and when relevant. Traders can also select a ‘take profit’ level to close their trade at a desired price.

Single Click Trading

The trading buttons at IQ Option are ‘single click‘ which maximises the opportunity for traders to get the price they want. There is no confirmation window or approval delay. Once placed, a trade will be available in the ‘Open positions’ window, and a line will also appear on the price graph at the strike price. Once the expiry time is reached, a window will appear confirming if the trade was successful or not, and confirm the profit / loss.

It is a visually exciting, smooth trading environment, with just enough configurability to satisfy almost every trader. While the emphasis is on appearance, the addition of excellent charting and technical analysis tools has raised the bar for the brand – and taken what was already an excellent platform, and turned it into the industry benchmark. Other brokers may offer more trading choice – but none will offer a better trading platform.

FX Options

FX Options are the innovative new product that deliver the same limited liabilities of a classic option, and the same principals of expiry times – but also deliver price driven upsides that are unlimited.

An FX option allows a trader to go higher or lower on an asset’s price – but they can choose their own strike price. The payout %’s range from -100% (where the trader loses the total amount of that single trade) up to 2000% or greater where the price moves significantly.

As the options are subject to a set expiry time, the usual ‘greeks’ apply, and the ‘sell’ value of an option will vary based on the underlying and the time to expiry. It does however, mean that traders can close (or sell) their option at any time before expiry – either to lock in profits or cut losses.

Currently the trades are only available with 1 hour expiries, and only on the five major currency pairs. This range will certainly be expanded as the brokers takes stock of trader interest.

The screenshot above illustrates the FX option trading screen. The red/green bar on the right illustrates the range of payouts in a single trade. Just to left of those are the strike price choices for the trader. Amending the strike price changes the payouts. They will also vary as the option moves closer to expiry.

FX Options offer UK traders the following benefits:

  • Unlimited return potential
  • Potential losses limited to the amount invested
  • Adjustable strike price
  • 1 hour expiration time
  • Ability to close a position before it reaches maturity

In addition, the number of markets that IQ offer with FX Options is expanding. Recently added markets include commodities (gold, silver and oil) and indices, including the FTSE and S&P 500.

Classic Options

IQ Option have released a new form of trading, which they have called “Classic Options”. These retain some of the fixed risk associated with binaries, but allow leveraged profit too. So they are similar to a traditional investment, but with a stop loss built in.

The classic option has no short term expiry, and can be closed at any time. This makes it much closer to “traditional” investing. At present, IQ only provide classic options on US stock assets. They are sure to be a popular feature and therefore expanded with time.

Traders can select a strike price. Each level will change the levels of profit and risk of that trade. A user then chooses the amount of “contracts” they want. The cost will be relative to the strike price, and is shown clearly on the Call and Put buttons.

Open trades a visible from the trade history tab, and can be closed at any time. Current profit and loss on each trade shows the up to date status of the option. Overall the classic options look a great choice for traders that like to use fundamentals rather than technical analysis. As noted above, they ‘feel’ more like a CFD, but with a built in stop loss to manage risk.

Here is a video tutorial which demos the FX option product:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs.

You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Trader choice

The firm have kept adding to their list of assets. In addition, they have also expanded their choice of expiry times – particularly from the binary options lists. End of day, end of week and end of month are now also available. This is a big step for a broker that offered purely short term trades before.

Binary Options – The basic binary option. Will the asset rise in value, or fall? The expiry times on offer with these has grown. Now traders can select from 15 minutes up to end of day, week or even month. Binary Options are however no longer available to retail traders within the EEA, only professionals.

Turbo – Exactly like a traditional binary option, but with short expiry times. Turbo options are usually available in one minute levels, from 1 minute, up to 5 minutes.

Forex – Traditional foreign exchange, offering per pip payouts. The forex windows offer different leverage levels and competitive spreads. Forex markets mean weekend trading is now available.

CFD – IQ Option offer direct access to some markets via contracts for difference. These include the latest range of cryptocurrency markets, including Bitcoin and Ethereum, among others.

Coming Soon – FX Options – These combine elements of binaries and forex trades with simple Call / Put options alongside scalable profits – but with a set expiry.

IQ Option will add assets as their users demand it. Recently the Nintendo share price saw a lot of interest, due to the Pokemon Go release. The broker was quick to add Nintendo to their list of assets. This reflects a desire to deliver the products their clients demand. The asset lists at IQ are now very comprehensive.

Cryptocurrencies

IQ have led the way in making crypto trading available to retail traders. They offer trading on a huge range of cryptocurrencies, including the larger, most traded assets such as Bitcoin and Ethereum. These assets are available to trade as CFDs, or using traditional Forex models.

Non-EU traders can also trade crypto another way too – using Crypto Multipliers. These are effectively the same as using leverage, so accelerate profit or loss rapidly. There is a Bitcoin x 100 market for example, where the underlying price is multiplies by 100 – increasing volatility and the potential for profit or loss. This market proved so popular that IQ Option have added similar products on other leading cryptos, with a range of multipliers, from x20, to x50 up to x100.

IQ Option Mobile App

New iOS version

Apple recently announced changes to the binary market in the Apple store. IQ Option have already responded and developed a new application for iOS that meets the new rules. Compatible with iOS 9.0 and higher, the app builds on the IQ offering.

Forex and CFD trading are available, and the firm will add cryptocurrency asset trading as soon as it is released on the full site. The speed with which IQ were able to respond to the Apple changes was impressive. They have always been at the forefront of mobile trading development. This new offering will be unique within the Apple store until other brands catch up with the new rules.

Android App

The mobile app maintains the simplicity of the trading area on the website, and retains the split second charting that makes trading binaries viable. The layout is incredibly clear, and can be tailored to suit the needs of individual traders.

In addition to the trading facilities, there are also features to maintain account details, including the ability to request withdrawals from the mobile app. The team developed their mobile offering in-house and the attention to detail is evident.

While some trading apps appear to have been purchased ‘off the shelf’ in order to tick a box, this broker has clearly spent some time and effort getting their mobile app right. The recent updates have also taken into account feedback from traders using the mobile app, and appears to be another step forward.

Download the App for iPhone or android

Payout

Payouts at this broker are a clear strength. The most traded assets see payouts of around 85%, with some assets reaching 91%. (Amount will be credited to account in case of successful investment). As ever, the payouts will vary based on expiry times and the asset selected.

Forex and CFD payouts will vary based on the performance of the underlying asset. IQ supply plenty of risk management tools including stop losses and user set leverage amounts.

FX Options payouts also vary based on performance of the underlying asset.

Withdrawal and Deposit Options

Deposits can be made via credit card (all major cards accepted) as well as wire transfer and online transaction services such as Skrill and Neteller. The minimum deposit is just £10 – The initial deposit will dictate which account type a trader moves into. Deposits via Paypal are not available and will result in an error.

A deposit of £3000 will move a trader into the VIP account type – this offers a range of improved benefits, including improved returns on certain markets, access to an account manager and VIP training materials.

Withdrawals are on occasion subject to certain verification processes at IQ Option, including proof of identity. In order to avoid any dispute, it is always better to clarify these requirements before needing to make a withdrawal. All the verification can then be put in place well before monies are requested. Non verification is the biggest cause of delays.

Withdrawals are available via the same payment methods as deposit – namely credit and debit cards, and wire transfer. All withdrawals are free. They are also processed the same day.

Open Trade Network

IQ Option have begun the roll out of their blockchain based cryptocurrency exchange. It is called the Open Trade Network (OTN) and is built on the Ethereum blockchain platform.

It will be a stand alone cryptocurrency wallet and exchange designed to meet the needs of a growing market and regulators who will undoubtedly want to oversee operations. Now in it’s earliest stages the wallet and exchange are expected to be live in early 2020.

The opportunity for traders is this; IQ Option is not raising money for this project through an ICO. Instead OTN coins will be awarded to traders, wallet users and token holders as an incentive to use the platform and provide liquidity.

IQ Options will recoup their investment through a portion of coins held for that purpose. The total number of coins to be issued is 100 million with 42 million going to the traders and wallet users over the next 2 years. Once the platform is live OTN tokens will be tradable and sellable on the open market.

It is an exciting development. Analyst tips regarding this broker are always bullish because of their constant improvement. This blockchain innovation reflects the major disruptive influence IQ are trying to generate in the finance sector as a whole.

Other Features at IQ Option

The brand offers their clients a range of other features and benefits:

  • Technical Analysis Icon – Within the trading area, there are some technical analysis tools incorporated into the user options. These include trend line tools and moving average and Bollinger band indicators.
  • Range of Educational material – They deliver a suite of education training videos as well as one to one support on occasion
  • Tournaments – Prove yourself among the best traders and gain extra financial rewards for performing in tournaments. The firm run a range of regular tournaments that traders can buy into to increase profit.
  • Bitcoin – IQ Option give traders to chance to invest directly in bitcoin and other cryptocurrencies via their latest range of cfd type options. This is a solid option for UK traders looking to get simple access to bitcoin and ethereum markets – they are not always easy assets to speculate on – until now.

Does the platform require a software download?

The firm provide trading both online, and also with a software download (mac or PC). So traders have the choice. The downloaded software provides a slight speed benefit, but the online trading platform performs very well too. There is also the mobile app for trading on mobile devices – that does require downloading.

Binary options are only available to professional traders. Retail traders from the UK are not permitted to use them, so IQ Option will not show them in your account. FX Options represent a very similar ‘fixed risk’ product, but unlike binary, have an unlimited upside.

Do they have good liquidity?

IQ Option have grown rapidly in the last two years. They now boast over 11m accounts, and provide 3m trades a day. That offers them a huge amount of risk management, and trader reassurance that the trading platform provides a large amount of volume and liquidity.

Who regulates the company?

This broker is regulated by CySec.

How do they make money?

The firm make money by balancing trader sentiment (buyers and sellers) and taking counter party risk on each trade. Where there is a significant imbalance in trades, IQ Option will reduce their exposure by offsetting risk with a market maker. We explore how brokers make money in more depth on the brokers page.

Contact Details

IQ Option offer a range of contact methods:

  • Email – [email protected]
  • UK Telephone +44 20 8068 0760(London), or +44 80 0069 8644
  • Group Details: Registration No. HE327751
    Address: Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33,
    4102, Agios Athanasios, Limassol, Cyprus

Telephone support is offered in 18 different countries including Australia, India, Thailand, Brazil, Germany and Spain. Users needing to unblock, delete or close an account, need to go via the helpdesk. There is also the option of Live chat via the website.

* Amount will be credited to account in case of successful investment

FXTM Review and Tutorial 2020

FXTM Are leading forex and CFD brokers. Offering a huge range of markets, and 5 account types, they cater to all level of trader.

Traders in Russia welcome
FXTM Facts & Figures
Awards
• Best ECN Broker 2020 – DayTrading.com

FXTM Offer forex trading on a huge range of currency pairs. Spreads can be as low as 0.1 with the ECN Account types.

FXTM offer crypto trading via Exinity Limited Instruments offered are based on your country of residence.

Bonus 30% Up to $100 via Exinity Ltd
Instruments CFD, Forex, Crypto, Stocks
Demo Account Yes
Min. Deposit From $10
Min. Trade 0.01 Lots
Regulated By FCA, CySec, FSCA, FSC of the Republic of Mauritius
MT4 Integration Yes
Mobile Apps iOS, Android and Windows
Auto Trading Yes, via FXTM Invest or EAs
Trade Signals Yes
Islamic Account Yes
CFD
FTSE Spread 1.3 pts
GBPUSD Spread 0.3 (var)
Oil Spread 9 pts (var)
Stocks Spread 0.1% Var
Forex
GBPUSD Spread 0.3 (var)
EURUSD Spread 0.1 (var)
EURGBP Spread 0.2 (var)
Assets 50+
Cryptocurrency
Spread BTC 200, ETH 200
Coins BTC, ETH, LTC, XRP

FXTM Review – FXTM are a leading forex and CFD broker. This review details their service, including account types, the trading app, the demo account and of course the trading platform, including MT4. We also list any current bonus offers and key comparison data such as min deposit and min trade amounts. Read on and login today.

Trading Platform

FXTM offers a range of trading platforms. Desktop or laptop users can choose from Metatrader 4 or Metatrader 5. These are the go-to platforms for trading, with an excellent reputation.

Metatrader 5 is available for download use on laptops or desktops, but not for small screen users, who will need to continue with Metatrader 4. Both Metatrader versions are easy to navigate and include shortcuts which make opening and/or closing trades fast and straight-forward.

Metatrader 5 offers the following added benefits to those provided by Metatrader 4:

  • Improved number of order execution types (4 as against 3).
  • MT5 has an edit function for trades, as well as an increased number of pending orders available.
  • There are a significantly larger number of technical indicators (38 as against 30), graphical objects (44 as against 31) and time frames (21 as against 9).
  • MT5 also incorporates an economic calendar.
  • MT5 also has an intriguing community chat feature, which allows traders to communicate with one another.

Mobile users can take advantage of the Metatrader 4 app, which is available in a format suitable for both Android and iOS devices.

MT4 Webtrader is also available for use on PCs and MACs. This is a software free version that’s web-based. This means that traders can simply log on and start trading – there’s no need to download anything first.

Assets / Markets

Instruments offered will vary based on country of residence of the Trader.

FXTM offers opportunities to trade in the following markets:

  • Forex
  • Cryptocurrencies (Bitcoin, Ethereum, Litecoin etc) Note: FXTM offer crypto trading via Exinity Limited – Instruments offered are based on your country of residence.
  • CFDs for Indices and Commodities (FTSE, DAX, Nasdaq etc)
  • Spot metals (Gold, Silver)
  • Shares CFDs (Apple, BP, Google etc)

FXTM Mobile App And Trading Platforms Incl MT5

Spreads & Commission

Commission percentages are relatively low for Forex traders and around the industry average for CFD trades. With ECN account options, spreads can be as low as 0.1 points. With the Standard Account, spreads start a little higher, but remain very competitive.

In this respect, FXTM is a good provider to trade with.

Please note that Spreads are floating and they may increase during specific periods of the day depending on the market conditions.

The company does introduce a number of additional charges that, if they are applied, can make them an expensive choice. For example, there is an inactivity fee, which means that if your account isn’t used for a period of time, a charge is levied.

Leverage

Leverage rates vary depending on the trade being considered.

For the majority of the major Forex pairs, leverage is set at 1:30. These include trades major pairs, such as EURUSD. This is a level imposed by ESMA regulation and is the same across most regulated brokers.

For less commonly traded pairs (minor Forex pairs), leverage is set at 1:20. Such pairs include AUDCAD, EURNOK, EURAUD, NZDUSD, EURPLN and USDSGD.

Metals leverage is as follows: 1:20 for XAUEUR, XAUGBP and XAUUSD. For XAGEUR and XAGUSD, the leverage is 1:10.

Leverage is offered on some indices. For example: 1:5 on USTech100(mini), 1:10 on Spain35

Commodities: leverage of 1:10 is offered on US crude as a spot commodity.

Leverage of 1:5 is offered on CFD US shares.

Note that leverage is not automatically agreed. FXTM will agree leverage based on individual experience, previous trading record, degree of customer loyalty and various other factors.

FXTM Pivot Point Strategy

Mobile Apps

The site offers users the choice of two different apps.

The first one is the mobile app which enables trading via Metatrader 4. This app is available for download in both Android and iOS formats. The app can be downloaded from the site.

This app gives users access to all MT4 functions, enabling effective trading on the move. What it doesn’t do is provide users with access to the enhanced functionality and information which the MT5 platform gives. This can be frustrating for traders who wish to use MT5 on the move, but have no choice but to make do with MT4.

The second app, available from the Apple App store or from Google Play, is the MyFXTM trading app. This is offered in both iOS and Android format. Designed to provide an enhanced trading experience, features include:

  • 250+ financial instruments
  • The ability to modify, open and close positions rapidly
  • A trading dashboard
  • Real-time updates
  • Advanced charting tools
  • Single click trading

This is a great all-round app for mobile trading and is a great addition to the online platforms.

Payment Methods

FXTM offers multiple deposits and withdrawals methods, all geared towards inclusive trading.

Deposits

Deposits can be completed through the following methods:

Some deposit methods have a two-hour processing time, while others are instant. All deposit methods are commission-free.

Minimum deposits vary based on the type of account:

  • Standard Account £/$/€100
  • Cent Account £/$/€10
  • Shares Account £/$/€100
  • ECN Acc MT4 and MT5 £/$/€500
  • ECN Zero Account £/$/€200
  • ECN Pro Account £/$/€25000

Withdrawals

Withdrawals are available using the following methods:

Visa, Maestro and Mastercard: these transactions are usually processed the same working day. The money can be withdrawn in USD, GBP or EUR. Commission is set at 2EUR/3USD/2GBP.

Neteller withdrawals are processed the same working day. Money can be withdrawn in USD, GBP or EUR. No commission is charged.

Similarly, Skrill withdrawals attract no commission and are processed the same working day.

Bank transfers take 24-hours to process and the only available currencies are GBP or EUR. The fees for bank transfers are 10EUR or 5GBP.

If you intend to withdraw cash, the best methods are via a credit card, Neteller or Skrill.

Note that FXTM may ask for additional information before authorising a withdrawal. If this isn’t forthcoming promptly, the withdrawal may take much longer than the stated period.

Demo Account

FXTM offers a high-grade demo account which enables individuals to hone their trading skills before investing their hard-earned cash. Forex is traditionally seen as a risky form of trading, so making sure that you have the correct skills before beginning to “trade for real” is essential.

Demo accounts are available on the Standard, Cent, ECN and ECN Zero Accounts.

FXTM Trading Signals

Deals And Promotions

Several bonuses and promotions are available at Exinity Limited. These include, among others, the 30% Bonus and the FXTM Loyalty Program. Please note that all promotions and contests come with Terms and Conditions.

Forextime Limited and Forextime UK Limited only offer the Loyalty Program (T&Cs apply) which is applicable only to Elective Professional/Professional Clients or Eligible Counterparty.

Education

One of the areas in which FXTM is extremely strong is the amount and calibre of the educational material that is available. Users can select from a comprehensive range of materials, presented in a variety of formats. Resources include webinars, tutorials, articles and a glossary of terms. Topics covered include:

  • Ebooks
  • Forex trading seminars
  • Forex trading webinars
  • Forex glossary
  • What is Forex?
  • Beginners guide to Forex trading
  • Forex trading strategies
  • Educational videos
  • Articles
  • Periodic table

This spread of information provides a wealth of knowledge for both beginner traders and those with some trading experience.

The materials are well-written and easy to follow. The variety of formats mean that there is something suitable for learners with different styles.

In addition, the customer support team are also available to answer trading queries, providing additional support for traders. Particularly when new traders take advantage of the demo account to try out their techniques and strategies before trading live, there is the potential to obtain a good, solid grounding in how trading operates and how best to take advantage of the market.

Whilst study of the educational materials alone is not going to guarantee success, the quality and quantity of material available, as well as the additional tools which traders are offered, back up FXTM’s reputation as a responsible, helpful broker who puts customer care at the heart of what they provide.

Regulation And Licensing

As indicated earlier, FXTM is licensed by CYSEC (the regulatory body for Cyprus) and the FCA (the financial regulatory body for the UK).

In addition, it is also licensed in Belize and South Africa. CYSEC and the FCA are widely recognised as rigorous financial bodies. In order to be regulated and licensed by these authorities, FXTM has to demonstrate a high level of financial accountability and fair, transparent and honest trading.

Full Regulatory Details:

ForexTime Limited ( www.forextime.com/eu ) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475.

Exinity Limited ( www.forextime.com ) is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295.

Forextime UK Limited ( www.forextime.com/uk ) is authorised and regulated by the Financial Conduct Authority, firm reference number 777911.

Additional Features

In addition to the other benefits which FXTM provide, they also offer free trading tools and daily commentaries from the FXTM team of experts.

A loyalty programme is in operation at FXTM: regular customers who sign up to the loyalty programme are able to benefit from a reduction in trading fees on every trade that they complete.

The loyalty programme is divided into five different levels, or tiers. Which tier a customer is in depends on the amount that they deposit. The bigger the deposit, the higher the discount they can expect to enjoy on each trade.

  • Level 1 of the loyalty programme (for investors with a balance between $0 and $4,999) can enjoy savings of $300 ($1 on 0-100 lots, $2 on 100+ lots).
  • Level 2 traders (with a balance of $15,000 to $49,999), can enjoy a maximum saving of $1,500 (or the equivalent in GBP or Euros).
  • Level 3 traders (who have a balance of $50,000 to $99,999), can expect to enjoy $3 off 0-100 lot trades and $4 off 100+ lot trades, to a maximum of $3,000.
  • For Level 4 traders who have deposited $100,000 to $149,999, the discounts are $4 on 0-100 lots and $5 on 100+ lots, to a maximum of $6,000.
  • Finally, Level 5 traders (the top tier of the loyalty programme, where balances are $150,000+) can benefit from $5 off every trade (both 0-100 lots and 100+ lots) to a maximum of $10,000. This loyalty programme has the advantage of being a direct, cash discount, rather than virtual points or similar.

The site also offers regularly updated commentary on various aspects of trading by FXTM experts. FXTM is frequently quoted on trading sites and in the media, as they are recognised as providing high-calibre insights. This wealth of expertise may give FXTM traders an advantage when it comes to making informed decisions about their trading options.

Account Types

FXTM offers the following accounts:

  • Standard Account: This account is also available without the SWAP option; fixed leverage for each instrument; fast actioning; hedging is permitted; narrow floating spreads; all commission is clearly displayed; offered in three different currencies – euros, pounds sterling and US dollars.
  • Cent Account: Fixed leverage for each instrument; the account also comes without SWAP; narrow floating spreads; rapid execution; rigid leverage for each instrument; the units of currency are UK pennies, USD cents and Euro cents; Single cent lots are available.
  • Shares Account: This account does not charge commission; over 170 US shares on offer; rapid transactions; hedging is permitted; three currencies offered (GBP, USD and EUR); the fixed leverage ratio is 1:5, and an account without SWAP can be opened if required.
  • ECN Zero Account: Narrow floating spreads; static leverage for each instrument; both scalping and hedging are permitted; no SWAP option available; the account doesn’t allow re-quotes.
  • ECN Account: Euros, pounds and US dollar options available; spreads start as low as 0.11; commission commences from a low $4; permitted scalping and hedging; no SWAP choice on offer; re-quotes aren’t permitted.
  • FXTM Pro Account: Zero commission; really rapid market execution without re-quotes; SWAP free account with these benefits is also available; direct access to liquidity from high-calibre providers; zero last-look pricing; fixed leverage.

This range of accounts covers the needs of most customers, including Islamic customers. All accounts offer a good range of benefits and can be tailored to suit individual requirements.

Benefits

– FXTM is well-known for having excellent customer care, providing a prompt, helpful and accessible service.
– They are tightly regulated, enabling traders to deposit with confidence.
– The selection of educational tools available is exceptionally good.
– Many commentators feel that their Forex fees are highly competitive.

Drawbacks

– Bank account withdrawals attract a relatively high fee.
– Some of the charges for larger trades can be confusing.

Trading Hours

The actual site is open 24/7/365. That said, not all markets are open all the time! This means that trading is limited to those hours when the markets under consideration are open.

For example, the Forex market in London is from 3am to 12 noon; New York is 9am to 5pm; Sydney is 5pm to 2am, and the Tokyo market is open from 7pm to 4am (all times are GMT).

Company Details

FXTM (also known as Forextime) was set up in 2020, and was originally constituted and regulated in Cyprus by the Cypriot Securities and Exchange Commission. As well as offices in Cyprus, the company has had a UK presence since 2020.

Currently, with offices in London, FXTM is also licensed and regulated by the UK’s Financial Conduct Authority (FCA). It is also licensed in South Africa and regulated by the FSC of the Republic of Mauritius. The company is well-known and considered by many commentators to be a leading player in the Forex trading field.

This is in part due to its longevity, but also due to its FCA and CYSEC registrations, both of which are considered to be some of the toughest and most rigorous in the world.

The company provides an attractive trading environment for both novice and more experienced traders. That said, there is potential for traders who tend to regularly utilise large trades to pay additional charges which aren’t levied on other platforms.

Contact Details / Customer Support

European operating hours are from 8am to 8pm. During this time, customers can get in touch with the customer care team by phone, email, post or via a number of different online chat options (Whatsapp; live chat; Viber; Telegram; or Messenger). Customers can also request a callback.

The European phone number for FXTM is: 020 3514 1251.

The email address is: [email protected]

Safety And Security

  • The site uses Encryption software to ensure users privacy and security
  • Protection of client’s funds in segregated accounts in top tier banks
  • Registration of various clients in Investor compensation fund

The suite of IT security measures, coupled with the customer protections necessary for FCA compliance, ensure that traders who use FXTM are well-protected against theft of funds or data.

Overall Verdict

An established trading platform and broker, FXTM offers a number of significant advantages over many competitors.

Crucially, it is regulated by the FCA. This not only provides UK customers with plenty of protection, it also shows that the company is one that is run in a transparent and accountable manner.

The site places a heavy emphasis on education and customer care – this is a site that takes its responsibilities to its customers seriously. It’s also a site that has a good range of trading platforms and accounts – no matter what type of trader you are, there’s an account which is suitable for your needs.

Fees are, on average, in the low to medium range. The range of options by which traders can get in touch with customer support is outstanding.

The loyalty programme is also an advantage, as a direct discount is applied to every trade, bringing a fast reward. That said, the higher levels do require a substantial amount of investment in order to qualify, meaning it’s unlikely that rookie traders or those without considerable assets are going to enjoy much of a loyalty reward.

With so many benefits, it’s little wonder that this is a popular, well-established site which has stood the test of time.

Accepted Countries

FXTM accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use FXTM from United States, Canada, Japan, Mauritius, Puerto Rico, Korea, Haiti, Suriname.

IBKR Trading Platforms

Optimize your trading speed and efficiency with our powerful suite of trading platforms. Discover which platform is the right one for you.

Client Portal

Your one-stop destination to check quotes and place trades, see account balances, P&L and key performance metrics, funding, reporting, and more. Click “Ask IBot” to get quotes, place orders, find information and much more. IBot supports both text and speech entry.

Typically used by:
New clients; advisor clients who want a clear, understandable, real-time view of their accounts; traders and investors who prefer all-inclusive, easy-to-navigate convenience with 24/7 access.

Desktop TWS

Our flagship platform designed for active traders and investors who trade multiple products and require power and flexibility, TWS includes all of our most advanced algos and trading tools, and offers a library of tool- and asset-based trading layouts for total customization.

Typically used by:
Traders and investors who want to take advantage of the full IBKR offering, especially high-volume, global traders and those who require in-depth news, technical research and risk analysis tools

IBKR Mobile

Easily trade and monitor your IBKR account on-the-go from your iOS or Android device (tablet or smartphone).

Typically used by:
On-the-go traders and investors who like to keep an eye on their account 24/7

Find the information you need. Place orders using your own words and phrasing. IBot understands natural-language text commands, and provides immediate results without the need for special syntax or financial jargon. Available on TWS for Desktop, IBKR Mobile, and Client Portal and through our web site search and IBot-powered FAQ browser.

Typically used by:
New clients, traders on the go, experienced desktop traders who prefer a text interface

IBKR WebTrader — IBKR Pro Only

Our web-based trading platform offers similar functionality as the desktop with a simpler interface, and works behind a firewall.

Typically used by:
Traders and investors who prefer a simplified interface, or who are behind a firewall

IBKR APIs — IBKR Pro Only

From our easy-to-use Excel API to our industrial strength FIX API, we offer something no matter your experience level. Our TWS API is well-supported with numerous examples that make it easy to get started.

Typically used by:
Traders and investors who want to write their own trading software or automated trading programs; third-party software users

QuickTrade

Access your IBKR account quickly from within Account Management to place a simple order or check your account balance.

Typically used by:
Occasional traders

Supported Products

Our clients from over 200 countries invest globally in stocks, options, futures, Forex, bonds, and funds from a single integrated account.

Our trading platforms offer a wide range of product centered tools like the OptionTrader and Probability Lab for simplified single and complex multi-leg option trading; FXTrader for forex trading; Mutual Fund/ETF Replicator to help you easily find lower cost ETF alternatives to popular mutual funds; our fixed income screeners for corporate, municipal and agency bonds and CDs – and more.

We give clients the tools they need to trade whatever financial products they choose to help them meet their trading and investing goals.

Client Portal Desktop Mobile Web IBot IBKR API
Stocks
Options (Incl. Futures Options)
Futures
Forex
Warrants
Combinations
Bonds
Mutual Funds
Structured Products
Physical Metals
Inter-Commodity Spreads

Trading Features

We believe that less is more when it comes to our trading costs, but not our trading tools. We continually strive to offer our clients more of what they need to enhance their trading experience.

Looking for a highly-tailored, customizable investment strategy? Our Portfolio Builder walks you through the process of creating investment strategies based on fundamental data and top-tier research that you can back test, adjust and use to invest. Traders who are trading large orders have access to over 30 algos, including our own Accumulate/Distribute algo which has customizable logic to help you fill large-volume orders while adjusting to market conditions based on your criteria.

See the total picture before you buy or sell using our what-if portfolio scenarios. Our professional-caliber IB Risk Navigator SM reveals exposure across asset classes and around the globe, helping you to monitor and adjust your positions as needed.

Client Portal Desktop Mobile Web IBot IBKR API
Display Positions and PnL
IB SMART Routing
Simple Orders
Advanced Orders and Algos
Conditional Orders
Paper Trading
Customizable Workspace
Mutual Fund/ETF Replicator
Stock Borrow/Loan
Advanced Portfolio Management Tools
Risk Navigator SM
Backtesting

Advanced Analysis

Our trading platforms offer features to meet the needs of both the occasional investor and the serious, active trader.

Whether you need to simply monitor your account, or want to perform in-depth analysis to create a highly tailored trading strategy using our proprietary algos and API, our platforms provide the features you need to help you meet your trading and investing goals, however basic or complex they may be.

IBKR clients enjoy both the power and simplicity of our feature-rich platforms.

Client Portal Desktop Mobile Web IBot IBKR API
Live/Delayed Market Data
Historical Market Data
Level II Market Data
Charting
Advanced Technical Analysis
Scanners
Advanced Fixed Income Scanner
Streaming News Services
IBKR Market Signals
Third-Party Research
Streaming Bloomberg TV
Dividend Schedules
Alerts
Options Analysis
Download the PDF brochure of this page:

This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

Any trading symbols displayed are for illustrative purposes only and are not intended to portray recommendations.

Some products may not be available in certain jurisdictions. Please see ibkr.com/products for more information.

Access to IB SmartRouting SM for US listed securities is generally available only to IBKR Pro accounts.

Which Plan is Best for You?

US Exchange-Listed Stocks / ETFs

Other Stocks / ETFs

Interest Paid on Idle Cash Balances 3

Interest Charged for Margin Loan

Retail Investors 5

Institutional Accounts 6

Introducing Brokers 9,10,11

Stock Yield Enhancement Program

FDIC Promontory Program

Market Data – US Listed Stock/ETFs

Market Data – Other Products

Outside Regular Trading Hours 12

Trader Workstation (TWS)

IBKR Web Trader

Condition Orders &
Advanced Order Types

Mutual Fund / ETF Replicator

Risk Navigator SM

  1. IBKR Lite is meant for retail investors, including financial advisors trading on behalf of their retail clients. IBKR reserves the right to reject any IBKR Lite order or series of orders if IBKR determines the order(s) appear to show non-retail trading behavior. At the time an order is rejected, the client will be automatically presented the option to resubmit the rejected order on a Fixed commission basis.
  2. Where available in North America.
  3. Accounts with a NAV of less than USD 100,000 (or equivalent) will be paid at a rate proportional to accounts with a NAV of USD 100,000 (or equivalent) or more. The proportion is determined by the ratio of the account’s NAV to USD 100,000 (or equivalent). This does not apply to currencies with negative interest rates, where the negative rate applied will be the same regardless of account size. See ibkr.com/interest for details.
  4. For more information, see ibkr.com/interest
  5. Retail Investors includes individuals, joint, UGMA/UTMA, retirement and trust accounts.
    1. Standalone trust accounts with legal entity trustees are not eligible for IBKR Lite
  6. Institutional Accounts are defined as any hedge funds, proprietary trading group or organizational type accounts
  7. Advisors include all registered financial advisors, non-registered financial advisors, and Friends and Family advisors.
  8. To be eligible for IBKR Lite , advisors must be US domiciled and must have:
    1. Less than 15% of client accounts outside the US
    2. Less than 15% of client equity outside the US
    3. Less than 15% of client accounts as organization accounts
    4. No client accounts from Israel
    5. No partitioned client accounts
    6. No Separate Trading Limits (Proprietary Trading) accounts
  9. Introducing Brokers includes all Fully Disclosed and Non Disclosed accounts.
  10. Introducing Brokers require special approval from IBKR before opening an IBKR Lite account. Introducing Brokers cannot have both IBKR Lite and IBKR Pro clients under the same account structure. Separate accounts structures are required to facilitate.
  11. Introducing Brokers on the IBKR Lite plan cannot support the follow ing type of client sub accounts:
    1. Israel is the country of legal residence of the account holder
    2. Partitioned client accounts
    3. Three-tier hierarchies (no advisor or STL proprietary trading accounts)
    4. OMS clients
  12. Regular trading hours for IBKR Lite and IBKR Pro are 09:30 – 16:00
  13. OnClose or OnOpen US listed stock orders are free for IBKR Lite clients so long as the order does not exceed 10% of an account’s monthly US stock trading volume, otherwise your account will be charged USD 0.005 per share.
  • * Excludes pink sheet data.
  • **Trader Workstation (TWS) is not available to IBKR Lite Broker Clients.
  • † Fees may apply.

We understand your investment needs change over time. You can switch between the IBKR Lite and IBKR Pro plan at any time. Your first three reclassifications are processed on a daily basis while subsequent reclassifications happen on a quarterly basis.

Interactive Brokers ®, IB SM , InteractiveBrokers.com ®, Interactive Analytics ®, IB Options Analytics SM , IB SmartRouting SM , PortfolioAnalyst ®, IB Trader Workstation SM and One World, One Account SM are service marks and/or trademarks of Interactive Brokers LLC. Supporting documentation for any claims and statistical information will be provided upon request. Any trading symbols displayed are for illustrative purposes only and are not intended to portray recommendations.

The risk of loss in online trading of stocks, options, futures, forex, foreign equities, and fixed Income can be substantial.

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Commissions:
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Fixed Pricing Fixed or Tiered Pricing
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