FXTB is a broker in Cyprus that has been working since 2015 and is regulated by the Cyprus Securities and Exchange Commission. It meets the high standards of operation and provides popular platforms with good execution. This is a broker from which beginners in trading can benefit from it as it has a wide offering to its clients.
All the clients’ funds are kept in segregated accounts, and the broker gives assurances for the safety of these funds. As a member of the Investor Compensation Fund, there is better security provided by FXTB. There are built-in alerts and charts to allow more effective trading for its clients.
Leverage is provided by the broker. It allows you to trade with bigger exposure and usually is in the form of ratios. FXTB does its best to support all traders and offers leverage as high as 1:400 for professional traders. However, this can only be accessed once your status is proved. For retail traders, the maximum leverage is 1:30 for major currency pairs and 1:10 for commodities.
Types of accounts
FXTB offers 4 types of accounts suitable for traders of different levels, and with different conditions. The four types are Basic, Gold, Platinum, and VIP, each for a trader of a higher level. These accounts have of the same trading conditions and services, but their withdrawal fees and spreads differ.
This broker offers over 300 trading assets for a more free choice. Here, you can trade CFDs on Forex assets like EUR/USD, GBP/USD, or even trade CFDs on other commodities like gold, crude oil, and more. To add to that, you can also trade CFDs on stocks of tycoon corporations like Apple and Facebook.
The fees offered by a broker can have a strong impact on traders. At FXTB, the prices vary depending on the account you use, along with the trading size. Here, there is no deposit or withdrawal fee, but an inactivity fee is applicable if there is no activity on your account for at least one month or more.
Deposit and withdrawal
Depositing with FXTB is a very simple process. Simply log in and click the deposit button. After that, you can choose to deposit with your credit card, wire transfer, or electronic payment. The minimum deposit here is EUR 250 which will easily allow you to open a basics account, while higher positioning accounts require more money. Moreover, there is no deposit fee charged at all.
Making a withdrawal is yet another easy process. Just log in, click on the banking tab, then on the withdrawal tab. There is no withdrawal fee for users of the VIP account, but it may vary depending on the other accounts. Platinum account holders can freely make 3 withdrawals per month for free, gold account holders can make one free withdrawal per month, and basic account holders only get to make one free withdrawal in total, after which there are charges applied.
When trading on FXTB, you can choose which platform you want to trade on. You can choose WebTrader or MT4 and they both have their own advantages. On WebTrader, you can access the software without actually installing it on your PC. It is very convenient that you can access your account by simply logging into the browser version on any device. However, it may lack the range of customization options and tools.
The MT4 platform is different and is available for download on any device including PC and MAC, so you don’t have to worry about unavailability. This allows full customization and safety and there is no limit on the number of strategies you can use.
Clients at FXTB have access to educational material including webinars, guides, videos, and tips. There is additional material that can be found depending on your account like market updates, strategy newsletters and more. To add to that, there is also an asset calculation tool, which you can use to find spreads, fees, swaps etc.
Overall, FXTB is a flexible and well-regulated broker that provides the best options for its users. Higher account levels will get you tight spreads and the cheapest withdrawals along with free signals.