General Information
Fake FXTM is allegedly a Mauritius-based forex broker regulated by the Cyprus Securities and Exchange Commission that provides its clients with supreme trading platforms, up to 1:2000 leverage, variable spreads on various tradable assets, as well as a choice of seven different account types.
Market Instruments
Fake FXTM advertises that it mainly offers six different classes of trading instruments in financial markets, including forex, precious metals, stock CFDs, commodities, CFD indices and cryptocurrencies.
Account Types
There are seven different Standard and ECN trading accounts offered by Fake FXTM, apart from demo accounts, namely Cent, Standard, Stock CFDs, Stocks, ECN Zero, ECN and FXTM Pro. Opening a Cent account requires the minimum deposit of $/€/£ 10 /₦2,000, while the other six account types with the minimum initial capital requirements of $/€/£ 100, ₦40,000, $/€/£ 100, ₦40,000, $/€/£ 100, ₦200,000, $/€/£ 200, ₦80,000, $/€/£ 500, ₦80,000 and $/€/£ 25,000, ₦5,000,000 respectively.
Leverage
Traders holding different account types are equipped with different maximum leverage ratios. Clients on the Cent account can experience the fixed leverage from 1:1000, while the Standard or ECN Zero or ECN account can enjoy floating leverage from 1:2000, the Stock CFDs account with fixed leverage of 1:10 for US shares and 1:3 for European shares, the FXTM Pro account with floating leverage up to 1:200. Keep in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.
Spreads & Commissions
Spreads and commissions are significantly influenced by what type of accounts traders are holding. The spread in the Cent or ECN Zero account starts from 1.5 pips, the Standard account from 1.3 pips with 0 commission, the Stock CFDs from 0.1 pips, the Stocks account is tight, the ECN account from 0.1 pips with the commission of $2 per lot, and the FXTM Pro account from 0 pips.
Trading Platform Available
When it comes to trading platforms available,Fake FXTM gives traders three choices: MetaTrader4, MetaTrader5 on PC, Mac, mobile or tabletand FXTM Trader. MT4 is equipped with interactive charts, monitoring and analyzing the real-time markets, access to 30+ technical indicators and more. Compared to MT4, MT5 has more balance transaction types, analytical objects, unlimited number of charts, an integrated economic calendar and more. FXTM Trader is available on both iOS and Android devices, The broker claims that it offers open, close and modify positions on a wide range of forex and CFD instruments, user-friendly trading dashboard, state-of-the-art charting tools and etc.
Deposit & Withdrawal
There are a wide selection of payment methods provided by Fake FXTM. It accepts deposit via VISA, Skrill, VISA, MASTER and more, and withdrawal with MASTER, PerfectMoney, Skrill, VISA and etc. More specific information about the fees or processing time can be found on this brokers official website.
Customer Support
Fake FXTM‘s customer support can be reached through live chat. Besides, you can also follow this broker on some popular social media platforms such as Facebook, Twitter, LinkedIn, Instagram, YouTube and Telegram. Company address: Exinity Limited, 5th Floor, 355 NEX Tower, Rue du Savoir, Cybercity, Ebene 72201, Mauritius. However, this broker doesn’t disclose other more direct contact information like telephone number or email while most brokers offer.
