4th day Live in FXTM - 2/5

[pipdmt]

Short Version:

Pro:
1. Strategy manager system
2. I am from Malaysia. Compared to many other brokers, FXTM does offer easier deposit, and I hope easier withdrawal in future.

Cons:
1. Very inattentive customer service.
2. MASSIVE spread
3. In fact con#1 makes me post my review for the first time in FPA as I find it very hard to get their reply.
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I have been trading with another broker for a few years, I can recall only 1 significant issue through these years, in which they fixed within half an hour. Have I not tried FXTM now, I would not know why my other broker is the leading broker in the industry.

What catches my attention is the copy trade system from FXTM and I would like to try it out as strategy manager. But all these issue that I faced highly discouraged me to proceed further, luckily I am yet to get my clients to deposit money in FXTM. (I manages small fund, but considered to explore strategy manager system in FXTM)

1. The response even through live chat is very slow. Whereby most answers are just standard copy paste reply. It makes me feel like it is very hard to get even just some quick and simple answer from FXTM.

2. I have sent a few email to FXTM support, but still no reply after quite a while:
Ticket# 2018112610006909, 2018112610006909

3. My mistake for not checked throughout their trading conditions before going live, but the spreads are MASSIVE, up to almost 6 pips in some cross pair eg: EURAUD,(compared to my other broker 1.7-1.9 pip) it is not even exotic pair. Heck I can even try to create synthetic pair and have lesser spread. EURUSD spread is quite high too, 2 pip - 2.2 pip. This makes FXTM basically not suitable for scalping at all. All these bonus and promotion does not make up for the fee I paid in spreads. I might check the ECN account to see if things could be better, highly doubt so.

4. I am afraid that my clients will get huge slippage from copying my trades, only 1 way to find out, but how can I be comfortable to recommend my friends and clients to FXTM with these performance? I am still a bit hopeful as I like the strategy manager system, and I hope this is just a lapse in FXTM service.

[ForexTime]

On 4/14/2020 at 9:25 AM, pipdmt said:

My mistake for not checked throughout their trading conditions before going live, but the spreads are MASSIVE, up to almost 6 pips in some cross pair eg: EURAUD,(compared to my other broker 1.7-1.9 pip) it is not even exotic pair.

Hello! FXTM offers various live accounts that have different spreads. Moreover spreads on all our instruments are floating and not fixed, so they may change as they reflect the market conditions. For example, the typical spread on FXTM ECN for EURAUD is 3.2 pips.

On 4/14/2020 at 9:25 AM, pipdmt said:

In fact con#1 makes me post my review for the first time in FPA as I find it very hard to get their reply.

Kindly send us an email to social@fxtm.com with all the information regarding this situation. We will be glad to investigate this case and provide you with a detailed answer.

[Vaabum]

And how does such a strategy make a profit?

[FXOpen Trader]

On 10/4/2022 at 1:34 PM, Vaabum said:

And how does such a strategy make a profit?

We will need to develop Best trading based systems.