Do not invest more money than you can afford to lose.
Cyprus-regulated forex broker FXTM announced it has updated its deposit reimbursement policy effective from November 1, 2016.
Under the updated rules, the broker will fully reimburse for any charges their clients with deposits of up to 1000 USD/EUR/GBP. For deposits that exceed this sum, FXTM will reimburse 50% of any charges.
The broker notes that reimbursement fees are based on the rates on the day of processing and reserves the right to not reimburse deposits and to deduct any fees in cases of no trading activity or any form of abuse.
Overall, FXTM does not charge any fees for depositing funds and charges different sums depending on the withdrawal method. For withdrawal with Visa, MasterCard and Maestro cards, FXTM charges 2 EUR/ 3 USD/ 2 GBP. Withdrawal via electronic wallets can garner fees ranging from 0.8% to 3.9% of the sum, while bank transfers are usually for a fixed fee of anywhere between USD10-50. Some bank transfers fees are also based on percentage of the sum.
FXTM is based in Cyprus and regulated by the local watchdog, the Cyprus Securities and Exchange Commission (CySEC). The broker offers trading in more than 100 instruments, including forex, spot metals, and CFDs on stocks, commodities, and exchange traded fund (ETFs). It serves retail and institutional clients alike and supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.
