Thursday, 9 August 2018

Forex: Why FXTM Is Horrible


Here is my FXTM forex review.
This might not meet your expected comprehensive review but I will give an insight into the vital area where FXTM socks.

I once wrote about the forex training seminar I attended this year organized by RallyTrade. I had been trading cryptocurrency which was quite enjoyable therefore I attended the aforementioned seminar to broaden my knowledge.

After the seminar, I felt I needed to try out forex (either to trade on InstaForex, FXTM, RallyTrade). The minimum trading deposit for RallyTrade was too risky for my beginner attempt which left me with two choice (InstaForex or FXTM). I decided to ignore InstaForex because they have too many confusing website domain name which makes one wonder which of the websites truly represents the company.

I finally chose FXTM among the three trading platforms; unfortunately, my experience with FXTM was ugly. Before I fully share such experience, I actually counted the experience as a chicken wind_ after all $10 is nothing to worry about but for more than 7 days now, I kept receiving this crappy email from FXTM:-

"The FXTM raffle?

FXTM’s thrilling Wheel of Fortune raffle contest is in full swing! Start trading today for your own chance to win one of our amazing monthly or Grand Finale prizes.

Here’s how it works:
1. Register with FXTM.
2. Read and accept the terms and conditions.
3. Deposit $500 to receive two raffle tickets – one for the monthly prize and one for the Grand Finale.
4. Trade 5 lots to activate your tickets.*
5. Make new deposits of $500 to unlock another set of two tickets and increase your chances!
6. Watch out for our surprise bonus periods! A $1000 deposit earns you double the tickets – for a short time only.

What you can win:
1. Monthly prize: a state-of-the-art iPhone X goes to our lucky monthly winner.
2. Grand Finale prizes: our fifth, fourth and third-place winners will each walk away with a high-tech Apple Watch! Second place will receive an iPhone X and first-place will win a brand-new, Tesla X or equivalent!"

I was like "so FXTM thinks they're so good with unnecessary hpye? I sure need to share my own experience with my fervent blog readers".


If you are familiar with google search or any website using google adsense, then you must have come across FXTM many tireless times. It is one of those google ads that haunts us everywhere we go on internet.

The fact about every trading platform is that they all want to bite from your investment_ whether you gain or loss. You deposit money, they take deposit fee. You withdraw money, they take withdrawal fee. No offense, that is called business_ a motivation for any trader to trade wise.

Here is where I'm not quite please with the operations of FXTM. They are so lagging in the area of customer care and customer orientation; there responses are very poor. Not only that, client configuration of their website is very clumsy and misleading.

I logged into the website with my membership access to make deposit and start trading. My intention was to try out on a token of $10. My dashboard had 20+ payment option so I decided to perform an ATM transfer to a Zenith Bank account option. 3 days later, I tried to reach out to my so-called FXTM account manager because my trading account remained not funded.

The manager maintained that in order to fund my trading account, I needed to scan and mail my bank transaction details (what a pathetic instruction). Took the pain to extract the comprehensive details from my banker and sent yet the dude kept telling the scanned information wasn't clear enough to verify my payment.

FXTM needs to work and improve their payment and withdrawal system and stop operating like bunch of tricksters. Imagine I deposited $100 or $1000, they would have also drained my motivation with foolish stories that lacked business integrity.

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