FTMBROKERS

About company:

FTM Brokers is a Belarusian Forex broker that has been operating since 2004 as a Forexline. In 2016, the broker received a Forex license from the country's central bank, which also acts as the Forex regulator.

 

Company. Fund security

The regulatory requirements for Forex brokers in Belarus came into force in 2016: companies must be entered in the register of the National Bank and meet certain requirements, including the amount of capital available and membership in the compensation scheme of the National Forex Center.

 

The Forex industry in Belarus is dominated by local companies and brokers, mainly focused on the Russian market, such as Alpari, TeleTrade, Forex Club and Gerchik & Co. This seems logical since the regulatory requirements in the two countries are more or less similar, as well as the common Russian language. The big global Forex brokers seem to show no interest in Belarus.

 

Considering that FTM Brokers is likely targeting the Belarusian market, it has relatively little competition and may not afford to offer the most lucrative terms.

 

Terms of trade

FTM Brokers offers Forex CFD trading on three types of trading accounts: Basic, Standard and Pro. There is also a free demo account.

 

The broker also offers trading in other instruments: commodities, indices, stocks and ETFs. According to the information on the website, the total number of assets is 1500.

 

Minimum initial deposit

The smallest amount that a broker allows to start work is $ 20, which is quite acceptable.

 

Of course, there are brokers with even lower requirements, for example InstaForex (from $ 1).

 

Spreads and commissions

FTM Brokers has fixed, market and floating spreads depending on the type of trading account. Fixed spreads are offered averages for the industry (from 2 pips). The practice of providing floating spreads along with additional commissions to cover costs is fairly common.

 

Leverage

FTM Brokers has the highest leverage utilization ratio - 1: 100, which is below average, and for RUB pairs - even lower: 1:50.

 

Trading platforms

FTM Brokers offers the popular MetaTrader 4 platform in both desktop and mobile versions.

 

Another platform that FTM Brokers provides is xStation.

 

The xStation platform was voted “Best Trading Platform 2016” by the Online Personal Wealth Awards and offers fast execution speed, technical analysis and charting tools, and many other options. In addition to the desktop version, FTM Brokers also offers a mobile version and access to the xStore, an API that allows users to create their own applications.

 

Promotions

Clients can receive bonus points for completed transactions, for which various prizes are offered. Transactions must be made in the following instruments: currencies, indices, futures, metals. It is easy to become a member: open a real account, familiarize yourself with the rules of the loyalty program and accept the conditions.

 

At the time of writing this review, the prize is the Bosch kitchen faucet. There are also smartwatches, game consoles, TVs, computers, laptops, smartphones, bicycles, and tablets.

 

Support service

The main office is located in Minsk. The support service has three phone numbers available at once, e-mail and skype. However, no feedback form or live chat is offered.

 

additional services

Traders will find an important stream of financial information on the broker's website in the form of news, technical analysis, economic calendar, and can also take advantage of investment ideas.

 

For those who are just learning to trade, the "Training" section will be useful. FTM Brkers specialists have developed online lessons and face-to-face trading courses of several difficulty levels. For beginners - materials that provide key knowledge and skills of working in the financial markets. For experienced traders - specialized programs for the analysis and forecasting of the state of financial markets, as well as for the psychology of trading and the construction of successful investment systems.

 

Ways of payment

FTM Brokers accepts payments via bank transfers and bank cards. The latter, however, is only available to holders of cards issued by Belarusian banks. The company does not accept deposits through electronic payment systems such as Skrill or PayPal.

 

For payments using a bank card, the broker charges a commission of 1.5% of the payment amount.

 

Pros:

 

low minimum deposit; MT4; selection of trading accounts.

 

Minuses:

 

low shoulder.