FTM Brokers

FTM Brokersas stated on the website, relies on high-quality support and security of the client’s investments. The conditions of the forex broker are as transparent as possible, and it is possible to start trading with minimal margin requirements.

But is the broker as good as it seems at first glance? Or is there a reason to consider FTM Brokers a scam? Let’s find out.

 

 

Terms of trading with FTM Brokers

The broker’s website offers trading in financial pairs, precious metals, oil, stock indices and securities (stocks). A total of 100+ instruments. The execution of transactions is market-based (Market Execution). Trading model – STP. Leverage up to 1:200 is provided – the ratio is adjusted taking into account the client’s account balance and the asset type (group 1 – forex, precious metals, oil, indices, group 2 – securities). Volume of one transaction – up to 100 lots, depending on the asset. The lot price is up to 100,000 conventional units. Minimum deal increment – 0.01 pt. Trading is done from Monday to Friday between 00:05 and 24:00 Eastern European Time (EET).

 

FTP Brokers opens 3 types of trading accounts for its clients (opened in American dollars):

• FTM.COMFORT With a fixed spread of 2 pips (exception: securities), leverage up to 1:200, stop-out 30% and minimum margin collateral (deposit) of 0 USD.
• FTM.STANDARD with a floating spread from 0.9 pt, 40% stop-out and a minimum margin of 200 USD.
• FTM.PRO with a market spread of 0 pt, a 50% stop-out and a minimum margin guarantee of 1000 USD.

 

We did not find any information on investments in PAMMs on the ftm.by website. As for automatic trading, it is not prohibited and is carried out within the available functionality of the trading terminal. The broker is serious about training traders and offers different formats (webinars, video lessons, online academy, knowledge base, investment ideas, courses, individual programs), taking into account the professional level and the peculiarities of information perception. You can register a free demo account and use the training version of the MetaTrader 4 terminal to practice and assess your capabilities.

There is also access to analytical materials such as investment ideas, yield maps, technical analysis, forecasts and an economic calendar.

 

Support is provided by phone (Belarusian numbers), e-mail, via the feedback form or online consultant on the site, chat-bot Telegram and communities in the social networks Facebook, Odnoklassniki, VKontakte, Twitter. The service is available from 09:00 to 18:00 Moscow time on weekdays.

 

MTF Brokers platform

FTM Brokers works with the only and most popular platform among traders – Meta Trader 4 (MT4). Its advantages include:

• All basic assets and chart types (bars, candlesticks, lines and their modifications).
• 30-plus technical indicators and 24 analytics objects (lines, channels, Gann, Elliott tools, etc.) plus the ability to create your own and upload third-party ones.
• 9 standard timeframes (M1, M5, M15, M30, H1, H4, D1, W1, MN).
• 1-click” operations directly on the chart.
• Multi-platform (there are online and downloadable versions for PC, mobile and smartphone applications with a single account).
• Excellent performance that few platforms can match.
• Supports interactive options (such as scrolling, zooming, color schemes) and customization of notifications, signals.
• Automatic trade.
• Online chat with traders and communication with the consultant, knowledge base and instructions.
• Availability of a free training terminal.

Broker quotes

The broker does not name its liquidity providers. On the official website ftm.by Quotes of the 40 or so currency pairs are presented: AUD/CAD, AUD/JPY, AUD/CHF, AUD/NZD, AUD/USD, CAD/CHF, CAD/JPY, CHF/JPY, EUR/AUD, CHF/JPY, EUR/CAD, EUR/CHF, EUR/GBP, EUR/NZD, EUR/PLN, EUR/SEK, EUR/TRY, EUR/USD, GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/NZD, GBP/USD, NZD/CAD, NZD/JPY, NZD/USD, USD/CAD, USD/CHF, USD/JPY, USD/MXN, USD/PLN, USD/SEK, USD/TRY, USD/ZAR, EUR/HKD, EUR/MXN, EUR/SGD, EUR/ZAR, GBP/MXN, GBP/SEK, GBP/SGD, GBP/ZAR, NZD/CHF, USD/CNH, USD/HKD, USD/ILS, USD/SGD. In the open services, which compare rates of different brokers, FTM Brokers is absent, so it is surely not possible to assess the accuracy of the provided data. It remains to be guided by the reviews.

 

Demo account ftm.by

To open a training account (demo account) on the website ftm.by is first required to register. To do this, click on the button “Demo” and in the form that opens – “Registration”. Enter the page with the questionnaire, where you specify your name, e-mail address, country of residence, phone number and configure the account: real/demo, account type (for trading) – Comfort, Standard or Pro, currency, platform. The last two points did not seem clear to us, because there is no choice (only USD and MetaTrader 4). We accept the terms of the company policies.

 

Confirm the e-mail and phone number by entering the verification codes sent by the system. We go to a personal cabinet, where we have already created a demo account with a balance of $50,000 (conditional units, “funnies”, which have no real money equivalent). It remains to download/open the terminal MT4 and enter a login (identifier) and password. There is no time limit for the training trade, but after “plummeting” all c.u., you will have to open another account.

 

Mobile application

The broker does not have its own mobile application – it uses the software MetaTrader 4, which can be downloaded from Google Play Market and App Store. Its functionality does not differ from the desktop, the login and password from the personal account on the website are used to log in to the account. Mobile supports devices on Android OS at least 5.0 and iOS version 9.0 and later.

 

 

Bonuses at FTM Brokers

FTM Brokers has developed a surprisingly diverse bonus program. It includes cashback for deposits, zero trading commissions and other rewards for active users. Let’s look into it in a little more detail.

Spread refund

With each thousand dollars of the deposit (margin requirement) traders – new and existing clients – receive 50 USD cashback (refundable funds). At the same time it is necessary to perform a turnover on closing trades, so the gift is not “burned out”:

• With a deposit of $500 (cashback $25) – 1 lot.
• If you deposit from $1000 (cashback $50) – 2 lots.
• With a deposit of $2000 (cashback $100) – 4 lots.
• With a deposit of $3000 (cashback $150) – 6 lots.
• With a deposit of $4000 (cashback $200) – 8 lots.
• If you deposit from $5000 (cashback $250) – 10 lots.

 

Free training for beginners

New site users ftm.by receive as a gift: 20 video lessons on trading different assets, 3 ready-made trading strategies, free practice on a demo account (but we have already told you about this), several individual lessons with an expert and a subscription to a Telegram-channel with investment ideas.

 

Affiliate Program

FTM Brokers affiliate program is an opportunity for owners of websites, blogs and other public resources to earn money by attracting new traders to the broker’s website. After registration in the program you receive advertising materials with unique links (automatically generated for each partner and containing his identification data), which are placed in order to attract attention of the user. Each person who clicks on them is considered to be a subscriber of the partner (except for those who are already registered on ftm.by). From 1 lot of their trades a partner is awarded 10 USD. Also in referral program trader can get reward for 1 closed lot: $10 USD for COMFORT type account, 5 USD for STANDARD type account, 2 USD for PRO type account.

 

 

Deposit and withdrawal

Deposits to an account opened with FTM Brokers are made with conversion to U.S. dollars in the following ways:

• Bank cards of VISA, MasterCard, BELCART systems (through Webpay system with commission from 1.5%, but not less than 0.33 USD; for VISA holders costs zero). Crediting is instant.
• Bank transfers with the fee of the issuer. Crediting within 1-3 business days.
• Electronic payment system ERIP with zero commission. Instant crediting.
• Mobile payment with the operator’s commission. Crediting is also instant.
• Wallets QIWI, WebMoney with the commission of the payment system. The funds will be received within seconds.

As for the withdrawal, only banking is available, and the processing fee is set taking into account the payment agent: CJSC “Alfa Bank”For Belarus banks – 0.1% (within 1.5-6 USD) for internal transfers and 0.15% (within 25-150 USD) for international transfers. To receive a payout, you will need to make an application in advance and possibly provide a scan of your account statement or agreement with the bank as proof that the bank account you applied for belongs to you.

 

 

Complaints against MTF Brokers

There are very few reviews about FTM Brokers (of course, the ones published on the broker’s website are not taken into account). However, most of them are either neutral or not very informative. It is not an actual experience, but an assessment based on a general impression.

And yet there are several moderated comments. Their authors say that the conditions of the company are often misleading (e.g., the conditions of deposit/withdrawal fees).

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Broker regulator

The legal entity that owns the trademark FTM Brokers is the company of the same name – FTM Brokers LLC, with its head office located in Minsk. The legal entity is registered in the register of forex companies of the National Bank of the Republic of Belarus (NBRB), regulating the activities of non-credit financial institutions (certificate number 4 from 12.05.2016). In Russia, it is entered in the Unified State Register of Legal Entities (USRLE) and registered with the Federal Tax Service.

Check the license of “MTF Brokers” LLC in the registry of forex companies NBRB

User Agreement ftm.by

Its role in relation to this broker is performed by the “Rules of transactions with non-deliverable OTC financial instruments”. Let’s consider several provisions. So, in clause 3.3 the list of verification requirements necessary to maintain the active status of the account is voiced. Physical persons must present an identity card, personal information (full name, date of birth, e-mail, address of residence and registration, telephone number and other information prescribed in the Personal Account) at the first request. Legal entities – proof of authority of officials.

All payments are converted into the main currency of the account – the American dollar – at the company’s internal exchange rate. The broker may increase the fixed spread without prior notice if the average volatility level of the underlying asset has increased, there is low liquidity, unexpected economic/political events or force majeure occurred (clause 5.2.3).

The quotes put out by FTM Brokers are recognized as non-market quotes for the following reasons:

• The presence of a price gap.
• Abrupt return of the price to the initial level with the formation of the price gap.
• Lack of rapid price dynamics before the appearance of a quote.
• Lack of macroeconomic events, corporate news and other changes affecting the market at the time of quotation.

Your transactions may be forcibly closed/cancelled if the operation was executed at a time of technical failure, at a non-market quote, due to force majeure or its financial result does not correspond to the result of overlapping liquidity providers broker – that is, the latter was in deficit (clause 8.4).

 

Is FTM Brokers a scam?

FTM Brokers – is a broker officially registered in Belarus with a full set of documentation. The company is also registered in Russia, which is confirmed by the extract from the Unified State Register of Legal Entities published on the website. The trading conditions here are transparent. Practically everything is spelled out (spreads, margin requirements, swaps, quotation steps, transaction limits, etc.), only liquidity providers are missing.

If we talk about the reviews (which, by the way, are few), the picture is not so rosy: users complain about the discrepancy between the trading conditions announced on the site and the real ones. This is especially true for deposit and withdrawal fees. We have not found any other serious complaints – such as refusal to withdraw funds or “tampering” with quotes. So it is very doubtful that FTM Brokers is a scam.

 

Conclusion

FTM Brokers offers a small, but clearly laid out and adjusted set of tools and options. The broker works with one, but reliable terminal – MT4. And to help traders it offers a training program structured for different levels of training and ways of perception and free analytics. And in addition – all sorts of bonuses and affiliate program with rewards for attracted to the site new users.

There are also unpleasant things, such as complaints in the network (about them we described above) and the lack of opportunities to open accounts in currencies other than dollars (which makes it necessary to convert with a commission).