MetaTrader 4
MetaTrader 4 (MT4) is a popular trading platform for Forex and CFDs, offering advanced charting, automated trading via Expert Advisors, and fast, reliable execution.
Details
Editorial review
Broker Summary
What Wikilix has recorded about FTM BROKERS: its history, the licences it holds, its trading conditions and its fees.
Introduction
Regardless of your level of experience, selecting a trustworthy broker is advisable when trading foreign exchange, given the rapidly evolving nature of the forex market. In light of the increase in brokerage firms, FTM Brokers, a forex and CFD broker based in Belarus, has emerged, offering traders a wide range of trading instruments and sound trading conditions. Founded in 2016, FTM Brokers aims to create a trading environment where traders can access global markets while still meeting the requirements of a regulated trust broker.
Admittedly, the team is in an emerging but maturing phase of their business. Yet, they have undoubtedly positioned themselves as a reputable firm focused on transparency, regulation and providing a wide range of trading assets. We will discuss further details about them in this article, including their history, services, regulation, trading conditions, and the overall reputation of the trading firm, to help other investors form their own judgements.
Background And History
Founded in 2016 and based in Minsk, Belarus, FTM Brokers began under the name Forexline. Still, they ultimately changed to FTM Brokers to better reflect its business model and objectives, entering a brutal business landscape. FTM Brokers are offered under the legal trading name of FTM Brokers Limited Liability Company.
While the team at FTM Brokers are currently developing as a new brokerage firm in an increasingly competitive trading environment, they are reaping the benefits of a background relationship with their legacy or affiliated parent company, ForexLine, founded in 2002, to support and gain knowledge from as they build their client relationships and provide services to their clients.
Key Features and Offerings
Trading Instruments
FTM Broker offers more than 60 non-deliverable instruments for traders to trade. Across, the following are included:
• Forex currency pairs
• Stock indices
• Oil and other energy commodities
• Precious metals, including gold and silver
• Securities and CFDs
This variety allows traders to diversify their portfolios and take advantage of market opportunities.
Account Types and Trading Platform
Although specific information is restricted, FTM Brokers offers an FTM.STANDARD account with spreads starting at 0.09. The leverage is 1:200 across all account types, allowing traders to employ a variety of trading strategies.
For trading, FTM Brokers supports the widely recognized MetaTrader 4 (MT4) trading platform. MT4 is well known for its user-friendliness, advanced charting tools, and automated trading with Expert Advisors (EAs). There is also a demo account, so traders can practice using MT4 and get comfortable with it before placing live funds.
Regulatory Compliance and Licensing
Selecting a forex broker with regulatory oversight is very important, as it provides additional assurance of safety and transparency. FTM Brokers is regulated by the National Bank of the Republic of Belarus (NBRB) and has an active retail forex license.
Regulator | License Number | Status |
|---|---|---|
National Bank of the Republic of Belarus (NBRB) | 192620616 | Active Retail Forex License |
It should also be noted that FTM Brokers has regional restrictions and will not accept clients from countries such as China, Hong Kong, the United States, Iraq, Japan, the United Kingdom, and North Korea, among others, in accordance with regulatory mandates and risk management policies.
Trading Eligibility and Platform
Eligibility
Condition | Details |
|---|---|
Spreads | From 0.9 pips on FTM.STANDARD account |
Leverage | Up to 1:200 for all accounts |
Minimum Deposit | Not explicitly stated |
Commissions | Not specifically detailed; likely included in spreads |
Fees | No explicit mention beyond spreads |
Listing
FTM brokers exclusively offer the well-known MT4 trading platform, which forex traders widely use. The MT4 provides a plethora of charting tools, a variety of technical indicators, and automatic trading. FTM Brokers does not offer any proprietary platforms or tools; however, MT4 has mobile applications for active traders to monitor their trading accounts and manage their positions on the go.
Fees
The fee structure is an essential component of the client relationship, enabling transparency into trading costs. However, there are limited details on the FTM Brokers website about deposit and withdrawal fees, inactivity fees, commissions, etc. Clients should confirm the fee structure with FTM Brokers before opening an account.
Fee Type | Details |
|---|---|
Deposit Fees | Not specified |
Withdrawal Fees | Not specified |
Inactivity Fees | Not mentioned |
Other Charges | No detailed fee schedule available |
Personal Experience and Firm Reputation
Customer service is an essential aspect of any Brokerage, and FTM Brokers provides phone customer care with client contact numbers in Belarus. There is no mechanism for reviews or ratings, so it is challenging to gauge client satisfaction. On the positive side, FTM Brokers is regulated by the National Bank of Belarus, which adds credibility and confidence in using their services, given the bank's role as the underlying financial regulator.
This, along with the MT4 platform, offers a selection of instruments and reasonable leverage, which attracts regional traders in Belarus. On the contrary, however, a lack of transparency regarding fees, a lack of established minimum account deposits, or restrictions for specific countries may hinder some traders.
Recent News
In 2024, there will be no public announcements about FTM Brokers or any significant updates to their operations. In fact, the only activity by the firm is continuing to operate its business and its licenses under the National Bank of Belarus, without any mention of product offerings or changes to its license status. As a note, the FTM Broker has no relation to FTMO, a proprietary trading platform and firm with licenses in the Czech Republic. FTMO recently acquired OANDA, and it is key not to confuse the firms.
Conclusion
In conclusion, FTM Brokers is introduced as a regulated Belarusian forex broker with a relatively solid foundation and the intention to offer access to unlimited instruments on a very well-known trading interface (MT4). With regulatory backing of the National Bank of Belarus, a trader can have confidence in a properly regulated operation.
The trading conditions appear decent, with leverage up to 1:200 and a respectable spread starting at 0.9 pips. Due to limited fee transparency, merchants may need to conduct more research into minimum account deposits and other associated fees. Overall, FTM Brokers would be an attractive option for traders in Belarus and in nearby markets.
Website archive
Website snapshots
8 full-page captures of FTM BROKERS's own site, archived so what they said can still be read after the pages change.
8 pages
Regulation check
Regulatory Licenses
We have not confirmed any regulation for FTM BROKERS. Money deposited with an unregulated broker is protected only by the company itself.
No regulation
Trading with an unregulated broker puts your deposit at risk.
No regulation
We have not confirmed any regulation for FTM BROKERS. An unregulated broker is not supervised by a financial authority, and money you deposit is protected only by the company itself.
What this means for you
- No compensation scheme covers your funds.
- No regulator to escalate a complaint to.
- No audit of how client money is held.
Deposits & withdrawals
Funding Methods
6 ways to fund an account. 3 with no deposit fee. 3 credit instantly. The costliest way in is Bank Cards (Visa/MasterCard) at 1.5%.
6 methods
| Method | Deposit fee | Withdrawal fee | Min deposit | Withdrawal min / max | Processing |
|---|---|---|---|---|---|
Bank Wire TransferWire TransferWithdrawals to Belarusian banks in USD incur a commission of 0.1% (minimum $1.50, maximum $6) plus the receiving bank's commission. Processing takes 2-5 days. For non-resident banks, withdrawals support BYN, USD, EUR, and RUB with a minimum commission of $250 plus correspondent bank fees, processed in 2 working days. | Free | 0.1% | USD 20 | USD 1.5USD 6 | Up to 1 day |
Bank Cards (Visa/MasterCard)Credit CardWithdrawals support BYN, USD, EUR, and RUB currencies. Commissions apply on the payment system side (up to 3%), with processing taking 2 working days. | 1.5% | Not recorded | USD 20 | Not recordedNot recorded | Instant |
| Electronic Payment System (ERIP)E-Wallet | Free | Not recorded | USD 20 | Not recordedNot recorded | Instant |
| Mobile Phone PaymentsOtherCommissions apply on the payment system side. | Not recorded | Not recorded | BYN 20 | Not recordedNot recorded | Instant |
| Cash DepositsOtherDeposits accepted only at ASB Belarusbank branches. | Free | Not recorded | USD 20 | Not recordedNot recorded | Up to 1 day |
| WebMoneyE-Wallet | Not recorded | Not recorded | USD 20 | Not recordedNot recorded | Not recorded |
Trading software
Trading Platforms
One trading platform on record: MetaTrader 4.
1 platform
Peer comparison
Brokers worth comparing
2 other brokers on the record share what FTM BROKERS offers — its country, regulator, account types or platforms — set beside it on the same measures.
2 peers
FTM BROKERS
This recordBelarus · since 2016· FTM Brokers Limited Liability CompanyWikilix score 39.0RegulationNo RegulationMax leverage1:200Platforms1LicencesNot recordedBFB Capital
Belarus · since 2018· BFB Capital LLCWikilix score 40.0RegulationRegulatedNBRBMax leverage1:1500Platforms1Licences1Nature Forex
Belize · since 2011· NATURE FOREX LTD.Wikilix score 39.0RegulationOffshoreFSCMax leverage1:100Platforms1Licences1
Frequently Asked Questions
Frequently Asked Questions
Common questions about FTM BROKERS
Most Popular Questions
FTM Brokers offers customer support in English via live chat during business hours and email at info@ftm.by. They also provide phone support with numbers available for Belarusian clients and have a physical office address in Minsk, Belarus.
FTM Brokers offers a maximum leverage of up to 200, allowing traders to control larger positions relative to their account balance.
The minimum deposit amount required by FTM Brokers is 200 USD. This applies to their standard account offerings.
FTM Brokers supports deposits and withdrawals via bank wire transfer, bank cards (Visa/MasterCard), electronic payment systems like ERIP, mobile phone payments, cash deposits at ASB Belarusbank, and WebMoney. Deposit fees vary by method, with some methods charging no fees and others, like bank cards, charging a 1.5% deposit fee.
FTM Brokers provides access to the MetaTrader 4 trading platform, which supports desktop use and offers features such as advanced charting and automated trading through Expert Advisors.
FTM Brokers Limited Liability Company is regulated by the National Bank of the Republic of Belarus (NBRB) under a Retail Forex License. Client deposits are protected with a deposit guarantee covering up to BYN 100,000 per depositor according to NBRB regulations.
Comments
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