Forex Time, or FXTM
, the Cyprus-based FX broker that only recently marked its first anniversary is continuing to enrich its service offering and has just launched commission-free ECN Zero accounts.
You are perhaps aware that commissions are among the disadvantages of ECN accounts, as these mark-ups are source of income for the brokers. But FXTM has eliminated this disadvantage by extending the ECN accounts without the need for the trader to pay any commissions whatsoever on the ECN Zero accounts. For comparison, the normal ECN MT4 accounts by this broker imply a commission of $5-$20 per 1 million currency units traded. And I cannot miss telling you that until the end of the year, you can trade commission-free with FXTM's ECN MT5 accounts too.
But back to the subject of our current interest – the ECN Zero accounts. I had expected that these accounts to involve a very high initial deposit requirement, something normal for ECN accounts – but FXTM proved me wrong, as there is no such requirement at all.
Add to this the ability to trade with 38 currency pairs and spot Gold and Silver, as well as a floating leverage of up to 1:500 and variable ultra-tight spreads starting from 0 pips, and you'll realize how lucrative the proposal is.
And I almost forgot to inform you that Islamic traders can make use of ECN Zero too, as FXTM offers ECN ZERO Amanah. As you know, Islamic accounts are swap-free
accounts which involve some other form of charge from which the broker can benefit. In the case of FXTM, owners of ECN Zero Amanah accounts share from 2% to 7% of their profitable trades with the broker, with the percentage depending on the balance of the client's account.
If (for some weird reason) you cannot or do not wish to take advantage of FXTM's proposal, but you'd still like to open an ECN account, you can check our comprehensive list of Forex brokers offering ECN execution here
Led by Mr Andrey Dashin, founder of Alpari, ForexTime Ltd is committed to providing the tools and support to ensure maximum performance for traders. ForexTime Ltd will offer trading and other investment services in Forex, commodities, precious metals, shares, indices and other financial instruments.