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FXTPremium
Rating: Rated with 1 star
Binary Option Programs Award
Min. Deposit
$250
Min. Investment
0.01 lot
Regulated Broker
No

FXTPremium Broker Review

  1. FXTPremium

    FXTPremium in an unlicensed forex, CFD and cryptocurrency broker that appears to have it all: a professional website, a variety of account types including demo, educational material and 3 different platforms. Is this the whole story though?

    Read our full review and verdict of FXTPremium below and discover whether investing in this broker is really worth it.

    The 5 Account Types

    FXTPremium has 5 different accounts available that South African investors can choose from. As usual, the higher the deposit, the more features unlocked and the greater the account upgrade.

    Micro Account –> $250 – $999 Minimum Deposit 

    • Spreads: Fixed from 2
    • leverage: 1:400
    • Minimum investment: 0.01 lot
    • 3-5 standard days to withdraw
    • 20% margin
    • 15% bonus
    • Expert advisor

    Basic Account –> $1,000 – $4,999 Minimum Deposit

    • Spreads: Fixed from 2
    • leverage: 1:400
    • Minimum investment: 0.01 lot
    • 3-5 standard days to withdraw
    • 20% margin
    • 25% bonus
    • Expert advisor
    • Daily analysis

    Executive Account $5,000 – 14,999 Minimum Deposit

    • Spreads: Fixed from 1 / Variable from 0.5
    • leverage: 1:400
    • Minimum investment: 0.01 lot
    • 3-5 standard days to withdraw
    • 20% margin
    • 30% bonus
    • Expert advisor
    • Daily analysis
    • Communication manager
    • Algo trading

    Premium Account $15,000 – $50,000 Minimum Deposit

    • Spreads: Fixed from 0.7 / Variable from 0.5
    • leverage: upon request
    • Minimum investment: 0.01 lot
    • Express 2 days to withdraw
    • 20% margin
    • 40% bonus
    • Expert advisor
    • Daily analysis
    • Communication manager
    • Algo trading
    • MetaTrader 5 (MT5) trading platform
    • Free VPN

    VIP Account $50,000 + Minimum Deposit

    • Spreads: Fixed from 0.4 / Variable from 0.3
    • leverage: upon request
    • Minimum investment: 0.1 lot
    • Express 2 days to withdraw
    • 20% margin
    • 50% bonus
    • Expert advisor
    • Daily analysis
    • Communication manager
    • Algo trading
    • MetaTrader 5 (MT5) trading platform
    • Free VPN
    • Free bank wires

    South African investors are advised to contact their account managers regarding the extra features available on the VIP account.

    Demo Account

    FXTPremium also offers a free demo account, which is perfect for complete beginners as it allows them to practice trading entirely risk-free. In other words, before investing any real money, South African users can train and get fully accustomed to the FXTPremium trading platform. Then, once they feel ready, they can make their first deposit and start trading for real with one of the accounts detailed above.

    Trading Platform & Assets

    FXTPremium offers South African investors the ability to trade CFDs from all the major markets like forex, cryptocurrencies, commodities, stocks and indices. They have three different trading platforms available, depending on user preference and trading level. The three platforms available at FXTPremium are their web-based platform, their mobile app and the infamous MetaTrader 5 (MT5) trading platform. All three platforms are highlighted below.

    WebTrader

    As the name suggests, the FXTPremium WebTrader is an entirely web-based platform. This means the only thing required to trade is an internet connection and a laptop or PC. All South African investors need to do is log in to their FXTPremium account and they are good to go. This, of course, means no downloads or installations are required, which can be a huge advantage to many traders.

    MetaTrader5 (MT5)

    The MetaTrader4 platform is one of the most famous trading platforms, following MetaTrader4 (MT4). It needs to be downloaded on a desktop computer or laptop because it is a powerful trading software full of advanced trading settings and features. The MT5 platform is commonly used by more experienced traders.

    Mobile App

    Many South African users prefer to trade on-the-go through their mobile devices. If you are one of them, the FXTPremium mobile app is the perfect fit for you. Available on both the App Store and Google Play, the FXTPremium mobile app allows South African investors to trade anytime, from anywhere – which can be a huge convenience.

    Customer Support

    A good customer support team is always a sign of a professional company that puts its customers first – as they should. South African users can reach the FXTPremium support team anytime through email, phone or the contact form on their website.

    Payment Methods

    In the process of reviewing this broker, we could not find any information regarding the company that own and operates FXTPremium. This is an immediate red flag, as it proves that the broker lacks basic transparency which is essential for all companies.

    As for the payment methods this broker accepts, South African investors have several options. They can pay via credit card (Visa, Mastercard), wire transfer, Skrill, Neteller, WebMoney and PayPal.

    Note: South African traders are not advised to deposit any money with this broker.

    Verdict: Is FXTPremium a Scam?

    Through our thorough review of this broker, we have concluded that FXTPremium is a scam and South African traders would do well to stay away from them. Besides being an unlicensed company (which is never advisable), FXTPremium lacks basic transparency on their website. For these reasons we can only conclude that investing in this broker is dangerous and not advisable under any circumstances.

    Instead, South African traders should invest in award-winning, regulated companies like IQ Option – where transparency and security are guaranteed.  

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