fxtm

Regulators: FCA, CYSEC, FBS, IFSC

Cryptocurrencies: YES

Minimum Deposit: $5

Maximum Leverage: 1:1000

Spreads: Low

My Score: 8.7

Do you wonder one of the brokers out there? Today, I’m here to show you comprehensive information about FXTM review today.

ForexTime, or FXTM, is a well-known forex broker. It is also one of the old brokers, the brokers make trading operations since 2011.

Personally, I have traded with this broker for several months. In this article you will find FXTM spreads, funding methods, account types and more.

Is FXTM legit? Which licenses do they have and which regulations are they subject to? Are fxtm minimum deposits and spreads are low enough? What about leverages? Is it possible to open a demo account?

Is customer support competent? I’m sure that you will get all these answers now, Do not open an account at FXTM before you read this FXTM broker review article!

The company also sponsors Lewis Pugh. As a Brand Ambassador, he supports blue economy. Since he is the first one who swam 530km along the English Channel, a positive effect on brand is inevitable.

ftxm and alpari owner andrey dashinThe official website of FXTM serves 17 different languages and has approximately 1 million visitors per month.

The company has offices in Cyprus, Kuwait, Nigeria and United Kingdom. I investigated how they grew up quickly.

FXTM’s owner Andrey Dashin. He also owns the Alpari forex broker. Therefore, the experience gained thanks to Alpari became important. He wants to serve with a variety of innovative account types that will cover many clients and seems to be successful so far.

The company has many awards. ‘2018 Best Trading Conditions’ from World Finance and  ‘2017 Forex Broker of the Year’ by Global Investor Mena Awards are among many of them.

The website gets the most traffic from Nigeria with 19%. Other countries from top 5 are Iran (8%), Vietnam (6%), South Africa (6%) and Lesotho (5%).

Regulations and Investor Protection

FXTM is regulated by 4 different regulators. These are CYSEC in Cyprus, FCA in the UK, FSB in South Africa and IFSC in Belize. Especially FCA and CYSEC are reputable financial watchdogs all over the world.

Furthermore, both FCA and CYSEC provide additional guarantees for clients funds. All brokers regulated by CYSEC are also members of Investor Compensation Fund in Cyprus.

ICT provides compensation up to 20,000 euros per person in the event of broker insolvency. FCA-regulated brokers are under the  Financial Services Compensation Scheme, FSCS, guarantee and provide with compensation of up to 50,000 sterlin.

You can check the licenses of the broker from search query of the related websites

  • FCA with license number 777911
  • CySEC with license number 185/12
  • FSCA with license number 46614

To summarize, we see that FXTM has very strong regulations. In addition, investors are protected by compensation funds.

FXTM Account Types and Spreads

FXTM offers a wide variety of account types. The owner of the company Andrey Dashin’s purpose is to create innovative account types. FXTM offers a wide variety of account types.  You can use 6 different accounts.

You can also use all of these account types with swap-free options. Therefore, there is a variety of accounts to satisfy everyone. When I entered the web-site, I saw that the broker had over 10,000 investors from 99 different countries.

Here are the account types you can use.

Account typeMinimum depositMaximum leverageSpreads (& Commission)
Cent$51:500from 1.5 pips
Standard$1001:500from 1.3 pips
ECN Zero.mt4$2001:500from 1.5 pips
ECN MT5$5001:500from 0.2 pips + $2 / lot*
ECN$5001:500from 0.1 pips + $2 / lot*
PRO$25 0001:500from 0 pips

Standard Account

The account is designed for all traders. Normally standard accounts (or sometimes basic account on other forex brokers) charged with high commission fees. But this isn’t acceptable in today’s forex trading market. FXTM is aware of that and there is no commission fee.

Cent Account

ForexTime one of the Cent Account forex broker which enables nano account type, similar to the Micro Account in broker. The minimum deposit for this forex cent account account type is $ 5.

Generally, a cent account is preferred by traders who use robots. Traders can try out their robots or trading strategies without risk for this account type.

Shares Account

The leverages are fixed with 1:10 for shares account. You can get live results from NYSE ( New York Stock Exchange) and NASDAQ (National Association of Securities Dealers Automated Quotations).

Muslim traders who do not want to earn or pay interest can opt for swap-free accounts. You have to apply for FXTM for this. FXTM broker may ask you to document your belief in religion and accept your application if it consider it appropriate.

Trading Platforms

When it comes to trading platforms, the website claims that clients to be spoiled for choice. But in fact, there are only two platforms offered to clients: Meta Trader 4 and Meta Trader 5. These are market standard platforms supported by most brokers.

Some of other brokers also code their platmors. They are called in-house platforms. FXTM lacks that. However, the company has their trading tools, such as ‘Pivot Point Strategy’, ‘Trading Signals’, ‘ForexTime App’ and ‘Forex VPS Trading’.

FXTM Pivot Point Strategy

The tool enables integration of most useful trading tools with inclusion of technical data. You can blend 5 pivot point calculations (Standard, Fibonacci, DeMark, Camarilla and Woodie) with 3 indicators (MACD, Moving Average and Momentum).

Trading Signals

This tool may help you with illustrating fluctuations of prices on 14 financial instruments (8 currency pairs, 3 commodities, 3 market indices). You can also use ‘protective stop loss’ to safeguard your money and curtail risk.

ForexTime App

If you are used to reach your customer account with using smartphone and tablet, this tool is for you. Also you can get recent developments in the market and much more like local meeting information, enrolling promotions and contests in the app.

Forex VPS Trading

VPS is abbreviation of Virtual Private Server. You can imagine it as a real computer. It can provide many advantages. Maybe you aren’t able to run your computer 24/7 or your computer can fail at the most important time.

In VPS, you won’t have these problems. Connection speed will be adequate, your data will be recovored fastly when necessary. So it can be really useful to use VPS Trading. It only requires a PC or a mobile device with RDP (Remote Desktop Protocol).

Customer Service

I’m not surprised that the firm got ‘2017 Best Customer Service Global’ award from World Finance. Most of customers are satisfied by customer support including me.

There are many options for live support: Live chat, Whatsapp, Viber, Telegram, Messenger and they  even call you back if you want. Their live chat service is fast and the employees seem very friendly.

The website serves in 18 languages. This is astonishing! It totally fits to essence of globalism.

Funding and Withdrawal Methods

At FXTM, you can use a variety of methods to make deposits or withdrawals from your forex account. FXTM, the broker with the widest payment methods of forex brokers I have seen so far. I think no one can say that I want to make a deposit in FXTM but the methods available are not suitable for me.

Anyone can easily make deposits and withdrawals with bank wire, credit/debit cards or e-wallet systems like NETELLER, Skrill, DIXIPAY, CashU, Fasapay.

MethodsCurrenciesProcessing TimeFees / Commission
USD, IDR InstantNo Commission
VNDInstantNo Commission
VNDInstantNo Commission
GBP, USD, EUR InstantNo Commission


EUR, USD, GBPInstantNo Commission
CNY InstantNo Commission
EUR, INR, USD, GBP, PLN, NGN24 hoursNo Commission
EUR, USD, GBP, PLN, CZK 24 hoursNo Commission
RURInstantNo Commission
USD, EUR, RURInstantNo Commission
USD, EUR InstantNo Commission
USD, EURInstantNo Commission
USDInstantNo Commission
RURInstantNo Commission
RURInstantNo Commission
USDInstantNo Commission
USD, EURInstantNo Commission
BTC24 hoursNo Commission
USDInstantNo Commission
USDInstantNo Commission
USDUp to 1 business dayNo Commission
EUR3-5 Business DaysNo Commission
MethodsCurrenciesProcessing TimeFees / Commission
USD, IDR 24 hours0.5%
VND24 hours1.5 %
VND24 hours1.1% + 0.05 USD
GBP, USD, EUR 24 hoursNo Commission


EUR, USD, GBP24 hours2 EUR/ 3 USD/ 2 GBP
CNY24 hoursNo Commission
EUR, INR, USD, GBP, PLN, NGN24 hoursNo Commission
EUR, USD, GBP, PLN, CZK 24 hoursNo Commission
USD, EUR, RUR24 hours2%
USD, EUR 24 hours0.5%, max. 2.99 EUR

0.5%, max. 2.99 USD
USD, EUR 24 hours0.5%, max. 5 USD
RUR24 hours1.5%
RUR24 hours1.5%
USD, EUR24 hours0.5 %
BTC24 - 48 hours1 %
USDUp to 1 business day2 %
EUR24 hoursEUR - 10 EUR

Trading Instruments

Forex

Forex is the most frequent way of trading. Everyday hundreds of millions people exchange their money in pairs with forex trading.

You can trade with major pairs which includes US dollar as either base or counter currency. But, maybe you would be more interested in minor pairs which includes major currencies without US dollar.

For example: EUR/CHF or EUR/GBP. Also exotic currency pairs exist in FXTM. It means one side of the currency belongs to an economy under development and the other side is a major currency. We can show USD/TRY as an exotic curreny pairs.

In the broker there are more than fifty currency pairs which you can trade as standard lots, mini lots or micro lots based on your maturity on the field. Trading operations are available 24 hours of the day in 5 days of the week.

Spot Metals

At the time of uncertainty, prices of Gold and Silver remain relatively stable to currency prices. So you can use it as safe haven or you can take risk using leverage 1:500.

Spreads are also low. Minimum 0.5 pips for standard account, 0.1 pips for ECN MT4 account and finally 0.2 pips for ECN MT5 account

Share CFDs

‘Contract for Difference’ is the expansion of CFD. Basically, CFD is an agreement of two sides about fluctuations of price on a trading instrument.

Seller must give money as much as the difference of prices between actual price and the price while the contract is made. So this gives customer an opportunity to reckon without negative events of companies.

This is remarkable advantage of the CFD. At FXTM, you can trade with approximately 180 firms including the shares of Alibaba, Amazon, Apple, Microsoft and American express.

Commodity Futures CFDs

ForexTime offers 3 different commodities i.e. UK Brent, US Crude and US Natural Gas.

Indices CFDs

Index exist to show statistical measure of change in a securities market. At FXTM you can trade with wide range of indices.

GDAX or DAX30 is one of them. It’s the stock exchange index of Germany and also very useful to predict general situation of European markets. Other indices that the broker enables to trades are AUS200 which is Australian 200 biggest companies.

UK100, SP500m and ND100m are the other indices that you can trade with.

Cryptocurrency CFDs

Everybody is heard of bitcoin, right? What about Ethereum, Litecoin and Ripple? ForexTime enables you to trade with these cryptocurrencies against US Dollar.

Promotions

There are currently 7 fxtm bonus. 5 of them are deposit bonuses. Good news for the Middle Eastern clients. Because they can get 10% of their deposit back 30th of November.

Even better news for South Asian, Greater China and Africa since the same promotion reaches to 30% bonus. Additionaly if you switch to FXTM and deposit minimum amount in thirty days, you will get $30.

Their promotions hasn’t finished yet. There is also the FXTM Loyalty Cashback which rewards its loyal customers with real cash.

Conclusion

Without doubt, one of the best broker (if not the best). I would fund my money without hesitating. The company have licenses by many renowned regulators. This means your money is absolutely in a safe place.

I personally gained a lot of money and didn’t have any problem while withdrawing my money. Moreover I seriously want to ask you. Do you know anyone who won’t be happy with 1:1000 leverage?.

Maybe they don’t offer so many options on trading platform but at least they support the most popular trading platforms. Also they have many special tools I mentioned above.

They have many awards and in my opinion, they certainly deserve these. Also there are abundance of trading instruments. You can choose them depending on your mode or market situation.

All in all, my FXTM reviews are positive and I definitely advise you to trade.

I would be really appreciated if you share your experiences in the comment below.

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FXTM (ForexTime)

8.7

Trust

9.0/10

Commissions and fees

8.5/10

Customer Service

9.0/10

Platform & Tools

8.0/10

Product Portfolio

9.0/10

Pros

  • Strong regulations (FCA,, CYSEC)
  • Account type variety
  • Negative Balance Protection

Cons

  • Low max order size of 30 standard lots per trade

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Shobha Vaishnav
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Shobha Vaishnav

hello

carrie
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carrie

I joined this broker for 8 months. I satisfied their trading service because they given me very good service. I decided to trade long time here. Their Withdrawal process is super fast. I had Never encounter any problem on withdrawal especially.