FXTM – The Best Forex Broker?
Read our FXTM Forex broker review below...
...ForexTime or FXTM is an international professional who provides an expanded range of online trading and investment services in the international currency market for clients from 99 countries. The main advantages are fast processing of orders under the best conditions, reliability, convenience and a wide range of services in the personal workspace.
Broker ForexTime has a solid license and a good reputation for customers, as evidenced by positive reviews. Traders will have access to a wide range of trading instruments. You can use currency pairs, precious metals, futures, contracts for difference. The total number of trading instruments is more than 100.
Multi-lingual customer support
Digital and fast account opening
Low trading fees
Loyalty cashback program
Low trading spreads
Segregated client funds
Only MetaTrader based platforms
Not available for USA traders
Limited cryptocurrency trading
Inactivity and withdrawal fees
Restricted leverage for EU clients
Limited choices of commodity assets
ForexTime or FXTM is a popular broker among traders that has provided brokerage services in the Forex market since 2011. This organization applies the highest standards of service and has an impeccable reputation in the market, which confirms the rating of forex brokers. The level of confidence in the broker increases the fact that its activities are controlled by an authoritative regulator from Belize IFSC, and a strict Cypriot regulator, CySEC. Licensee certificate allows financial services to be provided in European Union countries. Project starts to involve traders in its site in 2012. By 2015, the project had received 9 prestigious awards for its qualitative approach to work and innovation. Today, the project has official localization in 18 world languages. Support is available 24 hours a day. Transactions are serviced by the ECN/STP model, which avoids any conflict between the interests of the trading platform and the trader.
With the availability of MetaTrader4 and MetaTrader5 platforms for users FXTM, the broker addresses the needs of its customers by offering the two most popular Forex trading platforms on the market. MetaTrader4 still remains the most widely used trading platform, but it promises more MetaTrader5 as well as ECN functionality built into the terminal. MetaTrader4 recently received an update that allows FXTM to offer stocks and indices alongside traditional Forex and commodity products on behalf of broker FXTM. Platforms deliver better performance and reliability by connecting traders to high-speed trading servers and advanced protocols to ensure minimal latency and timely market execution.
Every FXTM trader has access to different trading terminals – MT4, MT5 and their mobile versions Android and iOS. According to many experts, this broker is an ideal option for low-skilled traders, as the site presents a wide range of useful and interesting training materials. In addition to the dictionary of terms and information articles, a special training center is available to monitor progress in the acquisition of Forex Trade skills. In addition, thematic webinars and seminars can be held regularly, which can be useful not only for beginners, but also for professionals.
The FXTM bonus system deserves special attention. Each customer has a chance to receive a bonus of 200% of the amount of the first deposit. Competitions and actions are also regularly held, in which cash prizes and valuable gifts are played.
To earn on speculative transactions, the trader who chose FXTM can choose between a large number of trading instruments: currency pairs, precious metals, shares of world-famous companies, raw materials, indices. Such a rich set of tools, conditions, functions and capabilities enables the trader to implement various trading strategies. FXTM has created all conditions for both newcomers and professional traders.
For each trader to have access to the optimal conditions, he is given 8 account options at once (the demo account is not among them). They are divided into three categories.
- Standart – three no-issue account options – with a minimum deposit of 5 and 100 dollars (1:1000 credit arm, spread from 1.3 pips), as well as a separate Standart account to trade CFD on stocks (credit arm up to 1:33 pips, spread from 0.1 pips);
- ECN. There is an ECN account with a minimum deposit of $200 (1:1000 credit arm, floating spreads from 0.5 pips), an ECN account from $500 (1:1000 credit arm, floating spreads from 0.1 pips, lot fee – $2). Also presented is a separate ECN account for the MT5 terminal with a deposit from $500 (credit arm – 1:1000, floating spreads from 0.2 pips, lot fee – $2). Strategic account – from $100, fixed credit arm 1:200, floating spread 0.3 pips (created for traders selling signals to subscribers);
- Pro. Deposit from $25000, spread from 0 pips, no fees. Credit arm – from 1:25 to 1:200.
FXTM also specializes in trading CFD on stock. Using an FXTM Stocks account, traders can select more than 150 U.S. stocks with a leverage of 1:33 on the well-known MT4 platform. Major corporations like Microsoft, Facebook, Google, Twitter and Apple are included.
FXTM has a good aresanal of educational materials, including a section that will help get trained for further successful trading. In the section you will learn the basic rules and laws of the forex market. On the FXTM website you can also meet seminars and webinars to enhance your knowledge. The trader will be able to receive training from almost anywhere in the world, FXTM will assign you a place and subject of a seminar or webinar. At least a few seminars or workshops are held each week, so they should be one that most customers like.
FXTM offers dozens of ways to replenish and withdraw funds to attract a wide range of customers. Replenishment methods include FasaPay, local transfers, using Mastercard/Visa or Maestro cards. VIP players can make deposits through Skrill or Neteller. All customers can also contribute funds through cryptocurrencies, Dixipay, DotPay, PayPal, TC Payment, GlobePay, WebMoney, Cash U, Perfectmoney, QIWI, Dusupay, UnionPay, Yandex.Money, Konnexone, TC Pay Wallet, Bitcoin, VLOAD, Bitcoin via Skrill, as well as using bank transfers. The methods of inference are almost identical, with some differences. Almost all withdrawal requests are reviewed within 24 hours.
The company offers 24/7 customer support by phone and Skype. The company’s website has an analytics department that is no different from other news sites. The information is available and publicly available. Trading terminals MetaTrader4 and MetaTrader5.
FXTM is one of the most reliable brokers, as it is regulated by several jurisdictions. The key link works in Cyprus, where the above-mentioned CySEC is responsible for the broker’s work. In South Africa, the work of the broker is regulated by the local organization FSB. User’s money is in segregated accounts. Please note that company FXTM will not be able to access them. This is the basic norm for any European financial company.
FXTM FAQ on the broker
1 Is FXTM a regulated broker?
Yes, FXTM is regulated by FSC, CySEC, FCA, IFSC, FSCA in Cyprus and others.
2 What trading platforms does FXTM offer?
FXTM offers the full suite of MT4, MT5, Web, Mobile.
3 What is FXTM maximum leverage?
Maximum leverage at FXTM is 1:1000.
4 What methods can I use to deposit and withdraw funds on FXTM?
Deposits and withdrawals with this broker can be done using these methods: Maestro, Visa, Mastercard, Neteller, Bank Transfer, Skrill, WebMoney, DotPay, PayPal, Perfectmoney, QIWI, Bitcoin, FasaPay, Yandex Money, UnionPay, Western Union, Dixipay, TC Payment, GlobePay, Cash U, Konnexone, VLOAD.
5 What is the spread of the FXTM broker?
The spread for this broker is on average FXTM is 0.1 - 1.5 pips.
6 What’s the minimum deposit to open a Live account at FXTM?
The minimum deposit to open a Live account is 100 USD.
7 What cryptocurrencies are available at FXTM?
In this broker are the following cryptocurrencies for trading: BTC/USD, ETH/USD, LTC/USD, XRP/USD.
8 In what currency can I open an account with FXTM?
With this brokers you can open an account in currencies: USD, EUR, GBP, NGN.
9 What Trading Instruments are available at FXTM?
On FXTM, you can trade financial instruments such as: Forex, CFDs, Commodities, Metals, Stocks, Oil, Gold, Indices, ETFs, Crypto, Commodity Futures.