FXTM
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| Popularity |  |
| Leverage | Up to 1:1000 |
| Minimum Deposit | $50 |
| Regulation | ASIC, CySEC, FCA |
| Payment Methods | Credit Card, Bank Transfer, PayPal, Skrill, Neteller |
| Trading Assets | Forex, Indices, Commodities, Stocks, Cryptocurrencies |
| MT4 | ✅ |
| MT5 | ✅ |
| Spreads | Low |
| Average cost: EUR/USD | 1.1 pips |
| Demo Account | ✅ |
| Islamic Account | ✅ |
| MAM | ✅ |
| PAMM | ✅ |
| CopyTrading | ✅ |
| ZuluTrade | ❌ |
| Scalping | Yes |
| Signals | ✅ |
| EAs/Robots | Available |
| Negative Balance Protection | Yes |
| Deposit Fee | ❌ |
| Withdrawal Fee | ❌ |
| Inactivity Fee | After 6 months |
| Year Established | 2011 |
| Address | FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus |
| Contact Information | Email: [email protected], Phone: +44 20 3734 1025 |
| Phone APP | |
| Rating | ★★★★☆ [4.5] |
| Website |
Pros and Cons
- Wide range of trading instruments
- Regulated by major authorities
- Low spreads and high leverage options
- Advanced trading platforms (MT4 and MT5)
- Comprehensive educational resources
- ZuluTrade not available
- Inactivity fee after 6 months
- Limited product portfolio compared to some competitors
- No 24/7 customer support
- Withdrawal process can be improved
Introduction
In the fast-paced world of online trading, finding a reliable and user-friendly broker is essential for navigating the financial markets successfully.
ForexTime (FXTM) stands out as a leading figure in this competitive arena, offering a blend of innovative technology, comprehensive market research, and customer-centric services.
This review delves deep into what makes FXTM a preferred choice for traders globally, examining its offerings, performance, and how it compares with its competitors.
Open a free accountFXTM: A Brief Background
Established in 2011, FXTM has rapidly grown into a prominent name in the online forex trading industry.
The broker is known for its strong regulatory framework, being licensed by various financial authorities worldwide, including the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, and others.
FXTM’s commitment to transparency and customer protection is evident in its adherence to strict regulatory standards.
Key Features
The broker offers an impressive range of features designed to cater to both novice and experienced traders.
Here are some of the broker’s standout attributes:
- Wide Range of Financial Instruments: Traders can access a diverse selection of markets, including forex, commodities, indices, stocks, and cryptocurrencies.
- Robust Regulatory Framework: FXTM is regulated by several top-tier authorities, ensuring a secure trading environment.
- Advanced Trading Platforms: The broker provides access to the industry-leading MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
- Educational Resources: A wealth of educational materials and resources are available, catering to traders at all levels of experience.
- Competitive Spreads and Leverage: FXTM offers competitive trading conditions, including tight spreads and high leverage.
Trading Platforms and Tools
Its commitment to offering cutting-edge technology is evident in its selection of trading platforms.
Both MT4 and MT5 are available, catering to the needs of various traders.
- MetaTrader 4 (MT4): Renowned for its user-friendly interface, MT4 is ideal for traders of all levels. It offers advanced charting tools, technical indicators, and automated trading capabilities.
- MetaTrader 5 (MT5): Building on the strengths of MT4, MT5 provides additional features such as more timeframes, technical indicators, and enhanced order management tools.
Traders can also take advantage of the mobile trading app, which allows for trading on the go with ease and efficiency.
Account Types
FXTM offers many account types to suit the different needs and strategies of traders:
- Standard Account: Suitable for beginners, offering standard trading conditions with no commissions.
- Cent Account: Designed for newcomers, allowing trading with smaller amounts and risk.
- ECN Accounts: Catering to experienced traders looking for direct market access and lower spreads.
- Shares Account: Specifically designed for traders interested in trading shares directly. This account type provides direct access to the stock market without the use of CFDs.
- FXTM Pro Account: Aimed at professional traders and institutional investors, the FXTM Pro account offers ultra-low spreads from 0 pips and no commissions, providing conditions ideal for high-volume trading.
Each account type is tailored to meet specific trader needs, from beginners to seasoned professionals, ensuring a customized trading experience.
Create accountCustomer Support
FXTM prides itself on providing exceptional customer support.
The broker’s dedicated team is available 24/5 to assist with any queries or issues traders may encounter.
Support is offered in multiple languages, reflecting FXTM’s global reach and commitment to catering to its diverse clientele.
Trading Conditions
FXTM is known for its competitive trading conditions, which are designed to suit the needs of a wide range of traders.
Here’s an overview:
- Spreads: FXTM offers tight spreads starting from just 0.1 pips for ECN account holders. For Standard accounts, spreads begin at 1.3 pips. The broker’s transparent pricing model ensures that traders always know the costs associated with their trades.
- Leverage: Depending on the account type and the trader’s jurisdiction, leverage can go up to 1:1000. This high leverage allows traders to control larger positions with a smaller amount of capital. However, it’s important for traders to understand the risks involved with high leverage.
- Minimum Deposit: The minimum deposit requirement varies by account type, starting as low as $10 for a Cent account, which is ideal for beginners looking to start with a low investment.
Educational Resources and Research
FXTM places a strong emphasis on education and research, providing a wealth of resources to help traders make informed decisions:
- Webinars and Seminars: The company regularly hosts educational webinars and seminars led by industry experts, covering a wide range of topics from forex fundamentals to advanced trading strategies.
- Ebooks and Articles: A comprehensive collection of ebooks and articles is available, offering insights into the financial markets, trading psychology, risk management, and much more.
- Trading Tools: Traders have access to advanced trading tools, including economic calendars, pip calculators, and margin calculators, helping them to plan their trades effectively.
The broker’s dedication to education and research demonstrates its commitment to empowering traders with the knowledge and tools they need to succeed in the markets.
Market Analysis
In addition to educational resources, it offers in-depth market analysis:
- Daily Market Analysis: Expert analysts provide daily insights into market movements, offering traders valuable information to inform their trading decisions.
- Market Outlook Videos: These videos offer a visual analysis of key market events and trends, helping traders to stay ahead of the market.
This analysis is crucial for traders looking to keep up with the fast-paced financial markets and make decisions based on the latest information.
Safety and Regulation
As mentioned earlier, FXTM is regulated by several reputable financial authorities, including CySEC, FCA, and others.
This regulatory framework ensures that FXTM adheres to strict standards of operation, providing traders with a secure and transparent trading environment.
Client funds are kept in segregated accounts, ensuring their protection under various circumstances.
Getting Started
For potential traders considering FXTM, understanding the steps to open an account and start trading is crucial.
Here’s a simplified process:
Opening an Account:
- Visit the Website: Start by navigating to FXTM’s official website and click on the ‘Open Account’ button.
- Fill in the Registration Form: Provide the required personal details, including name, email address, and phone number.
- Verify Your Account: Submit the necessary identification documents for KYC purposes, such as a copy of your ID and a recent utility bill for address verification.
- Choose Your Account Type: Select the account type that best fits your trading style and requirements.
- Download the Trading Platform: Install the MetaTrader platform (MT4 or MT5) on your device.
Depositing Funds:
FXTM offers various deposit methods, including bank transfers, credit cards, and e-wallets like PayPal and Skrill.
Log in to your account, navigate to the deposit section, select your preferred method, and follow the instructions.
Withdrawing Earnings:
Withdrawals can be made through the same methods used for deposits.
Access the withdrawal section of your account, select the method, and amount, then submit your request.
Withdrawal times can vary depending on the method.
Safety and Security
FXTM’s commitment to safety and security is evident through its regulatory compliance and measures to protect client funds and personal information.
The broker employs advanced security protocols, including SSL encryption, to ensure that all transactions and data transmissions are secure.
Conclusion
FXTM stands as a formidable broker in the online forex and CFD trading space, marked by its robust regulatory framework, diverse account offerings, and dedication to client education and support.
With continuous efforts to improve and adapt to its clients’ evolving needs, the broker is poised to remain a preferred choice for traders looking for a reliable and enriching trading experience.
Whether you’re taking your first steps in the trading world or seeking advanced strategies and insights, FXTM provides a solid foundation and the tools necessary for success in the global markets.
Visit www.forextime.comUser Reviews
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Frequently Asked Questions (FAQ)
What is the minimum deposit required to start trading?
The minimum deposit required to start trading is $50, making it accessible for beginner traders.
Is FXTM regulated?
Yes, the broker is regulated by major authorities including ASIC, CySEC, and FCA, ensuring a high level of security and fairness for traders.
Can I trade cryptocurrencies?
Yes, FXTM offers the opportunity to trade cryptocurrencies along with forex, indices, commodities, and stocks.
Does it offer educational resources for traders?
FXTM provides a comprehensive range of educational resources, including webinars, e-books, and tutorials, suitable for traders of all levels.
Are there any fees for deposits and withdrawals?
FXTM does not charge any fees for deposits. However, withdrawal fees may apply depending on the payment method used.
What trading platforms does it offer?
FXTM offers the widely-used MT4 and MT5 trading platforms, known for their reliability and range of trading tools.
Is there a demo account available?
Yes, FXTM offers a demo account that allows traders to practice their trading strategies without risking real money.
Resources
Our experts
This article has been written, edited and reviewed by the following members of our team:
Feng Zhou
Feng Zhou, a seasoned author and financial expert, boasts a diverse portfolio of articles recognized by prestigious publications such as Bloomberg, Global Asia, and BizLeaders. Graduating from the University of Hong Kong marked the inception of Mr. Zhou's journey into the financial sector. Initially delving into financial statement audits for both publicly traded and privately held clients, he honed his skills before furthering his education at Hong Kong Polytechnic University. During his tenure, Feng Zhou contributed significantly to the valuation of privately held businesses, engaged in forensic accounting, and provided litigation-related services. His professional trajectory also includes valuable experience at Nezu Asia Capital Management, a prominent hedge fund giant. Demonstrating entrepreneurial spirit, Feng Zhou founded a financial asset management company and frequently shares his expertise as a guest lecturer at various Chinese MBA programs. His prolific writing extends beyond traditional platforms, with articles featured in a range of industry events and publications, including FoxTrade, The MoneyShow, London Summit, and iFX EXPO. With a keen eye for market trends and a wealth of experience, Feng Zhou continues to be a prominent voice in the financial landscape.
Sandro Pontedra
Sandro Pontedra is the mastermind behind the insightful financial analysis and educational content that FoxTrade readers have come to rely on. With a rich academic background from Università di Bologna and the University of Milan, Sandro has built a career that spans across private wealth management and financial analysis, culminating in his role as Chief Accounting Officer for a prominent firm. An avid trader with over a decade of experience in the markets, Sandro combines his hands-on trading knowledge with a keen analytical mind, offering FoxTrade readers a unique blend of practical advice and in-depth market insights. His work, recognized by major financial publications, reflects his passion for finance and commitment to demystifying complex financial concepts. Sandro is dedicated to empowering readers with the knowledge and tools needed to navigate the financial markets confidently. Whether you're a seasoned investor or new to trading, his articles provide valuable insights into investment strategies, market analysis, and the future of finance and technology.
Stephane Dubois
Stephane Dubois stands at the forefront of financial analysis and industry expertise, driving innovation and insight across global markets. With a diverse academic background in International Relations and World Economy, coupled with practical experience spanning government projects and private sector endeavors across five continents, Stephane brings a wealth of knowledge and perspective to his role. As a senior editor at FoxTrade, Stephane oversees the publication of insightful content, ensuring that readers receive accurate and timely analysis to navigate the complexities of the financial world. His leadership and editorial guidance have been instrumental in shaping the platform into a trusted source of information for investors and traders alike. Beyond his editorial responsibilities, Stephane is revered as a leading analyst in the online broker industry. His insights have been instrumental in shaping strategies and decision-making for executives worldwide. Stephane's expertise isn't confined to the boardroom; he is also an esteemed business school professor, with an MBA from Columbia University and prior experience at Goldman Sachs. Stephane's impact extends beyond the confines of academia and corporate settings. He has spoken and moderated panels at prestigious events globally, earning citations from esteemed publications such as Finance Monthly, The Journal of Finance, and Financial Analysts Journal. His contributions to industry discussions cover a wide array of topics, from forex strategies to stock market catalysts, earning him recognition as a thought leader in the financial world.
Last update: April 27, 2024