FXTM

Switch to FXTM and get $30 to Trade
Payouts:
Min Deposit: $10

FXTM

  • founded 2011
  • Spreads from 0.1 Pips
  • Leverage 1:1000
  • Regulation CySEC,FCA, FSCA, IFSC
  • Scalping, Hedging, EA Robot, News trading
  • Payment options credit card, Neteller, Skrill, Webmoney, Western Union, Wire transfer
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Details

Broker FXTM
Website URL https://www.forextime.com
Founded 2011
Headquarters 35, Lamprou Konstantara, FXTM Tower, 4156, Kato Polemidia, Limassol, Cyprus
Support Types Email , Callback , Live chat , Office , Phone , Web form
Languages English , Arabic , Chinese , Czech , French , Indonesian , Malay , Persian , Polish , Russian , Spanish , Turkish , Vietnamese
Trading Platform MT4, MT5, FTXM Trader
Minimum 1st Deposit $10
Minimum Account Size 0.01
Bonus Switch to FXTM and get $30 to Trade
Leverage Up to 1 : 1000
Spread from 0.1
Free Demo Account Open Demo
Regulated Yes
Regulation CySEC,FCA, FSCA, IFSC
Account Types Micro , Advantage , Advantage Plus
Deposit Methods Credit Card , Neteller , Skrill , Webmoney , Western Union , Bank wire transfer
Withdrawal Methods Credit Card , Neteller , Skrill , Webmoney , Western Union , Bank wire transfer
Number of Assets 250+ financial instruments, over 50 currency pairs, CFDs on Cryptocurrencies, Spot metal, Shares, Commodities and Indices.
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 5

Pros

  • founded 2011
  • Spreads from 0.1 Pips
  • Leverage 1:1000
  • Regulation CySEC,FCA, FSCA, IFSC
  • Scalping, Hedging, EA Robot, News trading
  • Payment options credit card, Neteller, Skrill, Webmoney, Western Union, Wire transfer

Cons

  • Inactivity and withdrawal fees

Our Review

  1. What is FXTM?
  2. FXTM Pros and Cons
  3. Awards
  4. Safe or a scam?
  5. Leverage
  6. Accounts
  7. Fees
  8. Spreads
  9. Deposits and Withdrawals
  10. Market Instruments
  11. Trading Platforms
  12. Customer Support
  13. Education & Research
  14. Conclusion

What is FXTM?

The FXTM brand was founded in 2011 and trades as ForexTime Ltd. Headquarters are in Cyprus (Limassol). ForexTime is considered safe because it is regulated by the Financial Conduct Authority and CySec among other regulators. It has been at the forefront of the forex market for over 10 years.

The brand FXTM has established its core competencies in global markets and conditions with inclusive education giving traders of all levels around the world access to the markets.

FXTM Pros and Cons

FXTM is a reputable broker with a strong brand and a global customer profile, supported by strong regulation and licenses. Account opening is easy, FXTM offers one of lowest deposit requirements, which is currently $10, three types of accounts. Spreads vary across account type but generally they are low and supported by excellent customer service and Forex education.

Negative points there is a withdrawal fee.

 

FXTM Review 2022

Awards

Fast client approval to a seamless integration with MT4 and MT5, comprehensive learnings and weekly analysis, FXTM has been highly rated by new and existing traders continuously over the last 10 years 90% of positive feedback.

FXTM boasts a strong community of traders with more than 750,000+ active accounts trading, numerous incentives and has gained numerous awards for excellence in trading.

FXTM also proudly support and sponsor various world Sports teams and events to raise awareness and activate new traders.

Safe or a scam?

FXTM brand is not a scam, as it is a well regulated broker operating under the ForexTime Ltd company, and Exinity Limited group of companies. Importantly boasts top tier regulation in every region the FXTM brand operates in, which benefits from a high score from us in terms of trustworthiness.

Regulation is most important to ensure safety of funds for investors of all levels. Unregulated entities provide a high potential to lose all funds.

Is FXTM a legit company?

Absolutely, the brand FXTM is a legit broker, trading under the forextime ltd and Exinity limited entity. Both entities and the brands that it serves are authorised and regulated by top tier global jurisdictions.

The main entity ForexTime Ltd is regulated by CySEC of Cyprus, authorised by FSCA of South Africa, and additional offshore authority FSC in Mauritius. Also, the FXTM UK brand is licensed by the Financial Conduct Authority known as the best regulator, which has principals built by European MiFID and ICF allowing cross broker activity.

How are you protected?

Forextime ltd and exinity group ltd licenses mean FXTM complies with all the strict regulatory requirements, trader’s investments are considered to be safe, as the broker segregates funds from the operational funds of the FXTM while kept in reputable EU banks.

In addition, FXTM is a member of the Investor Compensation Fund that compensates in case of the company insolvency, as well as protected by the negative balance protection and other requirements that are audited on a regular basis by the authority.

Leverage

When you trade with FXTM you are able to operate with fixed or floating leverage. Leverage is a very useful tool, especially for small account holders, as it allows potential gains to increase quickly.

What is the risk level?

trading is risky, correct leverage should be applied by instrument, as it may increase your potential for loss. Therefore, FXTM leverage is determined by various controls and set primarily against regulatory requirement your region.

Risk is also factored in based on trader experience and knowledge, so always answer correctly based on your trading experience and reach out to FXTM client relations to get some guidance if necessary.

If you would like to operate under higher leverage trading ratios like 1:400, 1:500 or even 1:1000 you may open an FXTM account under a particular entity that enables higher leverage levels, offered by FXTM.

If you are a resident of the UK or Europe, as well holding an account under European entity which obliges to ESMA regulation, the maximum current leverage ratio is set to a

  • 1:30 on Forex instruments
  • 1:20 Spot Metals, 1:10 XAG USD
  • 1:20 Minor Currency Pairs
  • 1:5 Shares

Accounts

Accounts offered by FXTM include separate accounts for Forex trading and Investment Accounts. Then there is a further split to your preference of the trading transactions, instrument and the trading size, which all in all offers you 3 Account types – Micro, Advantage and Advantage Plus.

A deep dive into the accounts FXTM sees a choice for clients of three options – Micro, Advantage and Advantage Plus

Micro Account – is a basic account with low minimum deposit $10 & instant execution, zero commission and spreads from 1.5 pips.

Advantage Account – offers cheaper commission of $0.40 – $2 based on volume and spreads from 0.0.

Advantage Plus Account – Is a partner account with zero commission (spread only), and spreads from 1.5 pips.

Always make sure to activate your trading account under the entity you will trade as FXTM accounts may vary slightly between Forextime Limited, ForexTime UK or Exinity Limited. In this FXTM review we will focus on Forextime limited so trading conditions are clear.

How do I open an FXTM account?

FXTM accepts clients from most geographic locations, however the usual restrictions apply to residents of the USA and Japan.

The process of opening account is pretty simple and requires you to follow the FXTM sign-up link where you will be guided through a simple account opening process.

Opening an account step by step

  1. Access FXTM Sign-up page
  2. Enter your personal data first and last name, country of residence, email, phone, etc.
  3. Answer online questionnaire about your trading knowledge and expectations
  4. Select account type
  5. Verify your account by uploading your personal identity documentation.
  6. Once your account is activated and processed you can deposit funds.

Fees

Costs are typically built into the spread and further defined by the account type you choose. In addition, you should always consider other fees like non-trading fees, withdrawal fees and swaps, which we will cover in more detail later.

Generally, FXTM offer tight floating spreads while Standard MT4 spreads start from 1.6 Pips and from 0.1 pips for ECN accounts available on both platforms MT4 or MT5, FXTM add on a commission charge per order.

An overview of the Non Trading Fees

FXTM will charge you 5$ per months in case you didn’t show any trading activity for a period of six months or more, this is known as FXTM Inactivity fee.

Despite this, there is no deposit fees and some withdrawals are free also, which we will discuss further later, overall the FXTM fee structure is quite transparent.

FXTM Spreads

FXTM offers spread only with no commission in case you use Advantage Plus and Micro Account, see FXTM spreads below This offers traders simplicity and full transparency against each trade.

FXTM offer three Accounts with various fees, the standard spread starts at 1.5 pips for USD / EUR / GBP / NGN.

Shares Fees

FXTM offer the chance to trade Shares, the fee is accounted for in the spreads and is the only charge. The shares fee is quite competitive compared to industry standards. Below you can see comparisons between other trading CFDs brokers, remember this is the standard proposal, which seems to be average/ high at FXTM.

FXTM is very flexible offering different account types depending on the instrument and stocks you wish to trade with FXTM.

Demo Account

New traders often start to learn to Trade via a Demo account, which builds confidence to trade. A detailed step-by-step tutorial and individual support from your account manager in 16 languages is available.

Additional features exist for FXTM Invest Account, which includes copy trading tools supported by the Top Strategy Managers and is suitable for beginners.

For accurate and updated information please check the official FXTM website.

Deposits and Withdrawals

FXTM make it simple and straight forward to fund your account with multiple options that exist to deposit and withdraw from your account.

Deposit options

To fund an account you may choose the following methods, which may vary according to your geographic location. FXTM deposits are processed quickly, within minutes your money will be available in your account.

  • Credit Cards
  • Bank wire transfers (using GBP, PLN, USD, EUR, RUR)
  • E-wallets (Neteller, Skrill, Alfa-Click, WebMoney, Western Union, Dotpay, Yandex money, Qiwi wallet, Bitcoin via Skrill, and counting)

FXTM minimum deposit

FXTM minimum deposit requirement is  $/€/£ 100 for Account Standard and only 10$ for a Micro Account. Deposit fees are typically covered by FXTM which is a bonus.

Withdrawal

FXTM withdrawal options is widely available including bank transfers, e-wallets and cards. The withdrawal fee varies from one to another. As an example, Credit Cards withdrawal features 3$ fee, while Bank Transfer will cost 30$, and WebMoney will charge 2% above the requested amount. However, these withdrawal fees are still considered to be low compared to industry standards. other withdrawal methods may offer 0% commission.

How do I withdraw money from FXTM?

Once you decide to withdraw money from you account you obviously should submit an online request and follow with the required procedure. To make it short you simply should follow the following steps

  1. Login to your account in MyFXTM and go to Withdraw page through My Money
  2. Select the withdrawal method, required amount and click ‘Withdraw’
  3. Complete the withdrawal request along with PIN that will be sent to your email or phone via SMS
  4. Confirm withdrawal and Submit

How long does it take to withdraw from FXTM?

The FXTM withdrawal process generally takes two business days to be processed by the FXTM accounting department within 2 business days.

Always consult with customer service to confirm, as various geographic locations may apply slightly different terms. Also, allow time for your payment provider to process the transaction.

Bonus

FXTM does offer a Bonus through out the year available in different geographic locations so watch out to avail of benefit from offers.

Does FXTM have Bonus?

Yes FXTM offers Bonus programs. However, the Bonus program is strictly available only for the international brand of FXTM and those clients that are trading or holding an account with Exinity Limited, registered under the laws of Mauritius.

How do I claim my FXTM bonus?

So if you open an account with the international entity of FXTM you may claim your bonus if FXTM are running an offer at that particular time.

At the moment for example there is a promotion of 30% bonus available in certain geographic locations, you may claim the Welcome Bonus of 30%, while you should register for an account then select the bonus promotion, deposit funds and start trading. Also note, every bonus program applies specified terms and conditions on how it should be used or accessed.

Market instruments

FXTM offers a wide range of markets and many account features amongst the best industry brokerage providers.

Markets include 250+ financial instrumentsForex products with over 50 currency pairs including attractive FXTMCFDs such as spot metal CFDs, share CFDs on over 170 major companies, CFDs on Commodities and CFDs on Indices.

FXTM Markets compared to similar Brokers

It is also good to compare FXTM to other industry offerings, so in the table below you may see available assets and instruments.

FXTM Trading Platforms

FXTM use the industry’s leading software third party providers MT4 and MT5.

Web Trading Platform

As the FXTM platform is MT4 or MT5 software both offer various versions available either as WebTrading platforms or as an app that can be installed on any mobile device. Web trading software is a great option if you are a beginner or regular lot trader, as the platform is accessible straight from the browser and does not require any installation, so it is easy safe and navigated.

Desktop Trading Platform

If you require more tools along with powerful customisation you are recommended to choose the Desktop version. MetaTrader supports all kinds of devices including PCMAC via third party apps as well as accessible Multi Terminal that is useful for money managers.

Via the desktop MT4 and MT5 software included are risk management tools, as well as trading indicators – Pivot points strategy and trading signals. Along with calculators that are designed to bridge the gap between new and existing traders.

Mobile Trading Platform

FXTM accounts are accessible mobile or tablet devices, so you will always have access to your account. The Design is user friendly and the app is packed with tools and alerts so you can remain in control.

Social Trading

The FXTM platform also enables automated trading which is the execution of orders automatically based on traders you follow.

Or you may follow the Social Trading leaderboards and trade manually. By following these strategy managers, which you can choose through numerous criteria or filters to follow. In reverse, professionals may become managers and gain extra income by sharing trades.

Customer Support

Customer service from the FXTM operation is really strong, which is available through various sources including Online Live Chat, Phone, emails, Messenger applications etc.

FXTM enjoys positive feedback from clients in terms of its good reputation, FXTM also supports a great range of languages, so you always may count on help whenever you need it.

There are established customer service desks in Europe, Africa and Asia to cover the global needs of traders.

Education

The main approach of FXTM is to be a client oriented broker, looking after the trader’s funds, education and well being. FXTM have a solution to meet your style of trading and needs and provide outstanding service.

In terms of education, FXTM host regular educational events in cities around the world while satisfying the demand to start the trading journey and offering support to everyone who would like to engage in trading.

There are webinars, seminars, platform tutorials, trading tools, research tools, a superb glossary, Forex news, Economic Calendar, Market outlooks and expert Analyst analysis.

FXTM education is one of the best we see in the industry, so this point is definitely well organised and highly recommended for new traders.

Research

FXTM promote a Forex Contest, which is held regularly and is one of the best ways to test your strategy, polish your trading skills and build confidence. The contest is available for entry across both Demo and Live accounts and is an ideal way for both experienced and “fresh” traders, to grow in the business. For recent results check the official FXTM website.

Conclusion

Concluding the FXTM Review, FXTM offers a measured degree of quality trading opportunities for new and existing traders across a number of account types. Other advantages with FXTM include, fees, customer service, trade-able CFDs and leverage, which is determined based on trader experience and knowledge, tight spreads are also a major plus with spreads from 0.1 pips and low deposit requirements of $10 for micro accounts.

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Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. Top5forex will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.