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FXTM Review

FXTM (ForexTime) Review

 

FXTM GENERAL INFORMATION

Found: FXTM was found in 2011

Headquarters: FXTM has offices in Cyprus, UK, and Mauritius

US Residents: FXTM does not accept US traders –No-

Islamic Accounts: FXTM provide Islamic Accounts (SWAP-Free) –Yes-

Regulated: Forextime Limited is regulated by CySEC (No 185/12). Forextime UK Limited is regulated by FCA (License No. 777911). Exinity Limited is regulated by FSC (License No. C113012295) - Check below for more FXTM corporate information

FXTM offer MT4 and MT5 WebTrader versionsWeb-Site Languages: FXTM website supports many languages (English, Arabic, Spanish, Russian, Chinese, French, Italian, Korean, Czech, Indonesian, Malay, Persian, Polish, Thai, Urdu, and Vietnamese)

 

FXTM TRADING INFO SUMMARY

■ Broker Type: ECN (DD/NDD)

■ CFD Trading: -Yes-

Platforms: FXTM offer desktop and web platforms based on MetaTrader4 (MT4) and a MetaTrader-5 (MT5)

Trading Time Zone: GMT+2

■ Demo Account: FXTM is providing a Demo Account Yes-

■ Minimum Spread EUR/USD:

  • 1.6 pip (Standard account, no commissions)
  • 0.1 pip (ECN account, $2/lot commissions)

■ Leverage: Flexible. Leverage is offered by FXTM, based on your country of residence and knowledge & experience.

For Europeans, the leverage 30:1 when trading Forex majors, 20:1 when trading other asset classes, and 5:1 when trading shares

Scalping/Hedging: are both allowed at FXTM Yes-

■ Bonus: FXTM offer bonuses only under Exinity Limited (Not for European traders, due to regulation)

■ Minimum Account: $10 (Cent Account) | $100 (Standard Account) | $500 (ECN Account)

Visit the FXTM Website

 

ASSET INDEX

ForexTime offer a wide asset index. Check below to the account types table for more information.

□ FXTM offer over 50 popular Forex Currencies

□ CFDs on Indices (over 10 stock indices)

□ Share CFDs

□ Spot Metals (Gold and Silver against USD and EUR)

□ Gold Bullion

□ CFDs on Commodities (Brent, Crude Oil, and Natural Gas) 

 

TRADING PLATFORMS & MOBILE 

FXTM is offering MT4 and MT5 (Desktop and Web versions)

Scalping, Hedging, and Automated Trading are all allowed by  FXTM.

■ A demo account is available at FXTM

FXTM offers Metatrader4 and MetaTrader5 mobile versions for Andoird and iOs (optimized for iPhone and iPad)

■ Over 250 financial assets can be traded via mobile, plus 30 technical indicators, 24 analytical objects, and Market Depth

Trading server: GMT+2

 

NEW ACCOUNT INFORMATION

The minimum initial deposit required for opening an account on FXTM is 10 USD

Account Currencies: EUR, USD, GBP

Inactive accounts for a period of 6 months are charged an inactivity fee of 5 EUR/ USD/ GBP

TRADING ACCOUNT TYPES

In overall, there are six account types (Cent, Standard, Shares, ECN, ECN zero, and ECN Pro)

Here are the major Account Types when trading with FXTM:

  Cent Standard ECN ECN Pro
Min Deposit $10 $100 $500 $25,000
Typical Spread (EURUSD) 1.5 pip 1.3 pip 0.1 pip 0.0 pip
Commissions No No $2/lot commissions No
Limit & Stop Levels 1 x spread 1 x spread No No
Assets 25 Forex pairs, 2 Spot Metals 59 Forex pairs, 5 Spot Metals, 14 Spot CFDs 48 Forex pairs, 3 Spot Metals, 14 Spot CFDs 43 Forex pairs, 2 Spot Metals
Platforms MT4 MT4 MT4/MT5 MT4/MT5
Pricing 5 decimals for FX | 2 decimals for Spot Metals
Account Currencies USD, EUR, GBP
Leverage Flexible (Depends on the country of residence and experience)
Automated Trading Yes
Scalping/Hedging Yes
Info: Find more about FXTM Accounts

 

FXTM DEPOSIT/WITHDRAWAL METHODS

FXTM Fund Methods:

Credit/Debit Cards (Visa / Mastercard / Maestro)

Bank Wire

■ Bitcoin (via Skrill)

MoneyBookers Skrill

■ Neteller

■ QIWI

■ Western Union

■ DotPay

■ Yandex

■ Alfa Click

-Please note that the list of the methods above depends on the FXTM entity and on the Clients Country of Residence.

 

 

FXTM (FOREXTIME) CORPORATE INFO

Exinity Limited is regulated by FSC (Licence C113012295).

 ForexTime Limited is regulated by CySEC (License 185/12)

 ForexTime UK is regulated by the FCA (License 777911)

Headquarters: FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus

 Contact telephone: +357 25 55 8 777

  

FXTM REVIEW PROS & CONS (According to competition)

FXTM REVIEW CONCLUSIONS

FXTM PROS

FXTM CONS

√ A wide range of trading accounts, including ECN and ECN Pro Trading account

√ Regulated group (CySEC, FCA UK, FSC)

√ A wide selection of Forex Currencies and CFD products

√ Many different funding methods

√ Automated Trading and Scalping

√ FXTM Loyalty Program (Available only to traders categorized as Professional Clients,  T&Cs apply)

X Tight spreads only on the ECN Pro Account

X A small fee ($5) for inactive accounts (6 months)

X All trading assets are not available for all account types

 

 

FXTM Review Conclusions

Launched in 2011, ForexTime or else FXTM is headquartered in Cyprus (EU). FXTM brand is authorized and regulated in various jurisdictions. ForexTime Limited is regulated by CySEC (License 185/12), ForexTime UK is regulated by FCA UK (License 777911) and Exinity Limited is regulated by FSC (Licence C113012295).

The FXTM offer six account types, in total. There are three simple accounts (Standard, Cent, and Shares) plus three ECN trading accounts (ECN, ECN-Zero, and ECN-Pro). The ECN Pro offers by far the best trade conditions but with very high minimum deposit requirements ($25,000). The general minimum deposit to open an account is just $10 (cent account) and the minimum for an ECN account is $500. The account currencies include EUR, GBP, or USD. There are many funding methods available by FXTM including Cards (Visa, Maestro, MasterCard), WesternUnion, Wire Transfers, Skrill, and others (depending on the FXTM entity and on the Clients Country of Residence). There is a small fee for inactive accounts (more than 6 months inactive).

The FXTM asset index contains 59 Forex Currencies, over 10 stock indices, shares, spot metals (Gold and Silver against USD and EUR), and energies (Brent, Crude Oil, and Natural Gas). In order to trade all these assets, you need a standard account. The trading leverage is flexible (based on your country of residence and knowledge & experience). As concerns trading platforms, FXTM offers MT4 and MT5 desktop and web-traders. In addition, there are MT4 and MT5 mobile traders for Android and iOs (optimized for iPad). Automated trading, scalping, and hedging are all allowed. The broker offers relatively fair trading conditions. The EURUSD spread starts from 1.6 pip for standard accounts, but it can get considerably lower through an ECN Pro account.

As concerns trading promotions, there is a loyalty program for reducing trading costs (available only to traders categorized as Professional Clients while T&Cs apply). This program works with five levels, depending on your balance, you will be trading according to one of five levels, with the possibility of advancing and having even bigger savings in the future. Overall, FXTM is a safe and fair choice for Forex and CFD trading.

Visit the FXTM Website

 

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