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FXTM Review

FXTM (ForexTime) Review

 

FXTM GENERAL INFORMATION

Found: FXTM was found in 2011

Headquarters: FXTM Markets Inc. has offices in Cyprus, UK, and Belize

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

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

Regulated: FXTM Limited is regulated by CySEC (No 185/12) and FCA (License 777911) -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, Hindi, Indonesian, Malay, Persian, Polish, Thai, Turkish, 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: 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 but note that only the standard account type has access to all financial-traded assets. 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 Energies (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) 1.9 pip 1.6 pip 0.5 pip 0.3 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 30:1 max
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

-No deposit/withdrawal fees

 

FXTM (FOREXTIME) CORPORATE INFO

■ FT Global Limited is regulated by the International Financial Services Commission of Belize (License IFSC/60/345/TS and IFSC/60/345/APM)

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

■ ForexTime UK is regulated by the FCA (License 777911)

Contact address: 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, IFSC)

√ A wide selection of Forex Currencies and CFD products

√ Many different funding methods

√ Automated Trading and Scalping

√ FXTM Loyalty Program (reduces trading cost)

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). The group owns different brands with different licenses. ForexTime Limited is regulated by CySEC (License 185/12) and ForexTime UK is regulated by FCA UK (License 777911).

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. No deposit or withdrawal commissions are charged by FXTM but 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 can be up to 30:1. 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 programme for reducing trading cost. This programme 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. In overall, FXTM is a safe and fair choice for Forex and CFD trading.

Visit the FXTM Website

 

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