FXTM, also known as “ForexTime”, is a Forex / CFDs Brokerage firm. The broker was founded in 2011 and has developed its technology in recent years to become one of the best trading environments for both beginners and experts. The headquarters are located in the United Kingdom, Cyprus, and Mauritius.
With ForexTime, you can trade on Forex, precious metals such as gold, silver, crude oil, and natural gas. You can also trade CFDs, cryptocurrencies, and major US stocks.
FXTM Regulations
The FXTM is regulated by high-level financial authorities.
- The UK Financial Conduct Authority (FCA)
- The Cyprus Securities and Exchange Commission (CySEC)
- The Financial Sector Conduct Authority (FSCA) of South Africa
- The Financial Services Commission (FSC) of the Republic of Mauritius
Opening FXTM Trading Account
You can easily open an FXTM trading account with as low as $10 for cent trading accounts, $100 for Standard and Shares trading accounts, and $500 for ECN trading Accounts.
FXTM does not support clients from The United States of America and Japan.
You can choose from a wide range of trading accounts types offered by FXTM. Will provide detailed information for every single one of them. Also, FXTM does support Islamic Trading accounts. FXTM offers a variety of trading accounts to suit everyone.
- Standard accounts include a standard account, a CENT account (with a micro lot), and an equity account.
- ECN accounts include the ECN MT4 account, the ECN MT5 account, and the ECN ZERO account.
- In addition to the ECN Manager Account, there are FXTM Pro, FXTM Pro MT5, and ECN Zero MT5.
- Standard accounts work with MetaTrader 4. They include competitive spreads, leverage of 1: 1,000, instant execution, hedging, SWAP-free option, and no hidden commissions. These accounts can be in USD, EUR, GBP, or NGN.
- Cent accounts also have instant execution, competitive spreads, and a SWAP-free option and work with MT4. It is available in EUR, GB pence, USD, or NGN kobo. They feature Cent Lots and only have a minimum deposit of $ 10.
- Stock accounts also use MT4 and have a SWAP-free option and instant execution. Hedging is permitted, and there are no commissions. The leverage is fixed at 1:10, and this account gives access to more than 180 US stocks. The account is available in USD, EUR, GBP, or NGN.
FXTM has a competitive fee structure compared to other brokers in the world of financial market trading. FXTM offers several trading accounts, and these accounts come with different fee structures. For example, the ECN account comes with lower spreads but charges a flat fee per trade volume of $ 100,000. FXTM’s fees on Forex are meager and competitive.
Here are the steps you need to open an FXTM trading account,
- Fill in your email address, name, and country of residence. your phone number to get a PIN code
- Add more personal information, such as date of birth and level of education
- your current address
- Fill out a questionnaire about your financial knowledge
- Select the trading account type
- Verify your identity and residency by uploading a copy of your passport / ID/driver’s license or a bank statement
Deposit & Withdraw & Fees
FXTM does not charge any fees for deposits and withdrawals. The minimum deposit starts at 10 USD only and depends on the type of your trading account.
FXTM does support a wide range of payment methods. You can easily deposit your funds via,
- Bank transfer
- Credit/debit cards
- Skrill
- Neteller
- WesternUnion
- Bitcoin
- QuickPay
- Qiwi
- Alfa-Click
- Yandex Money
- VLOAD,
- WebMoney
- Perfectmoney
- Fasapay
- TC Payment
- GlobePay
- Ngangluong
- DixiPay
- DusuPay
- CashU
- Connexion
FXTM Spread Information
FXTM has a competitive fee structure compared to other brokers in the industry. FXTM offers several trading accounts and these accounts come with a different fee structure. For example, the ECN account comes with low spreads but charges a flat fee for each trading volume of $ 100,000.
FXTM fees on Forex are very low and competitive.
Looking at the currency pair EUR / USD, the spread comes with 2.0 pips with the standard trading account with a minimum deposit of 10 USD. The spread can drop to 0.8 pips if you open an ECN trading account, which is a very competitive rate, knowing that the minimum deposit here is $ 500.
FXTM User Experience
Let’s talk about the FXTM trading environment here, and does the broker offer a simple and flexible trading environment? If you are already a trader in the markets and used to performing MT4 to execute trades and follow the market up-to-date, The FXTM provides MT4 in its original version without any additions.
FXTM Invest is a unique feature offered by the company so that you can easily open a trading account and copy trades from whoever investor you see matches your strategy. FXTM strategy managers are over 600 to choose from. They usually take percent from the net profit and taken directly from your trading account. Make sure to check the percentage first on the manager profile before proceeding with the copy trading solution.
FXTM Customer Support
FXTM provides its clients with customer support to answer any inquiries you may have. You can reach technical support by just a phone call, live chat, or browse their blog and the FAQs, where you can find and look for whatever you want. you can choose your native language to communicate from among the languages supported by FXTM. This makes it relatively easier to explain your questions.
The service is available 24/5 from Monday to Friday during the global markets hours. The languages supported by FXTM are English, Greek, Chinese, Malay, Indonesian, Russian, French, Spanish, Italian, Polish, Hindi, Arabic, Korean, Persian, Urdu, Hindi, Vietnamese, Czech.
FXTM Review – Final Thoughts
Let’s brief our review for FXTM. The broker is regulated by high-level financial authorities such as,
- The UK Financial Conduct Authority (FCA)
- The Cyprus Securities and Exchange Commission (CySEC)
- The Financial Sector Conduct Authority (FSCA) of South Africa
- The Financial Services Commission (FSC) of the Republic of Mauritius
The FXTM’s fee structure is competitive compared to other brokers in the industry. The copy trading feature is one of the company’s strongest features that enables you to open a trading account and choose the investor or trader whose strategy matches your investment goal and just to copy the trades. The broker also has great customer support service along with excellent educational content. You can open a demo account and try their trading environment.
