FXTM Review, should I open an account

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ForexTime is one of the latest newcomers in the market that have managed to survive in this over-competitive market and fly above the good brokers. We have written this FXTM review so that you can get to know forextime broker better and hopefully start your trading career with FXTM.

As we said before at the beginning of this FXTM review, forexTime is a merely a new forex broker, but with the innovative mind of it’s creative founder, Mr. Andrey Dashin, whom was the creator of Alpari Broker as well, has managed to expand it’s services internationally in a few years. fxtm broker provides it’s traders a vast line of services in different sections, including but not limited to currency pairs, Commodity CFDs, Crude oil, Precious metals and cryptocurrencies. Let’s dig in and find out every little detail there is in this FXTM review.

Is FXTM broker regulated?

This might be the only reason for some people to read this FXTM review, to find out is FXTM Broker Regulated? FXTM is a regulated and licensed broker by the Cyprus Securities Exchange Commission (CySEC) under the Cyprus Investment Firm (CIF) license number #185/12. This means that FXTM complies with all the strict regulatory requirements imposed by CySEC such as having segregated accounts, maintaining adequate liquidity and being transparent with the way it operates. Furthermore, as a CySEC regulated broker, FXTM is a member of the Investors Compensation Scheme.

Due to the restrictions imposed by CySEC on brokers serving clients from outside the European Union (EU), these clients EU are handled by the sister company FT Global Ltd which is based in Belize. The International Financial Services Commission (IFSC) of Belize has also authorized and licensed FXTM as a broker with the license numbers IFSC/60/345/TS and IFSC/60/345/APM.

is fxtm broker regulated

ForexTime has been around since 2011, providing their traders with a peace of mind that it is an authorized and regulated broker. Hence it is not surprising that FXTM has been winning numerous awards since 2013 in recognition of the broker’s outstanding service to the online trading community. In 2016 alone, FXTM has managed to bag different awards from several international finance reviewers. The awards included “2016 Best FX Broker”, “2016 Best Sell-Side Analysis Contributor” and “2016 Top Customer Service Provider”.

FXTM Trading Platforms

One of the hear-warming pros of trading with FXTM, is that FXTM tading platforms are very reliable and fast. They consist of the MetaTrader 4 and MetaTrader 5 trading platforms developed by leading online trading solution provider MetaQuotes Software Ltd.

FXTM Account Types

FXTM is very proud of it’s wide variety accout types. They offer a diversity of choices in every aspect of trading and account types are not exception. The trading accounts can be divided into 2 main types of accounts, standard and ECN accounts.

Standard Accounts

There are 3 types of standard trading accounts:

Cents Accounts

  • Account Currency – USD / EUR / GBP / NGN
  • Leverage – 1:1000
  • Min Deposit – $/€/£ 5, ₦1,000
  • Execution – Instant
  • No Commission
  • Margin Call – 80%
  • Stop Out – 50%
  • Pricing Quotes – 5 decimals
  • 27 instruments types

Standard Account

  • Account Currency – USD / EUR / GBP / NGN
  • Leverage – 1:1000
  • Min Deposit – $/€/£ 100 , ₦20,000
  • Execution – Instant
  • No Commission
  • Margin Call – 80%
  • Stop Out – 50%
  • Pricing Quotes – 5 decimals
  • 76 instruments types

Shares Account

  • Account Currency – USD / EUR / GBP / NGN
  • Leverage – None
  • Min Deposit – $/€/£ 100 , ₦20,000
  • Execution – Instant
  • No Commission
  • Margin Call – 80%
  • Stop Out – 50%
  • Pricing Quotes – 5 decimals
  • 180+ instruments types

ECN Accounts

There are 5 different types of ECN accounts at FXTM. They include the following:

ECN Account

  • Account Currency – USD / EUR / GBP / NGN
  • Leverage – 1:1000
  • Min Deposit – $/€/£ 500, ₦20 000
  • Execution – Market Execution
  • Commission – $2 per lot
  • Margin Call – 80%
  • Stop Out – 50%
  • Pricing Quotes – 5 decimals
  • 62 instruments types

ECN Zero Account

  • Account Currency – USD / EUR / GBP / NGN
  • Leverage – 1:1000
  • Min Deposit – $/€/£ 500, ₦20 000
  • Execution – Market Execution
  • No Commission
  • Margin Call – 80%
  • Stop Out – 50%
  • Pricing Quotes – 5 decimals
  • 66 instruments types

ECN MT5 Account

  • Account Currency – USD / EUR / GBP / NGN
  • Leverage – 1:1000
  • Min Deposit – $/€/£ 500, ₦20 000
  • Execution – Market Execution
  • Commission – $2 per lot
  • Margin Call – 80%
  • Stop Out – 50%
  • Pricing Quotes – 5 decimals
  • 36 instruments types

Strategy Account

  • Account Currency – USD / EUR / GBP
  • Leverage – 1:1000
  • Min Deposit – $/€/£ 100
  • Execution – Market Execution
  • No Commission
  • Margin Call – 80%
  • Stop Out – 50%
  • Pricing Quotes – 5 decimals
  • 57 instruments types

FXTM Pro Account

  • Account Currency – USD / EUR / GBP / NGN
  • Leverage – 1:200
  • Min Deposit -$/€/£ 25,000, ₦5,000,000
  • Execution – Market Execution
  • No Commission
  • Margin Call – 80%
  • Stop Out – 50%
  • Pricing Quotes – 5 decimals
  • 46 instruments types
FXTM additional specifications

As a modern approach to investing and copy-trading, ForexTime Invest is an easy-to-use program that brings traders and investors closer to the markets. The company holds true to its core value of transparency by publishing important trading stats on their website: speed of order execution, slippage and requotes levels. Additional information feeds, educational materials, charting tools, and free-flowing commentary make your trading experience ideal and its customer support department is top of the line. Also, if you like contests and promotions or social trading, ForexTime does not disappoint.

In truth, it is still difficult to find any area of FXTM that’s lacking. They have shown tremendous progress over past couple of years and, if you reside in one of their covered markets, they are well worth your patronage.

Why should I trade with FXTM Broker?

It’s a very common question to ask while reading this fxtm review, Why should I trade with FXTM Broker? The firm lists these reasons:

  • A management team with a combined 30 years of experience, committed to quality service;
  • Brand ForexTime is regulated in multiple jurisdictions (ForexTime Ltd by CySEC 185/12, FT Global by IFSC under numbers IFSC/60/345/TS and IFSC/60/345/APM);  
  • Mobile trading applications are supported (including ForexTime App for iOS and Android devices);
  • 245+ trading instruments including forex currency pairs, CFDs, Futures, ETFs, Precious Metals and Commodities;
  • 31+ payment options currently available with no deposit fees and minimum deposits as low as $5;
  • Deep bank liquidity ensures tight trading spreads and superfast execution;
  • Hedging, EAs, and scalping strategies permitted;
  • No Dealing Desk standard adopted, with eight classifications built on full ECN/STP trading models for professional accounts. Swap-free option available for all account types;
  • A direct connection to the products’ price listing on the NYSE and NASDAQ exchanges for the Shares Account;
  • Customer service representatives are multi-lingual and may be accessed “24X7” by email, live chat, or direct telephone line to one of several satellite offices;
  • 18+ languages are supported, and more are added to the site and MyForexTime, the trader’s gateway.
  • Promotions and live and demo contests on a regular basis;·        
  • Learning center support includes streaming news feeds, commentary, webinars, educational videos, free training courses and local seminars;
  • Two investment programs offered: the traditional PAMM and the latest copy-trading solution, ForexTime Invest;
  • Social trading features, trading signal subscription option, charting tools, email and mobile alerts, and streaming news feeds are included in the basic package;
  • Client funds segregated in Tier-One banks at all times for protection, in strict compliance with regulatory standards;
  • ForexTime Limited Does NOT accept Traders from US, Japan, British Colombia, Saskatchewan or Quebec.

FXTM Spreads and Leverage

Tight spreads are the norm whether on STP or ECN setups. With the FXTM Pro Account, spreads start at the tightest possible 0 pips. Leverage can go up to as high as 1000:1. FXTM offers negative balance protection.

FXTM Deposits and Withdrawals

ForexTime has also installed a broad series of options to make deposits and withdrawals an easy process. Credit and debit cards, along with bank wires and e-wallets, are the signature methods, but the team – due to the global nature of the firm – has implemented numerous other local payment methods specific for particular regions. More payment methods are being added on a monthly basis, with thirty one on last count. Clients are cautioned to keep legally required ID data on file to ensure a rapid response on any withdrawal request.

All in all, in this fxtm review we have concluded that with so many things going for it, FXTM is very worthy of your time and consideration.

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