FXTM (also known as ForexTime) broker is licensed and regulated in several jurisdictions. FXTM offers numerous payment methods, trades in every currency pair, tight spreads, and a broad range of financial items and derivatives. The minimum deposit requirement is 10 US dollars.
FT Global Ltd and ForexTime Ltd own and regulate FXTM, with headquarters in Limassol, Cyprus. Famous as the founder of a web-based dealer Alpari, Andrey Dashin, 2011, developed FXTM. The organization has made itself an international dealing contender within a few years of coming into the business, successfully employing the formula of Dashin.
FXTM – Regulation and Licenses
FXTM has an official website www.forextime.com. Following is a snapshot of its home page. Regarding regulations, United Kingdom’s FCA registers ForexTime Ltd under registration # 600475.
It is licensed for providing the given services to the users: trading in commodity and financial dependent derivatives and other securities, as well as managing and protecting international assets. CySec regulates ForexTime Ltd with license # 185/12.
Also, it’s a member of the ICF (Investor Compensation Fund). ForexTime has been accepted for the regulatory license of Mauritius on 22nd March 2019 at the FSC.
FSCA of South Africa also registers and grants a license to the organization under license # 46614.
Moreover, the International Financial Services Commission (IFSC) has granted a license to FT Global Ltd in Belize with license # IFSC/60/345/APM and IFSC/60/345/TS.
One more organization linked with the ForexTime brand is Exinity Ltd. It’s based in Mauritius, and FSC grants a license to it. The Investment Dealer license # is C113012295.
Corporate Operations
Since FXTM’s establishment, it has been growing continuously. To keep up with its evolving business, the organization has opened many branches in big cities such as London and is operated from 5 story building of FXTM situated in Cyprus.
Moreover, it possesses representative offices in Nigeria, India, Malaysia, South Korea, Thailand, China, Turkey, Italy, Spain, France, Poland, and Germany.
Keep in mind that presently, traders from the US, Saskatchewan, British Columbia, Quebec, Japan, and Belize are not being accepted by ForexTime.
Features of FXTM
Full-service trade experience is offered by FXTM regardless of whether you are a novice or experienced trader. A trader can figure out what he is looking for on the organization’s user-friendly website that is accessible in 18 languages.
Trading support, as well as technical and educational support, is offered 24/5 by ForexTime to aid the users in enhancing their skills as a trader by assisting them in analyzing avoidable mistakes.
ForexTime provides access to competitive markets in big forex currency pairs and a broad diversity of financial derivatives and products offered to clients like ETFs, spot metals, commodity futures, etc. Trading of spot metals and the Chinese Yuan (paired with significant currencies) is also accessible.
PAMM (Percentage Allocation Money Management) – It also enables the traders to maximize the worth of time while boosting their portfolios via PAMM (Percentage Allocation Money Management) scheme. In 2008, PAMM was established at Alpari.
Investor professional portfolio management is offered by it the FXTM Portfolio Management Department. The allocation of portfolios is done by choosing crucially screened traders with a successful uniform history.
ECN Trading – Tight spreads are one of the prime selling points of FXTM, and its dealing spreads are 0.1 and o pip for standard and ECN-based trade accounts. Though spreads are usually minimal, a commission of 4 dollars per lot is required by ECN accounts when entering and exiting a position.
FXTM Account Types
FXTM offers three significant kinds of Forex trading accounts without any maximum o minimum deposit and commission. In Standard Spread Account, maximum leverage of 1:1,00 is allowed to the trader in USD/EUR.
In the Fixed Spread Account, the maximum leverage of 1:100 is permitted. And in Cent Accounts, leverage of 1:1,00 is offered for currencies, and for spot metal, it is 1:25.
Also, three kinds of ECN accounts are offered by FXTM. These are an ECN Zero account, ECN MetaTrader 5 account, and an ECN XTM account. Each of them has different spreads or commissions. Moreover, a swap-free account called FXTM also offers an Amanah Account for Muslim traders that follow Sharia law.
CFDs and Stocks Trading – Starting in April 2016, the latest addition in FXTM accounts is one with a specialization in CFDs on Stocks. Trading in more than 180 US organizations is offered by this FXTM Shares Account, having 1:30 leverage, and is accessible via the MetaTrader 4 platform by assuring digitally instant execution of the deal.
Trading in organizations’ shares like Apple, Facebook, Alibaba, Twitter, Microsoft, etc., are accessible via this new type of account, i.e., Shares Account.
Deposits and Withdrawals
Opening a trading account on ForexTime.com is very easy, and a trader can have their account accepted in a single day by following some easy-registration steps and certain essential documents.
FXTM provides a broad range of deposit and withdrawal methods to its users. It includes master card, Visa card, Maestro, China Union pay credit cards, Skrill, Neteller, Webmoney, Payza, Yandex Money, Dotpay, Alfa-Click, QIWI, and Western Union’s QuickPay. It also offers bank wire transfers.
Regarding withdrawals, the user has to fill out a standard request, which is usually processed in 2 business days and does not require any minimum withdrawal amount. The only restraint is that funds should be transferred to an account having the same name as the FXTM account user.
Trading Platforms and Tools
FXTM offers the choice of employing MetaTrader 4 and MetaTrader 5 with your account and provides its proprietary MetaTrader 4 WebTrader platform to its users.
This online platform does not require any download and can be accessed directly from browsers. Every operating system is supported by the WebTrader platform and possesses a user-friendly interface that can be translated into sixteen distinct languages.
WebTrader Platform – It allows one-click trading that enables the users to make transactions using a single press along with nine chart time frames with trade accessible directly from the charts.
MetaTrader 4 (MT4) Platform – The online platform, based on MetaTrader 4, possesses the latest analysis tool and can be employed in a demo and a live account.
A snapshot of FXTM’s proprietary MetaTrader 4 WebTrader page is shown below with live market pricing, widgets for technical and fundamental analysis, and deal executions.
FXTM also offers the feature of conducting copy trading on MT4 and MT5. A broad range of trading signals can be accessed by traders to which they can subscribe through the copy trading feature. After subscription, all the trades executed by the signal supplier can be copied in an automated manner. Through this Copy Trading (Social Trading), even beginners can start trading like professionals.
Assets Portfolio
Additionally to FX pairs, which are the source of income for dealers, a chain of CFDs, dependent upon multiple other assets, is also offered by ForexTime.
So, CFDs on various commodities, shares, and indices are supported by FXTM. It also offers spot metal for trading. In the case of Commodities, FXTM offers Natural Gas, Brent Oil, and Crude Oil.
Broker Commissions and Fees
FXTM charges no commission on Standard Trading Accounts. Instead, it earns money through spreads. The spreads range from 0.1 to 1.5 pips, based upon the kind of account.
ECN Account charges only a commission of 2 dollars per lot, and its spreads start from 0.1 pips.
The FXTM Pro account charges no commission, and its spreads start from 0.0 pips.
Research and Education
FXTM’s website also contains a comprehensive educational portion. This portion includes multiple Beginner’s Guides, Short Education Videos, Education Videos, webinars, seminars, and informative articles.
Moreover, a Forex Glossary and a Periodic Table are also present in this portion.
Trader Support
24/7 telephone support is offered by client support of FXTM for the traders closing out or modifying their positions with their trading desks from Monday to Friday. It also provides a 24/7 email support service and a real-time chat and hotline feature with limited business hours from Monday to Friday 02:00 to 20:30 GMT +2.
Moreover, a broad range of educational support is also offered by FXTM, including articles, tutorials, videos, seminars, webinars, an education center, and a forex glossary.
FXTM Mobile Trading App
FXTM offers standard MetaTrader 4 mobile applications for iOS and Android-based devices. These applications possess almost all of the features provided by the full and downloadable version of MetaTrader 4. Also, nine-time frames are supported by it. It comes with thirty pre-installed technical indicators.
Mobile charting is also outstanding, and these applications also support live quotes.
To Trade or Not to Trade
ForexTime seems to offer an outstanding service to its users. The organization’s management team appears to have a good knowledge of traders’ requirements and knows how to please its users.
The organization also has a list of outstanding awards and an extensive list of propitious testimonials. Considering the above, FXTM must be regarded seriously as a web-based forex dealer.
FAQ:
Is FXTM legal?
FXTM is a legal web-based dealer delivering what it promises to deliver. How much the users acknowledge its services is a different question.
Established in 2011, FXTM calls itself a worldwide leader with pride in web-based trading. It has over twenty-five industry awards under its belt. Users’ funds are kept in separate bank accounts, and their regulatory status is also functional.
The services of ForexTime are used by over two million users globally.
So, it is acceptable to say that ForexTime is as legal as a web-based dealer.
Is FXTM a quality dealer?
The answer to this question is always tricky, and it is because what is suitable for some users might not be right for others. Thus, user review is the best way to evaluate the quality or worth of a dealer.
Regarding FXTM, the reviews are very different and diverse. Certain review aggregators regard the dealer as “Excellent.” While others barely let it cross the passing score.
What do clients appreciate in FXTM?
- The demo account is well-known among novice traders.
- Quick and trustable deposits and withdrawals.
- Specific appears to acknowledge the hard work of the support team.
- The platforms and websites are convenient and straightforward to access.
What do traders dislike?
- They may block accounts without any reason.
- Denied withdrawals.
- Manipulation of spreads and stop-loss hunting.
- Inadequate client support and unattractive trade requirements.
Please consider that some traders suffer money loss via dealers such as FXTM. Most likely, they are behind some of the pessimistic reviews.
What is the minimum deposit for FXTM (ForexTime.com)?
At FXTM, the minimum required deposit is dependent upon the kind of account the user preferences.
The minimal deposit for a Standard account is 100 USD/EUR/GBP. The same is the case with the Shares account, as stated by the FXTM website.
The minimal deposit on a Cent account is only 10 GBP/USD/EUR.
Is FXTM Regulated?
FXTM holds a comprehensive regulatory history. Cyprus is the home base for the dealer.
- CySEC regulates it in Cyprus under CIR license # 185/12.
- In South Africa, FSCA grants license under license # FSP 46614.
- Another entity behind FXTM is ForexTime UK Limited, licensed by FCA of the United Kingdom under license # 777911.
- Exinity Limited is situated in the Republic of Mauritius and is licensed by FSC under license # C113012295.
Where is FXTM located?
The organizations operating under FXTM manage individual offices. However, its main headquarters is in Cyprus at FXTM Tower, 25 Lamprou Konstantara, Kato Polemidia, 4156, Limassol.
