FXTM Review
FXTM is a well-established broker since 2011. FXTM has headquarters in Mauritius, Cyprus, United Kingdom, South Africa and Kenya. FXTM to provide their Forex/CFD trading services to over 4 million clients.
This broker has also been regulated by FSC (Mauritius) C113012295, CySEC 185/12, FCA (UK) 777911, FSCA (South Africa) 46614 and Capital Markets Authority of Kenya 135.
Major Information
💲 Min Deposit $10
⚖ Max Leverage 1:2000
💡 Min Position 0.01 lot
🌐 Website www.forextime.com
⌛ Year Established 2011
4.03/5
Extensive Review
FXTM was initially launched in 2011 with a unique vision to provide unparalleled superior trading conditions. Opening an account in FXTM would also bring about access to advanced education and sophisticated trading tools in the forex industry.
Now, FXTM is registered under the Financial Conduct Authority of the UK with the number 600475. The company is also regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, and is licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614
FXTM has 1 million registered accounts with more traders joining every day. The company continually tries to improve their performance and have got many awards such as Best Trading Experience 2019 by World Finance Awards, Best Online Forex Trading Company Nigeria 2018 by International Finance Awards, Reputable Investor Education Forex Broker Award 2018 by Hexun.com, Forex Brand Of The Year China 2018 by Fxeye.Com, and many more.
As a responsible broker, they determine leverage (expressed as a ratio of transaction size relative to trader's buying power) according to the trader's level of knowledge and experience in trading, which is evaluated by the Appropriateness Assessment. The company also enables trading with leverage up to 1:1000.
As for spreads, FXTM offers low spreads starting from 0.1 pip, so traders can withdraw profits at the start of trading. The company, which has headquarters in several countries, uses No Dealing Desk (NDD) technology and partners with credible liquidity providers to provide the best bid and ask prices.
For beginners, there is an automatic trading facility called algorithmic trading provided. When trading in FXTM, traders can develop their trading strategy or adopt other traders' strategies. Furthermore, the strategy is applied to automated trading systems, such as Expert Advisors. The purpose of this system is traders do not have to worry about losing opportunities while not observing the market so that profits can still be earned.
Three types of ECN accounts use the MT4 and MT5 trading platforms. There are also mobile and Tablet Apps trading platforms. Aside of providing many account variants, FXTM goes above and beyond to ensure that their client receives excellent support that they deserve, making their trading experience optimal and user-friendly.
FXTM also provides a diverse range of products. In addition to over 50 currency pairs, they provide gold, silver, CFD on commodity futures (oil), CFD on ETFs, and indices.
Education about the basic concepts of the forex industry is also accessible in this broker. Traders can read all the concepts provided in the form of e-books, video tutorials, articles, webinars, and forex seminars. There are 17 languages provided on the FXTM website to make it easier for traders to learn about forex.
Traders are also given various choices for payment methods, including Credit Cards (Visa, Mastercard, Maestro) and E-Wallet (Neteller, Skrill, Western Union). For withdrawing funds, traders are not charged a fee with a length of 2 hours to 2 days. Traders can live chat to ask further questions and contact the admin via email. There is also a question and answer page about forex trading on FXTM.
Company Information
Features
💰 Bonuses
🏆 Trading contests
📁 Segregated accounts
📖 Free education
Account Information
Apart from the forex demo account, this broker offers FXTM ECN, Standard, Cent, ECN Zero, FXTM Pro and ECN. To successfully navigate your trading account, you also need to consider about leverage and minimum deposit. Talking about leverage in general, the maximum leverage offered by FXTM is up to 1: 2000. Meanwhile, you can open an account with a starting capital of $10.
Min Deposit
$10
Max Leverage
1:2000
Spread
Variable and Fixed
Commission
$2
If you want to look for a more simple explanation regarding this broker's account type(s), take a look at the following chart:
💲 Min Deposit $500
💡 Min Position 0.01 lot
🔢 Spread Variable
📉 Scalping
🤖 Expert Advisors
💱 Hedging
🕛 Overnight interest rates (swaps)
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
💸 Commission $2
Instruments Traded
Besides lots of currency pair, FXTM also offers some instruments you would like to trade on, such as Forex, Gold & silver, CFD, Oil and Futures for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
As for FXTM ECN account, FXTM specifically provides it with the following instruments and leverage:
💲 Min Deposit $100
💡 Min Position 0.01 lot
🔢 Spread Variable
📉 Scalping
🤖 Expert Advisors
💱 Hedging
🕛 Overnight interest rates (swaps)
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
💸 Commission
Instruments Traded
Besides lots of currency pair, FXTM also offers some instruments you would like to trade on, such as Forex, Gold & silver, CFD, Oil, Futures and Crypto for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
As for Standard account, FXTM specifically provides it with the following instruments and leverage:
💲 Min Deposit $10
💡 Min Position 0.01 lot
🔢 Spread Fixed
📉 Scalping
🤖 Expert Advisors
💱 Hedging
🕛 Overnight interest rates (swaps)
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
💸 Commission
Instruments Traded
Besides lots of currency pair, FXTM also offers some instruments you would like to trade on, such as Forex, Gold & silver, CFD, Oil and Futures for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
As for Cent account, FXTM specifically provides it with the following instruments and leverage:
💲 Min Deposit $200
💡 Min Position 0.01 lot
🔢 Spread Variable
📉 Scalping
🤖 Expert Advisors
💱 Hedging
🕛 Overnight interest rates (swaps)
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
💸 Commission
Instruments Traded
Besides lots of currency pair, FXTM also offers some instruments you would like to trade on, such as Forex for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
As for ECN Zero account, FXTM specifically provides it with the following instruments and leverage:
Forex
1:2000
💲 Min Deposit $25000
💡 Min Position 0.01 lot
🔢 Spread Variable
📉 Scalping
🤖 Expert Advisors
💱 Hedging
🕛 Overnight interest rates (swaps)
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
💸 Commission
Instruments Traded
Besides lots of currency pair, FXTM also offers some instruments you would like to trade on, such as Forex, Gold & silver and CFD for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
As for FXTM Pro account, FXTM specifically provides it with the following instruments and leverage:
💲 Min Deposit $500
💡 Min Position 0.01 lot
🔢 Spread Variable
📉 Scalping
🤖 Expert Advisors
⏱ Trailing stop
⏳ Pending orders
1️⃣ One-click trading
💸 Commission $2
Instruments Traded
Besides lots of currency pair, FXTM also offers some instruments you would like to trade on, such as Forex and Gold & silver for your best choice. Somehow, remember that different instrument has different trading conditions. In this case, you have to make sure that your strategy is well suited for the instrument you chose.
As for ECN account, FXTM specifically provides it with the following instruments and leverage:
Forex
1:2000
Gold & silver
1:500
Payment Methods
WebMoney : WebMoney is one of the major online wallet services which many people use to send money around the world. For this reason, there is a large number of forex brokers that accept WebMoney today. Like other online payment services today, WebMoney is supported by mobile applications to make transactions more efficient.
Wire transfer : Wire Transfer is the most commonly used payment method. Nearly all brokers in the world provide this method on their service. The reason is wire transfer is basically traditional transfer between banks in the worldwide. So, this method is guaranteed for its safety. This really helps traders who avoid third-party payments or don't have credit cards.
Skrill : Mostly, all forex brokers provide Skrill as an online payment service option. Fast, easy, and safe transactions are the main reasons why traders using this method. Traders can use Skrill to fund their trading accounts with either payment cards, bank wire transfers, or directly from a Skrill e-wallet account.
QIWI : Qiwi is an e-wallet or electronic payment service provider from Rusia that is introduced in 2007. The service is mainly used by individuals and businesses in Russia, Ukraine, Kazakhstan, Moldova, Belarus, Romania, the US, and the UAE.
Neteller : Like PayPal, Neteller is one of the most popular online payment services today. Due to this popularity, nearly all forex brokers accept Neteller as a payment method for their clients' fund deposit and withdrawal. Although the Neteller system is available almost all over the world, it remains particularly popular in Europe.
FasaPay : Known as an e-payment for retail forex traders, FasaPay does not require a huge amount of fee, giving it a competitive edge among any other e-payments in the forex brokerage industry. Instant process is also featured as one of its advantages.
FXTM also provides payment with YooMoney, UnionPay, Perfect Money, Google Pay, DIXIPAY, Crypto and Credit/debit cards
Trading Platforms
Trading platform is a tool where you can buy or trade an instrument with only some clicks on your device, anytime and anywhere you want. In addition, price chart is also usually provided with some analytical tools to help you analyze the price movement, so you can increase your profitabiliy by placing well-planned trades.
Hereby, FXTM offers you MetaTrader 4 (Limited with 60 days) and MetaTrader 5 (Limited with 30 days).
Customer Support
Do you have any question or find any trouble related to FXTM? If you do, you should reach FXTM's support to get the information that you need. Here is the detail of the broker's customer support:
Website Languages
Office Support
Email Support
Call Support
Chat Support
FAQ About FXTM
A good broker constitutes a good service for traders in terms of many criteria including trading instruments, deposits and withdrawals, as well as customer support. What is good for a certain trader does not necessarily mean the same thing to you. So the term "a good broker" can vary in meaning. You can decide for yourself if FXTM is a good broker for you or not by reviewing the criteria. In general, FXTM provides trading service in Forex , Gold & silver , CFD , Oil , Futures and Crypto . As for the payment methods, you can choose between WebMoney, Skrill, Wire transfer, Credit/debit cards, YooMoney, Neteller, UnionPay, QIWI, Perfect Money, DIXIPAY, FasaPay, Crypto and Google Pay. The customer support is available via Email, Web form, Phone, Callback, Live chat and Office.
The starting capital in FXTM is $10.
FXTM is regulated by FSC (Mauritius) C113012295, CySEC 185/12, FCA (UK) 777911, FSCA (South Africa) 46614 and Capital Markets Authority of Kenya 135. A regulated broker equals a more responsible trading environment. You can also expect a more guaranteed safety of funds as some of regulatory frameworks in the financial industry require a compensation scheme in case of unprecedented incidents that result in clients' financial losses.
FXTM is a brokerage company offering trading services for clients since 2011 with offices in Mauritius, Cyprus, United Kingdom, South Africa and Kenya.
Account Number: (2777849xxx)
Dec 22 2022
Account Number: (15643xxx)
Nov 24 2021
Jan 27 2022
Jan 10 2022
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