FXTM — Forex Broker Reviews

Overview

FXTM (ForexTime) is an international broker providing services to both individuals and legal entities. The organization specializes in trading precious metals, currency and CFD’s such as stocks, treasuries, shares, indices and commodities. Those that are interested can also invest in trust management. Representative offices are open worldwide. The FXTM website is available in eighteen languages.

Trading Platforms

FXTM clients are provided with the opportunity to trade with more than a few hundred different assets. You can work with them on the following platforms:

  • MT4. A convenient terminal containing several dozen technical indicators with the ability to add your own tools. The program can be used for automated trading. In addition to the version for the personal computer, there are also applications for MAC, iOS and Android.

  • MT5. A multifunctional platform that provides direct access to liquidity providers through ECN and STP technologies. The platform provides a large selection of tools for trading and analyzing. For those who wish to trade outside the office or apartment, they can download the application for MAC, iOS and Android.

  • WebTrader. An online service that does not require additional software to work with. All you need for this one is a browser and internet. This platform is adapted to all popular operating systems. Simple, user-friendly interface, modern, and comes with a diverse toolkit.

Account Types

FXTM has two main Forex trading accounts that you can choose between. The Standard and ECN account types. The minimum deposit for a standard account is 100 dollars, euros, or pounds. These three currencies are the base currencies for FXTM. The spread for standard account is 1.3 points, the leverage can reach 1:100. In addition to the standard account, you can also open one of the following ECN accounts:

  • • Zero – the minimum deposit is $200, the spread is from 0.5, the leverage is from 1:25 to 1:1000, trading in metals and currency.

  • • ECN – the minimum deposit is $500, the spread is from 0.1, the leverage is from 1:25 to 1:500, trading in metals and currency.

  • • ECN MT5 – the minimum deposit is $500, the spread is from 0.1, the leverage from 1:25 to 1:500, trading in metals and currency. In addition, the user gets access to the deeper parts of the market, thereby gaining access to exclusive information that is unknown to ordinary traders.

For traders that are extra committed and willing to invest more money into the game, FXTM Pro accounts can be opened. To open such an account, you will need to make a deposit of $25,000. In return, traders receive benefits such as deep liquidity directly from suppliers, narrow spreads (from 0), the absence of any commissions and the ability to implement any trading strategy.

Deposits and Withdrawals

FXTM accepts deposits from credit and debit cards, wire transfers, and various electronic wallets such as Skrill, CashU, WebMoney, Neteller and many more.

Customer Support

Should the need arise, customer support at FXTM can be reached via a multitude of methods such as Skype, Viber, Telegram, Facebook, WhatsApp, or the built in chat. Alternatively, you can give them a call. The website is also accessible in 18 languages, making it accessible to a wide array of clients.

Bonuses and Promotions

FXTM is host to quite a few promotions, but they are all essentially regionally tied. Most of their promotions offer you a 30% bonus on your deposit, but this is usually capped at a certain point, meaning someone making a deposit of $500 will get the same bonus as someone depositing $2000. Moreover, many countries are not even eligible for bonuses.

Summary

FXTM is an all-round good option that should be good enough for most traders. The site is relatively easy to navigate and the customer support team seems to know what they are doing. While there might be some hiccups with the bonuses and promotions department, FXTM can be considered as a legitimate option for beginners and veterans alike.

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Comments

4 FXTM is alright. Just start with a demo account and move on to real money after you get the hang of things. Everything you may possibly need you will find here. It’s a matter of your knowledge and experience that will play the determining role in your level of success here.
4 Decided to follow in my husband’s footsteps and surprise him by buying him a present with the money I were to earn with FXTM. Quickly I realized though, that my $400 investment would not double in a few days, but rather halve itself. After a week of stress and trying to figure a way out, I decided to withdraw the little money that remained and buy something on a budget 3x less than I expected. Even then, I started experiencing troubles seemingly out of nowhere. All of a sudden my card has issues, reaching the support team is infinitely more complex. I feel purposely ignored and forgotten, and I can’t even withdraw my money.
5 I was convinced by a friend that I should give forex a go and try out my luck. What he failed to mention was the level of complexity behind it. I tried to give the educational material on the site a go, but apparently it wasn’t enough, or maybe I'm just pretending to understand it.
5 It gets the essentials right. The spreads are great, and execution time seems to be instantaneous most of the time. I experience issues with the platform at certain times, minor freezes that cost me a lot of money one time, but other than that I am satisfied with FXTM.
5 How to lose money with FXTM: register an ECN account with a $500 deposit. Earn 60$ over the next two weeks and assume it's time to move up a level and start making more money. Follow the advice you received from a support team member. Lose everything in a span of 30 mins.
5 3 days and $250 later, I understood that this whole forex deal is a lot more complex than I was told. Thinking I could count on luck to trade was idiotic of me. So far my losses outweigh my earning by a lot, but I am patient and willing to learn. Hopefully this can become a legit secondary source of income for me in the near future.
5 Don’t make the same mistake as me and start with a demo account. I lost all of my first deposit in about 1 hour. First learn, then trade. I enjoyed the process though, so I will try again soon enough. Maybe with a different broker.
5 FXTM has everything you need as a broker. The trading conditions are acceptable and the spreads are fine. There aren't any complications with withdrawing, at least for me. Don't pretend to be an expert and start out slow and steady. Ideally, start with a demo account.
4 I'm on my 6th week of trading and so far the sailing has been smooth. I've just withdrawn my first earnings, and had no issues doing so. The money arrived 2 days after my request was made. I would prefer that there be more flexibility in terms of customization, since I have a few personal requirements that few brokers' platforms provide. Other than that, I am planning on continuing trading with FXTM.
5 FXTM is my first and hopefully the last broker. Everything I was looking out for can be found here. I never have trouble with withdrawals or reaching the support team. Suggest using the ECN MT5 account for maximum efficiency and profit.

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