FXTM — Forex Broker Reviews

10 reviews.

Avarage rating: 3.7 / 5

Cyprus, CySEC

Site: forextime.com

Founded in 2011, FXTM (ForexTime) is an international broker providing services to both individuals and legal entities. Within a few years, FXTM managed to claim several industry awards such as “Best Newcomers 2013” and “Fastest Growing Forex Broker”. 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.

Who is FXTM regulated by?

FXTM is under regulation by various jurisdictions such as CySEC, IFSC, Forextime UK Limited and is authorized by FCA and FT Global Limited. The main offices are in the UK, Cyprus and Belize, with representative offices open worldwide.

Regulated by: CySEC, IFSC
Headquarters: United Kingdom
Foundation: 2011

Where and how does it operate?

Offering a safe and secure trading environment, FXTM covers more than 250 different instruments that range from CFD’s, spot metals, and shares to currencies, commodities, and cryptocurrencies. As a client-oriented broker, FXTM focuses on delivering products and services that meet every need the client encounters across the different markets they serve. With more than 30 different forms of payment available and professional multilingual staff on hand 24/7, FXTM strives to provide some of the best service in the industry. 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.

Good variety of platforms
250+ financial instruments

What are the account types?

  • Standard Account

    Minimum deposit: $100
    Leverage: Floating, from 1:1000 – 1:25
    Spread: from 1.3 points
    Minimum lot: 0.01 (1,000 base currency units)

  • Cent Account

    Minimum deposit: $5
    Leverage: Fixed, from 1:100 – 1:25
    Spread: from 1.5 points
    Minimum lot: 0.01 (1,000 base currency units)

  • Shares Account

    Minimum deposit: $100
    Leverage: 3%-10% (depending on symbol)
    Spread: from 0.1 points
    Minimum lot: 0.01 (1,000 base currency units)

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.

In addition, for beginners wishing to get a grasp on the game and learn to trade by way of trial and error without losing any personal funds in the process, demo accounts are available to use.

Low entry point
Decent trading conditions

How to Delete FXTM account?

After requesting to withdraw all your funds, choose the I’d like to withdraw all funds and close the account option and click ‘Submit’.

To see the list of closed accounts, follow the steps below.

Go to the Account Overview page

Scroll down to the My Investment Accounts section

Click on the blue Archive link on the top right.

As long as you are a client of FXTM, you can always activate the archived accounts and start your investment again.

Are there any bonuses or 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.

How do I deposit and withdraw?

FXTM accepts deposits from credit and debit cards, wire transfers, and various electronic wallets such as Skrill, CashU, WebMoney, Neteller and many more. Withdrawals are initiated by contacting the back office during standard business hours: 07:00 – 20:00 (GMT+2).

Conclusion

FXTM is an all-around good option that should satisfy most traders. The site is relatively easy to navigate and the customer support team manages to be there and answer your questions most of the time, but not always. 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.

Good bonus and promotion program
Variety in platform and account types
Average support response time and answer quality
Incredibly low minimum deposit

Leave Comment

3 10

Comments

5 5
05/11/2018, 18:22:15
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.
5 5
19/10/2018, 09:18:07
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 5
16/10/2018, 23:15:02
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 5
06/10/2018, 07:35:28
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 5
26/09/2018, 19:14:58
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 5
24/09/2018, 17:04:22
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 5
25/08/2018, 17:26:16
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 5
13/08/2018, 20:03:21
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.
5 5
10/08/2018, 13:24:55
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 5
25/01/2017, 18:55:24
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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