FXTM is in this business since 2011. Within all this time it managed to achieve amazing results. The broker has become one of the leaders in the online trading business. It has partnerships with Sahara Force India Formula One Team and ambassadors like tennis champion Dominika Cibulkova, BASE jumping legend and Red Bull Athlete, Valery Rozov. The company always expands to different markets, growing the list of
ForexTime Limited is regulated by several authorities in different countries. Firstly, by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Services Board (FSB) of South Africa, with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475 and has an established branch in the UK.
Selection of trading instruments is more than enough. Starting with Forex, going through indices like GDAX, AUS200, UK100, etc., we find commodities such as US Crude, UK Brent, US Natural Gas and metals – gold and silver. In the end, customers see shares (stocks) of Alibaba, Apple, Amazon, Microsoft, American Express, and 170 different companies more. In addition, FXTM allows cryptocurrency trading as well.
Minimum deposit starts from only 5 USD, EUR, GBP or other currency which a user selects. And 250 USD/EUR/GBP if a customer selects a different type of account. Furthermore, FXTM accepts few different ways for depositing funds. From traditional bank transfer to Western Union or Union Pay. Don’t forget Neteller, Skrill, and bank cards of course. ForexTime provides some additional payment methods like Dotpay, Alfa-Click, Yandex.Money, QIWI, Bitcoin via Skrill, and a couple of local methods Deutsche Handelsbank and Rietumu Banka depending on customer location.
Without further ado, let us check other important details and terms in this FXTM review.
FXTM Fees and Spreads
As most of the brokers, FXTM applies inactivity fee of $5/€5/£5/₦5 or equivalent of used currency as well. In addition, the account can get disabled after 6 consecutive months of inactivity.
Furthermore, ForexTime charges customers with trading commissions. They vary depending on the traded instrument. We recommend to check what spreads and commissions are applied before opening a position.
Spreads vary from 0.1 on the ECN Account (MT4) and ECN MT5, and from 1.3 on the Standard Account (MT4) for Forex trading. More details about spreads we provide in the table under the review text.
FXTM Trading Experience
Customers state that they are very happy with the services provided by ForexTime. We couldn’t disagree with it. Why?
Firstly, FXTM provides a lot of different platforms for trading. One of the most used MetaTrader 4, and new, 5th version of MetaTrader. In addition, both versions of Webtrader – MT4, and MT5. Also, it supports MT4 MultiTerminal.
Furthermore, FXTM presents an advanced application for mobile devices, iOS, and Android. Customers can complete probably all the tasks they need – upload required documents and get your account approved, change personal details and subscriptions, deposit, withdraw and monitor your funds, provide trading strategies for investment portfolios with PAMM, get the latest info on local seminars, reserve your spot in minutes, register for promotions and exclusive contests, and manageMyFXTM trading account of course. Plus, users find market analysis, live currency rates, economic calendar, and forex news. Or in a few words – the whole trading world in user’s pocket. That is enough to stay up to date and for a fast reaction to the market changes.
Also, ForexTime provides a long list of trading tools, which are mostly available on MetaTrader 4 and MetaTrader 5.
Insights, Informational Tools, and Education
Another field where FXTM made the best of it. Amateurs and new traders find tons of useful and free information. First of all, the broker provides a useful series of articles where oscillators, currencies, trend, etc. are covered. Those who learn from reading the best can download few ebooks without any charges of course. First-time users should check beginners guide to forex trading. It isn’t long, but very clear and helpful.
Furthermore, FXTM has created and presented a very well explained series of videos. From margins & leverages to psychology. In addition, tens of short videos with more learning material are in the education section as well.
Also, the broker presents The FXTM Pivot Points Strategy for free. That’s a really useful and helpful stuff.
Besides all these goodies, ForexTime gives away an impressive dictionary of trading, forex, and other terms. It’s divided in an alphabet, so users find terms with ease.
Most noteworthy, registered and active users can watch live webinars of experts totally for FREE. That kind of information is invaluable. And rarely presented compared to other brokers.
FXTM did an amazing job when we talk about customer support. First of all, users can simply reach support team by using one of the phone numbers available. That depends on the country where the customer is located. Also, the broker has a hotline for international calls. And a callback may be requested as well.
Furthermore, traders can get a help using Live Chat function which is active on the business days only. Besides that, FXTM has impressed us with a wide range of other communication channels – WhatsApp, Facebook Messenger, Telegram, and Viber. Any other broker offers that variety of different ways for getting a help. Applauses for that!
Finally, FXTM extends an area of support by allowing customers to open a ticket on a help desk, of course.
We consider that FXTM provides one of the best support around the field of brokers.
FXTM – the broker which has deserved our compliments. Firstly, because of a lot of very well prepared educational materials including live free webinars. Secondly, ForexTime provides a wide range of trading platforms. Users are able to follow the market and make traders wherever they go.
Users get a top-notch experience here. A lot of trading tools, best platforms, major trading instruments. FXTM organizes many contests and promotions. While being regulated by multiple global jurisdictions, ForexTime accepts new customers from most countries worldwide (the list of restricted regions can be found on the table below).
The site is easy to navigate and understand. Everything looks nice and modern. It’s clear that the company invested a lot of time and resources to make UI and UX great.
The company is always developing and expanding. They do not hold their profits without seeing future perspectives. Funds are kept in segregated accounts at the best Europe banks. ForexTime is really promising and we love it.
On the other hand, a list of trading instruments could be improved within time. However, more than 250+ different assets are probably enough for most traders.
To sum up, we think this broker is a great choice for newcomers as well as for very experienced traders with a long history.
Attention: Terms, spreads, and information provided on this page may get outdated due to terms and rules changed by the broker. Please double check them before making a deposit and start using ForexTime Limited.
FXTM Review updated in 2019.
|Excluded countries||USA, Belize, Japan, British Columbia, Quebec and Saskatchewan and some other regions|
|Languages||English, Spanish, French, Italian, Russian, Polish, Dutch, Czech, Arabian, Chinese, Malay, and Vietnamese|
|Licenses||FCA - FRN: 600475, CySEC - License: 185/12, FSB - FSP: 46614, IFSC/60/345/TS and IFSC/60/345/APM|
United Kingdom Branch