FXTM Review

FXTM is a top broker for new and growing markets. Traders here get improved MT4/ MT5 trading platforms, along with great research and education. Forextime also offers one of the best Forex pricing environments based on commissions. We checked out this award-winning broker to see if high-frequency traders and scalpers can have an advantage here. You might have seen recommendations for FXTM on social media.

🏢 Headquarters	Cyprus
📅 Year founded	2011
🗺️ Regulation	FCA, CySEC, FSCA, FSC, CMA
💻 Trading platform:	MetaTrader 4, MetaTrader 5, FXTM Trader
💰 Account currency:	USD, EUR, GBP, NGN
📊 Accounts:	Micro, Advantage, and Advantage Plus
💵 Withdrawal:	Visa and MasterCard, bank transfers, electronic payment systems
🚀 Minimum deposit:	$10
⚖️ Leverage:	up to 1:2000
☪️ Islamic account (swap free)	Yes
🎮 Demo Account	Yes
💱 Spread:	From 0.0 pips
🔧 Instruments:	Currency pairs, precious metals, CFD contracts on stocks, commodities, and indices
📋 Orders execution:	Instant execution, Market execution
☎ Customer Support:	24*7
📚 Education	Yes

What is FXTM?

FXTM, short for Forex Time, is known as one of the fastest-growing Forex and CFD brokers worldwide. It has a large number of clients and offers quality services. The company focuses on providing reliable trading conditions and comprehensive education to its clients. It makes trading accessible globally, regardless of the trader’s experience.

FXTM was founded in 2011 and is headquartered in Cyprus (Limassol). It has offices across Europe, including the UK, and maintains a presence in South Africa. The company is authorized by the Financial Conduct Authority and other regulatory bodies. Within a relatively short period, FXTM has shown significant growth in Europe and beyond, particularly in Africa and Asia.

Pros and Cons

Pros	Cons
FXTM is a broker that’s heavily regulated and has a strong reputation.	There’s a withdrawal fee.
It offers a wide variety of trading platforms with competitive conditions.	The spread for trading stocks is high.
FXTM has won numerous awards in the industry.	The broker is closed on Saturday and Sunday.
You can start trading with a low deposit.	Only copy trading is offered for investment.
The spreads are tight, which can be good for traders.
The customer support is of high quality, and there are educational materials available.

FXTM Regulation and Security

Trading with a regulated broker helps prevent fraud and dishonest practices. We suggest traders look for regulation and confirm it with the regulator by checking the provided license with their database. FXTM offers clients five well-regulated entities.

Is FXTM Safe or a Scam?

No, FXTM is not a scam. It’s a well-regulated broker operating as ForexTime Ltd, ForexTime UK Ltd, and Exinity Limited, three entities under the FXTM brand that provide trading services.

Forextime is also in the process of acquiring a regulatory license in Kenya as it expands across Africa. On February 26th, 2021, FXTM stopped its retail operations from its CySEC regulated entity, citing the uncompetitive regulatory framework introduced by the European Securities and Markets Authority (ESMA) as the reason. Clients in the European Economic Area (EEA) can still trade with any of the other subsidiaries.

It’s important to note that FXTM complies with necessary regulatory guidelines in every region it operates, which earns a high score in terms of trustworthiness.

This question is crucial because investor accounts can lose money, and trading with an unregulated entity dramatically increases the risk of losing funds.

FXTM Fees

FXTM charges fees mainly through a spread, which varies based on the type of account you have. You should also keep in mind other fees, like non-trading fees and withdrawal fees, which we’ll look at later.

Typically, FXTM offers tight floating spreads. Standard MT4 spreads start from 1.6 pips, and for ECN accounts on both MT4 and MT5 platforms, they start from 0.1 pips. However, there’s an additional commission charge per order for ECN accounts.

Spreads

FXTM offers Forex fees through spreads only, with no commission, if you use the Advantage Plus or Micro Account. This fee method makes calculations simple and is a great option for many traders, no matter their strategy. FXTM’s three account types have different fee conditions. The standard spread starts at 1.5 pips for USD, EUR, GBP, NGN.

Leverage

Leverage is a tool you can use when trading with FXTM. You can choose between fixed or floating leverage. It’s really helpful, especially if you’re a small trader, because it can boost your potential gains by multiplying your initial account balance by a certain number.

FXTM sets leverage based on different factors. First, it follows regulatory requirements in different regions. Then, it considers your experience and knowledge as a trader. You should always check with customer support to see which leverage applies to you.

If you want higher leverage ratios, like 1:400, 1:500, or even 1:1000, you can open an FXTM account under an entity that allows such high levels. This is offered by the global brand.

Accounts Types

FXTM has two types of accounts: one for Forex trading and another for investing. These accounts are split further based on what you prefer for your trading: the type of transactions, the instruments you want to trade, and the size of your trades. Altogether, FXTM offers three types of accounts: Micro, Advantage, and Advantage Plus.

Deposits and Withdrawals

When it comes to adding or taking out money from your FXTM account, the process is straightforward. FXTM offers a wide range of funding options, making it easy for you to find a suitable way to transfer your money. You can fund your trading account quickly using bank transfers, credit cards, or electronic wallets.

The minimum deposit required by FXTM is $/€/£ 100 for a Standard Account and only $10 for a Cent Account. Additionally, the company covers all deposit fees, which helps you manage your money smartly.

For withdrawals, FXTM offers various options, including bank transfers, e-wallets, and cards. Each withdrawal option may have a different fee. For example, withdrawing via Credit Cards incurs a $3 fee, Bank Transfers cost $30, and WebMoney charges 2% above the requested amount.

However, these fees are generally low compared to other companies in the industry. Some withdrawal methods may have no commission fees.

Trading Platforms

FXTM trading technology and toolbar use top software from third-party providers. These platforms are MT4 and MT5. These platforms don’t need much introduction since they’re industry standards. FXTM combines MetaTrader’s advanced technology with their own trading services, making trading smoother and enhancing your capabilities.

Web Trading Platform

FXTM’s platform uses MT4 or MT5 software, both available as WebTrading platforms or for direct installation on any device. Web trading is perfect for beginners or regular traders. It’s accessible from your browser, doesn’t need installation, and is easy to save and navigate.

Desktop Platform

For more tools and powerful customization, choose the Desktop version. MetaTrader works on PCs, MACs, and includes Multi Terminal for money managers. You’ll have access to your account whenever you need it.

The package includes all the necessary tools, from risk management to analysis. It also has unique trading tools like Pivot point strategy and trading signals, plus converters and calculators to make trading more professional at any level.

FXTM Education

According to our research, FXTM regularly holds educational events in different cities worldwide. They meet the demand for starting trading journeys and provide learning materials for anyone interested in trading. They offer webinars, seminars, platform tutorials, trading tools, research tools, a comprehensive glossary, Forex news, an Economic Calendar, Market outlooks, and Analyst analysis, all available for you to use.

Customer Support

FXTM’s customer support is a key part of its focus on clients. You can get help through Online Live Chat, Phone, emails, Messenger apps, and more. FXTM is well-regarded by its clients and offers support in many languages. They have centers in Asia (Indonesia, Malaysia, Thailand, and China), Africa, Europe, and elsewhere, ensuring global coverage for traders.

Conclusion

In conclusion, FXTM offers great trading opportunities for both beginners and experienced traders or investors. It’s one of the top leaders in Forex Trading. Besides, there are many other advantages with FXTM. They have a good global coverage, especially focusing on Africa, with trading opportunities in Nigeria and Kenya.

They offer a variety of account types, giving every trader the best option with flexible or floating leverage. Moreover, their educational resources are among the best available. Overall, FXTM is a trustworthy and quality choice for Forex traders of any level.

FAQs

Is FXTM a legitimate broker?

Yes, FXTM is a legitimate company. It operates with four regulatory licenses and is in the process of acquiring a fifth. It is also known for being transparent.

Does FXTM allow scalping?

Yes, FXTM allows scalping. There are no restrictions, and the trading conditions are ideal for it.

How long does it take to withdraw from FXTM?

FXTM usually processes withdrawals within 24 hours. However, it may take up to five business days for clients to receive their funds, depending on the payment processor. Most online payment processors credit accounts instantly after FXTM completes the withdrawal.

What is the leverage offered by FXTM?

FXTM offers a dynamic six-tier leverage system. The maximum leverage is 1:2000, and the minimum is 1:25 for Forex traders.

What is the minimum deposit for FXTM?

The minimum deposit for FXTM is $500 for the Advantage and Advantage Plus accounts.

Does FXTM charge an inactivity fee?

Yes, FXTM charges an inactivity fee of $5 per month after six months of dormancy.

Can I withdraw from FXTM?

Yes, FXTM allows all verified traders to withdraw their funds upon submitting a valid withdrawal request. FXTM offers 16 payment processors, providing many localized options for its core markets.