What is FXTM?

FXTM, or ForexTime, is an internationally acclaimed forex and CFD broker, founded in 2011. FXTM is known for offering flexible trading conditions, a range of account types, and advanced trading technology. It has become a popular choice for both beginner and seasoned traders due to its emphasis on customer support, education, and user-friendly trading tools. FXTM allows clients to trade a diverse range of financial instruments, including forex, commodities, indices, cryptocurrencies, and shares, catering to a wide spectrum of trading styles and strategies.

With a client-centric approach, FXTM has quickly expanded globally, developing a reputation for reliability, transparency, and competitive trading conditions. The broker is particularly favored by traders for its in-depth market insights, educational resources, and user-friendly platforms.

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Is FXTM a Trustworthy Broker?

FXTM is a trustworthy broker, operating under multiple regulatory authorities to provide safe and reliable trading services. The broker is regulated by:

• Cyprus Securities and Exchange Commission (CySEC) – License number 185/12.
• Financial Conduct Authority (FCA) in the UK – License number 600475.
• Financial Sector Conduct Authority (FSCA) in South Africa – FSP number 46614.
• Financial Services Commission (FSC) in Mauritius – License number C113012295.

By holding licenses from multiple respected regulators, FXTM adheres to strict operational standards and maintains segregated client accounts for enhanced security. These measures ensure that client funds are handled responsibly and add a layer of protection for traders, establishing FXTM as a reputable broker in the industry.

Broker Location

FXTM’s main headquarters are located in Limassol, Cyprus, with additional offices in London, the United Kingdom, and Johannesburg, South Africa. The broker’s presence in multiple regions enables it to provide localized support and comply with regulatory requirements across different jurisdictions. This global footprint allows FXTM to effectively serve clients from over 180 countries.

Account Types

FXTM offers various account types tailored to meet the needs of different traders. Each account type has unique features, allowing clients to select the one that aligns with their trading style and level of experience.

1. Standard Account

The Standard Account is ideal for beginner to intermediate traders who prefer a straightforward account with competitive spreads and no commissions.

• Minimum Deposit: $100
• Features:
• Spreads from 1.3 pips.
• Leverage up to 1:1000.
• Access to both MT4 and MT5 platforms.
• Suitable for forex, commodities, indices, and shares trading.

This account type suits traders who prefer a simple pricing structure with no hidden costs.

2. Cent Account

The Cent Account is designed for novice traders or those who wish to trade smaller volumes and manage risk on a micro-scale.

• Minimum Deposit: $10
• Features:
• Spreads from 1.5 pips.
• Leverage up to 1:1000.
• Access to the MT4 platform.
• Trading is conducted in cents instead of dollars, making it suitable for micro-lot trading.

This account is ideal for beginners who want to practice with real funds but on a smaller scale to reduce risks.

3. ECN Account

The ECN Account caters to advanced traders looking for access to the interbank market with lower spreads and competitive commission rates.

• Minimum Deposit: $500
• Features:
• Spreads starting from 0.1 pips.
• Commission of $4 per lot per side.
• Leverage up to 1:1000.
• Access to both MT4 and MT5 platforms.

This account is popular among high-frequency and professional traders seeking tighter spreads and direct market access.

4. ECN Zero Account

The ECN Zero Account provides access to the ECN environment without commissions, making it attractive for traders focused on cost-effective trading.

• Minimum Deposit: $200
• Features:
• Spreads starting from 1.5 pips.
• No commissions on trades.
• Leverage up to 1:1000.
• Access to both MT4 and MT5 platforms.

This account is ideal for traders who prefer an ECN environment without incurring commission charges.

5. FXTM Pro Account

The FXTM Pro Account is designed for institutional traders and experienced professionals seeking premium trading conditions.

• Minimum Deposit: $25,000
• Features:
• Raw spreads starting from 0.0 pips.
• No commission on trades.
• Leverage up to 1:200.
• Access to MT4 and MT5 platforms.

This account type is geared toward high-net-worth individuals and professional traders looking for the best available trading conditions.

How to Open an Account

Opening an account with FXTM is straightforward and typically takes only a few minutes:

1. Visit the FXTM Website: Go to FXTM’s website and click on “Open Account.”
2. Complete Registration: Fill out the registration form with your personal details, such as name, email, phone number, and country of residence.
3. Select Account Type: Choose the account type that best fits your trading style.
4. Verify Your Identity: Submit identification documents, such as a passport or driver’s license, and proof of residence.
5. Fund Your Account: Deposit funds using your preferred payment method.
6. Start Trading: Once your account is funded, you can begin trading on your chosen platform.

Trading Assets

FXTM offers a comprehensive range of trading instruments, including:

• Forex: Over 60 currency pairs, including majors, minors, and exotic pairs.
• Commodities: Gold, silver, crude oil, and natural gas.
• Indices: CFDs on major global indices, such as the NASDAQ, S&P 500, and FTSE 100.
• Shares: CFDs on popular stocks from leading companies worldwide.
• Cryptocurrencies: A selection of digital assets, including Bitcoin, Ethereum, and Litecoin.

This wide range of assets allows FXTM traders to diversify their portfolios and capitalize on various market opportunities.

Deposit and Withdrawal Methods

FXTM supports a wide range of deposit and withdrawal options, offering flexibility for traders around the world:

• Bank Wire Transfers: Available for secure, direct bank transfers.
• Credit/Debit Cards: Accepts Visa, MasterCard, and Maestro for instant deposits.
• E-Wallets: Options include Neteller, Skrill, and PayPal.
• Local Payment Methods: FXTM supports various localized payment options in select regions for added convenience.
• Cryptocurrency Payments: Allows funding and withdrawals via cryptocurrencies.

Minimum Withdrawal

The minimum withdrawal amount varies depending on the method chosen but typically starts as low as $5 for e-wallets. Withdrawals are usually processed within 24 hours, with bank transfers potentially taking a few days.

Fees and Spreads

FXTM offers competitive spreads and low fees, making it a cost-effective choice for many traders:

• Spreads: Standard account spreads start from 1.3 pips, while ECN account spreads can go as low as 0.1 pips.
• Commissions: The ECN account charges a $4 per lot commission per side, while the ECN Zero and Standard accounts have no commission.
• Swap Fees: Applicable to positions held overnight, depending on the instrument traded.

FXTM’s fee structure is designed to cater to a range of traders, from beginners to professionals, with transparent and competitive pricing.

Trading Platforms

FXTM offers two of the most popular trading platforms in the industry: MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both of which are available for desktop, mobile, and web trading.

1. MetaTrader 4 (MT4)

MT4 is widely used for its user-friendly interface and powerful features.

• Features:
• Technical Indicators: Over 30 built-in indicators.
• Charting Tools: Multiple charting options and timeframes.
• Automated Trading: Support for Expert Advisors (EAs) for algorithmic trading.

MT4 is an excellent choice for forex traders, offering reliability and ease of use.

2. MetaTrader 5 (MT5)

MT5 is a multi-asset platform that builds on the success of MT4, with additional features and asset classes.

• Features:
• Advanced Charting: Additional timeframes and in-depth analytical tools.
• Economic Calendar: Integrated calendar for tracking economic events.
• Extended Asset Range: Includes more asset types for diversified trading.

MT5 is ideal for traders looking for an advanced platform with a wide asset range and enhanced analysis tools.

Trading Options

FXTM provides a variety of trading options:

• Forex Trading: Access to over 60 forex pairs.
• CFD Trading: Allows trading of indices, commodities, and shares as CFDs.
• Spot Metals: Includes gold and silver trading.
• Cryptocurrency Trading: Bitcoin, Ethereum, and other digital assets.

These options give FXTM traders the flexibility to adopt diverse trading strategies across multiple financial markets.

Sign-Up Bonus

FXTM often provides promotional bonuses for new and existing clients, including:

• Welcome Bonus: Deposit bonuses offered periodically to new clients.
• Loyalty Program: Rewards for frequent traders based on trading volumes.

These bonuses vary by region, so clients are encouraged to check the FXTM website for the latest offers.

Customer Support

FXTM has a dedicated customer support team available 24/5. Support channels include:

• Live Chat: Instant assistance via live chat on the website.
• Email Support: Available for detailed inquiries.
• Phone Support: International phone numbers for direct support.

Support is provided in multiple languages, allowing FXTM to cater to a global clientele.

Education

FXTM offers extensive educational resources:

• Webinars and Seminars: Regular webinars and local seminars for all trading levels.
• E-books and Articles: Comprehensive resources covering forex basics, trading strategies, and technical analysis.
• Market Analysis: In-depth analysis and daily market updates.

Broker Awards

FXTM has received numerous industry awards, including:

• Best Forex Broker: Recognized for exceptional service and customer satisfaction.
• Best Trading Conditions: Known for its competitive trading environment.

These awards affirm FXTM’s commitment to providing top-notch services.

Trader Complaints

Common complaints from traders include:

• Withdrawal Delays: Occasional delays in processing withdrawals.
• Higher Spreads on Cent Accounts: Cent accounts sometimes have higher spreads.

FXTM actively addresses these issues to maintain client satisfaction.

Advantages and Disadvantages

Advantages

• Regulated Broker: Multiple regulatory licenses ensure trustworthiness.
• Wide Range of Accounts: Variety of account types to meet diverse needs.
• Educational Resources: Comprehensive educational support.

Disadvantages

• Inactivity Fees: Charges for inactive accounts.
• Limited Cryptocurrency Assets: Fewer crypto options compared to some brokers.

Overall Verdict

FXTM is a versatile broker, offering secure and reliable trading services with a strong focus on client education and support. With competitive pricing, multiple account types, and a global reach, FXTM appeals to traders of all experience levels.