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FXTM ForexTime Broker Review

FXTM ForexTime Broker Review
Petar Nola
FXTM or Forex time is a world renown CFDs and forex broker that has been on the market since 2011. It is one of the most popular places for retail traders online and they are very hard to miss in the media due to their regular sponsorships of various events, probably the most popular recently... Read more
FXTM or Forex time is a world renown CFDs and forex broker that has been on the market since 2011. It is one of the most popular places for retail traders online and they are very hard to miss in the media due to their regular sponsorships of various events, probably the most popular recently being sponsors of the Sahara Force India FormulaOne™ Team in 2017 season. But sponsorships aside, there are reasons FXTM is so popular. In our ForexTime review we really liked the fact that they offer many trading accounts that seem to be tailored to all groups of traders. Along with this, their offer of markets is one of the best, while the number of platforms and solutions that one can includes solutions for true fast day to day trading to outright investment opportunities. To learn more read our review below.
4.5

  1. FXTM or Forex time is a world renown CFDs and forex broker that has been on the market since 2011. It is one of the most popular places for retail traders online and they are very hard to miss in the media due to their regular sponsorships of various events, probably the most popular recently being sponsors of the Sahara Force India FormulaOne™ Team in 2017 season. But sponsorships aside, there are reasons FXTM is so popular. In our ForexTime review we really liked the fact that they offer many trading accounts that seem to be tailored to all groups of traders. Along with this, their offer of markets is one of the best, while the number of platforms and solutions that one can includes solutions for true fast day to day trading to outright investment opportunities. To learn more read our review below.

  2. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    Between 74-89 % of retail investor accounts lose money when trading CFDs
    Your capital is at risk

  3. FXTM Special features

    As we already mentioned in the intro to the FXTM review, the broker offers several trading accounts to better tailor their offering to various customers. If you are a beginner in trading, it is most likely you will want to try the demo account.

    FXTM Demo Account

    FXTM Demo account is the type of account that enables traders to use the platform with virtual money in order to test trading platform without fear of loss. It takes literally less than 2 minutes to open the FXTM demo account. Just put in your data in the form, make sure to enter it correctly since you will be receiving a PIN via email or phone that helps complete the registration. After that the FXTM system will simply log you in into the My Accounts control panel where you can immediately enter the webtrader or continue downloading MT4 or MT5 desktop client. The login data will be sent to your email.

    In order to get live FXTM accounts, traders need to complete the form in the MyAccount. They must also choose between one of these, so please first read about the differences in FXTM accounts below before you continue with the selection.

    FXTM Standard Account

    • Minimum deposit of $100
    • Spread from 1.3 pips
    • Variable leverage from 1:500-1:25
    • Margin call at 40%
    • Access to most currency pairs, 5 spot metals and 14 spot CFDs
    • Max number of orders – 30

    FXTM Cent Account

    • Great for those who are wary of depositing too much money
    • Beginners will love this account
    • Great to test Expert Advisors
    • Variable leverage from 1:500-1:25
    • Minimum deposit of $5
    • Account and platform balances shown in cents (i.e. 100c instead of 1USD)
    • Spread from 1.5 pips
    • Margin call at 60%
    • Assets: minors and majors (popular currency pairs) and 2 spot metals
    • Max number of orders – 300

    FXTM Shares Account

    • Only used to trade stocks
    • Minimum deposit $100
    • Spread from 0.1 pips
    • Margin call at 40%
    • Margin starts from 3%, max 10%
    • Maximum number of orders – 100

    If you are a well experienced trader, FXTM also offers PAMM accounts, enabling you to become a strategy provider for others. Submission of trading history will be required to get approval from FXTM. Strategy fee is 20%.

    If you prefer that your trades are transacted through ECN, you can also opt in for one of the FXTM ECN accounts.

    FXTM ECN Zero Account

    • The account can be used with FXCM Invest
    • Traders can become strategy managers to manage other people’s portfolios
    • Minimum deposit $100
    • 1:500 – 1:25
    • Margin call at 80%
    • Super tights spread from 0.5
    • Access to most currency pairs, 5 spot metals and 14 spot CFDs
    • Unlimited number of orders

    FXTM ECN Account

    • Minimum deposit $500
    • Commission: $2 per lot
    • Market execution
    • Spread from 0.1
    • 45 currency pairs, 3 spot metals, 14 spot CFDs
    • unilimited orders

    FXTM MT5 ECN Account

    • benefit from advanced features of MT5 platform
    • Commission: $2 per lot
    • Market execution
    • Spread from 0.2
    • 34 currency pairs, 2 spot metals CFDs
    • unlimited orders

    FXTM Pro Account

    • floating leverage from 1:200 – 1:25
    • minimum deposit $25000
    • spread starts at 0
    • margin call at 80%
    • Volume of up to 250 per trade

    With ECN accounts, the commissions are per opening and closing the position. Don’t forget the spreads are extremely low with this kind of account.

  4. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs
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  6. FXTM Trading software

    FXTM offers multi-device solutions when it comes to platforms. This means that there is a trading client for whatever kind of device traders might own.

    FXTM Webtrader is the simplest solution based on MetaTrader that runs from trader’s internet browser. No installation required and most of the important trading tools are there – from technical analysis and charts to order types.

    FXTM MetaTrader4 and MetaTrader 5 terminal

    The terminal by MetaTrader is the client software download to your computer. With ForexTime, both versions – MT4 and MT5 are available. Both MacOS and Windows users can use them. MetaTrader4 MultiTerminal solution is available for those who need to manage multiple accounts.

    FXTM Mobile Applications

    The MetaTrader based applications are available for iPhone, iPad and Android devices, covering more than 90% of mobile market. Both MetaTrader4 and MT5 are available. From My Accounts -> My Platforms menu in the Trader Profile, clients can generate QR codes which can then be scanned by their device and the app will be downloaded from the respective application store. Alternatively, you can just search for it in the mobile app store.

    FXTM Underlying Assets

    FXTM offers most important FX pairs, about 60 of them, precious metals, stocks, but they also offer commodity futures and ETFs and Indices as assets underlying your CFDs. The total asset index encompasses well what most traders will need, and probably more.

    FXTM Cryptocurrencies

    From October 2017, ForexTime has introducted cryptocurrency CFDs, based on USD price of Bitcoin, Ethereum and Litecoin. At this point the crypto offer includes trading on MT4 platform. When compared to other brokers, FXTM was a bit late to the party and also starts with limited amount of cryptocurrencies.

    FXTM Webinars and Education Resources

    Every now and then, FXTM organizes webinars, which are free. When we were preparing for the review, nex webinar was about the Fibonacci strategy. In case you miss it, you can always find some info in our trading Academy, but you can also watch recorded seminars through your MyForexTime control panel.

    Along with webinars, there are seminars, FXTM organizes around the world, and you can also download an ebook by FXTM.

  7. If you want to trade with an award-winning licensed broker, we recommended using IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs

  8. FXTM Support information

    If you need FXTM Customer Support, there are several ways to reach them

    The fastest way most of the time is to use the live chat. With FXTM live chat can be done via the website, WhatsApp, Viber and Telegram apps. This is probably the best lineup of chat possibilities we have seen so far, ever. By embracing modern mobile apps for messaging, FXTM is speaking to next generation, that will be more likely the one that is also using mobile apps more than desktop terminals.

    For those who need a more direct Customer Support help, there are telephone numbers available in China, Cyprus, Czech Republic, France (free), India(free), Indonesia (free), Italy, Poland, Nigeria, South Korea (free), Spain, Thailand (free) and United Kingdom.

  9. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs

  10. FXTM Payment Methods

    FXTM is speaking to next generation, that will be more likely the one that is also using mobile apps more than desktop terminals.

    FXTM is regulated by CySEC on Cyprus, and they can use the EU passport system to offer their services across EU in compliance with the single market in financial services directives. They are registered with several other EU regulators, such as BaFin in Germany, CONSOB in Italy and AMF in France.

    FXTM Deposit

    Deposit methods for ForexTime include

    • Credit cards: Visa, MasterCard, Maestro, China Union Pay
    • E-wallets: Neteller, Skrill, AlfaClick, Web Money, WesternUnion, Payza, DotPay, Yandex Money, Qiwy Wallet
    • Bank Wire

    FXTM will not charge commissions, however, the payment provider might.

    FXTM Withdrawal

    Customers can get FXTM Virtual Mastercard which can be used to withdraw money fast, with no commission.

    Regular credit cards will have $3/€2 commission incurred, with the same business day processing time

    E-Wallets are the fastest method, but also can have higher costs. Neteller has no commission. Skrill has 1% commission, while Payza has 3.9% commission + another 0.59USD/EUR.

    Bank wire transfers can cost as much as 50 EUR and they depend on the bank you use.

  11. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    • FREE $10,000 demo account
    • Award-winning trading platform
    • Licensed and regulated broker

    Trade with an
    award-winning broker
    like IQ Option

     

     

    Between 74-89 % of retail investor accounts lose money when trading CFDs
    12. Your capital is at risk
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