FXTM Review 2021

FXTM Video Review

Investor Protection & Regulations

“FXTM has entities authorised and regulated by the UK Financial Conduct Authority, Cyprus Securities and Exchange Commission, the Financial Sector Conduct Authority of South Africa and the Financial Services Commission of the Republic of Mauritius.”

The FXTM holds licences in various jurisdictions. These include:

• ForexTime UK Limited authorised and regulated by the UK Financial Conduct Authority (FCA).
• ForexTime Limited authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Sector Conduct Authority of South Africa (FSCA).
• Exinity Limited authorised and regulated by the Financial Services Commission of the Republic of Mauritius.

All of these regulations and authorisations can be viewed on the relevant regulator’s register, as confirmed on the FCA register below for ForexTime UK Limited.

Entities regulated by the FCA, CySEC and some others offer high regulatory oversight and as such, FXTM segregates client funds from their own and offers a negative balance protection policy for retail clients in certain jurisdictions. The broker does not accept clients from the USA, Canada or Japan, among others.

Tradable Products

“FXTM offers the ability to trade on more than 250+ financial CFD instruments covering Currencies, Commodities, Indices, Metals and Stocks.”

FXTM offers clients the ability to trade on more than 250+ financial CFD instruments covering a wide range of asset classes such as Currencies, Commodities, Indices, Metals and Stocks for European and US regions.

Below is a list of just some of the available markets for trading:

* Details regarding the available assets are taken from the FXTM website and trading platform and are correct at the time of this review.

Trading costs such as spreads, commissions and overnight funding (swap) rates vary depending on the instrument being traded and account type opened. A detailed review of the trading costs with FXTM can be found further down this review.

Account Opening

“FXTM offers a very simple account opening process with access to six different account types under two categories called Standard and ECN. The broker also provides access to a demo trading account.”

FXTM provides access to a wide range of trading accounts suitable for both beginner and advanced traders. The six account types fall under two categories called Standard and ECN. The features and benefits vary with some details highlighted below:

The majority of trading accounts are commission-free with low starting spreads. Accounts can be funded in USD/GBP or EUR. The leverage offered varies on jurisdiction with European entities offering up to 30:1 leverage for retail clients and higher for professional clients.

Opening an account is a simple process and just requires clicking the Open Account button on the broker’s website. This will then lead to a registration form asking for name, country of residence, phone number, email and password. Users are then redirected to the My FXTM client portal area to finish off the application process and provide proof of identity and address documents.

From this client portal area, users can manage different accounts, access trading services and promotions (if applicable) and payment options.

Deposit & Withdrawals options

“Payment options with FXTM include bank wire transfer, debit/credit card, Neteller or Skrill. Deposits and some withdrawals are free of charge.”

FXTM provides clients with the ability to deposit funds commission-free through bank wire transfer, debit/credit card, Neteller or Skrill. While bank wire transfers can take 3-5 business days to process, the other methods are processed in just 2 hours.

Users can also withdraw funds via the same methods but some methods incur withdrawal fees while other methods do not, as shown below. Withdrawing funds via Neteller and Skrill is commission-free. Withdrawing funds via debit/credit card has commissions of either 2 EUR, 3 USD or 2 GBP.

Deposits and withdrawals can be done directly from the My FXTM client portal area.

*The list of the methods above depend on the FXTM entity and on the clients country of residence.

Web & Desktop Trading Platforms

“FXTM offers the ability to trade on the globally-recognised MetaTrader 4 trading platform for PC, MAC and Web.”

FXTM offers a wide variety of different trading platforms suitable for both beginner and advanced traders to trade on multiple asset classes.

FXTM MetaTrader 4

The FXTM MetaTrader 4 trading platform is available for desktop download for PC and MAC and offers a variety of features including:

• Available in 20+ languages
• Trade on multiple asset classes
• In-built technical trading indicators
• Access MQL4 for algorithmic trading
• Access trading signals from MetaTrader Market

FXTM MetaTrader Web Trader

The FXTM MetaTrader Web Trader platform is available via web browser and offers a variety of features including:

• No download required
• 9 chart time frames
• Real-time quotes
• Advanced analysis tools
• Compatibility with six different browsers

A screenshot of the FXTM Web Trader trading platform is shown below and is covered in more detail in the video review.

Mobile Trading Platforms

“FXTM offers the ability to trade on the go via the MetaTrader mobile trading app, as well as its own FXTM Trader App.”

Clients of FXTM are offered the ability to trade on the move via mobile using the MetaTrader mobile trading app, as well as the broker’s own FXTM Trader app, all available for Android and iOS devices. The apps can be downloaded via the broker’s website, from the client portal area or through the relevant Apple App Store or Google Play Store.

The FXTM mobile trading app provides several different features, including:

• Access all your trading accounts from one place
• Trade over 250+ financial CFD instruments on the move
• Cross-device trading between desktop and phone
• View real-time prices and live price updates
• Access a variety of different order functions
• Access charts and tools for analysis

The FXTM Trader app is covered in more detail in the video review.

Trading Features

“FXTM provides a range of trading features such as additional MT4 trading indicators and the FXTM Pivot Points Strategy.”

FXTM provides a range of trading features which includes:

• MT4 Trading Indicators:
  • MT4 Pivot Point Indicator
  • Pip Value Calculator
  • Pivots SR Levels
  • Spread Indicator
• Pivot Points Strategy – integration of the most popular tools in trading

All of these can be easily accessed from the My FXTM client portal area, as shown below:

Commissions & Spreads

“Trading costs with FXTM vary depending on the market being traded and the account type opened.”

Trading costs with FXTM vary depending on the market being traded and account type opened.

Fortunately, the broker also provides more detailed information regarding costs in the Contract Specifications section, as the example shows below:

FXTM Forex Trading

Bonus & Promotions

“Bonus and promotions are offered to a varying degree depending on the geographical jurisdiction.”

FXTM authorised and regulated by European regulators (ForexTime Limited and ForexTime UK Limited) are prohibited from offering bonuses to clients.

Customer Support

“FXTM offers multilingual customer support Monday to Friday 8am to 6pm through Live Chat, Email, Telegram and Call Back.

FXTM offers customer support 6am – 6pm Monday to Friday via Live Chat, Email, WhatsApp, Telegram, Call Back and other social channels in 17 different languages.

After testing the Live Chat function, we were greeted by an agent within seconds who answered our question promptly, as shown below:

• Live Chat (link can be found on the website)
• Address: FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol Cyprus.
• Phone:
  • +44 20 3514 1251 (for Forextime UK Limited)
  • +357 25 55 8 777 (for Forextime Limited)
• Email:
  • info@forextime.com
  • support@forextime.co.uk
  • support@forextime.com
• Social:
  • https://www.facebook.com/ForexTimeUK
  • https://twitter.com/ItsForexTime
  • https://www.linkedin.com/company/forextime-ltd-fxtm
  • https://www.instagram.com/fxtm_forextime/
  • https://www.youtube.com/user/ItsForexTime

Research

“FXTM offers trader research in the form of the FXTM Market Outlook report, Live Trading News page and Market Analysis Videos and Articles, as well as an Economic Calendar.”

FXTM offers a wide range of different trader research resources. This includes FXTM Market Outlook report, Live Trading News page and Market Analysis Videos and Articles, as well as an Economic Calendar. These are produced by the broker’s in-house research team.

The live news videos and articles cover a wide range of market analysis and commentary across different asset classes, as shown below:

Trader Education

“FXTM offers a large range of educational resources and includes eBooks, seminars, webinars and educational videos and articles.”

FXTM offers a large range of educational resources and includes: eBooks, seminars, webinars and education videos and articles. For example, the educational videos cover topics for both beginner and advanced traders, as shown below:

Users can also access a wide range of webinars across different time zones, covering different topics, as shown below as well:

Trading Experience

“FXTM offers a simple, yet competitive offering to trade on more than 250+ financial CFD instruments covering a wide range of markets from the MetaTrader 4 trading platform and access to a large range of research and educational resources.”

From our observations, FXTM provides a simple, yet competitive, offering suitable for both beginner and advanced traders. Users can access a wide variety of different trading accounts for ECN trading and commission-free trading on more than 250+ financial CFD instruments covering Forex, Indices, Metals, Commodities and Stocks.

Users can trade from the globally-recognised MetaTrader 4 trading platform for PC, MAC and Web, as well as from the broker’s own FXTM Trader app. The broker also offers additional MT4 indicators for download and an impressive suite of educational articles and videos.

FAQ

Is FXTM regulated?

Yes, by the FCA, CySEC and FSC.

Where is FXTM based?

FXTM has offices in Cyprus, United Kingdom and Mauritius.

How does FXTM make money?

FXTM makes money through spreads, swaps and commissions on certain tradable asset classes and trading accounts.

How do I deposit in FXTM account?

Funds can be deposited into a trading account via bank wire transfer, debit/credit card, Neteller or Skrill.

What is the min. deposit for FXTM?

The minimum deposit is 10 USD/EUR/GBP.

How do I withdraw money from FXTM?

Withdrawals can be made from FXTM via bank wire transfer, debit/credit card, Neteller or Skrill.

What is the max leverage in FXTM?

The maximum leverage offered by FXTM is 30:1 for retail clients in line with ESMA regulations.

How do I open an account with FXTM?

An account can be opened at the click of a button on the FXTM website and can be done in just a few steps.

Does FXTM use MetaTrader?

Yes.

Conclusion

“FXTM is a globally regulated broker that offers the ability to trade on more than 250+ financial CFD instruments covering Currencies, Commodities, Indices, Metals and Stocks from the globally-recognised MetaTrader 4 trading platform and FXTM Trader App.”

FXTM, otherwise known as ForexTime, was founded in 2011. The FXTM brand holds licences and authorisations from global regulators such as the UK Financial Conduct Authority, the Cyprus Securities and Exchange Commission, the Financial Sector Conduct Authority of South Africa and the Financial Services Commission of the Republic of Mauritius.

The broker offers the ability to trade on more than 250+ financial CFD instruments covering Currencies, Commodities, Indices, Metals and Stocks from six main account types under two categories called Standard and ECN. These offer a variety of commission-free and commission-based trading with low spreads and minimum deposits.

Users can access an impressive range of trader research and educational resources with market analysis videos and research articles, eBooks, seminars, webinars and educational videos. Users can also access customer support Monday to Friday 8am to 6pm through Live Chat, Email and Telegram.

• Multiple regulations (FCA, CySEC, FSC).
• Commission-free trading available.
• Can trade on MetaTrader 4 for PC, MAC and Web.
• Impressive educational videos and articles.