There are very many brokers in the world right now, but some of them are standing out from the crowd, making them very unique. This FXTM review will describe the services of the company, its accounts, regulations and more. FXTM is a great broker, as it has taken lots of technology, experiences and people with experience and combined them perfectly. Trading conditions at FXTM are great, you get high leverage and low spreads. After reading this FXTM review you would love to open an account with this forex broker.
Leverage: 1:1000 Licences: CySEC, FCA
Min. Deposit: 1 USD Bonus: N/A
Spreads: from 0 pips US Clients: No
FXTM is a great broker! Sign up now!
FXTM Forex Broker at a Glance
ForexTime, or FXTM for short is a new entrant on the Forex broker market. Even if it’s just two years since it appearance, it has established a reputation very quickly, by offering quality services from the start, something that is difficult to do. Maybe this is because of the fact that the founder of Alpari is also the co-founder of this broker and it has put his skills and knowledge to work. This is also a broker that it’s focused on growth and it has a fair chance of accomplishing it with the services it offers.
FXTM is the tradename for Forextime, a forex broker licensed by CySEC under the license number 185/12 as Forextime Ltd. The International Financial Services Commission (IFSC) of Belize also regulates the company under the license numbers IFSC/60/345/TS and IFSC/60/345/APM. They also acquired a license from the Financial Services Board (FSB) of South Africa with FSP number 46614.
Having these licenses allows FXTM to have a global presence and the ability for them to sign up clients from all areas of the world except the US. It is no surprise, therefore, that FXTM has more than half a million active clients signed up for their services right now. This is no small feat for a forex broker that opened their doors in 2011. The market is saturated with hundreds of forex brokers, but FXTM have still managed to set themselves apart from the rest.
They did this by targeting specific client needs and addressing them – you are going to see these features in the following sections. Due to their efforts, they have received numerous awards over the years they have been active. In that time, they have also partnered with the Sahara Force India Formula One team and Dominika Cibulkova, a tennis champion.
FXTM Forex Trading Broker Accounts Overview
FXTM have very flexible trading conditions that can suit every kind of trader, starting right from the variety of trading accounts available. There are both ECN and standard accounts depending on the client’s needs. ECN accounts provide direct access to the interbank market while standard accounts match clients’ trades to execute the orders. The former, ECN accounts, are ideal for clients who prefer to receive the tightest spreads and exact market execution with no requotes.
Then there are various types of ECN accounts like the regular ECN account charging commissions and very narrow spreads. The Pro ECN account for serious high net worth investors provides deep liquidity to tier-1 liquidity providers. Meanwhile, an ECN MT5 account available with the MT5 platform offers extra MT5 features like Level II Data showing trading volumes from the broker. In the forex market, this information is as close as you can get to understanding market sentiment, especially when you’re dealing with a broker with many clients like FXTM.
As for the standard accounts, the typical standard account offers tight spreads and no commissions, but there is a cent account as well with similar features. The difference between the two is that the cent account offers trades in cent lots with very low risk and ideal for new traders. The standard account also has the FXTM Invest feature, allowing any trader to offer investment opportunities to other traders and earn some more money. Finally, a standard shares account is available just dedicated to the trading of stocks, of which there are more than 180 of them.
FXTM Trading conditions Review
All these accounts would be no good if FXTM didn’t provide as many trading options, but it does. There are more than 60 currency pairs ranging from the majors to the exotic ones. In addition, CFDs are available for stocks, futures, commodities and precious metals, providing alternative trading opportunities. FXTM even has ETFs, which are a great investment tool representing a basket of trading instruments.
We mentioned before that FXTM addressed clients’ concerns to get to where they are, and one of the ways they did that was by offering high leverage. On both standard and ECN accounts, leverage can be as high as 1:1000 to give a chance for all traders to participate. Along with a $100 minimum account opening balance, FXTM has made it possible for traders of all means to sign up and participate.
FXTM Reviews of Trading Platforms
Traders can choose between MetaTrader 4 or MetaTrader 5 platforms, which have become the standard in the market. MT4 is the most popular and users get to enjoy a wider variety of custom indicators from online platforms, while MT5 has additional features that can help a trader get an edge. Additional tools include technical signals provided by FXTM, all verified to work effectively and other extras like the economic calendar and market analysis performed by FXTM experts. Furthermore, FXTM also provides a VPS, which is useful for when you need to keep running expert advisors (EAs) even when your computer is switched off. Web versions, as well as download versions, are available for those platforms.
For traders who are on the move, there are mobile versions of MetaTrader 4 and MetaTrader 5 available. Even though there are no in-house platforms the choices presented here are enough for most traders. Not many brokers are confident enough to make a platform that rivals MetaTrader and most of them don’t need to. There are also ECN versions of these platforms that have lower spreads, thus making large traders feel that are not neglected. Overall, we find that FXTM provides all-around excellent services and we would definitely recommend them to anyone.
FXTM Reviews of Extra Features
The learning section doesn’t have a lot to offer; there is a webinar every week and some articles that don’t go into depth and don’t present the knowledge a trader must have at the beginning.
FXTM Forex Broker Customer Support
This is one of the broker’s strong points; both the support staff and the account managers are multi-lingual. This type of services really makes the trader feel special. Customer support can be reached by e-mail, live chat, Skype or the telephone.
FXTM Forex Trading Broker Deposits and Withdrawals
Deposits can be made via credit cards, Neteller, Skrill, OKPay, Payza, Western Union, bank wire and Fasapay. Same systems apply for withdrawals.
FXTM Review Conclusion
The dedication they put into their work makes it easy to explain why this broker needed to be recognized by its rivals even from the start. This type of client service paved the way for its growth and made its strategy sustainable. There are always people bringing something new to the table, with contests added often. In addition to solid services the marketing also works very well for them, letting them win over traders quickly. All in all FXTM is a great choice at it combines both reliability and support.