ForexTime (FXTM) is an international online forex broker founded in 2011. The company is headquartered in Cyprus and is regulated by multiple jurisdictions, including the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, and the Financial Sector Conduct Authority (FSCA) in South Africa.
FXTM offers a wide range of financial instruments, including Forex, CFDs on commodities, indices, and shares. Traders can access these markets through MetaTrader 4 and MetaTrader 5 platforms, which are available on both desktop and mobile.
Customer support is available 24/5 in multiple languages, catering to a global clientele. FXTM also provides an educational section, including webinars and articles aimed at both novice and experienced traders.
Security of funds is paramount at FXTM. The broker adheres to regulatory standards and ensures that client funds are kept in segregated accounts.
FXTM Broker Review
Overview
- Website: FXTM
- Founded: 2011
- Headquarters: Cyprus
- Regulations: CySEC, FCA, FSCA
- Minimum Deposit: $10
- Trading Platforms: MetaTrader 4, MetaTrader 5
Overall Rating: 4.5/5
Pros and Cons
Pros
- Multi-jurisdictional regulation
- Wide variety of trading instruments
- Excellent customer support
- Extensive educational resources
Cons
- Limited availability of cryptocurrencies
- Fees on withdrawals
Usability
Both MetaTrader 4 and MetaTrader 5 offer user-friendly interfaces that are well-suited for traders of all levels.
Features
The platforms are equipped with advanced charting tools, numerous indicators, and automated trading capabilities through Expert Advisors (EAs).
Mobile App
Both MetaTrader 4 and 5 have mobile applications available on Android and iOS, offering most of the desktop features for traders on the go.
Account Types
- Standard Account
- Minimum Deposit: $10
- Leverage: Up to 2000:1
- Spreads: From 1.3 pips
- ECN Account
- Minimum Deposit: $500
- Leverage: Up to 500:1
- Spreads: From 0.1 pips
Asset Coverage
- Forex: 50+ currency pairs
- Commodities: Gold, Oil, Silver
- Indices: Multiple global indices
- Shares: Wide range of international stocks
Customer Service
Support is available 24/5 via live chat, phone, and email in multiple languages.
Deposit and Withdrawal
Methods
- Credit Card, Wire Transfer, e-wallets like Skrill and Neteller.
Fees
- No deposit fees, but fees on withdrawals can apply.
Regulation and Security
Regulated by CySEC, FCA, and FSCA, FXTM adheres to international compliance standards and ensures client funds are held in segregated accounts.
Conclusion
FXTM stands out for its strong regulatory compliance, diverse asset offerings, and comprehensive educational resources. With user-friendly MetaTrader platforms and a variety of account types, FXTM is suitable for traders of all levels.
Disclaimer: Trading involves risks and may not be suitable for everyone. This review is for informational purposes only and should not be considered financial advice.
Please remember to conduct your own due diligence before trading with any broker.
