FXTM (Forextime) Review


Legal Company NameForexTime Limited
Websitehttps://www.forextime.com
Year Founded2011
Offices LocationsCyprus, UK, Belize
RegulatorsFSCA No.46614, FCA, CySEC, IFSC
Broker TypeECN/STP
Minimum Deposit$5
Maximum LeverageFlexible
Minimum Spread0.1 pips
Deposit & WithdrawalBank wire, Visa/Mastercard, Skrill & Western Union, Neteller and many more
Currency Pairs59
Trading PlatformMetaTrader 4, MetaTrader 5
Web-based PlatformsYes
Mobile AppsYes
2017 Broker of the Year, FXTM, works hard to accommodate for all traders and does it far better than most others.  With rapid customer growth, recent advancements in creating even better account types and cryptocurrency expansion, traders can feel like they are members of a versatile, modern and robust broker.

Compared to other brokers in their class, the trading conditions at FXTM are some of the best in the industry.  The client base relies on fast execution, tight spreads as low as 0 pips, and leverage as high as 1:1000.  Suitable for day traders, scalpers and position traders alike, FXTM is a broker you should choose should you value a good mix of profitable trading conditions, quality support, and regulation.

Account Types

FXTM has two main account types for real accounts – Standard accounts and ECN accounts.

Standard Accounts:

The standard account offerings suit the trader who wants to deposit the bare minimum of 5USD or a minimum of 100 USD which is easier to trade with.  Standard accounts offer Instant Execution as the standard accounts are using the FXTM Dealing Desk setup to make the trades available immediately with the possibility of requotes and thus no slippage.

Spreads on the standard accounts start at 1.3 pips with floating leverage up to 1:1000.

The Standard account type, however, is the only account that offers a full set of currency pairs to trade including some exotic pairs, cryptocurrency trading, and CFDs.  The cent account provides major and minor pairs, so this account would suit the introductory trader who wants to get a feel for Forex trading.

ECN Accounts:

The ECN accounts offer market execution to traders, which means that opened at market prices but in periods of high volatility or low liquidity in the pair traded, there could be slippage.  Leverage offered on all ECN accounts (except the professional PRO account) is floating between 1:25 and 1:1000 and the margin call for all trades is set at 80%.

The ECN account has trading of the majors, minors, exotics and spot CFDs but does not have cryptocurrency trading.  If you want to trade cryptocurrencies, then the 100 USD Standard Account is your option.

There are four different account types, all different to satisfy a variety of traders.  Here is how best to compare them to each other.

  • ECN Account: This account has a 500 USD minimum deposit and tight spreads from 0.1 pip.  There is a commission of 2 USD per lot which compensates for the 0.1 pip tight spread.  If you don’t want to pay commission on the trade, then the ECN Zero account would be the better option.
  • ECN Zero: This account has a lower 200 USD minimum deposit and wider spreads than the ECN account which starts at 1.5 pips. There is no commission on each trade.
  • FXTM ECN MT5: This account is very similar to the ECN account listed above with a few small changes. It best suits traders who want to move to the MT5 platform, and for that pleasure, you will get slightly wider spreads starting at 0.2 pips and slightly fewer pairs to trade.  If you are not keen on moving over to the MT5 platform, don’t choose this account and instead, go for the ECN account described above.
  • FXTM Pro: This account is for the professional trader with a minimum deposit of 25,000 USD.  Because of the high deposit amount, FXTM can offer spreads as tight as 0 pips with no commission, and all currency pairs available.  This account is for the serious trader who enjoys the MT4 platform, and market execution and does not want to pay commissions on a trade while keeping their low spreads.

Regulation

The majority of the reputable regulators around the world regulate FXTM.  They include:

Spreads and Leverage

Leverage offered at FXTM is higher than at most other brokers.  It is flexible leverage from 1:25 to 1:1000 except on the Pro account which has leverage from 1:25 to 1:200.

Trades opened with instant or market execution will see spreads vary, and a possible commission on the trade.

Deposits and Withdrawals

FXTM offers a wide variety of depositing and withdrawal methods.  These include Credit Cards, E-Wallets & Local banking options.  There is no commission on depositing.

In some cases, there can be a commission on withdrawing funds.  The vast majority of withdrawals are processed within 24 hours of them being received which gives traders access to their funds when they need it.

Customer Support

Customer support is usually fast and informative.  It is not often that brokers have opening hours on the weekend, so this will come in handy should you have a job that limits your ability to get away for a call on weekdays.

They can help with most of the general areas that you will come across.  They can help with registration, account funding, minor technical support and also can help you get more detailed support as you need it.

All the below times are GMT + 2.  FXTM support is open:

  • 24 hours a day – Monday to Friday
  • 11:00-16:00 Saturday
  • 12:00-20:00 Sunday

Compare FXTM

FXTM Vs. XM

 FXTMXM
FundingBank wire, Visa/Mastercard, Skrill & Western Union, Neteller and many moreBank wire, Visa/Mastercard, Skrill , Neteller
RegulatedFSCA No.46614, FCA, CySEC, IFSCEU CySEC License No. 120/10, UK FCA Registration No.705428, ASIC No. 443670
Broker TypeECN/STPMarket Maker
Currency Pairs5955+
Minimum Spread0.1 pips0.0 pips
Minimum Deposit$5$5
Max LeverageFlexible500:1
Expert ReviewRead reviewRead review
Visit WebsiteVisit FXTMVisit XM

FXTM Vs. ICmarkets

 FXTMeToro
FundingBank wire, Visa/Mastercard, Skrill & Western Union, Neteller and many moreBank wire, Visa/Mastercard, Skrill , Neteller, PayPal
RegulatedFSCA No.46614, FCA, CySEC, IFSCUK FCA Registration No.583263 EU CySEC License No. 109/10
Broker TypeECN/STPMarket Maker
Currency Pairs5947
Minimum Spread0.1 pips2 pips
Minimum Deposit$5$200
Max LeverageFlexible400:1
Expert ReviewRead reviewRead review
Visit WebsiteVisit FXTMVisit eToro

Overall

FXTM is a leading broker, winning many awards for performance, customer service, and trading conditions.  They are respected in the industry and they work hard to attract new customers.

A variety of account types welcome new and old traders alike, offering traders good conditions and support when help is needed.   I would recommend FXTM to any new trader who wants to use MT4, but if you were wanted to trade cryptocurrencies, you would find yourself limited in account options.

FXTM - Forextime
4.8
FXTM Forextime Logo

Product Name: FXTM - Forextime

  • Trading Conditions
  • Platform Choice
  • Regulation & Oversight
  • Customer Support

Pros

  • ASIC & FCA Regulated
  • MT4 & MT5 Ready
  • Low minimum deposit
  • Award-winning

Cons

  • Wide spreads on the standard accounts
Comments Rating 0 (0 reviews)


Leave a Reply

Sending

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
+ +