In 2011, ForexTime (FXTM) was launched to offer a new and superior forex trading product on the global forex market.
The idea was to launch a user-friendly and professional platform that was as easy to use for beginners as it was for experienced traders, and there is no doubt that the brains behind FXTM have succeeded.
In fact, today FXTM is one of the top forex brokers in the world, and since they’ve added commodities, indices, and stocks* to their selection, they have managed to make a name for themselves as one of the best CFD-brokers. Period.
If you don’t believe us we suggest you check out the many awards they’ve won over the years.
- Fully regulated and licensed.
- Offers over 250 instruments that you can trade on.
*Stock Trading is available for clients under Exinity Limited.
Find the best trading platform. You capital is at risk when trading. Be careful.
FXTM Scam?
We only recommend the absolute best brokers in the world, whether it’s for forex trading, stocks, or a mix of underlying assets. That means that we would never recommend FXTM if we weren’t 100% certain that FXTM was not a scam but rather a broker that you could trust.
Moreover, we would never recommend a broker that wasn’t licensed and regulated in the areas that we target.
FXTM Brand is authorized and regulated in various jurisdictions. Forextime Limited is regulated by Cyprus Securities and Exchange Commission (CySEC) in Cyprus, registered with the Financial Conduct Authority (FCA) in the UK, and licensed by the Financial Sector Conduct Authority (FSCA) in South Africa.
In this case “more is more” and licenses from three leading regulatory bodies is enough for us to confirm that FXTM is not a scam.
4 Things You Should Know About FXTM
- Not only has FXTM collected numerous awards and recognition over the years, but they also happen to be deeply respected by other brokers and organizations in the business. FXTM is dedicated to offering a good and fair product and aims to always be at the forefront of technological developments which have secured this broker’s future.
- In 2018, less than seven years after the official launch, FXTM officially passed 1,000,000 registered accounts which is a huge milestone in the industry. Most new brokers don’t even survive for the first seven years let alone attract over one million paying customers. The milestone is even more impressive when you consider that FXTM hadn’t yet passed 500,000 at the end of 2016.
- Over the years, FXTM has been very active as a sponsor for athletes in different sports. For example, in 2018 supported Lewis Pugh for the “The Long Swim” and welcomed him as FXTM Brand Ambassador in his humanitarian fight for a blue economy.
- FXTM has developed a unique and very appreciated copy feature that allows you to copy other suitable traders. Not all brokers offer this feature, and we’re always excited to find the ones that do. With that being said, copy trading is not for everyone, and it’s best suited for beginners and traders that are limited in terms of time.
FXTMs Asset Classes
As mentioned, FXTM was created to offer a superior forex trading environment which the founders have succeeded at. However, since launching, FXTM has grown and implemented other CFDs on the platform.
Today, you can, for example, also trade three commodities (crude, brent, and natural gas), spot metals, all of the leading stock indices, as well as over 180 of the most popular stocks.
The result is that FXTM is not only one of the best forex trader on the market but also one of the best CFD-traders out there.
As an extra bonus, FXTM also provides the opportunity to speculate on the price of gold bullions.
Additionally, FXTM offers a great copy trading function where you can copy suitable traders and use trading signals for automatic forex trading.
For your convenience, we’ve put together a detailed list of the available asset classes that you can trade with FXTM below.
- Currencies – There are over 50 different currency pairs that you can trade with FXTM ranging from the largest currencies in the world to several smaller exotic ones.
- Commodities as CFD – You can trade CFDs on the spot price for crude and brent oil as well as natural gas. The three most lucrative commodities offer a great opportunity and “spot” means you’re investing in the currency price (the opposite of futures). In addition, you can trade gold and silver with the same system.
- Indices – Indices are one of the most popular asset classes in the world and FXTM allows you to invest in them using CFDs. For example, you can trade GDAX (Dax 30), UK 100 (UK 100), SP500m (US SPX 500 – mini), and several more indices on the FXTM platform.
- Stocks – There are 180 company stocks available as CFDs on FXTM, and we guarantee that there are shares here that would interest you. The focus is one well-established blue-chip stocks, but you can also find a few more uncommon options.
Find the best trading platform. You capital is at risk when trading. Be careful.
What Platforms Does FXTM Offer?
We are always delighted when we come across a broker that offers the MetaTrader products. There are a few cases where brokers have managed to develop their own trading software but generally speaking, MetaTrader’s products are preferred.
Luckily, FXTM has decided not to develop their own software but instead provide traders access to the full collection of MetaTrader trading tools. That means you can sign up for FXTM and trade using MetaTrader 4, MetaTrader 5, as well as the MetaTrader Webtrader version of MT4 and MT5, and the associated mobile versions.
With FXTM you can conveniently trade anywhere on any platform at any time.
Real Trading Account and Demo Account
ForexTime provides a few different account types depending on what you’re looking to trade, and we’ll give you a quick rundown of what they are and which platform they’re connected to.
Standard Accounts:
- The Standard Account is the most basic forex trading account with floating leverage and access to MetaTrader 4.
- The Cent Account is similar to the Standard Account with a few perks and fixed leverage. It also provides access to MT4.
- The Shares Account can be used to trade more than 180 of the biggest American stocks with a 3% margin and other sweet perks on the MetaTrader 4 platform.
ECN Accounts
- ECN Zero is commission free with tight spreads and no re-quotes on MT4. This is perfectly suited for traders with average experience
- ECN Account gives you access to MT4 and MT5 and provides traders with many features that make the trading experience as easy as possible.
- ECN Pro is FXTM’s pro account that has been specifically designed to offer all the functions professional forex traders need, it offers access to MT4 and MT5.
Demo account
There is an FXTM demo account that you can use to trade on the available platforms in a risk-free environment. It’s a great way to get some free experience and take the FXTM platform for a test drive.
FXTMs License and Regulation
Over the years, FXTM has been authorized and licensed from several jurisdictions, and today they have all the licenses they need to offer CFD and forex trading in most parts of the world.
The following licenses are the most important to European traders, but we want to clarify that there are even more organizations that have authorized FXTM.
FXTM brand is authorized and regulated in various jurisdictions.
ForexTime Limited (www.forextime.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614.
The company is also registered with the Financial Conduct Authority of the UK with number 600475.
ForexTime UK Limited (www.forextime.com/uk) is authorised and regulated by the Financial Conduct Authority with license number 777911.
Exinity Limited (www.forextime.com) is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295.
We can’t emphasize the importance of using a regulated broker enough. During our many years in the industry, we’ve heard countless stories about signing up with unregulated brokers and being completely ripped off.
Unfortunately, if you’re ripped off by an unregulated broker, there is not much you can do and no one to hold accountable.
On the other hand, if you were to get ripped off or there would be any problems with a regulated broker you can always contact the regulatory bodies to see if they will support you.
In most cases, CySEC and other agencies will take the customer’s side, and we really suggest that you never even consider using a broker that is not regulated.
Also, we would never recommend a broker that wasn’t regulated so you can always feel safe and calm with the brokers that we’ve reviewed on this site.
FXTM Payment Options
FXTM provides an impressive list of payment options for withdrawals and deposits with most payments being processed the same day as they’re initiated. Please note that the list of the methods below depend on the FXTM entity and on the Clients Country of Residence.
- Credit and debit cards – Visa, Mastercard, and Maestro
- Internet Payments – Neteller, Skrill, WebMoney, Yandex, DotPay, Qiwi, etc.
- Cryptocurrencies – Bitcoin through Skrill
- Domestic Bank transfers
- FXTM Virtual Mastercard – FXTM’s own credit card available for withdrawals
World Leading Customer Service
FXTM has offices in Cyprus, UK and Mauritius.
If you would run into a problem with the FXTM trading platforms or if you have any questions you have four options.
You either go to the FXTM FAQ where many of the most common questions are answered. If you don’t find a solution there, you can either contact FXTM via email (info@forextime.com), live chat, and social media (Messenger, Whatsapp, Viber, Telegram) or by calling one of their local hotlines.
Fees, Commission, and Spread at FXTM
Like all profitable business, FXTM has to make some money. This is done through a system of different fees, commission, and spread.
But don’t worry, FXTM doesn’t charge any more than other brokers although the system might differ a bit from other brokers.
Fees
There are a couple of fees that you have to pay with an FXTM account. First and foremost, certain local payment methods come with a smaller charge and FXTM will charge you $5 if your account is inactive for more than 6 months. All of this is industry standard, more or less.
Commission fees at FXTM
Unlike some other brokers that we’ve reviewed, FXTM is not commission free but let us explain why.
The commission is not fixed meaning the more you trade and the higher your daily volume is, the less you will have to pay. In fact, the terms for FXTM’s ECN MT4 trading fees are flexible. A $100,000 investment can cost as little as $1.50.
Spread fees at FXTM
Instead of commission, FXTM uses spread for the currencies and some of the CFD trading. FXTM’s spread is super tight and highly competitive and drops down to 0.1 pips for most major currency pairs.
In the end, FXTM has a few more fees than some of their competitors, however, the amount charged is often less which means the amount you have to pay for each trade levels out in the end.
Also, paying fees, spread or commission is unavoidable with any broker and something you need to accept.
Find the best trading platform. You capital is at risk when trading. Be careful.
Education on FXTM
One thing that really separates FXTM from many other brokers is their dedication to offering good and useful education for traders of all levels.
In fact, there is way too much educational material on the FXTM website for us to even start covering all of it but we will try to give you a quick summary.
There is a comprehensive beginner’s guide, multiple recorded seminars and webinars, eBooks, videos, and articles. In addition, FXTM provides regular market updates, a detailed economic calendar, strategic advice, and one of the best forex glossaries on the market.
All in all, there is definitely material on the FXTM platform that can be beneficial for any and every trader regardless of your previous experience and goals.
FXTM Rewards
As mentioned, FXTM is a highly rewarded and appreciated broker that has been recognized with several prestigious awards since they were first launched in 2011.
- In 2015, FXTM was awarded a total of 7 awards and was one of the best years for the broker. Among these awards, we find “Best Affiliate Program,” “Most Promising Forex Broker,” “Best Broker Eastern Asia, Including China,” and “Best Investor Trading Institution.”
- FXTM was awarded another 4 major awards in 2016. The most impressive of them all was the “Best FX Broker” at the European CEO Awards. In fact, very few brokers can brag about having been crowned the best FX broker and to us, it just emphasizes how good FXTM’s forex product is.
- The year 2017 ties with 2015 for the most awards and it was also the best year in terms of how important the awards were. FXTM received five awards in 2017 with “Forex Broker of the Year” from the Global Investor Mena Awards, and “Forex Broker Firm of the Year” from the European Magazine Award, topping the list as the most impressive.
Even though only half of 2018 had past when this was first written, FXTM has already managed to receive two awards – “Best Forex Broker Russia” and “Most Innovative Broker.”
FXTM Review conclusion
It’s obvious that we aren’t the only ones that truly like ForexTime considering they have been rewarded with several of the industries finest awards such as Forex Broker of the Year (2017), Best FX Broker Asia (2017), and Best Customer Service Global (2017).
On top of the award-winning forex platform, FXTM provides practical stock and commodity trading features, and we consider them to be one of the best CFD brokers in the world. You can also check out City Index.
Find the best trading platform. You capital is at risk when trading. Be careful.
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