FXTM offers one of the best trading experiences out there
- Website: www.forextime.com
- 24/7 chat support
- Office address:
- FXTM Tower, 35 Lamprou Konstantara
- Kato Polemidia, 4156 Limassol
FXTM was founded just over 5 years ago in 2011 with a mission to provide the best possible trading standards paired with impressive educational resources and advanced trading tools. ForexTime, known as FXTM, offers trading in spot metals, CFDs and indices as well as currency pairs. With an extensive choice of 3 standard accounts and 4 types of ECN account, this broker offers an extensive selection of education resources together with a choice of trading platforms, and a large selection of banking options.
FXTM is a reliable and trustworthy Forex broker that has over 5 years of active experience in the industry. As a regulated and licensed broker, FXTM is regulated by CySEC, and is also licensed by the FCA in the UK as well as the FSB in South Africa. FXTM keeps all of its client funds in segregated accounts, and they use strong SSL encryption technology across the entire site to ensure the client can have peace of mind that their financial and personal data is in safe hands. FXTM does not offer trading services to any resident of the USA, Japan, British Columbia, Quebec or Saskatchewan.
FXTM has more than 200 assets that its traders can select from. They offer over 50 currency pairs as well as trading in indices, CFDs, spot metals and over 180 share CFDs.
Bonuses & VIP Programs
While FXTM does not offer welcome bonuses for clients, it offers a loyalty programme to encourage existing clients to go on trading with them. Rather than offering any reward points or virtual currencies, FXTM offers a reduction on the cost of each trade for loyal clients. With five levels in the loyalty programme, its top level offers a potential maximum saving of up to $10,000. FXTM also has several trading contests that give investors the chance to top up their account credit.
As expected from most binary options brokers, FXTM has recognised the need for clients to check their assets and to carry out their trades while they are on the go. They are aware that traders do not want to be tied to their laptop or PC therefore they have enabled clients to download the trading platforms for MT4 and MT5 to their mobile device such as a tablet or smartphone with ease. The ForexTime mobile application makes it even easier to trade from a mobile device. It is easy to download this mobile app from the Google Play Store, Apple Store or even from the broker’s website.
Deposits and Withdrawals
FXTM offers a wide variety of payment methods:
• Credit Card and Debit cards – Visa, MasterCard, Maestro
• China UnionPay
• Bank wire transfer
• Western Union
FXTM does not charge any commission on deposits made with any method, and depending on which method they choose to deposit with, its processing time may be as short as a few seconds or potentially up to five working days. For withdrawals, there are commissions charged on some methods, however the amount varies depending on which method is chosen. There is very rapid processing of withdrawals, however, and usually, funds are processed in one working day. There are several currencies in which clients can hold an account, including:
FXTM offers a choice of ways in which their customer support centre can be contacted. These include:
• Email – FXTM has 8 different email addresses that clients can use to ensure that their query is sent to the correct department. The departments are: Queries, new accounts, account opening, complaints, back office, partnerships, media relations and investment services
• Telephone – there are 8 telephone hotlines which are based in several countries including: the UK, Nigeria, France, Italy, Cyprus, The Czech Republic, Poland and Spain
• Live Chat
The FXTM website is available in 18 different languages to suit the needs of clients all over the world.
Extra Features and Resources
FXTM offers its clients a large range of education resources that are suitable for all types of client, from beginners to advanced traders. They offer webinars and seminars, as well as a free e-book which can be downloaded, and a range of training videos as well as several educational articles which can be read. There is also a glossary which helps novices to learn all of the basic terms as well as a few other features such as market analysis, an up to date economic calendar, market forecasts and market overviews.
FXTM has quite a lot to offer its potential clients, however it is also important to bear in mind that there are several negative points too.
• Cutting edge trading software that is suitable for use by both experienced and novice traders
• A choice of several trading platforms
• Mobile trading apps for iPhone and Android
• Choice of customer service contact methods including instant live chat
• Multilingual website
• Regulated and licensed by CySEC, FCA and FSB
• Strong SSL encryption site wide
• Choice of base account currencies
• Fast withdrawal times
• Large range of deposit and withdrawal methods including e-wallets
• Loyalty scheme
• Excellent educational resources
• There appear to be no welcome bonuses
• Clients from the USA, Japan and several Canadian territories cannot trade with this broker
Is FXTM a regulated broker?
Unlike many other brokers, FXTM is regulated and licensed to give their clients peace of mind. Regulated by CySec, they are compliant with all safeguarding rules regarding client funds and they are also licensed by the FSB and FCA.
How do I register with this broker?
FXTM have made it quick and easy to complete their registration process. Clients only need to complete all of their relevant personal details on the online registration form and submit it before depositing their first amount and beginning trading.
Is there a registration fee payable to FXTM?
Clients do not need to pay any registration fee when they open a live trading account with this broker.
Is there a choice of trading accounts?
Both advanced and brand new traders are able to trade reliably with with this broker since they offer a number of account types.
Standard Account – Minimum deposit of $100 (or equivalent)
Cent Account – Minimum deposit of $5
Shares Account – Minimum deposit of $100
ECN Account – Minimum deposit of $500
ECN Zero Account – Minimum deposit of $200
FXTM ECN MT5 Account – Minimum deposit of $500
FXTM Pro Account – Minimum deposit of $25,000
Are demo accounts available with this broker?
FXTM gives its potential clients the chance of opening a free demonstration account so that investors can try out the trading platforms and all of the broker’s features before they commit any of their own money. This benefits new investors who want to have the chance to learn more about the markets without taking any financial risks, but it also benefits advanced traders who can experiment with new strategies without any chance of making a loss.
What are the benefits of choosing FXTM?
FXTM offers clients an excellent range of trading services such as fast trade execution, the option of paying low minimum deposits and having no Dealing Desk. As they offer a choice of account types, traders at all levels of experience are able to benefit from this broker’s services, and since they offer a good choice of assets for trading, clients have lots of choice. As they are a licensed and regulated broker, clients can have peace of mind, as well as the knowledge that their money is in safe hands. Their client services are second to none. They offer impressive multilingual client support helplines as well as an impressive array of payment methods. As they also have free market reports and analytical tools, this broker is recommended.