FXTM Review

FXTM offers one of the best trading experiences out there

FXTM was founded just over 8 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 account types, this broker offers an extensive selection of education resources together with a choice of trading platforms, and a large selection of banking options.

Company Information

• 3 account types – Flexible leverage
• Website: www.forextime.com
• 24/7 chat support
• Office address: FXTM Tower, 35 Lamprou Konstantara Kato Polemidia, 4156 Limassol Cyprus

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 FSCA 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.

Assets Available

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. These promotions and bonuses are only applicable to Exinity Limited.

Mobile

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
• WebMoney
• Alfa-Click
• Payza
• DotPay
• Yandex
• Qiwi
• Skrill
• Neteller

Please note that the list of the methods above depend on the FXTM entity and on the Clients Country of Residence.

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:

• USD
• EUR
• GBP
• CNY
• INR
• PLN
• CZK
• RUR
• NGN

Customer Support

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

• Live Chat

• Social Media – WhatApp, Viber, Telegram, Facebook

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.

Verdict

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.

FAQ