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FXTM broker is an acronym for ForexTime.com. The company was founded by Andrew Danish who is a prominent person in the field and mainly renown for founding the Alpari Group -a parent company of numerous forex brokerages. FXTM has only arrived in the market in the year 2011, and in a short span of 7 years, has grown to become a highly acclaimed online trading platform.
Not only does FXTM offer the most popular forex pairs for trading, FXTM forex broker provides numerous trading options on a variety of financial assets namely – ETFs, CFDS , stocks, commodities and indices. FXTM offers more than 250 instruments and also a wide range of trading education resources to help their clientele develop their trading skills and master advanced strategies. FXTM’s education centre has an expanse of over 100+ webinars, new e-books, short forex trading videos and educational articles etc.
FXTM has shown great commitment to provision of localized services, taking all steps necessary to suit the needs of particular market. The localization along with their successful collaboration with talented and experienced teams from all over the world, has established FXTM as the global trademark it is today. As of today, FXTM boasts of close to half a million active trading accounts.
In order to cater to the rapidly expanding needs of the global clientele, FXTM provides 30 different payment options and localized, multi-lingual support staff that is available on a 24/7 basis.\
*Trading CFDs on cryptocurrencies is only available under FT Global Limited*
FXTM Regulations
FT Global services Ltd is the parent company of FXTM (Forex Time). The corporation is based in Cyprus and Belize and is regulated via Cyprus Securities Exchange Commission (CySEC) and Belize International Financial Services Commission (IFSC) in the two countries respectively.
Severe regulatory requirements laid out by CYSEC such as segregated accounts for clients and the broker, maintaining adequate liquidity and maintaining transparency is all met by FXTM; it is also a member of the Investors Compensation Scheme.
FXTM’s financial activities are regulated by the Financial Service Board (FSB) in South Africa.
Reliability
In only seven years FXTM (Forex Time) has bagged several awards; the awards for 2017 are – ‘Best Customer Service Global’, ‘Best FX Broker Asia’, ‘Best Online Forex Trading Company of the Year Nigeria’, ‘Forex Broker of the Year’.
The many accolades only reinforce what is already known; that is, FXTM is a world – renowned and trusted source for online trading. It has time and again proven its place in the market and amongst the online trading community.
Trading Platforms
FXTM (Forex Time) makes sure their clients are served with the best platforms available in the market. FXTM offers the industry’s leading forex trading platforms MT4 and MT5 directly on PC, MAC, mobile or tablet so that the clients can trade at their convenience.
MetaTrader 4 (MT4) Platform
MetaTrader4 is industry’s favourite trading platform, it has the following features:
Cutting edge and user –friendly features: It makes trading look easy. Suitable for a novice or a professional trader; this platform has an easy to navigate interface and functionality.
Access to all major trading instruments: The platform caters to all the trading needs by aggregating different instruments in one platform for easy access and quality trading experience.
Multi currency/ language support: To cater to the needs of a global trading community, the app provides multi-currency transactions and support in various localised languages. This clearly demonstrates company’s commitment to be a truly global trading service provider.
Automated Trading/ Expert Advisors: MT4 allows automated trading practises via their expert advisors feature. It allows traders to automate their trading processes as per their need. The platform provides further assistance if required.
Security: MT4 uses a 128bit encryption key to encrypt all the data that is transmitted between the MT4 client and the server and hence is renowned for its security capabilities within the trading community.
MetaTrader 5 (MT5) Platform
MetaTrader provides great functionality and navigation regardless of the device it is accessed from. Be it a browser ,desktop or tablet – platform is just excellent on any device. By choosing the most convenient way from a variety of options, the traders can trade 24 hours a day!
A nice selection of expert advisors, Freelance database of strategy developers, Copy Trading and the Virtual Hosting service (Forex VPS) is what MetaTrader 5 provides. In addition to the above, the platform is enhanced with a nice selection of technical indicators.
FXTM Mobile Platforms
Both MT4 and MT5 are available as mobile trading apps for the clients who like to stay on top of everything and access the market on the go.
FXTM also has its own mobile app which is available on IOS & Android for download. The app offers all the frequently used functionalities and tools like live currency rates, the minute-by-minute trading news. Etc, these are the tools a trader requires for efficient trading.
FXTM Account Types
The diversity of choices for its client is one of the things FXTM prides itself on. FXTM extends this policy towards the types of accounts it offers. The trading accounts can be divided into 2 main types of accounts – Standard and ECN accounts. There are 3 types of standard trading accounts and three types of ENC accounts that FXTM provides.
Additional Features
To help the community in terms of education, FXTM provides articles and tutorials, webinars and a trader’s glossary. FXTM also offers subscription to signal services, a currency converter, a daily market analysis portal, and an economic calendar.
Cryptocurrencies Trading
To keep up with the current trends in the market like crypto trading, FXTM extended its CFD offering to cover crypto currencies following the lead of several other brokers in the industry and following Cyprus Securities and Exchange Commission new set of guidelines for crypto trading. Traders now can have exposure to popular cryptocurrency pairs such as BTC/USD, ETH/USD and LTC/USD due to FXTM’s new offerings. The cryptocurrency pairs offered by FXTM at the moment is same what limited, FXTM has announced that they will build their cryptocurrency portfolio in the near future.
Commissions and Spreads
At FXTM the spreads and commissions are applied based on the type of trading account a client holds. On an average the traders are can expect to pay the table illustrated below:
Deposits and Withdrawals Options
FXTM makes deposit and withdrawals extremely simple and to the point. They allow deposits via debit/credit cards; a variety of e-wallets such as web money, western union, qiwi wallet to name a few and through bank wires. The details of the deposits are mentioned below:
- Deposits via Debit/Credit cards
- Deposits via E-wallets
- Deposits via Bank Transfers
Same as the deposits; the details of the withdrawals are mentioned below:
- Withdrawals via Debit/Credit cards
- Withdrawals via E-wallets
- Withdrawals via Bank Wires
Bonus and Promotions
FXTM offers a loyalty programme; instead of reward points or virtual credit they offer more value for buck by reducing costs of each trade. In addition to the loyalty programme they have a ‘Refer-A Friend’ programme and a host of trading contests to keep the clients engaged and benefited.
Customer Support
FXTM provides three mediums to the clients to get in touch with the customer support – email, live chat or calls. To ensure support at ‘country level’, local supports are available in several countries that FXTM operates in.
FXTM Pros and Cons
Pros
- Competitive Spreads
- Several options of trading accounts
- Localized Support Available for many Countries
- Strict Regulation Observed
- Array of Trading Platforms
- Good promotional offers
Cons
- Limited Choices of Commodity Assets
- Limited trading platforms, only MetaTrader based Trading platforms available
FXTM Q&A
Is FXTM regulated?
Yes. FXTM is regulated in Cyprus by CySEC for the European Nations and Belize’s IFSC for the non – European nations.
How safe is FXTM – Is FXTM a scam?
FXTM follows all the standard procedures of web-safety. Card transactions are protected using SSL and MetaTrader uses 128 bit encryption key for security.
Where is FXTM based?
FXTM is based in Nicosia, Cyprus
How to deposit in FXTM account?
A number of ways are available to make deposits at FXTM, more information is mentioned in above, please scroll up to ‘FXTM Deposit and Withdrawals options’.
How to withdraw money from FXTM?
Withdrawal information is also provided under the ‘FXTM Deposit and Withdrawals options’.
How to open an account with FXTM?
It is a standard procedure. You need to fill out the registration form and submit it. As FXTM is a regulated broker, you will then need to verify yourself by uploading your identity documents and proof of address. Once the documents are verified; you can then start trading.
Does FXTM use Metatrader?
Yes, both MetaTrader 4 and MetaTrader 5 trading platforms as the webtrader, download and mobile versions.
What is FXTM’s leverage?
This is suitable only for experienced traders. The maximum leverage at FXTM is 1:1000
Conclusion
Close of half a million active trading accounts and several awards bestowed has proved that FXTM is a reliable broker that offers competitive spreads and quality services for both beginners and professional traders. An added bonus is the educational training available at FXTM for the clients in the form of webinars, daily analysis, e-books etc. It takes an extra effort to not only provide a trading platform but also to provide education regarding the platform and the market, which makes it an ideal choice for traders of all levels.
FXTM Rating
Pros
- Competitive Spreads
- Several options of trading accounts
- Multi Countries Support
- Strict Regulation Observed
- Array of Trading Platforms
Cons
- Limited Choices of Commodity Assets
- Limited trading platforms