FXTM Review

Review

FXTM or Forex Time, founded in 2011, is still considered a newcomer to the online Forex trading scene. However, within a span of few years, this broker has managed to carve out a name for itself by wining several industry awards such as “Best Newcomer 2013” and “Fastest Growing Forex Broker.” FXTM is regulated by various jurisdictions and has offices in Cyprus, the UK and Belize. Forextime Limited is regulated by CySEC, Forextime UK Limited is authorized by FCA and Exinity Limited is regulated by FSC.

This should not constitute as advertisement in the territory of Belgium, France and Netherlands

Accounts

There are two main Forex trading accounts to choose from at FXTM (Standard and ECN Account). There is minimum deposit depending on the account. The Standard accounts are divided into Standard, Cent and Shares account with different contract specifications and minimum deposits. Similarly, the ECN Account is divided into ECN, ECN Zero and FXTMPro Accounts each one with different spreads or commissions.

When doing this review I was pleased to see that a demo account is provided for beginner traders who want to practice their trading before putting any of their own money at risk.

FXTM has just added a new account to its lineup. As of April, 2016, it is offering an account that specializes in trading CFDs in shares. With the new FXTM Shares Account, traders can select more than 180 US shares with 1:33 leverage on the famous MT4 platform which ensures instant execution. Major corporations such as Apple, Facebook, Alibaba, Twitter and Microsoft are included in the lineup.

As of January 2018, FXTM is offering CFD trading on cryptocurrencies under Exinity Limited, with a leverage up to 1:10. 

FXTM Account Types (*Leverage is flexible depending on country of residence, knowledge & experience)

Features

Apart from standard Forex pairs, FXTM also offers trading for a range of other financial products such as CFDs on Commodity Futures, and CFDs on spot metals. FXTM recently expanded its product line to currency pairs, including the Chinese Yuan, as well as additional opportunities to trade spot metals paired with major currencies.

Through the FXTM Invest program, FXTM offers investors the ability to maximize the value of their time while optimizing their portfolio by following suitable Strategy Managers. There are a range of strategy managers that investors can choose from depending on their risk appetite.

In addition, the Multi Account Manager (MAM) feature offers a unique solution for professional traders who need to manage multiple accounts both simultaneously and efficiently.

Bonuses/Promotions

Exinity Limited, loves promotions and offers them generously. At the time of this writing, there were few ongoing bonuses for this entiy. There was the Loyalty Cashback (T&Cs apply) as well as the 30% Bonus (T&Cs apply).

In addition, anyone switching to FTXM from another broker will receive $4 back for every lot traded (T&Cs apply).

Under Exinity Limited, there are also several trading contests. The Wheel of fortune raffle contest (on live accounts) and the FXTM Titan Contest (on demo accounts) – T&Cs apply. No other brokers I’ve reviewed offered a promotion to traders using a demo account so this promotion is truly unique.

Forextime Limited and Forextime UK Limited currently offer only the Loyalty Program to its professional and elective professional clients (T&Cs apply).

Not sure whether you're eligible for a bonus? Here's how the different branches of FXTM operate:

- Forextime Limited (CySEC entity) provides its services to Clients who reside in EEA and South Africa.

- Forextime UK Limited (FCA entity) provides its services to Clients who reside in UK.

- Exinity Limited provides its services to Clients who reside in all other countries excluding the USA, Mauritius, Japan, Alberta, British Columbia, Quebec, Saskatchewan, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico.

Education

In the area of education, FXTM provides a host of tutorials and webinars which are available for all account holders. The tutorials are geared to both experienced traders as well as to those just wetting their feet in Forex trading and cover the basics of Forex as well as more advanced topics such as risk management and technical analysis.  These videos can even be accessed on mobile devices by scanning the QR code.

Live webinars are presented by industry experts and cover a range of subjects such as Japanese Candlesticks, Trading the Alligator and more.
FXTM also supports seminars and workshops by third-parties that facilitate easy access to the Forex opportunities in countries across the world. These seminar sessions and events are held throughout the year. Trading bonuses and other gifts are offered by Exinity Limited or FXTMPartners and traders have the opportunity to connect with other Forex enthusiasts in the trader’s home country. For their glossary, FXTM has compiled a broad and detailed list with explanations of key definitions in the simplest terms possible.

FXTM Education Center

 

Deposits/Withdrawals

Deposits to FXTM can be made via wire transfers, credit cards, debit cards, Neteller, Skrill, CashU and other e-wallets.

Withdrawals are initiated by contacting the back office during standard business hours:  07:00 - 20:00 (GMT+2) (GMT+3 during Daylight Saving Time).

Customer Support

Customer service at FXTM is through Chat, Skype, Social Media (Facebook, Telegram, WhatsApp, Viber) and telephone. The website can be viewed in 18 languages, including English, Arabic, Chinese, French, Indonesian, Spanish, Polish and Malaysian.

Conclusion

The FXTM website is a pleasure to read. The text is large and the graphics are inviting. The tabs are clearly marked and respond easily with a click. FTXM seems to cover all the necessary areas of a Forex broker in the simplest and easiest manner.

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Features

Forex Time offers traders a host of interesting features but the one I found really outstanding is its ultra- clear website that uses large fonts and colorful graphics. Navigation throughout the site is responsive and the information is presented in a manner that even beginner traders can understand without any difficulty.  The different accounts and choice of trading platforms adds to the enjoyment of opening an FTXM account while the promotions are always interesting and timely.

 

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Platforms

Trading at ForexTime is available on either MetaTrader 4 (MT4) or MetaTrader 5 (MT5) platforms. These platforms are available as Web based as well as download versions. Mobile versions of MT4 and MT5 can be installed directly on their mobiles devices and tablets.

MetaTrader 4

Through MT4 traders can create their own personal workplace, whether they are trading Forex, CFDs or Futures contracts. Fully equipped with both back-office reporting functions and front-end terminals, this trading platform gives traders access to the most essential tools and resources needed to analyze the market and to start trading.

FXTM MT4 offers a dynamic security system, use of Expert Advisors, over 50 built-in technical indicators, trading signals and multiple timeframes for trading purposes. It is also available on mobile devices.

MT4 is fast and effective, user friendly and flexible and is one of the most popular trading platforms in the Forex industry.

FXTM Trading Platforms

MetaTrader 5

By using MT5, traders can trade directly with liquidity providers using ECN technology and STP. It offers a range of extra features that analyze the market and help traders trade in any style they want.

In addition to all the features of the MT4 platform, the MT5 platform also offers different order types such as 'Fill or Kill' and 'Immediate or Cancel' as well as technical and fundamental analysis using over 79 analytical tools.

WebTrader

FTXM recently added their WebTrader platform which requires no downloading, supports MT4 integration and is available on desktop, mobile and tablet devices.

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User Reviews

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