FXTM Review 2024

Introduction

FXTM (ForexTime) is a globally recognized forex and CFD broker, established in 2011 and headquartered in Limassol, Cyprus. FXTM has expanded its presence worldwide, earning a solid reputation for reliability and innovation in the financial trading industry. The broker offers a wide array of financial instruments and is dedicated to providing high-quality trading services, making it a preferred choice for traders globally.

Expert Analysis

FXTM stands out in the competitive brokerage landscape with its comprehensive range of trading services and strong commitment to client satisfaction and transparency. Our detailed analysis of FXTM’s offerings reveals a broker focused on delivering a secure and efficient trading environment.

FXTM operates under the regulation of several prominent authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Sector Conduct Authority (FSCA) in South Africa. This multi-regulatory oversight ensures a high level of trust and safety for traders’ funds.

The broker provides a diverse selection of trading instruments, encompassing forex, indices, commodities, and cryptocurrencies. This diversity enables traders to diversify their portfolios and explore various market opportunities. FXTM’s trading platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), are renowned for their reliability, advanced features, and user-friendly interfaces.

FXTM places significant emphasis on client education, offering a wealth of resources such as webinars, tutorials, and market analysis. These resources are designed to enhance traders’ knowledge and skills, empowering them to navigate financial markets effectively.

The Pros and Cons

Pros

✔️ Highly regulated by FCA, CySEC, and FSCA

✔️ Competitive spreads and low trading fees

✔️ Advanced and user-friendly trading platforms (MT4 and MT5)

✔️ Comprehensive educational resources

✔️ Multilingual customer support

Cons

❌ Limited cryptocurrency offerings compared to some competitors

❌ Inactivity fees on some accounts

Is FXTM Right for You?

FXTM caters to a broad spectrum of traders, from beginners to seasoned professionals. With flexible account options, extensive educational materials, and competitive trading conditions, FXTM is particularly suitable for new traders. Experienced traders will appreciate the advanced trading tools, tight spreads, and reliable execution provided by FXTM.

What Sets FXTM Apart?

Several factors distinguish FXTM from other brokers:

• Strong Regulatory Framework: Regulated by FCA, CySEC, and FSCA, ensuring adherence to stringent regulatory standards.
• Competitive Trading Conditions: FXTM offers competitive spreads, low fees, and a variety of account types to suit different trading styles.
• Advanced Trading Platforms: MT4 and MT5 platforms support advanced trading strategies and offer a seamless trading experience.
• Comprehensive Educational Resources: FXTM provides extensive educational resources to empower traders at all levels.
• Multilingual Customer Support: Efficient customer support available in multiple languages enhances accessibility and responsiveness.

Main Features

Trust and Safety

FXTM (ForexTime) places a strong emphasis on trust and safety, supported by rigorous regulatory oversight and robust client fund protection measures. The broker adheres to stringent regulatory standards to ensure the security of client funds, maintaining them in segregated accounts that are separate from operational funds. This segregation serves to safeguard clients’ funds against potential insolvency risks.

Regulation

FXTM operates under the regulation of multiple esteemed regulatory authorities, including:

• Financial Conduct Authority (FCA): License number 777911 (Tier-1 regulator)
• Cyprus Securities and Exchange Commission (CySEC): License number 185/12 (Tier-1 regulator)
• Financial Sector Conduct Authority (FSCA): FSP No. 46614 (Tier-1 regulator)

Is FXTM Safe to Trade With?

FXTM offers a secure trading environment underpinned by its adherence to stringent regulatory frameworks. The broker ensures client funds are segregated from its own operational finances, reducing the risk of misappropriation. Moreover, FXTM provides negative balance protection, ensuring that traders cannot lose more than their account balance.

FXTM operates through various entities, each regulated by reputable financial authorities. For instance, clients trading through the UK entity benefit from robust regulatory oversight by the FCA, which includes participation in the Financial Services Compensation Scheme (FSCS). This scheme provides additional protection to clients in the event of broker insolvency, covering up to a certain amount of their funds.

Similarly, clients trading under the Cyprus entity are regulated by CySEC, which adheres to the European Union’s MiFID II directives, ensuring high standards of investor protection and market integrity. These regulatory measures underscore FXTM’s commitment to maintaining a secure trading environment across its global operations.

In addition to regulatory compliance, FXTM is a member of industry bodies that enhance its credibility and provide mechanisms for dispute resolution. This membership further reinforces FXTM’s commitment to transparency and client protection, contributing to its reputation as a trustworthy broker in the forex and CFD trading industry.

Overall, FXTM provides a secure trading environment with varying levels of regulatory protection based on the jurisdiction in which clients choose to trade. The broker’s adherence to stringent regulatory standards, coupled with its comprehensive client fund protection measures, positions it as a reliable choice for traders seeking a safe and transparent trading experience.

Commission and Fees

FXTM offers a transparent fee structure that caters to various trading preferences and strategies. The broker operates primarily on a spread-based model, where traders pay the difference between the bid and ask prices. 

Commission and Fees Overview

• Spread-Based Trading: FXTM provides competitive spreads without charging additional commissions on most trades. Spreads vary depending on market conditions and the type of account.
• Variable Spreads: During times of high market volatility or specific market conditions, spreads may widen, impacting trading costs.
• Swap Rates: Overnight positions incurring swap rates vary by currency pair and the direction of the trade, reflecting the interest rate differentials between the currencies.
• Account Types: FXTM offers multiple account types to suit different trading needs, such as Standard, Cent, ECN, and more. Each account type comes with its own fee structure and trading conditions, allowing traders to choose based on their trading style and preferences.
• Transparency: Detailed fee information, including spreads and any applicable charges, is readily available on the FXTM website. This transparency ensures that traders are well-informed about the costs associated with their trading activities.

Overall, FXTM provides a competitive fee environment with a focus on transparency, enabling traders to manage their trading costs effectively across various market conditions.

Deposit & Withdrawal Options

FXTM offers a diverse range of deposit and withdrawal options, ensuring flexibility and convenience for traders worldwide. Below is you may see into details FXTM’s deposit and withdrawal methods:

Deposit Options: FXTM supports a variety of deposit methods, including bank wire transfers, credit/debit cards (Visa, Mastercard), e-wallets (Neteller, Skrill, Alipay), online banking (NganLuong, Perfect Money), and cryptocurrencies (Bitcoin, Ethereum). These options cater to different preferences and geographical locations, allowing traders to fund their accounts securely and efficiently.

Withdrawal Options: Traders can withdraw funds from their FXTM accounts using the same methods as deposits, ensuring ease of use and flexibility. Withdrawals are processed promptly, and FXTM aims to provide fast transaction times to meet client needs. It’s important to note that withdrawal methods may be subject to specific conditions and fees, which are detailed on the FXTM website.

Security and Reliability: FXTM prioritizes the security of client funds and adheres to strict regulatory standards. Client funds are segregated from the company’s operational funds, and advanced encryption technology safeguards all transactions. This commitment to security enhances trust and confidence among traders using FXTM’s deposit and withdrawal services.

Additional Considerations: While FXTM offers a comprehensive range of payment methods, availability may vary based on the trader’s country of residence. Traders should review specific details regarding fees, processing times, and minimum/maximum transaction limits associated with each payment option on the FXTM website or by contacting customer support.

Overall, FXTM provides robust deposit and withdrawal options, combining security, convenience, and flexibility to meet the diverse needs of global traders effectively.

Tradable Instruments

FXTM offers a wide range of tradable instruments across various asset classes, providing diversified opportunities for traders. These include:

Forex (FX) Pairs: FXTM offers trading in major, minor, and exotic currency pairs. Forex trading allows traders to speculate on the exchange rate movements between different currencies.

Commodities: Traders can access commodities such as gold, silver, oil, natural gas, and other metals. Commodities provide opportunities for diversification and hedging against inflation or geopolitical risks.

Stock Indices: FXTM provides trading on major stock indices from around the world, including the S&P 500, Dow Jones Industrial Average, NASDAQ, FTSE 100, DAX 30, and Nikkei 225. Index trading allows traders to speculate on the performance of entire stock markets.

Shares (Stocks): FXTM offers trading in shares of individual companies listed on major stock exchanges. Traders can buy and sell stocks of companies they are familiar with or believe have growth potential.

Cryptocurrencies: FXTM enables trading in popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more. Cryptocurrency trading allows traders to participate in the volatile digital asset markets.

Bonds: FXTM provides trading in government and corporate bonds. Bond trading offers opportunities for fixed-income investments and diversification in relatively low-risk assets.

Futures: Traders can access futures contracts on various underlying assets, including commodities, indices, and currencies. Futures trading allows speculation on future price movements and hedging strategies.

Contract for Difference (CFDs): FXTM offers CFDs across all the aforementioned asset classes. CFDs enable traders to speculate on price movements without owning the underlying asset, providing flexibility and leverage in trading strategies.

Overall, FXTM’s diverse range of tradable instruments caters to the needs and preferences of different types of traders, from beginners to experienced investors looking to diversify their portfolios and capitalize on global market opportunities.

What are Bonds?

Bonds are debt securities issued by governments, municipalities, or corporations to raise capital. When an entity issues a bond, it essentially borrows money from investors who purchase the bond. In return, the issuer promises to repay the borrowed amount (the principal) at a specified future date, known as the maturity date.

Key features of bonds include:

• Issuer: Bonds can be issued by governments (government bonds or sovereign bonds), municipalities (municipal bonds), or corporations (corporate bonds).
• Coupon Rate: Bonds typically pay periodic interest payments to bondholders, known as coupon payments. The coupon rate is the annual interest rate paid on the bond’s face value (or par value). Coupon payments are usually made semi-annually or annually.
• Maturity Date: Bonds have a fixed maturity date, at which point the issuer repays the bondholder the principal amount (face value) of the bond. Maturity dates can range from a few months to several decades, depending on the type of bond.
• Face Value: This is the amount that the bondholder will receive at maturity. It is also referred to as the par value or principal amount.
• Market Price: Bonds can be bought and sold on the secondary market before their maturity date. The market price of a bond can fluctuate based on changes in interest rates, credit ratings of the issuer, and market demand.
• Credit Rating: Bonds are rated by credit rating agencies based on the issuer’s creditworthiness. Higher-rated bonds (e.g., AAA, AA) are considered safer investments with lower risk of default, while lower-rated bonds (e.g., BB, B) carry higher risk and usually offer higher yields to compensate for the increased risk.

Investors often purchase bonds for income generation through coupon payments and as a relatively safer investment compared to stocks. Bonds are integral to global financial markets, providing governments and corporations with a means to finance projects and operations while offering investors a variety of fixed-income investment options.

What Can You Trade with FXTM?

This table provides an overview of the different asset classes available for trading with FXTM, including major and minor forex pairs, global indices, popular cryptocurrencies, key commodities, major shares, and government bonds. Each asset class offers a range of instruments that traders can choose from to diversify their portfolios and pursue various trading strategies.

Account Types

FXTM offers a variety of account types designed to cater to different trading needs and preferences. Here are the main account types offered by FXTM:

• Standard Account: Suitable for new traders or those who prefer fixed spreads. Minimum deposit requirement varies based on the region. Offers fixed spreads starting from 1.5 pips. Available in both USD and EUR base currencies.
• Cent Account: Designed for beginners or traders looking to test strategies with smaller trade sizes. Account balance displayed in cents rather than dollars. Minimum deposit requirement varies based on the region. Variable spreads starting from 1.5 pips.
• Stock CFDs Account: Specifically for trading Stock CFDs (Contracts for Difference) only. Offers direct access to global equity markets with leverage. Ideal for traders interested in individual stocks rather than traditional forex pairs.
• ECN Account: Provides trading on ECN (Electronic Communication Network) with floating spreads from 0.1 pips. Suitable for advanced traders and scalpers who require tight spreads and fast execution. Commission charges apply per standard lot traded.
• ECN Zero Account: Similar to the ECN Account but with zero spreads available on some currency pairs. Charges a commission per standard lot traded. Ideal for traders seeking lower trading costs and willing to pay a commission for zero spreads.
• FXTM Pro Account: Tailored for professional traders, institutions, and high-volume traders. Offers deep institutional-grade liquidity with market execution. Customizable trading conditions with competitive spreads and low commissions. Minimum deposit requirement is higher compared to other account types.

Each account type offered by FXTM comes with its own set of features, trading conditions, and suitability for different trading styles and experience levels. Traders can choose the account type that best aligns with their trading objectives and risk tolerance.

Registration and Account Opening

To register and open an account with FXTM, follow these step-by-step instructions:

1. Visit the FXTM Website: Go to the official FXTM website. Ensure you are accessing the secure and official website to prevent any phishing attempts.
2. Click on ‘Register’ or ‘Open Account’: Look for the ‘Register’ or ‘Open Account’ button prominently displayed on the homepage or in the top menu bar. Click on it to initiate the account opening process.
3. Select Account Type: FXTM offers different account types as outlined earlier (Standard, Cent, ECN, ECN Zero, and FXTM Pro). Choose the account type that best suits your trading needs and click ‘Open Account’ under the selected account type.
4. Fill in Personal Information: You will be directed to a registration form where you need to provide personal information such as your full name, email address, country of residence, and phone number. Ensure all information is accurate and up-to-date.
5. Set Login Credentials: Create a username and password that you will use to access your trading account. Ensure your password is strong and includes a combination of letters, numbers, and special characters for security.
6. Verify Identity and Address: Upload copies of the required documents to verify your identity (e.g., passport, national ID, or driver’s license) and proof of address (e.g., utility bill or bank statement). These documents are necessary to comply with regulatory requirements.
7. Agree to Terms and Conditions: Review and accept FXTM’s terms and conditions, including risk disclosure statements and privacy policy. Ensure you understand the terms of service before proceeding.
8. Submit Application: Double-check all the information you have provided and click on the ‘Submit’ or ‘Open Account’ button to send your application for review.
9. Account Verification: Once your application is submitted, FXTM will typically verify your documents and application within a few business days. You may receive an email confirmation once your account is verified and activated.
10. Fund Your Account: After verification, log in to your FXTM account using the credentials you created. Navigate to the deposit section and choose your preferred funding method (e.g., bank transfer, credit/debit card, e-wallet). Follow the instructions to fund your account with the minimum required deposit amount.
11. Start Trading: Once your account is funded, you can start trading immediately. Explore FXTM’s trading platforms, place trades, and manage your account directly from the platform of your choice.

By following these steps, you can successfully register and open an account with FXTM to begin your trading journey in the forex and CFD markets.

Restricted Countries

FXTM imposes restrictions on residents of several countries from accessing its services due to regulatory requirements and internal policies. The restricted countries typically include jurisdictions such as the United States, Japan, Canada, Algeria, Ecuador, Iran, North Korea, Myanmar, Syria, Sudan, Cuba, and Vanuatu. These restrictions aim to ensure compliance with local regulations and maintain operational integrity.

Trading Platforms

FXTM offers a range of trading platforms to cater to the diverse needs of traders, including both MetaTrader platforms and their proprietary platform. Here are the trading platforms available:

• MetaTrader 4 (MT4): Widely recognized and preferred by many traders globally. Features advanced charting tools, technical analysis, and automated trading capabilities through Expert Advisors (EAs). Available for desktop, web, and mobile devices (iOS and Android).
• MetaTrader 5 (MT5): Offers similar functionalities to MT4 but includes additional features such as more timeframes and order types. Suitable for trading a wider range of financial instruments including stocks and commodities. Available for desktop, web, and mobile devices (iOS and Android).
• FXTM Trader (Proprietary Platform): Specifically designed by FXTM for a seamless trading experience. Provides easy access to forex and CFD markets, with user-friendly navigation and trading tools. Available for mobile devices (iOS and Android).

These platforms offer traders flexibility and robust tools to execute trades efficiently across various devices and operating systems.

Key Aspects of the Platform

FXTM (ForexTime) stands out in the competitive brokerage industry with several key aspects that appeal to traders worldwide:

• Regulation and Safety: FXTM operates under stringent regulatory frameworks, including licenses from top-tier authorities like the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC). This ensures high standards of client fund protection and regulatory compliance.
• Trading Platforms: FXTM offers a variety of trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and their proprietary FXTM Trader platform. These platforms are renowned for their reliability, advanced charting capabilities, and support for automated trading strategies.
• Range of Instruments: Traders can access a broad spectrum of financial instruments through FXTM, including major, minor, and exotic forex pairs, indices, commodities, cryptocurrencies, and shares. This diversity allows traders to build diversified portfolios and capitalize on various market opportunities.
• Account Types: FXTM provides multiple account types tailored to different trading strategies and preferences, such as Standard, Cent, ECN, and ECN Zero accounts. Each account type offers unique features like competitive spreads, commission structures, and minimum deposit requirements.
• Educational Resources: FXTM is committed to trader education, offering a wealth of resources including webinars, seminars, articles, and educational videos. These resources aim to enhance traders’ knowledge and skills, empowering them to make informed trading decisions.
• Customer Support: FXTM offers efficient customer support services available 24/5 in multiple languages. Traders can access support via phone, email, live chat, and dedicated support channels for account-related inquiries and technical assistance.
• Market Research and Analysis: The broker provides comprehensive market research and analysis tools, including daily market commentary, economic calendars, trading signals, and market news updates. These tools assist traders in staying informed about market trends and making strategic trading decisions.

Overall, FXTM distinguishes itself through its commitment to regulatory compliance, technological innovation, diverse product offerings, robust educational resources, and dedicated customer support, making it a preferred choice for traders seeking a reliable and comprehensive trading experience.

Research and Education

FXTM (ForexTime) provides a comprehensive array of research and educational resources tailored to traders aiming to improve their trading skills and stay informed about the markets.

Research

FXTM offers traders a variety of research tools and insights, including:

• Market Analysis: Daily and weekly market analysis reports covering major financial instruments such as forex, commodities, and indices. These reports provide insights into current market conditions and potential trends.
• Technical Analysis: Detailed technical analysis reports that help traders understand price movements, identify key levels, and anticipate market movements based on chart patterns and indicators.
• Economic Calendar: A detailed economic calendar that outlines upcoming economic events, data releases, and central bank meetings. This helps traders anticipate potential market volatility and plan their trading strategies accordingly.
• Market News: Real-time news updates from global financial markets, offering insights into breaking news, geopolitical events, and their impact on financial instruments.

Education

FXTM is committed to educating traders of all levels with a variety of educational resources:

• Webinars: Regularly scheduled webinars conducted by market experts, covering a wide range of topics including trading strategies, technical analysis techniques, risk management, and more. These webinars are interactive and provide participants with the opportunity to ask questions and interact with presenters.
• Articles and Tutorials: In-depth articles and tutorials covering various aspects of trading, from beginner basics to advanced strategies. Topics include forex trading fundamentals, platform tutorials, trading psychology, and more.
• Educational Videos: Video tutorials that visually explain trading concepts, platform features, and trading strategies. These videos cater to different learning styles and provide practical insights into trading techniques.
• Ebooks: Comprehensive ebooks on forex and CFD trading, risk management, and market analysis. These ebooks are designed to be informative and practical guides for traders looking to deepen their understanding of the markets.
• Glossary and FAQ: A glossary of trading terms and an extensive FAQ section that clarifies common questions about trading, platforms, and market dynamics.

Overall, FXTM’s research and education offerings are structured to empower traders with the knowledge and tools necessary to make informed trading decisions and enhance their trading skills over time.

FAQs

What is FXTM?
FXTM (ForexTime) is a global online forex and CFD broker that offers trading services in currencies, commodities, indices, and cryptocurrencies.

Is FXTM regulated?
Yes, FXTM is regulated by multiple reputable financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Sector Conduct Authority (FSCA) in South Africa, among others.

What trading platforms does FXTM offer?
FXTM provides access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are popular and widely-used trading platforms known for their advanced charting tools, technical analysis capabilities, and automated trading options.

What account types does FXTM offer?
FXTM offers a variety of account types tailored to different trading needs, including Standard, Cent, ECN, and FXTM Pro accounts. Each account type has distinct features such as minimum deposit requirements, spreads, and leverage options.

How can I open an account with FXTM?
To open an account with FXTM, you need to visit their official website, click on the ‘Register’ or ‘Open Account’ button, and follow the steps to fill out the registration form. You’ll need to provide personal information, choose an account type, and complete the verification process.

What are the deposit and withdrawal methods supported by FXTM?
FXTM supports a variety of deposit and withdrawal methods, including bank wire transfers, credit/debit cards (Visa/Mastercard), e-wallets (Neteller, Skrill), and other online payment systems. The availability of specific methods may vary based on your country of residence.

Does FXTM offer demo accounts?
Yes, FXTM provides demo accounts that allow traders to practice and familiarize themselves with the trading platforms and market conditions without risking real money. Demo accounts are typically available for an unlimited period and come pre-loaded with virtual funds.

What are the trading hours for FXTM?
FXTM offers trading 24 hours a day, 5 days a week for most instruments, aligning with the standard trading hours of global financial markets. Specific trading hours may vary depending on the asset class and market holidays.

Does FXTM offer educational resources for traders?
Yes, FXTM provides a range of educational resources including articles, tutorials, webinars, and seminars aimed at both novice and experienced traders. These resources cover topics such as trading strategies, market analysis, risk management, and platform tutorials.

How can I contact FXTM customer support?
FXTM offers customer support via live chat, email, and telephone. Contact details can typically be found on their official website under the ‘Contact Us’ or ‘Support’ section. Support is available in multiple languages to assist with account-related queries, technical issues, and general inquiries.

Customer Support

FXTM maintains a customer support team that is accessible and responsive to trader inquiries and issues. They offer multiple channels for support, including:

Live Chat: A popular option for quick questions and immediate assistance. Live chat is typically available directly on their website or trading platforms. As for its response time, in generally it offers the quickest response times, often within minutes during regular business hours.

Email Support: Traders can reach out via email for more detailed inquiries or issues that may require documentation or follow-up. Responses via email may take slightly longer, typically within 24 hours during weekdays.

Phone Support: A direct line for urgent matters or for traders preferring direct communication over the phone. It offers an immediate assistance during operating hours.

FAQ and Help Center: A comprehensive resource providing answers to common questions about accounts, trading platforms, funding, and more.

Overall Impression

Overall, FXTM is known for providing timely and helpful customer support across its various channels. Traders can expect efficient assistance for routine inquiries and prompt resolution of issues, contributing to a positive customer service experience. Response times can vary based on the complexity of the query and the volume of inquiries at any given time. However, FXTM strives to maintain efficient response times:

Conclusion

In summary, FXTM emerges as a well-regulated and respected broker in the industry, offering a comprehensive range of trading services and resources. Regulated by multiple authorities including CySEC and FSCA, FXTM provides traders with a secure trading environment and adherence to stringent regulatory standards. The platform’s emphasis on research tools, including market analysis and economic calendars, equips traders with the insights needed for informed decision-making. Coupled with a robust educational suite featuring webinars, tutorials, and ebooks, FXTM supports traders at every skill level in their trading journey. With efficient customer support channels ensuring timely assistance, FXTM solidifies its position as a reliable choice for traders seeking a reputable broker.

Information and Features

Trading Features

Further Information

Contact Information