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Benchmark
AAA
Average transaction speed (ms)
MT4/5
Full License
ForexTimeFXTM-ECN2
Influence
AA
Influence index NO.1
Speed:A
Slippage:AAA
Cost:AA
Disconnected:AAA
Rollover:B
MT4/5 Identification
Full License
Influence
AA
Influence index NO.1
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Forextime Ltd
FXTM
United Kingdom
Pyramid scheme complaint
Expose
Benchmark | AAA |
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Maximum Leverage | 1:3000 |
Minimum Deposit | $200 |
Minimum Spread | From 1.5 |
Products | FX Metals Commodities Indices FX indices Stock baskets Stock CFDs (only MT5) Stocks (only MT5) |
Currency | -- |
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Minimum Position | 0.01 |
Supported EA | |
Depositing Method | -- |
Withdrawal Method | -- |
Commission | -- |
Benchmark | AAA |
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Maximum Leverage | 1:3000 |
Minimum Deposit | $200 |
Minimum Spread | From 0.0 |
Products | FX Metals Commodities Indices FX indices Stock baskets Stock CFDs (only MT5) Stocks (only MT5) |
Currency | -- |
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Minimum Position | 0.01 |
Supported EA | |
Depositing Method | -- |
Withdrawal Method | -- |
Commission | Average of $0.4-$2 based on volume |
Capital
$(USD)
Stop Out
0.76%
Stop Out Symbol Distribution
6 months
FXTM | Basic Infromation |
Registered Country | United Kingdom |
Founded in | 2011 |
Headquarters | Cyprus, UK, Belize |
Regulated By | FCA, CYSEC, FSCA (Out of Scope Business), FSC ( offshore) |
Minimum Deposit | $10 |
Leverage | Up to 1:2000 |
Account Types | Micro, Advantage, and Advantage Plus |
Demo Account | Yes |
Trading Instruments | Forex, Commodities, Indices, Shares, Cryptocurrencies |
Trading Platforms | MetaTrader 4, MetaTrader 5, FXTM Trader |
Mobile Trading | Yes |
Islamic Account | Yes |
Payment Methods | Credit/Debit Cards, Bank Wire, E-wallets |
Minimum Spread on EUR/USD | From 0.1 pips |
Customer Support | 24/5 Live Chat, Email, Phone |
Educational Resources | Yes |
Negative Balance Protection | Yes |
FXTM, or Forex Time, is a global forex and CFD broker founded in 2011. The company is headquartered in Cyprus and is regulated by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and other regulatory bodies in various countries. FXTM offers a variety of trading instruments, including forex, commodities, indices, shares, and cryptocurrencies.
FXTM is its extensive range of account types, which cater to traders of all experience levels and preferences. The broker offers five different account types, including the Micro, Advantage, and Advantage Plus accounts, as well as demo accounts and Islamic accounts. In terms of trading fees, FXTM offers variable spreads on most of its instruments, with spreads starting from as low as 0.1 pips.
FXTM also offers multiple choices of trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These platforms are available in desktop, web, and mobile versions, which allows traders to trade on the go and from anywhere in the world.
FXTM operates under a strong regulatory frame, and it has several entities that are regulated in different jurisdictions:
Regulated Country | Regulated Authority | Regulated Entity | License Type | License Number |
![]() | CYSEC | Forextime Ltd | Market Making(MM) | 185/12 |
![]() | FCA | Exinity UK Ltd | Straight Through Processing(STP) | 777911 |
![]() | FSC | EXINITY LIMITED | Retail Forex License | C113012295 |
![]() | FSCA | EXINITY LIMITED | Financial Service Corporate | 50320 |
FXTM is a well-known broker that offers various trading services to its clients, including forex, commodities, and CFDs. Some of the pros we'll cover include their range of account types, competitive spreads, and excellent customer support, while some of the cons we'll discuss include the lack of cryptocurrency trading and high withdrawal fees.
While there are many benefits to trading with FXTM, there are also some drawbacks to consider. In this table, we'll take a closer look at the pros and cons of trading with FXTM, so you can make the right choice about whether this broker is right for you.
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FXTM offers over 1,000 tradable instruments, covering Forex Pairs, Stocks, Indices, Precious Metals, Commodities, and Cryptocurrency. However, this broker does not currently support trading on Futures, Options, and ETFs.
Tradable Assets | Supported |
Forex | ✅ |
Stock | ✅ |
Indices | ✅ |
Precious Metal | ✅ |
Commodities | ✅ |
Cryptocurrency | ✅ |
Futures | ❌ |
Options | ❌ |
ETFs | ❌ |
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FXTM offers three different types of trading accounts, which are the Micro account, the Advantage account, and the Advantage Plus account. The Micro account requires a minimum deposit of $10, the Advantage account requires a minimum deposit of $100, and the Advantage Plus account requires a minimum deposit of $500.
Each account type has its own unique features and benefits, such as different minimum deposit requirements, leverage ratios, and spreads, allowing traders to choose the one that suits them best. The Micro account is ideal for novice traders with a limited budget, while the Advantage account is suitable for experienced traders who require advanced trading tools and a competitive trading environment. The Advantage Plus account is designed for professional traders who require high-volume trading and personalized support from a dedicated account manager.
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FXTM offers demo accounts for all its account types, including Micro, Advantage, and Advantage Plus. These demo accounts allow traders to test their trading strategies in a risk-free environment using virtual funds. Demo accounts are also useful for new traders who want to learn how to trade before committing real money to live trading.
FXTM offers leverage of up to 1:2000, depending on the account type and trading instrument. The highest leverage is available for forex trading on the FXTM Pro account, while the other account types offer leverage up to 1:30 for EU traders and up to 1:2000 for non-EU traders. It's recommended to use leverage wisely and only trade with funds you can afford to lose. FXTM also offers negative balance protection, which ensures that traders can not lose more than their account balance.
For the Micro account, the spreads start from 1.5 pips, and no commission is charged. For the Advantage account, the spreads start from 1.1 pips, and a commission of $2 is charged per lot. For the Advantage Plus account, the spreads start from 0.0 pips, and a commission of $4 is charged per lot.
The spreads offered by FXTM are typically lower than those offered by many other brokers in the industry, particularly on the Advantage and Advantage Plus accounts. The Micro account, however, has slightly higher spreads, which is to be expected due to the smaller minimum deposit requirement.
Here we have created a comparison table of the average spreads and commissions offered by FXTM and some other popular forex brokers such as IC Markets, Exness, and FP Markets:
Broker | EUR/USD Spread | Commission | Minimum Deposit |
FXTM (Micro) | 1.5 pips | No commission | $10 |
FXTM (Advantage) | 0.5 pips | No commission | $100 |
FXTM (Advantage Plus) | 0.1 pips | No commission | $500 |
IC Markets (Raw Spread) | 0.1 pips | $7 round turn | $200 |
Exness (Raw Spread) | 0.3 pips | No commission | $1 |
FP Markets (Raw Spread) | 0.0 pips | $7 round turn | $100 |
Apart from trading fees, FXTM charges some non-trading fees that traders should also consider before choosing this broker. Some of the non-trading fees charged by FXTM include inactivity fee, withdrawal fee, deposit fee, and overnight fee. The inactivity fee is charged when a trader does not perform any trading activity on their account for a period of 6 months. The fee charged is $5 per month.
Withdrawal fees depend on the method used, with bank transfers attracting a higher fee compared to e-wallets.
Deposit fees are not charged for most methods, but a 2.5% fee is charged when depositing via Neteller.
Overnight fees are charged when a position is held open overnight, and they are different based on the instrument being traded.
Here is a table showing the comparison of non-trading fees charged by FXTM and some other popular forex brokers:
Broker | Inactivity Fee | Deposit Fee | Withdrawal Fee |
FXTM | $5/month after 6 months of inactivity | Free | Fees may occur |
Avatrade | $50/quarter after 3 months of inactivity | Free | Fees may occur |
IC Markets | $0 | Free | Fees may occur |
Exness | $0 | Free | Fees may occur |
FP Markets | $0 | Free | Fees may occur |
FXTM offers three chocies of trading platforms, including the popular MetaTrader 4 and 5 platforms, as well as their proprietary trading platform called FXTM Trader.
Here's a table comparing the trading platforms offered by FXTM, IC Markets, Avatrade, and Exness
Broker | Platform Types | Desktop | Web-Based | Mobile |
FXTM | MT4, MT5, FXTM Trader | ✔ | ✔ | ✔ |
IC Markets | MT4, MT5, cTrader | ✔ | ✔ | ✔ |
Avatrade | MT4, AvaTradeGO, WebTrader | ✔ | ✔ | ✔ |
Exness | MT4, MT5 | ✔ | ✔ | ✔ |
FXTM Invest is an advanced copy trading feature offered by FXTM, designed to make trading accessible to investors of all experience levels. With a low entry threshold of just $100, this platform allows users to automatically replicate the trades of experienced Strategy Managers. FXTM Invest stands out for its attractive pricing model, offering zero spreads on major FX pairs and a performance-based fee structure where investors only pay when their chosen Strategy Manager generates profits.
The process of getting started with FXTM Invest is streamlined into five simple steps: signing up or logging in to MyFXTM, selecting a Strategy Manager, opening an Invest account, making a deposit, and then watching as the system automatically copies your chosen manager's trades. This user-friendly approach, combined with the ability to maintain full control over your funds, makes FXTM Invest an appealing option for those looking to tap into the forex market with the guidance of seasoned professionals.
FXTM offers a variety of deposit and withdrawal options for its clients. Traders can deposit funds into their trading account using credit/debit cards, bank wire transfers, e-wallets, and other online payment methods.
For credit/debit card deposits, FXTM accepts Visa, Mastercard, and Maestro. There are no deposit fees for credit/debit card transactions, and funds are usually credited to the trading account instantly.
Bank wire transfers are also available as a deposit option. This method takes longer to process compared to other deposit methods and may incur charges from the bank. The minimum deposit amount for bank wire transfers varies depending on the currency selected, and it may take up to five business days for funds to appear in the trading account.
E-wallets such as Skrill, Neteller, and WebMoney are also accepted by FXTM. Deposits made through e-wallets are usually credited to the trading account instantly and are free of charge. The minimum deposit amount for e-wallet transactions varies depending on the selected e-wallet.
Withdrawals can be made using the same methods as deposits, with the exception of Mastercard. Withdrawals made through credit/debit cards may take up to three business days, while withdrawals made through e-wallets are usually processed within 24 hours. Bank wire transfers may take up to five business days for the funds to be credited to the trader's bank account.
FXTM charge withdrawal fees for some methods. Traders are advised to check the fees and processing times associated with each method before making a deposit or withdrawal.
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FXTM is known for providing excellent customer support to its clients, including live chat, email, and phone support. The customer support team is available 24/5 and is multilingual, which means clients can communicate with them in their preferred language.
FXTM also provides an extensive FAQ section on their website that covers various topics, such as account opening, deposit and withdrawal methods, trading platforms, and more. This section is helpful for clients who prefer to find answers to their questions without contacting the support team.
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FXTM offers various educational resources including webinars, seminars, articles, e-books, educational videos, and more.
Webinars and seminars are live sessions conducted by market experts and analysts who provide insights and analysis on market trends and trading strategies. The sessions cover a wide range of topics, including technical and fundamental analysis, risk management, and trading psychology. The webinars and seminars are interactive, allowing clients to ask questions and get feedback from experts.
FXTM also provides a wide range of educational articles and e-books that cover a variety of trading topics. These resources are available to all clients, regardless of their account type, and can be accessed on the FXTM website.
FXTM is a well-regulated and respected forex broker with a wide range of market instruments, competitive trading conditions, and user-friendly trading platforms. They offer various account types with reasonable minimum deposits and leverage options. FXTM's customer support is also responsive and helpful, while their educational resources can be useful for both novice and experienced traders.
However, there are also some potential drawbacks to consider. FXTM's non-trading fees, such as withdrawal fees, can be high, and their spreads can be wider than some of their competitors.
Is FXTM legit ?
Yes, FXTM is regulated by top-tier financial authorities such as the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC).
What trading instruments are available on FXTM?
FXTM offers a range of trading instruments including forex, spot metals, CFD commodities, stock CFDs, and CFDs on indices.
What types of trading accounts are available on FXTM?
FXTM offers three main types of trading accounts: the Micro account, Advantage account, and Advantage Plus account.
What is the minimum deposit required to open an account on FXTM?
The minimum deposit required for each account type on FXTM is as follows: Micro account - $10, Advantage account - $100, and Advantage Plus account - $500.
What trading platforms are available on FXTM?
FXTM offers two chocies of trading platforms including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then.
FXTM Launches the First Olympic Trading Competition: Battle for the Trading Throne!
CySEC withdraws FXTM's CIF license following the company's voluntary renunciation, marking a significant exit from the EU market for the trading firm.
"FXTM is providing services to clients in India against an RBI warning." a user from India filed a complaint against FXTM dated January 6, 2024 On Wikfx,.
Forextime(FXTM), a forex company with a high reputation in the United Kingdom, has more than 10 years of forex business. FXTM not only owns a strong customer service team for traders but also has a very sound regulatory system.
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