FXTM Review 2023: Is FXTM ForexTime Legit or a Scam ️

Alerts can be delivered via audio, an email, or push notification to a mobile device. FXTM offers MetaTrader 4 for desktop, which includes advanced functions such as copy trading and automated trading. FXTM is regulated in multiple jurisdictions across the globe. The UK entity of FXTM is regulated by the Financial Conduct Authority . UK clients benefit from negative balance protection, segregated funds, and a compensation fund in the event of broker insolvency. When trading forex and CFDs, it is crucial to know a broker’s strengths and weaknesses.

See how FXTM compares to the leading Forex brokers by reading one of the reviews below. If you are trading with FXTM using MetaTrader 4 or MetaTrader 5, you can also elect to use the MT4 or MT5 suite of apps for mobile trading needs. The FXTM trading platform uses MetaTrader 4 and MetaTrader 5 to execute trading operations. It requires a minimum initial account deposit of £200 or equivalent. Stock trading only available to non-EU traders and only at the professional level . Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

At FXTM they have multilingual customer support and technical support teams. Furthermore, there are personal account managers which are assigned to the traders and are readily available when they need help. Furthermore, during FXTM review we found out that this broker offers flexible leverage on forex trading, depending on country of residence as well as knowledge and experience. The spreads depend on which trading platform is used and range from 1.3 to 0.1 pips on ECN MT4. ForexTime users can trade the markets through the MT4 or the MT5 platforms. The MetaTrader4 platform is the more popular among the two, but the MT5 interface offers more advanced features and trading flexibility over the MT4.

Forex Brokers

FXTM warns all potential traders that Forex and CFDs trading always carries a high level of risk and may not be suitable for all investors. On top of that you can also update your trading strategy by referring to various webinars, seminars and short educational videos, as well as a user- friendly guide to different market indicators and trading tips. On our next screenshot you may take a look at the FXTM’s CySEC license. Have enough relevant experience in the financial services industry. AtoZ Markets’ FXTM review intends to deliver a complete product range as well as client feedback about CySEC regulated Forex broker ForexTime.com. Please beware that FXTM was previously branded as ForexTime.

At the time of this review, FXTM maintains a refer-a-friend campaign. Traders and their referrals can each get $50 for a referral. I like that Forextime continues to adjust to market and regulatory changes, ensuring traders maintain a competitive edge. The degree of transparency is another positive I want to point out. Big Four accountancy PricewaterhouseCoopers Limited audits published statistics per International Standard on Assurance Engagements 3000.

Also, you may select spot metal CFDs, share CFDs on over 170 major companies, CFDs on Commodities, and CFDs on Indices. Starting to trade with FXTM, you will first need to open an account and deposit funds. Once your account has been approved, you can then make a deposit using one of the many methods available. Based on our research we found out that FXTM offers a user-friendly platform with all the tools and resources you need to trade successfully. FXTM or Forex Time has been named as one of the world’s fastest-growing and best Forex and CFD brokers, with a large number of clients and quality offering overall. The broker establishes its core on reliable trading conditions and detailed education and brings trading across the world with its accessible trading globe, regardless of the trader’s knowledge.

FXTM Account Types Comparison

A client who follows the trades of a Strategy Manager is called an Investor and usually pays between 20% and 30% of the profit for the service. A nice perk with FXTM is the fact that the broker does not have a rollover fee, meaning that you won’t be charged anything if you opt to keep a position open overnight. And that basically means that all FXTM accounts are suitable for Muslim traders, who, because of the Sharia Law are not allowed to pay or collect interest under any pretext. By trading with FXTM, you will be able to take advantage of a variety of deposit methods. These include bank transfers, credit/debit cards, such as Visa, MasterCard, or Maestro, and various eWallets , such as Skrill and Neteller. It is also possible to deposit funds via Western Union and other local payment methods depending on your region, particularly in Asia, Africa, and South America.

ForexTime prides itself on offering excellent trading terms. There is fast execution and the availability of micro and mini lots. With FXTM, traders are able to trade a nice range of instruments. Although ForexTime is one of the newer brokers, it has been growing at a fast pace and has earned numerous awards in it’s lifetime. ForexTime is well regarded in the industry with competitive spreads and is regulated in the UK by the FCA and Cyprus by CySec. FXTM does not charge internal fees, but third-party payment processor costs may apply.

But if you are eligible, favor an easy-to-navigate interface that integrates with industry-standard software and want to trade with a heavily regulated online broker, you could do much worse than FXTM. Their customized MetaTrader platforms earn high marks from traders – more than 2 million to date have used the platform. FXTM periodically hosts trading contests that are open to traders of all skill and experience levels. Just for signing up and opening a live account, you can receive a $30 trading credit.

FXTM Reviews

Regulations are in place to ensure that the broker operates with the upmost fairness and integrity whilst they must comply to strict regulatory rules. Strict regulation in multiple jurisdictions can help to give clients peace of mind that they are using a trusted and transparent broker. Once all the documents had been received, our account was ready for trading within one day. Next, we were required to fill in our financial information and answer questions about our trading knowledge.

Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. Before a trader decides to trade forex or any financial instrument, they must carefully consider their experience level, investment objectives, market sentiment, and risk appetite. Note that this review of FXTM does not provide investment advice, so traders must be careful while using Stock CFDs. FXTM stock trading gives access to direct liquidity pricing and real-time data for NASDAQ and NYSE indices. Note that stock trading activities are available only on the FXTM MetaTrader 5 platform. Trading account holders with a minimum balance of £250,000 can become eligible to receive spreads of institutional levels.

The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. All of the client funds are kept in EU banks of the top tier. FT Global never uses customer funds in any investment, including operations, to ensure the protection of fund at all times. FT Global also has multiple bank partnerships to add a level of security to client funds. ForexTime provides technical and trading support as well, exclusive privileges for VIP clients, and makes it easy to open accounts.

When you use FXTM Trading Signals, you can choose a strategy based on your trading style and risk profile. Thanks to the ability to use a protective stop-loss and choose profit levels, you can plan your trades. There is also the option to buy or sell as a way to boost profit potential. There are actually FXTM Trading Signals, which are all created to interpret fluctuations in key financial instruments based on price. It also features insights that can help you develop a trading strategy.

Scalping and hedging are allowed and the commissions start at just $4. You can view specific information for forex, spot metals, CFD US shares, spot commodities, stock trading, spot indices. You will see information such as minimum or typical spreads, pip values, swaps, and trading sessions.

Forextime does not levy internal fees, but traders may face third-party processing costs. I recommend checking them to determine the most convenient and cost-effective solution. Processing times also vary based on method and rank from instant to ten business days.

• I found them to have an ever-growing collection of tutorials and articles for both beginner and experienced traders alike with online webinars and local seminars offered to clients.
• It was also named ‘The Most Innovative Broker’ of 2018 and ‘The Best Broker in Russia’.
• There are free FXTM eBooks, including options for all skill levels from advanced traders to beginners.
• Those who prefer videos over reading will appreciate the daily market analysis videos.

The choice of fxtm review, and index CFDs are limited, but the overall choice of trading instruments is competitive. I also like that Forextime offers 452 stocks for direct investments, albeit only US-listed ones. In terms of tradable assets, FXTM will best suit Forex and US equity traders. As one of the good advantages,FXTM covers almost the globe, so traders from various countries can sign in, also with thelowest spreads.

Unfortunately this https://forexhero.info/ doesn’t have them but GO Markets do provide both free of charge. Daily Market Analysis is FXTM’s very own news portal that offers detailed market analysis and insights to keep you in the loop with the latest market happenings. They analyse price movements based and technical and fundamental analysis across a range of global markets. The Market Analysis team are regularly quoted in major international publications, including BBC, CNN, CNBC, Bloomberg, The Wall Street Journal, Financial Times, Reuters and Forbes. I found these to be really insightful and they helped me become aware of some market event that I may have otherwise overlooked. If you are interested in copy trading, FXTM also has you covered.

How to start your FXTM account?

You must understand that Forex trading, while potentially profitable, can make you lose your money. CFDs are leveraged products and as such loses may be more than the initial invested capital. Trading in CFDs carry a high level of risk thus may not be appropriate for all investors. The customer support department offers assistance in a wide variety of different languages and access platforms include LiveChat, Messenger, WhatsApp, Viber, Facebook, Callback and Telegram. The FXTM Invest Strategy Manager account is a relatively new offering. FXTM’s copy trading program allows less skilled forex investors to mirror your trades and then you earn a percentage of their profits.

Spreads and commissions are outlined on the Account Comparison page. The Client Agreement can be found on the Account Opening Agreements page. The background and history of the company are broadly outlined on the About Us page. Overall, we rate FXTM as having a high level of transparency, better than average for the industry.

How do you withdraw money from FXTM?

It upgrades MT4 with six plugins plus its Pivot Points Strategy, featuring live updates and commentary from the FXTM Head of Education, and the mobile app is user-friendly and easy to use. They ensure traders have an edge versus the out-of-the-box versions most brokers offer. FXTM maintains 63 currency pairs, 0 cryptocurrency pairs, 8 commodities, 16 index CFDs, 1,266 equity CFDs, 452 US-listed stocks, five stock baskets, and six FX indices.

It is not a surprise that FXTM has received the accolade of being the fastest growing broker in recent years, and we will evaluate the service further in this ForexTime review. Overall this FXTM review reveals the platform offers a well-rounded menu of research, analysis, current news and education to trading customers. FXTM exclusively uses the MetaTrader family of apps for mobile trading. While the brokerage also offers its own in-house FXTM app for iOS/Apple and Android, this app is designed to be used only for account maintenance and account syncing.

Account

A lucrative deposit bonus of 30% is offered to traders who make a minimum deposit of $100. The maximum bonus that can be claimed from this offer is $150, which is automatically credited to the account. FXTM has developed a customized mobile trading platform known as FXTM Trader that gives access to the financial markets from anywhere, anytime, on the go. The FXTM Trader app can be downloaded for free on both iOS & Android devices.

I appreciate how they are multilingual as it shows the broker is catering to the global trading community. FXTM provides a strong selection of assets to trade in across several markets. In the forex market you can trade in more than 50 currency pairs. This selection includes major, minor, and some exotic forex pairs. Beyond trading forex, you can also trade commodities, indices, stocks, and crypto assets through FXTM as CFDS. There are a handful of assets, between 2 and 5 available in each of these categories outside forex.

Our broad range of services enable you to get the best guidance, advice and resources to build a richer future. The FXTM spreads look pretty attractive starting from 1,5 pips with the Micro and the Advantage Plus Accounts without a trading commission being taken. ForexTime provides technical and trading support as well as exclusive privileges for VIP clients and makes it easy to open accounts. The customer support team provides multilingual service, as do the personal account managers. This allows FXTM to attract native speakers of a wide range of languages.

Copy-trading and automated trading are also only available on the MT4 desktop platform. MetaTrader is also popular due to its copy trading and automated trading features. Traders can set up a list of their favourite instruments and follow live quotes in a market watch panel. FXTM charges a monthly inactivity fee of 5 EUR/USD/GBP/NGN to accounts that have been dormant for six consecutive months.