FXTM Forex Time Review – Top Best and Most Trusted Forex Trading Broker in the World, Choose from more than 3000+ including forex, stocks, commodities, indices and crypto.
Broker FXTM (pronounced “ForexTime“) started in 2011. It provides an opportunity to make a profit through active trading or investment programs. The company is regulated by CySEC (Cyprus Securities and Exchange Commission, 185/12), South African FSCA (Financial Sector Supervision Authority, 46614), UK FCA (Financial Conduct Authority, 777911), and FSC (Mauritius Financial Supervisory Commission, C113012295). The broker has received many awards, including “Best Trading Conditions” (2018, 2019) and “Most Innovative Broker” (2018).
Over 2 million traders worldwide cooperate with ForexTime (FXTM). The minimum deposit on the Micro account is $10, which allows novice traders to master the basics of trading and study the operational principles of the Forex market with comfort and without large investments.
Expert Review of FXTM
The Traders Union has cooperated with FXTM for several years and during this time the broker has shown itself to be a partner who faithfully fulfills its obligations and Trading conditions in the company are optimal. Clients are presented with various trading accounts designed for both novice and professional traders. For investors, the broker rates its managers based on various factors including their risk levels.
ForexTime claims to cooperate with both newcomers to the foreign exchange market and professionals who create their own trading strategies. So far there have been no serious complaints about the company's work. All traders' questions are promptly answered by the FXTM support team.
The site’s interface allows traders to quickly assess all the broker's capabilities and its trading conditions are suitable for active trading and investment offers. The company has several advantages that make it competitive, however, some nuisances like delayed withdrawals and too few investment programs do not allow the broker to take a leading position in the Traders Union rating.
ForexTime is a reliable and proven broker and is popular among Traders Union clients. The broker provides transparent trading terms, qualified support to its clients and allows them to start working in Forex with minimal investments. Moreover, FXTM offers the copying trades service, FXTM Invest. With the help of this service, both novice and professional investors can get passive income by investing money in the trading strategies of experienced traders.
Investment Programs, Available Markets and Products of the Broker
The broker is focused on cooperation with users who are engaged in both active and passive trading. For the latter, the company provides a service for copying transactions, which allows you to receive income without being a trading guru. The broker rates its managers based on their profitability, risk profile, and trading strategy.
FXTM (Forex Time) Invest
To get started and make profits investors need only to register, choose a trader, and copy his transactions. The user can make decisions based on the profitability of trading with a specific manager and, if necessary, select another manager. Investors pay a commission to managers only for successful transactions.
Features of the FXTM Invest trade copy service:
- the ability to choose a trader based on your goals, trading style, desired profitability, and risk level; there is a special filter included in the rating system;
- copying transactions of several managers to minimize risk and select an effective strategy;
- the managers' ratings are automatically updated and show statistics on several parameters.
The service enables passive earnings not only for investors but also for professional traders. In ForexTime, a trader can become a manager, whose trades can then be copied by investors, and thereby receive additional income for his work.
With FXTM Invest, investors have access to over 5,000 trading strategies to copy trades. You can start investing with $100. Moreover, the broker allows investors to pay a commission only for profitable trades.
FXTM affiliate program
- Refer a friend. For each new invited client, the partner receives $50.
Any trader who has an account with FXTM can become a broker's partner. In the personal account of each user, there is an individual referral link, with the help of which you can attract new clients to the broker. If all conditions are met, the FXTM partner will receive a financial reward for the trading activity of each attracted client.
Trading Conditions for FXTM Users
ForexTime is actively working to create favorable trading conditions for traders. The company has $10 minimum deposit for novices on a cent account. All types of accounts can trade in micro lots, and the leverage varies from 1:3 to 1:2000, depending on the type of account and trading assets. Stop-outs start at 20% and ends at 50%.
The spread on the Advantage account starts at 0.0 pips. Micro and Advantage Plus accounts have spreads starting from 1.5 pips. Traders have Forex instruments and metals available on each type of account. The MT4 and MT5 trading terminals as well as the broker's proprietary software for mobile trading, FXTM Trader, are available for traders. Executions of transactions on the Micro account are instant, and on other account types, the transactions are subject to market execution.
FXTM Commissions & Fees
The trading conditions of ForexTime were analyzed by Traders Union specialists for the presence of trading and non-trading commissions. There are no hidden fees in the company, no fee is charged for replenishing a trading account, and the commission for withdrawal is set by payment systems and ranges from 0.5% of the withdrawal amount to €30. On the Advantage account, spreads start from 0.0 pips, but the trader is charged a commission of $0.4 to $2 per lot.
Detailed Review of FXTM (Forex Time)
ForexTime provides services in 150 countries. The use of innovative technologies that allow increasing the speed of order execution is among the broker's priorities. Here, you can trade currency pairs, precious metals, as well as CFDs on indices, and global and European stocks. It has operated more than 10 years in the Forex markets.
A few figures about FXTM that will be of interest to traders choosing a broker:
- more than 10 years of active work in the Forex market;
- provision of services in 150 countries of the world;
- has over 2 million customers;
- minimum deposit starting from $10;
- more than 25 international awards.
- 84% of withdrawal requests are processed within 5 minutes.
FXTM is a broker for traders with different trading strategies and investors
ForexTime is striving to provide its clients with optimal trading terms and quality support. The company offers several types of accounts: Micro (for novice traders); Advantage, and Advantage Plus for professionals. Micro accounts offer instant execution and Advantage Plus accounts offer market execution speeds. The company's average execution speed is 0.1 seconds.
The broker offers classic MetaTrader 4 and MetaTrader 5 as trading terminals. Both platforms are available for mobile devices, which allows traders to trade using their most convenient device. The FXTM Trader app is available for mobile trading.
FXTM useful services:
- pip value calculator;
- income calculator;
- currency converter;
- MT4 indicators;
- Trading on Forex market with VPS.
How to Start Making Profits — Guide for Traders
ForexTime offers three account types, each suitable for both professionals and novice traders in the foreign exchange market. However, each account also differs in terms of minimum deposit, leverage, trading assets, margin call, stop-out levels, and order execution.
The Micro account is most suitable for novice traders as well as professionals who wish to test a new trading strategy. The minimum deposit amount is $10, leverage is fixed at 1:30. The spread level starts from 1.5 pips with instant execution, and an MT4 trading platform.
The advantage is the classic account, which is suitable for more experienced traders and is the most popular account type among the company's clients. The minimum deposit is $500, leverage is fixed up to 1:30, spreads start from 0.0 pips, but there is a commission for each transaction, which varies from 0.4 to $2, depending on the instrument and the trading turnover of the client. There is market execution of orders on this type of account. Trading platforms available are MT4 and MT5. Swap-Free service for the MT4 trading platform is available on this type of account.
Advantage Plus is a trading account for professional traders. The minimum deposit amount on this type of account is $500, and the currencies for deposits are USD/EUR/GBP. Forex instruments, metals, stocks, and indices are available on the account. The market entry is available through the MT4 and MT5 trading platforms, the spread starts from 1.5 pips, with the market execution of orders. Also, the Swap-Free service is available. The margin call level is 80% and stop-outs are 50%. There are no extra trading commissions.
ForexTime also offers a demo account. The company's clients can use it to test the broker's terms and trading strategies. The broker offers a proprietary FXTM Trader terminal for mobile trading.
ForexTime is a company focused on cooperation with different traders, regardless of their experience in currency trading and preferred trading strategies.
Bonuses Paid by the Broker
FXTM Loyalty program
The FXTM Loyalty program gives traders with any type of account the opportunity to receive a cashback of up to $5 for completed transactions. The program assumes 5 levels of loyalty and at each level the financial reward increases. The earned funds are credited to the client's account every week, and they can be used for trading or be withdrawn.
Investment Education Online
This broker provides its clients with educational materials that will help novice traders to better understand foreign exchange trading and help professionals to improve their skills.
Information available in the Analysis and Education section
Unavailable information at FXTM site
Glossary of terms
To combine the theories with practice, we recommend using a demo account.
Security (Protection for Investors)
ForexTime is registered with the UK Financial Conduct Authority (FCA) under the number 600475 and is regulated by the CySEC of Cyprus (under number 185/12) and the South African FSCA (number 46614). The broker is also regulated by the Financial Services Commission of the Republic of Mauritius, FSC (number C113012295).
A broker that is licensed demonstrates that it is reliable since the regulatory authorities closely monitor the broker’s conduct. Non-compliance with their requirements leads to the cancellation of their license(s). The safety of traders' capital is ensured thanks to mandatorily segregated accounts, and the international Financial Commission is in charge of protecting the rights of clients.
- Client funds are held in segregated accounts
- The presence of four bodies regulating the activities of the broker
- All documents are publicly available on the broker's website
- The regulator does not consider small claims by private traders
Withdrawal Options and Fees
- To withdraw funds, you must submit an application, which is processed by the financial department from 6 to 20 hours (GMT + 2, during the summer – GMT + 3). Withdrawal fees are charged depending on the payment system the trader uses.
- Bank cards (Maestro, Visa, MasterCard), e-systems (Skrill, Neteller, Dotpay), and bank transfer (Hellenic Bank) are available to withdraw money.
- Withdrawals are made within 24 hours with bank transfers and within several working days by cards and e-payment systems.
- The EUR, INR, USD, GBP, PLN, NGN, and CZK are among the currencies available for deposit and withdrawal.
- To withdraw earnings, a trader needs to verify his account, which may take a while and involve presenting various documents.
Customer Support Service
Contact the multi-lingual support service, which operates twenty-four/seven if you have any questions.
- Providing customer support in various languages
- A large variety of communication methods
- Opportunity to request a callback
- Customer support does not work on weekends
Communication with the support service is by:
- online-chat on the broker’s website;
- writing an email;
- calling to a phone number;
- message via Telegram, Messenger Facebook, WhatsApp;
- requesting a callback.
You can also contact the broker directly from your Personal account.
|FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus
|FCA, CySEC, FSCA, FSC
Licence number: 185/12, 46614, 600475
|Email: firstname.lastname@example.org, email@example.com, firstname.lastname@example.org,
Phone: +44 20 3734 2255, +357 25 55 8 777, +44 20 3514 1251, +44 20 3734 1025