This is a FXTM Review.
The online forex broker FXTM, also known as Forex Time, was launched back in 2011 and has its headquarters in Limassol, Cyprus. Having been named one of the fasters growing and best brokers out there, FXTM is also regulated and focused not only on the European region but also on Africa and Asia.
According to their website, this broker values correctness and aims to deliver impeccable trading conditions as well as a plethora of educational resources to its clients. The trader’s level of experience and knowledge does not matter for them. That’s because their goal is to help everyone be successful through a smooth and safe trading experience. This review will offer more details on everything related to FXTM so you can decide whether or not they are the ones for you. Here we go!
What about FXTM’s notoriety and safety levels?
When it comes to the FXTM notoriety level, it must be said that this broker has an incredible 90% positive reviews online. It has a very high ranking with over 750.000 active accounts, numerous opportunities, and even awards for its services. As for safety, they are regulated by several authorities like Cyprus CySEC, Financial Conduct Authority FCA, and South Africa.
Also, they are part of a trinity comprised of ForexTime Ltd, ForexTime UK Ltd, and Exinity Limited, which are providing services to over 10,000 clients from more than 135 countries from all over the globe. This means that your money and personal info are protected at all times. FXTM is also a member of the Investor Compensation Fund which can compensate in case of insolvency. Your funds are also shielded by their negative balance protection system along with many other requirements from the regulatory bodies overseeing it.
What are their account types?
FXTM comes with six account types that clients can pick from. What’s even more interesting is the fact that this broker offers separate accounts for trading and investing. All of them have ECN and standard execution and you can always pick exactly the right account for your goals.
Those six accounts are divided into three separate options called Standard, Cent account, and Shares account. The Standard account is a very balanced one with a floating spread of 1.3 pips. The Cent account is perfect for beginners who don’t want to invest too much. The Shares account is perfect for those of you who want to trade on stocks that are over 120 US shared.
The other group of FXTM accounts is the ECN one and consists of the Zero account with a rather low deposit, scalping options, and spreads from 1.5 pips. The FXTM ECN account has unlimited orders and spreads from 0.1 pips. Last but not least, the Pro account is only meant for experts, has a minimum deposit of $25,000, and offers a huge number of possibilities for those who know how to use them.
What about the FXTM fees?
It must be noted the FXTM has flexible fee conditions depending on the account type that you choose. However, if you use the Standard account, you can expect no commissions. In case you want to trade shares on this platform, you will only have to pay the spreads leverage.
It’s also worth mentioning that FXTM also offers the possibility to trade on a demo account. This is especially useful for beginners because they can learn and make mistakes without losing money. This choice also includes the educational features of the broker, like webinars, support in 16 languages, and detailed tutorials.
Deposits and withdrawals on FXTM
With FXTM, it only takes two hours for your money to reach the account as a deposit, which can be as low as $10 (for the Cent account, while for the Standard one the minimum deposit is $100). You can make a deposit using a credit/debit card, wire transfer, and e-wallets.
Withdrawing money from this platform is also quick (it only takes 2 business days) and easy. In order to do this, you will need to log into your account and access the Withdraw page. Then select the withdrawal method, the amount you want to receive, and complete the process with a PIN code that you will get either in the mail or through a text. Keep in mind that some payment methods have fees while others don’t.
Both web and mobile trading platforms are available
The web trading platform offered by FXTM is compatible with any kind of computer and easy to install in a few seconds. There is also a web-based version of the platform that doesn’t require downloading or installation and which you can use with only a browser and an internet connection. Their interface is clear and intuitive and both platforms are very fast and bug-free.
As for their mobile trading app, it is compatible with all systems and works flawlessly as long as your internet connection is reliable. It comes with price alerts and good charting. However, it does not offer two-step verification, so keep that in mind.
Their customer support service is also top-notch and the team offers their help via phone calls, e-mail, and live chat. There are many languages available but the downside is that the customer support system is not available 24/7.
In conclusion, it’s clear that FXTM is a reliable and professional online trading broker that values its clients. It offers an exemplary trading experience, a wide range of options, features, and educational tools, as well as a reliable support system and intuitive platforms. Their choice of accounts is truly impressive and their dedication to making clients happy is praise-worthy.