FXTM


Overall Score   How is this Calculated?

9.1

Ranks #10 of 29
In Reviews > FXTM


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Details:

  • Min. Deposit: $1
  • Max. Leverage: 1000:1
  • First Deposit Bonus:
  • Min. Lot Size: 0.01
  • Regulation: CySEC, MiFID, FCA

  RATING

Ease of Access:
9.1
Reliability:
9.3
Support:
9.0
Payouts pct.:
9.2

  AWARDS

FXTM Review – A Great Option for Beginners and Experts Alike


ForexTime, also known as FXTM, is a relative newcomer in the world of online forex trading having been founded only a few years ago in 2012 by Andrey Dashin. Nevertheless, over this short amount of time the company has managed to establish itself as one of the leading brokers in the industry and one of the most intuitive companies around.

 

In 2013, the company won two awards including 'Best Newcomer 2013' and 'Fastest Growing Forex Broker'. It has seen a huge number of people sign up and has already built a sterling reputation.

 

Part of the reason for this success is the involvement of founder Andrey Dashin. Dashin is also the co-founder of Alpari – another leading forex broker.

 

More than that though FXTM has set itself apart with a commitment to delivering great service and a variety of powerful features. In this review we will look at what sets FXTM apart and at why you should consider the new choice for your own online trading.

 

Trading Platform

 

ForexTime trading is available through MetaTrader 4 or MNetaTrader 5. Both these platforms are well-known and respected in the industry and provide easy and powerful trading options. They're both also available either in-browser or as desktop software to be downloaded and installed on your machine. It's particularly useful that you can trade this way through the browser as it means you won't have to clog up your machine with unnecessary new software (unless you want to…) and you'll be able to trade from anywhere as long as you have access to a computer with an internet connection.

 

Trading via MetaTrader 4/5 is something many traders will be familiar with. This means you won't need to learn a new system and it also gives you the advantage of not having to rely on a new trading platform that's been developed in-house and that perhaps hasn't been as thoroughly tested or proven.

 

There are also mobile versions of MetaTrader 4 and 5 available which give you the ability to trade on the move rather than having to be at a desktop computer. This can be very helpful indeed and means you can even trade on the commute to work or while in a queue at the bank!

 

Another bonus of ForexTime is that it lets you trade in more financial products than just forex. For instance, you will be able to trade in:

  • CFDs on Commodity Futures
  • Share CFDs
  • Precious Metals
  • ETF CFDs

 

Account Types

 

There are a number of different types of trading accounts for different traders and these are categorized into a range of Standard accounts and ECN accounts. These cater to traders of different levels and include a range of different features.

 

Standard accounts include: FXTM Cent, FXTM Fixed Spread and FXTM Standard. ECN accounts meanwhile are: FXTM ECN, FRXTM ECN MT5, FXTM ECN ZERO, FXTM ECN ZERO Amanah (which is an Islamic trading account).

 

ForexTime do not impose any minimum deposit on their accounts. This means that if you're a beginner you won't need to start trading with a large amount of capital and instead you can just get started with whatever you feel comfortable with. This makes a very refreshing change from the majority of trading accounts and is something that more brokers should offer.

 

Commission and Spreads

 

The spreads that will be payable depend on the kind of account that you use. For FXTM Standard accounts, spread starts at just 0.1 pips. FXTM Fixed Spread accounts pay 2.1 pips meanwhile and ECN trading accounts don't pay any spread s but commissions are charged for services. The volume of trades will also impact on the rate but you can find more information on all this on the site: it really is all very transparent and generally it's very reasonable.

 

Customer Support

 

You should never go with a broker that doesn't provide excellent customer support among its services. Fortunately, FXTM does indeed emphasize their customer support and offer support in a variety of languages at any time of day. You can get in touch with a customer support representative either by e-mail, live chat, Skype or telephone and they're always friendly, knowledgeable and eager to help. When you trade with FXTM you will always feel like you have the assurance of being able to easily get in touch when you have any questions or if ever anything goes wrong.

 

Reliability and Security

 

FXTM is based in Cyprus like a lot of reputable online traders and is regulated by the Cyprus securities Exchange Commission (CYSEC) license number: 185/12. This means they are completely compliant to MiFID regulations and authorized to work with clients from all EEA countries. Additionally, the company is a registered entity under the British FCA and again adheres to all of their regulatory criteria.

 

All data is securely encrypted and you can be absolutely sure that all your personal information will be kept safe and secure when you do business with this broker. As they are one of the bigger names in the industry and they are available to contact by phone at all times, you can generally enjoy a real peace of mind when using their services. This is something you should look for with any broker.

 

Conclusion

 

Overall, FXTM offers traders one of the best trading platforms of any company. Their support team are incredibly helpful and always ready to hand, they have a great reputation and are tightly regulated and they make things easy and secure for users. They also have a wide range of different accounts which is very useful for beginners to pros so that they can get the tailored service and features they need. On top of all that, they offer very tight spreads starting from 0 pips, they support multiple different well-known platforms and they provide fast and efficient trade execution.

 

Perhaps one of the most tempting features for many users though will be the fact that there is no minimum deposit. Whatever it is that appeals though, you will find a very secure, reliable and helpful broker in FXTM.

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