ForexTime (FXTM) broker review and guide to accounts

FXTM broker has received multiple awards and recognitions during its years of operations. Most recently, in 2018, the company was named the ‘Best FX Broker in Asia’ by World Finance as well as a broker with ‘The Best Conditions’. It was also named ‘The Most Innovative Broker’ of 2018 and ‘The Best Broker in Russia’. In 2018, the company surpassed million registered accounts as the pace of acquiring new users is still increasing.

Is FXTM Legit?

FXTM is a trademark owned by ForexTime Limited brokerage company. In addition to this company, the FXTM brand is used in their work by two more brokerage firms – ForexTime UK Limited and Exinity Limited. All of them are parts of a single business project. The company is completely licensed and regulated by different authority bodies so there are no questions regarding the broker’s legitimacy and safety.

ForexTime Limited is licensed by the CySec Regulator No. 185/12 and works mainly with traders from the countries of the European Union.
ForexTime UK Limited. This company is licensed by FSA No. 777911 (UK). Traders from the countries of the British Commonwealth can use its services. Exinity Limited operates under a license from the FSC Regulator (Mauritius). This company provides brokerage services to traders from various countries of the world, including the countries of the former post-Soviet space. It should be noted that the FSC Regulator, which controls the financial activities of the company, has sufficient independence. Unlike financial regulators in other offshore jurisdictions, it provides a high degree of investment protection.

How to Open a New Account With FXTM?

Trading on Forex with a broker is impossible without creating an account on his site. That is why it is necessary to follow the guide thoroughly:

• In the top menu of the main page, click on the green button “Register”.
• In a new window, fill out the form, indicating the name, surname, country of residence, mobile phone, e-mail address and password.
• To confirm the data, a PIN code will be sent to the phone, which must be entered in the appropriate field.
• To complete the procedure, click on the “Register” button.

Trading Platforms

Trading on the international currency market with the help of a broker is carried out using several trading and information terminals that operate in the browser, desktop and mobile modes. Among them we can single out:

• MetaTrader 4 – Multifunctional and convenient terminal used by most Forex brokers. It features a wide variety of trading instruments, indicators and analytical options. The platform can be downloaded to a laptop or stationary PC, as well as installed as a mobile application on a tablet with an Android or iOS operating system.
• MetaTrader 5 – An innovative terminal that provides access to liquidity providers using ECN and STP technologies. Like the previous platform, MT5 can be used for mobile trading, while it differs in the presence of a more voluminous list of instruments for trading and market analysis.
• WebTrader – It is a real-time service. It has certain advantages, in particular, adaptation to any computer operating systems. At the same time, it has some disadvantages, namely, the absence of some indicators.

Trading Instruments Offered by FXTM

FXTM offers over 50 currency trading pairs on its platform. There are the Major Currency Pairs that include US Dollar and other Major currencies like EUR/USD and USD/JPY, as well as the Minor Currency Pairs with two major currencies excluding the USD. Examples of the latter include EUR/CHF  and EUR/GBP. In addition to these, some customers might be interested to learn that the broker also offers Exotic Currency Pairs like CHF/NOK and EUR/TRY.

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. The users can trade 24/5 using the FXTM trading platform.

Forex broker FXTM provides its clients with access to trade:

• Forex currency pairs, which include major, minor and exotic pairs.
• Commodities such as oil and natural gas.
• Stock indices.
• Precious metals (gold and silver).
• Shares of the world’s largest companies.
• Cryptocurrency (Bitcoin, Litecoin, Ethereum, Ripple).

FXTM Account Types Review

The company offers 3 types of trading accounts: Micro, Advantage, and Advantage Plus. In each of these categories, you can open a separate account that meets the needs of the trader and his level of preparedness for trading.

Micro Account

It can be used when working with the MT4 trading platform. The spread on the account is floating, starting from 1.5 pips. The leverage on the account is set up to 1: 1000 (depends on the selected trading instrument). The broker reserves the right to reduce the leverage up to 1:100 one hour before the close of the trading session on Friday. The minimum deposit for a Micro account is $50.

Advantage Account

Advantage Account allows trading in both MT4 and MT5 trading platforms. The spread on the account is floating, ranging from 0.0 pips. Leverage is up to 1:2000. The minimum deposit amount to start trading is $500. On this account, you can trade different instruments including FX, metals, commodities, indices, stocks, FX indices.

Advantage Plus Account

You can work with this account in MT4 and MT5. The spread on the account varies from 1.5 pips. Leverage is floating and can be up to 1:2000. The minimum deposit is $500. There are no commissions on Advantage Plus Accounts. Execution of trade orders is market.

The company’s focus on the education of its customers is evident as all accounts have demo versions so that the users have the flexibility to try out different accounts before actually putting their funds on the line. This is a great feature that can be used by new traders as well as the experienced ones who are looking to change their trading strategies or want to migrate to the FXTM platform from another one with different functionality.

FXTM Investment Program

The broker provides investors with the ability to automatically copy the trades of the strategic manager. Personal Forextime trader (strategic manager), can be selected from the rating. It is published and updated by the official FXTM website. It should be noted that in the broker’s rating there is a fairly large number of traders offering their services to investors. This indicates that the service is actively developing and attracts the attention of both traders and forex investors.

Market Analysis

FXTM provides analytical reviews of financial markets with qualified specialists:

• Hussein Sayed – He has 14 years of experience in financial markets. Known as a popular presenter on CNBC Arabia.
• Lukman Otunuga – Graduate of the London School of Business and Finance.
• Tan Chung Han – An experienced financial journalist. Graduated from Liberty University in Virginia, USA.

The official website of FXTM publishes analytics daily. In terms of content, it is quite high quality and can be recommended to traders.

Teaching Novice Traders

Rookie traders can be encouraged to familiarize themselves with a selection of trading training materials made by FXTM broker. It includes:

• Articles introducing beginners to Forex trading.
• Educational videos.
• Selection of electronic books on over-the-counter trade.
• In addition, the company regularly conducts webinars, which can be a good guide for traders who want to improve their professional level.

Broker FXTM does not stand still and is constantly evolving – in 2018 the number of active users exceeded half a million traders.

Customer support

If you have any questions, traders can contact the company’s consultants who work around the clock from Monday to Friday. You can contact a specialist in such ways as:

• Hotline phone:
• Skype service.
• Live chat.
• Viber.
• Telegram and others.

Users can also use the ticket system by leaving a letter on the broker’s website. Detailed information on FXTM contact details can be found in the “About Us” section.

Other Benefits

After analyzing the reviews on the network, we highlighted the following positive reviews about FXTM:

• Large selection of trading accounts.
• High speed of order execution.
• The presence of tight spreads when performing trading operations.
• The ability to use scalping and hedging strategies.
• A low threshold value of the minimum deposit.

Besides these instruments, the company offers its customer other benefits. The client service at FXTM is exceptional. This is one of the most important aspects of trading platforms, as users often have to get their problems solved in a matter of minutes and waiting in line for a representative for hours or not being able to communicate easily could create serious troubles. 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.

The website offers its users market news and analysis as well. Oftentimes, traders have to resort to other sources to get this information, but FXTM broker has daily and weekly reports, streaming news feeder and economic calendar from FX Street and even SMS alerts when major news that could affect the market happens.

Broker FXTM looks decent. It can be seen that the company does not stand still. It is actively developing and is trying to attract customers with the quality and variety of services. Today the company has every chance to break out into the TOP of the brokerage companies. if it continues to adhere to the chosen course of development. You can fully trust the company!

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