FXTM (ForexTime) is a well-known forex and CFD broker that has gained a strong reputation for offering a wide range of trading instruments, competitive trading conditions, and robust trading platforms. Founded in 2011, FXTM has rapidly grown to become a trusted name in the forex industry, serving clients globally. This detailed review will cover various aspects of FXTM, including its history, regulatory status, trading platforms, account types, fees, customer support, educational resources, and overall trading experience.

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1. History and Background

Establishment and Growth

FXTM was founded in 2011 with the vision of providing superior trading conditions and comprehensive educational resources to traders worldwide. Since its inception, FXTM has expanded its services and global reach, attracting a diverse client base. The broker is known for its customer-centric approach, innovation, and commitment to transparency.

Key Milestones

• 2011: FXTM was established.
• 2013: The broker received its first regulatory license from CySEC.
• 2014: FXTM opened its first international office and launched the FXTM Partners program.
• 2015: FXTM launched its social trading platform, FXTM Invest.
• 2016: The broker received several industry awards, including “Best Customer Service” and “Best Forex Broker”.
• 2018: FXTM achieved a record number of new client registrations and trading volumes.
• 2020: The broker introduced new trading instruments and enhanced its trading platforms.

2. Regulatory Status

Overview of Regulatory Bodies

FXTM is regulated by several reputable financial authorities, ensuring a secure and transparent trading environment for its clients. These regulatory bodies include:

Cyprus Securities and Exchange Commission (CySEC) – Cyprus

FXTM is authorized and regulated by CySEC, which oversees financial services firms in Cyprus. CySEC’s regulatory framework includes measures to protect client funds, promote transparency, and ensure fair trading practices.

Financial Conduct Authority (FCA) – UK

ForexTime UK Limited is authorized and regulated by the FCA, known for its stringent regulatory standards. The FCA ensures that FXTM adheres to high standards of financial conduct, client fund protection, and transparency.

Financial Sector Conduct Authority (FSCA) – South Africa

FXTM South Africa (PTY) Ltd is regulated by the FSCA, which supervises financial markets and services in South Africa. The FSCA’s regulatory requirements ensure that FXTM operates with integrity and provides a secure trading environment for its clients.

Financial Services Commission (FSC) – Mauritius

FXTM is also regulated by the FSC in Mauritius, further demonstrating the broker’s commitment to maintaining a secure and transparent trading environment.

Importance of Regulation

Being regulated by multiple reputable authorities underscores FXTM’s commitment to providing a safe and transparent trading environment. Regulatory oversight ensures that the broker follows strict guidelines, including maintaining sufficient capital reserves, segregating client funds, and adhering to best execution practices.

3. Trading Platforms

MetaTrader 4 (MT4)

MT4 is a widely used trading platform known for its user-friendly interface, advanced charting tools, and automated trading capabilities. FXTM offers MT4 to its clients, providing a robust platform for both novice and experienced traders. Key features of MT4 include:

• Customizable Charts: MT4 offers a range of charting tools and indicators, allowing traders to customize their trading environment.
• Expert Advisors (EAs): Traders can use EAs to automate their trading strategies.
• One-Click Trading: MT4 allows for quick trade execution with one-click trading functionality.
• Advanced Order Types: The platform supports various order types, including market orders, limit orders, and stop-loss orders.

MetaTrader 5 (MT5)

MT5 is the successor to MT4, offering enhanced features and capabilities. FXTM provides MT5 to its clients, offering a powerful platform for advanced trading and analysis. Key features of MT5 include:

• Advanced Charting and Analysis: MT5 offers advanced charting tools and technical analysis capabilities.
• More Order Types: MT5 supports additional order types, including stop limit orders.
• Economic Calendar: The platform includes an integrated economic calendar, helping traders stay informed about market-moving events.
• Improved Interface: MT5 features an improved interface and enhanced performance compared to MT4.

FXTM Trader App

The FXTM Trader app is the broker’s proprietary mobile trading platform, designed to offer a seamless and intuitive trading experience. Available for both iOS and Android devices, the FXTM Trader app provides a range of features tailored to meet the needs of mobile traders. Key features of the FXTM Trader app include:

• User-Friendly Interface: The app features an intuitive interface, making it easy for traders to navigate and execute trades.
• Advanced Charting: The app offers advanced charting tools and technical indicators.
• Real-Time Data: The app provides real-time market data and news.
• Customizable Layout: Traders can customize the app’s layout to suit their preferences.

4. Account Types

Standard Account

The Standard Account is FXTM’s most popular account type, suitable for both novice and experienced traders. Key features of the Standard Account include:

• Minimum Deposit: The minimum deposit for a Standard Account is $100.
• Leverage: Traders can access leverage up to 30:1 for retail clients and up to 2000:1 for professional clients, depending on their location and regulatory restrictions.
• Spreads: FXTM offers competitive spreads, with major currency pairs typically having lower spreads.
• No Commission: The Standard Account operates on a spread-only model, with no additional commission fees.

Cent Account

The Cent Account is designed for novice traders and those who want to trade smaller amounts. Key features of the Cent Account include:

• Minimum Deposit: The minimum deposit for a Cent Account is $10.
• Leverage: Traders can access leverage up to 30:1 for retail clients and up to 1000:1 for professional clients, depending on their location and regulatory restrictions.
• Spreads: FXTM offers competitive spreads, with major currency pairs typically having lower spreads.
• No Commission: The Cent Account operates on a spread-only model, with no additional commission fees.

ECN Account

The ECN Account is designed for more experienced traders who require direct access to the interbank market. Key features of the ECN Account include:

• Minimum Deposit: The minimum deposit for an ECN Account is $500.
• Lower Spreads: ECN Accounts benefit from lower spreads, providing cost savings for high-volume traders.
• Commission: A commission is charged per trade, depending on the trading instrument.
• Higher Leverage: Traders can access higher leverage, depending on their location and regulatory restrictions.

FXTM Pro Account

The FXTM Pro Account is tailored for professional traders who require the best trading conditions. Key features of the FXTM Pro Account include:

• Minimum Deposit: The minimum deposit for an FXTM Pro Account is $25,000.
• Spreads from 0.0 Pips: The FXTM Pro Account offers spreads starting from 0.0 pips.
• No Commission: The FXTM Pro Account operates on a spread-only model with no additional commission fees.
• Higher Leverage: Traders can access higher leverage, depending on their location and regulatory restrictions.

Demo Account

FXTM offers a free demo account for traders who want to practice their strategies and familiarize themselves with the platform without risking real money. Key features of the Demo Account include:

• Virtual Funds: The demo account is funded with virtual money, allowing traders to practice without financial risk.
• Real-Time Market Data: Traders have access to real-time market data, providing a realistic trading experience.
• Unlimited Access: The demo account is available for an unlimited period, giving traders ample time to practice and refine their strategies.

5. Fees and Costs

Spreads

FXTM offers competitive spreads across its range of trading instruments. The spreads vary depending on the account type and the specific instrument being traded. Major currency pairs typically have lower spreads, while exotic pairs and CFDs may have higher spreads.

Commissions

While the Standard and Cent Accounts operate on a spread-only model with no additional commission fees, the ECN Account involves commissions. However, the lower spreads offered to ECN Account clients often offset these commissions, providing overall cost savings for traders.

Swap Rates

Swap rates, also known as overnight financing or rollover fees, are charged or credited when a position is held overnight. The rates vary depending on the currency pair and the direction of the trade. FXTM provides transparent information about swap rates on its website and trading platforms.

Deposit and Withdrawal Fees

FXTM does not charge any fees for deposits or withdrawals. However, traders should check with their payment provider for any applicable fees. The broker supports a variety of payment methods, including bank transfers, credit/debit cards, and electronic payment systems.

6. Customer Support

Availability

FXTM offers 24/7 customer support, ensuring that traders can receive assistance at any time. The support team is available via live chat, phone, and email, providing timely and efficient support for any issues or inquiries.

Multilingual Support

FXTM provides multilingual support, catering to its global client base. The support team can assist traders in various languages, ensuring effective communication and support.

Educational Resources

FXTM offers a wealth of educational resources to help traders improve their skills and knowledge. These resources include webinars, video tutorials, trading guides, and market analysis. By providing comprehensive educational materials, FXTM empowers traders to make informed trading decisions.

7. Educational Resources

Webinars and Seminars

FXTM regularly hosts webinars and seminars covering various trading topics, from basic forex concepts to advanced trading strategies. These events are conducted by experienced traders and market analysts, providing valuable insights and education for traders of all levels.

Video Tutorials

FXTM offers a library of video tutorials that cover platform navigation, trading strategies, technical analysis, and more. These tutorials provide step-by-step guidance, helping traders understand complex concepts and improve their trading skills.

Trading Guides

FXTM provides a range of trading guides that cover essential topics such as risk management, technical analysis, fundamental analysis, and trading psychology. These guides are designed to help traders develop a solid foundation in forex trading and enhance their overall trading experience.

Market Analysis

FXTM’s team of market analysts provides regular market updates, analysis, and forecasts. These insights help traders stay informed about market developments and identify potential trading opportunities.

8. Overall Trading Experience

User-Friendly Platforms

FXTM offers a range of user-friendly trading platforms, catering to different trading styles and preferences. Whether traders prefer the advanced features of MT4, the enhanced capabilities of MT5, or the intuitive interface of the FXTM Trader app, the broker provides a platform that meets their needs.

Competitive Trading Conditions

With competitive spreads, flexible leverage options, and a variety of account types, FXTM offers trading conditions that cater to both novice and experienced traders. The broker’s commitment to transparency and fair pricing enhances the overall trading experience.

Robust Customer Support

FXTM’s dedicated customer support team ensures that traders receive timely and efficient assistance whenever needed. The availability of multilingual support and comprehensive educational resources further enhances the trading experience, providing traders with the tools and knowledge they need to succeed.

Regulation and Security

FXTM’s regulation by multiple reputable financial authorities provides traders with confidence in the broker’s integrity and reliability. The enforcement of strict regulatory standards ensures that traders’ funds are protected, and the trading environment is secure.

Conclusion

FXTM is a well-established and reputable forex broker that offers a comprehensive range of trading services and platforms. With its strong regulatory status, competitive trading conditions, robust customer support, and extensive educational resources, FXTM provides a reliable and secure trading environment for traders of all levels.

Whether you are a novice trader looking to learn the basics or an experienced trader seeking advanced tools and features, FXTM offers the resources and support needed to achieve your trading goals. By continuously innovating and adapting to the evolving needs of traders, FXTM remains a leading choice for forex and CFD trading.