Forex Time FXTM Review

MIN. DEPOSIT 5 CCY
Up to 1000:1
FXTM Loyalty Cashback BONUS
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Forex Time FXTM
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Overview

Company Information Forex Time (or FXTM) is among the newest brokers on the Forex market. The company launched in 2012 but still managed to win awards like “Best Newcomer 2013”… more

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Details

Broker Forex Time FXTM
Website URL http://www.forextime.com/
Founded 2011
Headquarters Nicosia, Cyprus
Support Number +44 203 734 10 25
Support Email info@forextime.com
Support Types Phone, Live Chat, E-mail
Languages English, Arabic, Chinese, Taiwanese, Czech, French, Hindi, Indonesian, Polish, Italian, Farsi, Korea, Malay, Russian, Thai, Vietnamese, Urdu
Minimum 1st Deposit 5 CCY
Minimum Trade Amount 0.01-0.1
Maximum Trade Amount 100-250
Bonus FXTM Loyalty Cashback
Payout Up to 1000:1
Free Demo Account Yes
Regulated Yes
Regulation IFSC
Account Types Standard Account , Cent Account, Shares Account, ECN Account, ECN Zero, FXTM ECN MT5, Strategy Account, FXTM Pro
Deposit Methods FasaPay, Nigeria Local Bank Wire Transfer, Indonesian Local Transfer, Vietnamese Local Transfers, Local transfer for India and Pakistan, Online Banking Thailand, Visa, MasterCard, Maestro, China Union Pay, Neteller, Skrill, Alfa-Click, PayZa, WebMoney, OkPay, DixiPay, Cash U, Qiwi, Yandex.Money, WeChat, PerfectMoney, Ceska Sporitelna AS (Erste Group), Expobank
Withdrawal Methods FasaPay, Nigeria Local Bank Wire Transfer, Indonesian Local Transfer, Vietnamese Local Transfers, Local transfer for India and Pakistan, Online Banking Thailand, Visa, MasterCard, Maestro, China Union Pay, Neteller, Skrill, Alfa-Click, PayZa, WebMoney, OkPay, DixiPay, Cash U, Qiwi, Yandex.Money, PerfectMoney, Ceska Sporitelna AS (Erste Group), Expobank
Types of Assets Forex, Spot Metals, Share CFDs, CFDs on Commodity Futures, CFDs on ETFs and Indices
Account Currency USD, EUR, GBP, RUB, CZK, PLN, INR, NGN, CNY, VND, THB, IDR,
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes

Full Review

Company Information

Forex Time (or FXTM) is among the newest brokers on the Forex market. The company launched in 2012 but still managed to win awards like “Best Newcomer 2013” and “Fastest Growing Forex Broker”. Now, with four years of history, FXTM is one of the strongest going Forex brokers you will find. The company is based in Belize and is regulated by CySEC and the IFSC of Belize. The CySEC license number is 185/12, and the UK FCA reference is 600475. Other awards of the broker include Most Educational Broker in 2014, a whopping seven awards in 215 and Best Sell-Side Analysis Contributor. In my book so many awards mean that the broker is doing things extremely right. Users are happy with the provided service and that’s all that matters. Aside from the awards, Forex Time also offers some accounts for both International and Shariah-compliant clients. Sadly, due to the strict regulations, US citizens are not allowed to open accounts with this broker. But among the account choice, the demo account, and the great customer service, the website comes forward with great design and usability.

Speaking of web design, the page of FXTM walks away from the widely endorsed white-black-red combination. Here, you will see some green and orange for the accents and buttons. I, for one, welcome this fresh color combination. The home page is exceptionally well made and emphasizes on learning first and earning second. Forex Time offers some step-by-step tutorials and articles by prominent professionals. If you wish to, you can attend to local seminars and online webinars as well. Of course, in the demo account, you have your account manager, and you can learn how to earn money with Forex at a very fast pace.

 

Trading Information

Nowadays, most brokers offer only Forex as their business instruments. FXTM is ahead in this regard, as it allows clients to trade with ETFs, CFDs, commodities, metals, oil, gold, indices and binary options. With 100+ instruments, only stocks are missing from the complete set. The Forex section offers over 60 currency pairs with a floating leverage up to 1:1000 and low spreads starting from 0.1 with a five decimal pricing. Spot metals are always a good option for diversifying your trader portfolio. Commodity Futures are always a good stock. You can trade in ranges from oil products like West Texas Intermediate and Brent Crude to indices lice DAX, CAC, and S&P worldwide. Of course, you will trade your CFDs on the global market in the real, dynamic environment. As usual, keep in mind that you should only invest as much as you can afford to lose.

 

Trading Platforms

Usually, Forex brokers offer some trading platforms to their clients. You can even see more advanced ones like Currenex and cloud more and more. Forex Time, however, decided to keep things straightforward and efficient. The clients of FXTM can use the standard MetaTrader 4 and MetaTrader 5. With the 4th edition, customers get absolutely everything necessary to make use of Forex, CFDs and Futures trading. It’s not a coincidence that the platform is still one of the most utilized in the world, since its conception in 2003. FXTM MT4 offers a large number of built-in technical indicators, multiple time frames, and trading signals. The platform also offers a dynamic security system and use of Expert Advisors. It is also available on almost every device you can get your hands on. MetaTrader 5, on the other hand, is a newer version, which offers ECN technology and STP, allowing you to trade directly with liquidity providers. A set of extra features analyze the market and can be of great help to newcomers and veterans alike.

 

Security and Customer Service

FXTM is licensed by CySEC, the Cyprus Securities and Exchange Commission. They can oversee and control the financial exchange operations and act as a supervisor to ensure a fair trading environment. Forex Time is also registered with a vast number of global regulatory bodies like FCA, BaFin, CONSOB, and FSAN. Of course, FXTM also collaborates with the Market in Financial Instruments Directive and the Investor Compensation Fund.

Contacting FXTM’s customer support is easy. You can receive live chat help, or contact them by phone or e-mail. All the support channels work 24/7 and can communicate in 16 languages. Getting help is exquisitely natural, and you should get answers in no time.

 

Deposits and Withdraws

Depositing funds to your FXTM account can happen in a vast number of ways. Most credit cards are accepted, as well as e-wallets like Neteller, Skrill, and the Western Union. You can also use Bank wire and, if you are in Nigeria, the local bank transfer. One of the great features of this broker is that Forex Time will reimburse you for any deposit charges you receive, effectively making all deposits free. Withdrawing funds happen through the same channels and is processed in 24 hours at most.

 

Deposit Bonus and Loyalty Programs

One of the longstanding promotions on FXTM is the 200% cashback rebate. This offer applies to every trade lot you make. Another offer is a $4 bonus to every traded lot. The second bonus is only available to new clients who are switching from another broker. Aside from the promotions, there are some trading contests running all the time. Currently, you can take part in the Forex Trading Legends live trading competition with a grand prize of $100000. It begins on 21.03.16 so don’t waste any time and start setting your account up!

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