General Information & Regulation
Founded in 2011, FXTM is an online forex broker, providing services for foreign exchange, indices, commodities, and more financial instruments. FXTM is regulated in multiple jurisdictions worldwide, with offices in Europe, the Middle East, Africa, Asia, and Latin America, attracting over 2 million clients from over 150 countries worldwide.
Concerning regulation, FOREXTIME LIMITED is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa (Reg.No.46614), and Exinity UK Ltd is regulated by the Financial Conduct Authority (FCA) in the UK (Reg. No. 777911). Lastly, Forextime Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) (Reg. No. 185/12).
Pros and Cons of FXTM
FXTM has various entities regulated in different jurisdictions, featuring one of the lowest minimum deposit requirements, and the trading circumstances are favorable, with low spreads and outstanding customer support and Forex education.
From the negative aspects, there is a withdrawal fee, and the stock spreads are somewhat greater.
Market Instruments
FXTM offers over 250 trading products to investors worldwide, covering a wide range of investment instruments such as currency pairs, precious metals, commodity CFDs, index CFDs, equities CFDs, and more.
Minimum Deposit
For your convenience, FXTM provides two types of accounts, the Forex Trading Account and the Invest Account. The three account types—Micro, Advantage, and Advantage Plus—further subdivide based on your preferences about the number of transactions, the instruments available, and the minimum and maximum trade sizes.
Micro Account - FXTM's most accessible account, with a low minimum deposit of $/€/£ 10, ₦10,000, no commissions, and spreads starting at 1.5 pips.
Advantage Account - The least expensive account type offered by FXTM, with a minimum deposit of $/€/£ 500, ₦80,000, with average commissions ranging from $0.40 to $2 based on volume and spreads beginning at zero.
Advantage Plus Account - Asking for the same initial deposit as the Advantage account, with no commission (spread only) and spreads beginning at 1.5 pips.
FXTM Leverage
Lverage Lever also differs depending on different accounts. Standard accounts with floating leverage of 1:2000, FX Cent accounts with the leverage of 1:1000 to 1:25 (FX), and the Equity CFD account with the fixed leverage 1:10 for US equities, 1:3 for European equities, the ECN accounts with the floating leverage 1:2000, the ECN Zero commission account 1:2000, and FXTM Pro account with a flexible leverage: 1:200 to 1:25.
Spreads & Commissions
Minimum spreads start at 1.3 pips for Standard accounts, 1.5 pips for Forex Cent accounts, and 0.1 pips for Equity CFD accounts. Minimum spreads start at 0.1 pips for ECN accounts with a commission of $2 per lot (one side), minimum spreads start at 1.5 pips for ECN zero commission, and 0 pips for FXTM Pro accounts. FXTM offers flexible rules for ECN MT4 accounts offer flexible rules for floating commissions. The more funds an investor has and the larger their trading volume, the lower the commission they pay. Please note that the commission formula for ECN MT4 is: (Volume * Contract Operation * Opening Price) / 1,000,000 * Commission * 2.
FXTM Trading Platform
FXTM offers desktop, Apple, mobile, and tablet versions of the industry-leading trading platforms MetaTrader 4 and MetaTrader 5 to meet a wide range of traders' needs and increase their trading flexibility. If traders prefer to trade directly through their browser, they can use MT4 and MT5 on PC and Mac To trade, WebTrader - no download required! For traders with multiple accounts, FXTM also offers traders a Multiple Account Management System (MAM) on MT4 for easy management and ultimate convenience.
Deposit & Withdrawal
FXTM offers its clients various deposit and withdrawal methods, mainly VISA, MasterCard, Maestro credit cards, Skrill, Moneybookers, VLOAD, TC Pay wallet, NETELLER (VIP clients only), PayPal, Perfect Money, Bitcoin, Internet banking, local transfers in India and Pakistan, local transfers in Nigeria, no commission for deposits. Withdrawals via VISA, MasterCard, Maestro are subject to a fee of US$3/€2/£2. Withdrawals via PayPal are subject to 2%, withdrawals via Perfect Money are subject to a fee of 0.5%, withdrawals via Bitcoin are subject to a fee of 1%. There is no fee for other withdrawal methods.
Customer Support
ForexTime (FXTM) guarantees that it will take into account the specific requirements of each customer. You can reach them via live chat on the website, phone, or email. They support a wide variety of languages, including Arabic, Chinese, English, Farsi, French, German, Hindi, Indonesian, Italian, Korean, Malaysian, Polish, Russian, Spanish, Urdu, and Vietnamese.
Educational Resources
Traders have access to a wealth of free educational materials, including as trading videos, seminars/webinars with industry professionals, online trading courses, downloadable eBooks, and market forecasts, to help them hone their craft. The downloadable eBooks span a wide range of topics, and the seminars hosted by FXTM's team of specialists provide attendees with access to world-class trading knowledge.
2022-12-07 08:31
2022-12-07 04:57
