Point Summary

Headquarters FXTM Tower, 35 Lamprou Konstantara,
Kato Polemidia, 4156, Limassol, Cyprus
Found in 2011
Regulation FCA, CySEC, FSC
Platforms MT4, MT5, FXTM Trader
Instruments 250+ trading instruments including forex currency pairs, CFDs, Futures, Precious Metals and Commodities
Costs Trading costs and spreads are low
Demo Account Available
Minimum deposit $10
Leverage Flexible leverage from 1:1 to 1:2000
Commission on Trades Yes
Deposit, Withdrawal options Credit Card, Cryptocurrencies, Maestro, Neteller, QIWI, etc
Education Great materials, research tools for learning
Customer Support 24/5



Introduction

FXTM Review

FXTM (Forex Time) is a well-established Forex / CFD brokerage and was launched in 2011 with its headquarters in Cyprus and they had the goal of providing top quality education, great trading conditions and modern trading tools.

They are licensed under numerous key regulators, including the likes of the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the United Kingdom, the Financial Services Commission (FSC) in the Republic of Mauritius and the Financial Services Board (FSB) in South Africa.

They have been named as one of the world’s fastest growing and best forex brokers. FXTM has achieved rapid global expansion, driven primarily by its desire to serve specific local markets with strong FX demand.

Since then, over 2 million people worldwide have chosen FXTM as their trading partner and thousands of new traders continue to join this platform every month.

The FXTM brand is a global leader in online trading, bringing the opportunities of financial markets to global audiences, wherever they are and whatever their financial ambitions.

Pros Cons
  • ForexTime is a global and award-winning broker
  • They’re fully regulated and licensed
  • Traders from over 180 countries trust ForexTime
  • They speak your language
  • They offer account types to suit all types of traders
  • Expert Advisers other MetaTrader 4 plugins are welcome
  • Guaranteed negative balance protection
  • Innovative, free trading tools including margin pip calculators
  • Daily market analysis by their market research team
  • Funds are deposited in segregated accounts in top-tier banks
  • Wide range of payment methods
  • They provide great trading bonuses and promotions
  • FREE deposits and instant withdrawals.
  • Superfast Execution
  • High stock CFD fees
  • Inactivity and withdrawal fees
  • Limited product portfolio

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Awards


They have won numerous awards over the years, They’ve built their business around helping clients to trade and they’re delighted that their efforts have been recognised with over 25 awards since 2011.

The brand has been continually recognised by many of the industry’s most influential award bodies. This is a testament to their commitment to providing exceptional customer service, competitive trading conditions and — above all— an outstanding trading experience.

FXTM proves its high ranking among the traders’ community with more than 90% of positive feedbacks.

FXTM is the proud recipient of many prestigious awards as some the latest awards below:


FXTM Review
FXTM ReviewFXTM Review



Is FXTM safe or a scam?

It is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) and the Financial Services Commission of Mauritius (FSCA) with the licence as below:
FXTM legal entity Investor Protection FXTM License Number
ForexTime Limited Authorized FSCA (South Africa) registration no. 46614
Cyprus Securities and Exchange Commission registration no. 185/12
Exinity Limited Authorized by FSC (Mauritius) registration no. C113012295
ForexTime UK Limited Regulated by FCA (UK) registration no: 777911

How are you protected?

In addition to the company’s international regulation, it practices segregation of client funds. This ensures the safety of client funds on the off chance that something should happen to FXTM.

All of the client funds are kept in EU banks of the top tier. FT Global never uses customer funds in any investment, including operations, to ensure the protection of fund at all times. FT Global also has multiple bank partnerships to add a level of security to client funds.

FXTM is a member of the Investor Compensation Fund that compensates in case of the company insolvency, as well as protected by the negative balance protection and other requirements that are audited on a regular basis by the authority.
 
Country of clients Protection amount Regulator
EU countries (except UK) €20,000 Cyprus Securities and Exchange Commission (CySEC)
United Kingdom £85,000 Financial Conduct Authority (FCA)

The overall trading environment is safe, and traders can trust FXTM with their personal information and deposits. Additional steps taken by this broker, like independent verification by PwC of published statistics or enhanced deposit protection as granted by The Financial Commission

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Trading Accounts

One of the areas that FXTM has a lot of pride in is their diverse offering of account types. There are two main differentiating sections as part of their account type, being standard accounts and ECN accounts, tailored to different types of traders depending on their individual needs, investment goals and financial background.

Standard accounts

  • FXTM Standard Account – is a most balanced feature for all with floating spread from 1.3 pips.
  • FXTM Cent Account is a good choice for beginners with a small deposit to start – 5$, spreads from 1.5 pips and instant execution model or Cent lots.
  • FXTM Stocks CFDs Account is specifically designed for traders who prefer trading on stocks over 120 US shared, allowed hedging and as spreads as low as 0.1 pips.


Some of the features are listed below:




ECN Accounts

  • FXTM ECN – account enclose commission of 2$ per lot, but including unlimited orders and you can enjoy low spreads from 0.1 pips
  • FXTM ECN Zero Account– is a non-commissionable account with a quite low deposit of 200$ for a start, spreads starting from 1.5 pips with no re-quotes execution and allowed hedging, scalping features.
  • FXTM Pro Account – designed for professionals with a deposit of 25,000$, but offering floating leverage, interbank spreads starting at 0 and a great variety of assets.


Some of the features are listed below:



Demo Account

They offer Standard, Cent, ECN and ECN Zero accounts in demo formats as a perfect way to experiment with different strategies and practice under real market conditions. These demo accounts are funded with virtual cash, meaning you can prepare yourself for real trading by building your skills with none of the risk (but none of the profits either).


How to open your account

FXTM account opening is easy and fully digital. The online application takes roughly 25-30 minutes and our account was approved within one business day.

5 steps of FXTM account opening in a few minutes:

1. Access FXTM.com Sign In page
FXTM Review
2. Fill in Enter your personal data First and Last Name, Country of residence, email, phone, etc.. You need to give your phone number , to which FXTM will send a PIN code

3. Fill out a questionnaire about your trading knowledge and financial background

4. Select the account type you wish to open

5. Verify your identity and residency by uploading a copy of your passport / ID / drivers license and a bank statement or utility bill

FXTM Review

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Trading Instruments

They offer access to a wide range of asset classes. From currency trading to speculating on the price movements of your favourite stocks – FXTM has it all. Enter the vast, complex and exhilarating world of the financial markets with a global broker.

The trading markets include 250+ financial instruments, Forex products with over 40 currency pairs including attractive FXTM CFDs on Cryptocurrencies such as Bitcoin, ETH, Litecoin, Ripple. Also, you may select spot metal CFDs, share CFDs on over 170 major companies, CFDs on Commodities and CFDs on Indices.

FXTM Review


FXTM Markets compared to similar Brokers
Currency pairs 48 57 49
Stock index CFDs 11 18 42
Stock CFDs 188 1,200 1,700
Commodity CFDs 3 15 18
Cryptos 4 5 25


EU and Non-EU clients can lower the default leverage level of the products. On the other hand, only a couple of options are available (for example 1:30, 1:25). The maximum leverage size varies based on the product and the volume of your trade, as well as the account type you choose.

Please note that different entities offer different instruments to trade with. What is available to you, depends entirely on your country of residence.

Platforms

FXTM trading technology and toolbar use the industry’s leading software third party providers, which doesn’t require a presentation, as these platforms are MT4 and MT5.

The MetaTrader 4 platform is still the most popular trading platform in the forex industry and it is very user friendly, has a quality charting offering, supports many languages and is secure.

The MetaTrader 5 platform is an upgrade to MT4 and it is easier to navigate and has a wider range of technical indicators that you can use.

Key differences between MT4 and MT5

Description MT5 MT4
Number of supported types of order execution. 4 3
Partial edit option where a trade that is now available with maximum volume is executed, not exceeding the volume requested in the order, and unfilled volume is cancelled. FXTM Review FXTM Review
Additional order execution conditions Fill or Kill
Immediate or Cancel
Return		 Fill or Kill
Types of pending orders requesting a broker to buy or to sell a financial security under pre-defined conditions in the future. 6 4
Having one open position of a financial instrument only. FXTM Review FXTM Review
Having multiple positions of a financial instrument, both in the same and opposite direction FXTM Review FXTM Review
Bids and offers for a financial security at different prices depending on the volume FXTM Review FXTM Review
Technical indicators are used to automatically detect patterns in the financial instrument price dynamics 38 30
Analysis tools that help to identify financial instrument price trends, to detect cycles and support / resistance levels, to build channels and more 44 31
Group quotes of financial instrument in time intervals. 21 9
A fundamental analysis tool which features macroeconomic news from numerous countries that can affect financial instrument prices FXTM Review FXTM Review
Built-in email service, where you can receive notifications from Alpari International straight to your platform. Yes
(with attachments)		 Yes
(without attachments)
EA tester and optimization modes. Multi-threaded
+ Multi-currency
+ Real ticks		 Single thread
Chat with other traders directly from the platform FXTM Review FXTM Review

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Web Trading Platform

They make it even easier for you to trade with the MT4/MT5 web platform – no software download required. With this intuitive web-based trading solution, all you need is an internet connection! Simply log in to your FXTM account, select your preferred browser and start trading.

The FXTM web trading platform has great customizability. You can easily change the size and the position of the tabs.

However, the platform feels outdated and some features are hard to find. For example, it took some time until we found how to add an asset to the watchlist.
FXTM Review
The Webtrader does not have a News Bar and is therefore adapted for use in trading with technical analysis only. If you want to trade with the news, the desktop versions are your best option.


Placing orders

You can use the basic order types. You will not find very sophisticated orders like the one cancels the other order. The following order types are available:

  • Market
  • Limit
  • Stop
FXTM Review

Alerts and notifications

You cant set alerts and notifications on the FXTM web trading platform. This feature is available only on the desktop trading platform.


Portfolio and fee reports

FXTM has clear portfolio and fee reports. You can easily see your profit-loss balance and the commissions you paid. These reports can be found under the History tab. We dont need to download them.
Keep in mind — no download doesn’t equal fewer benefits! You’ll enjoy all of the same great tools and perks as you do with the desktop and mobile app versions.

Supported Browsers: Internet Explorer 11*, Microsoft Edge 12*, Mozilla Firefox 34*, Google Chrome 43*, Safari 8*, Opera 32* *and higher


Desktop Trading platform

You can use MetaTrader 4 and 5 desktop trading platforms.

It has the same design, is available in the same languages, offers the same order types, has the same search functions, and offers the same portfolio and fee reports as the web trading platform.

The major difference is that you can set alerts and notifications in the form of mobile push and email notifications on the desktop trading platform. To set email or mobile notifications, you have to add your email address and mobile MetaQuotes ID (you can find it in the MT4 apps settings). You can add them if you go to Tools and then Options.

FXTM Review
Moble Trading Platform (MT4, MT5)

Both MT4 and MT5 have quality mobile apps that can be used on Android and iPhone devices. These apps can be downloaded from the respective app stores and they work just as well on mobile as they do on a desktop.
FXTM Review
Placing orders
You can use the same order types and order time limits as the ones on the web trading platform.

FXTM Review

Alerts and notifications

You can set alerts and notifications, although you can do it only on the desktop trading platform. It would be much easier if you could set these notifications on the mobile trading platform.

There is also a FXTM app which provides a variety of different tools and functions that helps a trader to make key decisions when reacting to different pieces of news.


Mobile Trading Plarform (FXTM Trader)

FXTM offers a proprietary mobile trading app which can be downloaded from the Google Play and iOS stores. This is an advanced version of the mobile apps offered until now.FXTM Review
With FXTM’s new forex trading app you can open and close positions in seconds, access live currency rates, manage your trading accounts, and stay one step ahead of the markets – anytime, anywhere. Download one of the market’s newest and best trading apps today.

The following Benefits and Features of FXTM trader app:FXTM Review

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Commissions


They offer flexible terms for floating commissions on ECN MT4. The higher your equity and the larger your trading volume, the lower the commissions you pay. Please see details below.

Commissions on ECN MT4

Equity (USD) Trading Volume (million USD)
Less Than 100 100 - 150 150 - 250 Over 250
0 - 2,999 20 19 18 15
3,000 - 4,999 19 18 17 14
5,000 - 19,999 18 17 16 13
20,000 - 49,999 17 15 13 11
50,000 - 199,999 16 13 11 9
200,000 - 499,999 14 12 10 8
500,000 - 999,999 13 10 8 6
1,000,000 - 4,999,999 12 9 6 4
Over 5,000,000 Determined on an individual basis


Commission on ECN MT4 is taken only when a position is opened, at double the levels listed in the table above (accounting for both the opening and the closing of the position). Since a clients total trading volume is calculated on a monthly basis, at the beginning of each month table-accordion commissions will be charged at the highest level and should the trading volumes increase during the month it will automatically be reduced to reflect the volumes traded.

Please note that the calculation formula for Commission on ECN MT4 is: (Volume * Contract Size * Open Price) / 1,000,000 * Commission * 2.

Assume you have a USD account with Equity between 0$ - 2,999$ and trading volume below 100 million. Commission for 1 lot per each symbol would be:

EURUSD: (1 * 100,000 * 1.21892) / 1,000,000 * 20 * 2 = 4.88 USD

AUDCAD: (1 * 100,000 * 0.97969) / 1,000,000 * 20 * 2 = 3.92 CAD / 1.30231 = 3.01 USD

XAUUSD: (1 * 100 * 1,323.25) / 1,000,000 * 20 * 2 = 5.29 USD

WSt30m: (1 * 10 * 24,182) / 1,000,000 * 20 * 2 = 9.67 USD

STOX50: (1 * 10 * 3,443.4) / 1,000,000 * 20 * 2 = 1.38 EUR * 1.15786 = 1.60 USD



Deposits Withdrawals

At FXTM, making deposits and withdrawals is simple and straight forward and hardly takes up any of your time.
A very wide range of deposit and withdrawal methods are supported by FXTM.

Account base currencies

At FXTM, you can choose from 4 base currencies: EUR, GBP, USD, NGN. NGN is available only for Nigerian residents.

This selection is almost the same as XTBs but lags behind XMs.
Base currencies at FXTM vs similar brokers
4 11 4


Why does this matter? For two reasons. First, if you fund your account in the same currency as your bank account, you are not charged a currency conversion fee. Second, if you trade assets in the same currency as your account base currency, you dont have to pay a conversion fee.

A convenient way to save on currency conversion fees is opening a multi-currency bank account. Revolut and Transferwise both offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.


Deposits

There are local options, debit and credit card choices, e-wallet offerings and bank wire transfer. Popular e-wallets offered are Skrill and Neteller. Deposit processing times are almost instant when it comes to the e-wallets and it can take 3-5 working days to process when you deposit via a bank transfer.

You can only deposit money from accounts that are in your name. No commission is charged on deposits
Methods for deposit/withdrawal at FXTM include:

  • Credit cards (Visa, MasterCard and Maestro)
  • E-wallets (Skrill, Neteller, DusuPay, FasaPay, DixiPay, WebMoney, CashU, QiWi, Yandex.Money, PerfectMoney).
  • Cryptocurrencies: BTC, ETH, LTC, DASH
  • International bank wires
  • Local bank wires to local accounts (selected countries only such as Tanzania, Nigeria, Kenya, Algeria, Afghanistan, Malaysia, Indonesia, Egypt, Iraq, Palestine, Thailand, China and Vietnam).
FXTM Review

What is the minimum deposit on FXTM?

The minimum deposit requirement for you to start trading at FXTM is set to as low as the $/€/£ 100 available for Account Standard and only 10$ for a Cent Account. Also, all deposit fees are covered by the company which is great for your smart money management.


Withdrawals

Unfortunately, FXTM charges a withdrawal fee for most withdrawal options. The most notable fees average to about $3 for withdrawal by credit card and about 30 EUR for bank transfers. Some E-wallets are free of charge.

Here is the detail of withdrawals Fees and Processing Time

Local Currency Fees / Commission Processing Time
FasaPay USD, IDR 0.5% 24 hours
African Local Solutions (D) NGN, GHS, RWF, TZS, XAF, KES, UGX, ZAR, BIF, ZMK 1 USD 24 hours
Latin American solutions MXN, BRL Brazil: 3.2%
Mexico: 1%+1 EUR		 3-4 business days
Sub-Saharan Africa and Dubai Local Transfer XOF, SOS, NGN, AED 24 Hours
Latin American Local Transfers BRL, UYU, MXN, PEN, CLP, COP 24 hours
Ghanan Local Transfers GHS 24 hours
Moroccan Local Transfer MAD 24 hours
TC Payment 24 hours
Latin American solutions via Skrill USD No Commission 3-4 Business Days
South East Asia Online Banking MYR, THB, IDR, VND 1.4 % 24 hours
Turkish Local Transfers TRY 24 hours
South Arabian Peninsula Local Transfer YER, SAR, SDG 24 hours
Nigeria Local Bank Wire Transfer NGN No Commission 24 hours
Indonesian Local Transfer IDR 24 hours
Algerian Local Transfers DZD 24 hours
Kenyan Local Transfers KES 24 hours
Local transfer for India and Pakistan 24 hours
Online Banking China (A) CNY No Commission 24 hours
Online Banking Malaysia MYR 2% 24 hours
Online Banking Indonesia IDR 2% 24 hours
Local Exchange House 24 hours
Afghani Local Transfers AFN 24 hours
Laos Local Tranfers LAK 24 hours
Nganluong (E-wallet banking channel) VND 1.1% + 0.05 USD 24 hours
GlobePay GBP, USD, EUR No Commission 24 hours
Egypt Local Transfer EGP 24 hours
Bangladeshi Local Transfer BDT 24 hours
Iraqi Local Transfers IQD 24 hours
Palestinian Local Transfers ILS 24 hours
Online Banking Vietnam VND 2% 24 hours
Online Banking Thailand THB No Commission 24 hours
China Online Banking (P) CNY No Commission 48 hours
Withdrawal Method Currency Fees / Commission Processing Time
Visa EUR, USD, GBP 2 EUR/ 3 USD/ 2 GBP 24 hours
Mastercard EUR, USD, GBP 2 EUR/ 3 USD/ 2 GBP 24 hours
Maestro EUR, USD, GBP 2 GBP/ 3 USD/ 2 EUR 24 hours
Withdrawal Method Currency Fees / Commission Processing Time
VIPSkrill / Moneybookers EUR, USD, GBP, PLN, CZK No Commission 24 hours
Crypto BTC, ETH, LTC, DASH 1% 24 - 48 hours
VLOAD USD, EUR No Commission 24 hours
TC Pay Wallet USD, EUR, AED No Commission 24 hours
VIPNeteller EUR, INR, USD, GBP, PLN, NGN No Commission 24 hours
WebMoney USD, EUR, RUR 2% 24 hours
Yandex.Money RUR 1.5% 24 hours
QIWI RUR 1.5% 24 hours
Perfectmoney USD, EUR 0.5 % 24 hours
Bitcoin BTC 1 % 24 - 48 hours
Konnexone USD 2 % Up to 1 business day
Withdrawal Method Currency Fees / Commission Processing Time
Bank Wire Transfer EUR 30 EUR 24 hours
How do I withdraw money from FXTM?

Once you decide to withdraw money from you account you obviously should submit an online request and follow with the required procedure. To make it short you simply should follow the following steps
 
  1. Login to your account in MyFXTM and go to "Withdraw Fund" through My Money
  2. Select the withdrawal method, required amount and click ‘Withdraw’
  3. Complete the withdrawal request along with PIN that will be sent to your email or phone via SMS
  4. Confirm withdrawal and Submit



Trading Features

All clients, except for UK clients, can use FXTM Invest, a social trading service.

You can choose if you want to be an Investor or a Strategy Manager. Investors can copy Strategy Managers trades. When you select a Strategy Manager, you have the option to filter them based on risk level, success fee, all-time profit, etc. In reverse, professionals may become managers and gain extra income by being copied.
FXTM Review

You can also trade in an automated manner using the MT4 and MT5 platforms. There is also the opportunity of trading with a Forex VPS.



Bonus and Promotions

FXTM offers Bonus programs. However, the Bonus program is strictly available only for the international brand of FXTM and those clients that are trading or holding an account with Exinity Limited, registered under the laws of Mauritius.

You can have access to Three different bonus categories on FXTM. These bonuses are as follows:
  • Refer A Friend Bonus: Earn $50 for you and every single friend or family member that you bring to FXTM.. You will need a referral link to be able to get going with this program.
  • FXTM loyalty program: Collect up to $5 every time you trade up to $10,000
 

Customer Support

There are numerous ways in which you can get in touch with a member of the FXTM customer support team. You can choose from live chat, email, telephone and social media.

Besides live chat, you can also chat with FXTM through WhatsApp, Viber, Telegram and Facebook Messenger.

They offer local support in many of the key countries in which their traders are located within, such as: Arabic, Czech, Chinese, English, Farsi, French, Hindi, Indonesian, Italian, Korean, Malaysian, Polish, Russian, Spanish, Urdu and Vietnamese. it is easy to get in touch with a team member that can help to quickly resolve your issues.

The FXTM customer support desk is available 24 hours a day, on regular weekdays.
FXTM Review

You also have the option of looking through their comprehensive FAQ section which could very well have the answer to your question.

FXTM Review

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Research Education

There is a lot of comprehensive research conducted by FXTM on a daily basis for both technical and fundamental analysis. They have a team of experts in place who provide daily videos and blog post, as well as in-depth reports every quarter.
FXTM Review

In terms of their education resources, there are regular webinars and many tutorials available for all levels of traders to benefit from. It covers a lot of the bases you need when it comes to trading. There are also regular seminars and workshops conducted across the world.
FXTM Review


Trading ideas

FXTM provides trading ideas based on technical tools. You can find them in MyFXTM, under Trading Services, and within that the FXTM Trading Signals section.
FXTM Review



FXTM education is one of the best we see in the industry, so this point is definitely well organized and highly recommended for your attention.


Conclusion

FXTM is well respected in the industry and this is reflected by the many awards they win on an annual basis. They are overseen by well-respected regulators and their platforms are very easy to use for beginners, as well as providing everything a more experienced trader needs.

Few firms have entered the forex brokerage market with such a flourish as FXTM did. This management team understands what it takes to please a highly demanding global clientele.

Overall, FXTM has a quality offering in most aspects. They have many different account types so you can find what suits your needs the best, they have competitive spread and a decent offering of instruments.

The range of options by which traders can get in touch with customer support is outstanding.

They have an abundance of banking options and regular processing times. There is a decent level of customer support and the trading platforms are industry standard.

The loyalty programme is also an advantage, as a direct discount is applied to every trade, bringing a fast reward. That said, the higher levels do require a substantial amount of investment in order to qualify, meaning it’s unlikely that rookie traders or those without considerable assets are going to enjoy much of a loyalty reward

If you are looking for an all-round solid broker, FXTM definitely makes the list.

Yet, we would be glad to know your personal opinion about Alpari, you may share your experience in the comment area below, or ask us for some additional information if required.

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