The webs most detailed FXTM review: Forex Time is a well-known operator based in Cyprus dedicated to educating new traders that visit the platform. With a track record of over 10 years, this CFD broker has earned a good reputation over the years. Our expert decided to find out why.
• Regulated CFD broker
• Very low minimum deposit
• Micro account for new traders
• Few accepted currencies
• No option for market maker rebates
• The commission structure is not the most favorable
In this section of our FXTM review we highlight 6 special features that deserves extra attention.
This is a veteran CFD broker with over 10 years in the game. FXTM or ForexTime is located in Cyprus at this registered address: FXTM Tower, 35 Lamprou Konstantara,
Kato Polemidia, 4156, Limassol. This broker is regulated in several regions of the world which increases its trustworthiness.
FXTM is using segregated accounts at top-tier banks to keep customer funds safe and thanks to the CySEC regulation, all clients in Europe are protected by the Investor Compensation Fund which covers all potential losses up to €20,000 in the worst-case scenario. This broker has won several awards such as Forex Broker of the Year 2017, Best FX Broker Asia 2017, and Best Online Forex Trading Company Nigeria 2017.
Why use FXTM
This broker is for both beginners and advanced traders. Choose between different account levels depending on your experienced and how deep your pockets are. FXTM is very good for new traders thanks to the extensive education section where you can find guides written and published by already profitable traders.
Safety is a priority at Forex Time and if you want a trustworthy broker that is fully regulated you should give it a try. Start with the demo account and see how you like it. I would recommend traders who are looking for direct market access (ECN account) and low slippage use this platform.
Trading on FXTM
Both MetaTrader 4 and 5 are available as well as the in-house FXTM trader platform. There is also a well-developed ForexTime app that lets you take the markets with you where ever you go. You can open a trade on your desktop in the morning and close out the position on your smartphone by lunchtime. You can track all opened and closed positions very easily.
One-click trade is an option for traders who are looking to enter the market in seconds. This is a great tool for all day traders and scalpers who are very active. Due to the low slippage, the VPS routing, great order execution, and it’s worth your time if you are looking for a new place to trade.
Payment methods and limits
Most of the standard payment methods are available, including Visa, Mastercard, Maestro, Skrill, Neteller, PayPal, WebMoney, and Bank Transfers. The minimum deposit is $10, the minimum withdrawal is $0.01, and the maximum withdrawal has no limit.
Things we don’t like
There are not many negative aspects to this CFD broker. It is delivering a very solid environment for both new and experienced traders. It has a good number of special features which are always good for traders who like a lot of variety and utility.
However, FXTM doesn’t stand out amongst the crowd with any groundbreaking design or platforms to trade on. It’s a very decent broker and if you are looking for a safe place to trade you should give it a go. We recommend things broker for all our traders!
FXTM Trading Fees
About the special features on FXTM
This CFD broker has a decent amount of special features, many of which you need to be logged in to see. They have focused their energy on a selected base of features that are really good. For example, customer support is insanely good. I always get instant replies from the live chat and I absolutely love to see this, good job! All funds on FXTM are insured by the Investor Compensation Fund in Cyprus. Thanks to this regulation you can trade safely knowing that your funds are backed up by a government to an amount of €20,000 or 90% of your current capital.
The trading signals on FXTM have been designed by their own professionals. With this tool, you have the potential to unlock higher profit potential and explore new scenarios that you haven’t seen before. Stop losses and all popular technical indicators are of course included.
FXTM is a big believer in education and all new traders are welcome to use all free education tools right off the start. There is a deep forex education section on FXTM that I recommend all new traders visit to learn some of the basic do’s and dont’s.
If you are an experienced trader who is looking for an extra edge while day trading then an ECN account is exactly what you need. You benefit from better spreads, direct market execution, and no requotes. Basically, you will get better prices and cheaper spreads with an ECN account.
Protection of funds
FXTM has your funds segregated in a group of selected top banks that are not connected to the company itself. Your funds are never touched by FXTM and will never be used for any business activities other than your own trades.
Lightning-fast order execution
FXTM offers very fast order execution and has its own performance scoreboard on the platform where you can see how well they have done when it comes to order execution and slippage over the year. Take a look at the statistics to see how well they have done over the year.
Our own experience with FXTM
FXTM Funding Methods
|Max Withdrawal Limits||$15000 daily|
|Min Withdrawal Limits||$0.01|
|Min Deposit Limits||$5|
FXTM Withdrawal Fee
Is FXTM safe?
Yes, ForexTime is a safe CFD broker to use. They keep all your funds in segregated top-tier banks outside of the company business.
Is FXGM regulated?
Yes, FXTM is regulated in Cyprus by the CySEC, in the UK by the FCA, in South Africa by the FSCA, and in Mauritius by FSC.
Frequently asked questions
Read the most frequently asked questions about FXTM. Find answers without searching the web.
Yes, ForexTime Limited is a licensed company with government regulation.
You can deposit as little as $10 if you want to start out small.
When I asked the live chat about the withdrawal procedure they said that they process all withdrawals the same day, which is good. Bank Transfers take around 3-5 business days, Credit or Debit cards take between 3-5 business days, and E-wallets take 1 business day to go through.
Yes, ForexTime is regulated by the FCA in the UK, by CySEC in Cyprus, by FSC in Mauritius, and by the FSCA in South Africa.
The ECN account on ForexTime is an Electronic Communication Network system that gives traders the option to access other market participants through an interbank. With this system, you will trade with other traders and the market maker itself. There is also no extra premium on the spread in the market, therefore calling it a raw spread.
This is a CFD broker.