FXTM Review 2021

Content on this page is intended for information and educational purposes only and should not be considered as an investment advice or investment recommendation.
FXTM Interface
FXTM-Interface
October 12, 2021
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Updated: 25 / 10 / 21
10 min read
FXTM BROKER REVIEW
Content on this page is intended for information and educational purposes only and should not be considered as an investment advice or investment recommendation.
Risk disclaimer (more information)
FXTM is a well-established forex and CFD brokerage firm. Their service is described in full here, including account kinds, the trading app, the sample account, and of course the trading platform, which includes the MetaTrader 4 platform. As well as listing any current bonus offers, we also provide important comparative information such as minimum deposit and minimum trading amount. Continue reading and logging in today.

About FXTM

About FXTM
About FXTM
FXTM is one of the forex brokers. It began operations in 2011. By participating in active trading or investment programs, it provides the opportunity to make money. The firm is regulated by the CySEC (Cyprus Securities and Exchange Commission), the FSCA (Financial Sector Supervisory Authority) of South Africa, the FCA (Financial Conduct Authority) of the United Kingdom, and the FSC (Financial Services Commission) (Financial Supervisory Commission of Mauritius). Numerous honors have been bestowed upon the broker, including "Best Trading Conditions" (in 2018 and 2019) and "Most Innovative Broker" (2018).
FXTM-awards-2021
FXTM-awards-2019
FXTM-awards-2018
FXTM-awards-2020
As traders, the safety of our money and assets is our number one concern, regardless of the market conditions. FXTM recognizes this, which is why the brand provides retail customers with complete segregation of money on a daily basis. These money are kept in high-quality banks and are fully separated from the firm's other assets and liabilities. Investor Compensation Fund (ICF): Brand is a member of the Investor Compensation Fund (ICF), which is a program designed to safeguard retail customers and pay them in the event that the company is unable to refund their money or financial instruments owing to financial difficulties, as the case may be.

In addition, FXTM has implemented the Secure Sockets Layer (SSL) network security protocol to protect its customers' data. This is required in order to maintain a secure connection for all conversations with its customers. It also protects consumers when they deal with the company's representatives. Furthermore, FXTM is dedicated to providing complete transparency to its customers.

Additional to this, when you register for an account with FXTM, you will get a security badge in the mail at the phone number or email address you provided during registration. These are extra security procedures that the brand employs in order to keep its clients secure in the trading environment in which it operates as a broker.
The following is a summary of the regulations and financial security:

  • Transparent Broker who is regulated and approved.
  • Clients funds are held in segregated accounts at top-tier financial institutions.
  • Fund for Compensation of Investors
  • SSL (Secure Socket Layer) (Secure Socket Layer) The Network Security Protocol (NSP) provides a safe trading environment.

Pros and Cons

FXTM Pros
  • Broker who is safe and trustworthy
  • Broker who is globally regulated and licensed
  • Demo account is provided for free
  • A low minimum deposit of $10 is required
  • Tight spreads start at 0.0 pips
  • Excellent educational materials, many of which are free
  • Excellent customer service and support in multiple languages
  • More trading options for all types of traders
  • Platforms that are both competitive and user-friendly
FXTM Cons
  • Weekend trading is not permitted
  • Expensive CFD fees
  • Fees for inactivity and withdrawal
  • Product portfolio is limited

Fees and commissions

For Forex traders, commission percentages are quite modest, while commission percentages for CFD transactions are in the vicinity of the industry standard. Spreads as low as zero pips are possible with ECN account choices, and fees as low as $0.2 per lot are also possible. Standard Account spreads start out a bit higher than with the Micro Account, but they stay very competitive throughout the trading session.
ForexTime is an excellent service with which to trade in this capacity.
Please keep in mind that spreads are floaters, which means that they may rise at certain times of the day depending on the market's mood.

Although the business does not charge any extra fees, there are a variety of other costs that may be imposed, making them a more costly option. As an example, there is an inactivity fee, which implies that if your account isn't utilized for a certain amount of time, you will be charged.

Account types and Account opening

FXTM has just revamped its live accounts and now offers three different types of accounts:
Overview of accounts on forextime.com
FXTM-Micro-account
Micro
This is the simplest and most accessible account. Low minimum deposits, tight spreads, and no commissions are all available. Execution is immediate, and the option is swap-free. Assets are slightly restricted, and the number of open orders is limited to a certain number.

Register Micro Account
Micro
This is the simplest and most accessible account. Low minimum deposits, tight spreads, and no commissions are all available. Execution is immediate, and the option is swap-free. Assets are slightly restricted, and the number of open orders is limited to a certain number.

Register Micro Account
FXTM-Micro-account
Advantage
FXTM offers the most affordable trading accounts. MT4 or MT5: which is better? (Swap free on MT4). Spreads starting at 0.0 with extremely competitive commission rates. There is a wide variety of markets and currency choices, as well as an infinite number of open orders.

Register Advantage Account
Advantage
FXTM offers the most affordable trading accounts. MT4 or MT5: which is better? (Swap free on MT4). Spreads starting at 0.0 with extremely competitive commission rates. There is a wide variety of markets and currency choices, as well as an infinite number of open orders.

Register Advantage Account
FXTM-Micro-account
Advantage Plus
MT4 or MT5 as a trading platform (Swap free on MT4). Spreads starting at 1.5 with no commission.. Full variety of markets, market execution, and the ability to place an infinite number of orders.

Advantage Plus Account
Advantage Plus
MT4 or MT5 as a trading platform (Swap free on MT4). Spreads starting at 1.5 with no commission.. Full variety of markets, market execution, and the ability to place an infinite number of orders.

Advantage Plus Account
All accounts have a minimum order level of 0.01 lots, which applies to all transactions.

This selection of accounts is designed to meet the needs of the majority of customers, including Islamic customers. All accounts come with a comprehensive set of benefits that can be tailored to meet the specific needs of each customer.

Demo Account

FXTM provides traders with a high-quality demo account that they may use to improve their trading abilities before risking their hard-earned money. Because forex trading is typically seen as a high-risk type of investment, it is essential to ensure that you have the necessary skills before starting to "trade for real."

Demo accounts are available for the Standard, Cent, ECN, and ECN Zero Accounts, as well as the ECN Zero Account.

The process of establishing an FXTM account is simple and entirely digital. Our account was authorized within one business day after completing the online application, which took about 25 - 30 minutes.

The seven stages to establishing an FXTM account are as follows:
1
Fill up the blanks with your email address, first and last name, and country of residence. Along with your email address, you must provide your phone number, to which FXTM will send a PIN code.
2
Select the kind of account you want to open from the drop-down menu.
3
Include other personal information, such as your date of birth and educational level.
4
Please include your current mailing address.Please include your current mailing address.
5
Describe your financial history and experience in response to a few questions.
6
Fill out a quiz to assess your financial knowledge and abilities.
7
Identify yourself and your place of residence by uploading a copy of your passport / ID / driver's license, along with a bank statement or utility bill.
1
Fill up the blanks with your email address, first and last name, and country of residence. Along with your email address, you must provide your phone number, to which FXTM will send a PIN code.
2
Select the kind of account you want to open from the drop-down menu.
3
Include other personal information, such as your date of birth and educational level.
4
Please include your current mailing address.Please include your current mailing address.
5
Describe your financial history and experience in response to a few questions.
6
Fill out a quiz to assess your financial knowledge and abilities.
7
Identify yourself and your place of residence by uploading a copy of your passport / ID / driver's license, along with a bank statement or utility bill.
Fxtm-demo-account
Fxtm-demo-account
Demo Account FXTM trading review

Deposit and withdrawal

Deposit and withdrawal-FXTM
There are many ways to complete deposits, including the ones listed below:

Visa \Maestro \Mastercard \Neteller \Skrill

Some deposit methods need a two-hour processing period, while others are instantaneous in their processing. There are no fees associated with any of the deposit options.

he amount of the minimum deposit varies depending on the kind of account:

  • Advantage of £/$/€50 in small denominations
  • Withdrawals of £/$/€500 with an additional £/$/€500 advantage
It is possible to withdraw money from your account using one of the following methods:
Withdrawals from credit/debit cards
For Visa, Maestro, and Mastercard transactions, the transaction is typically completed the same business day. The money may be withdrawn in the following currencies: USD, GBP, and EUR. The commission is fixed at 2EUR/3USD/2GBP per transaction.
Withdrawals from e-wallets
Withdrawals from Neteller are handled the same day they are requested. Money may be withdrawn in the following currencies: USD, GBP, and EUR. There is no commission charged.

Similar to deposits, withdrawals from Skrill are free of charge and are completed within a single working day.
Bank transfers
Bank transfers take up to 24 hours to complete, and the only currencies accessible are the British pound and the euro. Bank transfer costs are 10 EUR or 5 GBP each transaction.
You should use a credit card, Neteller, or Skrill to make a withdrawal if that is your intention.

Please keep in mind that before authorizing a withdrawal, FXTM may need further information. If this information is not provided immediately, the withdrawal process may take considerably longer than the specified time frame.
Deposit and Withdrawal

FXTM Web trading platform

MetaTrader4 Vs MetaTrader5 FXTM
MetaTrader4 Vs MetaTrader5
The MT4 and MT5 platforms are supplied by FXTM and are used for trading. These platforms, on the other hand, are only available in a variety of configurations for network, desktop, and mobile devices.

MT5 \FXTM

A version of MT4 that has been enhanced, MT5, may be downloaded from your MyFXTM personal account. But what is it that you receive with MT5 that you don't get with MT4 and vice versa?

If you want to become a trader whose techniques are copied, you may join the FXTMInvest program for a fee. This is possible with MT5 with the press of a button, as shown below:
MetaTrader4 Vs MetaTrader5 FXTM
MetaTrader4 Vs MetaTrader5
You'll also get access to a larger indicator set, which includes 38 built-in indications, as opposed to the 30 indicators available in MT4.

Besides offering a greater number of time periods to select from, the tool also has a "Market Depth" feature that displays which positions are being taken by buyers and sellers in the market.

The MT4 bridge software is required in order for MT4 ECN Zero and ECN on FXTM accounts to function. As a result, traders using both of these types of accounts may take use of the same MT4 functionality.

On MT4, you have access to the standard tools as well as the 30 built-in indicators that are available on the platform.

To access the entire asset index, choose the "Symbols" tab (View -> Symbols) or press Ctrl + U on your keyboard. After that, you may click on the "Show" button to bring up the "Market Watch to Trade" box, which will show them all.

The Capabilities tab provides you with access to a variety of features relating to Expert Advisors (EA), charts, and trading server software.

VPS-Forex supports the use of the MT4 and MT5 trading platforms for round-the-clock trading. The FXTM MT4 Multiterminal, which is utilized by client account managers, is also available for purchase.

WebTrader FXTM offers a WebTrader, which is an online version of the MT4 platform, for its clients. Access is accessible via this URL, and it needs a secure login using the account credentials that were received when the account was set up.
FXTM-mobile trading
FXTM-mobile trading
VPS-Forex supports the use of the MT4 and MT5 trading platforms for round-the-clock trading. The FXTM MT4 Multiterminal, which is utilized by client account managers, is also available for purchase.

WebTrader FXTM offers a WebTrader, which is an online version of the MT4 platform, for its clients. Access is accessible via this URL, and it needs a secure login using the account credentials that were received when the account was set up.
Due to the absence of a news panel, Webtrader is best suited for usage in conjunction with technical analysis while trading. If you want to trade while still keeping up with the latest news, the desktop versions are your best option.
Platform overview for any device type on forextime.com

FXTM Mobile trading platform

FXTM-mobile-app
Mobile trading is available via FXTM's MetaTrader 4 trading platform. We tested our mobile trading platform in the same way that we tested the online trading platform.

MetaTrader 4 is a trading platform that is accessible for both iOS and Android. We put it through its paces on Android.

After you have downloaded the MT4 mobile trading software, you must connect to an FXTM server, such as ForexTime-ECN, to begin trading.

On the mobile trading platform, you may choose from a variety of languages in the same way that you do on the online trading platform. On Android smartphones, changing the language may be a bit of a challenge. You can only accomplish this if you alter the default language of your cell phone's settings.
Mobile trading is available via FXTM's MetaTrader 4 trading platform. We tested our mobile trading platform in the same way that we tested the online trading platform.

MetaTrader 4 is a trading platform that is accessible for both iOS and Android. We put it through its paces on Android.

After you have downloaded the MT4 mobile trading software, you must connect to an FXTM server, such as ForexTime-ECN, to begin trading.

On the mobile trading platform, you may choose from a variety of languages in the same way that you do on the online trading platform. On Android smartphones, changing the language may be a bit of a challenge. You can only accomplish this if you alter the default language of your cell phone's settings.
FXTM-mobile-app
Mobile FXTM platform

Desktop trading platform

The MetaTrader 4 and MetaTrader 5 desktop trading platforms are available for use. We put the MetaTrader 4 desktop trading platform through its paces.

In addition to having the same look and being accessible in the same languages as the online trading platform, it also supports the same order types, including Trailing Stop, has the same search features, and provides the same portfolio and fee data.
FXTM-Desktop trading platform
The most significant distinction is that on the desktop trading platform, you may configure alerts and notifications in the form of mobile push notifications and email notifications. It is necessary to provide your email address and mobile MetaQuotes ID (which can be found in the MT4 app's settings) in order to get email or mobile alerts. If you go to 'Tools' and then 'Options,' you may add them to the list.
FXTM-Desktop trading platform
The MetaTrader 4 and MetaTrader 5 desktop trading platforms are available for use. We put the MetaTrader 4 desktop trading platform through its paces.

In addition to having the same look and being accessible in the same languages as the online trading platform, it also supports the same order types, including Trailing Stop, has the same search features, and provides the same portfolio and fee data.

The most significant distinction is that on the desktop trading platform, you may configure alerts and notifications in the form of mobile push notifications and email notifications. It is necessary to provide your email address and mobile MetaQuotes ID (which can be found in the MT4 app's settings) in order to get email or mobile alerts. If you go to 'Tools' and then 'Options,' you may add them to the list.
Desktop FXTM platform

Markets and products

According to the majority of industry analysts, FXTM provides a decent variety of markets and account features in comparison to other brokers.
The trading markets offer over 250 different financial instruments, Forex products with over 50 different currency pairings, as well as attractive FXTM CFDs on cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple. Additionally, you may choose from spot metal CFDs, share CFDs on over 170 major businesses, commodity CFDs, and index CFDs, among others.
FXTM-Markets and products
FXTM-Markets and products
FXTM-Markets and products

Research tools and assets

The following are the places where FXTM's research tools are available:

MetaTrader trading systems are used for day trading.

The 'Market Analysis' part of the website and the 'Trading Services' section of MyFXTM offer trading ideas that are based on technical indicators. Trading ideas FXTM provides trading ideas based on technical indicators. You can find them in MyFXTM, in the 'Trading Services' area, and within that part, in the 'FXTM Trading Signals' section, as well.

Facts and figures that are fundamental
Fundamental data is not available via FXTM.

In terms of charting tools, FXTM is above average. These charting tools may be found in the MetaTrader trading platforms, which are available for download.

37 technical indicators and editor tools, such as trendlines and Fibonacci retracement, are available for use in your trading.

The design, on the other hand, is out of date, and some of the functions are difficult to use. To provide an example, we had trouble figuring out how to delete an indication from the chart.
Feed of recent news

There are market updates and different research tools, such as a Forex News Timeline and market analysis films produced by FXTM, available on the website under the 'Market Analysis' area.

You may also benefit from a fantastic economic calendar. The filter feature on the calendar, which also allows traders to filter by nations, data kinds, and volatility, is one of our favorites.
Economic calendar screenshot from forextime.com
Economic calendar screenshot from forextime.com
Other market research tools that you will find useful.

You may also utilize some additional technical research tools in MyFXTM, if you so choose. In order to evaluate price direction and market mood, you may use a tool called FXTM Pivot Points Strategy, which is available for free.

FXTM Customer care

In addition to its client-oriented philosophy of operation, FXTM provides professional customer support services that are accessible via a variety of channels such as online live chat, phone, emails, and messaging apps.
FXTM Customer care
FXTM Customer care
Beyond the positive and high respect that customers have for FXTM in terms of its excellent reputation, the company also supports a wide variety of languages, ensuring that you can always rely on assistance whenever you will need it.
There are established centers throughout the Asia-Pacific area, including Indonesia, Malaysia, Thailand, China, as well as the Africa-Pacific region, Europe, and other regions, making it accurate to say that FXTM serves the requirements of traders across the world.
Contacts of FXTM Group

Education material

Overall, we can describe FXTM's primary strategy as one that is focused on the customer, regardless of the trader's trading money, experience, or style. FXTM has a solution to suit virtually every requirement, and they offer excellent service in almost every aspect of their business.
In terms of education, FXTM hosts regular educational events in different locations across the globe, meeting the need for people to begin their trading adventure and providing them with learning materials for anybody who wants to become involved in the market.

The following resources are still available to you: Webinars and seminars, platform tutorials, trading and research tools, a comprehensive dictionary of terms, forex news, an economic calendar, market outlooks, and analyst commentary.

Finally, FXTM education is among the finest we have seen in the business, so this point is unquestionably well structured and highly suggested for your consideration.
In terms of education, FXTM hosts regular educational events in different locations across the globe, meeting the need for people to begin their trading adventure and providing them with learning materials for anybody who wants to become involved in the market.
FXTM-Education material
The following resources are still available to you: Webinars and seminars, platform tutorials, trading and research tools, a comprehensive dictionary of terms, forex news, an economic calendar, market outlooks, and analyst commentary.
Finally, FXTM education is among the finest we have seen in the business, so this point is unquestionably well structured and highly suggested for your consideration.
Learning Center of FXTM

Is FXTM Safe?

It is a well-regulated entity with three companies operating under the FXTM brand: ForexTime Ltd, ForexTime UK Ltd, and Exinity Limited. The company serves more than 10,000 customers from more than 135 countries across the globe via its trading services. It is also essential to note that FXTM complies with all regulatory requirements in every jurisdiction in which it operates, earning it a high rating from us in terms of trust.
Is FXTM Safe? Screenshot from forextime.com
Is FXTM Safe? Screenshot from forextime.com
This is, without a doubt, the most important issue, since investment accounts lose money, and if you trade with an unregulated company, the high danger of losing funds is significantly increased even more.

FXTM is a legitimate broker since each of the businesses and brands that it services has been approved and regulated by a variety of international regulatory bodies.

The primary company, ForexTime Ltd, is regulated by the Cyprus Securities and Exchange Commission (CySEC), approved by the Financial Services Commission of South Africa (FSCA), and an extra offshore regulator, the Financial Services Commission of Mauritius (FSC). Furthermore, the FXTM UK brand is regulated by the Financial Conduct Authority, which is a well-known sharp regulator with principles based on European MiFID and ICF standards, enabling for cross-broker activity to take place.

Alternatives to FXTM

When searching for FXTM alternatives, we've prepared a list of the best 5 brokers that have a similar style and feel, which you can find below. This list of brokers that are similar to FXTM is arranged in descending order of similarity and only contains businesses that accept traders from your geographic area as clients.
exness-loho
Exness:
plus500-logo
Plus500:
binomo-logo
Binomo:

Overall verdict

An established trading platform and broker, FXTM offers a number of significant advantages over many competitors.

Crucially, it is regulated by the FCA. This not only provides UK customers with plenty of protection, it also shows that the company is one that is run in a transparent and accountable manner.

The site places a heavy emphasis on education and customer care – this is a site that takes its responsibilities to its customers seriously. It's also a site that has a good range of trading platforms and accounts – no matter what type of trader you are, there's an account which is suitable for your needs.
FXTM Overall verdict
FXTM Overall verdict
Fees are, on average, in the low to medium range. The range of options by which traders can get in touch with customer support is outstanding.

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.

With so many benefits, it's little wonder that this is a popular, well-established site which has stood the test of time.

Frequently Asked Questions

Is FXTM broker legit?
FXTM is a globally regulated brand that offers a high level of dependability in its brokerage activities, according to the company. It is regulated by the Financial Conduct Authority (FCA) in the United Kingdom and the Cyprus Securities and Exchange Commission (CySEC). As a result, it provides investors with compensation programs in order to safeguard its traders, and it keeps its operating capital separate from its customer accounts.
Is FXTM good for beginners?
FXTM is better for experienced traders.
Is FXTM real or fake?
FXTM is a real and very reliable broker. This FXTM trading review will show you the facts telling that this broker is completely legal and regulated.
What type of broker is FXTM?
For almost a decade, FXTM has been a prominent forex and CFD trading broker. They cater to traders of all skill levels by providing a diverse selection of marketplaces and six different account types. FXTM provides forex trading on a large number of different currency pairings. With the ECN account types, spreads may be as low as 0.1 cents per cent.
Which country is FXTM from?
The Cypriot Securities and Exchange Commission established and regulated FXTM at the beginning.
Is FXTM regulated in India?
Yes, FXTM is regulated in India.
What is the minimum deposit for FXTM?
A low minimum deposit of $10 is required.
Who is the founder of FXTM?
The founder of FXTM is Andrey Dashin.

GENERAL RISK WARNING:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
87% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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