FXTM (also known as ForexTime) is an award-winning CFD and Forex broker established in 2011. It is regulated by top-tier regulatory bodies across the world including the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Service Commission (FSC), International Financial Services Commission (IFSC), and Financial Sector Conduct Authority (FSCA).
FXTM is suitable for both beginner and professional traders due to its flexible service offering. Furthermore, it offers various tailored account types with slightly different trading conditions to meet the high demands of its clients. This makes it a great broker for different trading styles and strategies such as day trading, scalping, algorithmic trading, etc.
Along with offering different optimized account types, traders can also enjoy a bunch of great trading services such as a user-friendly trading platform, secure deposit and withdrawal methods, negative balance protection, low forex trading fee, helpful educational resources, and great customer service.
Table of Contents
At A Glance
| Broker | FXTM |
|---|---|
| Established | 2011 |
| Headquarters | Ioannis Stylianou, 6, Floor 2, Flat 202 2003, Nicosia, Cyprus. |
| Regulations | FCA (United Kingdom), CySEC (Cyprus), FSC (Mauritius), IFSC (Belize), and FSCA (South Africa). |
| Publicly Listed | No |
| Broker Type | STP, ECN, Market Maker |
| Product Offering | Forex and CFD. |
| Trading Platforms | MetaTrader 4, MetaTrader 5 and WebTrader. |
| Asset Classes | Forex, Indices, Metals, Commodities, Indices, and Stock Baskets. |
| Minimum Deposit | Standard Account – $100 Cent Account – $10 Stocks CFD Account – $100 Stocks Account – $500 ECN Account – $500 ECN Zero Account – $200 Pro-Account – $25,000 |
| Account Currencies | EUR, USD, GBP, NGN. |
| Maximum Leverage | Standard Account – 1:2000 Cent Account – 1:1000 Stocks CFD Account – 1:10 for US Shares and 1:3 for European Shares. Stocks Account – 1:1 ECN Account – 1:2000 ECN Zero Account – 1:2000 Pro-Account – 1:200 |
| Pricing Model | Spreads and Commissions. |
| Lot Sizes | Micro, Mini, Standard |
| Deposit & Withdrawal Methods | Bank Wire Transfer, Credit/ Debit cards, Skrill, and Neteller. |
| Demo Account | Yes |
| Islamic Account | Yes |
| Scalping | Yes |
| Hedging | Yes |
Pros and Cons
Pros
- Strong regulatory framework.
- Fast account registration process.
- Dedicated and multi-lingual customer support, with fast response time.
- Great educational resources.
- Multiple tailored account types for different types of traders.
- Wide variety of secure deposit and withdrawal methods.
- A variety of secure payment methods.
- Low forex trading fee.
- No deposit fee.
- Fast withdrawals and deposits.
- Great customer support service.
- Multi-lingual and friendly customer support.
- Negative balance protection.
Cons
- Does not accept clients from the United States.
- Average CFD fees.
- Withdrawal fee on most payment methods.