ForexTime (FXTM) Review

Details

Broker	ForexTime (FXTM)
Website URL	www.forextime.com
Founded	2012
Headquarters	FXTM Tower 35 Lamprou Konstantara Kato Polemidia, 4156 Limassol, Cyprus
Support Number	+357 25 558777 fax: +357 25 558778
Support Types	phone, fax, live chat, email: [email protected]
Languages	English, Spanish, Chinese (Simplified), Indonesian, French, Hindi, Chinese (Traditional), Arabic
Trading Platform	FXTM Standard, FXTM Fixed Spread, FXTM Cent, FXTM ECN, FXTM ECN MT5, FXTM ECN ZERO, FXTM ECN ZERO Amanah
Minimum 1st Deposit	$1
Minimum Account Size	$1
Minimum Trade Amount	$1
Maximum Trade Amount	$100,000
Bonus	$2 cashback per lot or $4 for *broker move overs
Payout	within 48 hours
Leverage	1:1, 10:1, 50:1, 100:1, 200:1, 500:1, 1000:1
Spread	0 pips*
Free Demo Account	Open Demo
Regulated
Regulation	Regulated by CySEC, FSA and MiFid
Commissions
Commission Info	FXTM ECN Account: from $20-$4 per 1 mln, FXTM ECN Zero Account: no commission, FXTM Amanah Account: profit sharing from 7%-2%, All other accounts: no commission
Account Types	FXTM ECN Account, FXTM ECN Zero Account, FXTM Amanah Account
Deposit Methods	Skrill, Credit Card, Neteller, Unionpay, Wire Transfer, Debit Card, Others
Withdrawal Methods	Skrill, Credit Card, Neteller, Unionpay, Wire Transfer, Debit Card, Others
Trading Methods	Trading from charts, EA Compatibility, PAMM, Swap free accounts (Sharia Law), Scalping, Hedging Facilities, 24 Hour Trading
Number of Assets	5000+
Types of Assets	forex, spot metals, commodities, ETFs, indices, CFDs, shares
Account Currency	EUR, USD and RUB
US Traders Allowed
Mobile Trading
Tablet Trading
Overall Score	8.9

Full Review

ForexTime (FXTM) company information

ForexTime is still a young broker as it’s only founded in december 2012. However, it has already won two prizes ‘’Best Newcomer 2013’’ and ‘’Fastest Growing Forex Broker’’. On ForexTime or FXTM traders can not only trade forex but also CFDs on commodity futures, ETF’s, shares and spot metals.

ForexTime (FXTM) trading platforms

Traders can trade on ForexTime on several different platforms including MetaTrader 4 (MT4) and MetaTrader 5 (MT5). It’s also possible to download the latest MetaTrader on your smartphone and.or tablet so you can trade anytime, anywhere yo want using ForexTime. ForexTime also offers ECN MT4 and ECN MT5 accounts for professional traders who want to have the tightest spreads and commissions whilst share and forex trading.

ForexTime account types

ForexTime (FXTM) offers seven types of accounts including standard accounts and ECN accounts.

– FXTM Cent
– FXTM Fixed Spread
– FXTM Standard
– FXTM ECN
– FXTM ECN MT5
– FXTM ECN ZERO
– FXTM ZERO Amana (Islamic Trading Account)

None of these accounts require a minimum deposit. Traders can literally open a trading account at ForexTime (FXTM) from just $1.

ForexTime commissions and spreads

ForexTime (FXTM) charges different spreads and commissions depending on type of trading account. Where FXTM Fixed Spread and FXTM Cent trading accounts spreads from 2.1 pips, FXTM Standard accounts only charge 0.1 pips and ECN trading accounts have no spreads at all but a commission payable per amount of round traded lots. The commission paid to ForexTime (FXTM) depends on the amount of trades executed.

ForexTime customer support

The ForexTime (FXTM) customer support is available in English, Spanish, Chinese (Simplified), Indonesian, French, Hindi, Chinese (Traditional), and Arabic by phone, fax, email and live chat using the ForexTime website. The multi-lingual support can assist anyone with questions regarding trading, opening/closing accounts and deposits/withdrawals. Recently ForexTime (FXTM) added the possibility to contact customer support by Skype as well.

ForexTime reliability

ForexTime or FXTM is regulated by three different regulatory organizations: the Cyprus Exchange Commission (CySEC) under license number: 185/12, by the British FCA and by MiFID. ForexTime or FXTM can take customers from anywhere in the world except the United States. Clients funds are backed up by a compensation scheme up to $20,000.

ForexTime review conclusion

With super tight spreads and no minimum required deposit ForexTime (FXTM) is one of the best forex, spot metals and CFD brokers available worldwide except the United States. Being regulated and licensed by three different regulatory organizations make ForexTime (FXTM) both a reliable forex and spread betting broker. The huge amount of educational material offered on the FXTM website is perfect for both new and seasoned forex traders. The availability to trade the markets using the latest MetaTrader on PC, smartphone and tablet in addition to the FXTM web based trading platform makes trading with the lowest spreads possible, hence very attractive for experienced (day) traders. Nothing to complain about ForexTime (FXTM), it’s simply an excellent broker.

Pros

• No minimum deposit requirement
• Tight spreads (starting from 0 pips)
• Loads of educational and tutorial material available
• Reliable and regulated forex and ECN broker
• Available on smartphone and tablet

Reviews

There is no review.