FXTM
Overall Rating:★ ★ ★ ★ ★ (4.7 / 5)
Introduction★ ★ ★ ★ ★ (5/5)
Licensing and Regulation★ ★ ★ ★ ★ (5/5)
Mobile Trading★ ★ ★ ★ (4/5)
Brand & Functionality★ ★ ★ ★ ★ (5/5)
Registration Process★ ★ ★ ★ ★ (5/5)
Depositing Process★ ★ ★ ★ (4/5)
Product Offering★ ★ ★ ★ ★ (5/5)
Trade Execution★ ★ ★ ★ (4/5)
Banking★ ★ ★ ★ ★ (5/5)
Customer Support★ ★ ★ ★ ★ (5/5)
Trading Tools★ ★ ★ ★ ★ (5/5)

Broker Information

User Rating
FXTM
5 (100%) 2 vote[s]
Leverage
Instruments
Platforms
Account Types
Account Currency
Commissions
Founded
Customer Support
Min Funding

    Introduction

    ★ ★ ★ ★ ★

    FXTM, or Forex Time, is an international brokerage company established by Andrey Dashin, who is the creator of the world-renowned Alpari line of forex companies. In 1998, Dashin placed a lot of focus on developing the U.S and European forex trading markets. However, his last venture managed to capture almost everything else. FXTM is regarded as one of the fastest growing forex brokerage companies in the industry. To successfully support the rapid increase of global clients, the brand decided to open several offices around the world with its headquarters based in Cyprus. The company also boasts an office in London, United Kingdom.

    Several corporate press releases relating to the company reveal their achievements that are based around its transparency, innovation, integrity, and drive to offer clients the most exceptional trading experience. The broker’s services and products are fully comprehensive. Whether you are a newcomer or an experienced trader, the site offers everything you need thanks to the easy to navigate and all-encompassing website. The company offers STP as well as ECN accounts while utilising the popular MT5 and MT4 trading platforms. There are also dedicated mobile apps on both Android and iOS devices to trade while on the move.

    Licensing and Regulation

    ★ ★ ★ ★ ★

    The FXTM brand boasts with several regulatory licenses in multiple jurisdictions to cater to their worldwide clientele. The company is regulated and licensed in the EU thanks to their CySEC regulated brand within Cyprus as well as South Africa thanks to the Financial Services Board. The company is also licensed and regulated in the United Kingdom by the Financial Conduct Authority and in Germany via BaFIN. In addition, the company also boasts with licenses in Italy with CONSB and in France with AMF. Furthermore, FXTM impresses with licenses in Spain with CNMV and in Norway with FSAN.

    Mobile Trading

    ★ ★ ★ ★

    FXTM comes equipped with dedicated mobile trading apps for both Android and iOS devices. The dedicated mobile apps can be downloaded from Google Play Store for Android devices and the Apple App Store for iOS devices. The mobile trading apps boast with all the innovative features and trading platforms that are available on its desktop counterpart, including the MetaTrader 5 and MetaTrader 4 trading platforms. Traders will be able to transact on their accounts, stay up-to-date with the latest news and trends, and customise their accounts with their mobile devices. They also have the advantage of contacting support on the go using their mobile or tablet devices.

    Brand & Functionality

    ★ ★ ★ ★ ★

    FXTM is an award-winning brand that has been offering its products and services to clients since its inception in 2011. The FXTM brand boasts with an incredible variety of awards, including Best Online Forex Trading Company in Nigeria in 2018, Most Reputable Investor Education Broker in 2018, Forex Brand of the Year in China, Best Forex Education Prover, Best Trading Conditions, Best FX Broker in Asia, Best Forex Broker in Russia, and Best Innovative Broker in 2018. The company also boasts several awards in 2017, 2016, 2015, 2014, and 2013. This gives clients a very good indication of how the brand functions and operates towards its clientele.

    Registration Process

    ★ ★ ★ ★ ★

    Registering a new FXTM account is quick and easy. Simply click on ‘Register’ at the top of the homepage and fill in your first and last name, country of residence, mobile phone number, email, and preferred password. Once your mobile phone number is entered, you will need to request a pin that you will need to provide before you can continue with the registration process. After you entered the pin, you will be taken to a new page where you will need to provide your personal information. This will include information such as gender, date of birth, and citizenship and your current address. Once this step is completed, you will then be able to select your account type.

    FXTM currently offers 10 different account types, including FXTM Standard, FXTM Standard MT5, FXTM Cent, FXTM Pro, FXTM ECN, FXTM ECN Zero MT5, FXTM ECN MT5, FXTM ECN Zero, FXTM Pro MT5, and FXTM Shares Account. You will also need to select from three account currencies, including GBP, USD, and Eur as well as your preferred account leverage. Once you filled in all the necessary information, your account will be successfully registered, allowing you to make a deposit with several deposit options.

    Depositing Process

    ★ ★ ★ ★

    FXTM offers one of the most comprehensive lists of depositing options in the industry. Each of these deposit methods are safe, secure, and reliable. The list of deposit methods includes VISA cards, Mastercard, Skrill 1-Tap, Neteller, Alfa-Click, Webmoney, Perfect Money, Bitcoin, Bitcoin by Skrill, Dusupay, and Armswissbank. Most of the deposit methods will reflect your funds instantly, except for Bitcoin deposits that can take up to 24 hours and Armswissbank deposits that can take between 3 to 5 working days. There is no commission or fees on any deposit method and to make a deposit. You simply need to select your preferred payment method. Then enter the necessary details, and provide the amount you wish to deposit. Each deposit method will present details on the right-hand side of the site for added convenience.

    Product Offering

    ★ ★ ★ ★ ★

    Apart from offering ten different account types and two of the most popular trading platforms, there’s also plenty of promotions and contests available at FXTM to get excited about. Newly registered traders will be treated to a $30 bonus when you sign up with FXTM. The only requirements are that you make a minimum deposit within six months to receive the credit. Apart from the welcome offer, traders can also indulge in the Double Loyalty Cashback promotion. This will see you receiving cashback in cash rebates as opposed to virtual credit or reward points. The site also offers a risk-free trading environment with their FXTM Titans demo trading contest.

    Trade Execution

    ★ ★ ★ ★

    FXTM features one of the fastest trade executions in the industry. That speed in trade execution supports the many awards the company has been received over the years. FXTM acts as a principle which means the company is considered the sole execution venue for all client orders. When a client’s orders are executed, it may route its own orders to licensed and regulated Non-EU and EU financial institutions. Orders where the price reaches Sell Stop, Sell Limit, Take Profit, Stop Loss, Buy Stop, and Buy Limit are all instantly executed. However, during vital microeconomic new releases, pricing gaps, rapid market movements, etc. The company reserves the right to execute your order at the first available price.

    Banking

    ★ ★ ★ ★ ★

    The banking section at FXTM utilises the latest and most technologically advanced SSL encryption technology to ensure both your personal and financial information is safe and secure from third-party hackers. FXTM processes over 84% of its funds within 5 minutes, giving the company more than 90% in positive feedback. The banking section also comes equipped with current conversation rates and internal transfers for added convenience along with all the necessary information you need on each and every deposit and withdraw method available on the site.

    Customer Support

    ★ ★ ★ ★ ★

    Apart from offering one of the most comprehensive forex trading sites in the industry, it further impresses with one of the best support centres in the world. Traders are able to contact the support desk through several live chat facilities, including Live Chat, Viber, Facebook Messenger, and Telegram. You can even request a Call Back where the support desk will contact you within minutes to assist you with your query or request. In addition, you can send them an email to 7 different departments or give them a call from 7 different countries as listed on their site.

    Trading Tools

    ★ ★ ★ ★ ★

    FXTM is regarded as a MetaTrader broker that offers the standard experience. This essentially means that it provides the suite of platforms that have been created by the MetaQuotes Software Corporation who developed the MetaTrader 4 and MetaTrader 5 trading platforms for web-based, mobile, and desktop.

    While MT4 and MT5 come standard with limited variations when it comes to functionality from broker company to broker company, there are significant differences in how each trading platform is set up for administrative areas, features, tools, execution, commissions, and trading spreads. Apart from spreads, the account types and range of instruments is basically a summary when it comes to the differences between the MetaTrader 4 trading platform and the MetaTrader experience. This includes news headlines stream from ForexStreet while offering MT4 and MT5 web. Apart from the native signals markets available in MetaTrader, the company also provides additional auto-trading thanks to the company’s invest platform, offering over 700 strategy providers which traders can follow. Please keep in mind, however, that this can only be used when you register an ECN Zero account through the myFXTM portal.

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