FXTM, or ForexTime, is a global CFD and FX broker that was founded in 2011. Several financial authorities regulate it, including the Financial Conduct Authority (FCA) of the United Kingdom and the Cyprus Securities and Exchange Commission (CySEC). Because of its focus on Africa and Asia, the company has seen tremendous and rapid growth within Europe and beyond in a relatively short period of time.
In this FXTM review, we look at how traders can trade from anywhere in the world, regardless of their level of experience. The broker establishes its core on reliable trading conditions and detailed education and brings trading across the globe. However, a network of FXTM offices has been established throughout Europe, with a base in the United Kingdom and a presence in South Africa.
Because FXTM is regulated by the top-tier FCA, it is considered safe.
Disclaimer: CFDs are sophisticated financial instruments that carry a high risk of losing money quickly due to leverage. When trading CFDs with this provider, 77% of retail investor accounts lose money
Licenses for FXTM
- ForexTime Limited is a Cyprus-based company with a CySEC (Cyprus) registration number of 185/12.
- FSCA (South Africa) registration number 46614 for ForexTime Limited.
- 777911 ForexTime UK Limited – authorized by FCA (UK) registration no. 777911
FXTM is well-known forex and CFD brokerage. This review goes over their account types, trading app, demo account, and, of course, trading platform, which includes MT4. We also include any current bonus offers as well as key comparison information like minimum deposit and trade amounts. Continue reading and log in now.
Fees And How We Ranked Them
- Based on how FXTM’s fees compare to those of all reviewed brokers, we rated them as low, average, or high.
- Fees for trading and non-trading should be kept in mind.
- When you trade, you will incur trading fees. Commissions, spreads, financing rates, and conversion fees are examples of these.
- Non-trading fees include things like withdrawal fees and inactivity fees that aren’t directly related to trading.
Platform for Trading
- FXTM provides a number of different trading platforms. These are the most popular trading platforms with a good reputation.
- Both Metatrader versions are simple to use and include shortcuts that make opening and closing trade simple and quick.
- The most relevant FXTM fees for each asset class are listed in the sections below. Spreads, commissions, and financing rates, for example, are the most important fees in forex and stock index trading.
FXTM’s fees were also compared to those of two similar brokers we chose, FP Markets and Markets.com. This decision is based on objective criteria such as the products offered, the client profile, the fee structure, and so on. A more detailed list of FXTM alternatives can be found here.
Let’s start with the trading fees to get a clear picture of FXTM.
Pros and Cons of FXTM
FXTM is a well-known and regulated broker with numerous regulated entities around the world. Account opening is simple, and FXTM has one of the most reasonable deposit requirements. Trading conditions are favorable, with low spreads, excellent customer service, and Forex education.
FXTM customer service responds quickly and accurately. They can be reached in a variety of languages. The process of opening an account is simple and completely digital.
FXTM has high CFD fees, which is a disadvantage. In addition, an inactivity fee and, in most cases, a withdrawal fee is charged. The product portfolio is limited due to the absence of certain asset classes.
Assets / Markets Instruments Offered Will Vary Depending On The Trader’s Country Of Residence.
- Indices and Commodities CFDs on Forex (FTSE, DAX, Nasdaq, etc)
- Metals to look for (Gold, Silver)
- CFDs on stocks (Apple, BP, Google, etc)
In addition, the broker has launched 11 new dynamic currency and stock basket indices, divided into 6 forex and 5 stock indices. This is a fantastic opportunity to trade in cutting-edge new financial products under favorable trading conditions.
What is the Level of Risk?
However, keep in mind that proper leverage should be applied to various instruments, as this can increase your risk and potential losses. As a result, FXTM leverage is determined by a variety of factors, the first of which is set in accordance with regional regulatory requirements.
FXTM is not a scam; it is a well-regulated broker operation comprised of three entities: ForexTime Ltd, ForexTime UK Ltd, and Exinity Limited, all of which provide trading services to over 10,000 clients from over 135 countries. It’s also worth noting that FXTM follows all necessary regulatory guidelines in every region where it operates, earning it a high trust rating from us. This is the most important question because investor accounts lose money, and if you trade with an unregulated entity, the risk of losing money is significantly higher and regulated by a number of different jurisdictions around the world. ForexTime Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC), authorized by the South African Financial Services Commission (FSCA), and supervised by the Mauritius-based offshore authority FSC.