CySEC and UK’s FCA apply compensation schemes as an additional guarantee to clients’ funds. FXTM is a Licensed Forex and CFD broker based in Limasol Cyprus, which started with a unique vision to provide unparalleled superior trading conditions, advanced education and state-of-the-art trading tools in the forex industry, is now one of the global authority in Forex and CFD trading. There’s alot of user feedback or community discussion available on FXTM, but from what some information is out there, it seems that it might be a scam broker – at least some people at forexpeacearmy.com seem to think that. Given the regulatory/legal background of FXTM, it is perhaps not surprising that this broker is indeed a legitimate one. What is sort of surprising though is that the clients base of FXTM have reached a world record of 1,000,000 in less than a decade.
All CySEC-regulated companies are members of the Investor Compensation Fund, able to provide compensations to a maximum of 20,000 EUR per person in the event of broker insolvency. Clients of FCA-regulated brokers, on the other hand, are insured up to 50 000 GBP each. In spite of this, FXTM is officially registered with a number of other EU regulators: Germany’s BaFin, Italy’s CONSOB, France’s AMF, Spain’s CNMV and Norway’s FSAN.
FXTM is powered by 3 major companies all around the world; ForexTime Limited, ForexTime UK and Exinity Limited. ForexTime Limited(ForexTme.com/eu), oversees FXTM services in Europe and South Africa. ForexTime Limted is reguated by the Cyprus Securities and Exchange Commission CySEC with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475. ForexTime UK (www.forextime.com/uk) is authorised and regulated by the Financial Conduct Authority with license number 777911. Their offshore branch, Exinity Limited (www.forextime.com) is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295. FXTM Nigeria is located at 3rd Floor, 5, Allen Avenue, Ikeja Lagos, Nigeria. The phone number provided is +234 1 460 1586.
Customer support hotlines is +44 20 3734 1025, but they have multilingual support in China, Nigeria, Thailand. India, Indonesia, Malaysia and South Korea.
Now, In spite of the number of enhancements made to MT5 lately (and the final introduction of hedging on both desktop and web versions), MetaTrader 4 is still preferred by most brokers and experienced traders. It provides an advanced charting package, lots of technical indicators, extensive back-testing environment and a variety of Expert Advisors (EAs). Thanks to its ease of use, MT4 is also suitable for beginner traders, for they can also find their way around it quite easily.
MT4’s successor, MetaTrader 5, allows the execution of orders in several financial markets and stock exchanges through a single trading account. The platform features advanced charting package, trading and analysis tools, alerts, signals, and customizable indicators. Besides, MetaQuotes has recently made many significant upgrades to it, such as adding a tool for analyzing exchange markets, news management improvement, and most importantly the hedging feature.
Read more about MT4 Forex brokers
FXTM is currently one of the Fastest growing Forex brokers, which specializes in trading Forex and Crypto currencies. They were founded in 2011 and are owned and operated by ForexTime Limited, a Cyprus based company. As it stands, FXTM is a global authority in Forex and CFD trading having billions in traded volume.
The reason we have mentioned FXTM having one of the largest volume is that this can play an important role in your overall trading experience. Having the large volume indicates a tighter spread, meaning the difference between buying and selling prices on FXTM is expected to be among the lowest. Additionally, having a large volume makes it prone to having the best liquidity. Most importantly though, it will generally lead prices across most other brokers, so even if you do not intend to register with them, it would be a good idea to regularly monitor their EURUSD prices.
As an established authority in forex trading, every statistics you see on FXTM are verified and published by PricewaterhouseCoopers Limited (PwC) in accordance with International Standard on Assurance Engagements (ISAE) 3000.
ForexTime (FXTM) is a popular Forex broker and Crypto Currency, and CFD trading company using the most intuitive platforms in the market place. If you were looking for more info on FXTM (ForexTime.com) before deciding on which broker to choose, then look no further. From the good to the bad, we lay out all available information from A to Z, helping you to make an informed and safe investment decision.
- Positive Slippage
- Excellent order execution speed
- Competitive requote rate
- Good customer satisfaction
- Solid regulation (FCA, CySEC)
- Variety of tradable products (incl. cryptocurrencies in Exinity Limited only) and trading accounts offered
- Tight ECN spreads, low-cost trading
- Low minimum initial deposit & commission fees
- Flexible leverage levels offered
- Negative Balance Protection
- No major disadvantages
FXTM Trust Score
Here at ForexBrokerExpert.com, we have reviews of many Forex brokers and trading software with Trust score of 1-100. The number one item we check when reviewing a broker to see if they are a scam is a valid tier-1 license.
The reason smart people online invest with a licensed broker, is because there are many investment scams online. By using a licensed and regulated broker, you know your money is safe, and the company is monitored by the governments regulators.
FXTM Trust Comparison
|Grade 2 License||2||0||1||1|
|Grade 3 License||0||0||0||0|
FXTM Accounts Type
Basically FXTM offers 2 kinds of accounts; standard and ECN accounts. FXTM standard accounts are in the form of standard account(MT4/MT5), Cent account(MT4), Share account(MT4). They are all commission free with SWAP-free option, floating spreads with instant execution. The share account supports 180+ US shares with fixed leverage and hedging.
FXTM Accounts Summary
|Account type||Minimum deposit||Maximum leverage||Average Spreads|
|Standard||$100||1:30||0.6 (+commission N/A)|
For those who are interested in FXTM Invest and fast execution, Hedging and scalping, floating leverages, should choose one of the FXTM ECN accounts which are available in EUR, GBP, USD and NGN. ECN Zero and Pro accounts are commission free. ECN MT4 and ECN MT5 accounts involve a small commission fee of $4 (per standard lot round trip). The FXTM Pro account has a minimum deposit of $25,000. This special accounts comes with the tightest spread starting from 0pips, ultra-fast Market execution – no requotes, floating leverage up to 1:200, deep liquidity directly from our tier-1 providers, no last-look pricing and like other ECN accounts have a SWAP-free option available. The FXTM Pro is intended for institutional investors like banks, companies and hedge funds.
Compare Fees and Commissions
|Broker||Minimum deposit||Min. trade size||Maximum leverage||Average Spreads|
|FXTM||$10||0.01 lot||1:500||from o pips|
|XM||$5||0.01 lot||1:500||from 0.1 pips|
|BDSwiss||$200||0.01 lot||1:500||from 1.0 pips|
FXTM is using MT4 and MT5 trading platform as their preferred tools of trade and they support automated trading. These MetaQuotes software platforms are available in desktop, web and mobile versions (for iOS & Android devices) and included good charting features, market analysis and strategy selection for expert advisors.
MT5 is highly praised by the trading community for its ease of use and useful features: the top-notch charting, the support for automated trading via Expert Advisors, easy customization and more. Besides, the MT5 enables traders to execute trades on different financial markets (including exchange-traded stocks) through a single account, which is its main advantage over the MT4.
FXTM Platform comparison
FXTM Payment Methods
FXTM offers various secure payment methods, including credit/debit card payments, Bank Wire transfers, and numerous E-wallets, such as Skrill, Neteller, Alsfa-Ckick, WebMoney, Western Union, Payza, dotpay, Yandex, Qiwi,and Baidu Pay.
The above depends on your country of residence.
One of the most liquid broker available, thus allowing users to exchange major currencies against USD or BTC with minimal slippage.
FXTM Order Execution Speed
FXTM’s award-winning order execution speeds ensure that your trading experience is superior at all times. Simply open a position and FXTM will execute your trades in lightning-fast record-breaking speeds.
FXTM Requote Rates
Allow FXTM to fill clients orders even when markets experience extra high volatility through top-tier banks and financial institutions. You don’nt have to worry about orders being placed at a different price because FXTM has a very low requote percentage in extreme price volatility.
FXTM Invest Managers
FXTM Invest provides a way for inexperience investors to trade the market by providing good strategy manager and copy their trades. To help you decide who could be the most suitable Strategy Manager for you, FXTM shows you the live rankings of the top performers, as verified by PwC.
FXTM Customer satisfaction
FXTM offers a beginner friendly service in every aspect of your trading, making their trading experience optimal and user-friendly. This they do by; super-fast client approval procedure to swift client fund processing.
Location: Global international Forex broker
Minimum deposit: $10
Spread: On ECN MT4 account amounts to 0.4 pips on EURUSD.
Leverage: Capped at 1:i000 on Exinity Limited; 1:30 on ForexTime Limited
Assets: Forex pairs, CFDs on indices, commodities, precious metals, stocks, and cryptocurrencies.
Terms and conditions: Favourable
Support MT4: MT4 and MT5 Supported
License: Excellent License
FXTM Licenses & Regulations
There are many Forex brokers to compare and choose from online. The main reason you should choose a licensed broker, instead of a scam broker is because you want to trade and not worry about the brokers finances.
FXTM is licensed and regulated by CySEC in Europe, with license number 185/12, see here.
- In South Africa they are licensed by the Financial Services Board with FSP No. 46614.
- In the United Kingdom they are licensed by the Financial Conduct Authority (FCA), license number 777911.
- Outside the European Union, FXTM is owned by Exinity Limited and regulated by the Financial Services Commission of Mauritius. Their FSC license number is C113012295.
Taking the #1 spot this is currently the Fastest growing Forex broker on the market, and nobody else comes close.
Compare FXTM & Competitors
Each broker appeals to a different type of investors. Many investors have multiple trading accounts, depending on the brokers services. Here are some of the most popular Forex brokers today.
XM Webtrade is suitable for beginner and seasoned traders alike. Traders can get started with the trading software real account, or test the waters with a demo account with $100,000USD of virtual currency, learn more.
FXTM Review Conclusion
FXTM has stood out among the crowd because they care for their clients in terms of listening to their needs and addressing complaints appropriately.
Even though FXTM is a decent broker, it doesn’t mean that the broker is immune to public criticism especially from people who are not pleased with their way of operation. Every genuine business must have a few complaints submitted against them here and there. But this does not necessarily discredit them because it all depends on how complaints are handled.
So far, we can say that FXTM is a very straight-forward broker. They are always willing to make their clients comfortable while using their platform. We’ve seen their staff taking feedback very seriously on websites such as Forex Peace Army.
We are no longer using a faceless broker. Instead, we are using a company that is more than willing to respond to issues raised by their customers. It’s not by coincidence that they’ve lasted this long and are still continuing to thrive in the business.