Forextime, popularly known as FXTM, is a leading online forex and CFD broker that has been serving traders worldwide since 2011.FXTM offers an extensive array of financial instruments, including forex, commodities, indices, and stocks, catering to over 4 million clients across 150 countries. Whether you're a seasoned trader or just starting, Forextime provides cutting-edge tools, including the popular MetaTrader platforms, and a wealth of educational resources to enhance your trading skills. With competitive spreads, low commissions, and a commitment to transparency and security, FXTM empowers traders to navigate the financial markets with confidence and precision.
⪧ Starting with an Introduction to FXTM
FXTM (ForexTime) is a global online forex and CFD broker, founded in 2011 by Andrey Dashin. The company is headquartered in Limassol, Cyprus, with additional offices in the UK, Mauritius, and South Africa.
FXTM is led by CEO Nicholas Defteras, who has been with the company since its inception. Olga Rybalkina serves as the CEO of ForexTime Limited, a key entity under the FXTM brand.
Regulated by multiple authorities, including CySEC, FCA, and FSCA, FXTM prioritizes the security of client funds through segregated accounts and partnerships with reputable financial institutions. The broker has received numerous industry awards for its services and trading conditions.
| Key feature | Details |
|---|---|
| Regulations | CMA (Kenya), FSCM (Mauritius), FCA (United Kingdom) |
| Supported Languages | English, Arabic, Italian, Spanish, Chinese, Polish |
| Products | Currencies, Stocks, Crypto, Indices, Commodities |
| Min Deposit | $200 |
| Max Leverage | 1:2000 (CMA), 1:3000 (FSCM), 1:30 (FCA) |
| Trading Desk Type | No dealing desk |
| Trading Platforms | MT5, MT4, Mobile Platform |
| Deposit Options | Wire Transfer, Skrill, Credit Card, PayRedeem, Debit Card, GlobePay, PerfectMoney, Neteller, Local Transfer, FasaPay, M-Pesa, TC Pay Wallet |
| Withdrawal Options | Wire Transfer, Neteller, Skrill, Credit Card, PerfectMoney, PayRedeem, GlobePay, Debit Card, Local Transfer, FasaPay, M-Pesa, TC Pay Wallet |
| Demo Account | Yes |
| Foundation Year | 2011 |
| Headquarters Country | Cyprus |
Trading Platforms | Empowering Traders with Latest Technology
FXTM understands the importance of providing traders with powerful and user-friendly trading platforms. The broker offers two of the most popular platforms in the industry: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
1. MT4:
MetaTrader 4 (MT4) is a widely popular platform known for its user-friendly interface, advanced charting tools, and extensive range of technical indicators. MT4 allows traders to access a wide range of markets, including forex, metals, commodities, and CFDs. The platform is available for download on various devices, including PC, Mac, mobile, and tablet, providing traders with the flexibility to trade anytime and anywhere. MT4 also supports automated trading through Expert Advisors (EAs) and offers a built-in programming language called MQL4 for developing custom trading strategies.
2. MT5:
MetaTrader 5 (MT5) is the next-generation trading platform that builds upon the success of MT4. It offers additional features and enhancements, such as more timeframes, a built-in economic calendar, and the ability to trade stocks and futures alongside forex and CFDs. MT5 also supports a more advanced programming language called MQL5, which allows for the development of more sophisticated trading robots and strategies. Like MT4, MT5 is available for download on multiple devices, including PC, Mac, mobile, and tablet.
| Feature | MT4 | MT5 |
|---|---|---|
| Markets | Forex, Metals, Commodities, CFDs | Forex, Metals, Commodities, CFDs, Stocks, Futures |
| Timeframes | 9 | 21 |
| Technical Indicators | 30+ | 80+ |
| Programming Language | MQL4 | MQL5 |
| Hedging | Not Available | Available |
| Economic Calendar | Not Built-in | Built-in |
Account Types | Tailored to Your Trading Style and Needs
FXTM offers a range of trading account types designed to cater to the diverse needs of traders. The two main account types are the Advantage account and the Advantage Plus account.
1. Advantage Account:
The Advantage account is FXTM's most popular account type, offering ultra-tight spreads starting from 0.0 pips on major currency pairs like EURUSD and EURGBP, as well as spreads as low as zero on Gold/US Dollar (XAUUSD). This account features a competitive commission rate of $3.5 per lot traded on FX, $25 per million notional on Spot Metals, and $35 per million notional on Index CFDs and Commodity CFDs. Traders can access a wide range of markets, including forex, metals, commodities, indices, and stock CFDs (only on MT5). The Advantage account provides market execution, ensuring orders are processed automatically at the best available market price.
2. Advantage Plus Account:
On the other hand, the Advantage Plus account offers commission-free trading with slightly wider spreads starting from 1.5 pips. This account is ideal for experienced traders who prioritize zero commissions over tighter spreads. The Advantage Plus account provides access to the same range of trading instruments as the Advantage account, including forex, spot metals, index CFDs, commodity CFDs, cryptocurrency CFDs, and stock CFDs (only on MT5).
Here's a comparison table of the Advantage and Advantage Plus accounts:
| Feature | Advantage | Advantage Plus |
|---|---|---|
| Spreads | From 0.0 pips | From 1.5 pips |
| Commission | $3.5 per lot traded on FX, $25 per million notional on Spot Metals, $35 per million notional on Index CFDs and Commodity CFDs | Zero |
| Trading Instruments | Forex, Metals, Commodities, Indices, Stock CFDs (only MT5) | Forex, Spot Metals, Index CFDs, Commodity CFDs, Cryptocurrency CFDs, Stock CFDs (only MT5) |
| Minimum Deposit | $/€/£ 200, ₦80,000 | $/€/£ 200, ₦80,000 |
| Platforms | MT4 / MT5 | MT4 / MT5 |
| Leverage | Up to 1:3000 (floating) | Up to 1:3000 (floating) |
| Margin Call | 80% | 80% |
| Stop Out | 50% | 50% |
⪧ Deposit and Withdrawal Methods | Secure and Convenient Funding Options
FXTM offers a variety of secure and convenient deposit and withdrawal methods to ensure that traders can easily manage their funds.
1. Deposit Methods: Most deposit methods are processed instantly, allowing traders to start trading right away.
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2. Withdrawal Methods: Withdrawal requests are processed within 24 hours, and the funds are credited to the trader's account within 1-5 business days, depending on the chosen method.
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Asset Classes
Forextime offers a multitude of asset classes for trading, allowing traders to access global financial markets from a single platform.
Most Common Queries
Is FXTM a regulated broker?
Yes, FXTM is regulated by several top-tier authorities including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Commission (FSC) in Mauritius.
Does FXTM charge any fees?
FXTM has competitive trading fees, with tight spreads and low commissions on the Advantage account. There are no deposit fees, but some withdrawal methods incur a fee.
What is the minimum deposit at FXTM?
The minimum deposit to open a live trading account is $200 for both the Advantage and Advantage Plus accounts.
Does FXTM offer copy trading?
Yes, FXTM provides a copy trading platform called FXTM Invest where you can follow experienced strategy managers and copy their trades automatically with a minimum investment of $100.
What educational resources does FXTM provide?
FXTM offers an extensive range of educational materials including webinars, video tutorials, articles, guides, e-books, and in-person seminars.
Does FXTM offer trading tools and market analysis?
Yes, FXTM provides various free trading tools such as live market news, an economic calendar, trading signals, technical analysis tools, and daily market analysis from in-house experts.
How do you contact FXTM customer support?
FXTM offers customer support 24/5 via live chat, email, and local phone numbers in over 20 countries. Support is available in 18+ languages and reviewers praise the helpful and prompt assistance.
⪧ Final Say
FXTM offers a range of trading accounts and platforms to suit different trader needs, including the popular MetaTrader 4 and 5. FXTM stands out for its low trading fees, fast account opening process, and responsive customer support. However, potential drawbacks include inactivity and withdrawal fees, as well as a limited product range compared to some competitors. The broker is regulated by several top-tier authorities, including the FCA, which adds to its credibility. While FXTM may not be suitable for all traders, particularly those in restricted countries, it remains a solid choice for many, especially those interested in forex and CFD trading in emerging markets.
