FXTM Review 2022: Is FXTM a reliable broker? See detailed broker review.

FXTM or ForexTime is a Cyprus based broker that provides a wide range of financial instruments, including stocks, indices, forex and commodities. The brokerage firm does not offer trading in cryptocurrencies.  FXTM is a Cyprus Securities and Exchange Commission (CySEC) regulated broker established in 2011 and operates under the Exinity group. The firm is known for providing a leveraged trading environment to its clients. Detailed FXTM review 2022

The broker provides an opportunity to trade with MetaTrader 5 and MetaTrader 4 along with the broker’s own trading software named FXTM trader. Both MT5 and MT4 are globally renowned trading platforms for providing a comfortable trading environment. In addition, the brokerage firm offers mainly three types of trading account types: Micro, Advantage and Advantage Plus.  

Pros and Cons

Pros

  • Tight fund protection
  • Tutorials and guides
  • Dedicated account manager
  • Fast execution 
  • Risk securities 
  • More than 30 technical indicators

Cons

  • No Cryptocurrencies 
  • No MT5 for micro account
  • Mandatory and high minimum deposit
  • No access to stocks and stocks CFDs in micro account

Is FXTM a Scam: Regulations

FXTM is regulated by the Cyprus Securities and Exchange Commission (CySEC) under the license number 185/12. The broker offers segregation of clients’ funds to ensure the safety of the client’s money. FXTM is also authorised by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295.

The operating corporation of FXTM is also a member of the Financial Commission. This regulatory body is an international organisation that resolves disputes within the financial services industry in the Forex market. The company is registered at Agiou Georgiou Makri, 64, Anna Maria Lena Court, Flat 201, 6037, Larnaca, Cyprus.

FXTM Review: Trading account types

FXTM provides three types of trading accounts for the convenience of each level of trader: beginner, intermediate and seasoned. The three types of trading accounts are Micro, Advantage and Advantage Plus. In addition, you can climb to premium account tiers by furnishing your trading skills and learn to trade with the demo account. 

FXTM also provides free demo accounts to its clients. Professional traders can also use the demo account to execute the trades with high capital. Here are the salient features of all three account types.

Micro trading account

  • $10 minimum deposit
  • Access to MetaTrader 4 only
  • No commission 
  • Spreads as low as 1.5
  • Leverage up to 1:1000
  • 40% stop out
  • 60% margin call
  • Up to 300 orders
  • Swap-free trading
  • No stocks, indices and stock CFDs

Advantage trading account

  • $500 Minimum deposit
  • MetaTrader 5 available
  • Spreads as low as 0 pips
  • Floating leverage up to 1:2000
  • Commission on trading varies from $0.4 to $2
  • 50% stop out
  • 80% margin call
  • Unlimited orders
  • Swap-free trading 
  • No limit and stop levels
  • Access to stock trading only with MT5

Advantage Plus trading account 

  • $500 Minimum deposit
  • MetaTrader 5 available
  • Floating leverage up to 1:2000
  • Spreads as low as 0 pips
  • No Commission 
  • 50% stop out
  • 80% margin call
  • Unlimited orders
  • Swap-free trading
  • No limit and stop levels
  • Access to stock trading only with MT5

FXTM Review: Account opening

You can open an account with FXTM  by entering your personal information covering your name, country, mobile number and email id. After submitting your application, wait for the verification. Once the verification process has been completed, fund the minimum deposit required for your account type and start trading. 

FXTM Review: Trading platform

FXTM offers trading opportunities through various trading platforms known for their smooth trading experience. You can choose from MT5 and MT4, whatever suits you according to your trading style. Other than these two trading platforms, FXTM offers FXTM Trader also. 

MetaTrader 5

The MetaTrader 5 platform is the latest and most advanced trading software compatible with all devices from mobiles, iPad, and tablets.  

  • 40+ analytical objects
  • Unlimited number of charts
  • Integrated economic calendar
  • 21 timeframes
  • Built-in technical analysis tools
  • News and alerts
  • Hedging position account systems

MetaTrader 4

MT4 is the most common trading platform among traders. This trading platform is adopted by a large number of traders across the world. It allows you to trade in all Android and iOS devices.  

  • More than 30 technical indicators
  • Nine timeframes
  • Market signals
  • Multi-device functionality
  • Three chart types
  • Real-time interactive charts
  • Access to trading history
  • Trade orders available

FXTM Trader

FXTM Trader is a trading app developed by FXTM itself. You can track your balance directly from the mobile app and check the live currency updates by accessing your trading account. 

  • Live currency rates 24/5
  • Track your trades with balance, profits and more
  • One-click trading option
  • State-of-the-art charting tools
  • Fast execution through the mobile trading platform

FXTM Review: Trading instruments

You can trade in various global markets through the brokerage firm FXTM. Multiple asset classes including stocks, indices, Forex currency pairs and commodities. But the major drawback is there are no cryptocurrencies to trade.  

Forex trading: Major currency pairs are available, including majors and exotic from USD/EUR to NZD/EUR. You can capitalise with variable spreads and flexible leverage with the broker.

Stock trading: Popular blue-chip stocks are available. You can invest in stocks of various mega-companies, including Apple, Google and Facebook. 

Indices: You can get your hands in popular indices covering Dow Jones industrial average, S&P 500 and AUS 200. 

Commodities: You can trade derivatives on each commodity, from precious metals such as gold, silver and platinum to Brent oil and natural gas.

FXTM Review: Commission and spreads

FXTM does not charge commission on stocks listed on NYSE and Nasdaq. Traders who use the MT5 trading platform pay a fixed commission of $4 per lot. 

Spreads are as low as 0 on major currency pairs and FX indices, including gold/dollar.  

FXTM Review: Leverage 

With FXTM, traders can access leverage up to 1:2000 with a notional value of not more than $50,000. As the notional value increases, the leverage shrinks. In addition, you can gain the advantage of floating margin up to 0.05%. Leverage varies according to the asset classes. 

You can find the complete classified table of leverage according to various trading instruments on the broker’s website. 

FXTM Review: Deposit and withdrawals

You can deposit and withdraw your funds through various methods with FXTM. Clients of the brokerage firm have several options, including credit cards (Visa, MasterCard, Maestro) and plenty of E-wallets such as Neteller, Skrill, Webmoney, Vload, TC pay wallet, Qivi, Webmoney, Perfect Money, etc. You can use bank wire transfer also, but it will take 3-5 business days to process. 

FXTM Review: Educational and research support

FXTM offers a wide array of educational materials in its education hub. There are ebooks, articles, glossaries, trading seminars, videos and webinars, periodic table and trading strategies. 

You can access the education centre of FXTM on its website and multiple devices, including mobile devices, laptops, desktops, and iPad and tablets.

FXTM Review: Customer support

FXTM provides dedicated client support to its clients via various options. You can get in touch with the customer support team via live chat, email, phone and contact form available on the broker’s website. 

Customer support contact details

Phone: +44 20 3734 1025

Email: [email protected]

Final Verdict

FXTM is an award-winning broker and known for its services. The broker provides a flexible trading environment to its clients. The major drawback of the broker is that it does not offer cryptocurrencies for trading. You can access tight spreads and flexible leverage with FXTM. There are various educational materials on the broker’s website to learn and get knowledge about the several international markets across the world.  

Get in touch with customer support agents via live chat, email and phone.

{{ reviewsOverall }} / 5 Users (0 votes)
Broker
Spread
Customer Support
What people say...Leave your rating
Order by:

Be the first to leave a review.

User AvatarUser Avatar
Verified
{{{ review.rating_title }}}
{{{review.rating_comment | nl2br}}}

Show more
{{ pageNumber+1 }}
Leave your rating

Get a Callback

A trusted broker will contact you today.

Name(Required)