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ForexTime4 min read
Broker Review
ForexTime or FXTM is an international professional who provides an expanded range of online trading and investment services in the international currency market for clients from 99 countries. The main advantages are fast processing of orders under the best conditions, reliability, convenience and a wide range of services in the personal workspace. Broker ForexTime has a solid license and a good reputation for customers, as evidenced by positive reviews. Traders will have access to a wide range of trading instruments. You can use currency pairs, precious metals, futures, contracts for difference. The total number of trading instruments is more than 100.
Platforms
75
Usability
69
Assets
94
Users rating39 Votes
72
Pros Broker
Fast account opening
Low trading fees
Loyalty cashback program
Segregated client funds
Cons Broker
Inactivity and withdrawal fees
Only MetaTrader platforms
Limited Crypto Trading
Customer support is not available 24/7
79
Overall Broker Rating
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Review of the company

ForexTime FXTM is a forex broker focused on different skill levels, which was founded back in 2011 by Andrei Dashin. Despite the fact that ForexTime is one of the new brokers, it is growing rapidly and for its lifetime has received many awards. Overall, we are completely satisfied with the services. FXTM is a great option for anyone looking to start trading foreign exchange easily.

ForexTime Limited is licensed by the Financial Sector Conduct Authority (FSCA) with FSP No. 46614. The company is also registered with the UK Financial Conduct Authority (FCA) under number 600475. With FXTM, traders can trade a good set of instruments. There are over 50 currency pairs. Those who prefer to diversify their investments can also trade CFDs, spot metals, stocks and commodity futures. In addition, they can trade index CFDs and ETFs, as well as cryptocurrency CFDs.

Account types

The fees charged by FXTM depend on the type of account. There are no fees for using standard accounts, Cent accounts, stock accounts, zero ECN accounts or FXTM Pro accounts. ECN accounts have a commission of $2 per lot. ForexTime offers dozens of ways to replenish and withdraw funds to attract a wide range of customers. Top-up options include PayPal and FasaPay, local transfers using Visa, Mastercard or Maestro. VIP players can make deposits through Neteller or Skrill / Moneybookers. All customers can also deposit funds through Cryptocurrencies, Dusupay, Dixipay, WebMoney, Yandex.Money, FasaPay, QIWI, Perfectmoney, Bitcoin via Skrill, Bitcoin or Konnexone. Finally, there is the possibility of a bank transfer. The output methods are almost identical, with some differences. Most withdrawal processing periods are 24 hours, with the exception of China Online Banking, which takes 48 hours. You can complete transactions in USD, GBP, EUR, and other national currencies.

The minimum and maximum ForexTime deposits depend on the type of account you choose. Standard accounts, general accounts, ECN accounts and zero ECN accounts have a minimum deposit of $100. They do not have a maximum deposit. Cent accounts have a minimum deposit of $5, with no maximum deposit. FXTM Pro accounts have a minimum deposit of $25,000 and no more.

ForexTime really offers an account for everyone. Standard accounts include a standard account, a CENT account (with micro lots) and a stock account. ECN accounts include an ECN MT4 account, an ECN MT5 account, an ECN ZERO account. In addition, an ECN Manager account, FXTM Pro, FXTM Pro MT5 and ECN Zero MT5.

Standard accounts work with MetaTrader 4. Cent accounts also have instant execution, narrow floating spreads, the ability without SWAP and work with MT4. Shares accounts also use MT4 and have the option of SWAP-free and instant execution. Hedging is allowed and no commissions. Leverage is fixed at 1:10, and this account gives access to more than 180 US stocks. Those who prefer to trade on the go will also appreciate application support for tablets and mobile devices.

In MetaTrader 5 terms, customers gain access to level II data and all execution modes. They also receive a wide range of types of orders and trading signals using MQL5. You can use MT5 for FXTM on PC, MAC, mobile devices and tablets. There are versions for desktop computers, iPhone / iPad, Android, Mac and WebTrader. You can read more about any of these specific MT5 versions or download them through the ForexTime website.

Customers can use MetaTrader 4. Its convenient features are advanced and they will have access to all major trading tools. They will also receive automated trading through experts and support for several currencies and languages. Like MT5, MT4 is available for almost every device you can think of. You can learn more or download versions for PC, iOS, Android, Mac, WebTrader or Multi Terminal through the ForexTime website. One very useful part of the ForexTime website is the comparison between MetaTrader 4 and MetaTrader 5. This way, customers can choose which platform from MetaQuotes will work best with their FXTM trading experience.

Trading education

ForexTime has a wealth of educational resources, including a section on Forex trading training. This section explains the basic concepts in the forex industry. Videos educate traders on the key concepts of trading and technical analysis. FXTM also offers regular seminars for its clients. This happens all over the world, each of which tells you the language, location, and topic of the seminar. At least a few seminars or workshops are held every week, so there should be one that will appeal to most clients.

Customer service

Customer service provides a multilingual service, as well as Personal managers. This allows FXTM to appeal to speakers of different languages. ForexTime also provides technical and trading support, exclusive privileges for VIP customers and makes it easy to open accounts. ForexTime offers online help at any time from the area of ​​your account, just click the chat icon and you can choose the real-time chat option, including options for Telegram, Facebook Messenger, Whatsapp or ask them to call you.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.