up to 100%
up to 100%
no Deposit Bonus
- Regulated By:: CySEC
- Headquarters:: N/A
- Foundation Year:: 2011
- Min Deposit:: $5
FXTM, also known as ForexTime, were created in 2011 in the de facto headquarters in Limassol, Cyprus. FXTM has gained tremendous popularity, which can be driven by the powerful desire to serve the local markets with powerful FX demand.
The agent has worked really hard on its platforms to include the ideal trading applications as its platform in the home of MetaQuotes Software Corporation- MT4 and MT5- Yes, you guessed it right!
FXTM Review 2020: Pros and Cons
- It offers multiple execution techniques by the account types.
- FXTM is a controlled broker.
- It proudly provides Cryptocurrency CFDs.
- The agent allows the dealer to go for auto-trading.
- Offers ECN accounts.
- You are able to trade with virtual or real cash.
- The leverage margin and caps are restricted, if you want to use ECN accounts.
- On ECN accounts, the dealers can only add limit and stop amounts after the execution.
- It has a maximum order size 30 normal per tons during a trade, which can be quite low.
- Just a certain range of markets can be segmented across the various account types.
FXTM provides MetaTrader with seven account types that tend to provide the dealers with access to 59 currency pairs combined with 11 indices, 6 alloys, 3 energies, and 3 cryptocurrencies. They also supply social trading via its FXTM investment offering.
The agent is available on both Android and iOS apparatus through application. You can also monitor present price and fiddle with your place, from anywhere, at any point in time. The services provided by FXTM are registered and controlled in countries such as the UK, Cyprus, South Africa, and much more. But, they don’t function the dealers who are a resident of Canada, USA, and Japan.
The brand has gained regulatory licenses from various jurisdictions. It’s regulated by CySEC in Europe and is enrolled under the brand name ForexTime Limited. It is also regulated under the following regulations:
- Financial Services Board (FSB), South Africa.
- IFSC, Belize.
- Financial Conduct Authority (FCA), UK.
FXTM can also be approved by zero tier-1 regulators, which make them exceptionally trustable, one tier-2 regulator, and one tier-3 regulator.
FXTM is a complete MetaTrader only agent. It provides the trader with a fantastic trading encounter. In addition, this means that it supplies the best platforms developed by MetaQuotes Software Corporation. So, as a trader you may place your hands on platforms such as MT4 and MT5 on your desktop, mobile, and web.
MT4 and MT5
MT4 and Mt5 come with an aim to provide the traders with all the authenticity they have been searching for. Both are somewhat different in its performance when we compare one agent to another. Additionally, the major differences are the spreads, commissions, order executions, and research or trading instruments supplied by the agent.
Below mentioned is the summary of the gap between the platforms provided by FXTM:
- The news flashes on FXstreet.
- It Provides MT4 and MT5 internet.
- MT4 and MT5 installation is available on Windows, Mac OS, and much more.
- Social or Mobile Trading
You can easily access the agent working with a mobile application. In addition, it offers iOS and Android versions of the MT4 and MT5 applications. They can be downloaded from Apple iTunes and Playstore, accordingly.
There are two chief types of accounts on FXTM- ECN and standard accounts. Here is the account structure on FXTM based on the regulations.
Underneath the standard account, you will locate cent and shared accounts types.
The standard accounts includes tight spreads, having leverage of up to 1:30 along with a swap-free variant of the account.
Commissions are free when talking about CFDs. Additionally, it has a swap-free variant that lets you trade up to 180+ shares.
Last, the standard accounts are exchanged only on MT4.
FXTM offers both a pro account and the ECN account. Both may be traded on MT4 and MT5. Listed below are a few features worth taking a look in:
The ECN Zero accounts are completely free of commission, it includes non or floating spreads and provides trading management beneath the FXTM investment program.
Additionally, it provides you $4 commission per transaction. The spreads tend to begin from 0.1 pips and it is also possible to use your own strategies.
The PRO accounts for its professional traders. The spread starts from 0 pips. However, there are no commissions involved alongside different prices.
ForexTime also supplies a huge educational and research tools in the form of daily technical news. This news is the analysis depending on the in-house group of professionals who are inclined to upgrade blogs and daily videos to highlight the industry report.
The broker also provides the signals on a lot of instruments, including 8 currency pairs with various take-profit levels. It is also provided by the professionals based on the present market situations.
Education is the one of the regions in which FXTM really cares about. Users may select from a comprehensive range of materials, Webinar, and format. The sources also include tutorials, articles, and other glossary of terms.
Accounts and Fees
ForexTime tends to provide various account types, in which the execution process, range of markets, and platform may vary according to the market. There are 3 accounts that are offered under the typical category, meaning that the order execution method is quite quick.
Talking about the trading expenses, we could declare that FXTM is the most aggressive broker as it provides commission-based on ECN accounts; below the platform you’re able to get is MT5. Finally, the FXTM pro account for traders who deposit at least $25,000.
The agent does have quite a few additional price charges that, if implemented, it can be a rather expensive choice. As an example, there’s also a fee charged if you’re inactive and have a negative balance.
An established trading platform and agent, FXTM offers many advantages compared to opponents. It is governed by several authorities. This not only provides the dealers with a feeling of security. Regulations ensure it is transparent and accountable in the simplest way possible.
There’s various trading platforms and balances. No matter on what sort of trader you’re, there is an account which is appropriate as per your trading requirements.