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It seems like every day some newly formed forex brokerage company comes out of the shadows. But sometimes the entity behind the new broker on the block cut their teeth as a great success in the entrepreneurial world elsewhere and have decided to dip their toe into a newly-created sector of the trading world using a proven formula. And so it goes with FXTM, also known as ForexTime.com.
Andrey Dashin, the founder of Alpari forex brokerage institutions, created FXTM in the year 2012. Ever since the late 1990s, Mr. Dashin has concentrated on the development of trading markets in the U.S. and Europe. He formed his latest project in an attempt to do the same everywhere else.
And within just a few years, FXTM has grown into an industry leader and gotten several awards in the process, proving that the Dashin formula works.
As one of the quickest growing brokerage companies in the world, FXTM has quite a few offices opened around the globe to support its rapid rise, including an office located in world trading capital and European financial heart London, England. In addition, the headquarters tower is located in Cyprus.
When you trade with ForexTime, you get the help of a management team dedicated to providing a quality service and who’ve used their 30 years worth of combined experienced for over half a million clients. And their clients trust them thanks to their status as an officially licensed entity by South Africa’s FSB. They’re also regulated in several jurisdictions by CySEC and IFSC.
All-Encompassing ForexTime Platform Gives You Innovation & Greater Transparency
If you look through recent press releases related to this company, you’ll see the continuous progress of achievement and innovation it’s undergone. And it’s all based on transparency, integrity, and a driven purpose of giving their clients a great trading experience that proves superior to their competition.
Even independent reviews give FXTM high ratings which can be hard to come by in this industry, so the head honchos over there must be doing something right. The security and safety of client resources remain a top priority.
With FXTM Invest’s easy-to-use system, traders and investors enjoy greater transparency with greater access to stats published on the website. These stats include important data such as slippage, requote levels, and the speed of the platform’s order execution.
Extra feeds provide charting tools, commentary, educational material, and additional information–all of which make for an ideal trading experience along with their impeccable customer service department.
It doesn’t matter if you’re an experienced professional or new to trading. FXTM can help you thanks to its all-inclusive offerings. You’ll find what you need on their website which provides easy navigation and accessibility in over 17 languages. And like other brokers, they love providing incentives to their traders with promotions, contests, and social trading opportunities.
The platform provides straight-through-processing (STP) but you can choose the ECN set-up instead if you want. MT4 and MT5 platform support is provided and you can easily trade through your mobile device when you’re on the go with the site’s ForexTime app which is compatible with Android and iOS.
If you’re a professional trader, then you can also take advantage of FXTM’s Pro trading account which they’ve designed for institutions and high-end individual traders. With that account, you get certain trading condition perks like spreads from 0 pips, lightning quick trade execution, and interbank liquidity depth.
On the site, you can trade Commodity Futures CFDs, ETF CFDs, Shares CFDs, spot metals, and more. With their Shares account designed especially for the Shares CFDs, traders get a reinforced direct connection to NASDAQ and the New York Stock Exchange for the listed pricing of their products.
You’d be hard pressed to find a lacking area with the FXTM site or system. They’d made vast improvements in recent times and as long as you trade in one of the markets offered on their platform, they’re worth the time to look into and use. But if you’re still not convinced, then let’s dive deeper into the specifics.
ForexTime Trading Features Summary
- Very fast trade order execution;
- Tight trading spreads ensured by bank liquidity depth;
- Scalping, hedging, and strategies for EAs allowed;
- Support for mobile trading applications (ForexTime app for Android and iOS mobile instruments);
- Over 250 trading assets like CFDs, forex currency pairs, commodities, futures, precious metals, and ETFs;
- Over 30 payment options available without the requirement of a deposit fee (including credit card and wire transfer);
- Minimum trade amount as low as 5 units of currency;
- No Dealing Desk business model operation;
- Swap-free option available on all the account types;
- Eight classifications provided on full STP/ECN trading models for Pro accounts’
- Shares accounts directly connected to product price list on the New York Stock Exchange (NYSE) and NASDAQ;
- Over 18 supported languages;
- Multilingual customer support accessibility 24/7 by live chat, email, or phone to one of their satellite offices;
- Social trading attributes, charting tools, mobile and email alerts, and an option to subscribe to receive trading signals all included in the standard package;
- Regular promos and demo/live account contests to incentivize and reward investors and traders
- Learning center with access to streaming commentary, educational videos, news feeds, free training courses, webinars, and local seminars;
- PAMM and FXTM Invest investment programs on offer; and
- Customer funds protected via segregation into Tier-One banks all the time and in compliance with regulation standards.
FXTM Platform Points
The proven and popular MetaTrader platforms form the backbone of ForexTime’s trading website. Both MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are included for Windows PC, Apple Mac, Android, iPhone, iPad, and Web Trader.
For FXTM traders, the MT4 platform also allows you as a trader the utilization of the latest trading tools, the execution of orders for all major financial assets, and the automation of trading with industry expert advisors. Main features for MT5 platform traders at ForexTime include a wide trading order selection, Level II data, and MLQ5 trading signals.
Thanks to the evolution of the online forex trading world since its inception, FXTM can now also allow the execution of copy trading on the MetaTrader platforms they provide. You can use this service for accessing a wide variety of trading signals to which you can choose to subscribe.
After completing subscription, the system automatically copies every trade executed by the signal provider for you. This way, even if you’re a beginner, you can start trading like a professional right away.
Types of ForexTime Accounts
FXTM, with a No Dealing Desk operation, gives you as a trader access to eight different kinds of trading accounts built onto their STP and ECN trading systems. The kinds of trading accounts available include standard, pro, cent, shares, ECN, ECN MT5, ECN Zero, ECN Strategy accounts.
You can open these accounts with as little as 5 Euros/Dollars/etc. paid through one of the over 30 methods of payment provided by the site.
Low Spread and Commission
Traders find low spreads very attractive with STP and ECN brokerage companies. And luckily for you, FXTM provides those. The site has priced their spreads up to five decimal point places and start them from only 0.1 pips for standard accounts and 0.0 pips for ECN accounts.
Additionally, ECN account holders get charged a commission of four units of currency for each lot each way. Keep in mind that the leverage you receive depends on your experience and knowledge.
FXTM Deposits & Withdrawals
Several localized options for deposits and withdrawals exist within the ForexTime website particularly for India, Pakistan, Nigeria, Vietnam, Thailand, Iran, Afghanistan, Laos, China, and more. They’re striving to add more options in the future.
As far as non-localized solutions are concerned, Visa and Mastercard are taken, in addition to a couple other credit cards (Maestro and China Union Pay). Also, you can take advantage of over a dozen e-wallet options like Neteller, Skrill, Payza, CashU, Baida, and more.
Localized, e-wallet, and credit card deposits go through quickly (from instantly to within 24 hours) as long as no other verification is needed. And it’s commission-free. Bank wire deposits, however, can take from three to 5 business days (but they’re also commission-free).
On withdrawals, the processing time takes only 24 hours. The commission fees vary, depending on the withdrawal method. Some take a percentage ranging from 0 to 3.9 (plus extra fee), while the bank transfers and some credit cards take out specific currency unit amounts (in Euros, U.S. dollars, British pounds, or Chinese Yuan).
Finally, on some accounts, FXTM will reimburse 100% of the charges for deposits up to $1,000 and 50% of deposits that exceed that amount.
FXTM Customer Service & Support
ForexTime’s customer support runs 24 hours a day, seven days a week in multiple languages. You can get access to customer service in several ways: email, live chat, or via telephone. Telephone support also offers traders in the following countries access to more localized service from one of their global offices:
- the Czech Republic
- South Korea
- United Kingdom.
Customer support also provides additional tools to traders like a margin calculator, a currency converter, an economic calendar, and a forex news timeline and market analysis from industry experts.
ForexTime’s Education Library
Regardless of your trading status, you can appreciate FXTM’s educational material. There’s something for everyone here. They add webinars to the schedule every week to the already abundant amount of material available on the website from which you can learn.
Daily commentary from their research team in conjunction with trading signals, alerts, and streaming news only enhances your ability to better assess conditions on the market. And dedicated account managers are on standby to assist you with more market insights through email or telephone anytime, every day, in over 25 languages.
ForexTime entered the forex broker market with a flourish that few others have managed. That’s in large part thanks to the people behind it who have experience and know what they’re doing. The management team knows what’s necessary to please and meet the demands of high-end clientele around the world due to their previous endeavors.
You’ll find plenty of positive reviews and testimonials, along with prestigious awards. According to the website, they promise to always abide strictly by the regulations necessary and provide a safe and reliable trading experience while emphasizing the safety, security, and protection of funded accounts above all.
With so many positives in their favor, we’d recommend you check FXTM out and consider it worthy of both your time and money.
- Localization and extension of customer service and support
- Hedging and scalping permission
- Regulatory oversight from multiple jurisdictions
- Copy trading support
- And promotional offers on a regular basis, including getting $4 back for every lot traded by ForexFraud website visitors
- Can’t trade exotic pairs using swap-free accounts
- Inability of U. S.-based traders to use the ForexTime platform
7 Binary Options review: FXTM: 4,5 stars