FXTM

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Summary

FXTM operates over 3 different companies supervised by different organizations

  • ForexTime Limited is supervised by 3 organizations. The Cyprus Securities and Exchange Commission (CySEC), the Financial Sector Conduct Authority (FSCA) and the Financial Conduct Authority (FCA). License numbers 185/12, 46614 and 600475, respectively.
  • ForexTime UK Limited is regulated by the Financial Conduct Authority (FCA) and serves under license number 777911.
  • Exinity Limited is supervised by the Financial Services Commission of the Republic of Mauritius (FSC). License number: C113012295.

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Trading Accounts

FXTM has divided its accounts into two separate categories. There are 3 account types in each category. Accounts and options may vary depending on the country where the customer is located.

  1. Standard Accounts
  • Standard
  • Cent
  • Shares

2. ECN Accounts

  • ECN zero
  • ECN
  • FXTM Pro

3. Demo Account

Account types & features


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Registering an Account

You can easily register online at FXTM. It should take few minutes. FXTM does not accept customers from USA, Belize, Japan, British Columbia. The minimum amount you need to deposit varies between accounts.

To open an account;

First, enter your name, mobile phone and email address, and verify the code you received by email.

 

Then enter your date of birth and address.

 

Then select your account type, account currency, enter the desired leverage and password.

Your identity and address must be verified to validate your account. To verify your identity you can use a photo of your ID, driving license or passport. And for address verification you can use an invoice such as telephone, electricity, natural gas and water. The invoice must state your name and the address should be the same address which you used while registering. Alternatively, government issued address documents are also accepted.

Your documents will be approved within 1-2 business days after you submit them.

Register an Account


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Deposit and Withdrawal

No deposit commission is charged by the firm except for the commission charged by your own bank. For electronic withdrawals, you must pay around 1%. For FXTM account funding, you can transfer directly from your bank account or use your credit card. Popular electronic payment methods are also available for account funding. You can review payment methods in the properties section down below.


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Trading Platforms

FXTM supports Metatrader 4 & 5 software and mobile versions. You can also trade directly with webtrader, like most brokers worldwide.


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Products, Spread and Commissions

FXTM offers moderate spreads for its customers. The product range looks slightly less than its competitors. You can see the available products and spreads for the ECN account (in points) in the visual below. Like other reviews, we recorded the spreads at the last hours of the London session to get objective review results.

Tradeable Products and spreads


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Bonuses

There were 2 promotions on the website during the review.

  • 30% Welcome Bonus (*terms apply)
  • The FXTM Loyalty Cashback

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Customer Support

FXTM customer service has representatives in China, India, Indonesia, Malaysia, Nigeria, South Korea and Thailand. Customer service provides support via email and telephone. International customers can use the callback feature in their own language. In addition, support can be provided through messaging services such as Whatsapp, Viber, Telegram.


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Conclusion

FXTM is regulated by a number of trusted authorities, primarily the FCA. It also provides signal service and copy trade services that are not available in most brokers. The disadvantages are that the products offered for trading are less than their competitors, they charge commission for the withdrawal and there is an operating fee for the passive accounts. You always have the chance to experience the conditions by opening a demo account with the firm.

Open a Demo Account

Tags:

Specification: FXTM

Location
Regulators

FCA, CySec, FSC, FSCA

Trading Platforms

MT4, MT5, MT Webtrader, MT Mobile

Tradeable Products

Forex, CFDs

ECN Order Processing

Yes

Number of Products

67

Leverage

1:10 – 1:1000

Islamic Swap-Free Account

Yes

Minimum Deposit

$10

Money Transfer Options
Multilingual Customer Support

Yes

Micro Lot Trading (0.01)

Yes

Spread Index

3.16

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Expert Score 8
Regulation Reliability
9
Expenses
7
Spreads
7
Diversity of Products
7
Promotions
8
Money Transfer Options
8
PROS:
  • FXTM Invest copy trade service
  • ECN order execution
  • Reliable regulators
  • Deposit and withdrawals with Bitcoin
CONS:
  • Limited product range
  • Passive account commissions
  • Withdrawal commissions
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