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ForexTime Forex Broker Review
Last Updated: October, 2019.
New forex brokersfrequently appear on the scene, but occasionally, the newcomer is an innovation from a highly successful entrepreneur, expanding into a new sector of the market with a proven formula for success. Such was the case with FXTM (ForexTime.com), the international broker brand by Andrey Dashin, creator of the well-received Alpari line of forex brokerage companies. In 1998 and in subsequent years, Dashin focused on developing both the European and U.S. retail forex trading markets, but his last venture was designed to capture nearly everything else. Clearly, his formula keeps working, since, in the span of a few short years, FXTM has received a plethora of awards and grown to be an industry leader.
FXTM is one of the fastest growing brokers in the industry. In order to support this rapid rise in global clients, the FXTM brand opened a number of offices around the globe, with main operations run from a five-story FXTM Tower in Cyprus. This year, a new office opened its doors under the FXTM brand in the financial heart of Europe and trading capital of the world – London, UK – which feels like a very natural move for a broker that has been growing so successfully. A cursory review of corporate press releases reveals a story of continual achievements, all based on integrity, innovation, transparency and a drive to provide clients with a superior trading experience. Independent reviewers on the web also give high marks, so the experienced management team must be doing a lot of things right. Safety and security remain a top priority for FXTM.
The broker’s product and service offering is all-encompassing. Whether you’re just starting out or you’re an experienced trader, you will find everything you need on the broker’s comprehensive and easy-to-navigate website, now localized and accessible in 18 languages and counting. Straight-Through Processing (STP) is available, but if you desire the popular ECN set up, they have that covered too. Formats are supported by industry-standard MT4 and MT5 platform protocols, mobile trading is not a problem, and one of the broker’s most beneficial new tools is the ForexTime App – an application compatible with iOS and Android, designed for the on-the-go trader in mind.
Additionally, there’s the FXTM Pro trading account, tailored for high-end trading professionals and institutions. It features ultimate trading conditions like ultra-fast market execution, spreads from 0.1 pips, and deep interbank liquidity.
Since we last reviewed FXTM, the broker also introduced three times as many CFDs on Spot Metals Commodity Futures, and more. Their Shares trading account – specifically geared for Shares CFDs – is reinforced by a direct connection to the NYSE and NASDAQ for their listed products’ pricing.
As a modern approach to investing and copy-trading, FXTM Invest is an easy-to-use program that brings traders and investors closer to the markets. The company holds true to its core value of transparency by publishing important trading stats on their website: speed of order execution, slippage and requotes levels. Additional information feeds, educational materials, charting tools, and free-flowing commentary make your trading experience ideal and its customer support department is top of the line. Also, if you like contests and promotions or social trading, FXTM does not disappoint.
In truth, it is still difficult to find any area of FXTM that’s lacking. They have shown tremendous progress over past couple of years and, if you reside in one of their covered markets, they are well worth your patronage.
** ForexTime Limited Does NOT accept Traders from US.
Unique Features of Trading with ForexTime
Why trade with ForexTime.com? The firm lists these reasons:
- A management team with a combined 30 years of experience, committed to quality service;
- ForexTime has currently reached over 1, 000,000 clients;
- Brand FXTM is regulated in multiple jurisdictions (ForexTime Ltd by CySEC 185/12 and FSCA 46614, FT Global by IFSC under numbers IFSC/60/345/TS, IFSC/60/345/APM, Forextime UK Limited by FCA 777911);
- Mobile trading applications are supported (including ForexTime App for iOS and Android devices);
- 250+ trading instruments including forex currency pairs, CFDs, Futures, Precious Metals and Commodities;
- 31+ payment options currently available with no deposit fees and minimum deposits as low as $10;
- Deep bank liquidity ensures tight trading spreads and superfast execution;
- Hedging, EAs, and scalping strategies permitted;
- No Dealing Desk standard adopted, with eight classifications built on full ECN/STP trading models for professional accounts. Swap-free option available for all account types;
- A direct connection to the products’ price listing on the NYSE and NASDAQ exchanges for the Shares Account;
- Customer service representatives are multi-lingual and may be accessed “24X7” by email, live chat, social media or direct telephone line to one of several satellite offices;
- 18+ languages are supported, and more are added to the site and MyFXTM, the trader’s gateway.
- Promotions and live and demo contests on a regular basis (applicable to clients of FT Global Limited – T&Cs apply);·
- Learning center support includes streaming news feeds, commentary, webinars, educational videos, free training courses and local seminars;
- Investment program offered: copy-trading solution, FXTM Invest;
- Social trading features, trading signal subscription option, charting tools, email and mobile alerts, and streaming news feeds are included in the basic package;
- Client funds segregated in Tier-One banks at all times for protection, in strict compliance with regulatory standards;
- ForexTime Limited Does NOT accept Traders from Third Countries (including US).
- FXTM offer a CFD for cryptocurrency trading with leverage 1:10.(*Trading CFDs on cryptocurrencies is only available under FT Global Limited)
Spreads and Leverage
Tight spreads are the norm whether on STP or ECN setups. With the FXTM Pro Account, spreads start at the tightest possible 0.1 pips. Flexible Leverage, based on country of residence, knowledge and experience. FXTM offers negative balance protection.
The software backbone for FXTM relies on the highly popular MetaTrader series of trading platforms, in both MT4 and MT5 varieties. Trading account classifications relate back to both types, with three categories offered in STP versions and five under the ECN service. All six come with a swap-free option, and a free demo account is offered with no expiration period. The ForexTime App puts minute-by-minute market updates and analysis in the palms of the on-the-go trader, while the very latest in SSL technology encrypts all sensitive data, keeping any hackers at bay.
Deposits and Withdrawals
Beginners and veterans alike will appreciate FXTM’s dedication to trader education. Webinars are being added weekly to supplement an abundance of learning materials already available on the site. Your ability to assess market conditions will be enhanced by daily commentary from their Market Research Team, streaming news, signals, and alerts, and dedicated account managers can provide additional insights when accessed via email or direct phone line any time of day in over 25 languages.
Few firms have entered the forex brokerage market with such a flourish as FXTM did. This management team understands what it takes to please a highly demanding global clientele. Prestigious awards and favorable testimonials are just the icing on the cake. As their website states, “We always strictly abide by the regulations, highly emphasizing our clients’ fund safety and security and the protection of our clients and their investment is our primary concern. We are committed to create a safe and reliable trading environment for all our clients.”
With so many things going for it, FXTM is very worthy of your time and consideration.
ForexTime Limited, ForexTime UK and FT Global Limited share the same brand name, FXTM. ForexTime Limited (www.forextime.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614. Forextime UK Limited is regulated by FCA with license number 777911. FT Global Limited (www.forextime.com) is regulated by the International Financial Services Commission of Belize with License numbers IFSC/60/345/TS and IFSC/60/345/APM.
– Leverage is offered based on your country of residence, knowledge and experience.
– Bonuses and promotions are offered based on your country of residence while terms and conditions apply.