FXTM Review – Online Platforms, Account Types, Features & more

FXTM or Forex Time, a firm founded in 2011 with headquarters in Cyprus (Limassol) and registered by the Financial Conduct Authority and other authorities, has been recognized as one of the world’s top and fastest-growing Forex brokers. As the company’s concentration on the Africa and Asia areas contributed to its quick expansion in Europe and beyond within a short period of time.

The broker bases its business model on dependable trading conditions and in-depth education and makes global trading accessible regardless of the trader’s level of expertise. However, the FXTM office network was also developed in Europe, with its headquarters in the United Kingdom and a presence in South Africa.

What is FXTM Analysis?

FXTM is one of the largest Forex Time Companies, and its authorized efficiency sets it apart from the competition. The service will assist you in acquiring the greatest properties if you’re seeking the highest rate of financial growth.

All the speedy expansion and effective presence will assist you in obtaining the highest quality. It includes all technologically innovative firms. If you wish to guarantee significant growth in trading, FXTM India will provide you with the optimal experience.

FXRM’s functioning capacity and other technological aspects contribute to its success in the entire trading environment and beyond. If you like to get knowledge of all relevant aspects, you may utilize this outstanding service.

Benefits of FXTM

  • Diverse types of trading accounts,
  • One will receive a greater quantity of resources, it will include all automated training methods, and the investment required will be little.
  • This platform is a good choice if you want to learn about all computational complexities.

Disadvantages

Withdrawal of cash is occasionally delayed, copy trading is not available, customer service might be improved, the brokerage system is unavailable on weekends, and there is no PAMM Account to investigate!

Review of ForexTime fees and other commissions

Deposits

Depending on the account, the minimum deposits for ordinary accounts range from $200 to $25,000 and can be made in US dollars, British pounds, or euros. The minimum FXTM ECN deposit is $500. There is no maximum deposit amount for any FXTM account.

Credit cards, debit cards, bank wire transfers, e-payments, and e-wallets are accepted deposit options. Additionally, you may deposit utilizing local means. These may need up to two business days. After three to five business days, wire transactions may be credited to your account.

Withdrawals

The same payment options are available for withdrawals as for deposits: bank wire transfers, credit and debit cards, e-payments, and e-wallets. They are handled during business hours and may be completed immediately or within three to five days.

Others

The ECN account has a $2 per-lot fixed commission. Regarding basic accounts, no commissions are levied.

After six months of account inactivity, FXTM India imposes a fee. Customers will incur a fee of 5 EUR/ USD/ GBP.

Why Choose FXTM over Competitors?

FXTM provides outstanding instructional materials for beginning traders, including live online webinars, local seminars, videos, and tutorials. A demo account, one of the finest learning tools available to forex traders, is also accessible for free. If you are a beginner trader, you can’t go wrong with FXTM’s broad instructional materials.

FXTM’s support of the popular MetaTrader 4 and 5 (MT4&5) platforms provides many traders with an intuitive trading interface that they can instantly begin utilizing (its software also comes in a mobile app). FXTM’s PAMM and managed accounts provide a further advantage over many of its rivals. These accounts provide a feasible option for those who wish to profit from the foreign exchange market but do not wish to trade the market directly.

Experienced and high-volume traders will value narrow dealing spreads and access to an electronic communications network (ECN) account that provides direct market access. In addition to the narrow market dealing margins, a tiny commission is levied for the ECN account.

FXTM can accommodate your demands and provide outstanding forex brokerage services regardless of your level of competence as a forex trader, whether you’re just beginning or have been trading for years.

Which Payment Options Does FXTM Provide?

FXTM, like the majority of other reputable forex brokers, offers a variety of payment alternatives to traders. The FXTM withdrawal costs depend on the withdrawal method chosen. These also vary by account type, but are the same for the majority of accounts. Among the most popular payment methods include credit/debit cards, e-Wallets, bank wires, and other regionally-specific options.

What Trading Accounts Does FXTM Offer?

FXTM offers an extremely varied account structure. Standard and ECN are the two types of FXTM trading accounts. Each of these grades has three unique account kinds. These are the regular account, the cent account, and the shares account for the first level, and the ECN zero account, the ECN account, and the FXTM pro account, respectively. For beginner traders who wish to hone their abilities, FXTM now offers a Demo account. The sample account’s default balance is $1,000,000 USD. The following are the specifics for each account type:

Standard Account

This is the most fundamental account type offered by FXTM. It provides tight floating spreads beginning at 1:1000*. All deals are instantaneously performed, and hedging is permissible. This account supports the usage of major hard currencies, including EUR, GBP, USD, and NGN. No hidden commissions exist, and SWAP-free choices are available.

Dollar Account

This type of account features narrow floating spreads and a leverage of 1: 1000*. Account holders can utilize EUR cents, GBP pence, USD cents, and NGN kobo, and all deals are accomplished quickly. This account has a minimum deposit of just EUR/USD/GBP and features cent lots and SWAP-free choices.

Equity Account

This is the top Standard account, offering over 180 US shares with fixed leverage of 1:10. All deals are instantaneously performed, and hedging is permissible. This account supports more hard currencies, including EUR, GBP, USD, and NGN. This does not incur commission fees, and SWAP-free solutions are available.

ECN Zero Account

This is the initial form of ECN account offered by FXTM, and it is commission-free. It provides narrow floating spreads and leverage up to 1:1000*. All trades are conducted on the market and requoting is prohibited, however hedging and scalping are permitted. This account is offered in EUR, GBP, USD, and NGN, and SWAP-free alternatives are also available.

ECN Account

This ECN-grade account provides spreads as low as 0.1 and leverage up to 1:1000*. Traders are able to execute via the market, but cannot re-quote. However, they are capable of hedging and scalping. This account supports EUR, GBP, USD, and NGN and has a low minimum commission of $4. There are also SWAP-free solutions available.

FXTM Pro Account

This is the top ECN account with narrow spreads beginning at 0 pips. This account has no commissions. This account also offers the quickest transaction executions possible and prohibits re-quotes. The variable leverage can go up to 1:200. Tier-1 liquidity providers offer extensive liquidity. There are no last look price choices, but there are SWAP-free alternatives.

Is FXTM safe or fraudulent?

No, FXTM is not a scam; it is a well-regulated broker business comprised of ForexTime Ltd, ForexTime UK Ltd, and Exinity Limited, which provide trading services to more than 10,000 clients from over 135 countries. Importantly, FXTM complies with the relevant regulatory rules in every location in which it operates, which earns it a high trust score from us.

This is undoubtedly the most important concern, given that investor accounts lose money and the great danger of losing cash while trading with an unregulated firm.

Conclusion

Based on our 2019 evaluation of FX trading, we’ve determined that this broker is exceptionally beneficial for both expert and newbie traders. It has the potential to be incredibly lucrative due to the massive resources available to beginners. After completing your FXTM login, you will be able to select the account type you desire. To choose which account is optimal for you, we suggest that you consult with customer service or read some of the numerous good reviews.

FXTM might also be an excellent choice for people who wish to trade bitcoins. It provides the largest cryptocurrencies on the market and has a rapidly expanding FinTech trading basis. Moreover, because to the increasing need for FinTech trading on the market, it is likely to grow. Those who begin trading it early have a distinct advantage in terms of trade money and market fluctuation knowledge (Trading CFDs on cryptocurrencies is only available under FT Global Limited).

In conclusion, we believe FXTM to be a highly reliable forex trading platform and suggest it to traders of all types and levels.

FAQs

1.Ques: How do I collect my bonus from FXTM?

Ans: Yes, you are eligible for the FXTM Bonus; however, you must first create an account with the International Entity. You can claim your rewards or bonus in accordance with the most current FXTM offer.

Yes, you may easily claim your FXTM welcome bonus and receive $30 in your wallet as a welcome prize.

2.Ques: Is FXTM a reputable company?

Ans: Certainly, FXTM is a legal business. Multiple global organization leaders and others regulate this company’s power!

3.Ques: Will We Receive World-Class Quality Here?

Ans: Yes, you will obtain all World-Class qualities from Here. So, you may rely on FXTM’s service.