FXTM Review
Overview
- Headquarters: Limassol, Cyprus
- Regulated By: FSA, FSCA
- Foundation Year: 2012
- Min. Deposit: $10
- Max. Leverage: 1:1000
- Deposit Options: Visa, Mastercard, Google Pay, VLOAD, TC Pay Wallet,FasaPay, Konnexone Perfect money, Yandex Money, QIWI, Web Money, Neteller, Alfa-Click, Skrill / Moneybookers
Review
ForexTime Limited (FXTM), established in 2011, is one of the most popular online trading sites. It has offices and regulations in Europe, Middle East, Africa, Asia and Latin America.
The company provides access to 250+ instruments, offers a variety of optimized account types and platforms, forex contests and bonuses. The FXTM brand is also authorised and regulated in various jurisdictions.
Clients need to be prepared for high-stock CFD fees as well as inactivity and withdrawal fees.
Licensed and Regulated
FXTM is regulated by the Cyprus Securities and Exchange Commission, licensed by the Financial Services Board (FSB) of South Africa, and FXTM UK Limited is registered with the Financial Conduct Authority of the UK.
Account Types
FXTM offers traders three Standard and three ECN account types with the latter having associated commission costs. A swap-free Islamic account option is available for all Standard accounts. A demo account can be opened for the Standard and Cent accounts but not for the Stocks CFD account.
Deposit & Withdrawals options
Several methods of deposits and withdrawals are offered with 10 currencies accepted for transactions.
The following are the accepted payment options:
- Visa, Mastercard
- Google Pay
- VLOAD
- TC Pay Wallet
- FasaPay,
- Konnexone
- Perfect money
- Yandex Money
- QIWI,
- Web Money
- Neteller
- Alfa-Click
- Skrill / Moneybookers
Privacy & Security
FXTM offers full segregation of funds for clients; all funds are held in segregated accounts from the assets of the firm.
Customer Service
It offers customer support in Arabic, Czech, Chinese, English, Farsi, French, German, Hindi, Indonesian, Italian, Korean, Malaysian, Polish, Russian, Spanish, Urdu and Vietnamese.
Pros
- Extensive list of trading instruments
- No deposit fee
- Great educational tools
- Digital and fast account opening
Cons
- No U.S-based trading
- Does not support Myfxbook or ZuluTrader options for social trading
- No futures or options trading