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Knowing about the Broker platform before investing to trade is more important. When you know nothing about ForexTime (FXTM) Broker platform, as a matter of fact, this updated FXTM Broker Review 2023 from tradingcritique.com can help you a lot. This is a Detailed product guide that will clear all your doubts about the FXTM Broker platform. Read further to know completely about FXTM.
FXTM (Forextime) is a Forex (Foreign Exchange) and a CFD (Contract For Differences) trading broker, established in 2011. Several jurisdictions approve and regulate the company. Moreover, they are handling 3 million clients across 180 countries. The minimum deposit amount varies according to the account type. Another key point to note is that, they provide MetaTrader 4 (MT4) and MetaTrader 5 (MT5) Platforms on Mobile, Desktop (downloadable), and Web versions.
Image 1: Home page of FXTM website.
Image rights reserved to FXTM
The Cyprus Securities and Exchange Commission (CySec) regulates ForexTime Ltd. (www.forextime.com/eu) with CIF license number 185/12. Another license is from the Financial Sector Conduct Authority (FSCA) of South Africa with FSP Number is 46614.
The registered Number under the Financial Conduct Authority (FCA) of the United Kingdom is 600475. In addition, the FCA regulates ForexTime Ltd. (www.forextime.com/uk) with the license number 777911. Financial Services Commission (FSC) of the Republic of Mauritius regulates Exinity Ltd. as an Investment Dealer with the license number C113012295.
FXTM site uses encrypted software for user security. In like fashion they also protect the client’s funds via segregated accounts in top-level banks. The company has continuously collected many awards from 2013 to 2023. In 2021, Exinity got the “Best Trading Experience 2021” award from WORLD FINANCE.
Image rights reserved to FXTM
FXTM undoubtedly provides the world’s best trading platform. They provide two types of trading platforms namely, MetaTrader 4 (MT4) and MetaTrader 5 (MT5). We will review them in the upcoming sections one by one.
MT4 and MT5 platforms are the most important trading platforms available across various Brokers worldwide. Its best and speedy execution of trades convinces the traders’ needs. Both the platforms are suitable and available for various operating systems such as Windows OS, Mac OS, Web trader, Android (mobile and tablet), and iOS (iPhone and iPad).
Secondly, MT5 is the newest and most advanced online platform offered by MetaQuotes. Trading on MT5 via ForexTime gives access to financial markets like commodities, gold, platinum, currencies, and other CFDs. When compared to MT4, MT5 has additional automatic trading tools and instruments.
MT5 is free to download. MT5 has more reserve transaction types compared to MT4. It has overall 44 analytical objects and an ultimate count of graphical drawings. The integrated economic calendar and Email system are also available here. In MT5 you can use testing for a multi-threaded strategy.
FXTM mobile trading app is available for both Android and iOS. Without doubt you can download it from Google Play and the App Store. As much as the web and desktop versions of FXTM, mobile app also has 250+ trading instruments. Moreover, the FXTM mobile apps have easy access the MT4 and MT5 trading platforms.
FXTM mobile trading apps is quite simple to operate where you can open, close, and modify your trade positions in seconds. They provide advanced charting tools and popular indicators to give complete information to execute your trades properly.
FXTM uses its own trading platform technology. Therefore, an additional trading platform is not required. Here you can track your opened and closed positions at a glance. The Web trading platform and Mobile trading platform are all integrated. So, when you open your trade in Web/ desktop (Downloadable) version, you will be able to close it on your mobile version.
FXTM provides three different types of accounts that are generally used with the MetaTrader. They are Micro, Advantage, Advantage Plus. Demo Account is available for all these three account types. Correspondingly, FXTM accounts will differ in their grade.
Firstly, the minimum deposit for the Micro account is $50. In the micro account instant order execution takes place. The minimum spread starts from 1.5 pips and has Tight Spreads with no Commission. You can undoubtedly trade in Forex, Forex Indices, Metals, Commodities, and Stock Baskets in the micro account.
Another key point to note in the FXTM Micro account is that it gives access only to the MT4 platform to trade. The leverage and margin provided for Forex are 1:3 to 1:1000 whereas for Metals is 1:500 (these ratios are fixed).
Secondly, the FXTM Advantage account has a minimum deposit of $500 with Market execution of orders. Commissions are priced from $0.4 to $2 with Ultra Tight Spreads from 0.0.
You can trade Forex, FX Indices, Metals, Commodities, Indices, Stocks (MT5 only), Stocks CFDs (MT5 only), and Stock Baskets. When compared to the micro account you have Indices, Stocks, Stock CFDs as an extra addition to trade in the FXTM Advantage account.
FXTM Advantage account gives access to both the MT4 and MT5 trading platforms. The leverage and margin provided are up to 1:2000. The margin call is made at 80% whereas the Stop out (i.e. execution of stop-loss order) is at 50%. The maximum number of orders that can be placed here is unlimited.
Thirdly, the minimum deposit of the FXTM Advantage plus account is $500 with Market execution of orders. Undeniably it has Tight Spreads with no Commission. You can trade FX, FX Indices, Metals, Commodities, Indices, Stocks (MT5 only), Stocks CFDs (MT5 only), and Stock Baskets.
MT4 together with the MT5 trading platforms can be used in the Advantage plus account. In the FXTM Advantage plus account leverage and margin provided is up to 1:2000. The margin call is at 80% whereas the Stop out (i.e. execution of stop-loss order) is at 50%. Unlimited number of orders can be placed whereas the maximum number of pending orders can be 300.
When the FXTM Advantage plus account is compared with the Micro account the difference can be seen explicitly. Whereas the differences between the Advantage Plus account and the Advantage account are comparatively similar with some additional features in the Advantage plus account. Choosing the best suitable account type will indeed depend on your trading requirements.
Image 3 : The screenshot is showcased as an illustration of the Different FXTM Account types and its features.
Image rights reserved to FXTM
At this point, we must particularly discuss the Customer support provided by FXTM. Either a beginner or an expert trader, every user requires a good Customer support from the Broker platform. Therefore, whenever you choose a new Broker platform it is important to check about the Customer services provided.
ForexTime supports the customers via Email, phone, live chat, and also with different online chat options. When compared to other broker platforms Email support and Phone support are good. They are providing multi-language support. They also give trading and technical support to their clients like analyzing client’s trading mistakes. The customer support desk is available 24 hours a day, only on weekdays i.e., 24/5.
Image 4 : Information about FXTM Customer Support.
Image rights reserved to FXTM
Table 1: Different trading types and most important trading instruments available in FXTM.
| Trading type | Features to trade in FXTM | |
|---|---|---|
| Forex (FX) trading |  |
Forex is Globally regulated and licensed under the FSC of the Republic of Mauritius. |
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It is also regulated by the UK’s FCA. | |
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FXTM has ultimate transparency in Forex Trading. | |
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The FXTM’s performance statistics, slippage, and order execution are checked by PwC. | |
|
The trades are secured by Negative balance protection. | |
| Forex (FX) Indices trading | |
FX Indices have massive market liquidity. |
|
Clients can trade any time, the market is 24/5 open. | |
|
Even the deposit is extremely low. | |
| Spot Metal trading | |
Metal trading cost is exceptionally low. |
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The commission rates and spreads are typically zero for gold. | |
|
Here clients trade gold against the dollar with spreads as low as 0.0. | |
| Stock trading | |
Stocks can also be directly traded in FXTM. |
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Major US and Hong Kong companies including global brands like Facebook, Apple, Alibaba, Tesla, etc., are available to trade in FXTM. | |
|
24 hours client support from Monday to Friday. | |
|
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A minimum deposit of just $500 is required. | |
|
The Trading account is fast which opens in few minutes. | |
| Stock CFD trading |
|
Stock CFDs can be traded on the Advantage (MT5) account. |
|
|
Spreads are as low as 0.1. | |
|
|
Clients will be charged a static fee of $4/lot. | |
|
It is one of the best rates in the market. | |
| Stock Baskets trading | |
Stock Baskets are available for all types of accounts |
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Major Stock baskets available in FXTM to trade are the Social media index, the Green index, the Mobile index and the Space war index. | |
|
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It can be accessed via both the MT4 and MT5 platforms. | |
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Client support is available from Monday to Friday for 24 hours to assist with your trading accounts. | |
| Indices CFD trading | |
Indices are available for more affordable orders. |
|
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You have the flexibility to trade for long hours. | |
| Commodity CFD trading | |
Commodities trading are Secure and safe with crystal clear transparency. |
|
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FXTM provides 18 language customer support. | |
|
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It gives easy access to popular commodity markets. | |
Image 5: The screenshot below gives the most important Trading instruments and Products available in FXTM.
Image rights reserved to FXTM
FXTM serves furthermore with the best-educating tools like a Demo account, eBooks, Guides, Tutorials, Webinars, Quality educational articles, Seminars. Especially, the education section of the website contains educational videos and eBooks.
In the Education Section you can explicitly find the Forex Trading seminars, Forex trading webinars, Beginner guides for Forex Trading, Forex Trading Strategies, Short Forex Videos, Periodic table, etc. It is a user-friendly and easy-to-access manual for beginners.
Even the more experienced traders can also use these guides to refresh their knowledge. The main thing is that glossary is available here which is very useful for all traders. Trading related short form Words are also clarified here.
FXTM conducts seminars and workshops. The general educational articles provided by FXTM is an information pool for all the traders. As a result of all the educational content provided by FXTM, beginners are the ones who learn a lot about trading.
The Daily Market Analysis section is an interesting part under the education and research. The Twitter handle of FXTM @fxtmglobal gives updates on market analysis and reviews. FXTM also uploads the market analysis videos weekly.
Image 6: Information about Guides and Tutorials available in FXTM.
Image rights reserved to FXTM
FXTM has straightforward Deposit and Withdrawal procedures. The deposit fee is 0 for all accounts. They accept USD, EUR, and also GBP.
Moreover, the payment methods will differ for different countries. Credit Card payments like Visa, Mastercard, Maestro cards are also available. The processing time will depend on the payment deposit method.
Withdrawal fees vary according to the withdrawal method. While using Credit Card, withdrawal commission fees will be applicable. For Visa, Mastercard, Maestro cards the fee of 2 EUR, 3 USD, 2 GBP is applicable. The processing time also depends on the withdrawal method.
Image 7: Various Withdrawal methods available in FXTM is given as an illustration
Image rights reserved to FXTM
‘Refer a friend to FXTM’ feature is offered by ForexTime. The client who recommends this feature and the friend who joins FXTM both receives $50. Terms and conditions are applicable for using this feature.
Image 8: FXTM Refer a friend feature.
Image rights reserved to FXTM
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