FXTM Review 2020
FXTM is an award-winning broker with over 250+ trading instruments and strict regulation in multiple jurisdictions. They have a range of educational material and trading tools with flexible account types to suit every trader.
FXTM Review 2020, Pros & Cons
- 250+ trading instruments
- Strict regulation
- Segregated client funds
- Multiple account types
- Commission free accounts
- Minimum $10 deposit
- Large selection of educational material
- No US clients
- Restricted leverage for EU clients
- Professional account required for best trading conditions
In this detailed FXTM review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
FXTM is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including FXTM.
FXTM Review: Summary
FXTM provides traders across the world access to trade the markets with over 250 instruments to choose from. They have tight spreads, good execution speeds and advanced trading tools whilst providing clients with additional risk protection and security through strict regulation.
FXTM (Forex Time) launched in 2011 with the goal of providing retail traders with industry leading trading conditions alongside an abundance of educational material and trading tools. Since then, they have grown into one of the global leading trading brokers with over 1 million registered accounts, continuing to focus on improving their products and services to keep up to date with the latest trading technologies, whilst partnering with talented and experienced teams from around the world.
FXTM offer multiple account types and flexible leverage to suit all different types of trader. Spreads are tight from just 0.1 pips with deep interbank liquidity for fast trade execution speeds and No Dealing Desk (NDD) technology to avoid a conflict of interest.
As per the name, the company values time as the most precious commodity above all. With every decision that they make, they put great emphasis on efficiency for their clients, operating with clarity, simplicity and transparency. Clients needs come first, with helpful, skilled and multi-lingual support, always on hand to assist you.
FXTM aim to empower traders to increase their trading knowledge so that they can get the best value from their investment. If you are a retail or corporate client, they can tailor a solution suited to your needs with trading platforms using the most up to date technology and some of the most competitive trading conditions.
FXTM have an ever-growing collection of tutorials and articles for both beginner and experienced traders with online webinars and local seminars offered to clients. This emphasises a commitment to helping traders improve their skills through education. They provide daily in-depth market analysis to help you keep up to date with the latest market news. You also get your own account manager who is on hand to assist and offer personalised support.
FXTM has an impressive trust pilot rating with hundreds of reviews leaving positive feedback for their trading services. They have won multiple awards including Best Investment Broker 2019 (FX Daily Info), Best Trading Experience 2019 (World Finance Awards), Most Innovative Broker 2018 (FX Empire), Best Trading Conditions 2018 (World Finance), Best Customer Service Global 2017 (World Finance) and Best FX Broker Asia 2017 (World Finance). The multiple awards won are a testament to the hard work and dedication that FXTM apply in every part of their business.
FXTM Review: Regulation
FXTM takes regulation and transparency very seriously with internationally-recognised licences held by the brand. Regulations are in place to ensure that FXTM operate with the upmost fairness and integrity whilst they must comply to strict regulatory rules. Strict regulation in multiple jurisdictions can help to give clients peace of mind that they are using a trusted and transparent broker.
Forextime UK Limited (www.forextime.com/uk) is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom with firm reference number 777911, to offer regulated products and services, such as accepting deposits, and making arrangements with a view to transactions in investments such as Commodity Futures, Contract for Differences, Futures, Options and Rolling spot forex contracts.
ForexTime Limited (www.forextime.com/eu) is regulated by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 185/12, and licensed by the Financial Sector Conduct Authority (FSCA) of South Africa with FSP No. 46614.
Exinity Limited (www.forextime.com) is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295.
In addition to multiple regulators, FXTM are also governed by the Markets in Financial Instruments Directive (MiFID) which was implemented for all EU members to share a common, robust regulatory framework that protects investors. As per MiFID II legislative framework, they publish on their website quarterly information on execution quality of transactions and annual information on the identity of execution venues and on the quality of execution obtained.
Client funds are held in segregated accounts with prominent banks so that they cannot be used for any other purpose within the company. Eligible clients may be entitled to protection of funds under the Financial Services Compensation Scheme (FSCS).
FXTM Review: Countries
FXTM provides broker services to most countries although they do not provide services to residents of the USA, Mauritius, Japan, Alberta, British Columbia, Canada, Quebec, Saskatchewan, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, the Occupied Area of Cyprus.
Some FXTM broker features and products mentioned within this FXTM review may not be available to traders from specific countries due to legal restrictions.
FXTM Review: Trading Platforms
FXTM offer the industry leading trading platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for trading on your desktop (Windows / Mac), web or mobile devices (iPhone / iPad / Android / Tablet). This is useful if you need to trade on the go from multiple locations.
MetaTrader offers user friendly features and cutting-edge trading technology, with access to all FXTM’s major trading instruments, multi-currency/language support, technical indicators and templates for chart analysis, automated trading using expert advisors (EA’s), a large community of traders to share ideas with and more.
Whilst MT4 should be sufficient enough for most traders, MT5 offers more order types, technical indicators, graphical objects, timeframes and includes a built-in economic calendar to stay up to date with the latest market news releases.
FXTM Trader App
In addition to MetaTrader, FXTM also have their own in house FXTM Trader App, available for download on both Android and iOS. The FXTM Trader App allows you to keep the markets at your fingertips with over 250+ instruments to trade. It comes equipped with numerous features for superior mobile trading including cross-platform trading, order placing and managing, one click trading, trader’s dashboard, real time updates with live quotes and charting tools.
FXTM Review: Trading Tools
FXTM have a selection of free trading tools that can be used to keep up to date with the markets, for risk management, to assist with technical / fundamental analysis and to help identify potential trading opportunities.
Daily Market Analysis
Daily Market Analysis is FXTM’s very own news portal that offers detailed market analysis and insights to keep you in the loop with the latest market happenings. They analyse price movements based and technical and fundamental analysis across a range of global markets. The Market Analysis team are regularly quoted in major international publications, including BBC, CNN, CNBC, Bloomberg, The Wall Street Journal, Financial Times, Reuters and Forbes.
FXTM Trading Signals
FXTM Trading Signals are available in MyFXTM via a technical analysis tool that provides data and assessments of market movements across a range of trading instruments.
FXTM Pivot Point Strategy
FXTM’s Pivot Points Strategy uses three popular technical indicators combined with your own choice of five pivot point calculations to assist with your trading and help determine the market sentiment.
The FXTM Economic Calendar allows you to keep up to date with economic news releases, delivered in real time and with an impact rating.
Forex News Timeline
With the Forex News Timeline you can receive live market news straight into your trading platform or via the FXTM website.
FXTM provide a free Currency Convertor tool for you to be able to calculate the foreign exchange rates of major FX currency pairs.
The FXTM Margin Calculator can be used to calculate risk to help with risk management.
The FXTM Pip Calculator is a tool for estimating the potential profits or losses before trading a selected FX currency pair.
The Profit Calculator tool lets you quickly and easily determine a positions profit or loss at different market prices.
FXTM Review: Education
FXTM is committed to educating traders, with a thorough and extensive educational centre that includes free eBooks, videos and webinars. They cover a wide range of topics for all levels of traders including trading strategies, trading tools, technical analysis and more.
Articles and Tutorials
FXTM have created a collection of educational articles and tutorials to help expand your trading knowledge and confidence. Written by their in-house experts, they go into great detail and cover a wide range of topics suitable for both beginner and advanced traders.
FXTM offer bite-sized and accessible short educational trading videos to help you learn more about trading and the different concepts involved.
Another way FXTM have committed to improve the trading experience is by providing traders with educational webinars that are freely available to all clients and available in multiple different languages.
With so many different definitions for traders to learn, FXTM have compiled a vast glossary of terms and definitions that is freely available on their website.
FXTM Review: Trading Instruments
FXTM offer a wide range of over 250+ trading instruments including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies and CFDs. There are over 60+ minor, major and exotic currency pairs, 180+ share CFDs and major Cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Ripple.
You can trade major, minor and exotic currency pairs to take advantage of a currency’s increasing or decreasing value. FXTM provides forex traders with award winning trading services, strict regulation, deep liquidity for fast trade execution, flexible accounts/leverage, tight spreads and low minimum deposit requirements.
CFD Trading on Commodities
FXTM give traders access to find new opportunities in the global commodities markets by trading CFDs online with low margin requirements. This is a flexible and convenient way to access the commodities markets rather than purchasing the product outright and to diversify your portfolio. Traders look to take advantage of the fluctuating prices of oil and other energy products.
CFD Trading on Indices
You can trade CFDs on Indices with FXTM and choose from some of the most prominent and active securities in the US, Europe, Australia and Asia. Traders can buy a selection of stocks to suit the needs of their trading strategy including GDAX (Dax 30), AUS200 (Australia 200), ND100m (US Tech 100 – Mini), UK100 (UK100) and SP500m (US SPX 500 – Mini).
Spot Metals Trading
You can trade metals online with FXTM including Gold and Silver. Precious metals are popular trading instruments that have been traded throughout history and can help to diversify an investment portfolio.
Through FXTM you can trade share CFDs with access to some of the larger companies on the stock market such as Apple and Amazon. They provide traders with access to direct liquidity pricing and live data from NYSE & NASDAQ. FXTM offers its clients over 250+ US and European major company shares. Choose from shares of 164 leading US companies and 103 prominent European companies.
FXTM Review: Accounts & Fees
FXTM have a selection of trading accounts to suit individual trader requirements with flexible leverage, powerful trading platforms across multiple devices, competitive trading conditions and minimum deposits from just $10. FXTM is an Islamic friendly broker with swap free accounts also offered.
There are 3 standard account types and 3 Electronic Communication Network (ECN) account types. MT4 is available on all accounts whilst you will need an ECN account if you wish to use MT5. Demo accounts are also available if you wish to trial FXTM before opening a real account and depositing funds.
Leverage is offered based on your knowledge and experience. The Leverage / Margin requirements may be subject to change as a result of applicable regulations in your country of residence. The highest leverage applicable to retail clients is 1/30 and the highest leverage Forextime offer to clients is 1/300. ESMA have introduced under the product and intervention options that the highest leverage would be up to 1/30 for retail and up to 1/400 for professional clients.
The FXTM standard account offers a wide range of features and benefits to all levels of traders. The minimum deposit requirement is $100 with a 30-lot maximum volume per trade. There is no commission charged on this account although the floating spreads start from 1.3 pips as they are marked up to cover costs.
The cent account requires a minimum deposit of just $10. On this account type your balance will appear in cents. This account can be used as a way to test the standard account conditions FXTM offer, with a lower initial deposit. The maximum volume per trade is 1 lot whereas there is again no commission charged but the spreads are floating from 1.5 pips.
The FXTM share account has 180+ shares to choose from with zero commissions, 1:5 leverage and real-time data from the two largest stock exchanges in the world. FXTM has direct liquidity from the renowned NYSE and NASDAQ exchanges. This direct connection from the exchanges helps to ensure that trades will be executed fast with exceptional liquidity. The share account minimum deposit is $100.
ECN Zero Account
Through the ECN zero account, FXTM offers ask and bid prices directly from liquidity providers (LPs) although they do add a mark-up to the spread, the account is not charged a commission. This account has market execution with no re-quotes and spreads starting from 1.5 pips. The minimum deposit required is $200.
This account is similar to the ECN zero account but spreads start from just 0.1 pips and there is a small commission charge of $2 per lot. The minimum deposit required is $500. Spreads are usually tighter and execution speeds superior on an ECN account.
FXTM Pro Account
Professional traders can take advantage of the deep liquidity that FXTM offer directly from tier-1 liquidity providers and spreads starting from 0 pips, no last look pricing with no requotes and no commission charges.
Overall, the FXTM pro account has lower spreads, more liquidity and faster execution speeds. Out of all the accounts FXTM offer, this would most likely be the preferred choice for professional traders, institutional traders and hedge fund managers. The professional account does require a minimum account balance of $25,000 is maintained to qualify.
As broker fees can vary and change, there may be additional fees that are not listed in this FXTM review. It is imperative to ensure that you check and understand all of the latest information before you open a FXTM broker account for online trading.
FXTM Review: Customer Service
FXTM works hard to offer helpful, skilled and multi-lingual trading and technical support, always on hand to assist you with your questions. Customer support is provided via online chat, telephone and email whilst clients get their very own dedicated personal account managers.
FXTM Review: Deposit & Withdrawal
FXTM have a good selection of account funding and withdrawal options for simple and quick processing. They offer some online payment processers such as Skrill and Neteller which may be more convenient for some clients whilst they are constantly adding new options in order to improve the process even more. There is a small inactivity fee of $5 if your account has no trading activity for 6 months.
Some fees may be charged when using certain payment methods. Bank transfers may take a few business days to clear. Accounts can be opened in EUR, GBP, USD. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.
FXTM Review: Account Opening
Opening an account to trade with FXTM is a quick and easy process that can be done online. There is a short form to complete on the website. You will then need to verify your email address and upload a form of identification and to confirm your address for KYC purposes. Once verified by the FXTM account team, you can fund your account and start trading.
FXTM Review: Conclusion
FXTM is an award-winning broker that puts great emphasis on client’s education whilst offering a flexible selection of trading accounts to suit different styles of traders. They have strict regulation in multiple jurisdictions and offer a wide range of over 250+ trading instruments across multiple markets and platforms.
Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FXTM and FXTMPartners brands based on the legal requirements in his/her country of residence. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.