FXTM full review - TopForex.Trade

FXTM

FXTM is an international online trading broker that provides users with an extensive educational base, investment opportunities such as CopyTrading, and attractive trading conditions.

Numbers of instruments
100+
Regulated by
FSC Mauritius
Overall
93
Comissions & fees
90
Licensing & safety
95
Platforms & tools
95

FXTM

Leading the way in online trading

FXTM was founded in 2011. Since then, the broker has earned the trust of more than two million customers across the globe. They’ve been especially successful in Africa, winning the “Best Forex Broker in Nigeria” award.

International recognition is very much based on the fact that Forex Time is properly regulated. They have a CIF license from Cyprus Securities and Exchange commission covering their presence in Europe, an FSCA license from South Africa that regulates their operations in Africa, and an FCA license that legalizes their business in the UK.

Also, the Exinity group that owns FXTM is registered with the Financial Services Commission of the Republic of Mauritius and is a member of the Financial Commission dedicated to resolving international disputes in the Forex market.

Altogether, the regulatory base of FXTM makes a formidable foundation to let international traders operate in a legally safe environment.

FXTM is an international online trading broker that provides users with an extensive educational base, investment opportunities such as CopyTrading, and attractive trading conditions.
FXTM was founded in 2011 and since then has earned the trust of more than two million customers across the globe.
Forex Time is properly regulated. They have a CIF license from Cyprus Securities and Exchange commission covering their presence in Europe, an FSCA license from South Africa that regulates their operations in Africa, and an FCA license that legalizes their business in the UK.
Exinity group that owns FXTM is registered with the Financial Services Commission of the Republic of Mauritius and is a member of the Financial Commission dedicated to resolving international disputes in the Forex market.

CopyTrading

FXTM five easy stept to start copy trading

FXTM offers interesting investment opportunities to its clients. CopyTrading is the main one.

Practically, it’s a straightforward tool to use. In a matter of several minutes, traders can open an investment account. Filling in a simple form and depositing $100, they can proceed to choose one of the Strategy Managers to copy their performance.

This performance is automatically assessed by FXTM on a daily basis and then translates into a total ranking of all Strategy Managers. Traders will have no problem choosing as they can use filters such as returns, risk acceptance, experience, trading style, or other key criteria to find a Strategy Manager that best suits their objectives.

Eventually, if a Strategy Managers brings positive performance and profits, traders who follow that manager will cash in as well. In return, the manager will get a certain percentage as a reward, too.

What’s important is that Forex Time offers plenty of explanatory materials and customer support to clarify any doubt related to CopyTrading to make sure traders understand what that is and how it works.

Therefore, once users register with FXTM, they can call the number indicated on the website and speak to the support team asking whatever they want to know – and they will find exhaustive answers with full support from the broker.

Education

FXTM educational periodic table

FXTM’s educational base is extensive and well-structured.
While Beginners Guides and introductory tutorials help Forex newbies to make a smooth entry into the world of online trading, there are many videos and trading tips for advanced traders, too.

Users can join regular webinars and seminars to benefit from experienced traders and market professionals. Also, there is a specific section about CFDs so those interested in this type of trading instruments will have exhaustive materials here.

On a side note, as an element of the educational base, FXTM made a Periodic Table of Investment which is a very engaging way to get yourself aware of most Forex terms and definitions.
Analytics
With Forex Time, traders will have daily market news and analytics on most social platforms, including Twitter and Facebook.

Economic calendar and Forex news timelines will help plan trading activities and put market events into perspective.

In addition, while traders can watch regular market analysis videos, they can also benefit from FXTM’s podcast “Markets Extra”, where FXTM’s specialists discuss the most trending topics that move the market.

Trading instruments

FXTM trading instruments available for traders

There are eight categories of instruments traders can operate with Forex Time.

The primary one is Forex that offers access to mainstream currency pairs as well as crosses and exotics.

Gold and silver make the category of metals enabling traders to potentially benefit from trading these traditional safe-haven assets.

Stocks are an interesting section of what FXTM offers as traders have access not only to the US stocks but also to those traded in Hong-Kong Exchange. That is a very rare extra to those who like trading on the global corporate landscape.

While operating US stocks is offered commission-free, trading those of the Hong-Kong exchange comes with a low subscription fee.

Oil and natural gas are energy assets that make the commodities section of the trading instruments.

Then, there are Forex indices such as U.S Dollar Index or the Euro Index, global indices like S&P 500 or Nasdaq, stock CFDs, and stock baskets.

Overall, there is a solid impression that traders will not be disappointed by the broad selection of assets to trade with FXTM.

Trading environment and conditions

FXTM deposit and withdrawal methods

MT4 and MT5 are available for traders in desktop, web, and mobile versions. Therefore, whether traders want to use a PC, laptop, Mac, or a mobile device to trade on the go, FXTM supports any approach.

Forex Time offers three main account types: Micro, Advantage, and Advantage Plus. The first one offers a minimum deposit of $50, no commission, and low spreads. However, it’s only available on MT4. While the other two are available for MT5 as well, they offer a broader range of trading instruments under a minimum deposit requirement of $500.

Commissions depend on the chosen account type and the platform you use. For example, the Advantage MT4 account type offers zero spreads on most FX majors and gold. In the meantime, Advantage MT5 has a fixed commission of $4 per lot that doesn’t change whatever market sector, trade volume, or equity you have.

Leverage is worth looking at with FXTM. On some trading instruments, traders can choose up to 1:2000, accessing very high trade values with a low margin requirement.

Finally, Forex Time offers an impressively extensive list of accepted payment methods. To name some, it’s FasaPay, PayR LATAM, Nganluong, GlobePay, Skrill, VLOAD, Qiwi, PerfectMoney, and many more, including numerous regional and in-country solutions. That is, aside from all the standard methods like bank and credit/debit card transfers.

FXTM overall scores

In this review, you can find all the information you need to decide whether FXTM is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how FXTM scored in each of our high-priority categories

Overall
93 points
Comissions & fees
90 points
Licensing & safety
95 points
Platforms & tools
95 points
Instrument
Number
Stocks
Indexes
Commodities
111
222
333

FXTM fees and commissions

Forex Time offers three main account types: Micro, Advantage, and Advantage Plus. The first one offers a minimum deposit of $50, no commission, and low spreads. However, it’s only available on MT4. While the other two are available for MT5 as well, they offer a broader range of trading instruments under a minimum deposit requirement of $500.

Commissions depend on the chosen account type and the platform you use. For example, the Advantage MT4 account type offers zero spreads on most FX majors and gold. In the meantime, Advantage MT5 has a fixed commission of $4 per lot that doesn’t change whatever market sector, trade volume, or equity you have.

Pros
Cons
Hong-Kong exchange stocks in the list of trading instruments
Many withdraw and deposit methods
Leverage of up to 1:2000
Minimum deposit of $50