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User Review
5 (1 vote)

Summary

ForexTime is an online forex broker that stands for transparency, simplicity, and clarity. Besides offering an online platform for trading, FXTM serves as a forex educator so that traders can learn effective trading strategies and make profitable trades.

Pros

• Registration takes just one minute
• Leverage of up to 1:1000
• Low spreads that start from $0.1 on ECN trading accounts
• High-speed execution of trade orders
• Certified Islamic accounts and swap free accounts

Cons

• Does not accept traders from some countries

ForexTime is an online forex broker that stands for transparency, simplicity, and clarity. Besides offering an online platform for trading, FXTM serves as a forex educator so that traders can learn effective trading strategies and make profitable trades.

FXTM (Forextime) award

Here are some of the biggest advantages of signing up at FXTM:

  • Excellent Trading Conditions – The online forex broker offers fast execution of trade orders, tight spreads that begin from 0.1 pips, mini and micro lots, leverage of up to 1:1000, low minimum deposits, interbank liquidity, logarithmic trading, expert advisors, and No Dealing Desk (NDD) technology.
  • Wide Range of Accounts – You can choose from three types of standard accounts and seven types of ECN accounts.
  • Wide Range of Products – FXTM offers a wide range of trading instruments, trading platforms, and trading signals.
  • Excellent Customer Support – The customer support at ForexTime is available in multiple languages.
  • Market News and Analysis – You can avail of technical & fundamental analysis from top providers including economic calendar, weekly & daily reports, SMS alerts, trader calculators, and streaming news feeds.
  • Winner of Multiple Industry Awards – The company has won a number of industry awards, such as the International Finance Awards Best Online Forex Trading Company Nigeria (2018), Hexun.com’s Reputable Investor Education Forex Broker Award (2018), Fxeye.com’s Forex Brand of the Year China (2018), International Business Magazine’s Best Forex Education Provider Africa (2018), and FXEmpire’s Most Innovative Broker (2018), to mention just a few.

How Reliable is ForexTime?

FXTM is licensed and well-regulated. FT Global Limited, its parent company, operates under a license granted by the International Financial Services Commission (IFSC). The IFSC aims at promoting and developing Belize as a global center for financial services.

Regulation

The broker offers customer support for 24 hours per day from Monday to Friday. You can call the number +44-20-3734-1025 whenever you need assistance.

Register & Open a Demo Account

FXTM (ForexTime) registration

ForexTime gives new traders the option of opening a live account or try demo trading with balance of $1,000,000 in virtual funds. To open a demo account, you have to click on the Open Demo Account link. This takes you to an online registration form, in which you have to enter your names, country of residence, and email address and create a password.

Once you are confident about trading and want to open a live trading account, you can choose from the following types of trading accounts.

Types of Trading Accounts

ForexTime has designed several types of accounts to suit different trading styles. The two main types of accounts at the broker are Standards Accounts and ECN Accounts.

Standard Accounts

FXTM Standart accounts

You can choose from the following three types of standard accounts:

  • Standard Account – This type of account features tight floating spreads, leverage starting from 1:1000, instant trade execution, SWAP-free option, and no hidden commission. Standard accounts permit hedging and are available in GBP, EUR, NGN, and USD.
  • Cent Account – Meant for low risk traders, it comes with a minimum deposit of $5. It features SWAP-free option, cent lots, fixed leverage of 1:1000, instant execution of trade orders, and tight floating spreads.
  • Shares Account – Meant for those who prefer trading shares, this account gives access to over 180 US shares. It comes with no commissions, instant execution of trade orders, SWAP-free option, and fixed leverage of 1:10.

ECN Accounts

FXTM ECN accounts

You can choose from three types of ECN accounts, as follows:

  • Zero Account – This type of account comes with tight floating spreads, leverage of up to 1:1000, no requotes, and tight floating spreads. It permits scalping and hedging.
  • ECN Account – The spreads start from 0.1 and leverage of up to 1:1000 is available. The commission is low, starting from $4. It permits scalping and hedging.
  • FXTM Pro Account – Meant for professional traders, it features high-speed execution of trade orders, no requotes, no last-look pricing, SWAP-free option, no commission, and floating leverage of up to 1:200.

Trading Platforms

ForexTime offers a wide range of trading platforms, including the immensely popular MT4 and MT5 platforms. You can download these platforms of their Mac computers or PCs or mobile devices.

FXTM trading platforms

  • MetaTrader 4 Platform – The MT4 platform is available for PC, Android, iOS, and Mac. In addition, clients can choose from the MT4 WebTrader and the MT4 MultiTerminal.
  • MetaTrader 5 Platform – The MT5 platform is available for desktop, Android, iOS, and Mac. Those who would like to trade on their browsers can choose the MT5 WebTrader.

Trading Instruments

FXTM Forex

ForexTime offers trading on a wide range of trading instruments, as follows:

  • Forex – ForexTime users can access the forex market 24 hours per day and five times per week. They can trade 50+ pairs of currencies and enjoy floating leverage of up to 1:1000, low spreads that start from 0.5, and five decimal pricing.
  • Spot Metals – Customers who wish to diversify their portfolio can trade precious metals such as gold and silver directly on FXTM.
  • Share CFDs – Gain access to 180+ stocks by just opening the Shares Account.
  • Commodity Futures CFDs – Trade CFDs on oil products such as Brent Crude and West Texas Intermediate or indices such as S&P, DAX, and CAC.
  • CFDs on Indices and ETFs – FXTM allows its clients to trade ETFs through their authorized participant and gain access to funds invested on stock exchanges.
  • CFDs on Cryptocurrencies – Trade cryptocurrencies such as Ethereum, Litecoin, and Bitcoin paired with fiat currencies such as USD, EUR, and GBP.

FXTM Bonus & Promotions

ForexTime offers welcome bonuses, deposit bonuses, and cashback bonuses to new as well as existing players. However, these offers are time bound and must be grabbed before they expire.

FXTM Loyalty Levels

The company also runs a variety of forex contests to give clients a chance to showcase their skills and prove their expertise. They can compete with traders from different parts of the world and win titles and prizes if they win.

If a trader registered with FXTM refers a friend or a family member, he/she will get a bonus of $25. They can use a customized referral link to promote the online broker. Traders can earn up to $10,000 just by referring friends and family members, and they can withdraw these funds any time they wish.

Get a Forex Education

ForexTime education

You can easily get a forex education at FXTM. You can read high-quality articles on forex trading, view video tutorials, sign up for webinars, and check out the glossary.

Here is a list of educational and informative resources at ForexTime:

  • Free eBooks – FXTM has free eBooks for beginners as well as advanced traders. These eBooks are written by Andreas Thalassinos, a certified technical analyst and FX educator.
  • Forex Trading Seminars & Workshops – New customers can register for free for upcoming trading workshops and seminars.
  • Forex Trading Webinars – Signing up for a webinar at FXTM is absolutely free of charge.

In addition, there are forex trading strategies, forex glossaries, education articles and videos, periodic tables, beginner guides, and short forex educational videos, all designed to help traders improve their skills and knowledge of strategies.

Trading Toolbox

The FXTM trading toolbox and all the useful tools it contains is available free of charge. They range from risk management tools to technical analysis tools and have been developed to help clients make profitable trades.

ForexTime tools

Here is a brief overview of the tools’ traders can expect at FXTM:

  • Daily market analysis
  • FXTM trading signals
  • FXTM pivot point strategy
  • Forex news timeline
  • Economic calendar
  • Currency converter
  • Calculators such as margin calculator, pip calculator, invest profit calculator, and profit calculator

Guide to Making Deposits

Depositing funds into trading accounts and withdrawing profits is an easy process, which hardly takes any time. FXTM offers a wide range of local and international banking methods, many of which can be used for deposits as well as withdrawals.

To make a deposit instantly without fees or commission, you can use the following methods:

  • Maestro
  • MasterCard
  • Visa
  • Neteller
  • Skrill 1-Tap
  • WebMoney
  • Qiwi Wallet
  • Yandex Money
  • Perfect Money

FXTM payment methods

You can also use Bitcoin to make deposits in 24 hours without paying any commission. The traditional method of Bank Wire Transfer is also available, but the deposits will take up to five days to hit the account.

How to Withdrawing Profits&?

You can withdraw your winnings with zero commission using the following methods:

  • China Union Pay
  • Neteller
  • Skrill

You can make withdrawals on low commissions in the range of 1% to 1.5% using the following methods:

  • Cryptocurrencies
  • Yandex Money
  • Qiwi Wallet
  • Bitcoin

Bank Wire Transfer is also available as a withdrawal option, but it carries a commission of €30.

You can also use Visa, MasterCard, and Maestro by paying a commission of $3. Usually, the profits hit traders’ personal accounts in just 24 hours.

Our Take on FXTM

Professional trading

The online brokering service at FXTM is nothing short of exceptional. It is not only an online trading platform, but also an online teaching platform. Since the broker knows exactly what clients need, it features excellent customer support, wide range of account types and trading platforms, plenty of high-quality educational resources, and a wide range of bonus offers, which include refer-a-friend bonuses, cashback for loyalty, and welcome offers. We recommend opening the Demo Account or the Cent Account to get started at ForexTime.

FXTM (ForexTime) Review #1: Is It Reliable & Regulated FX Broker?
ForexTime is an online forex broker that stands for transparency, simplicity, and clarity. Besides offering an online platform for trading, FXTM serves as
Editor's Rating:
5