FXTM Review 2019 | Is FXTM a Scam or Legit Forex Broker?

Read our FXTM review to find out if FXTM is a scam or a reliable forex broker. Unbiased Forex brokers reviews combined with user comments.

Average broker rating

3.8/ 5

Rating breakdown

Protection & Regulations
80% Complete (danger)
4.0/5
Trading platforms
100% Complete (danger)
5.0/5
Tradable Products
100% Complete (danger)
5.0/5
Deposit and withdrawal
100% Complete (danger)
5.0/5
Trading Fees
20% Complete (danger)
1.0/5
Support
60% Complete (danger)
3.0/5
# Broker's Features FXTM Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will review FXTM.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. FXTM offers Online Financial Trading and Investment Services Such as Bitcoin, Forex, CFDs, CFDs on Bitcoin, CFDS on Spot metals, Cryptocurrencycurrency.

Tradable Products: FXTM presents hundreds of trading instruments from across different global exchanges. It offers trading of 50 currencies, 5 metals, 3 commodities, 180 share CFD’s, 5 indices and 3 cryptocurrencies.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. FXTM is Market Maker, ECN, STP.

Features: FXTM offers great tools for traders. These include FXTMInvest social trading programme, and you can participate in regular trading contests

Executing Trades:

FXTM allows you to execute a minimum trade of 0.01. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As FXTM offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades. As a market maker, FXTM may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades. FXTM also offers a number of useful risk management features, such as Negative Balance Protection, price alerts and much more.

Minimum Deposit Requirement: To properly understand if a broker is suitable for a certain trader, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. FXTM recommended minimum capital is $10.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. FXTM is regulated by CySEC, FCA, IFSC. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Investor Protection & Regulations: FXTM is an internationally-regulated brand, which provides a measure of authenticity in is brokerage operations. It is regulated in UK by FCA and Cyprus by CySEC. As such it offers investor compensation schemes to protect its traders and it segregates its working funds from client accounts.

Account currencies: Next lets consider the Account currencies each broker offers. FXTM offers EUR, USD, GBP, NGN different account currencies for each account types.

Account Openning: The Standard and ECN Accounts on FXTM have several subtypes. Under the Standard account, we have the Standard, Cent and Shares Account types. ECN account sub-types are the ECN Zero account, FXTM Pro account and the ECN account. ECN accounts can be traded on MT4 and MT5.

FXTM offers a demo account for practicing trading skills and get familiar with the broker’s trading platform.

Languages Available: Next lets have a look at each broker's different Language options. FXTM offers English, Russian, over 18 languages supported.

Payment methods: Next lets have a look at each broker's payment options. FXTM offers Credit/Debit Cards, Bank Wire Transfer, PayPal, Bitcoin different payment methods for each account types.

Deposit and withdrawal: FXTM has an extensive deposit/withdrawal system, which includes credit and debit cards, e-wallets, bank wires and crypto deposits. Deposits are all free of charge. For withdrawals, Credit and debit cards face a 2 EUR/ 3 USD/ 2 GBP charge and are usually processed within the same business day

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, FXTM makes MT4, MT5, MT4 MultiTerminal, Web available to clients.

Web & Desktop Trading Platforms: FXTM offers various versions of the MT4 and MT5 platforms to its clients. MT4 is available through WebTrader, download client or mobile. The ECN Zero and ECN accounts on FXTM are operated with MT4 bridge software. Therefore, the same MT4 features are available to traders with these accounts as well as the regular accounts. MT5 is available for download.
Mobile Trading Platforms: FXTM proprietary Trader App is available on the Google Play and iOS Stores. With this you can access charting tools for trading, access one-click trading and follow the market movements on the go. Additionally you can download the MT4 and MT5 app from the app store and Google Play Store for Android.

Other

Trader Education
FXTM offers good trader education resources across ebooks, webinars, physical seminars and a library of short educational videos too

Promotions
Bonuses, promotions and contests are freely available on some of the FXTM operational locations. They include 10%-30% deposit bonus in Asia, Africa, China and MENA and refer a friend bonus plus trading contests

Support
FXTM has a robust customer support department which is available in 17 languages. The Live Chat option is one of the faster ways of getting in touch. The service is highly efficient and the support rep knew the information to hand without having to keep us waiting.

Recup
FXTM is regulated by more financial authorities globally, including the top-tier Financial Conduct Authority (FCA). On the plus side, customer support gives fast and relevant answers. The educational tools cover tools from a demo account to webinars. The account opening is fully digital and fast. FXTM has some drawbacks though. It charges inactivity and withdrawal fees. The product range is limited.

Final Thoughts
Traders have a good experience with FXTM’s platforms. Many good reviews can be found and awards from reputable sources like World Finance.

Trading Experience
Traders have a good experience with FXTM’s platforms. Many good reviews can be found and awards from reputable sources like World Finance.

FXTM social media competition

FXTM social media competition

The online retail forex broker Forex Time (FXTM) had been running a social media competition for the past three months, entitled "It’s Time!", as is the c...…

Published: Tuesday 29 October, 2019

FXTM forex demo contest already under way

FXTM forex demo contest already under way

Forex Time is a welcome addition in the world of forex brokers because the company is ever evolving and ever improving. The most recent testament to this ...…

Published: Sunday 27 October, 2019

FXTM’s Andrey Dashin on Cyprus as a jurisdiction and the current market volatility

FXTM’s Andrey Dashin on Cyprus as a jurisdiction and the current market volatility

FXTM is an international forex company that is headquartered in Cyprus and licensed and regulated by the Cyprus Securities and Exchange Commission. The he...…

Published: Tuesday 22 October, 2019

FXTM launches season of educational webinars

FXTM launches season of educational webinars

True to its principle for providing quality educational opportunities for its clients since it considers that an educated forex trader has a better chance to succeed, international …

Published: Tuesday 22 October, 2019

People Also Asked

Is FXTM regulated?
Yes, FXTM is regulated by top-tier regulators, CySEC, FCA, IFSC inclusive.
Where is FXTM based?
FXTM is based in Limassol
How does FXTM make money?
FXTM charges a spread between the bid price and ask price. In some instances it also charges a commission.
How do I deposit in FXTM account?
With FXTM you can deposit money via the following means; Credit Card, Cryptocurrencies, Maestro, Neteller, QIWI.
How do I withdrawal in FXTM account?
FXTM lets you request a withdrawal of funds from your account via the following means; Credit Card, Cryptocurrencies, Maestro, Neteller,.
What is the minimum deposit for FXTM?
FXTM has $10 minimum deposit.
What are the available account base currencies with FXTM?
FXTM trading accounts are offered in EUR, USD, GBP, NGN. If your country's currency isn't included in the list, you will need to open an account with another currency base.
What is the max leverage in FXTM?
FXTM has a maximum leverage is 1:1000 for professional traders.
How do I open an account with FXTM?
Opening an account with FXTM is a three-step process. First fill out the registration form, second is to send verification details to the verification department and lastly is to fund your account.
Does FXTM use MetaTrader?
FXTM platforms: Yes, FXTM use MetaTrader as well as the following platforms: MT4, MT5, MT4 MultiTerminal, Web
What type of broker is FXTM?
FXTM appears to be a Market Maker, ECN, STP broker which offers market access to a variety of traders.
Does FXTM accept US clients?
No
Does FXTM offers Islamic accounts ?
Yes
What financial instruments can I trade?
You can trade a wide variety of instruments with FXTM: You can trade a wide variety of instruments with FXTM: Bitcoin, Forex, CFDs, CFDs on Bitcoin, CFDS on Spot metals, Cryptocurrencycurrency

Are you Satisfied with what They Offer?