Forex
ETF
CFD
82/100
Rating
Go to FXTM Forex
Highlights
  • Over 25 currency pairs available for forex trading
  • A choice of trading platforms and accounts
  • An extensive Help section, including live chat
82/100
Rating
Go to FXTM ETF
Highlights
  • An award-winning broker with over 25 industry accolades
  • Try your ETF trading skills on a demo trading platform
  • No fees or commission across majority of accounts
82/100
Rating
Go to FXTM CFD
Highlights
  • A choice of trading accounts for all types of CFD traders
  • Helpful resources to further your knowledge
  • Try your CFD trading skills using a demo account

FXTM Review ZA 2021

Is FXTM Safe & Legit?

Welcome to our FXTM review, in which we’ll be taking an in-depth look at the foreign exchange broker, telling you absolutely everything you need to know, from types of trading accounts to details of unique site features.

We’ll give you information about the trading platforms on offer, the type of help and support you can expect to encounter, and much, much more. And we’ll tell you all about our FXTM experience and rating, so you can decide whether FXTM could be your new forex trading partner.

Company
CompanyForexTime Limited
Headquarter35 Lamprou Konstantara ,4156 Kato Polemidia ,Limassol ,Cyprus
Year of Founding2011
CEONicholas Defteras
Web Sitewww.forextime.com
Available LanguagesEnglish
Customer SupportLive Chat, Email Support
Email[email protected]
Phone00357 25 558 777
Licence
CySEC - Cyprus Securities and Exchange Commission
Verified by-
Payment Methods
Credit Card
Skrill
Neteller
Bank Transfer
Show More

Offers and Bonuses - No bonus for new traders at FXTM

As part of our FXTM review we looked at what’s on offer for new signups to the site. There’s no sign-up bonus for the majority of new members, but if you’re based in the US there are occasional introductory offers.

Most recently, there has been a 30% deposit match promotion running for new signups from the US, although this promotion has recently ended. However, there’s every chance a new promotion will be introduced to replace it. US members of FXTM can also benefit from a $50 bonus for introducing friends to the site too.

Usability and Design - Our thoughts on FXTM

One of the first things we noted as we prepared our FXTM review, is that it makes no difference whether you’re an experienced trader with in-depth knowledge of the trading markets, or if you’re a complete newcomer to the world of forex trading – FXTM is determined to give you the experience you’re looking for.

Clear menus and links take you straight to the parts of the site you’re looking for, and it only takes a moment to find the areas of the website that are of particular interest to you. There’s also a comprehensive FAQ page, so you’re never far from the answers you’re seeking.

Accounts - Accounts for every type of trader at FXTM

Whether you’re a fan of tight spreads or you’re hoping for an opportunity to trade a whole range of different assets, FXTM has you covered, with a choice of three separate trading accounts.

Micro account

The perfect starting point for new traders, offering instant execution, no commission and tight spreads, allowing you to trade in metals, FX, indices and commodities. There’s a minimum deposit requirement of £50. The Micro account uses the MT4 trading platform.

Advantage account

The most popular type of trading account at FXTM, offering market execution with a minimum deposit requirement of $500. Commission is charged on this account, priced from $0.4 up to $2, with ultra-tight spreads from just 0.0. This account allows you to trade FX, FX indices, metals, commodities, indices and stock baskets. The Advantage account uses both the MT4 and MT5 trading platforms.

Advantage Plus account

The Advantage Plus account also requires a minimum deposit of $500 and offers market execution with tight spreads and no commission. Just as with the Advantage account you can trade FX, FX indices, metals, commodities, indices and stock baskets. The Advantage Plus account uses the MT4 and MT5 trading platforms.

Trading Platforms at FXTM - A few to choose from

As part of our FXTM review we took a close look at the trading platforms available across the site.

MT4 and MT5

MT4 and MT5, are two of the leading trading platforms used for accessing the foreign exchange markets and other financial instruments, including precious metals, CFDs and commodities. Both platforms are completely free to access at FXTM, with plenty of help and support on hand if you run into any problems.

FXTM Trader

Our FXTM review discovered that the broker also offers its own proprietary app, which is available for iOS and Android handheld devices. It includes an easy-to-use interface and state-of-the-art charting tools, with one-click trading for super-fast market action.

Trading Payments – Deposit and withdrawals at FXTM

This section of our FXTM review is focussed on the deposit and withdrawal options – after all, you’ll be wanting to make speedy deposits so that you can capitalise on current market conditions, and you’ll also be keen to discover how long you’ll be expected to wait for withdrawals to be actioned.

As part of our FXTM review we took a look at the deposit options available, and discovered that you can fund your account using bank wire transfer, bank cards, Skrill and Neteller. There are no fees for depositing funds, and most methods are actioned within just two hours, although bank wire transfers can take up to three working days to clear.

Credit Card
Skrill
Neteller
Bank Transfer

Withdrawals made using Neteller or Skrill don’t incur any charges, but withdrawals using bank cards incur a charge of £2. All of these withdrawal methods are actioned the same day, but our FXTM review discovered that withdrawals via bank wire transfer take a little longer. Withdrawals directly to your bank account also incur a heavier financial penalty of £5. If you want to avoid charges for withdrawing funds, take a look at our Plus500 review.

FXTM doesn’t have the biggest selection of deposit and withdrawal options. If you’re looking for more choices be sure to check out our Binance review, or our FP Markets review.

Fees – Commission rates at FXTM

At present, there are no fees for using the Micro or Advantage Plus accounts, although some withdrawal options will incur a charge.

The Advantage MT4 account charges commission at a rate of 4 units of the base currency (as well as the conversion to the actual trading account’s currency, if that applies). The Advantage MT5 account has commission fixed at $4, representing a $2 charge for opening a position, followed by a further $2 for closing it again.

As we prepared our FXTM review we noted that inactivity fees are charged at $5 per month following a six-month period of inactivity on the account.

Customer Service – Help when you need it at FXTM

Next, our FXTM review took a long, hard look at the customer support options available, and we discovered that there is always help at hand whenever you might need it. Your first port of call if you run into problems, is to check out the comprehensive FAQ section on the website.

If you can’t find the answer to your question amongst the FAQ section, you’ll find a live chat button at the bottom right-hand corner of every page across the FXTM website, which will deliver a fast response. You can also use Telegram or Messenger if you prefer, and there’s a telephone number listed if you prefer to speak to someone in person. You can even request a call-back if that’s more convenient. You can also get in touch via email, if you prefer.

Regulation and Deposit Insurance - All above-board at FXTM

A major part of our FXTM review involved checking out the licences and security features – after all, you need to know that you’re going to have a fair and legitimate trading experience, even if your trades don’t go according to plan! And we’re happy to report that the site is fully authorised and regulated by the FCA within the UK. The site is also regulated by the Cyprus Securities and Exchange Commission, as well as the FSCA in South Africa.

CySEC - Cyprus Securities and Exchange Commission
FSCA - South African Financial Sector Conduct Authority
FCA - Financial Conduct Authority

Our FXTM review also discovered that client funds are held in a completely separate account from the company’s other funds. Client assets are never used for company business activities, and are always kept in top tier banks, according to the country you’re based in.

Additional Features - More features at FXTM

As part of our FXTM review we took a look at the company’s history, and we’re happy to reassure you that this is no fly-by-night operation! FXTM was established in 2011, so it has a long history of bringing trading opportunities to a global audience.

FXTM is regulated across multiple jurisdictions, including Europe, Asia, Africa and Latin America, with over 3 million clients spread across 180 countries. The broker has received more than 25 industry awards since it was first established, meaning it guarantees a fair and legitimate trading experience to experienced traders and those just starting out on their trading journey.

FXTM Forex

Trade Offer - Over 50 currency pairs

Over 50 currency pairs are available to trade at FXTM, including all the major currency pairs, such as GBP/USD, EUR/GBP and USD/JPY. But there are also plenty of minor currency pairs on offer, too, including AUD/SGD, NZD/CAD and GBP/NZD. Our FXTM review also picked up on the fact that FXTM gives you the opportunity to trade in exotic currency pairs, with options that include EUR/HKD and GBP/INR.

Trading Costs - Depends on your account selection

The fees that you’ll have to pay for trading Forex at FXTM will depend upon the type of account you choose. The Micro and Advantage Plus accounts don’t charge any commission fees, whereas fees will be charged if you decide to access the Advantage trading account.

It’s important to understand that withdrawal methods tend to attract a fee at FXTM, although once again, this will depend on your preferred option. Our FXTM review discovered that Neteller and Skrill withdrawals are fee free, so you could save yourself some extra money by opting to use eWallets to access your withdrawals from the site.

Trading Conditions - 24/5 forex trading

The Forex market operates 24 hours a day, five days a week, with the actual hours depending on where you happen to be in the world. Using EST, the markets are open from 5pm on Sundays through till 4pm on Fridays, which offers plenty of trading opportunities for beginners and more advanced traders.

Our FXTM review discovered that the broker typically offers zero spreads on major FX pairs. FXTM suggests that its Advantage account is probably the best option for forex trading for this reason.

Product Summary - An excellent forex trading platform

We found that FXTM regularly appears in lists of the top forex trading platforms, thanks to its choice of trading platforms and in-depth educational resources. Whether you’ve been trading forex for many years or you’re just about to start trading for the very first time, you’ll undoubtedly find yourself in good hands if you decide to sign up for an FXTM forex trading account.

With over 25 currency pairs available, and a seemingly endless resource centre to help you develop trading strategies, FXTM is a broker worth considering if you’re interested in forex trading.

82/100
Rating
FXTM Highlights
  • Over 25 currency pairs available for forex trading
  • A choice of trading platforms and accounts
  • An extensive Help section, including live chat
Go to FXTM
FXTM ETF

Trade Offer - What ETFs can you trade?

FXTM is committed to helping traders achieve the best results from their trading activities, whether that’s ETFs, CFDs or forex. That means you can expect a wide range of trading opportunities no matter how much you’re planning on investing in your online trading experience.

Trading Costs - Keep these in mind

There’s a very clear pricing policy across the FXTM website, so you won’t have any unpleasant surprises as you trade. Deposits are free, as are withdrawals made via Neteller or Skrill. Other withdrawal methods incur a small charge, and the Advantage account is also subject to commission fees.

Exchanges and Trading - Trading ETFs on FXTM

Trade stocks at FXTM and you have options available from the New York Stock Exchange as well as Nasdaq. The site gives you completely free access to price data in real time, as well as real-time trade execution, which enables you to make the most of every trading opportunity that comes your way.

FXTM lets you explore ETF trading using a demo trading platform while you’re finding your feet. Then when you’re ready to dip your toes into the real-money trading waters you’ll have a good idea of what lies ahead – as well as the strategies to help you make good decisions, based on real-time events.

Product Summary - All the resources you need for ETF trading

If you’re new to ETF trading, FXTM provides you with all the helpful resources you need to get started, including a demo trading account that uses real-time data to give you genuine insights into the online trading world. Refine your skills, then progress to one of the real-money trading platforms, where you can use your new-found skills to inform your decision-making process.

82/100
Rating
FXTM Highlights
  • An award-winning broker with over 25 industry accolades
  • Try your ETF trading skills on a demo trading platform
  • No fees or commission across majority of accounts
Go to FXTM
FXTM CFD

Trade Offer - Wide range of CFDs

FXTM aims to make CFD trading as easy as possible, thanks to a wealth of resources designed to help you make appropriate trading decisions. The site offers a number of options, including share CFDs, commodity CFDs and index CFDs, with in-depth beginner’s guides to help guide you through the process. The site also offers helpful videos and analytical reports to help you discover which markets you should be trading in.

Trading Costs - Zero commission

Using the Micro and Advantage Plus accounts offers tight spreads with no commission. If you opt to use the Standard account, hedging is permitted, although this will be subject to fees, which are lower than some other brokers. There’s also a dedicated Stocks CFD Account, which gives you access to over 120 US shares, with instant execution and no commission.

Trading Conditions - Things to be aware of

FXTM warns that CFD trading carries a high degree of risk, which is why it’s best to make use of the demo accounts when starting out. FXTM provides all users with a margin calculator, which is a particularly useful tool for helping to manage margins on your Standard account. Traders only need a margin commencing from 3%, and leverage is higher than with traditional trading. There’s the potential for some big returns, but equally there’s also potential for big losses, so be sure you understand the concepts of CFD trading before accessing one of the real-money accounts on the FXTM website.

Product Summary - Ideal for experienced traders

CFD trading carries a high degree of risk, so it’s not recommended for everyone – particularly those traders who are risk averse. However, FXTM provides a wealth of information to guide new CFD traders through the trading maze, including a demo account which allows you to explore trading risk-free in the first instance. Once you’ve honed your skills, you have a choice of trading platforms and a broad range of CFDs to choose from, as well as helpful tools that encourage good decision making.

82/100
Rating
FXTM Highlights
  • A choice of trading accounts for all types of CFD traders
  • Helpful resources to further your knowledge
  • Try your CFD trading skills using a demo account
Go to FXTM

FXTM Review FAQ

❓ What is FXTM?

FXTM is a leading online trading platform, where you can trade in forex, CFDs, ETFS and more. Come and read our comprehensive FXTM review to find out whether this broker could be your new trading partner. We’ve got all the information you need to know, so come and check us out!

✋ Is FXTM safe?

When you sign up to an online trading platform you need to know that you’re in safe hands. That means checking that a broker is fully licensed and regulated, and that it offers a fair and legal trading experience to all its members. Come and read our in-depth FXTM review to find out everything you need to know, before committing to the sign-up process.

❗ Is FXTM reliable?

Whether you’re looking to trade in FXTM crypto, or you’re hoping to avoid any potential FXTM scams, we’ve got all the info you need to know. Come and check out our FXTM review to find out all about the broker, and discover whether it could be your new perfect trading partner.

Conclusion – These are the findings of our FXTM review

Now that we’re coming to the end of our FXTM review, you should have a reasonably good idea whether this is a broker that might be suitable for your needs. You can start your trading journey with one of the demo accounts, and make full use of the education section of the site to improve your knowledge and understanding of the markets.

Once you’re ready to trade for real there’s a choice of platforms, some of which are fee-free, making this a great option. Just be careful about the inactivity fees, and be prepared to pay a small charge for withdrawals, unless you’re using Neteller or Skrill. If you’re looking for a trading platform that offers the chance to trade in cryptocurrencies, be sure to check out our IronFX review and our XTB review too.

82/100
Rating
FXTM Forex
*****
Go to FXTM Forex
Highlights
  • Over 25 currency pairs available for forex trading
  • A choice of trading platforms and accounts
  • An extensive Help section, including live chat

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