FXTM (ForexTime) is a globally recognized forex and CFD broker known for its competitive trading conditions, diverse account types, and strong regulatory framework. Catering to both beginner and professional traders, FXTM offers a range of tools and educational resources to enhance the trading experience. In this review, we will analyze FXTM’s trading offerings, regulatory compliance, customer feedback, and overall reliability to help traders determine if this broker is the right choice for them.
1. Overview of FXTM
Founded in 2011, FXTM has grown to become one of the most reputable brokers in the forex industry. The broker provides access to forex, commodities, indices, stocks, cryptocurrencies, and ETFs, making it a versatile option for traders seeking diversification. FXTM is well-known for its fast execution speeds, tight spreads, and comprehensive educational materials.
2. Trading Accounts and Conditions
FXTM offers a variety of account types to suit different trading styles and experience levels:
- Micro Account: Designed for beginners, with a low minimum deposit and fixed spreads.
- Advantage Account: Offers raw spreads starting from 0.0 pips with a commission per trade.
- Advantage Plus Account: Commission-free trading with slightly wider spreads.
- Islamic Account: Swap-free accounts available for traders following Islamic finance principles.
FXTM provides leverage of up to 1:2000, depending on the regulatory entity and trader classification. The broker is also known for its fast order execution, making it an attractive choice for scalpers and day traders.
3. Trading Platforms
FXTM supports industry-leading trading platforms, including:
- MetaTrader 4 (MT4)
- MetaTrader 5 (MT5)
- FXTM Trader (Mobile trading app)
These platforms offer advanced charting tools, automated trading capabilities, and a user-friendly interface, catering to traders of all experience levels.
4. Customer Feedback and Reviews
FXTM generally receives positive reviews, though some minor issues have been reported.
Positive Feedback:
✔️ Multiple account types: Suitable for beginners and advanced traders.
✔️ Low trading costs: Tight spreads and low commissions.
✔️ Strong regulatory framework: Licensed by multiple financial authorities.
✔️ Fast trade execution: Ideal for scalpers and high-frequency traders.
✔️ Extensive educational resources: Webinars, market analysis, and trading guides.
✔️ Responsive customer support: Available in multiple languages.
Negative Feedback:
❌ Withdrawal fees: Some traders report additional fees on certain withdrawal methods.
❌ Leverage restrictions in some regions: Due to regulatory limitations.
❌ Limited asset selection for stock trading: Primarily focused on forex and CFDs.
5. Regulatory Status and Security
FXTM is a highly regulated broker, operating under multiple financial authorities, including:
- Financial Conduct Authority (FCA) – UK
- Cyprus Securities and Exchange Commission (CySEC)
- Financial Sector Conduct Authority (FSCA) – South Africa
- Mauritius Financial Services Commission (FSC)
Key security measures include:
- Segregated client funds: Trader funds are kept separate from company funds.
- Negative balance protection: Prevents traders from losing more than their initial investment.
- Strict compliance with financial regulations: Ensures transparency and fairness.
6. Pros and Cons of FXTM
Pros:
✔️ Well-regulated by multiple financial authorities.
✔️ Low spreads and competitive commissions.
✔️ Fast order execution for scalpers and day traders.
✔️ Wide selection of account types.
✔️ Excellent educational resources and market analysis tools.
✔️ Strong customer support in multiple languages.
Cons:
❌ Withdrawal fees on certain payment methods.
❌ Leverage restrictions for EU and UK clients.
❌ Limited stock trading options compared to other major brokers.
7. Conclusion: Is FXTM a Reliable Broker?
FXTM is a highly reputable and well-regulated broker, offering competitive trading conditions, diverse account options, and a strong emphasis on education and trader support. It is particularly well-suited for traders looking for fast execution speeds, tight spreads, and reliable customer service.
However, traders should be aware of potential withdrawal fees, leverage limitations in some regions, and a limited selection of stock CFDs. Despite these minor drawbacks, FXTM remains a top choice for forex and CFD traders worldwide.
Final Recommendation:
FXTM is an excellent option for traders seeking a secure, low-cost, and efficient trading environment. As always, it’s recommended to start with a demo account or small deposit to evaluate the broker’s services before committing significant funds.