What is FXTM? (Forextime review)
The FXTM or Forex Time company launched in 2011 with its headquarters in Cyprus (Limassol) also authorized by Financial Conduct Authority and other regulators, been named as one of the world’s fastest growing and best forex brokers. As in a relatively short time the firm showed great and rapid growth within Europe and beyond through its focus on Africa and Asia regions.
The broker establishes its core on reliable trading conditions and detailed education and brings trading across the world with its accessible trading around the globe, regardless of the trader’s knowledge. However, the chain of FXTM offices also established around Europe, located in the UK and maintaining entity in South Africa.
- ForexTime Limited – authorized by CySEC (Cyprus) registration no. 185/12
- ForexTime Limited – authorized FSCA (South Africa) registration no. 46614
- ForexTime UK Limited – authorized by FCA (UK) registration no. 777911
- Exinity Limited – authorized by FSC (Mauritius) registration no. C113012295
|Minimum Trade Size:||0.01|
|Address:||Exinity Limited, 5th Floor, 355 NEX Tower, Rue du Savoir, Cybercity, Ebene 72201, Ebene 72201, Mauritius|
|Contact:||email@example.com, +44 20 3734 1025|
|Regulators:||CySEC # 185/12, FSC Mauritius #C113012295, FSCA #FSP No.46614, FCA #777911 / 600475|
|Trading platforms:||MT4, MT5, WebTrader|
|Cryptocurrencies:||(4) Bitcoin, Litecoin, Ethereum|
|CFD:||(190+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities|
|Minimum to Open Live:||$50|
|Deposit Methods:||Bank Wire, VISA, MasterCard, Alfa-Click, Bitcoin, CASHU, Dash, DixiPay, DusuPay, Ether/Ethereum, FasaPay, Globe Pay, Konnexone, Litecoin, Local Bank Transfers, Maestro, Neteller, Ngan Luong, PerfectMoney, Qiwi, Skrill, VLoad, Yandex Money|
Facts about FXTM:
- Founded in 2011
- Founder: Andrey Dashin
- Global broker
- Forex and CFD broker
- Available in more than 150 countries
Is FXTM regulated? – Regulation and safety for customers
Before trading with any broker, make sure that the broker is regulated. Regulation is a license gained by the broker that passed certain criteria in order to operate legitimately in the trading industry. Without this regulation, the broker is not authorized and is not legit. It is important for us as traders to protect our money and investments. This regulation will serve as your protection from scammers circulating online.
FXTM is regulated by top-tier regulators. It is regulated by the Financial Conduct Authority (FCA) in the UK with license number 777911, Cyprus Securities and Exchange Commission (CySEC) in EU with CIF license number 185/12, and Financial Sector Conduct Authority (FSCA) in other countries.
|FXTM legal entity||Investor Protection FXTM License Number|
|ForexTime UK Limited||Regulated by FCA (UK) registration no. 600475|
|ForexTime Limited||Authorized FSCA (South Africa) registration no. 46614|
|Authorized by Authorized by Cyprus Securities and Exchange Commission registration no. 185/12|
|Exinity Limited||Authorized by FSC (Mauritius) registration no. C113012295|
From the fast client approval to the general trading process, comprehensive learnings and available features, FXTM proves its high ranking among the traders’ community with more than 90% of positive feedbacks.
The numbers are actually confirmed by the large community of traders with about 750,000+ active accounts that growing, numerous attractive opportunities and gained vast awards for excellence in trading.
FXTM also proudly takes an active social role while supporting and sponsoring various world Sports alike Sahara Force India Formula 1 team and regularly reveals in the media.
How are you protected?
Since FXTM license means its compliance with all the strict regulatory requirements, trader’s investment considered to be safe, as the broker completely segregates funds from the operational funds of the FXTM while kept in leading and reputable EU banks.
In addition, FXTM is a member of the Investor Compensation Fund that compensates in case of the company insolvency, as well as protected by the negative balance protection and other requirements that are audited on a regular basis by the authority.
Despite the majority, the FXTM trading accounts are truly ensuring each client convenience by separate accounts for Forex trading and Invest Accounts. Then there is a further split to your preference of the trading transactions, instrument and the trading size, which all in all offers you 3 Account types: Micro, Advantage and Advantage Plus.
However, always make sure to verify under which entity you will trade as FXTM offering may be slightly different for Forextime Limited, ForexTime UK or Exinity Limited. In this FXTM review, we will cover Forextime offering in detail so you would understand conditions better.
What are the account types?
So now let’s get a closer look at FXTM Accounts which are divided into three options – Micro, Advantage and Advantage Plus
Micro Account – most accessible account offered by FXTM with low minimum deposit & instant execution, zero commission and spreads from 1.5 pips.
Advantage Account – cheapest account type offered by FXTM with average commission of $0.40 – $2 based on volume and spreads from 0.0.
Advantage Plus Account – partner account with zero commission (spread only), and spreads from 1.5 pips.
How do I open an FXTM account?
FXTM accepts clients from almost every world country, however there are might be some restrictions due to regulations alike implemented for residents of Japan, USA, etc.
So step by step process of opening requires you to follow the FXTM sign-in link where you will be guided through a quite simple process of opening step by step.
Opening an account step by step:
- Access FXTM Sign In page
- Enter your personal data First and Last Name, Country of residence, email, phone, etc.
- Answer online questioner about your trading knowledge and expectations
- Select the account type
- Verify your account by upload of your identity confirmation. These may include a residential proof, copy of your ID, bank statement etc.
- Once an account is activated and proved you may follow with the money deposit
How long does it take to withdraw from FXTM?
From the moment you submit and confirm the request to withdraw money from your account the accounting department of FXTM typically processed and confirm withdrawal within 2 business days.
Yet, you should always consult with customer service and confirm data, as various jurisdictions may apply slightly different rules. Also, give it some days for the payment provider to process the transaction that also depending on particular international or provider rules.
FXTM withdrawal fee applied to some of the payment methods, while others may be provided with 0% commission.
Since the variety of payment methods truly widely presented, the withdrawal fee varies from one option to another. As an example, Credit Cards withdrawal features 3$ fee, while Bank Transfer will cost 30$, and WebMoney will charge 2% above the requested amount. However, these withdrawal fees still considered to be on a low level comparing to other industry offerings.