FXTM Review: What is the most important factor to consider when choosing a Forex broker? This is another review of the Forex brokers. Help To Make Money takes a closer look at where you can deposit money and trade your money to gain profits safe and easily. Hopefully these reviews will make it easier for you to find a Forex broker that suits your needs.
Help To Make Money helps you to find the key factors to look for when choosing a Forex broker
Did you know that most developed countries regulate Forex trading? Find a broker that is properly regulated: One of the most important factors when choosing a Forex broker is to look at Regulation. Is your broker adequately capitalized? Your broker needs to keep your funds in secure and segregated accounts. It should also maintain fair dealing practices so that your trades will be executed at the current market rates. We recommend that you select a regulated broker with a clean regulatory record to benefit from these protections.
Yeah, and this is a good thing. However, the regulatory standards can vary greatly between countries. You may find information about the regulators on the brokers own website, but it is always smart to verify it yourself by checking the related regulators’ website.
The spreads are basically the fee you pay to open and close a trade. Spreads vary often with each currency pair and may be tighter for high volume pairs.
Many brokers will charge fees for withdrawals, deposits, wire transfer, credit card, inactivity, and account closing.
Review FXTM (Forextime Limited)
In this series we gonna review some of the best Forex brokers. Please let us know if there is anything we haven’t covered properly. We try our best to share our honest opinions so you can find a broker you can rely on. Here are some of the questions our readers have asked us.
How long has FXTM been on the market?
The company is 6 years old. FXTM started their business in 2012.
Where is FXTM located?
FXTM is located in Cyprus.
Is FXTM EU regulated?
FXTM Regulation Cyprus: FXTM is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 185/12.
FXTM Regulation South Africa: FXTM is licensed by the Financial Services Board (FSB) of South Africa with Financial Services Provider (FSP) license number 46614.
ForexTime UK also holds a fully operational division in London. (Registration no: 600475)
They are also registered in many countries. You can have a look here:
What kind of regulations do FXTM have?
– Yes, please see above. We can also mention that FXTM is registered in Market in Financial Instruments Directive (MiFID) and Investor Compensation Fund (ICF).
What kind of payment options do FXTM accept?
– Deposits and withdrawals – made simple: FXTM accepts a wide range of payment options to its clients. These include credit/debit cards, bank wire transfer, Neteller, Skrill, Alfa-Click, WebMoney, Western Union, Payza, Dotpay, Yandex Money, QIWI Wallet. They also allow Bitcoin. FXTM take no fees or commission for deposits, and it’s a great benefit.
What is the lowest amount I can start trading with?
Minimum initial deposit:
Smallest lot size: 0.01 lot
Leverage: From 1:1 to 1:500. Be very careful with this, as such should be considered very carefully before opting for it. One of the reasons for bad Forex reputation is that people over leverage and lose control of the their accounts
Spreads:You can trade with fixed and variable spreads, which are among the lowest in the industry, starting from just 0.1 on ECN accounts and 0.5 on Standard accounts.
How can I sign up?
Sign up on www.FXTM.com. It’s super quick and done in 5 minutes. FXTM is a brokerage company with 10 years of experience and a customer support team (open 24 hours). They are available on several other messengers like Whatsapp and Viber. FXTM offers convenient trading conditions. However, the company’s clients cannot open Islamic (Swap-free) accounts with zero swaps.
Which advantages does FXTM offer?
- Won Best Customer Service Global, Best FX Broker Asia, Best Online Forex Trading Company of the year Nigeria and Best Forex Broker of The Year – prestigious prizes all won in 2017
- They offer a wide range of options: 60 currency pairs, CFD’s, Spot metals and Indices, and over 180 Share CFDs
- One-to-one support in 16 languages
- Hi-tech Forex trading tools
- No hidden fees
- It features the Metatrader trading platform MT4 and MT5
- You can chat with AAAFx from Monday to Friday, 8am to 8pm, based on GMT+2
- You can win cool prizes in their exciting competitions. The top 10 contestants walk away with REAL CASH prizes from a $100000 prize pool.
- FXTM regularly holds different contests and campaigns for its clients and the annual prize fund is more than $500,000.
- You can get free education, you just need to register an account to access live webinars where their analysts look at the market on a regular basis
- Invest in Gold: FXTM has expanded its services through one of the world’s largest online gold investment service, BullionVault, to exclusively offer clients the option to buy, sell and store physical gold, or turn it into trading collateral. As an FXTM client, your gold will be stored in a high-security Swiss vault in Zurich, with an option to get it delivered to your door
Have you any experience with FXTM?
On the company’s website you can read various reviews on the quality of its services. Please leave your own comments if you have already worked with the broker.
Who is the best Forex broker? If you don’t need bonuses, but prefer a super friendly customer service and a EU- regulated broker, check our review of AAAFx here.
Disclaimer: Help To Make Money is not responsible for errors or incorrect information. Please check the broker’s website for correct information and updates before you sign up. Let’s make sure you read their own terms and conditions. However we would like to hear from you if you find any errors. We would be happy to edit any information that has changed recently.
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We have been chatting with FXTM several times and they have been very friendly and service minded. We really like that they dont charge any fees for deposits, and it is a very low fee 2£/3€ for withdrawing money. FXTM’s spreads seem to be the lowest, and that’s a great pro. Their free education programme also is a good reason to choose FXTM as your broker. We know they have their own copier service, but we would like to connect our Zulutrade account to them, and unfortunately they dont support that for the moment.