FXTM Review

Written By: Ehsan Jahandarpour

FXTM Review At a Glance

ForexTime is a regulated broker

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Forex Time started offering a trading service in 2011 in Cyprus and branded the brokerage company as an internationally trusted online broker. The firm focuses mostly on offering Forex and Stock index CFDs, operates as commission-free broker, and charges no maintenance fees.

Although FXTM is not publicly listed on any stock exchange, the company maintains a good reputation among traders and is called a safe broker. In fact, FXTM is well regulated in the majority of jurisdictions, including:

  • Cyprus Securities and Exchange Commission (CySEC)
  • Financial Services Commission of Mauritius (FSCA)
  • The Financial Conduct Authority (FCA)

Apart from offering trading services, FXTM allows you to find thousands of experienced traders with FXTM Invest, a basically FXTM copy trading platform.

The portfolio of products and services that FXTM offers are mainly around Forex, CFD, Crypto. We have analyzed over 31 Tier-1 online brokers & online trading platforms and rated FXTM as an option for:

How Much Is FXTM Fees?

FXTM offers 20000 Euro investor protection

We receive these questions monthly:
“Is FXTM a good online broker for CFD?”,
“How much are FXTM fees?”

The deposit and withdrawal process in FXTM is very straightforward. You won’t be charged any fee for deposit Visa, Mastercard, and most of their payment gateways, but there are small fees on withdrawal. Additionally, your withdrawal might take up to 3 days if you choose wire transfer.

FXTM offers investor protection. The protection amount is £85,000 for UK residents and €20,000 for Europeans. They also hold your money in a segregated client bank account at regulated banks and do not merge your money and assets. So, this adds to their safety level and makes them even safer brokers.

fxtm fees

Commission on ECN account holders that use MetaTrader 4 brokers is calculated when a position is opened. Here is an example for you to better understand the commissions:

Let’s say you have a USD account with less than $3000 & below 100M trading volume. Your commission per lot looks like this

EURUSD: (1 * 100,000 * 1.21892) / 1,000,000 * 20 * 2 = 4.88 USD
AUDCAD: (1 * 100,000 * 0.97969) / 1,000,000 * 20 * 2 = 3.92 CAD / 1.30231 = 3.01 USD
XAUUSD: (1 * 100 * 1,323.25) / 1,000,000 * 20 * 2  = 5.29 USD
WSt30m: (1 * 10 * 24,182) / 1,000,000 * 20 * 2 = 9.67 USD
STOX50: (1 * 10 * 3,443.4) / 1,000,000 * 20 * 2 = 1.38 EUR * 1.15786 = 1.60 USD

The fees for S&P 500 CFD, Europe 50 CFD trading, EUR USD are built into spread.

✓ For S&P 500 CFD the fee is 1.4 average spread fee, which is considered to be low.
✓ For Europe 50 CFD the fee is 3.3 average spread fee, which is considered to be low.
✕ For EURUSD the fee is 0.6 pips average spread fee, which is considered to be almost high.
✓ $5 per month after 3 months of inactivity

To help you choose the best forex broker, we will compare these top three brokerage companies side by side: FXTM, XM Review, and XTB Review.

In this comparison case, you make a typical trade which means buying a leveraged position, holding it for 1 week & only sell it afterward.

* Volume: a $2,000 position for:
1) The stock Index
2) CFD
3) Forex.

The leverage in these scenarios is:
• 20:1 stock index CFDs
• 5:1 CFD
• 30:1 forex

What Are FXTM Alternatives?

FXTM, eToro, XM, XTB

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FXTM accepts traders from most countries and allows you to trade Forex or CFD. If you want to follow other experienced traders, then you can use their copy trade platform.

Is MetaTrader Good for Beginners?​

FXTM is a copy trading broker

The latest news about FXTM is about launching their new trading app called: FXTM Trader. It looks easy to use and enables you to choose from 250+ instruments.

Professional forex traders don’t just use the tools; they craft a trading plan and asses it with forex trading indicators because having access to trading signals and trading tools can significantly impact your trading performance. FXTM trading platform (Especially MT4) offers you the following tools:

  • Orders Indicator
  • Pip Value Calculator
  • Pivots SR Levels
  • Spread Indicator
  • Day Bar Info Indicator

Here is a sneak. Preview:

fxtm platform sm

Since FXTM uses MT4 & MT5,  you can easily use Expert Advisors or EAs. Since they use MetaTrader, it allows you to use its charting features or even fully customize your reports or change the default language to your preferred language.

If you are interested in trading signals, you will find them when you log in to the MyFXTM dashboard and select ‘Trading Signals.’ The Platform allows you to view the full history on a specific chart. You need to enable the chart auto-scroll feature.

What Type of Trading Account Does FXTM Offer?

FXTM offers six types of account

What broker should I open account for copy trading?

At first, let’s look at the 6 types of accounts available at FXTM. By the way, Except UK, you can also invest in social trading services.

FXTM trading accounts and their respective minimum deposits are as follows:

  • Standard: 100 $/€/£ ₦20,000
  • Cent: 5 $/€/£ ₦1,000
  • Shares: 100 $/€/£ ₦20,000
  • ECN: 500 $/€/£ ₦20,000
  • ECN Zero: 200 $/€/£ ₦20,000
  • FXTM Pro: 25,000 $/€/£ ₦5,000.000
  • Investment account: 100 $/€/£

The commission for ECN accounts is lower if you keep a higher balance in your account or trade more.
You can expect a very easy, smooth, and professional process to open your account with FXTM.

To open your account, you need an email address or a social platform login. Normally, your live account will be ready in 1 day.
P.S. You can immediately use your demo account.

However, if you decide to move forward as a trader and work with real money and real shares or trades, get ready to provide your passport or ID along with proof of residency (something like a utility bill or bank statement).

fxtm accounts

When it comes to forex trading, brokers must provide great customer support when looking at FXTM quality. Service, overall, the FXTM customer support team responds fast via email and live chat (We did not like the chat service as their software does not respond as fast as it should be).

By the way, support is limited to weekdays (GMT+3 during Daylight Saving Time) because there is no 24/7 support process.

What can you trade with FXTM?

Should I Trade ETF, Forex, or CFD?​

Trading instruments that you can choose to trade with FXTM trading App are:

  • Forex: Major, Minor & Exotic currency pairs
  • Gold and silver
  • 180 major company shares
  • CFD Commodities, including UK, US
  • Crypto including Bitcoin, Ethereum and Litecoin


 Is FXTM Research Tools Good?​

How Good is AvaTrade Analysis, Research Tools & Education?​

When it comes to research, Forextime.com offers a fair deal of tools such as the Pivot Points Strategy to determine price direction. They Also offer updated news feeds that are available to everyone. Unless you use their desktop platform, you can not set alerts and notifications on Forex time platforms.

Detailed features that you can find on the Market Analysis topic are:

  • Live economic calendar.
  • Regular Newsfeed
  • Forex News
  • Market updates (every Tuesday)
  • Quarterly market forecast
  • Annual market overview.

Looking for training materials for beginners and want to know more about finance blog? Visiting our blog or install best stock investing apps on your ios or android to learn more about stock trading. (We do not offer investment advice and guarantees).

Does FXTM offer Fundamental Data? No.

Does FXTM offer Trading Ideas? Yes.

Besides, FXTM education comes in the forms of:

  • Webinars
  • Articles
  • Video and Trading guide for beginners
  • Virtual seminars
  • Live Q&A that you can use and even ask their trading experts to answer your questions.

You will get a demo account; you will also have access to in-depth articles and lots of videos (about platform and trading).

The charting tools are available when you choose to trade with MetaTrader 4. It does not look that modern, though.

Technical analysis tools are fine, too; you’d be able to analyze your trends with 37 technical indicators, including Fibonacci retracement.

Verdict & Conclusion

Is FXTM a good copy trading broker?

Can You make money with FXTM?

All question about regulation and whether FXTM is scam or regulated is clearly answered here, and it is considered a safe broker to trade with.

As one of the best CFD brokers, it offers modern trading app and desktop platform that run on MT4 and MetaTrader 5. With over 160 growth Stocks CFDs and 48 currency pairs, the main trading opportunities that you find on FXTM are Forex and CFD.

When you log in to your MyFXTM dashboard, it allows you to focus on Copy Trading and follow the other expert FX traders.

ON the negative side, it charges high stock CFD fees. There are small fees for inactivity and withdrawal too.

Is FXTM Regulated?

Forextime.com is governed by the following financial authorities:

  • Cyprus Securities and Exchange Commission (CySEC)
  • Financial Services Commission of Mauritius (FSCA)
  • The Financial Conduct Authority (FCA)

How to open my trading account?

Follow these steps to learn how to open trading account on FXCM:

1. Get ready with your email address
2. Select the country of residency.
3. Provide demographic data
4. Choose your preferred online trading platform
5. Select your account type & base currency.
6. Explain your trading experience and provide employment history
7. Provide identity and residency proof for activation.

What is the minimum deposit for FXTM?

The minimum deposit is $500.

What are FXTM Pros & Cons.

  • Low-to-Average CFD Trading Fees
  • Provides Trading Ideas
  • Offers Negative balance protection
  • Well Regulated in Top-tier Financial Markets.

FXTM Alternatives

Fusion Markets
IG Markets
IC Markets