FXTM Review

Commission range Low
Trading Portfolio CFD, Crypto, Forex, Fx
Regulation Fully regulated by several financial authorities
Trading Platform & Apps Mt4, Mt5, Webtrader, Android, IOS
Education Quality FAQ, Video, webinar
Category:

ForexTime or FXTM is a regulated online broker that offers great trading platform and allows you to follow other traders and focus on Copy Trading. ON the negative side, it charges high stock CFD fees. There are small fees for inactivity and withdrawal too.

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You will get: Low-to-Average CFD Trading Fees Provides Trading Ideas Offers Negative balance protection Well Regulated in Top-tier Financial Markets
F.T.

FXTM Review At a Glance

Forex Time is a regulated broker

8Expert Score
FXTM Review
FXTM Review
ForexTime or FXTM is a regulated online broker that offers great trading platform and allows you to follow other traders and focus on Copy Trading. ON the negative side, it charges high stock CFD fees. There are small fees for inactivity and withdrawal too.
Trading Platform
7
Commission
8
Research & Tools
7
Education
7
Investor Protection
9
Customer Support
8
PROS
  • Low-to-Average CFD Trading Fees
  • Provides Trading Ideas
  • Offers Negative balance protection
  • Well Regulated in Top-tier Financial Markets
CONS
  • It does not offer fundamental data
  • Portfolio is limited mostly to CFD and Forex
  • Comparatively High Minimum Deposit

What we've covered in this review:
10Expert Score
Regulation Score

The broker is fully regulated. We have also checked it against scam and fraud.

COPY.

What is the Best Alternative to eToro?

FXTM, because it is a copy trading broker

Forex Time started offering trading service since 2011 in Cyprus and ever since branded the brokerage company as an international trusted online broker. The firm focuses mostly on offering Forex and Stock index CFDs and operates as no commission 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 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, which is basically FXTM copy trading platform.

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

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8Expert Score
Trading Fees Score

$5 per month after 3 months of inactivity.

$:

How Much Is FXTM Fees?

FXTM offers 20000 Euro investor protection

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

Deposit and withdrawal process in FXTM is very straight forward. 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 European. They also hold your money in segregated client bank account at regulated banks and do not merge your money and assets. So, this adds to their safety level and make them even more safe brokers.

Commission on ECN account holders that use MetaTrader 4 account 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, 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 afterwards.

* 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

Vs.

What Are FXTM Alternatives?

FXTM, eToro, XM, XTB

Benchmark FeeFXTMXMXTB
EURUSD$17.8$17.1$15
GBPUSD$15.5$13.8$11.1
AUDUSD$12.2$13.9$10
EURCHF$4.4$9.1$6.6
EURGBP$11.5$12.2$9.9

CFD FeesFXTMXMXTB
S&P 500 index CFD fee$1.8$2.4$2.0
Europe 50 index CFD fee$2.5$2.4$2.2
Apple CFD fee$17$3.4$17.9

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.

8.5Expert Score
Trading App Score

When trading with FXTM, you can enjoy the power of MT4.

MT5:

Is Meta Trader 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 an sneak. preview:

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 customise 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 MyFXTM dashboard and select ‘Trading Signals’. The Platform allows you to view the full history on a specific chart. You just need to enable chart auto-scroll feature.

Online traders from other countries can schoose the best European brokers, best Middle East brokers, and best brokers in Asis from the list below:

أفضل وسطاء العملات الأجنبية in Arabic, beste forex broker in German, broker cfd terbaik di indonesia in Indonesian, migliori broker cfd in Italian, melhores corretoras de forex Portuguese in brazil, and finally bästa cfd-mäklare i Sverige in Swedish.

ZERO:

What Type of Trading Account Should You Open?

FXTM offers six types of account

What broker should I open account for copy trading?

At first let’s have a look at the 6 types of accounts that are available at FXTM. By the way, Except UK, you can also invest on 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 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).

When it comes to forex trading, brokers must provide great customer support. When we looked at FXTM quality of. service, overall, FXTM customer support team respond 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.

7Expert Score
Trading Instruments

Most of trading instruments and products are CFDs. The portfolio is not that comprehensive.

P:

What Forex Products FXTM Offer?

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
 
 
9Expert Score
Tools & Education Score

Although the minimum deposit seems high, the tools & materials are fair and good for beginners

MT5:

How Good is FXTM Research Tools & Education?

FXTM charting is very easy to use

How Good is AvaTrade Analysis, Research Tools & Education?

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

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

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

Looking for training materials for beginners and want to learn how to trade? Visiting our trading blog can greatly help as we have plenty of resources to begin with. (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 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.

Not only 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 is fine too, you’d be able to analyse your trends with 37 technical indicators, including fibonacci retracemen

V:

Verdict & Conclusion

Is FXTM a good copy trading broker?
4.5/5

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.

FXTM Review
Deal
3 months ago

FXTM Review

ForexTime or FXTM is a regulated online broker that offers great trading platform and allows you to follow other traders and focus on Copy Trading. ON the negative side, it charges high stock CFD fees. There are small fees for inactivity and withdrawal too.

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)

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.

The minimum deposit is $500.

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

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