FXTM (Forex Time) Review 2020

Overall rating

Overall rating

9.1

/10

FXTM (Forex Time) Review 2020

Davis J.
Robertson A.
September 2020
Analysis of the Main Features of the Forex Broker

9.1

Overall rating

9.1

/10

Execution of orders

9

/10

Investment instruments

8.8

/10

Withdrawal speed

9.1

/10

Customer Support work

9.4

/10

Variety of instruments

9.2

/10

Trading platform

5

Position
in rating

9.1

/10

Overall rating

Trading terminals:

MetaTrader4 MetaTrader5
5

Position in rating

9.1/10
Overall rating

Trading terminals:

MetaTrader4 MetaTrader5

Summary of FXTM Trading Company

Broker FXTM (pronounced "ForexTime") started in 2011. It provides an opportunity to make a profit through active trading or investment programs. The company is regulated by CySEC (Cyprus Securities and Exchange Commission), South African FSCA (Financial Sector Supervision Authority), UK FCA (Financial Conduct Authority), and FSC (Mauritius Financial Supervisory Commission). The broker has received many awards, including "Best Trading Conditions" (2018, 2019) and "Most Innovative Broker" (2018).

Attention!

In order to cooperate with Traders Union, a trader needs to open a trading account with FXTM via a referral link or use the instructions for connecting an already opened account to receive rebates.

👍 Advantages of trading with FXTM:

  • a wide range of trading accounts;
  • a large number of training materials;
  • the ability to use automated programs in trading.

👎 Disadvantages of FXTM:

  • withdrawal of funds are periodically delayed;
  • for investment, only copy trading is offered;
  • Customer Support could be better, speedier;
  • the broker is closed on Saturday and Sunday;
  • There are no PAMM accounts or it malfunctions.

Overall

ForexTime is a progressive broker that actively uses innovative technologies to provide optimal trading conditions for experienced traders.

Visit FXTM

FXTM Latest Comments for 2020

10
0
5

The reviews by customers of the FXTM indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of FXTM published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

I recently began trading here, and so far everything suits me. There were no problems with replenishing the account. FXTM provides a variety of deposit and withdrawal options. Replenishments are instant, except for cryptocurrency, where you have to wait up to 24 hours. There are no commissions for depositing funds, which makes me happy. Withdrawing money is also fast. ForexTime promises to send money to the card within 24 hours, but in reality, everything happens faster than that. On Skrill, my money comes instantly. I didn't like the fact that when you deposit/withdraw funds by bank transfer you need to wait from 3 to 5 business days.

FXTM provides standard trading platforms MetaTrader 4 and MetaTrader 5. They work without freezing. Downloading and installing is optional. It is very convenient when you are not logging in from your own devices. Leverage is from 1:1,000 on a cent account and order execution is fast. Spreads are very narrow from 0.1 for ECN accounts to 0.5 for Standard accounts.

Initially, I traded on a cent account, but the constantly widening spread was eating up all the meager profit. I had to switch to Standard. I didn’t leave FXTM because the conditions here were generally okay. The only caveat is that the cent account seems incomplete to me. But on a standard account, there were no troubles at all. I eventually worked on MT4, although there is an opportunity to migrate up to MT5. I like the old version of MetaTrader 4. The Standard account has the same floating spread as the cent account. The leverage is very high - from 1:2,000. There are no hidden fees. And as for withdrawals, everything is smooth so far, there have been no delays.

I have been trading on ForexTime for a couple of months now. I have not made very much profit but managed to withdraw about 500 euros during that time. Now I'm thinking of opening an investment account because I'm tired of constantly monitoring the market myself. Some strategic managers at FXTM are aggressive traders and some make 30% profit. Naturally, they take a lot, but they do not guarantee you any profit. It is good if you have access to a detailed overview of statistics. Therefore, it is easy to calculate the return on investment, apply your trading strategy and style, and benefit from the experience of a strategic manager. Customer support is good and quick. My questions have always been answered.

In addition to the standard trading in currency pairs, FXTM offers the opportunity to trade shares of the world's largest companies. There is an investment program of passive income which is similar to PAMM accounts. But I was more attracted by the affiliate program. The broker promises to pay $50 for each attracted person. Now I'll check out how everything works and what it is all about, and then I can attract friends. So far, I work with a USD cent account, which is also offered in euros. The spread is from 0.1 pips, and floats. A minimum deposit is from $10. I use MetaTrader 4 from my smartphone, it's more convenient for me. The site also has training materials, but there are no abstruse concepts, so it’s perfect for beginners.

ForexTime has standard conditions that do not differ much from its competitors. The account is replenished in a couple of hours, the withdrawal to electronic wallets is instant. Order execution is fast. I did not notice any requotes or slippages. Before I started trading, I checked all the functions on a demo account. I work with MetaTrader 5 from my iPhone. There are about 20 timeframes for iOS, 38 technical indicators, and a full set of trading orders. The work is complete and there are sufficient tools. As for the support service, there are several ways to contact it. I am using Telegram or Viber. Some support staff are not very polite sometimes.

I've been looking for a stock CFD trading platform for a long time. I recently chose FXTM. It has a dedicated stock CFD account that uses MT4. Shares of about 160 US and European companies with the maximum market capitalization may be traded. The execution of orders is instant, and the spread is from 0.1 pips. The minimum trading lots is 0.01. The maximum volume of a transaction is 10 and the maximum number of orders of any kind is 100. The spread floats. I opened a maximum of 3-4 orders simultaneously and so far everything is fine. Quotes are up-to-date. I compared them against other resources, so I am confident that they are accurate. We'll see what happens next, but so far everything suits me.

2 3 >

Video Review of FXTM

Expert Review of FXTM

The Traders Union has cooperated with FXTM for several years and during this time the broker has shown itself to be a partner who faithfully fulfills its obligations and Trading conditions in the company are optimal. Clients are presented with various trading accounts designed for both novice and professional traders. For investors, the broker rates its managers based on various factors including their risk levels.

ForexTime claims to cooperate with both newcomers to the foreign exchange market and professionals who create their own trading strategies. So far there have been no serious complaints about the company's work. All traders' questions are promptly answered by the FXTM support team.

The site’s interface allows traders to quickly assess all the broker's capabilities and its trading conditions are suitable for active trading and investment offers. The company has several advantages that make it competitive, however, some nuisances like delayed withdrawals and too few investment programs do not allow the broker to take a leading position in the Traders Union rating.

Antony Robertson

Traders Union
Financial Analyst

Analysis of the Main Features of the Forex Broker

9.1

Overall rating

9.1

/10

Execution of orders

9

/10

Investment instruments

8.8

/10

Withdrawal speed

9.1

/10

Customer Support work

9.4

/10

Variety of instruments

9.2

/10

Trading platform

Dynamics of the Popularity of FXTM
in 2020 among the Users of the Traders Union

Dynamics of the Popularity of FXTMin 2020 among the Users of the Traders Union

Investment Programs, Available Markets and Products of the Broker

The broker is focused on cooperation with users who are engaged in both active and passive trading. For the latter, the company provides a service for copying transactions, which allows you to receive income without being a trading guru. The broker rates its managers based on their profitability, risk profile, and trading strategy.

FXTM (Forex Time) Invest

To get started and make profits investors need only to register, choose a trader, and copy his transactions. The user can make decisions based on the profitability of trading with a specific manager and, if necessary, select another manager. Investors pay a commission to managers only for successful transactions.

Features of the FXTM Invest trade copy service:

  • the ability to choose a trader based on your goals, trading style, desired profitability, and risk level; there is a special filter included in the rating system;

  • copying transactions of several managers to minimize risk and select an effective strategy;

  • the managers' ratings are automatically updated and show statistics on several parameters.

The service enables passive earnings not only for investors but also for professional traders. In ForexTime, a trader can become a manager, whose trades can then be copied by investors, and thereby receive additional income for his work.

Important!

If you are a large investor and plan on investments over $ 10,000, contact us at [email protected] or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.

FXTM affiliate program

  • Refer a friend. For each new invited client, the partner receives $50.

Any trader who has an account with FXTM can become a broker's partner. In the personal account of each user, there is an individual referral link, with the help of which you can attract new clients to the broker. If all conditions are met, the FXTM partner will receive a financial reward for the trading activity of each attracted client.

Rebate and Discount Programs of the Traders Union for FXTM

Cooperation with the Traders Union rebate service allows FXTM clients to reduce trading costs. To do this, you just need to register on the Traders Union website, open an account with a broker through the Union's referral link and receive a refund (rebate) on each spread for all completed trading operations. Clients can also use the FXTM Invest trade copy service to receive additional rebates.

Information

Traders Union remuneration for 1 lot: ECN Zero - $10, ECN - 30% of the commission, CENT - $5, STDR - $8, MT5 - 20%. The clients of the Union receive 80% of the indicated amounts.

Example. You are trading 1 lot per day. 1 lot for the EUR/USD pair is 100,000 units of the base currency. The pip value for 1 lot is $10. The spread is 1.5 pips. If you were working directly with FXTM, your spread cost per day would be $15. As for the ECN Zero account type, Traders Union receives $10 per lot from the broker, 80% is transferred to the trader. The compensation will be 10x8 = $8. Real costs for a trader working with Traders Union will be $7.

Try it!  You’ll like this!

Trading Conditions for FXTM Users

ForexTime is actively working to create favorable trading conditions for traders. The company has $10 minimum deposit for novices on a cent account. All types of accounts can trade in micro lots, and the leverage varies from 1:3 to 1:2000, depending on the type of account and trading assets. Stop-outs start at 20% and ends at 50%.

$10

Minimum
deposit

Up to 1:2000

Leverage

24/5

Support

MetaTrader4 MetaTrader5
Trading platform: MetaTrader 4, MetaTrader 5
Accounts: Standard, Cent, ECN, ECN Zero, FXTM Pro, account for trading CFDs on shares, Demo
Account currency: USD, EUR, GBP, NGN
Replenishment / Withdrawal: Visa and MasterCard, electronic payment systems, bank transfers
Minimum deposit: $10
Leverage: Up to 1:2000
PAMM-accounts: No
Min Order: 0.01
Spread: From 0 pips
Instruments: Currency pairs, precious metals, CFDs on stocks, commodities, indices, and cryptocurrencies
Margin call/Stop Out: 40-80% / 20-50%
Liquidity provider: -
Mobile trading: Yes
Affiliate program: Yes
Orders execution: Instant execution, Market execution
Trading features: Stock trading
Contests and bonuses: Yes

Comparison of FXTM with other Brokers

FXTM FxPro XM Group Admiral Markets UK AvaTrade
Trading
platform
MT4, MT5, MobileTrading, WebTrader MT4, MobileTrading, MT5, cTrader MT4, MT5, MobileTrading MT4, MT5, iPhone, iPad, Android, MT4 Supreme Edition MT4, MobileTrading, Zulu Trader, Mirror Trader, AvaTrader, AVA Option
Min deposit $1 $100 $5 $200 $100
Leverage From 1:1
to 1:1000
From 1:1
to 1:500
From 1:1
to 1:888
From 1:25
to 1:500
From 1:200
to 1:400
Trust management No No No No No
Accrual of % on the balance No No No No No
Spread From 0 points From 1 point From 1 point From 0 points From 0 points
Level of margin call
/ stop out
40%  /  20% 25%  /  20% 50%  /  20% 100%  /  30% 25%  /  10%
Execution of orders Market Execution, Instant Execution Market Execution, Instant Execution Market Execution Market Execution Instant Execution
No deposit bonus No No $30 No No
Cent accounts Yes No Yes No Yes

Broker comparison table of trading instruments

FXTM FxPro XM Group Admiral Markets UK AvaTrade
Forex Yes Yes Yes Yes Yes
Metalls No Yes Yes Yes Yes
Crypto Yes No No Yes Yes
CFD Yes Yes Yes Yes Yes
indexes Yes Yes Yes Yes Yes
Stock Yes No Yes Yes Yes
ETF No Yes No Yes Yes
Options No Yes No No Yes

FXTM Commissions & Fees

Information

Trading conditions of ForexTime were analyzed by Traders Union specialists for the presence of trading and non-trading commissions. There are no hidden fees in the company, no fee is charged for replenishing a trading account, and the withdrawal commission is set by payment systems and ranges from 0.5% of the withdrawal amount to 30 euros. For trading on an ECN account, a trader is charged a commission of $2 for each lot.

Account type Spread (minimum value) Withdrawal commission
Standard $13 Depends on the payment system
Cent $1.5 Depends on the payment system
To trade CFDs on stocks $1 Depends on the payment system
ECN $2 Depends on the payment system
ECN Zero $1.5 Depends on the payment system
FXTM Pro $0 Depends on the payment system

There is a fixed swap commission for transferring orders to the next day. We have compared FXTM's trading commissions to those of competing companies and brokers were assigned low, medium, or high commission levels.

Broker Average commission Level
FXTM $5 Low
FxPro $13.2 High
IG Markets $6 Medium
FxPro $13.2 High
IG Markets $6 Medium
FXTM
$5
FxPro
$13.2
IG Markets
$6
FxPro
$13.2
IG Markets
$6
Conclusion

FXTM offers clients a low level of commission fees; and withdrawal fees vary depending on which payment system the trader uses.

Detailed Review of FXTM (Forex Time)

FXTM provides services in 150 countries. One of the broker's priorities is the use of innovative technologies to increase the speed of order execution. Traders can trade currency pairs, precious metals, as well as CFDs on stocks, indices, and cryptocurrencies.

A few figures about FXTM that will be of interest to traders choosing a broker:

  • more than 9 years actively working in the Forex market;

  • serves 150 countries;

  • has over 2 million customers;

  • minimum deposit starting from $10;

  • more than 25 international awards.

  • 84% of withdrawal requests are processed within 5 minutes.

FXTM is a broker for traders with different trading strategies and investors

ForexTime is actively working to provide clients with optimal trading conditions and quality support. Traders are offered several types of accounts: cent (for the novice), classic and professional. Standard and cent accounts assume instant execution of orders. The average speed of execution of transactions in the company is 0.1 seconds.

The broker offers classic MetaTrader 4 and MetaTrader 5 as trading terminals. Both platforms are available for mobile devices, which allows traders to trade using their most convenient device. 

FXTM useful services: 

  • economic calendar;

  • news feed from FXStreet;

  • FXTM trading signals;

  • Currency converter;

  • MT4 indicators;

  • Forex trading with VPS.

Advantages:

1

large leverage;

2

automatic trading is allowed;

3

large selection of trading accounts;

4

customer funds are held in segregated accounts;

5

many educational materials in the open-access portal;

6

multilingual personal managers;

7

ability to use trading signals.

The FXTM broker does not restrict traders in choosing a trading strategy, but standard account types have restrictions on the maximum number of open and pending transactions.

How to Start Making Profits — Guide for Traders

There are several types of accounts available in ForexTime that are suitable for both professionals and beginners in the foreign exchange market. Minimum deposit, leverage, trading assets, margin call and stop out levels, and the type of order execution differ for the various accounts.

Account Type
Description
Standard
accounts are classic accounts suitable for both novice and experienced market participants. The minimum deposit is $100, the leverage varies up to 1:2,000, the spread starts from 1.3 pips, and orders are instantly executed;
Cent
accounts are most suitable for the novice or experienced traders testing a new trading strategy. The minimum deposit is $10 and the leverage is fixed from 1:25 to 1:1,000 for Forex assets and from 1:25 to 1:500 for trading metals. The spread is from 1.5 pips. Orders are executed instantly;
Stock CFD
accounts are for experienced traders who prefer to trade or invest in stocks. To open an account, you need to deposit at least $100, the leverage is fixed. For trading US stocks it reaches 1:10 and for trading EU stocks it reaches 1:3. The spread starts from 0.1 pips and orders are executed instantly;
ECN
accounts are suitable for traders at any experience level. The minimum deposit is $500, the leverage floats up to 1:2,000. The spread starts from 0.1 pips, and a commission of $2 is charged for each trading lot. Orders are executed on the market;
ECN Zero
is an account for experienced traders. To start trading, you need to deposit from $200, while the leverage will be up to 1:2,000, and the spread size will be from 1.5 pips. There is no commission for lots, and orders are executed on the market. The user connects to the FXTM Invest system, and other traders can copy his transactions;
FXTM Pro
is an account for professionals. The minimum deposit is from $25,000 and the leverage varies from 1:25 to 1:200, while the spread starts from 0 pips. There is no commission for lots. Orders are executed on the market. 

All trading accounts, except FXTM Pro and the account for trading CFDs on stocks, are available in the demo version which helps the company's client test the trading conditions on the site.

ForexTime is a company focused on cooperation with different traders, regardless of their experience in currency trading and preferred trading strategies.

Bonuses Paid by the Broker

FXTM Loyalty program

The FXTM Loyalty program gives traders with any type of account the opportunity to receive a cashback of up to $5 for completed transactions. The program assumes 5 levels of loyalty and at each level the financial reward increases. The earned funds are credited to the client's account every week, and they can be used for trading or be withdrawn.

FXTM (Forex Time) Review - Loyalty Program
FXTM (Forex Time) Review - Loyalty Program

Bonus from Traders Union.

The Traders Union rebate service will help you save on trading. You just need to go through a short registration on the Traders Union website, open an account with FXTM using a referral link, and actively trade to receive a rebate in the form of a partial return of the spread for all completed transactions, even for unprofitable ones. In case you already have an open account with ForexTime, you can use our instructions and link your existing trading account to the Traders Union service.

Investment Education Online

Information

This broker provides its clients with educational materials that will help novice traders to better understand foreign exchange trading and help professionals to improve their skills.

Information available in the Analysis and Education section
Unavailable information at FXTM site
Digital books
Educational podcasts
Forex seminars
 
Forex webinars
 
Glossary of terms
 
Beginner's guide
 
Video tutorials
 
Tutorial articles
 

To combine the theories with practice, we recommend using a demo account.

Security (Investors’ Protection)

Information

FXTM is registered with the UK Financial Conduct Authority (FCA) under number 600475, and the CySEC (185/12) and South African FSCA (46614) which are Forex regulators. The broker is also regulated by the Financial Services Commission of the Republic of Mauritius (FSC) (C113012295).

A broker that is licensed demonstrates that it is reliable since the regulatory authorities closely monitor the broker’s conduct. Non-compliance with their requirements leads to the cancellation of their license(s). The safety of traders' capital is ensured thanks to mandatorily segregated accounts, and the international Financial Commission is in charge of protecting the rights of clients.

👍 Advantages

  • Client funds are held in segregated accounts
  • The presence of four bodies regulating the activities of the broker
  • All documents are publicly available on the broker's website

👎 Disadvantages

  • The regulator does not consider small claims by private traders 

Withdrawal Options and Fees

  • To withdraw funds, you must submit an application, which is processed by the financial department from 6 to 20 hours (GMT + 2, during the summer - GMT + 3). Withdrawal fees are charged depending on the payment system the trader uses.

  • Bank cards (Maestro, Visa, MasterCard), electronic systems (Skrill, Crypto, VLOAD, TC Pay wallet, Neteller, WebMoney, Perfect Money, Bitcoin) and bank transfer are available among the withdrawal methods.

  • Withdrawals are made within 24 hours for all payment systems, except Crypto and Bitcoin, for which amounts are credited up to 48 hours.

  • Among the currencies for withdrawing and replenishing an account are USD, EUR, GBP, PLN, CZK, BTC, LTC, ETH, DASH, AED, INR, NGN.

  • To withdraw earnings, a trader needs to verify his account, which may take a while and involve presenting various documents.

Customers’ Support

Information

To solve various questions or problems, the company's customers can contact the support service, which works around the clock from Monday to Friday.

👍 Advantages

  • Providing customer support in various languages
  • A large variety of communication methods
  • Opportunity to request a callback

👎 Disadvantages

  • Customer support does not work on weekends

Communication with the support service is by:

  • Skype;

  • messages to the online chat on the broker's website;

  • email;

  • phone;

  • messages in Viber, Telegram, Facebook Messenger, or WhatsApp;

  • callback function.

You can also contact the broker directly from your Personal account.

Contacts

Registration address Exinity Limited, 5th Floor, 355 NEX Tower, Rue du Savoir, Cybercity, Ebene 72201, Mauritius
Official site
Contacts

Review of the Personal Cabinet of FXTM (Forex Time)

To start trading with FXTM and receive a spread rebate from Traders Union for completed trades, follow these steps:

1

Log in or create a personal account on the Traders Union website. Use the referral link and go to the main page of the broker's website and click on the "Open an account" button.

FXTM (Forex Time) Review - Official Website
FXTM (Forex Time) Review - Official Website
FXTM (Forex Time) Review - Official Website
2

To sign up, provide your personal data in the appropriate fields, and enter a password. After filling out the questionnaire, a PIN code will be sent to your phone and/or email, which must be inserted to complete the registration.

FXTM (Forex Time) Review - Registration
FXTM (Forex Time) Review - Registration
3

Now you need to fill in the profile with your personal data including the source of the funds.

FXTM (Forex Time) Review - Open Account
FXTM (Forex Time) Review - Open Account

Upon completion of registration, you will be taken to your Personal account, where you can use the following functions:

4
1. Open a trading account and customize it to fit your needs. FXTM (Forex Time) Review - Account Types
FXTM (Forex Time) Review - Account Types
2. Conduct financial transactions (deposit, withdrawal, and transfer of funds between accounts). FXTM (Forex Time) Review - Deposits & Withdrawal
FXTM (Forex Time) Review - Deposits & Withdrawal
1. Open a trading account and customize it to fit your needs. FXTM (Forex Time) Review - Account Types
FXTM (Forex Time) Review - Account Types
2. Conduct financial transactions (deposit, withdrawal, and transfer of funds between accounts). FXTM (Forex Time) Review - Deposits & Withdrawal
FXTM (Forex Time) Review - Deposits & Withdrawal

Also in the Personal account there are other useful sections:

  • Platforms. Here MT4 and MT5 terminals are available for download and there is a link to the web terminal;

  • FXTM Invest. Opening a trading account which offers manager statistics and investment management;

  • My documents. This section is for uploading documents required for account verification;

  • My profile. Contains profile management, manager subscriptions (transactions copying service), and passwords;

  • Access to trading signals, MT4 indicators, and strategy building based on FXTM pivot points;

  • Promotions and contests. Here you can find all the promotions available to the client, like bonus programs and coupons;

  • Education. Access to webinars, seminars, and e-books;

  • Customer support. Contains information on how to contact support for various issues.

Tags:

FXTM forextime

The Oldest Reviews of the FXTM

The reviews by customers of the FXTM indicate that it is a reliable brokerage company. Positive reviews increase standing and, of course, any negative reviews decrease its position in the ratings.

Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of FXTM published on the website in 2021 are verified and confirmed by Traders Union as reliable comments by real traders.

Working with ForexTime suits me fine. There are good technical solutions like FXTM Invest, convenient calculators, high-quality analytics, and a personal manager. I trade on the MT4 platform and I get a small but stable profit. Not all questions were fully answered by customer support. There are interesting educational videos. Starting this month, I decided to participate in the "Mountain Expedition" competition because the broker promises attractive bonuses like 300% of profit and the amount of your most profitable transaction doubles. Let's see what I get in the end.

I didn’t see huge profits on ForexTime, but I wasn’t hoping for it either. I keep a part of the deposit in PAMM. At the moment I am aiming at 170% growth in less than a month. You can choose your manager. The spread is quite narrow starting from 0.1 pips, so you can work. There are 3 standard account options and 5 types of ECN accounts. Leverage is up to 1:1,000, which is enough for me. When opening a cent account, the minimum deposit is only $5 and the standard deposit is from $100 and the same minimum amount is required for trading stocks. I make payments and transfers using a plastic card, but there are other alternatives.

The platform works well, and the execution of orders is instant. The first withdrawal took 5 days to complete! Because of this, my nerves were at the limit. But I continued to wait for my money anyway because other traders advised me that despite the long delay, FXTM's withdrawal program works. There were delays in resolving the issue of identity verification. The process was too complicated and consumed too much time. As for the spreads, they roughly correspond to those stated on the site. I took part in the FXTM Traders Marathon contest on a demo account but never won anything. I did not participate in the competition on a real account, because 1,500-2,000% of the profit, like the leaders, is off-limits for me. Their referral program is $25 per attracted client. I'm not participating yet, but I want to try it in the future.

When registering, I saw on the FXTM website that the company has a lot of awards, even though the broker is only 4 years old. I had some doubts about this claim, but I did not bother to check further. I now have an ECN MT4 account here and a personal manager works with me. He helped me start trading and told me about strategies. On a real account, he chose a conservative approach, the profit is stable, although it is small. At first, when I participated in contests on a demo account, I opened a lot of deals. The profit was, of course, greater. But risking real money scares me a little so at the moment I'm not actively trading.

I have been cooperating with ForexTime since the beginning of 2014. Trading conditions are similar to other platforms, so I stayed here. I consider the fast execution of transactions, the stable connection of MetaTrader 4 with the broker's server to be a positive aspect. Because of that, a minimum of requotes and slippages occur, but they do happen. I learned a lot from the webinars but not everything was useful in practice, but the lessons were free. There are a lot of trading instruments on the site, but FXTM still has room to grow. Overall, I withdrew about 40% of the deposit, and there were practically no problems with the withdrawal.

In my opinion, the main advantage of ForexTime is a large number of instruments. You can trade currency pairs and also CFDs on stocks and metals. For the rest, the conditions of the site differ little from dozens of similar online brokers. The minimum deposit starts at $10 and spreads are similar also. Spreads float and are rather narrow during calm market moments but the leverage is quite high. The maximum reaches 1:2,000. The broker offers many options for replenishing an account and the commission for replenishment is zero. Withdrawals in some cases are charged from 0.5% to 2%. For a bank transfer for the first time I had to pay 30 euros, so I no longer use transfers.

ForexTime provides a free VPS server, but the concept of "free" is conditional here. The cost of server services depends on the volume of trades and the size of the deposit. The more you trade, the cheaper are the server costs, so the trading volume and the number of lots are always expensive. As a result, VPS costs are not that bad. There is a wide selection of indicators, which helps a lot when working with the terminal. Indicators can be installed on MT4 and MT5. There is a trove of training on the site but there are no practical reviews of transactions and analysis of intraday trading strategies.

Author of this Review

FXTM broker’s review prepared by

John Davis

Traders Union Author and Analyst

John Davis is a Financial and Economic Analyst working with the Traders Union since 2016. During this time, he has written more than 100 analytical articles on technical and fundamental analysis, reviews of financial companies and has developed more than 10 proprietary trading systems. John's motto is to help everyone go from a novice to a professional trader.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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FAQs

Do reviews by traders influence the FXTM rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about FXTM you need to go to the broker's profile.

How to leave a review about FXTM on the Traders Union website?

To leave a review about FXTM, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about FXTM on a non-Traders Union client?

Anyone can leave feedback about FXTM on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

Why is it more profitable to work with FXTM through Traders Union?

Because you will receive additional payments from Traders Union every month while all other functions on your chosen trading platform remain the same.