FXTM Broker Review 2024

FXTM (Forex Time) was established in 2011 as a forex broker. Only ten years more than 1 million people started using its services. Forex Time Broker has received 45 awards for no other reason than its extraordinary benefits, including zero spreads. But beyond these advantages, is FXTM suitable for Forex trading? Can they be trusted? To answer these questions, stay with us in the "FXTM Review" article.

FXTM Company Information & Regulation

FXTM, established in 2011, has quickly become a major player in the global forex and CFD trading landscape. Headquartered in Mauritius, FXTM has expanded its reach to serve clients in over 150 countries worldwide. However, this company has only one regulation, which is:

• The Financial Services Commission (FSC) of Mauritius

In past years, ForexTime received regulations from the UK FCA, CySEC Cyprus, and FSCA South Africa, all of which have now expired. This company has performed poorly and inappropriately in this field because its only license is from an offshore regulator that is not very reliable.

Summary of Specifications

Let's take a closer look at what FXTM brings to the table and get to know this brokerage:

FXTM stands out with its diverse range of trading instruments, competitive spreads, and high leverage options. The broker caters to both novice and experienced traders with its variety of account types and comprehensive educational resources.

What are FXTM Account Types? Full Comparison

This broker offers 3 account types [ADVANTAGE STOCKS, ADVANTAGE, ADVANTAGE PLUS] to suit different trading styles and experience levels; FXTM Account Types:

FXTM Pros and Cons

Like any broker, FXTM has its strengths and weaknesses. Let's break them down to see what it got:

FXTM Broker Sign Up: Complete Tutorial for Traders

Opening an account in FXTM is easier than what it seems and can be done in 6 steps; Forex Time Broker Registration:

1. Visit the FXTM website and click on "Open Account";
2. Fill in registration form with First & Last Name, Country of Residence, Phone Number, Email and Password;
3. Verify your email address;
4. Upload required documents for verification (ID and proof of address);
5. Choose your preferred account and fund it;
6. Start trading!

The verification process is typically completed within 24 hours, allowing you to start trading quickly and securely.

What Platforms are Available on FXTM?

This broker supports the world's most popular trading platforms, MetaTrader 4 and 5. In addition to these two, it is also possible to trade on mobile with this broker's application, FXTM Trader App; Forex Time Trading Platforms:

• MetaTrader 4 (MT4): The industry-standard platform, known for its user-friendly interface and extensive customization options.
• MetaTrader 5 (MT5): An advanced version of MT4, offering more timeframes, indicators, and the ability to trade a wider range of markets.
• FXTM Trader App: FXTM's proprietary mobile app, allowing traders to manage their accounts and trade on-the-go.

All platforms come with advanced charting tools, multiple order types, and the ability to automate trading strategies using Expert Advisors (EAs).

FXTM Forex Broker Spreads and Commissions Overview

FXTM offers competitive spread and commission across its account types; FXTM Spread and Fees:

These competitive rates, combined with fast execution speeds, make FXTM an attractive option for both casual and high-volume traders.

What Deposit & Withdrawal Methods on FXTM?

FXTM offers more than 10 deposit and withdrawal methods, including VISA and MasterCard; Forex Time Payment Methods:

• FasaPay;
• TC Pay;
• M-Pesa;
• VISA;
• MasterCard;
• Maestro;
• Google Pay;
• GlobePay;
• Skrill;
• PayRedeem;
• Perfect Money;
• Neteller;
• Bank Wire Transfer.

Most deposits are processed instantly, while withdrawals are typically processed within 24 hours. FXTM does not charge fees for deposits, but some withdrawal methods may incur a small fee.

Copy Trading & Investment Options

FXTM offers a robust copy trading program called FXTM Invest. This allows less experienced traders to automatically copy the trades of successful strategy managers. FXTM Copy Trade Features:

• Low minimum investment ($100)
• Ability to follow multiple strategy managers
• Real-time tracking of strategy performance
• Flexible allocation of funds

This program provides an excellent opportunity for beginners to learn from experienced traders while potentially earning returns.

FXTM Forex Broker Bonuses

While FXTM occasionally offers promotions, they focus more on providing value through competitive trading conditions and excellent service rather than flashy bonuses. Current promotions include:

• Loyalty Program: Earn points for trading activity, which can be exchanged for trading credit;
• Referral Program: Earn rewards for referring new clients to FXTM;
• Deposit Bonus: $30 deposit bonus for all traders.

Always check the terms and conditions of any promotion before participating.

Support

At FXTM Review, we found that 24/7 support is not available; However, Forex Time's experts are available 24 hours a day from Monday to Friday. FXTM support:

• 24/5 support via live chat, email, and phone;
• Support available in multiple languages;
• Extensive FAQ section and help center.

Trust Scores & Reviews

FXTM has garnered positive reviews from traders and industry experts alike:

• Trustpilot: 3.3/5 (Average);

• ForexPeaceArmy: 2.1/5 (Average).

These average scores on Trustpilot and FroexPeaceArmy reflect FXTM's advantages and disadvantages that needs to be taken care of.

Trading Finder Conclusion and final words

Forex Time Broker is one of the relatively old brokers [established in 2011] that provides potential features such as low spreads and 0 commissions.

In FXTM, you can trade more than 1000 symbols and benefit from its advanced copy trading. However, a major drawback is the lack of authorization from reputable regulators such as FCA, ASIC, and CySEC. Now the choice is yours, will you use their services? Thank you for staying with us until the end of the FXTM Review.