FXTM (forextime.com) Review for 2017 | Forex Brokers Reviews UK

FXTM Review

FXTM Review

FXTM (forextime.com) also known as Forex time has numerous trading accounts that can be classified into 2 groups. The first is ECN, which consists of MT4, MT5, ZERO, Pro and standard that consists of CENT, Standard and Share accounts.

Further to the info provided in the table above. There is another account known as share account. The share accounts are a special account, which is used for trading CFD’s on share and it is related to NASDAQ and NYSE product pricing.
You also can avail of 2 types of investment options from FXTM. They are PAMM and Swap Free. If you are looking at safety then PAMM is your best bet. These services are available at a reasonable price of $1.7 per lot. Moreover except for the ECN MT5 account you can avail of Swap Free ( Islamic ) accounts for all they types of accounts at FXTM.

You can avail of mini, micro and standard accounts at FXTM.

 

fxtm review

Minimum amount to deposit for trading:
All you need is $5, which is a negligibly small amount to spend in order to open an account with FXTM to begin trading.

FXTM Commission & Spread

You can avail of the lowest possible spreads at FXTM. These spreads vary on the type of account you possess. You can get the tightest spread at FXTM Pro and ECN accounts. The Pro account is targeted at institutional investors whose deposit amount starts at$ 25,000. For MT4 ECN accounts which is usually recommend to the general public the spread is 0.7 pips for EUR/USD pair. If commission is included then it 1.1 pips per lot which makes it an excellent offer from FXTM.
The standard, Pro and ECN zero accounts at FXTM are commission free. The only commission you need to pay is $4 per lot for MT4 & MT5 accounts.

Leverage
You can get a leverage of up to 1:500. There is a chance to lose money with such high leverage. However to reduce the risks FXTM offers a floating leverage.

Regulation & Licensing

FXTM is regulated and licensed by Cyprus Commodities and Exchange Commission abbreviated as CySEC, which is based in Cyprus and member of EU. All European MiFID regulations are applicable for Cypriot registered firms. In order to establish a firm financial stability, it is mandated by the Cypriot investment board to maintain at least €730, 000. Moreover as per investment board any money from the client has to be maintained in separate accounts. Periodic reporting on the financial status to CySec is also mandatory.
An advantage to go along with a CySec registered firm is the compensation guarantee in case of any kind of misadventure since all of these companies are members of the Investor Compensation Fund. As per regulations in case of insolvency clients need to paid 20,000 Euros.
FXTM is also officially registered with numerous other EU regulators such as Germany’s BaFin, France’s AMF, UK’s FCA, Italy’s CONSOB, Norway’s FSAN and Spain’s CNMV.
Outside the EU region FXTM is also registered as a Financial Service Provider in South Africa with the Financial Services Board. FXTM also possess a category 1 Intermediary license to trade in in Securities and Instrument such as Bonds, Money market instruments, Derivative instruments and shares.
As per 2016 ESMA guidelines FXTM made an announcement that they will limit their losses and ensure that it will never exceed the amount which is available in the customer accounts. This is known as negative balance protection where the clients will not lose more money than they have deposited.

Trading Platforms

Both MT4 & MT5 MetaQuutes platforms are supported at FXTM. The platforms are available in web desktop and mobile versions. Both Android an iOS versions of the mobile platform is available. All platforms are regularly updated keeping pace with any regulatory requirements.

Although the MT5 is regularly updated with all the advanced features most client still prefer to use the MT4 platform. MT4 comes with plently of technical indicators , numerous Expert Advisors (EAs), plenty of charting and extensive testing environment. Moreover the ease of use makes MT4 ideal for the novices.
The advantage of MT5 over MT4 is that with a single trading account traders can execute orders at multiple exchanges and financial markets. Some of the features are alerts, customizable indicators, signals, charting packages, trading tools along with analysis tools. Recently MetaQuites has also made improvements by adding a tool for hedging, analyzing news, exchange market.

You have the Forex VPS service for those clients who want to automate their trading strategies and go for Expert Advisors feature. Technical traders can use trading Central technical analysis tool, which is available free. FXTM Invest is a copy trading solution from FXTM.

 

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FXTM Review
5 (100%) 1 vote

Author: review4forex

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