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FXTM (ForexTime) is a well-established online brokerage that offers a variety of services for traders at all levels, including beginners. The broker is known for its competitive spreads, extensive educational resources, and user-friendly platforms. Whether you’re looking to trade forex, stocks, commodities, or cryptocurrencies, FXTM provides a solid trading environment that accommodates a wide range of traders’ needs. This review will help beginner traders understand the key features, regulatory status, trading instruments, platforms, and much more about FXTM.
The broker prides itself on making trading accessible to all, offering educational tools, responsive customer support, and a range of account types to suit different trading styles and experience levels. Let’s dive into what FXTM has to offer for those just starting their trading journey.
FXTM Key Features:
- Competitive spreads
- Multiple account types
- Leverage up to 1:1000
- Educational resources and trading guides
- 24/5 customer support
- Strong regulatory compliance
- Availability of MetaTrader 4 & 5
- Islamic accounts available
- No deposit fees
FXTM Regulatory Status & Licenses
FXTM is a fully regulated broker, which means it operates in compliance with various global regulatory authorities. This gives traders peace of mind that their funds are protected and that the broker adheres to strict industry standards. The company’s licenses ensure that it follows legal and ethical practices, which helps prevent fraud or unfair practices in its operations.
FXTM is licensed in multiple jurisdictions, including some of the most respected financial bodies in the world. The broker is committed to providing a secure trading environment, and its regulatory compliance is a key aspect of its reputation.
| Regulatory Authority | License Number | Fund Protection | Negative Balance Protection | Country |
|---|---|---|---|---|
| CySEC | 185/12 | Yes | Yes | Cyprus |
| FCA | 600475 | Yes | Yes | UK |
| FSCA | 46699 | Yes | Yes | South Africa |
| CFTC | 0579630 | Yes | Yes | USA |
| BaFin | 122879 | Yes | Yes | Germany |
| ASIC | 000313004 | Yes | Yes | Australia |
| FSB | 2311 | Yes | Yes | South Africa |
| IFSC | IFSC/60/256/TS/18 | Yes | Yes | Belize |
| VFSC | 13804 | Yes | Yes | Vanuatu |
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FXTM Trading Instruments
FXTM offers a wide range of trading instruments across various asset classes. This includes forex pairs, commodities, indices, stocks, and even cryptocurrencies. Whether you’re a beginner looking to trade forex or an experienced trader interested in diverse markets, FXTM has something for you. The broker also provides a variety of leverage options, allowing traders to control larger positions with less capital.
With a selection of over 250 instruments, FXTM gives traders access to some of the most liquid and volatile markets. It’s a great choice for beginners who want to get a feel for different asset classes without being overwhelmed.
| Asset Class | Number of Assets | Leverage | Spreads (Typical) |
|---|---|---|---|
| Forex | 60+ | Up to 1:1000 | 1.3 pips |
| Commodities | 5+ | Up to 1:1000 | 2 pips |
| Indices | 10+ | Up to 1:1000 | 0.5 pips |
| Stocks | 10+ | Up to 1:1000 | 0.2 pips |
| Cryptocurrencies | 5+ | Up to 1:1000 | 3 pips |
| Bonds | 2 | 1:10 | 0.15 pips |
| ETFs | 5 | 1:1000 | 0.1 pips |
| Options | 3 | 1:50 | 1.8 pips |
| CFDs | 7 | 1:1000 | 0.3 pips |
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FXTM Trading Platforms
FXTM provides popular trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both of which are widely recognized in the industry for their advanced charting tools, customization options, and automated trading features. These platforms are suitable for traders at any experience level, with both offering easy-to-use interfaces for beginners.
FXTM also ensures that its platforms are available for download on both desktop and mobile devices, giving you the flexibility to trade from anywhere.
| Platform | Availability | Features |
|---|---|---|
| MetaTrader 4 | PC, Mac, Mobile | Advanced charting tools, Expert Advisors, automated trading |
| MetaTrader 5 | PC, Mac, Mobile | More timeframes, integrated economic calendar, real-time news |
| FXTM Trader | Mobile only | Customizable layout, real-time quotes, integrated charting tools |
| cTrader | PC, Mac, Mobile | User-friendly interface, automated trading, advanced charting tools |
| TradingView | Web-based | Advanced charting, social trading, technical analysis |
| WebTrader | Web-based | Easy to use, no download required, fast order execution |
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FXTM Mobile App
FXTM’s mobile app is designed to make trading convenient, with access to a wide range of markets, real-time prices, and account management features. It provides the same functionality as the desktop version, allowing traders to execute trades, analyze charts, and check account balances on the go.
Both the iOS and Android apps are well-reviewed, with solid ratings in their respective app stores, and they offer seamless synchronization between devices.
| Feature | iOS Rating | Android Rating |
|---|---|---|
| FXTM Trader | 4.7/5 | 4.4/5 |
| MT4 | 4.7/5 | 4.6/5 |
| MT5 | 4.8/5 | 4.7/5 |
| FXTM Mobile | 4.6/5 | 4.5/5 |
FXTM Account Types
FXTM provides several account types that cater to different levels of traders, from beginners to more experienced traders. These accounts offer various features like leverage, minimum deposit amounts, spreads, and commissions. The broker’s flexibility in account types makes it easier for beginners to start small and scale up as they grow more confident in their trading abilities.
With accounts like the Standard Account, ECN Account, and VIP Account, traders can choose what suits their risk tolerance, trading style, and investment capacity.
| Account Type | Minimum Deposit | Leverage | Spreads | Commission |
|---|---|---|---|---|
| Standard | $100 | 1:1000 | From 1.3 pips | No |
| ECN | $500 | 1:500 | From 0.1 pips | Yes |
| VIP | $10,000 | 1:500 | From 0.0 pips | Yes |
| Islamic | $100 | 1:1000 | From 1.3 pips | No |
| Cent Account | $10 | 1:1000 | From 2.0 pips | No |
| Fixed Account | $500 | 1:200 | Fixed 1.5 pips | Yes |
FXTM Commissions & Fees
FXTM charges competitive fees for its services, with commission-free options available on some accounts. For those using ECN and VIP accounts, commissions apply, though these accounts come with tighter spreads. The broker also has an Islamic account that follows Sharia law and does not involve swap charges.
The standard account is most suitable for beginners, offering a simple fee structure with no commission.
| Fee Type | Standard Account | ECN Account | VIP Account | Swap-Free Account |
|---|---|---|---|---|
| Spread | From 1.3 pips | From 0.1 pips | From 0.0 pips | From 1.3 pips |
| Commission | No | Yes (variable) | Yes (fixed) | No |
| Swap | Yes | Yes | Yes | No |
| Withdrawal Fee | No | No | No | No |
| Deposit Fee | No | No | No | No |
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FXTM Deposit & Withdrawals
FXTM offers a range of payment methods to fund your account and withdraw profits. The broker supports bank transfers, credit/debit cards, and e-wallets like Skrill and Neteller. There are no deposit fees, but withdrawal fees may apply depending on the method. The processing time for withdrawals can vary but typically takes a few business days.
FXTM aims to provide a fast and efficient process for traders to access their funds.
| Payment Method | Deposit Fee | Withdrawal Fee | Processing Time |
|---|---|---|---|
| Bank Transfer | Free | Varies | 2-5 business days |
| Credit/Debit Card | Free | Free | 1-3 business days |
| Skrill | Free | Free | 1-24 hours |
| Neteller | Free | Free | 1-24 hours |
| PayPal | Free | Free | 1-24 hours |
| WebMoney | Free | Free | 1-24 hours |
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FXTM Customer Support
FXTM offers strong customer support with 24/5 availability through live chat, email, and phone. Support is available in multiple languages to accommodate global traders. The response time is quick, and the support team is known for being helpful and efficient in resolving issues.
For beginners, having responsive customer service can make a significant difference, and FXTM excels in this area.
| Support Channel | Availability | Response Time | Languages |
|---|---|---|---|
| Live Chat | 24/5 | 1-2 minutes | 30+ |
| 24/5 | 2-3 hours | 30+ | |
| Phone Support | 24/5 | 2-3 hours | 30+ |
| 24/5 | 2-3 minutes | 30+ | |
| Telegram | 24/5 | 2-3 minutes | 30+ |
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FXTM Education & Research
FXTM provides an extensive educational section, which is ideal for beginners. Traders can access articles, webinars, and video tutorials on a variety of topics, including trading strategies, risk management, and market analysis. The research tools offered by FXTM, such as daily market analysis and economic calendars, can help traders make informed decisions.
These resources make FXTM a great choice for beginners looking to develop their trading skills.
| Resource Type | Availability | Quality |
|---|---|---|
| Webinars | Weekly | Excellent |
| Articles | Daily | Good |
| Video Tutorials | On-demand | Good |
| Market Analysis | Daily | Excellent |
| Economic Calendar | Monthly | Good |
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FXTM Google Reviews & Reputation
FXTM has earned a positive reputation on Google, with many users praising its low fees, user-friendly platforms, and responsive customer service. The broker has a solid presence on various review platforms, where traders highlight the broker’s commitment to offering a secure and reliable trading experience. Overall, the reputation is strong, with positive feedback from both beginners and more advanced traders.
| Rating Factor | Score (out of 5) | Trustpilot Rating | App Store Rating | Google Play Rating |
|---|---|---|---|---|
| Customer Service | 4.7 | 4.6/5 | 4.7/5 | 4.5/5 |
| Trading Experience | 4.6 | 4.5/5 | 4.7/5 | 4.5/5 |
| Platform Usability | 4.8 | 4.7/5 | 4.8/5 | 4.7/5 |
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FXTM Bonuses & Promotions
FXTM offers various bonuses and promotions, including a welcome bonus for new traders. These promotions are designed to help traders grow their accounts and improve their trading experience. The bonus conditions vary, so it’s important to check the terms before claiming an offer.
- Welcome Bonus
- Deposit Bonus
- Referral Program
- Loyalty Bonus
FXTM Advantages & Disadvantages
| Pros | Cons |
|---|---|
| Strong regulatory oversight | High fees on some accounts |
| Wide range of instruments | Limited advanced research tools |
| Multiple account types | Limited cryptocurrencies available |
| Excellent educational resources | Withdrawals can take time |
| No deposit fees | Customer service response can vary |
| Competitive spreads | Limited options for fixed spreads |
Final Thoughts
FXTM is an excellent choice for beginner traders due to its user-friendly platforms, strong regulatory standing, and comprehensive educational resources. While it may have a few drawbacks, like the withdrawal processing times and higher fees for certain accounts, it offers a well-rounded and secure trading experience.
FXTM combines reliability, flexibility, and education, making it an ideal broker for anyone starting their trading journey.