• Thu. Aug 18th, 2022

    FXTM Review: a Safe Forex Broker?


    Oct 5, 2021

    ForexTime Brokers is a forex brokerage company headquartered in Cyprus. This international brokerage company started operating in the world of forex trading in 2010. FXTM brokers have representative offices in various countries. With the advantages of fast execution, both for registration and transaction orders, this broker is slowly but surely, becoming a trusted broker for its clients.

    Guaranteed by International Regulators

    ForexTime Ltd can be regarded as a trusted brokerage company. This broker has obtained a permit from an international regulator from Cyprus. Therefore, traders do not have to worry about the legality of this brokerage company.

    fxtm review

    Many traders who are looking for a broker will be confronted by the many reviews on the web, not all of which are genuine. There are many websites that focus on doing broker reviews and there is a lot of talk about brokers on various forums, channels, and social media groups. While some of the information comes from real experience or from people who have used the broker’s services, some have a hidden agenda which is to promote the broker. Promoting a forex broker is a legal and normal practice, as long as it is done in a transparent manner. However, use your intuition when reading FXTM reviews.

    Micro, mini and standard lots are also available on all account types

    There is a dedicated account for trading stock CFDs, called a Shares account, which is directly linked to the NYSE and NASDAQ product price lists. Please note that on all accounts with market execution (ECN), stop loss and take profit can only be added after the market order has been executed. This restriction limits a trader’s ability to use the pending order feature, as stop loss and limit levels cannot be added beforehand. An alternative to this problem is to use the other three account types (Standard), which uses the instant execution type.

    Minimum Initial Deposit

    To open an account at FXTM, a trader only needs to make a minimum deposit of $10, which is a low initial deposit in forex trading.

    Spreads & Commissions

    Most FXTM accounts charge no commission: Standard accounts, as well as ECN Zero and Pro accounts. Only ECN MT4 & ECN MT5 accounts charge a small commission of $4 per standard lot. The tightest spreads are available on ECN and Pro accounts; however, the latter account type is intended for institutional clients with a minimum initial deposit of $25,000 so we recommend the ECN MT4 account. The average EUR/USD spread on this account is 0.4 pips, and if we include the commission (2 x $2), then the average transaction fee for this currency pair is 0.8 pips per forex lot, which is the quote that is very interesting.

    Maximum Leverage

    A high level of leverage is available on Exinity Limited – up to 1:1000. This broker uses a floating leverage system. However, under Forextime Limited and Forextime UK Limited, the maximum leverage is 1:30.

    Payment method

    FXTM offers a variety of secure payment methods, including payments via credit/debit cards, bank transfers, and several E-Wallets, such as Skrill, Neteller, Alsfa-Ckick, WebMoney, Western Union, Payza, dotpay, Yandex, Qiwi, and Baidu Pay. The choice of payment method above will depend on the country where you live.

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