Contents
The numerous licenses and subsidiaries of this broker give it a wide field of action. There are specific countries in which they do not provide their services. USA, Canada, and Japan cannot legally access their services, as is the case with many European brokers. We can say that FXTM is really thoughtful of its traders. It is a broker that cares supports, and gives its best to be able to give its clients the ability to go to their full potential and get more from trading. Also, the FXTM adopted the SSL network security protocol.
FXTM maintains one of the best selections of offered payment methods industry-wide. The minimum deposit at FXTM for the Micro Account is $50 or a currency equivalent. The Advantage and Advantage Plus alternatives each require a minimum deposit of $500. While this latter figure is relatively high, I believe the trading conditions offered here are more than worth the deposit size. Forextime offers excellent spreads in its commission-based account, making it one of the cheapest Forex brokers in the entire retail Forex industry worldwide. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Without this regulation, the broker is not authorized and is not legit. It is important for us as traders to protect our money and investments. This regulation will serve as your protection from scammers circulating online. A very solid range of FXTM account types are offered to suit traders from novice through to professional, and this is well supplemented with multi-device support and a new trading app. The spreads are also higher on a Cent account also at this lower level of entry so proportionally you are paying a little more than needed for every trade versus the ‘Standard’ or ECN accounts. The FXTM Pro account is the third type of ECN account offered by the broker.
We deposited about $19 which was the minimum but the site kept saying the same thing even 1 week after. I know they are regulated and have been for more than 5 years but something tells me they have gone rouge. When opening an ECN account, consumers must deposit a minimum amount of money to qualify for highly competitive rates and be exempt from any order volume limits. Our main idea is to provide the kind of news that is original and at the same time, it can prove to be beneficial for our audience. FXTM likewise offers six Live Trading Accounts, three Standard Accounts and three ECN Accounts notwithstanding the Free Demo. Contingent upon your experience and exchanging abilities, each record is fit to an alternate gathering of traders.
I thought of adding more funds if I am satisfied with the services. We would like to bring your attention to the fact that every deposit method has specific a specific period for processing. Please send your MyFXTM account number to We will check this information and provide a prompt response. Let other traders know if this service is worth checking or should be avoided. For retail customers, FXTM maintains a fully separate account for their money across all of these services. FXTM offers commission-free real stocks for non-EU clients.The real stock selection lags behind that of XTB, while similar to XM’s.
We will make a detailed check and provide you with a prompt response. Fxtm is the worst of all the brokers I have come across. It’s not even one month but a lot of false promises and issues. FXTM brand is authorized and regulated in various jurisdictions.
Is FXTM regulated? Yes. FXTM is a registered brand name of Exinity Limited, regulated by the Financial Services Commission of Mauritius with license number C113012295.
Below you may see some comparison between other trading CFDs brokers, yet remember this is the standard proposal that seems to be average and high at FXTM. Beginners can open a $100,000 FXTM demo account for free to practice trading and learn. Using the FXTM demo account is as simple as registering on the website. FXTM’s demo account provides you with access to MT4 and MT5 platforms, where you can test your strategies and place actual demo trades on real currencies.
These may include a residential proof, copy of your ID, bank statement etc. FXTM accepts clients from almost every world country, however there are might be some restrictions due to regulations alike implemented for residents of Japan, USA, etc. Hi there, please send your MyFXTM number to We will run a detailed check, if there are any delays we will expidate the process. Our dedicated Customer Support team will be more than happy to assist you.
ForexTime Limited withdrawal methods vary by which entity you’re trading with. The CySEC regulated branch takes credit and debit cards, wire transfers, and most online processors like PayPal and Skrill. There aren’t any additional fees for deposits or withdrawals. The original branch of the organization was the one in Cyprus.
The ECN accounts are where you will start to see some commissions but of course you have lower spreads to take advantage. It is natural that the broker will need to generate revenue from somewhere. The good thing with FXTM is that their commission charging is visible and easy to understand. With a strong award-winning track record of more than 11 years as a forex broker, it is clear to see that FXTM is not a scam but a safe place for you to trade forex, CFDs and other instruments. But not being a scam is the absolute bare minimum that we would expect from any broker, so this does not mean that FXTM is the best place for you to trade on that basis alone.
With the demo account, trading is done with virtual funds in an environment that perfectly replicates real trading. Moreover, traders can find a comparison of the two trading platforms with the broker. They help traders analyze and choose the one that suits their investment. The network already offers different reviews about the broker, and it shows that players of the Russian-speaking market are trying to work with the company and benefit from cooperation with it.
Is FXTM a legit company? Yes, FXTM is a legit broker, as each of the entities and brands that it serves is authorized and regulated by various global jurisdictions. The main entity ForexTime Ltd is regulated by CySEC of Cyprus, authorized by FSCA of South Africa, and additional offshore authority FSC in Mauritius.
Brokers must focus on strategies that help them to make more profit. If a broker doesn’t have a proven strategy for making you money, then they’re just another cost that you have to worry about. Exinity Ltd, which is the Mauritius based branch of FXTM are the brand most commonly offering bonuses and this is where FXTM Malaysis users have a good opportunity to take advantage of these bonuses. Again the lines in the sand on execution style are split across the Standard and ECN range. Standard accounts are classed as ‘instant execution’ with FXTM whereas the ECN range provides ‘Market Execution’.
This review is a warning against the Global Mining FXTM broker that has nothing to do with the real and legit FXTM broker. Payments using plastic cards and electronic payment systems – within one banking day. ForexPeaceArmy.com has advertising and affiliate relationships with some of the companies mentioned on this site and may be compensated if readers follow links and sign up. We are committed to the fair handling of reviews and posts regardless of such relations. There was no limit to withdrawal of bonuses obtained through promotions. I have used this broker for over 6 months with my MT4ECN account.
1) You are forced to copy open trades each time you deposit funds. Copying open trades makes sense in case of long-term portfolios, but for the forex market, that simply doesn’t work, and most certainly, it will mean taking losses. Now 75% of the account balance is my principal, but it said gbp huf that I need to pay 50% of the account balance as personal income tax to resume the withdrawal business. I consulted professionals in Japan and told me such a requirement is unreasonable. I have borrowed 940,000 yen from a friend for the platform anniversary event and illegal payment.
ForexTime is licensed and regulated by CySEC in Europe, with license number 185/12, see here. FXTM offered a $30 welcome bonus but canceled the promotion. You can support our anti-scam fight and buy a TBBOB NFT with Detective Tiger. As you can see in our picture, users, their faces and stories are always the same, but the name of the company changes every time. While the legit FXTM broker is regulated, Global Mining FXTM has nothing in common with the legit broker and is not regulated. A company that is abusing the name of another company is a scam, that’s just the way it is.
FXTM offer commission free trading on the 3 different standard accounts, Standard, Cent and Shares. There are also no swap fees payable which is a nice plus. You can expect a range swissquote trading app with FXTM depending on the type of account you are operating, standard or ECN MT4/MT5. The standard account Majors start from 1.6 pips but drop as low as 0.1 on the ECN account.
Well, at this stage of the company’s development, it seems, it is still too early to draw such conclusions, but you can secure yourself by simply working properly with your personal manager. The minimum deposit for FXTM is variable depending on the type of the account. We’d like to point out that we do not have any issues with withdrawals. We kindly ask you to send your FXTM ID and the withdrawal request to We will be glad to investigate your case and provide you with a detailed explanation on the situation. Trading currencies is just one of the many financial instruments offered by FXTM.
As of 2020, FXTM charges no commissions and dealing charges. Double check in our broker finder tool if FXTM is the right broker for you. You can’t open an account at FXTM if you live in Belgium. I’m afraid to open an account with FXTM after reading a few bad review here.
Our blog post on Safe Payment Methods discusses all payment methods offered. MT4 is one of the most popular trading platforms in the industry. MetaTrader 4 is a trading platform that has been around for several years, offering the best trading experience and customization over all others.
What can only be looked at as a significant upgrade on their sole MT4 offering is making trading easier and more convenient for its’ users. It must be said however that FXTM are sticking to what they do best which is forex, and there is nothing wrong with wanting to be an expert at one rather than a ‘jack of all trades’. If you are considering trading with FXTM Malaysia, India, or outside of the above regions, you will usually be covered by the Mauritius based arm of FXTM . FXTM have a solid history, having been first registered in 2011 and the broker now operate under 3 different entities that help to separate its’ users by the most appropriate regulation. We discovered that the domain of this website has been registered several years ago. Scammers nowadays also buy old and existing websites to start their malpractice.
In invested my 100 dollars based to two ratings low level of risk and atleast some returns. In order to provide accurate information, please send us an email to with the below information by your registered email, Trading account number and Order Number. Our relevant team will reply you as soon as possible and if anything is wrong we will look to compensate you for the losses. Instead of asking me to provide my own number, they should make it easy for everyone to withdraw.
It gives confidence and security due to the fact that it has a powerful security system and multi-device functionality. FXTM gives its best to be able to give its clients the ability to go to their full potential and get more from trading. The brand can be considered as a broker for all types of traders due to the products and services it offers. Before trading with any broker, make sure that the broker is regulated. Regulation is a license gained by the broker that passed certain criteria in order to operate legitimately in the trading industry.
While the FCA and CySEC regulated branches have decent reputations, many clients claim to have been scammed by the Mauritius international branch. Standard Account and Shares/Stock CFDs Account requires a minimum deposit of $/€/£ 100, while the Cent Account requires $/€/£ 10. With Standard Account, it is from 1.3, Cent Account from 1.5, and Shares/Stock CFDs Account from 0.3. The commitment of FXTM to trader education is admirable and an extensive array of videos and ebooks at no cost even to demo users is something we would like to see other brokers add into their future plans.
The clients have opportunities to choose their strategy managers by performance, experience and trading style. Once you find out that your broker is a scam then it’s time to move on and look for another one. Don’t waste your valuable time and money on such options as alpari review they can ruin your trading career as well as your life. There are some brokers which accept new traders easily but charge them heavily each month. Such brokers can be best avoided as they will hinder your trading career and make it difficult for you to earn money.
There are several educational tools, including demo accounts and webinars. In the beginning i was sceptic, as i was scammed a lot. Just make sure when you pick a broker, to check out his trading days, P/L daily, etc. FXTM costs are Fees are mainly built into a spread also defined by the account type you use. In addition, you should always consider other fees like non-trading fees, withdrawal fees which we will see in detail further.
