FXTM Review
- FXTM is highly regulated and by some of the world’s most renowned regulatory agencies.
- Clients’ funds are kept in segregated accounts.
- The company has competitive spreads.
- Several choices of trading accounts.
- Reliable trading platforms.
- Localized customer support services.
- Several channels for contacting support staff.
- The broker provides only MetaTrader trading platforms, which tends to give a generic trading experience.
FXTM (ForexTime) is an award-winning international broker founded by Andrey Dashin, a major shareholder with online forex broker, Alpari. FXTM is located in Limassol, Cyprus. The trading platform was launched in 2011 to serve as a safe and secure trading environment for traders across different continents. As such, it allows traders access to a broad range of trading accounts, classified into two categories namely: standard (includes CENT, Standard, and shares accounts) as well as ECN (including ECN MetaTrader 4, ECN MetaTrader 5, ECN Zero as well as ECN Pro). Furthermore, FXTM offers a unique account that lets traders trade CFDs on shares (known as Shares account). This particular shares account is directly linked to product price listings on the New York Stock Exchange (NYSE) and NASDAQ. The broker also offers PAMM accounts as well as swap-free options. Besides providing a full suite of trading options, the company offers demo accounts too.
FXTM offers social copy trading services through its Invest Offering product. FXTM is licensed and regulated in several jurisdictions including by the Cyprus Securities and Exchange Commission (CySEC), under license number 185/12. In addition to CySEC, FXTM is registered and authorized by the Financial Conduct Authority (FCA) in the UK, as well as South Africa’s Financial Services Board (FSB). FXTM is a recipient of numerous awards from reputable forex authorities. These include the 2013 Best Forex Newcomer Award, which was sponsored by The World Finance Foreign Exchange. The company also won the MENA 13 for fastest-growing Forex Broker as well as most innovative product award, in addition to several others which followed in subsequent years. FXTM is the official sponsor of the Sahara Force India Formula One team.
Trading Platforms
FXTM provides trading services to its clients only through reliable and proven platforms. These include:
MetaTrader 4
FXTM uses the popular MT4 trading platform developed by MetaQuotes. MT4 provides traders access to the most critical tools and resources used in analyzing the market and for executing trade. The platform is user-friend, fast, efficient, and offers robust security. One of the most popular features of the MT4 is the expert advisors (EAs). This is because they allow traders to automate trades in accordance with their trading needs. The MT4 supports several languages, allowing non-English traders to customize their trading platform in line with their language of choice. MT4 is available for PC both as a downloadable app and web-based platform.
MetaTrader 5
The MT5 is the latest offering from MetaQuotes. It builds on the success of the MetaTrader 4 and brings an overall improvement over its predecessor in multiple ways. The navigation interface has been dramatically improved to allow clients switch accounts seamlessly without breaking a sweat. This way, a trader gets to concentrate on executing trades. In addition to the improved interface, the MT5 brings more technical indicators including fractal adaptive MA, adaptive MA, double and triple exponential moving averages, and variable index dynamic average. Like the MT4, the MT5 trading platform is offered both as a web trader software and a downloadable app for computer and laptops.
Mobile trading platforms
FXTM gives traders the option of executing trades on their mobile devices by providing them with MT4 and MT5 platforms for both Android and iOS.
Trading Markets
FXTM offers traders the option of trading several products including:
- Currency pairs
- Spot metals
- Share CFDs
- CFDs on indices
- Cryptocurrency CFDs
- CFDs on commodities
Customer Support
Traders who use FXTM can reach out to the company’s customer support representatives through are a variety of channels. These consist of email, telephone, social media, and live chat. Support services have been decentralized in the following ways:
- China [email protected]
- Indonesia [email protected] 0078033218183 (toll free)
- India [email protected] 0008001004352 (toll free)
- Malaysia [email protected] +60 392 125 856
- Nigeria, Abuja (1st floor, Suite 109, Obum Place, Plot 1140, No. 16, Adetokunbo Ademola Crescent, Wuse 2 Abuja) [email protected] +234 803 153 4373
- Nigeria, Lagos (3rd Floor, Allen Avenue, Ikeja Lagos) [email protected] +234 14 6015 86, +234 908 7352 313, +234 803 4573 593
- Thailand [email protected] +66600035095
- South Korea [email protected] 00308132643 (toll free)
The company’s international customer support number is +44 203 734 10 25. The line is open 24 hours, Monday to Friday. Traders who wish to close or modify a position may call +44 203 734 10 63.
Also, traders can contact customer support through the live chat feature on the firm’s website, www.forextime.com. If you wish to send a message for queries and support through email, you may reach the support team through [email protected]. For disputes and complaints, you can send a message to [email protected]. Traders who wish to make inquiries on new accounts can send their queries to [email protected].
Furthermore, traders can contact FXTM customer support team through social media platforms such as Facebook (Facebook.com/ForexTime), Twitter (@ItsForexTime), Instagram (@fxtm_forextime), YouTube (YouTube.com/user/ItsForexTime), and LinkedIn. Similarly, traders chat with FXTM customer support representatives through WhatsApp, Viber, Messenger, Telegram, and Call Back. All they have to do is visit the company’s website at www.forextime.com/forex-time/contact and select how they would like to be contacted.
Security and Fairness
FXTM (ForexTime) is regulated in various jurisdictions by reputable regulatory agencies. These authorities include the Cyprus Securities and Exchange Commission (CySEC) under CIF number 185/12. The company is also licensed and authorized by South Africa’s Financial Services Board (FSB), with FSP number 46614. Another well-known financial authority that oversees the conduct of the organization is the UK’s Financial Conduct Authority (FCA), which registered the firm under license number 600475. FXTM is also regulated by the Financial Services Commission (FSC) of Belize under license numbers IFSC/60/345/TS as well as IFSC/60/345/APM. As FXTM is tightly regulated, traders can rest assured of the safety of their funds. FXTM keeps clients’ funds in segregated accounts and the firm updates CySEC about its activities on a regular basis. Also, CySEC uses a compensation scheme to safeguard clients’ funds further. To this end, each FXTM user will be compensated up to a maximum of 20,000 Euro, if the company becomes bankrupt.
Conclusion
Overall FXTM, also known as ForexTime, is a broker with no significant disadvantages. In addition to being regulated, FXTM is a global award winner with great customer support services to boot. With over 250 assets from which traders can trade and earn income, FXTM has proven to be a high-flyer in the last 7 years.
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