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FXTM Broker Review

iconiconiconicon icon 4.0

1:2000

10

0

Mauritius

2011

1:2000

10

2011

0

Mauritius

Overall

Regulation: FSC, FCA, CySEC, FSCA
Type of broker: Market Maker/ECN hybrid
U.S. Clients Allowed:
Min. deposit: 10
Max. leverage: 1:2000
Commissions / Spreads: Variable
Demo Account:
Islamic Account:
Segregated Account:
Managed Accounts:
Institutional Accounts:
Website Languages: English
Support Hours: 24/5
E-mail Support:
Live Chat:
Established: 2011
Forex Trading:
CFD Trading:
Payment options: Visa/Mastercard,E-wallet,Crypto,Bank wire
Average spread: 0

Review

FXTM

FXTM (Forex Time) was founded in 2011 and has an office in Cyprus (Limassol). It is considered one of the best brokers on the market, growing and growing rapidly, at the same time, approved by the Financial Conduct Organization and other regulators. The broker soon saw growth in Africa and Asia, as well as in Europe. The broker allows investors to make a profit with an active trading and investment program. The company is endorsed by several organizations, including the South African Financial Supervision Authority (FSCA), CySEC (Cyprus Securities and Exchange Commission), FSC (Mauritania Financial Supervision Commission) and the UK's FCA (Financial Conduct Authority). The company has received several awards during its existence, including "Best Innovative Broker" (2018) and "Best Trading Terms" (2018, 2019). ForexTime Ltd operates in more than 135 countries around the world and serves more than 10,000 clients.


Comissions and Fees

FXTM has a set of rules for calculating fees, so they are determined according to the type of account used. In general, proposals in FXTM are based on spreads. The standard MT4 spread starts at 1.6Pips and 0.1Pips for an ECN account that includes the MT4 AND MT5 platforms. However, the commission fee for all these operations is charged by FXTM.


Depositing

Depending on the financing methods, FXTM will help you find the most suitable provider, so there are a variety of financing options available, which is already a very simple process.

You can choose one of the methods provided to fund the account or to transfer money. At the same time, the processing of the deposit is carried out in a short time. Within 2 hours, the money is already in your account and you can start trading immediately. A minimum deposit of $/€/£ 100 for Standard Accounts and $ 10 for Cent Account.

  • Credit cards
  • Transfers through selected banks (Deutsche Handelsbank, Rietumu Bank) - Deutsche Handelsbank (accepts deposits in EUR), Rietumu Bank (using GBP, PLN, USD, EUR, RUR)
  • Electronic wallets (Dotpay, Western Union, Yandex money, Qiwi Wallet, Neteller, Alfa-Click, Skrill, WebMoney, Bitcoin, and settlement via Skrill)

Withdrawal

There are many options for withdrawing money at FXTM, such as bank transfers, e-wallets and cards. The withdrawal commission is designed differently for each option. Credit Cards are set at $ 3, Bank Transfer at $ 30, and WebMoney at 2% of the required amount. Compared to other industry offers, the FXTM withdrawal commission can be considered very small.


Customer Support

FXTM pays special attention to customer service. It is active 24/5. For solving any problem, answering questions, or additional things, customers can contact by e-mail, phone, a number of online ways (Whatsapp. Telegram, Messenger, Viber). At the same time, customers have a chance to use the call-back service.


Education and Research

FXTM's research team provides short Youtube videos, podcasts, and market reviews and analysis. Beginner traders can get detailed information or improve their knowledge through videos, blogs, podcasts. They have innovative periodic tables full of their own trade terminology. All this is indispensable for beginners or experienced traders.


Reliability

FXTM is a well-regulated brokerage operation. The site uses a special encryption program to ensure the privacy and security of users. At the same time, it serves a high level of protection of the customer's different bank accounts.


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