- Types of accounts
- Reviews (1)
FXTM or Forex Time, established in 2011 and headquartered in Cyprus (Limassol), also authorized by the FCA and other regulatory bodies, has been named one of the fastest growing and best Forex brokers in the world. In a relatively short time, the company has shown strong and rapid growth in Europe and beyond, focusing on the regions of Africa and Asia.
ForexTime Ltd, ForexTime UK Ltd and Exinity Limited are three FXTM-branded companies that provide trading services to over 10,000 clients in over 135 countries.
The parent company ForexTime Ltd is regulated by CySEC in Cyprus, authorized by the FSCA of South Africa, and the subsidiary offshore FSC in Mauritius. In addition, the FXTM UK trademark is licensed by the FCA, a renowned regulator that has guidelines created by the European MiFIDs and ICFs that allow cross-brokerage.
The broker completely separates client funds from FXTM operating funds, remaining in the leading and reputable banks in the EU. In addition, FXTM is a member of the Investor Compensation Fund (ICF), which provides compensation in the event of a company's insolvency.
When trading with FXTM broker, you can trade with fixed or floating leverage. Therefore, if you want to work with higher leverage ratios such as 1: 400, 1: 500, or even 1: 2000, you can open an FXTM account in a specific jurisdiction that allows you to trade using such high leverage levels.
Otherwise, if you are a resident of Europe or the UK, and also have an account with a European organization that agrees to comply with ESMA rules, the maximum current leverage ratio is set to:
- 1:30 on Forex instruments;
- 1:20 for metals, 1:10 XAGUSD;
- 1:20 on exotic currency pairs;
- 1: 5 per share.
FXTM Trading Accounts
Broker FXTM offers 6 account types for different trading styles. However, always check which legal entity you will be trading under, as FXTM offering may differ slightly for Forextime Limited, ForexTime UK or Exinity Limited.
So now let's take a closer look at the standard FXTM accounts, which are divided into three options:
- Standard Account. This is the most balanced offer with a floating spread from 1.3 pips, a minimum deposit of $ 100 and leverage up to 1: 2000.
- Cent Account. This is a good choice for beginners with a small initial deposit of $ 10, spread from 1.5 pips and cent lots.
- Stock CFDs Account. This account has been specially designed for traders who prefer to trade stocks with allowed hedging and spreads from 0.1 pips.
The second group of accounts is known as FXTM ECN accounts, which are also divided into three types:
- ECN Zero Account. This is a commission-free account with a fairly low deposit of $ 200, spreads from 1.5 pips without requotes and allowed hedging and scalping functions.
- ECN Account. This account includes a commission of $ 2 per lot and low spreads from 0.1 pips.
- FXTM Pro Account. This account is for professionals with a $ 25,000 deposit and offers floating leverage, interbank spreads from 0 pips and a wide variety of assets.
FXTM will charge you a $ 5 inactivity fee per month if you have not been in any trading activity for six months or more. Regardless, there are no deposit or withdrawal fees, so the overall fee structure for FXTM is fairly transparent.
What is the minimum deposit on FXTM?
The minimum deposit is set at a low level of $ 100 for a standard account and $ 10 for a cent account.
Does FXTM have a bonus?
Yes FXTM offers bonus programs. However, the bonus program is only available to the international FXTM brand and those clients who trade or have an account with Exinity Limited registered under the laws of Mauritius. Therefore, if you open an account with an international FXTM organization, you can claim your bonus in line with recent FXTM promotions.
In general, FXTM offers a wide variety of trading instruments. The offer includes over 250 financial instruments, including Forex products with over 50 currency pairs, CFDs on popular cryptocurrencies such as Bitcoin, ETH, Litecoin and Ripple. In addition, you can choose CFDs on spot metals, CFDs on stocks of over 170 large companies, CFDs on commodities and indices.
Broker FXTM provides quality trading potential for both beginners and experienced traders or investors. In addition, ForexTime has other advantages, the variety of accounts is very impressive, which allows any trader to choose the most suitable option with flexible leverage, tight spreads from 0.1 pips and low initial deposit requirements.
See also FXTM reviews before choosing a broker.
- The year of Foundation 2011
- Head office address FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia, 4156, Limassol, Cyprus
- Maximum leverage
- Min. Deposit $
- Regulation CySEC, FCA, FSC
- Trading platform
- Payment system to enter Bank Transfers, Debit/Credit Cards , Skrill, Webmoney, Neleller, Яндекс.Деньги, Альфа-клик, FasaPay, QIWI, Perfect Money, BitCoin
- Payment system for withdrawal Bank Transfers, Debit/Credit Cards , Skrill, Webmoney, Neleller, Яндекс.Деньги, Альфа-клик, FasaPay, QIWI, Perfect Money, BitCoin
- Number of trading instruments 62
- The number of CFD instruments 193
- The number of metals 5