FXTM (Forextime) Review 2021 & Cashback
FXTM (Forextime) reviews by verified customers, cashback rebates, expert ratings, spreads & fees, leverage, demo accounts, downloads, trading platforms and more.
Save on your trading costs with FXTM (Forextime)!
Cash back right to your brokerage account and spread/commission discounts at select brokers.
- Micro accounts available (ideal for novice traders).
- Zero fees on deposits & instant withdrawals.
- Excellent copy trading platform (FXTM Invest).
- Low minimum deposit from €/£/$10.
FXTM (Forextime) Overall ratingOverall rating is an average of ratings from experts in 4 categories.
4.5 (37 reviews)
We start our FXTM review highlighting some of the key features of this Cyprus-based CFDs broker. Established in 2012, FXTM is a trading brand of Forextime Ltd, a financial services company with head office in Limassol, Cyprus and supervised by the Cyprus Securities and Exchange Commission (CySEC). FXTM has also offices in the UK and Mauritius.
FXTM offers trading with leveraged CFDs in different asset classes; forex, metals, commodities, indices, FX indices, stock baskets, stocks CFDs (on MT5 only) and stocks, with low spreads and fast execution speeds. Trading with FXTM can be done via 2 trading platforms – MetaTrader 4 and MetaTrader 5, and with 3 accounts types, tailored to suit every type of trader and trading strategy.
Each account is priced differently to match investors’ needs, with a minimum deposit of just €/£/$10 and with a maximum leverage of 2000:1 (1000:1 on the Micro account). On top of that, FXTM offers international investors the possibility of depositing into the trading account with nearly 50 different funding methods, with zero fees and instant withdrawals.
Negatively, by the end of February 2021, Forextime Ltd (regulated by the Cyprus CySEC) decided to cease its services for retail investors, leaving loyal customers without an alternative option. Currently, the FXTM Cyprus entity only provides trading accounts to investors classified as professionals.
Please note that, according to ESMA regulations, professional clients will not be covered by the NBP and Investor Compensation Fund safety mechanism.
FXTM (Forextime) Regulation / Money Protection
|Company||Licenses & Regulations||Max. Leverage Retail Clients|
|Exinity UK Ltd||up to £85,000||30 : 1|
|Exinity Limited||1000 : 1|
|FXTM Global||1000 : 1|
International regulation: Exinity Ltd, and trading as FXTM, is the counterparty for international customers and is supervised by the Mauritius Financial Services Commission (MFSC). Exinity Ltd, with a registered address on the 5th floor, 355 Nex Tower, Rue du Savoir, Cybercity, Ebene 72201, Mauritius is regulated by the MFSC with an SEC-2.1B Investment Dealer (Full Service Dealer Excluding Underwriting) licence, number C113012295. FXTM international website is www.forextime.com.
Please note that FXTM Mauritius does not provide its services to residents of the EEA, USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus, Hong Kong and other countries whose domestic regulations classify such investment offerings as prohibited.
United Kingdom regulation: Exinity UK Ltd is a financial services company registered in England and Wales under number 10599136. This entity has a registered office at 1, St. Katharine's Way, London, E1W 1UN, United Kingdom, and is authorised and regulated by the UK’s Financial Conduct Authority (FCA) with firm reference number 777911.
The FXTM UK entity accepts applications from retail investors residents in several countries (including residents of the EEA). FXTM UK’s website is www.forextime.com/uk.
European regulation: Forextime Ltd, with address at 35, Lamprou Konstantara Street, FXTM Tower, Kato Polemidia, CY-4156 Limassol, is a financial services company registered as a Cypriot Investment Firm (CIF) under number 310361. Forextime Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) with licence number 185/12.
The CySEC licence allows Forextime Ltd to offer online financial services in Europe (currently, only available for investors classified as professional), according to the guidelines set out on the MiFID document. Forextime Ltd European website is www.forextime.com/eu.
Client Money Protection
FXTM complies with the highest standards regarding client money protection. Therefore, the broker client’s funds are kept in tier-1 banking institutions, in segregated accounts.
FXTM also complies with the client money handling rules and employs strict policies and procedures regarding the maintenance and operation of these accounts. FXTM holds the client's money separately from the company funds and does not use these funds for any company operational expenses or purposes.
Currently, only Exinity UK Ltd offers a retail deposit compensation scheme. Exinity UK Ltd is a member of the Financial Services Compensation Scheme (FSCS), an independent compensation fund of last resort for retail clients of authorised UK financial services firms.
If Exinity UK Ltd has stopped trading, or has declared to be in default, or/and is unable to pay claims against it, retail clients might be entitled to compensation, up to the value of £85,000, per claim.
Negative Balance Protection
The Exinity UK Ltd entity offers a default Negative Balance Protection mechanism for retail accounts, in compliance with the FCA regulations. With the NBP mechanism, customers of Exinity UK Ltd are protected from any losses bigger than their original investments, in cases of extreme market volatility.
For customers opening an account with Exinity Limited (the Mauritius FSC regulated entity), FXTM declares: “… it is a usual practice for us to correct negative balances, however, this is done on a discretionary basis and we evaluate the request's case by case.”.
Thus, we can conclude that the NBP mechanism is not offered by default and traders might incur losses bigger than their original investments.
FXTM (Forextime) Cashback rebates
|Forex||$4.00 Per Lot||25% Of Commissions Paid||$5.00 Per Lot|
|Metals||$4.00 Per Lot||25% Of Commissions Paid||$5.00 Per Lot|
Monthly Cash Back
|Forex||$4.00 Per Lot|
|Metals||$4.00 Per Lot|
Monthly Cash Back
|Forex||25% Of Commissions Paid|
|Metals||25% Of Commissions Paid|
Monthly Cash Back
|Forex||$5.00 Per Lot|
|Metals||$5.00 Per Lot|
Monthly Cash Back
- Positions open less than 1 minute
- Stocks Account
- Accounts registered with: CySEC, South Africa FSCA entities
What are FXTM (Forextime) rebates?
Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.
How do FXTM (Forextime) rebates work?When you link a new or existing forex trading account to us the broker pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us.
Unlike some of our competitors your spreads will never increase as a result of using our service! The only difference is: as our client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, we are the original and leading provider of forex rebates. We pay rebates to over 100,000 accounts and traders love our helpful 24 hour live chat, telephone and email support.
How much FXTM (Forextime) rebates can I earn?
Are FXTM (Forextime) rebates a scam; do my spreads increase?
When working with a trustworthy rebate provider, there is no ‘catch’. It is more beneficial to a trader’s financial position to work with a rebate provider than solely with the forex broker.
Are there any other benefits to signing up for FXTM (Forextime) rebates?
How are forex rebates paid?
Because we deal with so many traders in so many different countries and serve 23 languages we have to cover a wide array of options. Here’s what we offer:
Forex rebate options vary per broker:
|Monthly cash back||Payments are credited and sent automatically by the 12 of the month following the month rebates are earned in.|
|Spread or commission reduction||The trader actually receives reduced commissions and/or spreads. This is an exciting option offered by some of our top brokers.|
|Paid direct to brokerage account||Cashback is credited directly to the trader’s brokerage account, typically between 1-7 days after the trade is closed. This is another exciting options offered by some of our top brokers.|
In the case of the ‘Monthly cash back’ rebate option, monthly payments can be paid via bank wire, Paypal, Skrill, Sticpay, China Unionpay, and Neteller. Some payment methods such as bank wire carries fees and often traders set a custom minimum payment amount in order to accumulate rebates and withdraw their rebates less often than monthly.
FXTM (Forextime) Profile
|Company Name||ForexTime Limited / Exinity UK Limited / Exinity Limited|
|Office Locations||Cyprus, Mauritius, United Kingdom|
|Account Currency||EUR, GBP, USD, NGN|
|Support Languages||Arabic, Chinese, English, French, Indonesian, Italian, Korean, Polish, Russian, Spanish, Thai, Vietnamese, Czech, Farsi|
|Funding Methods||Bank Wire, FasaPay, Neteller, QIWI Wallet, Skrill (Moneybookers), Yandex, Webmoney|
|Financial Instruments||Forex, Shares, Indices, Oil/Energies, Metals|
Established in 2012, and with offices in Cyprus, the UK and Mauritius, FXTM offers 3 account types, the Micro, ideal for novice traders, requiring a very small deposit, the Advantage Plus, and the competitively priced Advantage, suitable for professional investors.
FXTM is the trading brand of Forextime Ltd, a financial services company supervised and regulated by the Cyprus Securities and Exchange Commission (CySEC) and holding an Investment Services and Ancillary Services licence, since 13/12/2012.
The broker provides online trading services in leveraged CFDs, giving customers and investors the potential to generate financial returns on both rising and falling prices with different financial instruments; FX, indices, commodities and stocks.
FXTM product offering and services are available to a wide range of customers, including retail investors and professional traders, and also introducers and affiliates. A special note here, for the excellent FXTM Invest, the broker’s proprietary Copy Trading platform, available for Strategy Managers and Investors.
Trading with FXTM can be done via both MetaTrader platforms, the MT4 and the next-gen MT5, (except the Micro account, only with MT4), with both trading platforms available on Web Trader version, compatible with several internet browsers – and without the need of downloading or installing anything.
The FXTM MT4 and MT5 are also available for desktop terminals running Windows (min. Win 7) and macOS, and with the mobile versions for Android and iOS. FXTM also provides a proprietary platform, the FXTM Trader, a forex & CFDs trading platform and account-managing app all in one, available for iOS and Android only, with 250+ tradable instruments and ideal for trading on the go.
FXTM (Forextime) Asset classes
FXTM trading platforms provide traders with access to liquidity from multiple venues and multi-asset trading – FX and CFDs on several financial instruments. But FXTM goes the extra mile and combines an exciting offer of CFDs and shares trading, plus in-house developed indices and stocks baskets.
FXTM offers a great selection of more than 1,600 assets to trade, divided into 4 asset classes: forex, indices, stocks and commodities.
FX market: 63 currency pairs, including all major pairs, and some minor and exotic crosses.
FX indices: 6 FX indices CFDs including AUD, EUR, GBP, and USD.
Indices: 11 global and very liquid indices CFDs, including the AUS200, UK100, GER40 and JP225.
Stocks: 793 stocks CFDs of US, Hong Kong and European companies and banks, including Apple, Amazon, VW, Airbus and Microsoft. FXTM stocks CFDs offering is composed of 49 European stocks CFDs, 424 US stocks CFDs and 320 Hong Kong stocks CFDs.
Also available for trading, but with a 1:1 leverage only, 424 US stocks and 320 Hong Kong stocks – pretty much the same CFDs offer as above. Please note, these are shares, not CFDs, so, long positions only and investors will need the full equity amount to buy the position.
Stocks baskets: 5 stocks baskets CFDs, customized into indices by FXTM in-house market experts, including Green, Social and Mobile baskets.
Commodities: 8 commodities CFDs available for trading; 5 metals (Gold and Silver versus several currencies) and 3 energies; UK Oil, and US Oil.
Cryptocurrencies: Currently, none of the Forextime Ltd entities offers cryptocurrencies CFDs crosses for trading.
FXTM (Forextime) Account types
|Commission||None||$4.0-$20 Per 1 Million USD Traded||None|
|Mobile Platform||MT4 Mobile|
|Trading Platform||MT4, WebTrader||MT4, MT5, WebTrader|
|Spread Type||Variable Spread|
|Minimum Trade Size||0.01|
|Typical Spread||2.0 - 2.4|
|Mobile platform||MT4 Mobile|
|Spread type||Variable Spread|
|Minimum Trade Size||0.01|
|Commission||$4.0-$20 Per 1 Million USD Traded|
|Mobile platform||MT4 Mobile|
|Spread type||Variable Spread|
|Minimum Trade Size||0.01|
|Mobile platform||MT4 Mobile|
|Spread type||Variable Spread|
|Minimum Trade Size||0.01|
FXTM offers three trading accounts, developed to suit every trading strategy and traders’ needs, merged with a popular leverage limit for forex trading (up to 2000:1) and a low minimum deposit requirement to activate trading. Let’s check out each account and its features:
FXTM Micro account is best suited for novice investors looking to initiate an exciting trading career and trade only with the bid and ask prices, without any extra costs. The advantage of the FXTM Micro account is that allows access to the real FX market, and lots are all in cents, allowing the trading with very little capital.
The spreads of the FXTM Micro account are floating, starting at 1.5 pip for major pairs and with no commissions. The Micro account is available only with the MT4 platform, can be opened with a maximum leverage ratio of 1000:1 and with a low initial deposit of just 10 USD/EUR/GBP.
FXTM Advantage Plus account is suitable for all traders looking to trade a variety of markets with just the bid and ask prices, without any trading commissions. Spreads are also floating, starting at 1.5 pip on major FX pairs, the minimum deposit starts at 500 USD/EUR/GBP and the maximum leverage ratio available is an incredible 2000:1.
FXTM Advantage account is an almost twin account of the previous one, best suited for all traders looking to save on the trading costs, with lower spreads, in return, paying a trading commission. Spreads are also floating, starting at 0.0 pip on major FX pairs (EUR/USD average spread is 0.2 pip, for example), but with a trading commission of $4.0 per lot (depending on the traded instrument) or $20 per 1 million USD traded. The minimum deposit also starts at 500 USD/EUR/GBP and the maximum leverage ratio available is also 2000:1.
FXTM also proposes swap-free accounts for traders of Islamic belief, but there is also a swap-free option on all accounts, except for accounts with the MT5 and on exotic currencies, that traders can activate directly from the client dashboard.
Plus, for those with a really good trading strategy, or for investors looking to copy trading more experienced traders, the broker offers the excellent FXTM Invest proprietary platform. The FXTM Invest platform gives strategy managers the flexibility needed to boost their earnings by allowing others to follow their trading positions. With a generous profit share of up to 40%, customisable trading conditions, and social media channels integration of the trading stats to grow the portfolio of followers, the FXTM Invest program could represent a great opportunity for talented traders and money managers.
With regards to leveraged forex trading, FXTM maximum leverage ratio is 30:1, with FXTM UK (up to 300:1 for traders classified as professional) and FXTM maximum leverage ratio is 2000:1, with FXTM Mauritius.
Currently, FXTM trading accounts are available in USD, EUR, GBP and NGN – subject to account specifications and the client’s jurisdiction.
FXTM (Forextime) Demo account
With an FXTM (Forextime) demo account traders can test how this CFDs broker compare against its peers, for its product offering and trading conditions. An FXTM (Forextime) demo account is also a great way for novice traders to practise their trading skills in a safe environment, without risking real money.
Opening an FXTM (Forextime) demo account takes around 5 minutes, and new users will need to register as an individual client with the broker by filling in a simple form. The information required is basic; name and surname, country of residence, mobile phone, a valid email address and finally create an account password. Please note that to open a demo account, traders do not need to upload any verification document(s) to FXTM (Forextime), unless they are ready to open a live account.
After filling in all the required information users will need to verify via SMS or email, receive a PIN and enter it on the form. After that, users will need to click the “Register” green button, and this action will open the FXTM (Forextime) dashboard. The broker will also send an email with all the login details for the account.
On the client dashboard, new users can find the “Accounts” tab. Clicking that tab will expand to show all the available options. Follow the steps to open a new demo account. All it remains is to download the selected trading platform, install it on the machine and log in, or, install one of the mobile versions available on Google Play Store and Apple Store.
FXTM (Forextime) demo account gives users the chance to test the broker's services and pricing on several financial instruments – guaranteed by the broker to replicate real market conditions, without risking any real money. The FXTM (Forextime) demo account can be tested for an unlimited period, as it is non-expiring and it is 100% risk-free. The funds are virtual and all the trades executed on the FXTM demo account, both profitable trades and losses, are also virtual, of course.
Register for free and test your trading strategies, open a FXTM (Forextime) demo trading account with no risk and no obligation now.
FXTM (Forextime) Pricing
|EUR/USD Spread||from 1.5 pip||from 0.0 pip||from 1.5 pip|
|EUR/USD Commission (1 lot)||$0||from $4.0-$20 per 1 million USD traded||$0|
|EUR/USD Swap rate
Spreads and trading commissions
FXTM’s overall cost of trading and spreads are in line with the other players in this industry, and the Advantage account can be a very competitive account, for its trading commissions and spreads. The starting spread for the most popular cross, the EUR/USD pair, on the Advantage MT4 and MT5 account starts at 0.0 pip – with an average spread of 0.2 pip, plus a volume-based commission of $20 per 1 million USD traded.
And you are probably wondering how much is that $20 per 1 million USD traded commission in reality, and practical terms. Well, there’s a simple formula to help calculate the trading commission of the FXTM Advantage account:
So, assuming that a trader has an account in USD, with equity below $3,000 (yes, FXTM offers lower commission rates based on the account equity), with a trading volume below 100 million USD. The trading commission will be $20 per 1 million USD traded – higher account balances, lower trading commissions, please refer to the FXTM commissions web page.
Now, the trader wants to buy a 0.10 lot of EUR/USD at market price, currently at 1.15965. So, using the formula above we will have (0.10 x 10,000 x 1.15965) / 1,000,000 x 20 x 2. The result: buying 0.10 lot EUR/USD at 1.15965 will cost $0.0463 in trading commissions. For 1 standard lot (100,000 currency units) the trading commission will be $4.63.
Of course, the higher the price of the EUR/USD the higher the trading commission, but still, even if the EUR/USD was at 1.40, the FXTM Advantage account trading commission would be just $5.60, well below the industry average of $7.
Undoubtedly, the FXTM Advantage account trading commission is one of the lowest we can find in this industry. To confirm our statement, and to see how much it costs in total to trade 1 lot of EUR/USD, for example, we will convert the current trading commission of $4.63 into pips and add the average spread. So, the result is 0.46 pip, plus, with an average spread of 0.2 pip, the total cost of trading 1 lot of EUR/USD with the Advantage account is 0.66 pip – quite advantageous indeed.
The same cannot be said regarding the Micro and the Advantage Plus accounts. Without any trading commissions, but with a starting spread of 1.5 pip on both accounts for the FX majors, we consider the cost of trading of these accounts to be just average when compared with other top brokers.
FXTM swap rates, as of 10-11-2021, and for the EUR/USD, stand at -6.90 for holding overnight a long position of 1 lot and at -0.30 for holding overnight a short position of 1 lot, with a 3-day swap charged on Wednesdays. We consider FXTM’s swap rates to be average when compared with the rollover rates offered by other top brokers.
But, ideal for day-traders, and to save further on the trading costs, there is also an option on the client portal (dashboard) to enable swap-free on FXTM accounts. Trading accounts can benefit from a swap-free policy, in place for an average of 4 trading days, for most currency pairs – this swap-free option is available to all traders, not just traders of Islamic belief.
FXTM (Forextime) Deposits / Withdrawals
Deposit fees: Trading accounts can be opened in 4 different fiat currencies (USD, GBP, EUR and NGN – subject to jurisdictions) and maintained via 47 funding methods; debit/credit cards, local bank transfers, and also with the most popular e-wallets, including Fasapay, Perfectmoney, Neteller or Skrill.
FXTM does not charge any deposit fees, however, deposited funds via any accepted funding method might incur charges from the sending bank, e-wallet or service provider.
Minimum deposit: Opening a trading account with FXTM can be done online, taking around 10 minutes to complete the required forms and submit the ID confirmation documents. Currently, FXTM minimum deposit requirement to open a live account is €/£/$10 for the Micro account and €/£/$500 for the Advantage accounts.
Withdrawal fees: Regarding withdrawals (processing times vary from instant to 4 working days), FXTM does charge a fee. The withdrawal fee depends on the trader’s jurisdiction and the deposit/withdrawal method chosen (some withdrawals have no commissions). For more information, please visit the FXTM deposit and withdrawals dedicated page.
Inactivity fee: Currently, FXTM reserves the right to charge an account maintenance fee where there is a lack of trading activity on the account. When an account has been deemed inactive (no trading activity) for 6 months, FXTM will apply an inactivity fee of €/£/$5.
FXTM (Forextime) Popularity
FXTM’s enjoys great popularity with the trading community, mainly with traders from Africa and Southeast Asia. With several thousand accounts opened in nearly 10 years of business, FXTM does have its fair market share and has managed to capture the attention of several traders – especially with the recent revamp of its trading accounts specs, pricing and the upgrade of the range of markets offered.
But the accepted base account currencies range is not the best. FXTM only accepts 4 base currencies (with the NGN account exclusively for Nigerian traders), meaning that global traders will need to have deposited funds exchanged to one of the broker's accepted currencies – EUR, USD and GBP.
FXTM has several important features to boost its popularity to higher levels, mainly, the competitive pricing with the Advantage account, no fees on deposits, the excellent FXTM Invest copy trading platform and a great range of trading education materials and tools.
Also, FXTM accepts deposits with 47 different funding methods, especially focusing on local bank transfers for traders in Africa, Asia and Southeast Asia regions. FTXM allows investors to fund a trading account with Southeast Asia Online Banking, Moroccan Local Transfer, Sub-Saharan Africa and Dubai Local Transfer, Local Banking China, Latin American Local Transfers and Local Indian Solutions just to name a few, with a very low initial deposit of just 10 currency units to start trading with a live account.
Popular trading account: The FXTM Advantage account (MT4 and MT5) is the popular choice with traders for its swap-free option, the offering of both popular MetaTrader platforms, and for its lower spreads with a competitive commission of $20 per 1 million USD traded for forex pairs.
FXTM also deserves some extra popularity points for their excellent and extensive range of forex and trading education materials, available through the “Education” tab on its website. FXTM clients can enrol on live webinars, seminars, download forex eBooks, watch and learn with educational videos, read and make informed decisions with FXTM fundamental & technical analysis reports, follow the market insights by the FXTM experts and make get access to FXTM trading signals.
|Research & education materials available on FXTM (Forextime) website|
|FX Courses - money management, how to trade the markets, etc.|
|Market Analysis - daily or weekly market reports|
|Webinars - live, online trading education with experts|
|WebTV - live video stream of financial news|
|Trading Videos - trading education videos|
|Trading eBooks - trading education literature|
|Trading Strategies - technical analysis strategies|
|Trading Tools - calculators, economic calendar, etc.|
|Market Signals - suggested buy/sell entries with TP and SL levels|
FXTM (Forextime) Promotions
FXTM (Forextime) FAQs
Can I open an FXTM account in Nigeria?
Yes, residents of Nigeria can open an FXTM account. The broker allows Nigerian investors to open a live trading account, choosing from Micro, Advantage and Advantage Plus. The contracted entity for residents of Nigeria is Exinity Limited, supervised and regulated by the Mauritius Financial Services Commission (FSC).
FXTM is one of the few brokers with a physical presence in Nigeria. To offer a better service and access to the financial markets to Nigerian investors, the broker has established offices in Lagos and Abuja.
FXTM Nigeria office in Lagos is located on the 3rd Floor, 5, Allen Avenue, Ikeja, Lagos. FXTM Nigeria office in Abuja is located at St. James House, 167 Adetokunbo Ademola Crescent, Wuse 2, Abuja.
FXTM customer support team is available 7 days a week, and the broker has also Training Centers in Abuja, Lagos and Port Harcourt, located at 86-88 Olu Obasanjo Road, Port Harcourt.
The FXTM Micro for residents of Nigeria requires a minimum deposit of ₦10,000 (alternatively $/€/£ 10), and the currency used for the lot size is the NGN kobo. The trading can be done only with the MT4 platform.
The Advantage and Advantage Plus accounts require a minimum deposit of ₦80,000 (alternatively $/€/£ 500) and let Nigerian residents trade on all the available asset classes, from FX to stocks, with the MT4 and MT5 platforms.
Residents of Nigeria, with a live account, can trade currency pairs and the price action of several commodities, indices, and shares in Naira. Investors can fund a trading account via a bank transfer in Naira, with local Nigerian banks, with low deposits from ₦10,000 and enjoy instant withdrawals without the conversion fees.
What are the FXTM account types?
FXTM has 3 account types, Micro (or Cent), Advantage and Advantage Plus. The broker simplified its trading accounts structure in March 2021. From a total of 7 accounts, including ECN, ECN Pro, Cent, Standard, etc, FXTM now provides only 3 account types.
With the Micro account, investors can trade several financial instruments; currency pairs, FX indices, metals, commodities and stocks baskets, with the bid and ask prices and zero commissions, via the MetaTrader 4 platform. The Micro account works like a Cent account – please note that the trading counterparty for this account is FXTM, acting as a market maker.
The Micro account has a maximum leverage of 1000:1, a minimum deposit of just $/€/£ 10, and is ideal for novice traders looking to trade the real markets without worrying too much about jumping right in with a lot of capital. It is also recommended for the testing of automated trading strategies, to see how an EA will behave and perform under real market conditions, always without risking a lot of money on a trading account.
With the Advantage account, investors can trade the same financial instruments of the Micro account (FX, FX indices, metals, commodities and stocks baskets) but also indices, stocks CFDs and Shares (stocks CFDs and Shares only on MT5), with spreads from 0.0 pip, but paying a trading commission, via the MetaTrader 4 and 5 platforms.
The Advantage account has a maximum leverage of 2000:1 (floating), a minimum deposit of $/€/£ 500, and is ideal for more experienced traders looking to trade the markets with good executions – with the Advantage account orders are processed automatically in milliseconds and at market price.
The spreads are typically zero on some of the most traded currency pairs in the world, including the EUR/USD and EUR/GBP, and as low as zero on XAU/USD, but FXTM charges a volume-based commission of $20 per 1 million USD traded, with an average of $0.40 - $2 per $100K notional value.
The Advantage Plus account offers near-identical trading conditions as the Advantage account. Investors can trade the same range of financial instruments commission-free, but with wider spreads, on both MT4 and MT5 platforms (stocks CFDs and Shares only on MT5).
The Advantage Plus account has also maximum leverage of 2000:1 (floating), a minimum deposit of $/€/£ 500, and is ideal for more experienced traders looking to trade the markets with the bid and ask prices and zero commissions and with good executions – similar to the Advantage account, orders are processed automatically in milliseconds and at market price.
What is the FXTM Invest?
FXTM Invest is a copy trading service offered by the broker. It is an innovative way for investors to access the opportunities of trading without any technical skills, and the minimum of time.
Investors can choose to copy more experienced FXTM traders, also known as Strategy Managers, who make their trading strategies available to follow. Copy-trading with FXTM Invest lets investors retain full control of the capital, and a fee is only payable to the Strategy Manager when they make a profitable trade.
How does FXTM Invest works for investors?
Couldn’t be simpler. Investors with a live FXTM account just need to log in on the client dashboard and select the “FXTM Invest” option. Then, investors can choose a Strategy Manager that suits their risk and trading objectives, and select to copy its trades. When the Strategy Manager closes a trade in profit, the earnings are shared between the investor and a small fee is payable to the Strategy Manager.
FXTM tracks the Strategy Managers every day and rank them based on their trading performance using several quality and performance measures.
Investors can search and filter by investment return, risk profile, length of experience, trading style and more to find the strategies that suit them. With FXTM Invest investors have access to the information needed to understand the Strategy Manager’s trading potential, regarding risks and rewards.
Please remember, like, with any financial trading, past performance doesn’t guarantee future returns.
How does FXTM Invest works for Strategy Managers?
The FXTM Invest for Strategy Managers enables them to boost earnings by allowing others to follow the trading strategies.
The innovative FXTM Invest copy trading service allows experienced traders to earn additional profits when other investors start to follow, and copy, the Strategy Manager’s account and trades. The Strategy Manager will start receiving a share of the portion of the profits (up to 40%), also called a Profit Share.
To register on FXTM Invest as a Strategy Manager, simply open an Advantage or Advantage Plus account, make a deposit and start trading. Then on the client dashboard, register the trading strategy, wait for approval from FXTM, and when live, share it (even on social networks).
FXTM created a dedicated space for Strategy Managers where trading statistics are automatically displayed in appealing detail, and ready to be shared across multiple social channels
Then, if all goes well, successful Strategy Managers will receive a percentage of the investors’ profits – successful Strategy Managers will rank higher and get more exposure, and more profits. Strategy Managers will have one execution price for all of the copied trades, with no hidden fees.
What is the FXTM trading platform?
The FXTM trading platform (FXTM Trader) is the broker’s proprietary platform, allowing registered users, with a live account, to trade over 250 financial instruments markets on the go.
With the FXTM trading platform traders can open and close positions in seconds, access live currency rates, manage the trading accounts, stay one step ahead of the markets with important news, and even access FXTM trading signals by market experts.
The app allows for the trading of forex (majors, minors and exotic currency pairs), spot metals with Gold and Silver, shares CFDs on 180 major company shares, CFDs on commodities including UK Brent (Spot), US Crude (Spot) US Natural Gas (Spot) and CFDs on indices, including prominent securities in the US, Europe, Australia and Asia.
With the FXTM Trader app, users can keep track of the account balance, profits and the latest rates on a super-secure and safe app. The app is also useful for unlimited access to the MyFXTM, letting users deposit, withdraw and monitor the account/wallet funds in seconds.
The FXTM trading platform is available for existing clients and new clients, even those who just want to try it out – simple register with FXTM, open a demo account, download the app, install it and log in. The FXTM Trader app is available for iOS and Android mobile devices.
What is the FXTM minimum deposit?
FXTM minimum initial deposit is 10 USD, GBP, EUR and NGN (for residents of Nigeria only) for the Micro account. FXTM minimum initial deposit is 500 USD, GBP, EUR and NGN (for residents of Nigeria only) for the Advantage and Advantage Plus accounts.
Subsequent deposits into an FXTM trading account vary, and limits are set by the payment providers individually.
As a regulated broker, FXTM takes the safety of client funds seriously, and for this reason, all client deposits are fully segregated from the company’s funds and kept in separate accounts with tier-1 banking institutions.
FXTM accepts account deposits via local bank wires in AED, AFN, BDT, BIF, BRL, CLP, CNY, COP, DZD, EGP, GHS, IDR, ILS, INR, IQD, KES, LAK, MAD, MXN, MYR, NGN, PEN, RWF, SAR, SDG, SOS, THB, TRY, TZS, UGX, UYU, VND, XAF, XOF, YER, ZAR, and ZMK.
Traders can also deposit via credit/debit cards (EUR, GBP, USD), and with the most popular e-wallets; Neteller (EUR, INR, GBP, NGN, PLN, USD), Skrill (CZK, EUR, GBP, PLN, USD), Webmoney (EUR, RUR, USD), Perfectmoney (EUR, USD), and TC Pay (AED, EUR, USD).
*Please note that except for the NGN for Nigerian traders, all the other currencies will be converted to the accepted account currencies (USD, EUR, GBP).
Deposits in different currencies to the accepted account currencies, i.e., AED to USD, or TRY to GBP, will be converted as per the exchange rates of the payment provider/bank. FXTM does not accept third-party account deposits, the name of the sender must match the name of the user registered with FXTM.
FXTM does not charge any fees/commissions for account deposits however, bank wire deposits may be subject to fees by the sender’s bank. Deposits to FXTM trading accounts are processed instantly, except for bank wire transfers, subject to banking schedule, on average 1 to 2 business days.
FXTM review - final considerations.
We conclude our FXTM review with the final considerations regarding this CFDs broker. FXTM stands out from its competitors for its Advantage account, with extremely competitive pricing, including the swap-free option, ideal for day traders, and a complete range of financial instruments.
Also positively, the minimum deposit required to open a Micro live account is very low, $/£/€10, and with this account type, FXTM offers the perfect solution for novice traders to try their trading skills on real market conditions, without risking a fortune. The broker also earns some popularity points with the trading community for the vast range of accepted funding methods, with a highlight on local bank transfers in the African and Asian continents.
The ECN trading environment offered by FXTM, with good execution speeds, allows for reliable transactions, with instant execution and order filling with no requotes and no conflict of interest. FXTM clients are also offered an excellent range of trading platforms, the FXTM Trader (available only for mobile devices), the MetaTrader 4 and MetaTrader 5, and are allowed to hedge, scalp and use automated trading systems, with no restrictions.
Negatively, FXTM charges for account withdrawals and the most popular method, cards, the fee is 2 EUR/ 3 USD/ 2 GBP. Also, impacting the broker’s negatively is its Advantage Plus account, not competitive enough for investors looking to trade just with the bid and ask prices, as the starting spread on FX majors is 1.5 pip.
Overall, the option of trading with a highly regulated entity (FXTM UK), the excellent trading platforms and trading account offered (Advantage), the possibility of funding an account with bank transfers from multiple local banking systems, the attractive zero-fees on deposits, merged with a low initial deposit of 10 USD/GBP/EUR for the Micro account, position this CFD broker on the top 15 brokers for popularity with traders opening a trading account in 2021.
FXTM (Forextime) User rating
FXTM (Forextime) reviews by verified customers, cashback rebates, expert ratings, spreads & fees, leverage, demo accounts, downloads, trading platforms and more.
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Based on user reviews from FXTM's verified customers, with a live trading account, this broker is recommended for its fast execution speeds and good spreads. Traders were also pleased with FXTM’s deposit and withdrawal processing times and some traders praised the broker’s customer service for their responsiveness and efficiency.
Negatively we couldn’t find anything worth noting. It seems that FXTM traders are quite happy with the broker, its services and what it offers to the trading community.
For over 10 years we have been a leading IB broker of forex and CFDs trading accounts to virtually all of the world's top forex brokers. One of our primary goals is also to help investors make informed decisions, by publishing accurate and unbiased content, supported mainly by primary sources.
These sources may include information supplied by the broker, government data, data available on the broker's corporate website(s), the analysis from our industry experts, and the opinions from verified traders with a live account. The information on the FXTM review page was also sourced from:
- Mauritius Financial Services Commission website, Exinity Limited, company details page.
- United Kingdom Financial Conduct Authority website, Exinity Limited UK, company details page.
- Cyprus Securities & Exchange Commission website, Forextime Ltd, company details page.
- FXTM global website, Legal Documents, client account opening agreements page.
- FXTM global website, Trading Accounts, trading accounts comparison page.
- FXTM website, Trading Instruments, financial instruments overview page.
- FXTM website, FAQs on products & services, frequently asked questions page.
- FXverify website, FXTM user reviews by verified traders with a live account, reviews page.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Check the FXTM website at www.forextime.com/uk for the percentage (%) of retail investor accounts losing money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Regional Restrictions: The FXTM brand does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus and Hong Kong.