Regulation
FXTM is a trading name of ForexTime Limited, which is licensed and regulated by the Cyprus Commodities and Exchange Commission (CySEC) as a Cypriot Investment Firm. CySEC applies a set of rules and requirements to license holders, which are not as stringent as in US or Switzerland, for instance, yet they provide a certain level of security.
Client funds must be held in segregated accounts and regulated entities are required to report to the Commission on a regular basis. The Commission requires Cyprus-based forex brokers to hold at least €730 000 as a proof of financial stability. Furthermore, CySEC applies a compensation scheme as an additional guarantee to clients’ funds. All CySEC-regulated companies are members of the Investor Compensation Fund, able to provide compensations to a maximum of 20,000 EUR per person in the event of broker insolvency.
Trading conditions
– Very low minimum initial deposit ($5);
– High leverage levels available – up to 1:1000.
– Tight spreads; at ForexTime (FXTM) spreads start from 1.3 on the Standard account and from 0.1 and 0.2 pips on the ECN MT4 and ECN MT5 accounts
– Micro, mini and standard lots are available on all account types;
– Hedging, EAs, and scalping strategies are permitted.
Trading Platforms
FXTM supports the MT4 and MT5 – two of the most popular forex trading platforms. The broker also offers mobile versions for both of them (for iOS & Android devices) and makes regular updates. MT4 is still preferred by most brokers and experienced traders. It provides an advanced charting package, lots of technical indicators, extensive back-testing environment and a variety of Expert Advisors (EAs). Thanks to its ease of use, MT4 is also suitable for beginner traders, for they can also find their way around it quite easily.
Website features
Deposit/withdrawal methods and fees
FXTM offers a various secure and trusted payment methods. Including credit/debit card payments, Bank Wire transfers, and numerous E-wallets, such as Skrill, Neteller, Alsfa-Ckick, WebMoney, Western Union, Payza, dotpay, Yandex and Qiwi.
Media
