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.
– 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.
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.
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.