FXTM

FXTM (ForexTime) is an international broker offering a broad range of trading services and financial products since its foundation in 2011. The company specialises in foreign exchange trading (Forex), shares, commodities, indices and other financial instruments, and offers various account types and trading platforms to both private and institutional investors. FXTM is headquartered in Cyprus, has over 10 offices worldwide and is regulated in several countries. The company strives to offer its customers an optimal trading experience through innovative technologies and first-class customer service, no matter where they are located and what their trading ambitions may be. The broker now has more than 4 million customers in 180 countries. The company has also won more than 25 industry-specific awards since 2011.

Is FXTM a reputable broker?

FXTM is deemed a reputable broker. The company is regulated by several renowned financial supervisory authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Sector Conduct Authority (FSCA) in South Africa. This regulatory situation warrants that FXTM complies with strict standards in terms of transparency, security, and customer protection.

CySEC – Licence number 185/12

FSCA – FSP number 46614

FCA – Number 600475

All customer funds are managed in separate accounts at first-class banks and kept strictly separated from the company’s own operating funds. FXTM is a member of the Investors Compensations Fund to maximise the security of client funds.

However, it is important to note that no regulation can guarantee absolute security. It is always advisable to perform one’s own research before choosing a broker.

What is the minimum deposit at FXTM?

FXTM offers two account models: the Advantage account and the Advantage Plus account. The minimum deposit for either option is $200. This minimum deposit is not quite as great for beginners. However, they may want to begin by using a free demo account instead. Demo accounts are available for either account option.

Withdrawing money from FXTM

Deposits and withdrawals are simple and straightforward at FXTM. You need to log in to your trading account, navigate to the “Cashier” or “Withdrawals” section, select your preferred withdrawal method, and follow the instructions to withdraw money from FXTM. Supported withdrawal methods include bank transfers, credit and debit cards, and a number of e-wallets such as Skrill and Neteller. The time it takes to receive a withdrawal from FXTM will depend on the chosen method. E-wallet withdrawals are usually processed within 24 hours, while bank transfers may take between 3-5 working days and credit/debit card withdrawals between 3-10 working days.

FXTM advantages

• • Extremely tight spreads
• • Ultra-fast and reliable execution. 99.81 of trades take less than one second to execute
• • Better market prices are automatically passed on if the order can be executed more favourably
• • Flexible leverage with maximum leverage of up to 1:2,000
• • Wide range of tradable instruments. Shares, commodities, currencies, indices
• • Free demo accounts
• • Various trading platforms: FXTM (ForexTime) supports MetaTrader 4, MetaTrader 5 for all devices
• • Many free indicators for Metatrader
• • Many free training opportunities and background knowledge from FXTM experts
• • VPS Hosting

Summary

FXTM is well suited for beginners since the minimum deposits are relatively low and all account models can be tested in demo mode. The company offers extensive, free training resources. The fair trading conditions and fast execution of trades stand out particularly.