Introduction
FXTM (ForexTime) is an innovative forex brokerage that incorporates a robust education and client-centric service into the trading experience. Founded in 2011, FXTM has emerged as a pioneer not only in the greater financial trading industry but also has expanded its global reach and notoriety in the forex trading market.
The objective of this article is to provide a comprehensive overview of FXTM's features, regulatory fundamentals, and overall market position as an offering for potential trading clients and industry enthusiasts.
FXTM continues to focus on democratizing trading opportunities and experience through extensive education and multiple account types. It has established itself in a highly competitive market with strict regulatory compliance & transparency. Several aspects of FXTM will be outlined to demonstrate their relative advantages for trading clients worldwide.
Background and History
Founded in 2011 by Andrey Dashin, a well-respected name in the forex trading industry, and a co-founder of Alpari. FXTM is based in Limassol, Cyprus, and has gained significant notoriety for its commitment to clients and education. Olga Rybalkina is also known to have been influential in the brand's foundation and early development as CEO.
In recent years, FXTM has expanded its influence through Europe, Asia, and Africa with trust, access, and value as part of its founding principles. The mission to democratize trading opportunities has worked in FXTM's favour as it continues to grow in the market.
Key Features and Offerings
FXTM offers a diverse array of trading platforms, account types, and instruments for traders of all skill levels. FXTM clients can access either MetaTrader 4 (MT4) or MetaTrader 5 (MT5), both of which are well known for their advanced charting and support for automated trading.
Account Types and Instruments
FXTM now offers a range of accounts, including Standard, Cent, ECN, ECN Zero, and Pro. FXTM also offers its clients a wide range of instruments, including forex pairs, commodities, indices, stocks, and CFDs.
Unique Features
One of the distinguishing features of FXTM is its access to extensive educational materials from webinars, seminars, and e-books. FXTM also has a proprietary copy trading service. Additionally, FXTM offers demo accounts that clients can access to enhance their trading experience while observing their trades in real time, as well as swap-free (Islamic) accounts.
Regulatory Compliance and Licensing
FXTM operates within a strong regulatory framework to protect clients and ensure transparency. FXTM also operates under numerous regulatory authorities to ensure clients' peace of mind.
Regulator | License Number | Status |
|---|
Cyprus Securities and Exchange Commission (CySEC) | 185/12 | Active |
Financial Sector Conduct Authority (FSCA), South Africa | 46614 | Active |
FXTM ensures client fund security by segregating client funds from company funds and providing additional insurance coverage for eligible clients.
Trading Conditions and Platform Technology
FXTM offers competitive trading conditions and cutting-edge platform technology, enhancing the trading experience for its clients.
Feature | Details |
|---|
Spreads | From 0.1 pips on ECN accounts |
Leverage | Up to 1:30 for retail clients under CySEC |
Minimum Deposit | $10 for Cent accounts |
FXTM's platforms, MT4 and MT5, are available for desktop, web, and mobile, offering advanced charting, technical indicators, and copy trading features.
Fee Structure
FXTM maintains a transparent fee structure, ensuring no hidden costs for its clients.
Fee Type | Details |
|---|
Deposit Fees | No deposit fees |
Withdrawal Fees | No withdrawal fees for most methods |
Inactivity Fees | $5 per month after 6 months of inactivity |
Even though FXTM does not charge deposit or withdrawal fees, there are potential third-party transaction fees. ECN accounts incur commissions.
User Experience and Reputation
FXTM is known for its focus on education, support, and the reliability of its trading platform. Still, some users reported issues with both withdrawal and customer service response times in select areas.
The firm has won several industry awards, including "Most Educational Broker" and "Best Trading Experience," demonstrating its ability to deliver a positive trading experience.
What's New
FXTM is consistently innovating and democratizing its service, with new updates planned primarily around desktop education and mobile trading features. The broker is already working towards emerging markets, specifically Africa and Asia, with education and marketing initiatives underway.
Conclusion
Overall, FXTM's regulatory compliance, variety of offerings, and user-friendly approach make it an appealing choice for traders worldwide. With its education corridor and its commitment to user transparency, FXTM strives to be a benchmark by which the forex brokerage industry is measured against an evolving client demand.
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