Information
Overview of Trade Forex’s Review of FXTM (Forex Time)
Introduction
Trade Forex, a prominent name in the Forex broker rating arena, presents an in-depth analysis of FXTM (Forex Time). Founded in 2011 and based in Limassol, Cyprus, FXTM has rapidly ascended to become a leading Forex broker globally. Known for its swift expansion, especially in Europe, Africa, and Asia, FXTM combines regulatory compliance with market innovation.
FXTM Regulation: A Pillar of Trust
Global Regulatory Compliance
FXTM operates under three primary entities: ForexTime Ltd, ForexTime UK Ltd, and Exinity Limited. Collectively, they cater to over 10,000 clients across more than 135 countries. ForexTime Ltd is regulated by CySEC (Cyprus Securities and Exchange Commission) and FSCA (Financial Sector Conduct Authority) of South Africa, with an offshore subsidiary regulated by the FSC in Mauritius. The UK branch holds a license from the Financial Conduct Authority (FCA), adhering to European MiFIDs and ICFs standards for cross-brokerage operations.
Client Fund Safety
FXTM distinguishes client funds from its operational finances, ensuring they are kept in reputable EU banks. Additionally, as a member of the Investor Compensation Fund (ICF), FXTM offers a safety net in the unlikely event of company insolvency.
Leverage Options: Flexible and Diverse
Adaptable Leverage Ratios
FXTM offers both fixed and floating leverage, catering to different trading preferences. High leverage options, such as 1:400, 1:500, or even 1:2000, are available in specific jurisdictions. For European and UK clients adhering to ESMA rules, the leverage is capped at 1:30 for Forex instruments, 1:20 for metals, 1:20 for exotic currency pairs, and 1:5 for stocks.
Account Types: Tailored for Every Trader
Diverse Account Selection
FXTM provides six account types, each catering to various trading styles. It’s crucial to select the appropriate legal entity from Forextime Limited, ForexTime UK, or Exinity Limited, as offerings may vary.
- Standard Account: Ideal balance with a floating spread starting from 1.3 pips, a minimum deposit of $100, and leverage up to 1:2000.
- Cent Account: Suitable for beginners, with a minimal initial deposit of $10, spreads from 1.5 pips, and cent lots.
- Stock CFDs Account: Designed for stock trading enthusiasts, featuring hedging, and spreads starting at 0.1 pips.
ECN Account Options
- ECN Zero Account: A commission-free option with a low $200 deposit, spreads from 1.5 pips, and no requotes.
- ECN Account: Includes a $2 commission per lot and tight spreads from 0.1 pips.
- FXTM Pro Account: Targeted at professionals, requiring a $25,000 deposit, offering interbank spreads from 0 pips, and a diverse asset range.
Fee Transparency
FXTM charges a $5 inactivity fee for accounts dormant for six months or more. However, deposit and withdrawal fees are waived, ensuring a transparent fee structure.
Financial Accessibility: Minimum Deposits and Bonuses
Accessible Minimum Deposits
The minimum deposit is a modest $100 for Standard Accounts and only $10 for Cent Accounts.
Bonus Programs
FXTM offers bonuses, available to international clients and those with Exinity Limited accounts. These bonuses align with ongoing FXTM promotions.
Trading Instruments: A Rich Portfolio
FXTM boasts over 250 financial instruments, including:
- Over 50 Forex currency pairs
- CFDs on major cryptocurrencies (Bitcoin, ETH, Litecoin, Ripple)
- CFDs on spot metals
- CFDs on stocks from over 170 leading companies
- CFDs on commodities and indices
Conclusion: A Broker for Every Trader
Comprehensive Offerings
FXTM stands out for its quality services, catering to both novice and seasoned traders. The variety in account types, flexible leverage options, tight spreads, and low initial deposits make it an attractive choice for diverse trading needs.
Advice for Prospective Clients
Potential clients are encouraged to read further FXTM reviews before making a decision, ensuring they choose a broker that best suits their individual trading strategies and goals.
