FXTM, also known as Forex Time, is an online forex and CFD broker established in 2011. Since then, the broker has grown significantly, building on its excellent reputation among its global base of traders. The broker is based in Cyprus and is regulated by the Cyprus Securities and Exchange Commission for its EU operations, with other regulators also providing regulation for other jurisdictions.

The firm's FXTM brand is focused on the European Union, Africa, and Asia and is considered one of the top forex brokers in the areas where it operates. Focusing on reliable trading conditions and trader education brings accessible trading regardless of the trader's knowledge of markets and trading.

Traders will find account opening a breeze, and the customer service at FXTM is known to be professional and knowledgeable.

The broker has three account tiers, which is a good offering, and minimum deposits begin at a low $10. Spreads, commissions, and execution depend on the account tier and the available trading instruments. That said, traders can expect at a minimum to have access to forex, commodities, metals, forex indices, and stock baskets. Higher tiers also have access to stocks and stock CFDs.

The trading platforms used are the award-winning MetaTrader 4 and MetaTrader5, which any experienced trader should be familiar with. Also available is a newly released proprietary FXTM mobile app, which can be downloaded for either Android or iOS devices.

The rest of this review will detail the offerings, accounts, and conditions available from FXTM.

Regulations

FXTM is regulated by multiple regulators in multiple jurisdictions, protecting clients no matter where in the world they reside and trade.

CySEC of Cyprus regulates the main entity ForexTime Ltd with CIF license number 185/12, authorized by FSCA of South Africa with FSP No. 46614 and other offshore authority FSC in Mauritius an Investment Dealer License with license number C113012295. Also, the FXTM UK brand is authorized and regulated by the Financial Conduct Authority with license number 777911.

These licenses and regulators keep FXTM in compliance with all regulatory requirements and protect client funds through complete segregation of client and operational funds. Additionally, all funds are kept secure in leading European banks.

Finally, FXTM is a member of the Investor Compensation Fund, which will compensate clients for company insolvency. Furthermore, clients receive negative balance protection, and the regulatory authorities audit the broker regularly.

Account Types

Clients can choose from three different accounts at FXTM, with the minimum deposit beginning at $10. The three account tiers are Micro, Advantage, and Advantage Plus. Each has other conditions, which I'll go into further detail concerning below.

The Micro account is meant for beginners, with a low minimum deposit of $10 and zero commissions. Spreads start at 1.5 pips, which isn't the best I've seen, but neither is it the worst. The micro account gives traders access to forex, metals, commodities, forex indices, and stock baskets. The only platform available with this account is MetaTrader 4, and there are also limits on the number and amount of trades you can have open or pending at any time. Leverage goes as high as 1:1000, and execution is instant—overall, a good starter account.

The following account tier is the Advantage account. It has a $500 minimum deposit and comes with spreads at 0 pips but instead uses a commission-based structure. The commissions are reasonable, ranging from $0.40 to $2.00 per $100K notional value, depending on the trading volume. In addition to the assets available in the Micro account, the Advantage account also adds stocks and stock CFDs. Again, clients can choose from MetaTrader 4 or MetaTrader 5 as the trading platform, although stocks and stock CFDs are only available with MT5. Leverage goes as high as 1:2000, and execution is market.

Finally, the Advantage Plus account is nearly identical to the Advantage account, with one key difference. Rather than being commission-based, it has $0 commissions, but traders must contend with a spread that starts at 1.5 pips.

Available Assets

FXTM gives its clients access to six major asset classes, including the popular asset class of cryptocurrencies.

These are the major asset classes available:

· Forex – Clients can trade all the majors to minors and some exotic pairs.

· Forex Indices – An FX index is composed of 5 or 6 major pairs and measures the strength of a particular currency against a collection of other major FX pairs.

· Stock Baskets – Invest in stocks baskets composed of popular industries, including social media, aerospace, mobile, etc.

· Metals – Trade spot gold and silver prices against major currencies.

· Commodities – In addition to trading precious metals, clients can also trade on energy contracts.

· Stocks and Stock CFDs– With access to some of the biggest stock exchanges in the world – NASDAQ, NYSE, and HKEX among them – you can trade share prices from some of your favourite brands.

Trading Platforms

At FXTM traders can take Advantage of the award-winning MetaTrader 4 and MetaTrader5 platforms, which are considered the gold standard by forex and CFD traders. This MetaTrader combination is the most widely used platform still. That's because they both come with powerful charting and analysis tools, including the ability to use a huge variety of plugins and Expert Advisors that can help to automate trading.

MetaTrader 4 - MetaTrader4 is one of the first platforms to be used widely, and since its launch in 2005, it has been used by millions of traders to analyze the markets and build trading strategies. Still a favorite of forex traders, the power of MetaTrader 4 cannot be denied. MetaTrader 4 is offered with the Micro, Advantage, and Advantage Plus accounts and can be used as a desktop, mobile, or web app.

MetaTrader 5 - MetaTrader5 is the updated version of the award-winning MetaTrader 4 platform. It was designed to include the trading capability for CFDs, stocks, and other assets besides forex. It is also extremely popular and one of online brokers' most frequently offered platforms. MetaTrader 5 is offered with the Advantage and Advantage Plus accounts and can be used as a desktop, mobile, or web app.

FXTM Invest

The FXTM Invest program is FXTM's version of copy trading. It allows its clients to connect with other traders and copy their actual trades. These traders are known as "Strategy managers," and using their expertise can help develop a more successful trading strategy. Strategy managers are tracked by FXTM and their results are posted every day for all to see. That way you can find the Strategy managers who are performing the best, and who meet your own risk profile. It's also good to know that using these Strategy managers costs you nothing, unless they share a winning trade. In that case it costs just a small slice of your profits. That's fair since without them you might not have profits at all.

Education and Research

FXTM is proud of the education and research offerings it provides to its clients. Its analysis team produces a number of reports, including a daily research report. In addition there are market analysis videos and even a market analysis podcast. Traders can also take Advantage of ebooks and trading signals to build on their education.

Customer Service

Support is available on a 24/5 basis, which is consistent with the online broker space. Customer service can be contacted via an online chat function, through email, or via telephone.

Phone: +44 20 3734 1025 (Additional country specific numbers available)
Email: support@fxtm.com

In Conclusion

When looking for a new broker, it's always good to see a long history of success, and with eleven years in business and a global client base, FXTM certainly ticks that box. It's also great to see the solid regulatory presence, and the protection for clients.

Most clients are likely familiar with the MetaTrader 4 and MetaTrader 5 platforms, making the learning curve flatter. And having access to a wide array of research and educational materials will help any trader improve their skills.

We like the focus on a limited number of account types, with very low minimums accessible by anyone. It goes well with the company's mission. Considering the lowest minimum is just $10, anyone can start trading right away and test the conditions at FXTM.