FXTM Review

The FXTM brand, also known as ForexTime, emerged in the FX and CFD brokerage space in 2011, at a time the market was in great turmoil. The Dodd-Frank Act had been passed in the US in response to the 2008 global financial crisis, and many brokers had closed their doors in the US and across the world. FXTM began in Europe and later adopted the decentralized structure of operations, targeting specific markets abroad.

I. Background and Company Overview of FXTM

FXTM operates with multiple licenses in all the jurisdictions that it operates. FXTM is also a member of the Financial Commission, which is an industry-level self regulator and ombudsman.

FXTM has a number of features that retail traders find appealing, driving them to the brand in large numbers. Some of these are:

• Passive investment channel via the PAMM account feature.
• FXTM presents a pivot points trading strategy for day traders who love to trade off the pivot points.
• Daily market analysis is provided by the in-house team.

II. Trading Platforms and Tools

The trading platforms that exist on FXTM are the MT4 and MT5 platforms.

The MT4 comes with 3 execution types and does not have partial filling of orders. However, the versions of the MT4 are the desktop clients, WebTrader and the mobile versions. The order fill policy is the Fill or Kill policy. There is no netting or market depth indicator.

The MT5 comes with 4 execution types and has a partial filling feature. There are 6 pending order types and the order fill policy is the fill or kill immediate or cancel return type. There is a market depth feature and there are 21 time frames. If you trade with FXTM's MT5, you can trade stocks or stocks CFDs.

Trading with the MT4 and MT5 are enhanced by the use of the following trading tools on FXTM:

• A Margin Calculator enables traders to calculate their risk by knowing how much they are to put up as collateral for their trades.
• The Pip Calculator provides the monetary value of any profits or losses, based on different market prices used for the stop loss and take profit settings.
• If you are copy trading on FXTM, the Invest Profit Calculator showcases the potential profit or losses based on different market prices.

III. Account Types and Spreads

Here are the account types on FXTM.

1. Micro account
2. Advantage account
3. Advantage Plus account

The Micro account is the account for transiting from a demo account to a live account. Spreads start from 1.5 pips and this is a commission-free account. The only assets tradable with the Micro account are FX pairs, metals and commodities. The minimum deposit is set at $10. Spreads are floating.

The next account level is the Advantage account, which is a zero-spread account with ECN-style conditions. Commissions are between $0.4 and $2 per standard lot, based on the volume traded. Traders with this account have an expanded asset base to trade, being able to trade indices, stocks CFDs (MT5 platform) and stocks (MT5 only). The minimum deposit is $500.

The Advantage Plus account is a commission-free account with spreads that start from 1.5 pips. The minimum deposit is $500. Other account conditions are like the Advantage account. Spreads are fixed.

IV. Contract Specifications

What are the contract specifications of the assets listed for trading on FXTM?

• Minimum order size is set to 0.01 lots, with increments of 0.01 lots.
• Hedged margin is set at 50%.
• Leverage on FXTM depends on the entity being traded, with EU and UK maximum leverage set at 1:30 for FX majors and 1:20 for FX minors. Stock CFDs come with leverage of 1:10. Maximum leverage on the global brands is 1:1000 for FX majors, 1:500 for FX minors and metals, and 1:50 for exotic pairs.
• All accounts have swap-free variations.

V. Security and Regulation

The FXTM brand is owned and operated in various jurisdictions by various entities, all under the ForexTime Group.

The EU brand is operated by ForexTime Ltd, and is regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 185/12. This branch also covers the South African market with authorization from the Financial Sector

Conduct Authority (FSCA) with FSP license number 46614.

Exinity UK Ltd operates the UK brand, and is authorized by the Financial Conduct Authority (FCA) with license number 777911.

In Africa, Exinity Capital East Africa Ltd (Kenya) and Exinity Ltd (Mauritius) cover this market. In Kenya, the company is regulated by the Capital Markets Authority in Kenya as a non-dealing broker with license number 135. In Mauritius, the Financial Services Commission authorizes the brand with Investment Dealer License C113012295.

FXTM does not offer services to residents of Japan, US, Canada, Haiti, Suriname, Iran, DPRK, Puerto Rico, Iraq, Syria, and Cuba due to local restrictions or financial sanctions.

VI. Customer Support and Education

Customer support on FXTM is available on the following channels:

• Email: support@fxtm.com
• Phone: +44 20 3734 1025
• Live chat

Conclusion

Get a good mix of active and passive investment conditions on all asset types with FXTM, a widely-regulated FX and CFD broker.