Comprehensive FXTM Review: A Trusted Forex Broker for MENA Region Traders - Forex Reviews UAE. ForexTime (FXTM), established in 2011, is a globally recognized forex broker that has been instrumental in providing trading services, especially in the MENA region. Over the years, FXTM has garnered a strong reputation for combining cutting-edge trading technology with comprehensive educational resources, making it a preferred choice for both novice and seasoned traders. The broker operates under a robust regulatory framework, ensuring a secure and transparent trading environment. FXTM is regulated by several reputable financial authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the UK’s Financial Conduct Authority (FCA), which mandates strict compliance with industry standards and best practices. This regulatory oversight assures traders that their investments are secure and that FXTM adheres to the highest ethical standards in its operations.One of the key strengths of FXTM lies in its diverse range of trading platforms, designed to cater to the varying needs of its clients. The MetaTrader 4 (MT4) platform, which is widely regarded as the industry standard, is offered by FXTM with all its renowned features. MT4’s user-friendly interface, coupled with its robust functionality, makes it an ideal choice for traders who require reliability and efficiency. The platform supports a wide array of trading instruments and offers enhanced trading features, including multiple order types, 30 built-in technical indicators, and 24 graphic objects. Furthermore, MT4’s compatibility with automated trading systems through Expert Advisors (EAs) provides traders with the flexibility to implement complex trading strategies with ease.In addition to MT4, FXTM offers the MetaTrader 5 (MT5) platform, which is an advanced version of its predecessor, designed for traders seeking additional functionalities. MT5 includes all the features of MT4 but expands on them by offering more technical indicators, additional chart time frames, and an integrated economic calendar. These enhancements make MT5 particularly appealing to experienced traders who require a deeper level of analysis and more sophisticated trading tools. MT5 also boasts superior order execution capabilities, ensuring that traders can capitalize on market opportunities with precision and speed.For traders who prefer to manage their trades on the go, FXTM offers the FXTM Trader mobile app. This app is available on both Android and iOS devices and provides a comprehensive trading experience that rivals desktop platforms. The app features real-time quotes, advanced charting tools, and the ability to open and close positions instantly. This mobility ensures that traders can stay connected to the markets and manage their portfolios from anywhere, at any time, without compromising on the functionality or ease of use.FXTM’s asset offering is another area where the broker excels, providing a wide range of tradable instruments that cater to different trading preferences. The forex market is a major focus for FXTM, with a vast selection of major, minor, and exotic currency pairs available for trading. This diversity allows traders to exploit opportunities across various forex markets and benefit from different market conditions. Beyond forex, FXTM offers trading in indices, commodities, and shares, providing access to some of the world’s most prominent financial markets. Traders can invest in major stock indices like the Dow Jones, FTSE 100, and NASDAQ, trade commodities such as gold, silver, oil, and gas, or explore agricultural products. The inclusion of cryptocurrency CFDs in FXTM’s asset lineup reflects the broker’s commitment to meeting the evolving needs of traders. With cryptocurrencies becoming an increasingly popular asset class, FXTM allows traders to speculate on the price movements of major cryptocurrencies without needing to own the actual digital assets.To accommodate different trading styles and experience levels, FXTM offers a variety of account types. The Standard Account is designed for traders who prefer traditional trading with features like tight floating spreads, instant execution, and no commissions on forex, precious metals, and commodities. This account type is suitable for both beginners and experienced traders who favor a straightforward trading approach. For those new to trading, the Cent Account is an ideal choice as it allows for smaller lot sizes and positions, enabling beginners to gain valuable experience in real-market conditions with minimal financial risk. The Shares Account caters to traders interested in trading U.S. shares, offering direct access to over 180 U.S. stocks with real-time data from NYSE and NASDAQ. This account type is particularly attractive as it provides instant execution and charges no commissions, making it cost-effective for share traders. For advanced traders, FXTM’s ECN Accounts, including the ECN Zero and ECN Pro Accounts, offer tight spreads and fast market execution, catering to those who require more sophisticated trading conditions.FXTM also excels in the area of deposits and withdrawals, offering a smooth and efficient banking experience with a variety of options that cater to traders from different regions, including the MENA region. FXTM supports major credit cards, popular e-wallets like Skrill, Neteller, and WebMoney, as well as bank wire transfers. For traders in the MENA region, the availability of local payment methods is a significant advantage, ensuring that deposits and withdrawals can be made with ease. The minimum deposit requirement is low, starting from just $10 for a basic account, which makes FXTM accessible to a wide range of traders. Withdrawals are processed quickly, typically within 24 hours for verified accounts, and FXTM does not charge any withdrawal fees, which is a standout feature. However, traders should be aware that fees may be imposed by their bank or payment processor, which could affect the net amount received.FXTM’s commitment to transparency is evident in its competitive and clear fee structure. Trading fees vary depending on the account type, with the Micro account offering fixed spreads starting from 1.5 pips, while the Advantage and Advantage Plus accounts provide spreads from 0.0 pips with commissions starting at $0.4 per lot. Non-trading fees are minimal, with no charges for account maintenance or inactivity, unless an account remains dormant for over six months, in which case an inactivity fee is applied. FXTM offers leverage up to 1:2000, which can significantly amplify potential profits but also increases the risk, particularly when positions are held overnight and subject to rollover fees.Education is a cornerstone of FXTM’s service offering, with the broker placing a strong emphasis on empowering traders through knowledge. FXTM provides a wealth of educational resources, including a comprehensive learning center filled with articles, eBooks, videos, and webinars. These materials cover a broad spectrum of topics, from the basics of forex trading to advanced trading strategies and market analysis techniques. For beginners, the step-by-step trading tutorials and glossary of trading terms are particularly useful, helping them build a solid foundation in trading. FXTM also regularly hosts webinars and seminars, offering traders the opportunity to learn from financial experts and engage in real-time discussions. These sessions are often available in local languages for traders in the MENA region, enhancing accessibility and understanding.Customer support is another area where FXTM shines, offering a range of contact options, including live chat, email, and telephone. The support team is responsive, with live chat and phone queries typically resolved within minutes. FXTM also provides multilingual support, which is particularly beneficial in the diverse linguistic landscape of the MENA region. Additionally, the broker has established several local offices in the region, providing more personalized service to its clients. The educational resources available on FXTM’s website are comprehensive, catering especially to novice traders, although some users have noted variability in customer service availability during peak times.Security is of paramount importance at FXTM, and the broker has implemented advanced measures to protect client funds and personal information. FXTM uses SSL encryption across its platforms, ensuring that all data transmitted between the client and the broker is secure. Client funds are kept in segregated accounts, separate from the company’s operational funds, providing an additional layer of security. Furthermore, FXTM is a member of the Investor Compensation Fund, which offers protection to clients in the unlikely event of the broker’s insolvency.Community trust and user reviews are critical indicators of a broker’s reliability, and FXTM generally receives positive feedback from its clients. Users appreciate the ease of use of the trading platforms, the range of instruments available, and the quality of the educational resources provided. The broker’s reputation for transparency and customer service is also frequently mentioned in reviews. However, some users have reported issues with withdrawal times, although these appear to be isolated incidents rather than systemic problems. It is advisable for potential clients to consider these reviews to gauge the overall reliability of the broker.In conclusion, FXTM offers a comprehensive service package that caters to traders of all levels, with a strong emphasis on education, security, and customer support. The broker’s regulatory compliance, advanced trading platforms, and diverse asset offerings make it a compelling choice for traders in the MENA region and beyond. Whether you are a novice looking to build your trading skills or an experienced trader seeking advanced tools and competitive fees, FXTM provides the resources and support necessary to succeed in the dynamic world of forex trading.

Founded: 2011
Headquarters: Cyprus
Min deposit: 10 USD
Max Leverage: 1 : 2000

ForexTime (FXTM) is a renowned forex broker that has been serving clients across the globe, including the MENA region, since its establishment in 2011. With a strong focus on combining high-tech trading solutions with detailed educational resources, FXTM aims to cater to both novice and experienced traders. This review provides an in-depth analysis of FXTM’s services, examining its regulatory framework, trading platforms, asset offerings, account types, customer support, and educational resources, particularly focusing on its operations in the MENA region.

Trading Platforms

MetaTrader 4 (MT4)

FXTM provides access to one of the most popular trading platforms in the industry, MetaTrader 4. Renowned for its user-friendly interface, robust functionality, and reliability, MT4 at FXTM allows traders to explore a wide array of trading instruments with enhanced trading features. The platform supports multiple order types, provides a vast array of analytical tools, including 30 built-in technical indicators and 24 graphic objects, and offers automated trading capabilities through Expert Advisors (EAs).

MetaTrader 5 (MT5)

Building on the success of MT4, FXTM also offers MetaTrader 5, which caters to traders looking for additional features and extended possibilities. MT5 includes all the admired features of MT4 but with added functionalities such as more technical indicators, more chart time frames, an economic calendar integrated directly into the platform, and enhanced order execution capabilities. MT5 at FXTM is particularly appealing to experienced traders who require greater depth in their trading and analysis.

FXTM Trader App

For those who prefer trading on the go, FXTM’s mobile app, FXTM Trader, offers a comprehensive and easy-to-navigate interface. Available on both Android and iOS, the app includes most of the functionalities available on desktop versions, such as real-time quotes, charting tools, and the ability to open and close positions at a moment’s notice. The mobile app ensures that FXTM traders can manage their accounts and trade from anywhere at any time.

Tradable Assets

FXTM boasts a diverse range of tradable assets that cater to the varying preferences of traders. These include:

Forex: FXTM stands out with a strong emphasis on forex trading, offering major, minor, and exotic currency pairs. This allows traders to capitalize on forex market fluctuations with a broad choice of pairs.

Indices, Commodities, and Shares: Besides forex, FXTM offers trading in indices, commodities, and shares. This includes access to major indices such as the Dow Jones, FTSE 100, and NASDAQ, among others. Commodities trading includes metals like gold and silver, energy commodities such as oil and gas, and a variety of agricultural products.

Cryptocurrencies: In response to growing demand, FXTM has also incorporated cryptocurrency CFDs into its asset offerings, providing traders with the option to trade on the price movements of major cryptocurrencies without the need for actual ownership.

Account Types

FXTM provides multiple account types to suit various trading styles and levels of experience:

Standard Account: Designed for traders who prefer traditional trading, the Standard Account offers tight floating spreads, instant execution, and no commissions on forex, precious metals, and commodities. This account is suitable for those new to trading as well as experienced traders who prefer a straightforward approach.

Cent Account: Ideal for beginners, the Cent Account allows traders to trade smaller lot sizes and open positions with just a few cents. This account type helps new traders gain experience in real-market conditions without a significant initial investment.

Shares Account: For those interested in trading shares, the Shares Account provides direct access to more than 180 U.S. shares with real-time data straight from NYSE and NASDAQ. No commissions are charged, and the account offers instant execution.

ECN Accounts: FXTM’s ECN Accounts are tailored for advanced traders looking for tight spreads and fast market execution. The ECN Zero and ECN Pro Accounts offer different benefits, including lower spreads and more currency pairs.

Deposits and Withdrawals

FXTM prides itself on offering a smooth and efficient banking experience. Clients have a variety of options for deposits and withdrawals, ensuring accessibility and convenience for traders from different parts of the MENA region.

Deposit Methods: FXTM supports a wide range of deposit methods including major credit cards like Visa and MasterCard, e-wallets such as Skrill, Neteller, and WebMoney, and direct bank wire transfers. For MENA residents, FXTM also accepts local payment methods, which is a significant advantage for traders in this region. The minimum deposit requirement varies depending on the account type, starting from just $10 for a basic account, which makes it accessible to novice traders.

Withdrawal Methods: Withdrawals at FXTM are processed with the same variety as deposits. The platform ensures that withdrawals are processed quickly, typically within 24 hours for verified accounts, though it may take longer if additional security checks are necessary. FXTM does not charge any withdrawal fees, which is a standout feature, but traders should be aware that fees may be imposed by their bank or payment processor.

Fees and Costs

FXTM’s fee structure is competitive and transparent, making it easy for traders to understand what they will be charged. This section breaks down the main costs associated with trading with FXTM.

Trading Fees: FXTM offers both fixed and floating spreads depending on the account type. The Micro account, ideal for beginners, offers fixed spreads starting from 1.5 pips. The Advantage and Advantage Plus accounts offer spreads from 0.0 pips and charge commissions starting at $0.4 per lot, which is quite competitive in the market.

Non-Trading Fees: There are no fees for account maintenance or inactivity, which is a significant plus for traders who may not trade regularly. However, an inactivity fee is charged on dormant accounts that have not had any trading activity for a period exceeding six months.

Leverage Costs: FXTM provides leverage up to 1:2000, which can increase the potential profits but also the risks. Traders should be mindful of the overnight rollover fees that may be charged when positions are held open longer than a day.

Education and Resources

FXTM stands out for its commitment to educating its traders. The broker offers an impressive array of educational resources and tools designed to help traders of all levels improve their trading skills and understanding of the markets.

Educational Materials: FXTM provides a comprehensive learning center filled with articles, ebooks, videos, and webinars. These materials cover a range of topics from the basics of forex trading to advanced trading strategies and market analysis techniques. Particularly beneficial for beginners are the step-by-step trading tutorials and the glossary of trading terms.

Webinars and Seminars: FXTM frequently hosts webinars and seminars, giving traders the opportunity to learn directly from financial experts and ask questions in real-time. These sessions cover current market trends, new trading tools, and risk management strategies. For traders in the MENA region, these seminars are often available in local languages, which enhances accessibility and understanding.

Trading Tools: FXTM equips its clients with various advanced trading tools, including technical analysis software, trading calculators, and the FXTM Trader App. These tools are designed to help traders make more informed decisions by providing real-time data and analysis.

Customer Support

FXTM prides itself on providing robust customer support. Clients can reach out to the support team via multiple channels including live chat, email, and telephone. The responsiveness is generally swift, with live chat and phone inquiries typically addressed within a few minutes. FXTM also offers support in multiple languages, which is a significant advantage in the diverse linguistic landscape of the MENA region.

Moreover, the broker has set up several local offices across the region, which facilitates better and more personalized customer service. The educational resources available on FXTM’s website are comprehensive, including webinars, e-books, and articles that are particularly beneficial for novice traders. However, some users have noted that the availability of customer service representatives can vary slightly depending on the time of day, with peak times leading to slower responses.

Security

Security is a paramount concern for any trader, and FXTM addresses this concern adequately. The broker is regulated by several reputable bodies, including the Cyprus Securities and Exchange Commission (CySEC) and the UK’s Financial Conduct Authority (FCA), ensuring compliance with stringent financial standards and ethical trading practices.

FXTM utilizes advanced security technologies to protect clients’ funds and personal information. This includes SSL encryption across their platforms and segregated accounts for clients’ funds, ensuring that personal capital is kept separate from the company’s operational funds. Furthermore, FXTM is a member of the Investor Compensation Fund, which offers protection up to a certain amount per client in the extreme event of the broker’s insolvency.

User Reviews and Community Trust

Community trust and user reviews are crucial indicators of a broker’s reliability and service quality. FXTM generally receives positive feedback from its users, especially concerning its user-friendly trading platforms and the range of instruments available for trading. Many reviews highlight the ease of account setup and the quality of the educational materials provided, which are seen as robust and helpful for traders at all levels.

However, some criticism has been directed towards FXTM regarding withdrawal times and fees. A few users have reported delays in withdrawing funds, although these instances seem to be isolated rather than systemic issues. It’s important for potential clients to consider these reviews to gauge how common such experiences might be.

Pros and Cons

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Conclusion

FXTM stands out as a broker that combines technological sophistication with a deep commitment to trader education and regulatory compliance. For traders in the MENA region, FXTM offers a tailored trading experience, supported by a suite of powerful tools, diverse asset offerings, and responsive customer service. Whether you are just starting out or looking to refine your trading strategy, FXTM provides a robust platform and the necessary resources to help you succeed in the global markets.

FAQ

What is FXTM?

FXTM, or ForexTime, is an international online forex and CFD broker that provides trading services and platforms for various financial instruments including forex, indices, commodities, and shares.

Is FXTM regulated?

Yes, FXTM is regulated by several reputable financial authorities, including the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, and other local regulatory bodies in the jurisdictions they operate.

What types of accounts does FXTM offer?

FXTM offers a variety of account types to suit different trading strategies and levels of investment. These include the Standard Account, Cent Account, Shares Account, and ECN Account, each with unique features and benefits.

How can I fund my FXTM account?

FXTM offers multiple deposit methods including bank wire transfers, credit/debit cards, and e-wallets such as Skrill, NETELLER, and WebMoney. The availability of these methods can vary by region.

Are there any fees for depositing or withdrawing funds from FXTM?

FXTM does not charge any fees for deposits. However, withdrawals can incur charges depending on the method used and the transaction size. It’s advisable to check the latest fees on FXTM’s official website or contact their customer support for detailed information.

How does FXTM ensure the security of my funds?

FXTM ensures the security of client funds through several measures, including using segregated accounts to keep clients’ funds separate from the company’s operational funds, employing SSL encryption for data transfer, and adhering to strict regulatory guidelines.

What trading platforms does FXTM offer?

FXTM primarily offers the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are available for desktop, web, and mobile devices.

FXTM review