- 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
Fees and Costs
Education and Resources
Customer Support
Security
User Reviews and Community Trust
Pros and Cons
- Regulated by Multiple Reputable Authorities: Ensuring a high standard of accountability and transparency.
- Robust Customer Support: Accessible through multiple channels and in various languages.
Comprehensive Educational Resources: Beneficial for new traders and accessible directly through their website. - User-Friendly Platforms: Including both MetaTrader 4 and MetaTrader 5.
- Wide Range of Trading Instruments: Offering flexibility in trading options across currencies, commodities, indices, and stocks.
- Variable Withdrawal Times: Some users have experienced delays.
- Trading Fees: While generally competitive, fees can vary depending on the account type and market conditions.
- Limited Product Portfolio in Some Regions: Depending on the regional regulations, some products may not be available to all users.
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
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.
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.
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.
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.
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.
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.
FXTM primarily offers the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are available for desktop, web, and mobile devices.