Pros
  • An intuitive copy trading platform
  • Advanced 250 instruments
  • Licensed and regulated by the CySEC, FSCA, FCA, and FSC
Cons
  • Clients from USA, Canada or Japan cannot use the service
  • Inactivity and withdrawal fees
  • High stock CFD fees

Company Information

FXTM has been a global leader in online trading since 2011. FXTM or ForexTime has its main office in Cyprus, it has also been considered as one of the world’s fastest growing and best forex brokers, taking into account the fact that the company has expanded quickly within Europe and in some Africa and Asia regions. FXTM has also earned numerous awards over the years, named Best Investment Broker from FX Daily Info to Best Trading Experience from the World Finance Awards, both in 2019.

Markets

We were slightly astonished to find out about the broker’s extensive range of asset classes and instruments. Of course, it depends on what type of account you use, still though FXTM provides you with a lot of trading opportunities. All you need is to select the market and to go ahead. So, you can select between the following assets:

● Currency Pairs
● Commodities
● Precious metals
● Indices
● Stocks and Shares
● Cryptocurrencies
● Options
● ETFs

Trading accounts

Our team has compared the three types of account the broker offers: Standard, Cent and Shares ones. The main difference is in the amount of the first deposit, commission fee, leverage, spread, number of trading tools, and some other additional benefits.

  • Standard
  • • First deposit – $100
    • 82 trading tools
    • Leverage – 1:2000
    • Spread – from 1.3 points
    • Commission fee

  • Cent
  • • First deposit – $10
    • 27 trading tools
    • Leverage – 1:1000
    • Spread – from 1.5 points
    • No commission

  • Shares
  • • First deposit – $100
    • 160+ trading tools
    • Leverage – 1:10
    • Spread – from 0.1 points
    • No commission

Open an account

Opening an account with FXTM will take up to one day. All you need is to follow six simple steps:

  1. to select Open Account on the top right corner of the website;
  2. to enter your full name, country, email address, and phone number, and to choose the password;
  3. to click Send PIN and enter either of the PINs you receive, to agree to the terms and conditions, and to click Register Now;
  4. to complete the questionnaire, detailing further personal information, trading aims, and trading knowledge;
  5. to submit the required documents to verify your account; 6) to make a deposit.

Minimum deposit

Cent accounts can be opened for as little as $10, while Standard and Shares accounts require a bit higher minimum deposit of $100.

© FXTM website screen

Trading Platforms

FXTM has three trading platforms at your service.

  • FXTM Trader is the broker’s proprietary mobile trading platform. We concluded that app is very convenient to use. You can use indicators and other features on the mobile app, however, you will not be able to use Expert Advisors or trailing stop orders as these are only available through other platforms. You can use it to view live currency rates, manage all trading accounts, and open or close positions in a matter of seconds with one-click trading. The trading dashboard also allows you to see details of your trades, including profit, margin, and balance.
  • MetaTrader 4 is the most popular forex trading platform in the world. The broker provides access to MT 4 on Mac, PC, and both iOS and Android mobile devices and tablets. The platform is available in over 20 languages too.
  • MetaTrader 5 gives you more advanced tools. It is available in 30+ languages and is also available via PC, Mac, tablet, and mobile.Some standout features of MetaTrader 5 include the fund transfer capability between accounts, alerts, and the multi-threaded strategy tester. MetaTrader 5 has six pending order types and four order execution types. You can use 21 timeframes, 44 graphical objects, and 38 technical indicators to analyze data with MT5.
  • Our verdict

    Our review of FXTM proves that it is a highly reputable broker with a solid experience and a wide variety of trading opportunities. The broker stands out with an average client approval time of fewer than 12 minutes, 84% of funds processed within five minutes, and a high customer approval rating. It also offers over 250 trading tools to its customers, as well as three trading platforms, and three account types. They tried to meet the basic requirements of different clients around the world. We hope our review has helped you to decide whether to trade with the very broker or nor. We wish you all the success.

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    Domenico Salvatore Isaya
    Domenico Salvatore Isaya
    February 16, 2020 9:34 am

    Have been with FXTM for a couple of weeks now and i have only good things to say about them.
    Low spreads and very good customer service.
    My account manager has been great to talk to when i have questions and i always get quick answers from him.
    I have recommended them to many of my friends that is about to start trading.

    VICTOR IFTENE
    VICTOR IFTENE
    December 23, 2019 7:36 pm

    Trustworthy broker, haven’t had any issues with them.
    Quick response time when you’ve got questions, really helpful staff as well.
    5/5

    Abdelmajid Ziat
    Abdelmajid Ziat
    November 2, 2019 2:37 pm

    I have been with FXTM since April 2019. Before that I was using two other brokers. These guys have very low spread and commission and were very good in setting me up. I’m currently using their professional account and I do find the slippage a bit higher than others when trading on major events and announcements. I think I’m trading enough now to get the free forex VPS, so I’ll give them a ring next week and see how much better that is. I also read here that some people had problems getting their money out, so on Tuesday, I did my 1st withdrawal of $100 just to test their system. As you probably know, if you deposit with a credit card, the withdrawal has to go back to the credit card (I think this is anti-laundry laws). The rest of your profits will go into your bank account. I got my $100 back into my credit card on Thursday, so all good!

    Edoardo Bizzoco
    Edoardo Bizzoco
    June 15, 2019 10:54 pm

    I have been with FXTM for the last 3 months after switching from another broker. I have found FXTM to be the best broker based on the following:
    1. Great and responsive customer service agents who are primary English speakers.
    2. Ability to deposit and withdraw funds in a timely manner.
    3. Personally, I have spoken with my superb account manager.
    4. Well capitalized broker.
    5. Extremely low fees.
    6. Great spreads especially with pro account.
    7. Simple and well-laid out back office that is simple and easy to use.

    A few things to keep in mind:
    1. They offer predominately forex pairs.
    2. You need to contact customer care to open accounts and also to change leverage on accounts.

    Renato Suez
    Renato Suez
    April 26, 2019 7:19 pm

    Well, I have being trading them with over 6 months. with my experience of trading over 3 years, I would say FXTM won’t give you novice attractive packages like deposit bonus (though i get special 10% being a part of specific group of traders) , loyalty cashback and exotic events like demo contest etc. but they do provide highly professional support, high speed execution, ultra tight spread. i would recommend their pro account with raw spread. withdrawals also hassle free and it get deposited within 1 working day.
    for cons, they only offer gold and silver for metals if you are a metal trader.

    Michele Fortino
    Michele Fortino
    April 3, 2019 5:31 pm

    My friend recommended FXTM to me and i can definitely tell you it is absolutely worth it! With their small spreads, you will be profiting for days!

    Vittorio Bottin
    Vittorio Bottin
    February 12, 2019 6:35 am

    Have traded with FXTM for several years now, and never had issues Fast trading platform. everything adds up to make me a happy trader

    Nicholas Stephen
    Nicholas Stephen
    December 6, 2018 1:36 pm

    I am trading with FXTM from last 1 and half year. I never had any issue with them. Support staff is very professional and they are very prompt in replying to your queries. Platform is very fast and it has all the features needed for mordern day trader.

    Massimo Goretti
    Massimo Goretti
    October 18, 2018 3:34 pm

    I’m not satisfied with your customer support service. I had called for 3 times and only on the third time they answered

    Khadija Aboulkassim
    Khadija Aboulkassim
    August 21, 2018 5:27 pm

    I have been trading with FXTM for one year. Despite i am living in South Korea and not good at speaking English, they support me really well.
    Connection with their customer service is the top level. very quick respond and so reliable.
    I experienced couple of brokers before, but non of them are comparable to FXTM.

    My trading skills and performance are much better with FXTM.
    Me and my wife, both are happy.
    Thank you, FXTM.

    Silvia Bagnesi
    Silvia Bagnesi
    May 27, 2018 4:51 pm

    Hands down this has been the best broker I have traded with over the past 4 years of trading forex. Spreads are very low and excellent compared to other brokers. They are very responsive with all your needs and are very friendly. Would 100% recommend FXTM to anyone looking for an excellent broker.

    Nicola Rabottini
    Nicola Rabottini
    March 13, 2018 11:28 am

    This is the single best broker ever created! No proprietary platform with a big learning curve, no personalized news feed, and nothing that isn’t needed.
    Now, this might seem bad, trust me it isn’t.
    Their customer support is 110/100, Ben Clay is the friendliest sales manager you will ever find, and the customer support is EXTREMELY quick. Their spreads are super tight and their executions are flash. This is truly the best broker ever.

    Ediomo Francis Idiong
    Ediomo Francis Idiong
    March 3, 2018 1:03 am

    I am happy with everything about FXTM, and I would not consider using any other broker.