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FXTM Review – Everything You Need to Know About ForexTime

Published in 15 Dec 2021 by @admin2

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FXTM Review – Everything You Need to Know About ForexTime
General
Forex training

FXTM (ForexTime), one of the most successful forex brokers de Forex, was founded in 2011 by Andrey Dashin, a highly successful entrepreneur. It is still relatively new to the online FX trading market, but it has been around for a few years. FXTM Review has earned industry accolades and won several industry awards, including "Fastest Growing Forex broker" and "Best Newcomer 2013. You can trade in all currencies with a minimum deposit of $10 or lower.

FXTM is licensed by multiple jurisdictions. There are offices in Belize, England, and Cyprus. The headquarters of FXTM are located in Limassol (Cyprus) and are managed by ForexTime Limited & FT Global Limited. ForexTime is an intuitive trading platform that allows traders to trade on MetaTrader 4 and 5. It offers a wide range of trading instruments, including CFDs Indices, Commodities, Forex and Spot Metals. Before you start trading with ForexTime broker, read our honest FXTM review.

 

What is the FXTM Commission and what are its functions?

ForexTime broker charges a different commission depending on the type of account. FXTM Pro Accounts and ECN Zero Accounts are exempted from commission. Standard Accounts have a $2 per lot commission.

ECN Meta Trade 4 Account has a floating commission. This means that the commission is dependent on the trading volume and equity. A higher trading volume and equities will result in a lower commission.

FXTM Withdrawals and Deposits

ForexTime provides traders with a wide range of deposit and withdrawal options. This broker is able to appeal to a wide range of clients.

FXTM deposit methods include:

  • Tanzanian local transfer

  • Online banking in China

  • Online banking in Vietnam

  • Online banking in Thailand

  • Palestinian local transfer

  • Local transfer to Bangladesh

  • Local transfer to Iraq

  • Local transfer to Egypt

  • GlobePay

  • Admiral Markets broker

  • Baokim

  • Nganluong is an e-wallet channel and banking channel.

  • Laos local transfer

  • Local transfer to Afghanistan

  • Local Exchange House

  • Online banking in Malaysia

  • Indonesian online banking

  • Indian local transfer

  • Local transfer to Pakistan

  • Indonesian local transfer

  • Kenyan local transfer

  • Algerian local transfer

  • Local transfer to Nigeria

  • Local transfer to Ghana

  • FasaPay

You can also deposit via Moneybookers/Skrill or Neteller (for VIPs), Maestro Cards and MasterCard. FXTM Broker's best feature is that traders can deposit using Konnexone and Bitcoin via Skrill or Perfectmoney. Money, WebMoney and other cryptocurrencies, including Dixipay (Alfa-Click), Dusupay, Dixipay and Alfa-Click. Clients also have the option to make a bank wire transfer.

FXTM charges no commission for any of the deposit methods mentioned above. The deposit processing time for most methods can take anywhere from one business day to instant. A bank transfer can take up to 3-5 business days for the deposit to be processed.

FXTM withdrawal methods

The withdrawal methods are, however, almost identical, with some differences. You cannot withdraw via Cash U or Alfa Click, but you can withdraw through China Union Pay. With the exception of Chinese online banking, which can take up to 48 hours to process the withdrawals, most withdrawal processing times take less than one business day.

Konnexone may take up 24 hours, Bitcoin via Skrill or Bitcoin may take up 1-2 business days for withdrawals.

A commission may be charged for certain withdrawal methods. It can be a small percentage of the transaction, or a low set-fee depending on which withdrawal method you choose. However, withdrawal methods that do not require commission are almost all still free.

You should consider the time frame and fees when choosing FXTM withdrawal or deposit method.

What are FXTM Minimum and Maximum Deposits?

The account type you choose will determine the maximum and minimum FXTM deposits. ECN Accounts and ECN Zero Accounts, as well as Shares Accounts and Standard Accounts, require a minimum deposit of either PS/EUR/$100, or N20,000. These accounts don't have a maximum deposit. Cent Accounts on the other side have a minimum deposit PS/EUR/$5 and N1,000, with no maximum. FXTM Pro accounts have a minimum deposit of PS/EUR/$25,000. There is no maximum.

FXTM Account Types

FXTM offers an account that suits everyone. FXTM accounts come in three types: CENT Account (Shares Account), Standard Account (Standard Account), and CENT Account (CENT Account). Micro-lots are available with the CENT account.

ECN Accounts include ECN Zero Account and ECN MT5Account, ECN4 Account, ECN ManagerAccount, ECN Zero MMT5, ECN Pro MT5 and ECN Pro.

Standard Accounts can be used with MT 4 (Meta Trader 4). These accounts include SWAP-free options, instant execution, floating leverage starting at 1:1,000, tight floating spreads and no hidden fees. Standard accounts can be opened in NGN, GBP or EUR.

Cent Accounts on the other side have instant execution, SWAP free option, tight floating spreads and can be used with Meta Trader 4. These accounts can be purchased in NGN kobo or USD cents, GB pennies, or EUR cents. Cent Accounts come with a minimum deposit in PS/EUR/$5 and Cent Lots.

Finally, Shares accounts come with a SWAP-free option which uses Meta Trader 4. This allows for immediate execution. There is no commission and the leverage is set at 1:10. This account type allows hedging. The traders have access more than 180 US shares. It can be purchased in USD, GBP, EUR or NGN.

FXTM offers additional trading accounts

ECN Zero Accounts can use Meta Trader 4 and Meta Trader 5, and include FCTM Invest. These accounts can execute market executions without requotes and charge no commission. They also have tight floating spreads that allow for floating leverage up to 1:,000. These accounts are available in USD, GBP and EUR. ECN Zero Accounts allow scalping and hedging.

ECN Zero Accounts can also be used Meta Trader 4 and Meta Trader 5 with market execution, without re-quotes. These accounts allow for floating leverage up to 1:1000, a SWAP-free option and spreads starting at 0.1. They also offer the same currency option. You can both scalp and hedge, and the commissions start at $4. FXTM Invest offers this type of account.

FXTM Pro, like the other accounts, allows us to use Meta Trader 4 or Meta Trader 5. You can get floating leverage up to 1:1,000. The spreads are tight at 0 pip. This account is preferred by VIPs because it allows for fast market execution without commission and no re-quotes. It doesn't have last-look pricing and can take advantage of deep liquidity from FXTM's Tier-1 providers. NGN accounts can only be opened to Nigerian clients, regardless of which FXTM account they are.

What is FXTM Invest and what are its benefits?

FXTM Invest (also known as Copy Trading) is a new proposal by ForexTime. It allows traders to become FXTM Invest Strategy managers.

ForexTime is unique in this area. FXTM relies on cutting-edge technology to enable copy trading. You can use your FX knowledge to make additional capital. FXTM Invest allows other traders to copy your trades. You can get a portion of the profits made by other investors by allowing them to copy your trade - up to 50%

You must open an ECN zero account and verify your profile before you can use FXTM Invest. You will then need to create your Manager folio where your trading strategy will be displayed. You can also share your trading results via social media.

FXTM Invest allows traders to copy trades made by successful traders. This platform is best for traders who don't have the time or mental capacity to create sophisticated trading strategy. It also allows traders who are successful to profit by others copying their strategies.

FXTM Invest also includes a list with top-ranking strategy managers. An audit determines the top rank for Strategy Managers. To make a decision, you can see the detailed information of each Strategy Manager. It includes the Strategy Manager's weekly return, maximum drawdown, total returns, and profitability chart. This includes the percentage of profit, open days, and level risk. To help traders make the right trading decisions, each strategy is rated with five stars.

FXTM Automated Trade

ForexTime offers Logarithmic and Expert Advisors. These types of automated trading offer investors a lot of convenience and are great for busy investors. FXTM clients can choose to follow a trading strategy from another person or make their own. Automated trading allows them to do so. Expert Advisors, an automated trading system that can follow the strategy, can be used. The FXTM Automated Trading System will trade automatically for investors based on the strategy they use.

Automated trading allows you to make profits even when you are not able to monitor the markets 24/7. Automated trading with FXTM is possible even when you're asleep. Automated trading can result in losses but the profit depends on the market conditions and the trading strategy.

What are FXMT Trading Restrictions?

ForexTime is a great tool for investors but it has its limitations. First, a Standard Account has a 0.01 lot limit per trade. You can trade micro, standard, and mini lots. There are also 30 lots (maximum). This account type allows you to place up to 100 orders and complete orders. Standard Accounts have a 20% stop-out and a 40% margin call.

Cent Accounts can only trade a maximum of one lot and a minimum of 0.1 lots. Cent Accounts can only accept 300 orders and 100 incomplete orders. The margin call is at 60% and the stop out at 40%.

Trade volume for Shares Accounts ranges between 0.01 to 10 lots with a maximum 100 orders and incomplete orders. The margin call is 40% and the stop out at 20%.

ECN Zero Accounts and ECN Accounts both have trade volumes of 0.01 to 100 lots. Orders can be placed with up to 300 incomplete orders. The margin call is at 80% and the stop out at 50%.

ForexTime Pro Accounts can trade volumes of 0.01 to 250 lots with unlimited orders and 300 uncompleted orders. The margin call is at 80% and the stop out at 50%.

 

What are the benefits and drawbacks of these options?

 

Advantages:

  • FXTM Invest for Auto Trading

  • Offers Cryptocurrency FX

  • Regulated in many jurisdictions, even those outside of the European Union

  • Multiple Execution Options Available Depending on Account Type

Disadvantages:

  • Trades with a minimum order of 30 standard lots

  • ECN Accounts allow you to add limit and stop levels only after execution

  • Different account types have different markets

  • Margin restrictions and leverage caps on ECN accounts

FXTM Trading: Unique Features

  • 31+ payment options available

  • Mobile trading apps

  • 250+ trading instruments, including Commodities and Precious Metals Futures, Futures CFDs and Forex Currency Pairs

  • EA strategies allow for scalping, hedging and hedging.

  • Learning Centre Support offers local seminars, free training courses and educational videos. It also includes webinars, commentary, and streaming feeds.

Conclusion

We are pleased with the FXTM review. ForexTime offers its customers an outstanding FX broking service. FXMT's experienced management team has years of experience, a deep understanding of investors' needs and all the resources necessary to satisfy the high-demand global clientele. FXTM is an excellent choice if you're looking to take your investment ventures one step further.


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