ForexTime (FXTM), a solid trading platform built on MetaTrader 4/5, offers a wide variety of trading instruments, including Forex, CFDs to Indices & Commodities and Spot Metals.
ForexTime is highly regarded in the industry and offers competitive spreads. It is also regulated in the UK under the FCA and CySec in Cyprus.
ForexTime, although it is one of the newest brokers, has grown at a rapid pace and won numerous awards over its lifetime. For an honest review of ForexTime broker, read on.
Risk Warning: CFDs can be complex instruments that could lead to rapid loss of money due to leverage. This provider is responsible for 81% of all retail investor accounts losing money trading CFDs. It is important to consider how CFDs work, and whether you are able to afford the high risk of losing your investment.
ForexTime at a Glance
Due to restrictions, different entities that fall under the FXTM Brand offer different levels of leverage. The Client’s knowledge, experience, and country of residence will determine the level of leverage offered. Please amend the content to indicate that FXTM offers flexible leverage. Below is the proposal:
Licenses & Regulations
- Licensee by South Africa’s Financial Sector Conduct Authority (FSCA), with FSP Number. 46614
- The number 600475 is also the company’s registration with the Financial Conduct Authority of the UK.
- Exinity Limited (www.forextime.com), is regulated and licensed by the Financial Services Commission of the Republic of Mauritius. It holds an Investment Dealer License with license number C113012295.
- Forextime UK Limited (www.forextime.com/uk) is authorised and regulated by the Financial Conduct Authority, firm reference number 777911.
ForexTime Trading Instruments
Trades can be made with FXTM.
- There are over 50 currency pairs.
- CFDs can be traded on spot metals, CFDs on commodities futures and share CFDs for those who want to diversify their investment portfolios.
- They can also trade CFDs on Indices or ETFs
- This includes more that 180 US shares.
- Trades are possible on up to 59 foreign currency pairs, 15 spot metals, 14 spot CFDs and 3 commodities CFDs.
ForexTime allows traders to trade stocks and CFDs with ForexTime.
FXTM trading stocks is a great way to diversify your portfolio while also introducing risk. You don’t have to worry about the time limitations associated with stock CFDs.
FXTM ProMT5 accounts are required to trade stocks using FXTM. You will get spreads starting at 0 pip, the fastest execution and the option of standard, macro or mini lots.
ForexTime Trading Terms
ForexTime is proud to offer excellent trading terms. It offers fast execution and micro and small lots.
The platform does not require a minimum deposit and uses No Dealing Desk technology (NDD). FXTM has high interbank liquidity, and offers Logarithmic trading as well as Expert Advisors.
The floating leverage can reach as high as 1:,000. Spreads can be as tight or as loose as 0.1 pip depending on market conditions and the type of account.
FXTM’s floating leverage system allows for leverage up to 1:1,000 This high leverage allows traders to trade larger volumes and increase their profits. However, this comes with higher risks.
Disclaimer regarding leverage: The offer of leverage is based on your knowledge, experience and expertise. Your country’s regulations may change the Leverage/Margin requirements.
ForexTime’s tight spreads make it possible for traders to take advantage of low trading costs.
FXTM offers fast execution because transactions can be executed instantly. You don’t have to worry about delays affecting your ability to obtain the best price.
ForexTime can work with many liquidity providers using the NDD technology. This allows clients to get the best prices for both ask and bid. This technology provides interbank liquidity. This tech also allows for instant trades, as previously mentioned.
Go to the ForexTime Trading Instruments section of the ForexTime website to view all the contract specifications. Next, go to Contract Specifications.
Information such as the minimum and typical spreads, pip value, swaps, trading sessions, and other details will be displayed.
ForexTime Margin & Leverage
All margin and leverage requirements for ForexTime Trades can be viewed on the appropriate page of the broker’s site. All information is located under the main category Trading Accounts.
Standard, ECN, ECN Zero Trading Accounts have the following margin and leverage requirements. You can view the requirements for FX majors and minors in the FX exotics, spot Metals, BTCUSD. ETHUSD. LTCUSD.
You can find the notional values for USD, EUR and GBP or NGN as well as the leverage provided and floating margin as percent.
Below is the same information as for FXTM ProMT4 Trading Accounts. Also, please see the FXTM Pro MT5 trading accounts.
FXTM charges different commissions depending on the type of account. Standard Accounts are exempt from commission. Cent Accounts, Shares Accounts and ECN Zero Accounts are exempt. FXTM Pro Accounts do not have any commission. ECN Accounts are subject to a $2 per lot commission.
There are floating commissions for certain accounts. ECN MT4 is an example. The commission depends on trading volume and equity. Lower commissions correspond to higher trading volumes.
The specific floating rates can be viewed under Trading Accounts, on the Commissions page. Here you will also find the commissions for stock trading via PROMT5.
Minimum & Maximum Deposits
ForexTime’s minimum deposit and maximum deposit depend on which type of account you choose.
- Standard Accounts and Shares Accounts require a minimum deposit of $/EUR/PS100 or N20,000. There is no maximum deposit.
- Cent Accounts require minimum deposits of $/EUR/PS 10, N1,000 or both.
- FXTM Pro accounts require a minimum deposit of $/EUR/PS 25.000 and no maximum.
Types of ForexTime Account
ForexTime has an account that is suitable for all.
Standard Accounts include a Standard, CENT Account (with micro lot) and a Shares Account.
ECN Accounts can be used to hold the ECN MT4 or ECN MT5 account, as well as the ECN ZERO account.
The ECN Manager Account, FXTM Pro and FXTM ProMT5 are also available.
- Standard Accounts are compatible with MetaTrader 4. These accounts include tight floating spreads, floating leaning from 1:1,000, instant execution and hedging. There are no hidden fees. These accounts can be opened in USD, EUR or GBP.
- Cent Accounts have instant execution, tight floating spreads and a SWAP-free alternative. They also work with MT4. You can choose from EUR cents or GB pence. You can deposit as little as 5 EUR/USD/GBP and they feature Cent Lots.
- Shares accounts also use the MT4 protocol and can be executed instantly and without SWAP. There are no commissions and hedges are allowed. This account has a fixed leverage of 1:10 and gives you access to more US shares than 180. You can access the account in USD, EUR or GBP.
Additional trading accounts
ECN Zero Accounts can use MT4 and MT5 and include FXTM Invest. ECN Zero Accounts offer tight floating spreads and no commissions. Market execution is free from requotes. They also have floating leverage up to 1:,000.
You can also choose from USD, EUR and GBP. Both scalping as well as hedging are permitted.
ECN Accounts also use MT4 and MT5 with market execution, no requotes and floating leverage up to 1:,000.
Spreads start at 0.1. There is also a SWAP-free option and the same currency options. The commissions start at $4 and allow for scaling and hedging. FXTM Invest also offers this type of account.
FXTM Pro Accounts allow you to use MT4 and MT5. You can use MT4 or MT5 with tight spreads starting at 0 pip, no commissions, floating leverage up to 1:0000, and super-fast market execution, without requotes.
This account does not have a last-look price and takes advantage of deep liquidity from ForexTime’s Tier-1 providers.
NGN accounts can only be opened for Nigerian clients, regardless of type.