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Everything you need to known about FXTM ForexTime: Full Review for Beginners
By: Moses Davis - May 30, 2020
ForexTime (FXTM) is a reputable Forex and CFD broker established in 2011 with the goal of bringing the opportunities of financial markets to global audiences. It is owned by Exinity Limited and has its headquarters in Cyprus.
Which assets are offered by FXTM?
FXTM trading platform
FXTM offers traders three trading platforms. MetaTrader 4, MetaTrader 5 and FXTM Trader. These three platforms ensure that traders experience an enhanced trading experience and are able to place trades on different assets with ease. Let's look at the three platforms.
MetaTrader 4 is the most popular trading platform. This stand-alone online platform provides access to a wide range of markets and hundreds of financial instruments including commodities, forex, Indices and CFDs. These free to download platform makes avaiilable everything needed to manage trades and analyze the markets.
The easy to read and interactive charts offered by MT4 allow a trader to analyze and monitor the markets in real time. MT4 gives access to more than 30 indicators to help one identify market trends and entry and exit point signals.
MT4 offers a powerful security system and multi-device funtionality. For users with more than one account, FXTM offers MAM (Multi Account Manager) on the platform for easy management.
The MetaTrader 4 platform is available on Desktops (Windows & MacOS), Web-browsers and Mobile for both Android and iOS phones.
MetaTrader 5 is the successor of MetaTrader 4. Coupled with the latest technology this free market leading platform is the future of trading. On FXTM, MT5 gives a trader an even broader access to the financial markets including commodities, forex, indices & CFDs, stocks and futures. MT5 has in-built copy trade & automated trading, fundamental technical analysis.
MT5 offers more than MT4 with 44 graphical objects and integrated economic calendar and email system. The platform also allows transfer of funds between accounts with an alert system to keep a trader updated on all latest market events. The platform offers a multi-threaded strategy tester
Users are also able to communicate through the on board MQL5 community chat and this empowers them and builds there confidence.
The MetaTrader 5 platform is available on Desktops (Windows & MacOS), Web-browsers and Mobile for both Android and iOS phones.
FXTM Trader App
Since the demand for investments App has been growing in the recent past, FXTM introduced a new App - FXTM Trader to meet traders needs by upgrading their online trading experience.
The FXTM Trader App enables traders to keep track of their balance, profits and latest rates on a safe and secure app. With the App traders never miss a market moment as it can be accessed even while on the move.
With the App traders can open, close and modify positions in an instant, open a position on a computer and close it from the mobile, and enjoy advanced charting tools and popular indicators.
Is ExpertOption regulated?
Account types offered by FXTM
FXTM offers six types of accounts to cater for individual trader's needs. They are Standard account, Cent account, Shares account, ECN account, ECN zero account and FXTM Pro account. Some of their features are listed below;
Making deposits and withdrawals on FXTM
FXTM provides traders with over 50 methods of making deposits and withdrawals which are locally available. They include;
Training and Education on FXTM
FXTM website is rich in training and educational materials to ensure that traders are equipped with enough knowledge to help them become successful on their trading journey.
The training materials include;
- authored by Andreas Thalassions who is the head of education at FXTM. They include;
a. The Road to Success: 50 Successful Traders Habits, which aims to help the readers;
Incorporating Risk Management Rules
Developing Effective Trading Strategies
b. Cryptocurrencies: Bitcoin, which covers;
The origins of the cryptocurrency and its creator, the elusive Satoshi Nakamoto
Blockchain technology and various aspects of the Bitcoin network
Trading bitcoin and what the future holds
c. The Elliott Wave Theory, which covers;
The range of wave types and the nine wave degrees
Rules and guidelines followed by this theory
Corrective waves: Zigzags, Flats, Triangles and Combinations
d. Bearish Japanese: Candlesticks & Strategies, which covers;
The value of reading and using candlestick patterns for traders
Integration of candlestick charting into trading strategies
Visual examples of charts and formations
e. Bullish Japanese: Candlesticks & Strategies, which covers;
The value of reading and using candlestick patterns for traders
Integration of candlestick charting into trading strategies
Visual examples of charts and formations
2. Forex Trading Seminars and Webinars
Since a successful trader is an educated trader FXTM offers seminars and workshops on forex trading in different regions. Participants are able to gain;
Education from acclaimed industry experts
Insights into trading terminology, risk management practises, complex trading strategies and more
Opportunities to ask your questions to forex seminar leaders
The chance to network with other traders in your region
Special certificates and prizes
The broker also provides webinars which are presented by industry experts who cover a wide range of topics. During the webinars traders are able to;
Learn the fundamentals of forex trading
Receive insights into superior risk management practices.
Understand trading psychology.
Discover complex trading strategies.
Interact in Q&A sessions
3. Forex Education Videos
A series of educational videos offered by FXTM covers topics like; Forex trading basics: Margin & Leverage, Forex trading basics: PIP, LOT & Order, Technical Analysis, Fundamental Analysis, Major and minor pairs and what to look out for, Trading commodities: Oil & Gold, An introduction to charting, Trading strategies and how to use them, Trading psychology, Risk Control: Position Sizing, Risk Control: Correlation, Risk Control: Support & Resistance, Support & Resistance, Candlestick Analysis, Forex Indicators: MACD, Using Technical & Fundamental Analysis, Forex Indicators: Fibonacci, Forex Indicators: Bollinger Bands, RSI Oscillator, Stochastics Oscillator, Momentum, Reversal Patterns, Divergences, Trend, Moving Averages, Parabolic Sar, Average Directional Movement Index, The Alligator, Fundamental Analysis: Economy, Politics & Geography and Traders' Psychology: Cognitive Biases.
There is also a category for short videos covering topics like; What is Forex, What is a Pip, What is Bid Price/What is an Ask Price, What Is Spread, What are Base and Quote Currencies, What is a Pip’s Worth, What is a Lot in Forex, What are Exotics, What are Crosses, What are the “Major” trading currency pairs, What is Free Margin, What is your Equity, What is your Balance, What is Margin, What is Leverage, What is Margin Level, What is Margin Call, What is Stop Out, What is a Swap, The Bid and Ask Price in Practice, What is Sell Stop Limit, What is Buy Stop Limit, What are Buy and Sell Limits, What are Buy Stop and Sell Stop, What Does Going Long and Short Mean, What does a Trading Strategy consist of?, What is a Trading Strategy based on, What is Trailing Stop, What is Stop Loss, What is Take Profit, Risk Management Rules when Trading, What is Uptrend, What is Downtrend in Forex Trading, What is FXTM Invest, How to Join FXTM Invest, How FXTM Invest works, What is the Protection Level in FXTM Invest, What is the Safety Mode in FXTM Invest, How to Choose a Suitable Strategy Manager, What is Profit Share in FXTM Invest, What is Risk Level in FXTM Invest, Introducing FXTM Invest, What is Range in Trading, What is Support and Resistance in Trading, When Should Forex Traders Buy or Sell, How to Practice Discipline in Trading and What is Trend Reversal in Trading.
Other educational materials include;
4. Beginners guide to Forex trading
5. In-depth training on trading CFDs
6. Forex Trading Strategies
7. A Forex Glossary
8. Educational Articles
9. A Periodic Table of Investment
FXTM Bonuses and Rewards
ForexTime offers different bonus promotions from time to time.
They also offer FXTM Loyalty Program. On this program traders get $5 back in cash every time they trade and have a chance of earning up to $10,000.
The loyalty rewards can be accessed with any account type. Traders should strive to work up through five loyalty levels with larger rewards at every stage. The cash can be used for trading or withdrawn at any time.
FXTM Forex Contests
FXTM Forex Contests offers traders an opportunity to compete with traders from around the world and win prizes, prestigious titles and also for an opportunity to improve the traders skills. Using the contests traders can test their strategies, polish their skills and grow their confidence.
The broker offers Demo and Live contests.
FXTM Customer Support
FXTM has an outstanding support team that is quick to respond to customer questions and concerns. The support is offered via Live chat, WhatsApp messenger, Facebook Messenger, Telegram Messenger, Viber, Email or Phone call back.
FXTM platform supports multiple languages including; English, Indonesian, Italian, Korean, Farsi, French, Arabic, Czech, Chinese, German, Hindi, Malaysian, , Urdu, Vietnamese, Polish, Russian and Spanish
These contacts can be used to contact FXTM in different countries;
Exinity Limited, 5th Floor, 355 NEX Tower,
Rue du Savoir, Cybercity, Ebene 72201,
- +44 20 3734 1025
- Mon - Fri 24 hours
- *GMT+3 during Daylight Saving Time
- Toll Free: 000800-100-4352
- Toll Free: 007 803 321 8183
- +60-3-9212 5856
- 2nd Floor, St. James House, Plot 167 Adetokunbo Ademola Crescent, Wuse 2, Abuja.
- +234 803 153 4373
- 3rd Floor, 5, Allen Avenue, Ikeja
- Lagos, Nigeria
- +234 1 460 1586
- +234 908 735 2313
- +234 803 457 3593
- Toll Free: 003-0813-2643
- +66 60 003 5095
Is FXTM Regulated?
FXTM is regulated and licensed to operate in different jurisdiction.
In the United Kingdom, ForexTime UK Limited is authorized and regulated by the Financial Conduct Authority (FCA) with license number 777911.
In Europe, ForexTime Limited is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12.
In South Africa it is licensed by the Financial Sector Conduct Authority (FSCA) with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475.
Exinity Limited is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295.
All card transactions are processed via FT Global Services Ltd, Reg No. HE 335426 in Nicosia, Cyprus.
Is FXTM a scam or safe
FXTM is a safe broker. Under Exinity Limited, FXTM is a member of the International Financial Commission (FinaCom). The Financial Commission is an independent external dispute resolution (EDR) organization for traders who are unable to resolve disputes with their financial services provider. Every member of the Financial Commission is protected by the Commission’s Compensation Fund which acts as an insurance policy for members’ clients. If a dispute is solved to the favor of a trader, the Financial Commission will cover compensation for the trader for up to €20,000 per case.
This shows that the broker has enough regulations in place and the chances of scamming traders are next to zero.
Over the years FXTM has received numerous awards for the continued outstanding Forex services they offer. Named one of the world's fastest growing forex brokers, ForexTime has made revolutionary progress in a very short amount of time.
Some of the awards won by FXTM include;
🏆 Fastest Growing Forex Broker by MENA 13
🏆 Best Forex Newcomer by World Finance
🏆 Most Innovative Product Award by MENA 13
🏆 Best Partner Program Asia by Global Banking and finance awards
🏆 Fastest Growing ECN Broker Asia by Global Banking and finance awards
🏆 Most Educational Broker by FXEmpire
🏆 Most Promising Forex Broker by CNForex
🏆 Best Affiliate Programme by Forex reports awards
🏆 Most Trusted Forex Broker by MENA 14
🏆 Best Broker by Forex reports awards
🏆 Best Broker during the IAIR Awards
🏆 Best Investor Trading Institution during the CNForex Awards
🏆 Fastest Order Execution during the Forex Traders Awards
🏆 Top Customer Service Provider at The 9th Saudi Money Expo
🏆 Best Sell-Side Analysis Contributor at FXStreet Awards
🏆 Best FX Broker at the European CEO Awards
🏆 Best Forex Brand- Nigeria by the Global Brands Magazine
🏆 Best Online Forex Trading Company Nigeria at the BOICT Awards
🏆 Forex Broker Firm of the Year Europe at The European Magazine Awards
🏆 Best Customer Service Global by the World Finance
🏆 Best FX Broker Asia by the World Finance
🏆 Forex Broker of the Year by the Global Investor MENA Awards
🏆 Most Innovative Broker by FXEmpire
🏆 Best Forex Broker Russia by FXDailyInfo
🏆 Best FX Broker Asia by World Finance
🏆 Best Trading Conditions by World Finance
🏆 Best Forex Education Provider Africa by International Business Magazine
🏆 Forex Brand of the Year 2018 (China) by Fxeye. com
🏆 Reputable Investor Education Forex Broker Award by Hexun. com
🏆 Best Online Forex Trading Company Nigeria by International Finance Awards
🏆 Best Trading Experience by World Finance Awards
🏆 Best Investment Broker by FXDailyInfo
🏆 Best European Forex Affiliate Broker Programme by Global Forex Awards
Is FXTM available in Nigeria
FXTM is available in Nigeria and with broker being named as the Best Online Forex Trading Company Nigeria in 2018 Nigerians stand to benefit a lot from the broker. With the advantage of opening trading accounts exclusive to Nigeria's currency the Naira, traders can enjoy low deposits and instant withdrawals without the conversion fees. Nigerian traders can also fund accounts with local Nigerian bank wires, or via internal transfers. Additionally Nigerian traders ca enjoy competitive deposit requirements on ECN and Standard platforms.
Is FXTM available in my country
FXTM accepts traders from these countries
FXTM accepts traders from these countries; Afghanistan, Albania, Algeria, Andorra, Angola, Antigua and Barbuda, Argentina, Armenia, Australia, Austria, Azerbaijan, The Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, Brunei, Bulgaria, Burkina Faso, Burundi, Cabo Verde, Cambodia, Cameroon, Central African Republic, Chad, Chile, China, Colombia, Comoros, Democratic Republic of the Congo, Republic of the Congo, Costa Rica, Côte d’Ivoire, Croatia, Cuba, Czech Republic, Denmark, Djibouti, Dominica, Dominican Republic, East Timor (Timor-Leste) Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Eswatini, Ethiopia, Fiji, Finland, France, Gabon, The Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guatemala, Guinea, Guinea-Bissau, Guyana, Honduras, Hungary, Iceland, India, Indonesia, Iran, Iraq, Ireland, Israel, Italy, Jamaica, Jordan, Kazakhstan, Kenya, Kiribati, South Korea, Kosovo, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Liberia, Libya, Liechtenstein, Lithuania, Luxembourg, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Mauritania, Mexico, Federated States of Micronesia, Moldova, Monaco, Mongolia, Montenegro, Morocco, Mozambique, Myanmar (Burma), Namibia, Nauru, Nepal, Netherlands, Nicaragua, Niger, Nigeria, North Macedonia, Norway, Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russia, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino, Sao Tome and Principe, Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, Somalia, South Africa, Spain, Sri Lanka, South Sudan, Sudan, Sweden, Switzerland, Syria, Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Tuvalu, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Vanuatu, Vatican City, Venezuela, Vietnam, Yemen, Zambia and Zimbabwe
FXTM does not accept traders from these countries
FXTM brand does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, the Occupied Area of Cyprus and New Zealand