FXTM Review 2020 Complaints, Bonus, Scam or Legit! Expert Reviews

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FXTM Review 2020: Complaints, Bonus, Scam or Legit! Expert Reviews

FXTM Reviews: This is a forex broker that has it location in Cyprus and began operation in 2020. For more information about ForexTime (FXTM), to know whether it is a scam or legit broker and also what to expect. Then, read our review on this company.

One of the most vital part of our review is uncovering whether a company is licensed or not. To do this, we first establish the location or region where it claims to be based then we check the commission or authority regulating trade there whether it s listed among the regulated companies or not.

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FXTM Trading Platform

FXTM login offers Metatrader 4 and Metatrader 5 platforms. These platforms are very good signs as they have become some of the most widely used by experienced traders. Tools that come with these trading platforms have been found to be useful to traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily. Mobile trading platform is also available using FXTM trader app and it offers over 250 financial instruments and can be downloaded on Google play and IOS stores.

A wide range of instruments are available on FXTM. This includes 50 currency pairs, 180 US shares, 5 spot metals, 14 spot CDFs, 3 commodities and 3 cryptocurrencies depending on the account type and trading platform.

The maximum leverage offered by FXTM is 1:1000 for exinity ltd but for EU and UK brand, it is 1:30

Forex Time FXTM also offers a tight spread of 0.1pips on EUR/USD for standard and 0 pips for ECN account while the spread for shares starts at 2pips.

FXTM has two main account types: Standard account and ECN account. Standard account is subdivided into standard, cent and shares account types. ECN account has the following sub-types which are: ECN zero account, FXTM pro account and the ECN account.

One important feature of FXTM is the FXTM Invest which is a social trading program which gives inexperienced trader thee opportunity of getting sound trading alerts by following expert traders.

Bonus, promotions and contests are also available to those under Exinity ltd. A deposit bonus of 10-30% for those in Africa, China, Asia and MENA. A bonus of $25 is also available for referring a friend.

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FXTM also offers a free demo account, step by step tutorial and articles as well as online webinars and local seminars which are all geared toward educating inexperienced traders on how to trade.

Advantages of FXTM

The advantages listed in their website are: wide range of instrument, Unparalleled trading condition, globally licensed and regulated, Protection of funds, Commitment to forex education, Regular contests and promotions.

FXTM Withdrawal and Deposit Methods

FXTM broker has numerous deposit and withdrawal methods. This includes bank wires, e-wallet, credit and debit cards and cryptocurrencies. No amount is charged for deposit but withdrawals through credit and debit card attracts a fee of 2 EUR/3USD/2GBP. The minimum and maximum deposit depends on the type of account. The minimum deposit for standard account, shares account, ECN account and ECN zero account is $/€/£10 while the minimum deposit for cent account and FXTM pro account are $/€/£5 and $/€/£25,000. No maximum deposit is required for all the account types.

Support

FXTM customer service support is available in different languages. There is also a live help service available at FXTM. For more information, visit their website using the link below.

Conclusion

FXTM is a globally recognized forex broker with high level of security of funds. It has proven to be worthy of trust

FXTM Review

Introduction

Launched in 2020, Forextime.com (FXTM) quickly became a well-known name in the world of Forex trading. Their commitment to technology and the platform that they provided was only superseded by their focus on time! In a world where time is a precious commodity, their mission is to save as much as they can for their clients.

With an extremely efficient platform and several trading requirements met, they are licensed and regulated by both CySEC (Cyprus) and the FSB (South Africa). They offer several benefits to their clients and cater for the whole spectrum of experience and knowledge from beginners to high-value investors.

If you think FXTM might be the right broker for you but are unsure as to whether or not you should choose them, you may need some help to decide. Our job is to provide a detailed review of each broker to help you choose the best one for you. From the types of accounts that they offer to their licensing and regulation, we examine every aspect of trading so that you can make the right decision.

In this review, you will learn:

    What trading features FXTM offer clients The different accounts and live platforms Why FXTM is a safe and reliable broker

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Account Types

If you were expecting to find two or three accounts to choose from, then you are in for a big surprise. FXTM has a diverse list of 7 accounts. They fall into 2 categories; standard accounts, of which there are three and ECN accounts, of which there are 4. Then there is a demo version of every account so that you get the chance to familiarise yourself with the platform first.

Standard Account

The Standard Account is pretty much what you would expect from most standard Forex accounts. You can open the account with a minimum deposit of $100 and enjoy spreads from 1.5 pips. There is 57 major, minor and exotic currency pairs available to trade.

Cent Account

The Cent Account is like a mini Forex account for mini traders. The account currency operates in cents rather than dollars and pence rather than pounds. You deposit $5 rather than $100, and the spreads start from 1.3 pips. You can get all of the benefits of a Standard Account with 25 major and minor pairs available to trade in.

Shares Account

The Shares Account still requires the same deposit as a Standard Account, but you trade in share CFDs rather than currency pairs.

ECN Account

A deposit of $500, spreads from 0.1 and 45 major, minor and exotic pairs are just some of the features of the ECN Account.

ECN Zero Account

$200 deposit is required to open the Zero Account, and the spreads on offer are from 0.5 pips. There are 47 currency pairs available.

ECN MT5 Account

For a $500 deposit, you can open an FXTM ECN MT5 Account and enjoy spreads from 0.2 pips. The maximum volume per trade, like the ECN Account and ECN Zero Account, is 100.

Pro Account

The FXTM Pro Account is for serious traders with serious trading volumes. To open this account, a minimum deposit of $25,000 is required and, as you would expect, the benefits are increased.

Trade Features And Payouts

In addition to account types, promotions and other benefits of the Forex trading platform, there are also the actual trading features that should be considered:

Leverage

The leverage offered depends on the type of account that you choose. With the Standard and Cent Account, the leverage offered ranges from 1:500 to 1:25. It is the same with the ECN Accounts apart from the FXTM Pro which is 1:200. There are other criteria for determining the leverage achievable. If you are a resident of Poland, for example, the maximum leverage is 1:100.

Spreads

The spreads that can mainly be achieved depend on the type of account that you open. They range from as little as 0-0.5 pips with the FXTM Pro Account to 1.3-1.5 pips with the Standard and Cent Accounts.

Stop Loss

When it comes to Stop Loss, there are some conditions attached. If you refer to their website, you can see that you cannot execute a trade with an SL/TP position with several accounts unless you modify the position after the order is open.

Platform Types

FXTM believes in giving you a choice to decide how you want to trade. They offer several industry-leading trading platforms depending on the trading experience you are looking for. These include:

    MetaTrader4 (MT4) for PC MT4 for iOS MT4 for Android MT4 for Mac MT4 WebTrader

In addition to MT4, you can also download MT5 in all of the above formats.

If you were expecting one or two accounts on offer, then you’ll have a big surprise.

Bonuses And Promotions

FXTM offer a loyalty scheme for clients in the Promotions section of their website. This loyalty scheme is designed to save you cash on your future trades. Every time you make a trade, you are awarded points. As the points accumulate you will save money on trades.

There are also other opportunities to earn rewards as FXTM offer trading contests. The top contestants will receive cash prizes from the overall cash prize fund. There are a couple of contests available that you can enter on the website under the Promotions section.

Mobile Trading

If you want an excellent mobile trading experience then you will undoubtedly get it from FXTM. Not only do they offer a range of apps to download in MT4, they also provide the same in MT5. You can choose either platform for iPhone, iPad, Android or Mac for those who prefer to trade from a Macbook.

With so much focus on time, the broker wants to make the trading process as efficient as possible, so trading on the go is paramount. If you prefer to take your trading with you then all you need is a mobile device and an internet connection.

Deposits And Withdrawals

To fund your account, you will need one of many accepted payment methods, including major credit cards, payment wallets and wire transfer. With most forms of payment, the funds take up to two hours to process and then you can start trading. In the case of wire transfer it can take much longer; three to five business days.

Withdrawals are simple and don’t take long. With most payment methods, you get same-day withdrawals, not something that every broker offers. There is a $3 processing fee for a credit card withdrawal, with percentage fees for payment wallets and a more substantial fixed fee for wire transfers.

Special Features

While you will find most brokers offer very similar features and benefits, there are those special features that set them apart from the competition. In the case of FXTM, these include:

    A demo account for every different type of account so that you can simulate your trading experience before you invest Lots of useful trading tools like market analysis, videos, apps and live rate information to help you trade A strategy manager that you can follow to copy their trading or use their expert advice to aid your decisions

Customer Support

At the top of the site, in a clearly labelled position, you will find a “get in touch” tab. If you click this you are given the option to check the FAQ section, open up a live chatbox or “contact us”. If you click the contact us tab you will find several ways to get in touch with someone. There is a list of country numbers along with email addresses and office addresses. There are also several email addresses for specific departments like “Account Opening” and “Disputes/Complaints”.

In addition to the usual contact methods you can also see the links to all of their social media accounts; Facebook and Twitter always a good fall back if you have no joy getting the answers you need through the traditional methods.

Here are the contact details for FXTM:

    Email – [email protected] Phone – +44 20 3514 1251 Address – ForexTime UK Ltd, 88 Wood Street, 9th Floor, London, EC2V 7QR, UK

Conclusion

FXTM is a well-established name in the world of Forex trading with respect for different cultures and preferred methods of trading. They do not offer their services to those countries that prohibit Forex trading and display their licensing and regulation. They are a highly visible broker with all the answers to your questions displayed on their website.

When it comes to technology, they are very advanced with a dynamic range of platforms and accounts all designed to give you precisely what you want. Their mission is to save time and make the process as easy as possible. With competitive spreads, leverage and other features like Stop loss, they offer everything you would expect from a good broker.

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Frequently Asked Questions

Is FXTM legit, will they scam me?

Being established since 2020, in this time, FXTM has earned an excellent reputation as a reliable and safe broker. Their licensing and regulation should further instil confidence that this is a broker that won’t scam you.

Do they have a decent mobile or tablet app?

Not only do they have a decent mobile and tablet app, but they also have more than one of each. Depending on what you prefer, MT4 or MT5, you can choose your experience.

What bonus do they offer for new traders?

There isn’t a specific bonus on offer at the time of publishing this review; however, there is a loyalty scheme. The scheme is on five levels of trading and gives you savings on your trades.

Can I start trading on a free demo account?

Yes, and not just one demo account. Depending on the main account you choose, you will have access to a demo version of the live account.

What’s the min. deposit and ideal trade amount?

The minimum deposit required depends on the type of account you open. The Cent Account requires a deposit of $5. The Pro Account needs $25,000. The minimum trade size is 1% of your account balance.

Contributing to the website since 2020 we are one of many consultancy projects Samuel works on. With 38 years of experience in finance, insurance and foreign exchange his combined knowledge makes him an effective operator.

FXTM Reviews and Comments 2020

Why dusupay withdrawal option is not available after you have made deposit via it?

FXTM is great. Many experience withdrawal issues cause they don’t understand how withdrawals are done. You are also charged 3% non trading fee if you don’t trade. I love FXTM and their support is great.

FXTM so far, been so good I have enjoyed the platform as a strategy manager.

Fxtm is a loyal and reliable forex broker you can trust, quick and delicate response, and when you encounter any problems they gladly help you and even give you alternative solutions to your problems, FXTM is a guaranteed broker which doesn’t need misunderstandings so you have to be completely honest and straight up facts when you are the account holder and you won’t have any problems with this broker ??

Moshidi Gashia: did you able to withdraw your fund?

Khan 24 December, 2020

Everyone needs to test brokers out for themselves. I’m currently waiting for funds from FXTM. I made a withdrawal 17 days ago, still waiting. Also their customer support is very slow to respond. At this stage I’m sceptical if FXTM really wants you to withdraw any money. It’s quite the opposite when it comes to deposits. When I was struggling with a deposit they phoned me immediately and helped me then and there on the phone and made sure the money was deposited. Let’s wait and see, I will comment again once / if I get my funds withdrawn. 17 days and counting.

Johan Barlow, did you get your money, if so, after how long? I’m having issues getting my money.

Ole 16 March, 2020

I have not been trading here very long – for about a year. Not a very long time but the impression is very positive. Several times withdrew profits. The amounts are certainly not huge but everything was paid out. They do everything very efficiently and competently. Great customer support and willingness to help. Each client has his own approach. Great company recommend.

i opted for a withdrawal using my card 3 days ago, when exactly am i getting my money?

Hi Cruise, have you been paid your withdrawal by FXTM?

Steve 11 December, 2020

Be incredibly urgent at night, be careful not to spread (30-40-50 . )

It seemed legit and user friendly in the beginning, but it seems that the FXTM system is manipulated to take trader’s money as soon as the trader starts making commission. This is what happened to me: I deposited $ 69, i was trading spot gold and spot silver, they gave me good profit, as soon as i closed the positions, i dicided to check my balance, i couldn’t believe what I saw, the sytem placed a position on my behalf with all my money and closed the position quickly duie to stop out. This is hard to believe but this FXTM seems to be a scam.

A cheating company. I deposited $20 and asked them to give back, they rejected. Then recently said every month will deduct $5 from this $20 due to no trading. And still reject to give back my money.

FXTM is a cheating company. I just open account and put in $20, my friends told me that company has quite higher slippery, and also very procrastinate in dealing with the custom requirement. I then ask them to give back my money, I don’t want to trade this company again. I’ve never trade so the money is there. Again and again, they deny by various reason. I really confirm what my friend’s word, they rejected to give back my money, and bounced back my email. This is a scam company.

Fxtm is very good ecn broker. using this broker more than one year. Deposit and withdrawal is free. very low spread. Support team is very helpful specially Mr. Alokesh Bhattyacharya.

Recently, I contacted with this broker. The support team did do very good jobs. The questions I am not sure are money issues when I check their funding methods. In the website, FXTM said it took credit card. Inside, it did not take credit card. Will it become a problem in the future or not? Which way should be best efficient to deposit and withdraw the fund? Please give us some advice. Thank in advance.

David 10 April, 2020

Since i have been started the dealing with FXTM is the Good

I am one of the clients who got scammed right in front of my eyes. I used to trade with FXTM back in 2020, and since then they had flopped so hard to the point there is no return. First, they introduced investor scheme which in fact is a scam. Second, their spreads are ridiculous on both ECN and non ECN account. Third, their commission and withdrawal fees are one way/method to stop you from withdrawing your earnest profits fully. This broker is surely one *** up broker.

They are scammers who flood the internet with fake reviews from people who claim to be happy with their service when they really just want you to put your money in then take every cent of it. I deposited money so i can trade with them soon as i start trading the spreads suddenly changed when i wanted to move to another broker they refused to let me withdraw my funds

Guys, I feel sorry for all you people rated this broker as best. pls understand and calculate your profit in points. then u will understand the scam behind the scene.

I’ve participated in several FXTM’s weekly webinars and want to say that they are quite interesting and useful. I’ve gathered a lot of helpful from them.

This is the best broker I’ve been with so far. Fast and easy withdrawals and deposits on accounts.

I couldn’t agree more. unlike hotforex’s well planned scams! especially the competitions. hot forex (competitions) seem legit but are scams. FXTM is the best for me so far, their competions are open and you can check yourself as you please. no suspicious activities and the spreads are just sweet!no hick ups on the platform. I’m really loving this broker – competition wise.

Trader 101 7 August, 2020

I feel sorry for you. find out some other good ECN/STP broker. i bet you will end up blowing your account. If you still have doubt, pls check the spread level, try converting profit in points to deposit currency.

Kishor Kumar J 30 October, 2020

Join FXTM and get frustrated. They put Moneynet on their website as a bank wire deposit method. After I deposited then they remove it and put Armswissbank and then tell me moneynet is no longer available. And now i lost my money because they dont even respond to my emails. On their live chat you keep getting someone who will tell you we will check and then they are gone. the next day they ask you the questions again and again. Boring. my acc is 61116318

Excellent company for trading! I can not say anything bad. If you have your hands in proper place, knowledge is enough. You are not a loser and you know how to trade, then this company is right for you. Well, personally, I have never had any problems, I always withdraw everything without any problems. As I was assured in the department of customer support, any problems are solved, all okay.

I like the broker, first of all, the quality of execution of orders. Everything works quickly, without delay, without hanging. Requests are missing. I also have an account with a fixed spread. There, in general, the trade is a song, and if I do not bother that the spread is slightly larger than in other cases, I have not seen a more comfortable company. Although, to trade here, you need to invest more than with other brokers. From 2 thousand dollars, which I think is not small. But then to trade and earn much easier, because of those things about which I wrote in this review.

I sincerely wish to drop this review at least to aid others especially fellow Armenia in their choice of broker, FXTM is no doubt one of the best if not the best, excellent trade execution, transparent, trust worthy and highly reliable, the keep to their word and promise. I really appreciate their the great efforts the put in rendering excellent services and i hope the maintain the high standard. I placed a withdrawal of 4100$ my account was credited as promise and am indeed really proud of FXTM. To all armenia people seeking of a reliable and trust worthy broker fxtm is your top choice and i highly recommend them to everyone.

FXTM is a very good site to obtain trading tools that are difficult to find elsewhere. However, you need to be sure of what you’re looking for or using in trading decision process, e.g., subscribed to analytics that was correctly provided for my needs but did not applicable as expected. It’s appeared to be difficult to use in particular market situations. Also, trying to get hold of customer service by phone is impossible. They do not list a phone number for these sort of services. I also found lots of negative reviews on fxtm. Don’t think they are all based on real experience but in few cases broker refused to take responsibilities for price errors, which lead to stopped out my opened positions.

The site of FXTM has enough information, which helps to get the basic knowledge on the trade. before opening a real account, you should try to get the maximum knowledge. If there are necessary materials on the website of your broker from, it makes your task simpler. In fact I combined theory with practice. Due to this very I acquired all skills very quickly.

FXTM is a reliable company which offers the best of the services to its users.My handling with this site has been absolutely smooth and comfortable. FXTM is undoubtedly excellent,trustworthy and highly reliable. The efforts they put in providing their users the best services is appreciable and i have high hopes with them that they continue to maintain their standard.This site provides sufficient knowledge of trade before having a real time experience.

I have been trading well with Fxtm until one day, i logged off and when I logged in after 20 minutes two of my orders in negative were closed on behalf and I am absolutely sure cause before I logged off my balance was still the same but when I logged in my balance was less which I didn’t get, still waiting for my situation to be resolved. Anyone ever experienced this with Fxtm or other brokers?

According to so many comments, FXTM is reliable company. But I have some question regarding withdraw funds and using bonuses capital. In my case, I wasn’t able to withdraw bonuses. It took me several days to figure out that money still on my balance. I made a phone call immediately to customer support. Can you guess what they said to me? There is no actually an access to bonus capital until you make specific amount of transaction and generate enough commissions. The problem that the broker promised to allow withdrawing all money from trading account. So it took me 2 weeks to get money back. I closed my account but I wouldn’t able to get $300 bucks as bonuses for opening account and extra deposits.

I joined fxtm few years ago and demo traded for 2 days. Live account from 2020, withdrew some money as a test, all went smoothly.

I am not really into trading but my friend told me that it is best to invest doing online trading, i can do it during my free time and no need to start really big but can earn good profit. Not really into it but i gave it a try with this broker. They have ecn brokers and expert broker that is willing to help me and show me updated strategies. I have learned so much from my broker, They have quick customer support, I can reach them be it on chat, phone or email easily. I withdraw my first profit and did not have any problem, easy process. I like how they handle traders and how i earn from this company. Don’t just take my words for it, try it and start earning!

Are you sure that you, like so many other “reviewers” on this site, aren’t just typing positive comments because you’ve been paid to?

David Spader 8 October, 2020

How can you not know the first thing about trading but know the intricacies of the different account types?

Andile 24 February, 2020

I am retired and just at home most of the time, so i needed something to get busy with and earn profit, in short i need to do something to keep me busy. my neighbor told me about this broker. Interesting enough, knowing i can invest and earn profit for a minumum trading amount with this company, so i did! i have upgraded my account already and earning more profit now that i used to do. happy being online and earning at the same time. thankful to this broker.

The FXTM brand was launched in 2020, with a unique vision to provide unparalleled trading conditions and all-encompassing educational tools for clients in the forex industry. In the course of just a few years, FXTM has firmly established itself as a global broker; basing its entire philosophy.

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