FXTM Review

2.316 · 136 REVIEWS

FXTM

Updated: Aug 10, 2020 · ForexTime.com  · Is this your company?

FXTM is a forex broker. Forex Time offers the MT 4, MT 5, and MetaTrader Mobile global forex trading top platforms. ForexTime.com offers over 55 forex currency pairs, cfds, commodities, stocks, indices, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

FXTM
Other websites of this company include FXTM.com, ForexTimeChina.com.cn.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 2000:1
Minimum to Open Live: $10
Established: 2011
Address: Exinity Limited, 5th Floor, 355 NEX Tower, Rue du Savoir, Cybercity, Ebene 72201, Ebene 72201, Mauritius
Contact: support@fxtm.com, +44 20 3734 1025
Regional offices:
Regulators: CySEC # 185/12, FSC Mauritius #C113012295, FSCA #FSP No.46614, FCA #777911 / 600475
Prohibited countries:
Trading platforms: MT4, MT5, WebTrader
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (55+)
Cryptocurrencies: (4) Bitcoin, Litecoin, Ethereum
CFD: (190+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
MAM: Yes
Deposit Methods: Bank Wire, VISA, MasterCard, Alfa-Click, Bitcoin, CASHU, Dash, DixiPay, DusuPay, Ether/Ethereum, FasaPay, Globe Pay, Konnexone, Litecoin, Local Bank Transfers, Maestro, Neteller, Ngan Luong, PerfectMoney, Qiwi, Skrill, VLoad, Yandex Money
Withdrawal Methods: VISA, MasterCard, Bitcoin, Dash, DixiPay, DusuPay, Ether/Ethereum, FasaPay, Globe Pay, Konnexone, Litecoin, Local Bank Transfers, Maestro, Neteller, PerfectMoney, Qiwi, Skrill, UnionPay, VLoad, WebMoney, Yandex Money

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ForexTime.com profile provided by ForexTime (FXTM), May 15, 2018

ForexTime Ltd (FXTM) is an international online forex broker and is authorized and regulated in various jurisdictions. Our mission is to maximize the value our clients derive from their most precious commodity, "Time"! By offering advanced and innovative services, optimal customer care and perpetual devotion to our clients, we ensure that individual needs are always met as markets continue to evolve over time.

Clients benefit from segregated accounts at top-tier banks, secure deposits & withdrawals, powerful leverage, tight spreads starting from 0.1 pips, the ability to trade 250+ instruments, a variety of optimised account types on the Metatrader 5 & 4 platforms, exciting new promotions & contests. Plus, ForexTime places great emphasis on the importance of education and enables traders to improve their skills through online FX courses, local seminars and frequent webinars.
Check out the all new education section filled with videos, articles and other tools to help elevate trading skills: https://www.forextimeid.com/education/learn-forex-trading

ForexTime Ltd:
FXTM Tower, 35 Lamprou Konstantara, Kato Polemidia 4156, Cyprus
Tel: +357 25558777

FXTM Nigeria, Abuja
1st floor, Suite 109, Obum Place, Plot 1140, No. 16, Adetokunbo Ademola Crescent, Wuse 2, Abuja, Nigeria
Tel: +234 803 153 4373
nigeria@fxtm.com

ForexTime Ltd (FXTM) Nigeria, Lagos
3rd Floor, 5, Allen Avenue, Ikeja, Lagos, Nigeria
+234 14 6015 86 / +234 908 7352 313 / +234 803 4573 593
nigeria@fxtm.com

Customer Support:
Tel: +44 203 734 10 25
Mon - Fri 02:00 - 20:30 GMT+2*
*GMT+3 during Daylight Saving Time
FXTM Live Chat link: http://fxtm.co/startchat
Whatsapp: +447593612469
Viber: +447593612469
Telegram: https://t.me/FXTMftg_bot
Facebook Messenger: http://m.me/ForexTime

Languages:
- English
- Arabic
- Chinese (simplified & traditional)
- Czech
- French
- Hindi
- Indonesian
- Polish
- Spanish
- Italian
- Farsi
- Korean
- Malay
- Russian
- Thai
- Urdu
- Vietnamese

Our Trading Instruments
- FX Majors, Minors, Exotics
- Spot Metals
- CFDs on Commodities
- ETF CFDs
- Share CFDs
-Cryptocurrency CFDs

Our Trading Platforms
- FXTM WebTrader
- MetaTrader 4
- MetaTrader 5

Account Types Offered:
- Standard Account (MT4)
- Cent Account (MT4)
- Shares Account (MT4)
- ECN Zero Account (MT4)
- ECN Account (MT4 / MT5)
- FXTM Pro Account (MT4 / MT5)

FXTM Invest: THE ULTIMATE COPY TRADING PROGRAMME
https://www.forextimeid.com/investments/fxtm-invest/copy-trading


FXTM brand is authorized and regulated in various jurisdictions.

ForexTime Limited (www.forextime.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Services Board (FSB) of South Africa, with FSP No. 46614. The company is also registered with the Financial Conduct Authority of the UK with number 600475 and has an established branch in the UK.

FT Global Limited (www.forextime.com) is regulated by the International Financial Services Commission of Belize with License numbers IFSC/60/345/TS and IFSC/60/345/APM.

Card transactions are processed via FT Global Services Ltd, Reg No. HE 335426 and registered address at Tassou Papadopoulou 6, Flat /office 22, Ag. Dometios, 2373, Nicosia, Cyprus, a wholly owned subsidiary of FT Global Ltd. Address for cardholder correspondence: backoffice@fxtm.com.

Risk Warning: Trading Forex and CFDs involves significant risk and can result in the loss of your invested capital. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. It is the responsibility of the Client to ascertain whether he/she is permitted to use the services of the FXTM brand based on the legal requirements in his/her country of residence. Please read FXTM’s full Risk Disclosure.

Regional restrictions: FXTM brand does not provide services to residents of the USA, Belize, Japan, British Columbia, Quebec and Saskatchewan and some other regions. Find out more in the Regulations section of our FAQs.

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2.316 · 136 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

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Traders Reviews

Ghana, Ghana,
Jul 7, 2020,
Registered user

pure intelligent professional forex scam broker

Service use: Live

Length of use: 3-6 Months

As of 25th June 2020,my $257.80 isnt PROCESSED....My withdrawal ID is 5860463 .....i feel like CRYING(I HAVE all screenshots to these messages,replies and withdrawal request). THEY CLAIM IN MY INBOX THAT DUSUPAY IS UNDER MAINTENANCE. I TRIED TO CALL DUSUPAY HOTLINE NUMBER AND SURPRISINGLY IT KEEP GIVING WRONG NUMBER DURING DIALUP CALL... They once told me from live support that it's Dusupay delaying the process yet Dusupay doesnt even answer email replies and their hotline doesnt go through during dialup call.. So the trader is left in between this brain games of them until you finally give up...
FXTM BROKER IS SCAM BROKER... LET'S START A CAMPAIGN TO REVOKE THEIR LICENSE JUST LIKE JPMARKETS SUFFERED.
SHAME ON FXTM PRETENDING TO BE PROFESSIONAL...FAKE ECN ACCOUNT TOO...
I am currently trying to file complaints at the licensing authorities too to see if it helps. Forexpeacearmy please help us fight for my funds...
  2 traders have found this review helpful
Reply by ForexTime (FXTM) submitted Jul 14, 2020:
Hello! Please be informed that this situation with the withdrawal occurred due to an issue on the provider side. The mentioned withdrawal has been cancelled by our Company. The funds were returned to your MyFXTM account. We kindly ask you to use a different withdrawal method. Shall you have any question, please feel free to contact us via email social@fxtm.com.
Appiah Emmanuel,
Ghana, Ghana,
Jul 3, 2020,
Guest

Withdrawal through dusupay is very horrible.

Service use: Live

Length of use: 6-12 Months

As of 25th June 2020,my $257.80 isnt processed. Meanwhile one their website,it is instant to 1 day withdrawal processing. Withdrawing via visa card was okay but after i could only use to withdraw my deposit,the rest of the funds are intelligently stucked there. It took a week upon several emails to get that DUSUPAY activated through that wasnt my deposit method but in my case they activated it for me to use as visa card would not be used anymore. Since 25th june 2020, my money isnt paid, several emails gets occassional response of same stories RELEVANT DEPARTMENT IS AWARE OF ISSUE AND INVESTIGATING IT. One of live support even told me to contact DUSUPAY since they are delaying processing (in logic,how do i ask my money from a organisation i didnt deposit through in first place? Besides after deactivating African local solutions,they said it's ok to withdraw via dusupay in my case without no need for registering with them. As at now,no money ,nothing. I request call back from account manager but he never called back. Stay away and be cautious with FXTM,They are rigged to me....i feel like CRYING(I HAVE all screenshots to these messages,replies and withdrawal request)
  1 trader has found this review helpful
Reply by ForexTime (FXTM) submitted Jul 14, 2020:
Hello! Please be informed that this situation with the withdrawal occurred due to an issue on the provider side. The mentioned withdrawal has been cancelled by our Company. The funds were returned to your MyFXTM account. We kindly ask you to use a different withdrawal method. Shall you have any question, please feel free to contact us via email social@fxtm.com.
ACCRA, Ghana,
Jul 1, 2020,
Registered user

Please traders beware of fxtm. they refuse to payout.

Service use: Live

Length of use: 6-12 Months

on 10th june 2020, i made a withdrawal request of $94.32 from account USD61461180.
Transaction id number : 5757819. And it has been 3 weeks now still no money received and they keep telling me i rather should contact payment processor that they can't be held responsible if they send to processor and the payment processor fails to send to me. if they even sent it in the first place
  1 trader has found this review helpful
Reply by ForexTime (FXTM) submitted Jul 14, 2020:
Hello! Please be informed that the withdrawal was failed due to an issue on the provider side.The mentioned withdrawal have been cancelled by our Company. The funds were returned to your MyFXTM account. We kindly ask you to use a different withdrawal method. Shall you have any question, please feel free to contact us via email social@fxtm.com.
Eg, Egypt,
Jun 28, 2020,
Registered user

They are manipulated prices!!! And their ECN account is fake!!!

Service use: Live

Length of use: 0-3 Months

All friends,
Please be aware of this scam broker!!!!
Forextime are manipulated prices!!!
I have an ecn account and I opened sell positions on crude oil on 22/5 and they closed them on 26/5 as stop out on 34.89 while the highest price of crude oil on this day on platform of more than 3 others broker in addition to trading view was 34.78!!!
When i sent to them to compalints they replied with saved reply already. In addition to their account manager who i reached him to facilitate things between back office and writer but unfortunately he was the least professional of account manager i found accusing other brokers and name them as market maker!!
Im sorry but you are the truly market maker and you are assuming having ECN accounts while to mislead traders while you are manipulating prices!!!!
Please avoid this broker....forextime are untrustworthy broker!!!!
  1 trader has found this review helpful
Reply by ForexTime (FXTM) submitted Jul 2, 2020:
Hello! We can assure you that we always act with our clients’ best interests and are continually striving to provide the best possible support. The Company does not interfere with Clients’ trading activity, nor does it manipulate the prices received from its Liquidity Provider. This goes against both regulation and our corporate ethics. Please note that it is incorrect to compare prices of different broker as each one has its own set of liquidity providers, hence the prices will not be the same. We kindly ask you to send us your MyFXTM number, trading account and the order number to social@fxtm.com for investigation. We will see into your case and provide you with a detailed response.
Joak,
Cape Town, South Africa,
Jun 24, 2020,
Guest

Withdrawal

Service use: Live

Length of use: 0-3 Months

I deposited 2k usd and when i try to withdraw they tell me i should first withdraw to skrill because i had deposited in 2018. what is that?
  1 trader has found this review helpful
Reply by ForexTime (FXTM) submitted Jul 2, 2020:
Hello! Please be reminded that the withdrawal methods must be the same which was used for deposit. Kindly send us your MyFXTM number to social@fxtm.com. We will be glad to investigate your case and provide you with a detailed answer.
Ogun, Nigeria,
Jun 4, 2020,
Registered user

Terrible experience

Service use: Live

Length of use: over 1 Year

Withdrawal page was blocked and I could not withdraw through any other means
 
Reply by ForexTime (FXTM) submitted Jun 11, 2020:
Hello! We do not have any issues with withdrawals. Please specify what do you mean by “the page was blocked”? We kindly ask you to send us your MyFXTM number to social@fxtm.com and all the necessary information regarding this situation. We will be glad to investigate your case and provide you with a detailed answer.
Nigeria, Nigeria,
May 31, 2020,
Registered user

The worst Broker out there

Service use: Live

Length of use: 0-3 Months

Why your should runaway from FXTM (Forextine):
1. Fxtm is the worst broker I have ever come across.
2. Fxtm's spreads are very high, they are too greedy.
3. Their withdrawal process is horrible; they will keep holding your money until you'll start crying.
4. Deposit process takes a lot of time. It took me almost a week for them to fund my account.
5. Their customer service is nice, but their main intention is to lure you and steal your money through their dangerous spreads.

My advice for anyone about to use FXTM: DON'T EVER TRADE WITH FXTM IF YOU LOVE YOUR MONEY.
FXTM pays websites to give them good review.

For new traders intl the forex world, dont ever near fxtm cause they will make you regret it; They will discourage you with their horrible spreads, comission, withdrawal and deposits.

RUN AWAY FROM FXTM!!!
 
Reply by ForexTime (FXTM) submitted Jun 4, 2020:
Hello! Please be reminded that spreads on all our instruments are floating and not fixed, so they may change as they reflect the market conditions. FXTM provides a variety of live account types with unique trading characteristics & different spreads, designed for traders of all experience levels and deposit size.
Kindly note that the processing time for each payment method is different and can be found on our Deposits and Withdrawals page: https://www.forextime.com/trading-accounts/deposit-withdrawals#tab-deposit?utm_blocka=social&utm_source=facebook&utm_medium=social&utm_campaign=pm
The processing time might be longer if we need to request and verify additional information. Please also note that we reimburse 100% of any charged on all deposits.
If you still have any quesion regarding payment process we kindly ask you to send us your MyFXTM number and the request number to social@fxtm.com. We will be glad to see into your case and provide you with a detailed response in the shortest time possible.
Calabar, Nigeria,
May 27, 2020,
Registered user

Forex time is a scam and it's not reliable

Service use: Live

Length of use: 3-6 Months

I opened a cent account with forex time last two months and I wanted to withdraw the profits because I would not have the time to trade.

Surprisingly yesterday I was allowed to withdraw only 500 us cent and immediately I withdrew it my withdrawal account was blocked.


The sent me a mail giving me so many protocols to withdraw who does that? Is it not a scam tell me their support office doesn't even want to reply my mails.

To helm with your protocols its my money all I want is to withdraw it and leave this wicked company I would never recommend here I would make sure I Would drive all ur potential customers till I can withdraw
 
Reply by ForexTime (FXTM) submitted May 28, 2020:
Hello Lizzyuke001! We do not have any issues with withdrawals in our Company. We kindly ask you to send us your MyFXTM number and the request number to social@fxtm.com. We will be glad to investigate this case and provide you with a detailed response.
Dubai, United Arab Emirates,
May 15, 2020,
Registered user

Update to my previous review

Service use: Live

Length of use: 0-3 Months

I am glad to report that all my swaps were refunded. It appears there was a technical error on the platform that led to the removal of the swaps and introduction of charges.

Given the fact that they owned up to their mistake and took action to provide a full refund, I am quite happy to upgrade them to a 4 star rating. It would have been 5 stars but the technical fault did happen and I could have done without the stress.

Final word is that they are ok to use.

May 13, 2020 - 2 Stars I have been trading FX for many years now. I have traded with most companies out there and only occasionally do I resort to leaving a review.

First the good. They deposit and withdrawal procedure is quick and easy via Neteller(I can't comment on other methods). They have an account manager who is generally quite responsive.

Now the bad. I had a short oil trade going for about a week. I traded with FXTM specifically because the short swaps were good. It means you can hold on to the position as long as you like waiting for profit, unlike when you have to pay swaps. This morning I woke up and found that they had zeroed all my swaps(about 1200 euro) and had further levied an overnight finance charge on all my positions.

To add insult to injury, they even stole the swaps on a EURUSD position that I hold long term to hedge my trading funds(funds are in euro but I live in USD, so I don't want my trading capital to be affected by EURUSD).

In short, I would recommend staying away from this broker but won't label them as a scam.
 
South Africa, South Africa,
May 5, 2020,
Registered user

FXTM - CRIMINAL BEHAVIOUR

Service use: Live

Length of use: over 1 Year

I am hereby warning forex traders that FXTM uses false advertising to mislead. They advertise on their website that withdrawals takes 24 hours, but I have it in writing that they take 10 business days. They also advertise that they will give back your banking costs for a deposit, which is not true. FXTM have not rebutted these allegations.
 
Reply by ForexTime (FXTM) submitted May 20, 2020:
Hello! Kindly consider that the processing time for each payment method is different and can be found on our Deposits and Withdrawals page: https://www.forextime.com/trading-accounts/deposit-withdrawals#tab-deposit?utm_blocka=social&utm_source=facebook&utm_medium=social&utm_campaign=pm
If we need to request and verify additional information, the processing time might be longer. Please note that we reimburse 100% of any charged on all deposits. We kindly ask you to send us your MyFXTM number and the request number to social@fxtm.com. We will see into your case and provide you with a detailed response.

Frequently Asked Questions

Is ForexTime a good broker?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if XXX is a good broker. https://www.forexpeacearmy.com/forex-reviews/9209/forextime-forex-brokers

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent ForexTime community discussions: https://www.forexpeacearmy.com/community/tags/forextime/

What is the minimum deposit for FXTM?

The minimum deposit for FXTM is variable depending on the type of the account.

  • Standard Account: minimum deposit is $100
  • Cent Account: minimum deposit is $10
  • Shares Account: minimum deposit is $100
  • ECN Account: minimum deposit is $500
  • ECN Zero Account: minimum deposit is $200
  • FXTM Pro Account: minimum deposit is $25,000

Is FXTM a legit company?

FXTM is a brand name of ForexTime Group. ForexTime Group is authorized and regulated in various jurisdictions.

ForexTime Limited (EU):

  • is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12,
  • is licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614.

ForexTime UK Limited:

  • is authorised and regulated by the Financial Conduct Authority of UK with license number 777911. 

Exinity Limited:

  • is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295.

 

What is FXTM standard account?

FXTM standard account, the name self explains, offers traders the ability to trade standard lots. It boasts below features:

  • Trading Platforms: MT4 / MT5
  • Account Currency: USD / EUR / GBP / NGN
  • Leverage / Margin: Floating from 1:2000
  • Minimum deposit: $100
  • Commission: No 
  • Spread: From 1.3
  • Margin Call: 40%
  • Micro Lot (0.01): Yes
  • Mini Lot (0.1): Yes
  • Standard Lot (1): Yes
  • Minimum Volume in Lots per Trade: 0.01
  • Maximum Volume in Lots per Trade: 30
  • Maximum Number of Orders: 100
  • Maximum Number of Pending Orders: 100