FXTM Review

2.292 · 146 REVIEWS

FXTM

Updated: Jan 15, 2021 · 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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2.292 · 146 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

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Traders Reviews

Awka, Nigeria,
Jan 4, 2019,
Registered user

These guys are working very well in my opinion.
FXTM Nigeria is a good Forex broker, and i'm writing because of the ease of withdrawals. My first withdrawal was delayed, because i was trying to withdraw through a direct local bank transfer instead of through my CC through which i made my first deposit, but after the issue was resolved, all my withdrawal was processed that same day. Personally i don't have issues with them. They're okay for me. Thanks
  1 trader has found this review helpful
Reply by ForexTime (FXTM) submitted Jan 8, 2019:
Dear Drkennis, thank you for your wonderful review. We hope to keep maintaining your high standards for an excellent trading experience. If you require more support, please do not hesitate to contact our customer support team.

Your FXTM team.
KZN, South Africa,
Dec 25, 2018,
Registered user

Best Education

I have done clean business with Fxtm, those that say it is a scam you probably think that forex in it purest essence is a scam.
 
Lagos, Nigeria,
Dec 19, 2018,
Registered user

Withdrawal in USD and not the previous NGN currency

Hello, I have submitted a withdrawal request in USD for about 2weeks without any credit to my account. I visited the Ikeja office only to be told that it's because my previous withdrawal was in NGN and the present withdrawal being in a different currency (USD) requires stages of approvals.

This situation is rather unfriendly to my circumstance. I please need an immediate resolution to my withdrawal request.
 
Reply by ForexTime (FXTM) submitted Dec 20, 2018:
Dear Dimsum, thank you for your review. We understand that you have made an enquiry at one of our local offices, but we would like to suggest alternatively, logging in to your MyFXTM account and submitting the "Deposits and Withdrawals" form. Our dedicated team will get back to you with a detailed explanation of what happened and provide any necessary resolutions within a maximum of five business days. For more information, please don’t hesitate to contact our official customer support team. Alternatively, get in touch with your personal Account Service manager.

Thank you, your FXTM Team.
Segun,
Lagos, Nigeria,
Dec 8, 2018,
Guest

FXTM Is Quite Good

From my experience with this broker, I've come to these deductions:

1.) Fxtm Nigeria processes withdrawals same day (if not in few minutes)
2.) Never had connection issues
3.) Local deposit in Nigeria was processed quickly
4.) Their call-me-back service is second to none. I've never experienced a better call back service in Nigeria.
5.) Their customer service reps seem to understand fxtm products, and discuss with customers, unlike other brokers whose live reps sound like robots (they only copy and paste whatever their management must have designed, irrespective of the question)

My trading account is 2048045, and this review is as honest as I can tell.
 
Reply by ForexTime (FXTM) submitted Dec 11, 2018:
Dear Segun, thank you for your wonderful review. We hope to keep maintaining your high standards for an excellent trading experience. If you require more support, please do not hesitate to contact our customer support team.

Your FXTM team.
Noka Ramathelesa,
Johannesburg, South Africa,
Dec 7, 2018,
Guest

Scam! Scam! Scam!

I recently opened an account with FXTM. Everything seemed to be smoothly running from the beginning. This got messed up today when I placed a buy order at 1.27819. The market did not reach that point according to their chart and other charts from different brokers but my trading history shows that the order had been executed on that level at 10:30 South African Time. I had lost all my money due to FXTM executing an order for me on the level I didn't request
  1 trader has found this review helpful
Reply by ForexTime (FXTM) submitted Dec 11, 2018:
Dear Noka, we want to get to the bottom of this but we're not able to find your client details. We want to understand what has happened and help, but we’ll need some more details from you first. Please log in to your MyFXTM account and submit the 'Trading Operations' form. Our dedicated team will get back to you with a detailed explanation of what happened within a maximum of five business days.

As a regulated broker, the Company does not interfere with Clients’ trading activity, nor does it manipulate the prices received from its Liquidity Provider. This goes against our corporate ethics.

Thanks again for your cooperation and understanding. For more information, please don’t hesitate to contact our official customer support team. Alternatively, get in touch with your personal Account Service manager.

Thank you, your FXTM Team.
Worried,
Trader, Pakistan,
Nov 26, 2018,
Guest

Dear FPA members,

Recently I opened account with FXTM. I was contacted by the ASM on my cell phone to deposit via local transfer (an option provided by FXTM). When I emailed my ASM regarding details of local transfer he called me and said not to ask about local transfer details on email and rather contact him on Skype. It is suspicious for many reasons.
1. Why wouldn't he give the details on email?
2. Once amount is transferred to someone you don't know is risky practice.

Further, on live chat when I inquired them about my account details whether it is tagged under FCA regulation so the answer was "only residents of UK are covered under FCA regulations".

I will rather be cautious and advise others to perform all the due diligence before giving your hard earned money to someone.
 
Reply by ForexTime (FXTM) submitted Nov 30, 2018:
Dear Trader, We want to get to the bottom of this but we're not able to find your client details. We want to understand what has happened and help, but we’ll need some more details from you first.

Please log in to your MyFXTM account and submit the 'Non Trading operations' form. Our dedicated team will get back to you within a maximum of five business days.

If you have any other questions, please contact your personal Account Service manager.

Your FXTM Team.
kuala lumpur, Malaysia,
Nov 26, 2018,
Registered user

4th day Live in FXTM - 2/5

Short Version:

Pro:
1. Strategy manager system
2. I am from Malaysia. Compared to many other brokers, FXTM does offer easier deposit, and I hope easier withdrawal in future.

Cons:
1. Very inattentive customer service.
2. MASSIVE spread
3. In fact con#1 makes me post my review for the first time in FPA as I find it very hard to get their reply.
-------------------------------------
I have been trading with another broker for a few years, I can recall only 1 significant issue through these years, in which they fixed within half an hour. Have I not tried FXTM now, I would not know why my other broker is the leading broker in the industry.

What catches my attention is the copy trade system from FXTM and I would like to try it out as strategy manager. But all these issue that I faced highly discouraged me to proceed further, luckily I am yet to get my clients to deposit money in FXTM. (I manages small fund, but considered to explore strategy manager system in FXTM)

1. The response even through live chat is very slow. Whereby most answers are just standard copy paste reply. It makes me feel like it is very hard to get even just some quick and simple answer from FXTM.

2. I have sent a few email to FXTM support, but still no reply after quite a while:
Ticket# 2018112610006909, 2018112610006909

3. My mistake for not checked throughout their trading conditions before going live, but the spreads are MASSIVE, up to almost 6 pips in some cross pair eg: EURAUD,(compared to my other broker 1.7-1.9 pip) it is not even exotic pair. Heck I can even try to create synthetic pair and have lesser spread. EURUSD spread is quite high too, 2 pip - 2.2 pip. This makes FXTM basically not suitable for scalping at all. All these bonus and promotion does not make up for the fee I paid in spreads. I might check the ECN account to see if things could be better, highly doubt so.

4. I am afraid that my clients will get huge slippage from copying my trades, only 1 way to find out, but how can I be comfortable to recommend my friends and clients to FXTM with these performance? I am still a bit hopeful as I like the strategy manager system, and I hope this is just a lapse in FXTM service.
  1 trader has found this review helpful
Forex Peace Army
Review moderation team note
Please go ahead and leave a separate review for your other broker.
Reply by ForexTime (FXTM) submitted Nov 29, 2018:
Dear Clive Thien, thank you for your review. I am sorry to hear that you did not enjoy your experience with FXTM.

We trust that all your issues were addressed during your conversation with your Account Service Manager.

If you have any other questions, please do not hesitate to contact our official customer support team. Alternatively, get in touch with your personal Account Service manager.

Thank you, your FXTM Team.
Pakistan, Pakistan,
Nov 26, 2018,
Registered user

Loving the fast service

I am with fxtm from almost 2 years. I have earner 7 times more thn I have deposited and all withdrawn successfully with no issue. Now they counted me as VIP client and I have my personal manager who daily calls me if I have an issue. I do not know why so many bad reviews here lol and thats true that most of the loosers will submit reviews and the Lions are busy n hunting cash :) if I face any issue in future I will share.

Thanks

Afridi
 
Reply by ForexTime (FXTM) submitted Nov 29, 2018:
Dear Afridi, thank you for your wonderful review. We hope to keep maintaining your high standards for an excellent trading experience. If you require more support, please do not hesitate to contact our customer support team.

Your FXTM team.
vclipse22,
Colombo, Sri Lanka,
Nov 18, 2018,
Guest

Sampath

Normal broker, but they have very high swap rates.
Ex if I keep open EURUSD 0.3 lot trade for week, they add around - $75 swap fees. I think they are not suitable for swing trading at all.
 
Reply by ForexTime (FXTM) submitted Nov 22, 2018:
Dear vclipse22, thank you for your review! We do offer a swap-free option on all our accounts, except MT5. However, it does not apply to any exotic currencies.

You can select the swap-free option when opening a new trading account or enable it with the steps below:
1. Go to the ‘Accounts Overview’ section within MyFXTM.
2. Select the green arrow next to ‘Deposit’ on the trading account you wish to change to swap-free.
3. Choose the ‘Enable swap-free mode’ option.

The swap-free option is available for clients in selected countries. If the option isn’t available to your account, please email us at 'documents@fxtm.com'.

Please also note that there is a swap-free fee, which is charged for keeping positions open on each instrument over a certain period of time. The details can be found in our Contract Specifications page (https://www.forextime.com/trading-instruments/contract-specifications), under Swap Free Fee and Swap Free days allowance sections.

For more information, please do not hesitate to contact our official customer support team. Alternatively, get in touch with your personal Account Service manager.

Thank you, your FXTM Team.
Canada, Canada,
Nov 17, 2018,
Registered user

Super happy so far... Don't screw it up FXTM!

So far so good - account # 1127450 and have been trading on here for a couple weeks now and haven't encountered one issue. I've seen a lot of the bad reviews, but I would urge people to remember that users are more likely to leave reviews if they're angry - whether or not FXTM was in the wrong. From the looks of it, FXTM doesn't seem to be hiding or cowering, and they're trying their best to address concerns.
I really have nothing bad to say about FXTM - I set my account up, paid with Bitcoin, and within 48 hours, I was set up for trading on MT4.

As long as withdrawals go smoothly, and as long as they don't make that process difficult, I'll be a happy customer!
 
Reply by ForexTime (FXTM) submitted Nov 22, 2018:
Thank you madhorseman for your wonderful review. We hope to keep maintaining your high standards for an excellent trading experience. If you require more support, please do not hesitate to contact our customer support team.

Your FXTM Team.

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