FXTM Review

2.229 · 153 REVIEWS

FXTM

Exinity Limited

Updated: Oct 19, 2021 · ForexTime.com  · Is this your company?

FXTM is a regulated by FCA (UK), CySEC, FSC, FSCA forex broker established in 2011. ForexTime is offering MT4, MT5, WebTrader and FXTM Trader mobile app.

Trading instruments include over 55 currency pairs, Bitcoin, Litecoin, Ethereum cryptocurrencies as well as Stock Indexes, Stocks, Gold, Silver, Oil and other commodities.

Scalping, News Spike Trading and Expert Advisors are supported. Investors may choose to follow successful traders through managed account services. Wide spectrum of trading education materials is provided.

Please read FXTM Reviews below and share live trading experiences with this broker.

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

Live discussion

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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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2.229 · 153 REVIEWS
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Traders Reviews

Ondo, Nigeria,
Oct 10, 2021,
Registered user

Denying of my deposit have been resolved

Service use: Live

Length of use: over 1 Year

The issue I brought here of my #45000 that I deposited have been credited to my trading account now thanks

Sep 30, 2021 - 1 Star I deposited to fxtm bank account and they denying me of my fund which I deposited to their gtbank account with amount of #45000 and the receipt of the deposit has been sent to them, and they refused to fund my trading account, please trader beware of this fxtm company, don't fall a victim.

Reply by ForexTime (FXTM) submitted Oct 1, 2021 Hello!We are kindly asking, please send your MyFXTM account number to our email address support@fxtm.com. We will check this information and promptly reply.

Review Moderation Team Note: This reviewer did provide an account number. While you are logged in as a company representative, you should be able to view it.
 
Bangalore, India,
Sep 2, 2021,
Registered user

Worst Services

Service use: Live

Length of use: 0-3 Months

Fxtm is the worst of all the brokers I have come across. It's not even one month but a lot of false promises and issues.

1) I couldn't use the FxTm mobile app with a live account. Demo works fine, I don't know why? Contacted customer care chat 15 days ago. Instead of understanding what the problem is, they keep on saying: restart the phone, uninstall and reinstall the app, enter the login id and password correctly, send the screenshots. Seriously? Don't you know that without a correct id and password I can't even login to the app. Finally after 1 hour of chat and doing useless things, chat person said that they are contacting the relevant department (I don't know what that department is) and they will get back to me. But they never show up. So, I started a chat again after a couple of days.. you know what? Same thing... restart the phone, uninstall and reinstall the app... blablablaaa. Again the same answer, our relevant department will get back to you.

2) Finally I have written an email and the reply was again... we will get back to you. It's more than 15 days now.

3) They started charging me swap-free everyday for open positions. I didn't know my account was a swap-free. So, I logged in to the portal and tried to disable the option. It will say "Success", but still show that option in Green. I tried more than 100 times.

I again contacted customer care chat and informed about this. They started like this:- Go to you portal, select the account, click on the swap-free bla bla blaa. Seriously? I was saying that I have already tried that. And they asked me to send the screen shots, which is their template response. I sent and the same template reply again.. our relevant department will get back to you.

And they keep charging my account with some $10 everyday per lot, for their issues.

4) Again I have written an email.. stating the issue that I am unable to disable the swap-free option, I have also asked them the status on the issue with mobile app. Asked them for a refund of charged too that were applied because of this issue.

I was shocked to see the reply. They bluntly said that they don't refund and keep on charging even after I asked 100 times to disable the swap-free. Finally they said they have sent this to the 'relevant' department and they will disable the option. BUT still it is not disabled. And they will keep on charging the fee and I have to pay?????

In that reply, regarding the mobile app, their answer was: Please let us know what's the issue with mobile app???????? WOW! Again started from the beginning.

I am vexed seriously and I am going to close my account with FxTm after withdrawing everything left in the account. I thought of adding more funds if I am satisfied with the services. But now a big NO.

They are here to loot your accounts, that's all. I will go back to my old broker. They are far better!
 
Reply by ForexTime (FXTM) submitted Sep 3, 2021:
Hello KiranAG! We are so sorry that these complications occurred while working with our Company. We are kindly asking you to send us a message to social@fxtm.com. In the message, please specify your MyFXTM ID number. We will make a detailed check and provide you with a prompt response. Thank you in advance.
Kaduna, Nigeria,
Jun 24, 2021,
Registered user

Trade fraud, closing trade without reason

Service use: Live

First I place a buy trade order but they rather sold it. Secondly the four hour candle traded on did not appear or was not active on the chart. Thirdly there was manipulation on price, other brokers open with gap prior to news release yesterday but fxtm did not. Lastly fxtm stoped me out of trade without my concernt and with my active margin. Therefore I want them charge to return back my money soonest. I have proves both videos and photo images which are readily available for your further reference.
  1 trader has found this review helpful
Reply by ForexTime (FXTM) submitted Jun 28, 2021:
Hello Baba Paul! We are sorry to hear your frustration. Please note that 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. We kindly ask you to send us the Trading account number and Order Number to tradeenquiry@fxtm.com. We'll look into your case and provide you with a detailed response in the shortest time possible. If anything is wrong we will look to compensate you for the losses.
Muscat, Oman,
May 26, 2021,
Registered user

deposit is easy .... but try to withdraw !!

Length of use: 0-3 Months

I open an account the deposit took almost 2 seconds using credit card

when I tried to withdraw
they asked me for
1- national ID card photos
2- credit cart photos
3- bill or tax photos

which takes time to be processed

and time to be verified

and time to be accepted

and time to be refund


until now i could not withdraw !! 400$ in their website and they take charges for each day if I am not trading
  1 trader has found this review helpful
Reply by ForexTime (FXTM) submitted May 27, 2021:
Hello Mohammed Al Zarii! Please be informed that in order to withdraw your funds, your account needs to be totally verified. This procedure is needed to verify that you, our Client are the one who is withdrawing the funds, not a third party. Please be informed that to fully verify your MyFXTM account, all Clients are asked to provide us with 2 documents: 1) an identity document (ID slip, passport, driving license); and 2) a proof of residence document showing your current residential address. In order to process your withdrawal, FXTM requires a color copy of both the front and back side of your card. For security purposes we recommend that you cover all digits except the last 4 on the front side of the card, also cover the last 3 digits on the back side of your card (we do not require the CVV code). All of these requirements are stated on our website. If you have any further queries, please contact our Customer support team via Live chat. Our team will be happy to answer any questions you might have!
Bogota, Colombia,
Apr 16, 2021,
Registered user

Stay way from FXTM Invest program!!

Service use: Live

Length of use: 0-3 Months

I was attracted by their copy trading AKA FXTM Invest program. I invested $500 and after a month I was quite happy. Then, the Payout Date happened, my balance was 10% up from my initial deposit, so I was expecting that some $10 deduced from my balance (having plenty of free funds from my equity), instead of that, FXTM "paused" my account, meaning they closed all open positions, forcing me to take the entire drawdown (-5%), and a minute later, they open they back at a market price (making me pay commissions back again). Seriously FXTM, who implemented such a dumb algorithm? Shame on you FXTM, scamming investors with those cheap tricks.

for those out there who still interested in the invest program, let me summarize the negative points that I found, compared with other platforms out there:

1) You are forced to copy open trades each time you deposit funds. Other platforms allow you to choose but not FXTM. Copying open trades makes sense in case of long-term portfolios, but for the forex market, that simply doesn't work, and most certainly, it will mean taking losses.

2) It is no "social" at all. There is no way to contact your strategy manager, all they have is a "News" blog, but it is a one-way channel and most managers don't publish anything at all.

3) Pausing your account means closing open positions. In other platforms pausing the copy means that future positions open by the manager will no longer be mirrored in your account while waiting for the current ones to be closed at the proper time by the manager. Essentially, allowing a smooth way out. But in FXTM for you to stop copying you are forced to close the ongoing positions.

4) You will be re-charged commissions of your entire portfolio each time you add or withdraw funds as FXTM will close all positions and open them back again at a market price.

On the positive side, profit shares are charged only once a month based on the over all equity, even taking into account losses from previous months. I hope you find this helpful.
 
Reply by ForexTime (FXTM) submitted Apr 16, 2021:
Hello! We openly declare the terms of any service provided by the Company. All terms and conditions can be found on our website in the Account Opening Agreements section, where "FXTM Invest" service conditions are described in details. We always recommend to download and read through each of the Account Opening Agreements carefully and make sure you understand the implications of each one.
Kindly send your FXTM ID to investments@fxtm.com, the Investment department will alanyze your trades and provide you with a complete explanation on all your queries. Also, if you have suggestions on how the Investment program can be improved, kindly send them to complaints@fxtm.com.
Seoul, Korea, Republic of,
Mar 15, 2021,
Registered user

Although not the best, it is a good broker.

Service use: Live

Length of use: 6-12 Months

I have used this broker for over 6 months with my MT4ECN account.

Advantages I think.
0. Above all, when using an ECN account, the spread is very tight and the commission is low.
1. Deposits are made almost in real time, and withdrawals are rarely delayed.
2. There was no limit to withdrawal of bonuses obtained through promotions.
3. The response from the support team is quick.


Disadvantages I think.
1. There is a fee when withdrawing money using a credit card (there are many brokers that do not have a fee).
2. There are limited ways to withdraw the proceeds. (For example, withdrawal through bitcoin is only possible for the amount deposited).


I am using another broker because the deposit and withdrawal method I want has not been added, but if that part is resolved, I will use it again.
 
Reply by ForexTime (FXTM) submitted Mar 15, 2021:
Hello! Thank you for the feedback.
Delhi, India,
Mar 12, 2021,
Registered user

IN SIMPLE WORD SCAM...!!

Service use: Live

Length of use: 0-3 Months

They will not let you to withdraw money. please don't trust on this broker. I lost a huge amount.
 
Reply by ForexTime (FXTM) submitted Mar 15, 2021:
Hello! We are sorry to hear you about your frustration. We’d like to point out that we do not have any issues with withdrawals. We kindly ask you to send your FXTM ID and the withdrawal request to social@fxtm.com. We will be glad to investigate your case and provide you with a detailed explanation on the situation.
Abeokuta, Nigeria,
Feb 25, 2021,
Registered user

INVESTMENT ACCOUNT SCAM AT FXTM

Service use: Other

Length of use: 0-3 Months

I was defrauded by fxtm by allowing my investment account to drawdown below my stipulated protective loss of 75% without any explanation behind it.
Also my account was wrongly paused.
 
Reply by ForexTime (FXTM) submitted Mar 1, 2021:
Hello! We are deeply sorry for the negative experience you had with FXTM. We kindly ask you to send your FXTM ID and the Investment account number to tradeenquiry@fxtm.com with a detailed description of what have happened. Our relevant team will look into your case and provide you with a thorough answer in the shortest time possible.
60625, Morocco,
Jan 4, 2021,
Registered user

We all suffer from several problems in our accounts

Service use: Live

Length of use: 3-6 Months

We all suffer from several problems in our accounts, but when you address these problems we are happy and satisfied with our broker and soon we fall into other problems, and so it is normal.
Regarding my experience with this broker, I suffered, like you, from several problems in the beginning, and this is normal because I am new to the broker, and indeed all problems have been reviewed transparently and have been addressed in a timely manner. I closely monitored my account and did not find any indirect interference by the broker in my account. The confidence increased between me and this broker is five stars because you are the best broker with all the advantages.
For reference, all payments and withdrawals pass very normally
Thanks FXTM
 
Reply by ForexTime (FXTM) submitted Jan 14, 2021:
Hello! Thank you for your review!
Lagos, Nigeria,
Jan 4, 2021,
Registered user

All my profit taken from my account

Service use: Live

Length of use: over 1 Year

All my trade profit taken from my account and the reason for this is error quote from their liquidity providers. But when I make lost from error from liquidity providers they don't restore the loss. Please return my money back
 
Reply by ForexTime (FXTM) submitted Jan 14, 2021:
Hello! We can assure you that we always act with our clients’ best interests and are continually striving to provide the best possible support. We kindly ask you to send us your MyFXTM number, trading account and the order numbers to social@fxtm.com for investigation. 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