FXTM Review: Features, Pros, Cons, and More 2024!

FXTM is a forex and CFD broker that provides online trading services globally. Based in Limassol, Cyprus, it is regulated by top regulatory authorities including ASIC, IIROC,FFAJ, MFSA, MAS,  FCA, CFTC, NFA, BVI FSC. FXTM offers a variety of trading instruments, including FX ,Spot Metals,Index CFDs,Commodity CFDs,Cryptocurrency CFDs, Stock CFDs . It supports popular trading platforms and tools such as MT4, MT5, fxTrade, and TradingView.

Though FXTM is a highly trusted and regulated forex and CFD broker, it has its strengths and weaknesses. In this review, we will take an in-depth look at FXTM, exploring its features, pros, cons, and more. By reading this review, you will gain a better understanding of whether FXTM is the right broker for your trading needs and preferences.

What is FXTM?

ForexTime (FXTM) was founded in 2011. The broker facilitates the trading of over 1,000 forex, CFDs, and real US stocks on its MT4, MT5, and FXTM trader platforms. FXTM states that it has over 1 million clients from over 150 countries and has won over 45 industry awards for excellent services.

Key Features:

• Applicable For: Applicable for all jurisdictions including FSC (Mauritius), CySEC , FSA-S, FSCA 
• Account Opening: Fully Online Account opening. It may take only 5 to 7 Minutes. The demo account has 30 days of validity. 
•  KYC Verification: Required 
• Trading Instruments:  FX ,Spot Metals,Index CFDs,Commodity CFDs,Cryptocurrency CFDs, Stock CFDs (only MT5)
• Trading Platforms: MT4, MT5 
• Minimum Deposit:  100 Euros, US dollars or British pounds 
• Maximum Leverage: Up to 30:1 (CySEC, ASIC), up to 1000:1 (FSA), and up to 500:1 for a professional account.
• Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.0 pips ($3.5 per lot traded on FX, $25 per million notional on Spot Metals, $35 per million notional on Index CFDs and Commodity CFD) for the Advantage account, and 1.5 pips ($0 per lot) for the Advantage Plus account.
• Minimum Trade Size: 0.01 lot. 
• Maximum Trade Size (Lot restriction per Ticket): 200 Lots 
• Funding Currencies: USD / EUR / GBP / NGN
• Maximum Number of Positions ( At a time): 200 for MT4, MT5 Live account, 100 for MT4, MT5, demo accounts, 2000 for Ctrader trading account. 
• Maximum Volume per trade: The maximum volume per trade ranges from 50 to 250 lots, depending on the platform type and tradable assets. For Shares CFDs, the maximum volume is 1000 shares in total
• Trading Style Allowed: All including Scalping, hedging, and EA Trading. 
• Stop Out Level (retail): 50%
• Margin Call Level: 80% 
• Negative balance Protection: Yes 
• Investor Protection:  Available under ASIC and CySEC regulations. However, the Investor protection scheme does not apply to FSA jurisdiction. 

FXTM Pros and Cons

Pros:

• FXTM is regulated, and licensed by top-tier regulators (FCA (UK), CySEC, FSC, FSCA) 
• Minimum deposit is $10
• The Maximum leverage is as high as 1:2000
• Ultra-low spreads starting from as low as 0 pips 
• Offers Copy Trading & MAM Accounts
• A wide range of trading instruments 
• Negative balance protection for EU Clients 
• Over 30 Payment Methods 

Cons:

• Inactivity and withdrawal fees
• Does not support Myfxbook or ZuluTrader options for social trading
• No futures or options trading
• No negative balance protection for Non-EU Clients 
• Most withdrawal options have a fee
• Large spread on standard Account 

Our Ratings for FXTM:

Review and Reputation on Public Domains:

Public review sites like Trustpilot and Forex Peace Army have become important sources of information about brokers. Many traders share their real-life trading experiences on these platforms. However, there are also many fake or paid reviews on these platforms, and sometimes competitors leave negative reviews. This makes it challenging to find genuine reviews. By carefully reading the content and context of the reviews, you can often discern their authenticity. Do not blindly rely on these reviews; instead, use them as part of your overall broker research process

FXTM Ratings and Reviews from Trustpilot:

FXTM has earned a rating of 3.4 out of 5 on Trustpilot. These high ratings indicate customer satisfaction and trust. After carefully examining the reviews, we found that most of them are genuine, provided by real users sharing their real-life trading experiences.

FXTM Ratings and Reviews from Forex Peace Army:

FXTM has achieved an average rating of 2.15 out of 5 on Forex Peace Army (FPA). We’ve observed numerous brokers on FPA, and most brokers tend to have lower ratings. Several reasons might contribute to this. There is a complaint that FPA does not approve all positive reviews and only approves negative ones for the sake of their business. To understand the real reviews, traders should focus on the content of the reviews. Typically, fake, paid, or competitor reviews are generic. While you should consider these reviews as part of your research process, you shouldn’t make decisions based solely on them. For instance, if you encounter any user complaints, you might discuss them with the broker to verify if such issues exist. Additionally, you should review the broker’s policy and terms of service.

Final Verdict:

FXTM is a regulated forex and CFD broker that offers its trading services to traders and investors worldwide. It provides a wide range of trading instruments, including FX ,Spot Metals,Index CFDs,Commodity CFDs,Cryptocurrency CFDs, Stock CFDs. The broker’s spreads start from as low as 0.0 pips, and it offers high leverage (up to 1:2000) and a low minimum deposit (as low as 100 Euros, US dollars or British pounds ). With top-tier regulations, a variety of trading instruments, high leverage, low minimum deposit, fast execution, and flexible account types, FXTM can be a good choice for many traders.

However, the broker does not accept US clients. It also does not have any investor protection scheme for non-UK/EU traders. Additionally, FXTM does not offer any real stocks or cryptocurrencies; it offers only forex and derivatives. 

If you are a forex and CFD trader looking for a trusted broker, FXTM can be an ideal choice for your trading journey. However, We always encourage traders to test brokers with a demo account or with a small deposit. Once you are satisfied with the trading conditions of the broker, you may proceed with real trading.