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Score

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/10
The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints!

FXTM

United Kingdom|10-15 years| Benchmark AAA|
Straight Through Processing(STP)|MT4 Full License|Global Business|Suspicious Overrun|High potential risk|Offshore Regulated|

https://www.forextime.com?utm_source=fxeye.com&utm_medium=display&utm_content=fxeye_propage_en_hp&utm_campaign=hp&utm_term=na&utm_blocka=mediabuy

Website

Rating Index

6.46

Benchmark

Benchmark

AAA

Average transaction speed (ms)

407.6 Good

MT4/5

Full License

ForexTime-ECN-Zero-demo

Nigeria
MT4
330

Influence

AA

Influence index NO.1

Kenya 8.12
The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints!

Benchmark

Speed:AA

Slippage:AAA

Cost:A

Disconnected:AAA

Rollover:C

AAA

MT4/5 Identification

MT4/5 Identification

Full License

330
Server Name
ForexTime-ECN-Zero-demo MT4
Server Location Nigeria

Influence

Influence

AA

Influence index NO.1

Kenya 8.12

Surpassed 64.60% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+44 20 3734 1025
https://www.forextime.com?utm_source=fxeye.com&utm_medium=display&utm_content=fxeye_propage_en_hp&utm_campaign=hp&utm_term=na&utm_blocka=mediabuy
5th Floor, 355 NEX Tower, Rue du Savoir, Cybercity, Ebene 72201, Mauritius
https://www.facebook.com/FXTM-Korea-189916104903617

Licenses

VPS Special
+100%
2*CPU
2G*RAM
60G*HDD
2M*ADSL
Free

Disclosure

More

Danger

ID BAPPEBTI
2022-02-01

Danger

MY SCM
2020-12-31

Contact number

English

+44 20 3734 1025

English

+62 7 803 321 8183

English

+234 1 460 1586

English

+254 207 640 415

Other ways of contact

Broker Information

More

Check whenever you want

Download App for complete information

WikiFX Risk Alerts 3
Previous Detection : 2024-11-20
  • The number of the complaints received by WikiFX have reached 42 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • This broker exceeds the business scope regulated by South Africa FSCA(license number: 50320)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!
  • The Mauritius FSC regulation with license number: C113012295 is an offshore regulation. Please be aware of the risk!

WikiFX Verification

FXTM · WikiFX Survey
FXTM Joins Wiki Finance EXPO Bangkok 2024
Thailand
EXPO
FXTM · Benchmark
Average transaction speed(ms)
407.6 Good
The highest transaction speed(ms)
17 Perfect
The highest speed of opening positions(ms)
20 Perfect
The highest speed of closing position(ms)
17 Perfect
The lowest speed of opening positions(ms)
1963
The lowest speed of closing position(ms)
1994 Poor
8.79USD/Lot Great
25.71USD/Lot Perfect
Long: -7.43USD/Lot    Short: 2.19USD/Lot
Long: -41.22USD/Lot    Short: 17.31USD/Lot Poor
Average slippage
-0.1 Great
Maximum transaction slippage
29 Poor
Maximum positive slippage
-4 Great
Maximum negative slippage
29 Poor
Average disconnection frequency (times/day)
0.2 Perfect
Average reconnection time (millisecond/per request)
18.6
Ranking: 2 / 128
Test user 5,257
Orders 21,670
Ocuppied margin $24,646,354 USD
Data Source WikiFX Data provide
Updated: 2024-11-18 09:00:00

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Total Margin Trend

  • VPS Region
  • User
  • Products
  • Closing time
  • Taipei
  • 328***
  • NZDUSD
  • 11-20 12:47:28
  • Shanghai
  • 800***
  • EURUSD
  • 11-20 12:33:08
  • Frankfurt
  • 177***
  • EURUSD
  • 11-20 12:35:50

Stop Out

0.76%

Stop Out Symbol Distribution

6 months

Sources
Google 96.38%
Bing 1.28%
DuckDuckGo 0.69%
Video 0.59%
Yahoo 0.57%
Others 0.49%
Language
English 41.53%
Simplified Chinese 39.99%
Thai 10.32%
Arabic 4.73%
Vietnamese 3.25%
Others 0.18%
Mkt. Analysis
Direct 60.42%
Search Organic 29.25%
Referral 2.53%
Email 2.28%
Social 1.98%
Others 3.54%
Creatives
Branding 89.91%
Bonus 3.98%
Cashback 3.12%
Investor Education 2.19%
Software 0.53%
Others 0.27%

FXTM · Company Summary

FXTMBasic Infromation
Founded 2011
Registered CountryUnited Kingdom
HeadquartersCyprus, UK, Belize
RegulationFCA, FSC (Offshore)
Trading InstrumentsForex, metals, commodities, stocks, indices, cryptocurrencies
Demo Account
LeverageUp to 1:3000
Spread Close to zero on major FX pairs
Trading PlatformMT4, MT5, mobile trading
Minimum Deposit$/€/£200
Payment MethodKenyan/local transfers (local Indian payment methods: UPI and Netbanking, local Nigerian instant bank transfers, equity bank transfer, Ghanaian local transfer, Africa local solutions, M-Pesa, FasaPay, TC Pay Wallet), credit cards (Visa, MasterCard, Maestro, Google Pay), e-wallets (GlobePay, Skrill PayRedeem, Perfect Money, Neteller), bank wire transfer
Customer Support24/5 - live chat, contact form, Telegram, WhatsApp, phone, Help Center
Regional RestrictionsUSA, Mauritius, Japan, Canada, Haiti, Iran, Suriname, the Democratic People's Republic of Korea, Puerto Rico, the Occupied Area of Cyprus, Quebec, Iraq, Syria, Cuba, Belarus, Myanmar, Russia and India

FXTM Information

FXTM, or Forex Time, is a global forex and CFD broker founded in 2011. The company is headquartered in Cyprus and is regulated by the Financial Conduct Authority (FCA) in the UK and the Financial Services Commission (FSC) in Mauritius. FXTM offers a variety of trading instruments, including forex, metals, commodities, stocks, indices, cryptocurrencies. In terms of trading fees, FXTM offers variable spreads on most of its instruments, with spreads close to 0 pips.

FXTM also offers multiple choices of trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These platforms are available in desktop, web, and mobile versions, which allows traders to trade on the go and from anywhere in the world.

FXTM's homepage

FXTM Pros and Cons

ProsCons
  • Regulated by FCA and FSC
  • High minimum deposit
  • Tailored account types
  • A flat $3 transaction fee for any deposit or withdrawal less than $30 or equivalent
  • Demo accounts available
  • No 24/7 customer support
  • Islamic accounts available
  • Region restrictions
  • Access to MT4 and MT5
  • Multiple funding and withdrawal options
  • Rich eductaional resources
  • Rich trading tools
  • High-quality customer support

Is FXTM Legit?

FXTM operates under a strong regulatory frame, and it has several entities that are regulated in different jurisdictions:

Regulated CountryRegulated AuthorityRegulated EntityLicense TypeLicense NumberCurrent Status
FCAExinity UK LtdStraight Through Processing (STP)777911Regulated
FSCEXINITY LIMITEDRetail Forex LicenseC113012295Offshore regulated

Regulated by FCA

Regulated by FSC

Market Intruments

FXTM offers over varioustradable instruments, covering forex, metals, commodities, stocks, indices, cryptocurrencies. However, this broker does not currently support trading on futures, options, and ETFs.

Tradable Assets Supported
Forex
Stocks
Indices
Precious Metals
Commodities
Cryptocurrencies
Futures
Options
ETFs

Market Intruments

Account Type

FXTM offers three different types of trading accounts, which are the Advantage account, the Advantage Plus, and the Advantage Stocksaccount. All accounts require a minimum deposit requirement of 200. Each account type has its own unique features and benefits, such as different spreads, commissions, and trading instruments.

Account comparison

Demo Account

FXTM offers demo accounts for all its account types. These demo accounts allow traders to test their trading strategies in a risk-free environment using virtual funds. Demo accounts are also useful for new traders who want to learn how to trade before committing real money to live trading.

How to Open an Account?

  • To open an account with FXTM, you first need to visit their website and click on the “OPEN ACCOUNT” button on the top right-hand corner of the page.
click on the OPEN ACCOUNT button
  • This will take you to the account registration page where you will need to fill out some basic personal information like your name, email address, and phone number.
fill in required info
  • Next, you will be asked to choose the type of account you want to open. FXTM offers three main account types - Advantage, Advantage Plus, Advantage Stocks, each with its own features and benefits. You will also need to select the base currency of your account and agree to the terms and conditions of the broker.
  • Once you have selected your account type and base currency, you will be prompted to provide some additional personal information like your date of birth, occupation, and address. You will also need to answer a few questions about your trading experience and investment goals.
  • After you have completed the registration process, you will need to verify your account by providing some additional documents like a copy of your ID or passport and a proof of address like a utility bill or bank statement.
  • Finally, once your account is verified, you can then make your first deposit and start trading.

Leverage

FXTM offers leverage of up to 1:3000. It's recommended to use leverage wisely and only trade with funds you can afford to lose.

Spread and Commission

For the Advantage account, the spreads start from 0.0 pips, and $3.5 per lot traded on FX is charged. For the Advantage Plus account, the spreads start from 1.5 pips, but no commission. For the Advantage Stocks account, the spreads start from 6 cents, but no commission.

The spreads offered by FXTM are typically lower than those offered by many other brokers in the industry, particularly on the Advantage account. The Advantage Plus account, however, has slightly higher spreads, which is to be expected due to no commissions.

Account TypeSpreadCommission
AdvantageFrom 0.0 pips$3.5 per lot traded on FX
Advantage PlusFrom 1.5 pips
Advantage StocksFrom 6 cents
Spreads
Spreads & commissions

Trading Platform

FXTM offers three chocies of trading platforms, including the popular MetaTrader 4 and 5 platforms, as well as their proprietary mobile trading app.

trading-platform

MT4 vs MT5

FXTM Copy Trading

FXTM Invest is an advanced copy trading feature offered by FXTM, designed to make trading accessible to investors of all experience levels. With a low entry threshold of just $100, this platform allows users to automatically replicate the trades of experienced Strategy Managers. FXTM Invest stands out for its attractive pricing model, offering zero spreads on major FX pairs and a performance-based fee structure where investors only pay when their chosen Strategy Manager generates profits.

The process of getting started with FXTM Invest is streamlined into five simple steps: signing up or logging in to MyFXTM, selecting a Strategy Manager, opening an Invest account, making a deposit, and then watching as the system automatically copies your chosen manager's trades. This user-friendly approach, combined with the ability to maintain full control over your funds, makes FXTM Invest an appealing option for those looking to tap into the forex market with the guidance of seasoned professionals.

FXTM Copy Trading

Deposit and Withdrawal

FXTM offers a variety of deposit and withdrawal options for its clients. Traders can deposit funds into their trading account using Kenyan/local transfers (local Indian payment methods: UPI and Netbanking, local Nigerian instant bank transfers, equity bank transfer, Ghanaian local transfer, Africa local solutions, M-Pesa, FasaPay, TC Pay Wallet), credit cards (Visa, MasterCard, Maestro, Google Pay), e-wallets (GlobePay, Skrill PayRedeem, Perfect Money, Neteller), and bank wire transfer.

FXTM charges a flat $3 transaction fee for any deposit or withdrawal less than $30 or equivalent, but no fees applied to deposits or withdrawals equal to $30 (or equivalent) or more.

Deposit & Withdrawal

Customer Support

FXTM is known for providing excellent customer support to its clients, including live chat, contact form, Telegram, WhatsApp, and phone. The customer support team is available 24/5 and is multilingual, which means clients can communicate with them in their preferred language.

FXTM also provides an extensive Help Center section on their website that covers various topics, such as account opening, deposit and withdrawal methods, trading platforms, and more. This section is helpful for clients who prefer to find answers to their questions without contacting the support team.

Contact info
Help center
Contact info

Educational Resources

FXTM offers various educational resources including glossary, market analysis and guides. Besides, their educational resoucres are friendly both for beginners and professionals. For example, trading basics are suitable for beginners who want to learn some basics, while advanced guides are more suitable for traders who are experienced.

Educational Resources

Trading basics

Advanced guides

Conclusion

To sum up, FXTM is a well-regulated and respected forex broker with a wide range of market instruments, competitive trading conditions, and user-friendly trading platforms. They offer various account types without minimum deposit requirement and high leverage. FXTM's customer support is also responsive and helpful, and their educational resources are very useful for both novice and experienced traders.

FAQs

Is FXTM legit?

Yes, FXTM is regulated by FCA and FSC (Offshore).

What trading instruments are available on FXTM?

FXTM offers a range of trading instruments including forex, metals, commodities, stocks, indices, cryptocurrencies.

What is the minimum deposit required to open an account on FXTM?

$/€/£200.

What trading platforms are available on FXTM?

FXTM offers three chocies of trading platforms including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, as well as mobile trading.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then.

News

NBI PH Rescues 84 Filipinos from Alleged Forex Trading Scam in Pampanga

ExposureNBI PH Rescues 84 Filipinos from Alleged Forex Trading Scam in Pampanga

2024-09-25 01:03

NBI Philippines rescues 84 Filipinos in Pampanga, from a scam hub posing as a BPO allegedly involved in FXTM USDT Forex Trading. Authorities target cybercrime violations in the Philippines.

WikiFX
2024-09-25 01:03
Exposure
NBI PH Rescues 84 Filipinos from Alleged Forex Trading Scam in Pampanga
FXTM launched the first Olympic Trading Competition

NewsFXTM launched the first Olympic Trading Competition

2024-08-21 01:34

FXTM Launches the First Olympic Trading Competition: Battle for the Trading Throne!

WikiFX
2024-08-21 01:34
News
FXTM launched the first Olympic Trading Competition
CySEC Revokes FXTM's CIF License After Voluntary Renunciation

ExposureCySEC Revokes FXTM's CIF License After Voluntary Renunciation

2024-05-26 21:43

CySEC withdraws FXTM's CIF license following the company's voluntary renunciation, marking a significant exit from the EU market for the trading firm.

WikiFX
2024-05-26 21:43
Exposure
CySEC Revokes FXTM's CIF License After Voluntary Renunciation
This Broker is  Providing Services in India against RBI Warning

ExposureThis Broker is Providing Services in India against RBI Warning

2024-01-09 02:07

"FXTM is providing services to clients in India against an RBI warning." a user from India filed a complaint against FXTM dated January 6, 2024 On Wikfx,.

WikiFX
2024-01-09 02:07
Exposure
This Broker is  Providing Services in India against RBI Warning

Review 114

114 Comments
Write a comment
All(114) Latest Positive(59) Neutral(7) Exposure(48)
Exposure
FXTM Terrible Security - $13802 stolen in 8 minutes
MyFXTM ID: 64662843A total of USD13400 was stolen & fee USD402 inactive fee was charged from my FXTM account on 27.06.2024.The withdrawal was processed under very suspicious activity for the reasons below,1. The password was changed on 27 June, 7:54 pm MYT and a withdrawn was processed 3 minutes after without confirmation.2. The withdrawal was requested to a different address and method from previous deposit/withdrawal (TRX as suppose to USDT).3. The hefty inactive fee could have been easily avoided by trading in small volumes (0.01 lots)I have contact FXTM right after the incident, they have just replied refusing to bear responsibility,QUOTEUpon investigation, we have determined that these breaches were not the result of any internal breach within our company. It appears that compromised client credentials, potentially through sharing login details with third parties or insufficient safeguarding of credentials, have contributed to these incidents and unauthorized withdrawals.According to section 32 of the Client Agreement, clients are obligated to notify us immediately if they know or suspect that their Access Data has or may have been disclosed to any third person, clients agree to co-operate with any investigation FXTM may conduct into any misuse of their Access Data.As such, we want to emphasize the following points regarding your account security and our response to this incident:Liability Clarification: The company does not bear responsibility for losses resulting from unauthorized access due to compromised credentials. Clients are solely accountable for the security and confidentiality of their login detailsEND QUOTEFirstly, I would like to point out that FXTM's ticket has been directed to my old email despite having changed my email address - FXTM's security system is far from satisfactory.Furthermore, FXTM claims that the breach was due to my compromised credential without proof that it is not a security breach or inside job from FXTM's side. I have never shared my FXTM/email credentials with anyone nor is it accessible to anyone but myself.In all of FXTM's online review responses, "Always remember that FXTM is on your side" is mentioned. I expect to be fully compensated and that FXTM does not push the blame to the client's side.I will be escalating the issue to the Financial Services Commission - Mauritius.This money is life changing to me, I did not expect such a large brokerage to have such poor security measure and refuse to take responsibility for it. I advise anyone who cares about their funds to not deposit funds under such terrible security measures.
FX3221069426
07-09
Exposure
15,000 USD was stolen from my account, please compensate me for the loss.
On the afternoon of March 5, 2023, I suddenly received 5 text message reminders that the withdrawal was successful. I thought it was a joke, so I went to the toilet with a smile. Thinking that something was wrong, I quickly logged in to the account. All the funds in the account were suddenly transferred to Fu. I opened my USD wallet and was withdrawing money like crazy. I quickly changed my password and I was still withdrawing money during the modification process. Since I didn’t leave the account manager’s phone number at that time, all the previous manual customer pages of FXTO turned into robots, turning me into a robot. I was so anxious that I could only send an email to the official to stop my withdrawal. My total account balance was about 53,000USD. 1,700USD was transferred out to 1,500 USD from the first account, and 46,000USD was transferred out from the second account, which was about 52,000USD. I held a position margin. It was not enough to close the position. I took 15,000USD from the virtual currency channel of the wallet, leaving more than 30,000 USD. The withdrawal was completed very quickly in more than ten minutes. My wallet address was bound and verified, but the 15,000USD withdrew did not arrive in my account. Wallet, I quickly took out the remaining amount through the bound bank card. Futuo is too unsafe. The platform even withdraws funds without personal verification and cannot guarantee the safety of funds. The final reply from customer service said that my email information was leaked to ensure that third parties cannot access my email. The key problem is that Futuo did not make any The verification code will not be sent to the email address, so what is the use of accessing my email address. This led to my debt crisis, with a total loss of over 20,000USD
john775
03-17
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