Forextime Broker Review


Minimum Deposit
$5
Regulators
CySEC, IFSC
EURUSD Spread
ECN 0.1, Standard 0.7
US Traders
No
Platforms
MT4 & MT5 for PC, Mac, iPhone/ iPad, Android. FXTM WebTrader (MT4)
Founded
2011

FXTM does not provide services to residents of the USA, Japan, British Columbia, Quebec and Saskatchewan.

FXTM Corporate History

Andrey Dashin, the entrepreneur that created the highly successful Alpari forex brokerage firm back in 1998, has a new success on his hands. This time the firm is ForexTime.com (FXTM), a company that focuses its efforts to please customers that do not reside in the U.S. or the European Economic Area. Founded in 2012 and headquartered in Limassol, Cyprus, FXTM has already in a brief period garnered many prestigious awards for its growth and attention to quality in the forex broker industry. ForexTime’s website and service offerings are impressive. The management team has definitely found the right solution for its potential market customers.

As a testament to its high growth and stability, the firm recently moved into a private new five-story building, the FXTM Tower. The company prides itself on maintaining a high profile of integrity and transparency, and, if independent review ratings on the web are to be taken at face value, this firm receives high marks across the board. FXTM operates out of Cyprus, a member of the Eurozone, but it has recently obtained a regulatory license from the International Financial Services Commission (IFSC) of Belize, a non-EU regulatory body, for the entities operating vehicle, FT Global Ltd. With global footprints both within and without Europe, potential customers can now easily access a broad array of product offerings without delay and be assured that regulatory compliance, security, and professionalism are present at all times.

ForexTime’s product and service offering is compelling in its overall depth and breadth, spanning both dealing desk and ECN/STP protocols. To date, sixty-five currency pairs may be traded on MT4 and MT5 platforms, whether with traditional downloaded software or by direct online service modules. The website sports ten languages, a rarity in today’s global marketplace. Forex is only one facet of the offering. CFD’s in commodities, stocks, ETFs, and spot metals may also be traded. There are also continual promotions and contests to keep things interesting, and social trading and a support team of specialists can also add to the fun. Educational materials, another huge plus, are substantial in scope and abundance. In the end, like Alpari, ForexTime is top of the line in every way, including excellent customer service, stellar execution, and unrivalled reliability. The FXTM management team is obviously driven to excel, and it shows.

Broker Features

Why trade with Forextime.com? The firm lists these reasons:
· Founded in 2012 by Andrey Dashin, the executive responsible for the highly successful Alpari suite of companies;
· Highly experienced management team committed to quality service;
· Regulated by CYSEC under license number 185/12 and registered with the UK FCA under reference number 600475;
· MT4 and MT5 technology provide the backbone for seven trading platforms;
· Mobile trading supported;
· All accounts come with a free Demo system;
· 65 forex pairs to choose from, along with opportunities in CFDs, Futures, ETFs, Precious Metals and Commodities;
· Customer service can be accessed “24X7” through email, live chat, Skype, or direct telephone;
· Frequent promotions and contests;
· Learning center includes streaming news feeds, commentary, webinars, and free training courses;
· Social trading features, charting tools, email and mobile alerts, and streaming news feeds are also part of the package;
· Client funds segregated in Tier-One banks for protection, as per regulatory compliance requirements.

Trader Accounts

· Minimum deposit = $5;
· Three standard account classifications and four ECN accounts, including an Islamic account;

Transactions

Dealing Transactions:
· Tight trading spreads, fast execution, hedging and scalping allowed, and deep bank liquidity;
· Dealing desk with standard accounts (3), and full ECN/STP trading model for remaining four accounts – fixed and variable pricing options may apply, depending on your account choice;
· Leverage offered up to 1,000:1;

Deposits

· Deposits and withdrawals are easy at ForexTime.
· Eighteen methods exist, with new payment types being added monthly;
· Methods include standard credit, debit, and bank wire capabilities, but the firm also supports a number of e-wallet and local payment options, including not only Neteller and Skrill (Moneybookers), but also many other payment alternatives that may be familiar in your market of origin.

Withdrawals

· As a cautionary note, make sure that internationally mandated ID information is on file before any withdrawal request is submitted to ensure that it will be approved and processed quickly.

Trading Platforms

FXTM offers seven trading platform options. The three standard accounts and the four ECN accounts employ MT4 and MT5 service offerings, the most popular trading platforms in the industry. There is also an Islamic version, if you prefer. Free demo accounts are standard, and mobile trading is supported, such that, if your device can access the Internet, then you can trade with FXTM. ECN/STP platforms allow for tight spreads and no slippage for the professional trader. All trading activity and personal information are encrypted for security and safety, using the latest in SSL technology.

Information

Educational and support materials have been designed for all levels of trader, with fresh new webinars being added daily. Daily commentary, streaming news, and alerts also enhance your strategy formulation and ability to react to quick market changes.

Customer Support

FXTM is especially known for their incomparable customer service. Account managers are bilingual and can be reached “24X7” via live chat, email, Skype, or by direct phone line to one of their many satellite offices.

Safety

Client funds are segregated from operating capital and stored in Tier-One banks for your individual protection. All trading activity and personal information are encrypted for security and safety, using the latest in SSL technology.

Conclusion

ForexTime is already a success story after only two years of operation. Prestigious awards and an innovative service platform testify to this fact. As their website attests, “We’ve always placed great emphasis on honesty, integrity and transparency in everything we do. Whether it is in the trading terms, tools or products we offer, our main priority is to provide our clients with a secure environment to trade in.” If you want the best forex broker available in your market, FXTM would definitely be one of the brokers you would want to give high marks.