FXTM

Overview of FXTM

FXTM, also known as ForexTime, is a virtual currency exchange company that was founded in 2011. The company is registered in Cyprus and Belize and is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Commission of Belize (IFSC). FXTM offers a range of cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP).

With a maximum leverage of 1:1000, FXTM provides its users with the ability to trade virtual currencies with greater flexibility. The company offers two trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), providing users with a seamless trading experience.

In terms of deposit and withdrawal methods, FXTM offers various options including bank wire transfer, credit/debit card, and e-wallets such as Neteller and Skrill. This allows users to easily deposit and withdraw funds from their accounts.

Pros and cons

Pros:

• Regulated: FXTM's regulatory compliance across various jurisdictions provides users with a sense of security and trust.

2. Countless Opportunities: FXTM offers a multitude of trading opportunities, particularly in forex and other asset classes.

3. Exceptional Value: FXTM provides exceptional value through typically zero spreads on major FX pairs. This cost-effective approach benefits traders by minimizing transaction costs, contributing to a more favorable trading experience.

4. First-Class Education: FXTM prioritizes user education with a first-class learning environment. The platform offers educational resources, webinars, and other materials, empowering users to make informed decisions and improve their trading skills.

5. Total Fund Security: FXTM ensures total fund security by keeping user funds separate from company assets in top-tier banks globally.

Cons:

• Limited Selection of Cryptocurrencies Available for Trading:

• One drawback of FXTM is the limited selection of cryptocurrencies available for trading. Users seeking a broader range of digital assets may find the platform's cryptocurrency offerings to be somewhat restrictive.



Regulatory Authorities

FXTM is regulated by several regulatory agencies, including the Cyprus Securities and Exchange Commission (CYSEC) and the Financial Conduct Authority (FCA).

According to the information provided, Forextime Ltd, a subsidiary of FXTM, holds an Investment Advisory License (Regulation Number: 185/12) from the Cyprus Securities and Exchange Commission (CYSEC) and is regulated in Cyprus.



Forextime UK Limited, another subsidiary of FXTM, is regulated by the Financial Conduct Authority (FCA) in the United Kingdom. It holds an Investment Advisory License (Regulation Number: 777911) issued by the FCA.



Forextime UK Limited has also obtained a license from the Banque de France (BDF), but it is stated that their regulation status is “Exceeded.” Additionally, Forextime UK Limited is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, holding a Common Financial Service License (Regulation Number: 46614).

It is important to note that the Federal Financial Supervisory Authority (BaFin) has revoked the regulation of Forextime UK Limited, as their license has been revoked (License Type: Common Financial Service License, Regulation Number: 151031).

These regulatory agencies play a crucial role in overseeing and ensuring compliance with established guidelines and regulations to protect the interests of users and maintain the integrity of FXTM's operations.

Security

FXTM (ForexTime) places a strong emphasis on the security of its clients' funds and personal information. As a regulated and reputable broker, FXTM employs several security measures to ensure a safe trading environment for its clients.

1. Regulation: FXTM is regulated by reputable financial authorities, including the Financial Conduct Authority (FCA) in the United Kingdom and the Cyprus Securities and Exchange Commission (CySEC) in Cyprus. These regulatory bodies impose strict guidelines and rules on financial firms to safeguard clients' interests and funds.

2. Segregated Accounts: FXTM maintains client funds in separate bank accounts from its operational funds. This practice, known as segregation of funds, ensures that clients' money remains protected and cannot be used for company expenses or activities.

3. SSL Encryption: FXTM employs industry-standard SSL encryption technology to secure communication between clients and the platform. This encryption ensures that all data transmitted between the trader's device and FXTM's servers remains confidential and protected from potential cyber threats.

4. Two-Factor Authentication (2FA): FXTM offers two-factor authentication as an additional layer of security for client accounts. By enabling 2FA, traders are required to provide a unique verification code sent to their registered mobile device, enhancing the security of account login and transactions.

5. Secure Payment Methods: FXTM supports a variety of secure payment methods for deposits and withdrawals. These methods include reputable credit/debit card processors, bank transfers, and e-wallets known for their safety and reliability.

Overall, FXTM's commitment to regulatory compliance, client fund segregation, advanced encryption, and risk management tools contribute to a secure trading environment, instilling confidence and trust among its clients.

Trading Market

FXTM's comprehensive suite of trading assets spans forex, metals, commodities, stocks, indices, and cryptocurrencies, providing a versatile platform for investors with varied trading preferences.

FOREX (FX): FXTM provides a diverse range of currency pairs for Forex trading, allowing users to engage in the dynamic foreign exchange market. This includes major, minor, and exotic currency pairs, catering to various trading preferences.

METALS AND COMMODITIES: FXTM offers trading opportunities in Spot Metals, such as gold and silver, allowing investors to tap into the precious metals market. Additionally, CFD Commodities provide access to various commodity markets, enabling users to trade on the price movements of commodities like oil and natural gas.

STOCKS AND INDICES: FXTM's platform facilitates Stock Trading and Stock CFDs, allowing users to invest in individual stocks or trade Contracts for Difference (CFDs) on stocks. CFDs on Indices provide exposure to the performance of global stock indices, offering a diversified approach to equities trading.

CRYPTO: FXTM caters to cryptocurrency enthusiasts with Crypto CFDs, enabling users to speculate on the price movements of popular cryptocurrencies like Bitcoin and Ethereum. This provides a gateway to the volatile yet potentially rewarding crypto market within a regulated and secure trading environment.



Cryptocurrencies available

FXTM (ForexTime) offers a diverse selection of cryptocurrencies for trading, allowing traders to access the exciting and dynamic world of digital assets. The available cryptocurrencies on FXTM's platform include some of the most popular and widely recognized names in the cryptocurrency market.

• Bitcoin (BTC): As the pioneering cryptocurrency, Bitcoin needs no introduction. It is the first decentralized digital currency and remains the most well-known and widely adopted in the world. Traders can speculate on the price movements of Bitcoin against fiat currencies like the US Dollar or the Euro.

• Ethereum (ETH): Ethereum is a decentralized platform that enables developers to build and deploy smart contracts and decentralized applications (DApps). Ether (ETH) is the native cryptocurrency of the Ethereum network and is among the top cryptocurrencies by market capitalization.

• Ripple (XRP): Ripple is both a digital payment protocol and a cryptocurrency known for its fast and low-cost transactions. It aims to facilitate cross-border payments and has gained popularity among financial institutions and payment processors.

• Litecoin (LTC): Litecoin is often referred to as the “silver to Bitcoin's gold.” It is a peer-to-peer cryptocurrency that offers faster transaction confirmation times and improved efficiency compared to Bitcoin.

• Bitcoin Cash (BCH): Bitcoin Cash is a fork of Bitcoin that aims to address the scalability issues of its predecessor. It offers larger block sizes, allowing for more transactions to be processed at a faster speed.

• Dash (DASH): Dash is a cryptocurrency that focuses on privacy and fast transactions. It offers features like InstantSend and PrivateSend, providing users with enhanced transaction speed and anonymity.

• Cardano (ADA): Cardano is a blockchain platform that aims to provide a more secure and sustainable infrastructure for the development of decentralized applications and smart contracts. ADA is the native cryptocurrency of the Cardano network.

• Stellar (XLM): Stellar is a blockchain platform designed to facilitate cross-border payments and asset transfers. It aims to connect financial institutions, making it easier and cheaper to move money globally. XLM is the native cryptocurrency used on the Stellar network.

Services

FXTM also offers a variety of other services to help traders succeed, including:

• FXTM Affiliate Program: FXTM offers a generous affiliate program that allows you to earn up to $600 per qualified trader that you refer to the platform. The program is easy to join and there are no upfront costs.

• Analysis: FXTM provides daily market analysis and commentary from experienced analysts to help traders make informed trading decisions.

• Copy trading: FXTM offers a copy trading service that allows traders to copy the trades of experienced traders.



FXTM APP

The FXTM app is a mobile trading app that allows you to trade from anywhere in the world. With the FXTM app, you can:

• Open and close positions

• Monitor your account balance and profit/loss

• Place orders

• Access market news and analysis

• Set up price alerts

• Use technical analysis tools

• Deposit and withdraw funds

To download the FXTM app, simply visit the FXTM website from your mobile device and click on the “Download App” button. The app is available for iOS and Android devices.



How to open an account？

To open an account with FXTM (ForexTime), follow these steps:

• Visit the FXTM Website: Go to the official FXTM website at www.forextime.com.

• Click on “Register”: Look for the “Register” or “Open Account” button on the website and click on it to begin the account registration process.

• Choose Account Type: Select the type of trading account that suits your trading needs and preferences. FXTM offers various account types, such as Standard, Cent, ECN, and more.

• Provide Personal Information: Fill in your personal details, including your full name, email address, phone number, and country of residence. Ensure that you provide accurate information.

• Verify Identity: As part of the regulatory requirements, FXTM may ask you to verify your identity. Prepare your identification documents, such as a passport or driver's license, and follow the verification instructions provided by the broker.

• Set Account Currency: Choose the currency in which you want to open your trading account. FXTM offers multiple account currencies, such as USD, EUR, GBP, and more.

• Fund Your Account: Log in to your newly created account and fund it using the available payment methods supported by FXTM. You can deposit funds via bank transfer, credit/debit cards, e-wallets, and more.

• Start Trading: After funding your account, you can access the FXTM trading platform and start trading a wide range of financial instruments, including forex currency pairs, cryptocurrencies, commodities, and more.



How to Buy Cryptos？

How to Buy Cryptos on the FXTM Website

• Open an FXTM account: Visit the FXTM website and click on the “Open Account” button. Fill out the registration form and provide all required information. Verify your account by following the instructions provided.

• Deposit funds: Once your account is verified, log in and click on the “Deposit” button. Choose your preferred payment method and enter the desired deposit amount. Follow the instructions provided to complete the deposit process.

• Open the trading platform: Access the FXTM trading platform and navigate to the “Crypto” section.

• Select the crypto you want to trade: Choose the cryptocurrency you want to buy from the available options.

• Decide on your position size and direction: Determine whether you want to go long (buy) or short (sell) the cryptocurrency. Specify the amount of cryptocurrency you want to trade.

• Place your trade: Click on the “Buy” or “Sell” button to execute your order. Monitor your trade and make adjustments as needed.

How to Buy Cryptos on the FXTM Mobile App

• Download the FXTM app: Visit the FXTM website from your mobile device and click on the “Download App” button. Install the app on your device and sign in using your FXTM account credentials.

• Deposit funds: Open the FXTM app and tap on the “Deposit” button. Choose your preferred payment method and enter the desired deposit amount. Follow the instructions provided to complete the deposit process.

• Access the trading platform: Navigate to the “Crypto” section within the FXTM app.

• Select the crypto you want to trade: Choose the cryptocurrency you want to buy from the available options.

• Decide on your position size and direction: Determine whether you want to go long (buy) or short (sell) the cryptocurrency. Specify the amount of cryptocurrency you want to trade.

• Place your trade: Tap on the “Buy” or “Sell” button to execute your order. Monitor your trade and make adjustments as needed.

Fees

FXTM trading fees:

• Spreads: The spread is the difference between the ask and the bid price on each trade you make. FXTM offers zero spreads on FX pairs and as low as zero on Gold/Dollar on its Advantage account.

• Commissions: FXTM charges commissions on its Advantage MT4 account. The commission structure is flexible, with lower commissions for accounts with higher equity and trading volume.

• Swaps: Swaps are the interest that you either earn or pay for a trade that's open overnight. FXTM keeps swap fees as low as possible.

Here is a table of FXTM trading fees for different instruments:

Asset Class	Account Type	Spread Range	Commission Structure	Swap Rates
FX Pairs	Advantage	Typically zero	Flexible commission based on trade volume and equity	Varies based on instrument and market conditions
	Advantage MT4	0.1 pips to 1.5 pips	Min. $0.40 per $100,000, Max. $2 per $100,000 notional value
Metals	Advantage MT4	0.3 pips to 10 pips	Flexible commission based on trade volume and equity	Varies based on instrument and market conditions
Commodities (CFD)	Advantage MT4	0.5 pips to 20 pips	Flexible commission based on trade volume and equity	Varies based on instrument and market conditions
Stock CFDs	Advantage MT4	0.1 pips to 5 pips	Commission-free for US stocks and indices (Advantage Plus)	Varies based on instrument and market conditions
Indices (CFD)	Advantage MT4	0.5 pips to 10 pips	Commission-free for US stocks and indices (Advantage Plus)	Varies based on instrument and market conditions
Crypto CFDs	Advantage MT4	1 pip to 500 pips	Flexible commission based on trade volume and equity	Varies based on instrument and market conditions

Deposit & Withdrawal

FXTM offers a diverse range of payment methods to cater to the needs of traders worldwide. These methods include:

• Bank Cards: Bank cards, including Visa and Mastercard, are among the most widely accepted payment methods for FXTM deposits and withdrawals. Deposits made via bank cards are typically processed instantly, while withdrawals may take up to 3 business days to reflect in your account.

• E-Wallets: FXTM supports popular e-wallets like Skrill and Neteller, providing a convenient and secure option for both deposits and withdrawals. E-wallet deposits are generally processed instantly, while withdrawals may take up to 1-3 business days to complete.

• Local Payment Solutions: Recognizing the importance of localized payment options, FXTM offers a variety of local payment solutions tailored to specific regions. These methods may include bank transfers, mobile payments, and other regionally preferred options.

• Bank Wire Transfers: For larger transactions or those requiring greater security, bank wire transfers are a reliable option. However, bank wire transfers may take longer to process, typically ranging from 1 to 5 business days.

The payment processing time for FXTM deposits and withdrawals varies depending on the selected payment method. Bank card deposits are typically processed instantly, allowing traders to access their funds immediately. E-wallet deposits are also processed promptly, generally within a few minutes. Withdrawals, however, may take longer to process, with bank wire transfers typically taking 1 to 5 business days.



Customer Support

FXTM's customer support is accessible through various channels, reflecting a commitment to client satisfaction.

For assistance, individuals can contact them via phone at +44 20 3734 1025 or reach out through the provided email addresses: info@forextime.co.uk and support@fxtm.com.

The company prioritizes communication on popular social media platforms, such as Twitter (https://twitter.com/fxtmglobal) and Facebook (https://www.facebook.com/ForexTime), fostering an interactive online presence.

Additionally, comprehensive information and services are available on their official website https://www.forextime.com/, ensuring clients have easy access to resources and support for their financial endeavors.



Controversies

As with many financial institutions and brokers, FXTM has experienced its share of controversies and complaints. Some traders have raised concerns about withdrawal delays or difficulties, customer service responsiveness, and occasional technical glitches. Additionally, FXTM's regulatory status in certain jurisdictions has been a topic of discussion, as it operates under various regulatory authorities with different levels of oversight. It's essential for traders to thoroughly research and consider such controversies before choosing to trade with FXTM or any broker.User Satisfaction

Conclusion

In conclusion, FXTM, also known as ForexTime, stands out as a reliable virtual currency exchange platform with a solid regulatory framework. Its registration with the CySEC and the IFSC ensures users a sense of security and trust. FXTM offers a diverse range of trading opportunities with attractive features such as high leverage, zero spreads on major FX pairs, and a commitment to user education. While the platform has a limited selection of cryptocurrencies for trading, its regulatory compliance across multiple jurisdictions, emphasis on fund security, and robust security measures, including SSL encryption and two-factor authentication, contribute to a safe and trustworthy trading environment.

Is FXTM a Good Exchange for You？

FXTM is best for beginner and intermediate traders due to its user-friendly platform, comprehensive educational resources, and a variety of account types to suit different trading styles and risk tolerances.

FXTM is a suitable trading platform for a wide range of traders, including beginners, intermediate, and experienced traders. Here's a breakdown of how FXTM caters to each group:

Beginners: FXTM offers a user-friendly trading platform with a variety of account types to suit beginners' needs. The Micro account, with a minimum deposit of just $10, allows beginners to start trading with minimal risk. FXTM also provides a comprehensive range of educational resources, including tutorials, webinars, and articles, to help beginners learn the basics of trading.

Intermediate Traders: As intermediate traders progress in their trading journey, FXTM offers a variety of features to support their growth. The Advantage MT4 account provides competitive spreads and flexible commission structures, catering to more advanced trading strategies. FXTM also offers a variety of trading tools, including charts, indicators, and technical analysis tools, to help intermediate traders make informed trading decisions.

FAQs

• Q: What are the available cryptocurrencies on FXTM？

• A: FXTM offers a variety of cryptocurrencies for trading, including popular options such as Bitcoin, Ethereum, and Ripple.

• Q: What deposit methods can I use on FXTM？

• A: FXTM provides users with multiple deposit options to choose from, including bank wire transfer, credit/debit card, and e-wallets like Neteller and Skrill.

• Q: Are there educational resources available on FXTM？

• A: Yes, FXTM offers a range of educational resources and tools, including trading guides, video tutorials, and webinars. These resources aim to support users in enhancing their trading skills and knowledge.

• Q: What platforms does FXTM support for trading cryptocurrencies？

• A: FXTM provides users with access to trading platforms such as MetaTrader 4 and MetaTrader 5. These platforms offer a range of features and tools for virtual currency trading.

User Review

User 1:

FXTM's crypto exchange won me over with its solid security measures. Two-factor authentication and encrypted transactions ease my mind about potential threats. The platform's intuitive interface makes trading a breeze, especially for a crypto newbie like me. Customer support responds promptly, clearing up my queries. However, trading fees are a bit steep, affecting my overall gains. Despite this, the variety of available cryptocurrencies is impressive, providing ample choices for investment. Deposit and withdrawal speed are decent, ensuring quick access to funds. Overall, a reliable choice with a few quirks.

User 2:

FXTM's crypto exchange earned my trust due to its robust regulation. Knowing they comply with industry standards gives me confidence in the platform. The user interface is clean and user-friendly, allowing for easy navigation. Liquidity is high, ensuring my trades execute smoothly, and a diverse range of cryptocurrencies keeps my portfolio dynamic. While customer support is generally responsive, occasional delays can be frustrating. Trading fees are reasonable, but more transparency on fee structures would be appreciated. Privacy and data protection measures are reassuring, creating a secure environment. Overall, a dependable platform with room for improvement.

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 contained in this article is for general information purposes only.