Regulated

Score

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/10

FXTM

United Kingdom

|

5-10 years

Investment Advisory License|

Common Financial Service License|

Germany Common Financial Service License Revoked|

South Africa Common Financial Service License Revoked|

Cyprus Investment Advisory License Unsubscribed|

Suspicious Overrun|

High potential risk

https://www.forextime.com/

Website

Rating Index
Influence

Influence

AA

Influence Index NO.1

India 7.78

Better than 99.63% exchange(s)

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Influence
AA

Licenses

FCA

FCARegulated

Investment Advisory License

BDF

BDFExceeded

Common Financial Service License

CYSEC

CYSECUnsubscribed

Investment Advisory License

BaFin

BaFinRevoked

Common Financial Service License

FSCA

FSCARevoked

Common Financial Service License

Exchange Info

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Company Name
FXTM
Phone of the company
+44 20 3734 1025
Customer Service Email Address
info@forextime.co.uk
support@fxtm.com

WikiBit Risk Alerts

7
Previous Detection 2024-06-23

The number of this Exchange's nagitive field survey reviews has reached 1, please be aware of the risk and the potential scam!

CyprusCYSEC (license number: 185/12) The regulatory status is abnormal, the official regulatory status is Unsubscribed, please be aware of the risk!

GermanyBaFin (license number: 151031) The regulatory status is abnormal, the official regulatory status is Revoked, please be aware of the risk!

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Time Machine

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User Reviews

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14 ratings

Participate in evaluation
Dexter 4856
very good for biggineers.......and easy to access...
2023-11-03 06:28
2
Precious Andy
This platform is really easy to understand I recommend this to beginners is easy to access
2023-11-25 14:41
7
Dexter 4856
FXTM is a good exchange, the interface is easy to access and navigate..
2023-11-26 01:10
3
Dan3450
FXTM generally provides customer support through various channels.
2023-11-30 00:27
2
favour 687
It is very good for beginners and one of the best for trading Bitcoin
2023-11-24 21:56
1
FX1036488142
I have been using the FXTO trading platform and the interface is quite intuitive. Currency liquidity is okay, but transaction fees are a bit high. The community also needs to strengthen communication and intervention.
2023-10-01 08:36
1
FX1454862799
富拓 offers a user-friendly interface with highly competitive cryptocurrency exchange rates. Great!
2024-03-31 08:58
4
Nguyễn Đình Luân
The interface on 富拓 is truly intuitive and easy to use, suitable for both new crypto players. Another significant advantage is the prompt and attentive customer support, always ready to answer any questions.
2024-02-25 11:13
7
Teemi
to me the full meaning of FXTM is Future xperience Transmission Money coz the token is too much
2023-11-27 14:07
3
snazii
The platform offers cryptocurrency CFDs, allowing users to speculate on the price movements of cryptocurrencies without owning the underlying assets which is really nice.
2023-11-25 04:08
6
Bleky
FXTM is an excellent platform for trading,it allow users to speculate on the price movement of crypto currencies without owning the underlining asset.
2023-12-03 19:43
2
Beedee
FXTM is easy to understand and navigate, it as high volume and liquidity
2023-11-25 23:45
2
Døñ Dërêk
FXTM renders high quality service which has made them one of the best trading platform there is it is more reliable and faster in exchange of crypto currencies which enhance accurate exchange rate
2023-11-25 00:32
6
Døñ Dërêk
I will call it the best trading platform there is it has legit trading exchange rate and is most recommended for beginners FXTM has maximum level of profitability with low rate of fraudulent act
2023-11-22 15:22
7
Aspect Information
Company Name FXTM
Registered Country/Area Cyprus and Belize
Founded Year 2011
Regulatory Authority Cyprus Securities and Exchange Commission (CySEC), Financial Services Commission of Belize (IFSC)
Cryptocurrencies Offered/Available Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP)
Trading Fees Spreads: Starting from 0 pips, Commissions: Flexible structure on the Advantage MT4 account.
Deposit & Withdrawal Bank Cards (Visa, Mastercard), E-Wallets (Skrill, Neteller), Local Payment Solutions, Bank Wire Transfers
Customer Support phone at +44 20 3734 1025; email addresses: info@forextime.co.uk and support@fxtm.com.

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.

Overview of FXTM

Pros and cons

Pros Cons
Regulated Limited selection of cryptocurrencies available for trading
Countless opportunities
Exceptional value
First-class education
Total fund security

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.

      • Pros and cons

        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.

        Regulatory Authorities

        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.

        Regulatory Authorities

        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.

        Trading Market

        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.

        Services

        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.

        FXTM APP

        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 open an account?

          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.

              Deposit & Withdrawal

              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.

              Customer Support

              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.