ForexTime review

About the broker

ForexTime, also known by the acronym FXTM, is a respected broker in the forex market with several distinguishing features. This broker operates as an ECN/STP type and is operated by ForexTime Limited. It was founded in 2012 and is based in Cyprus, where it is also registered and licensed by CySEC.

One of the distinct benefits of ForexTime is the low minimum deposit, which is only $10 for a basic account. This gives wide accessibility even to novice traders. In addition, it offers different account types with the option of trading micro lots (starting from 0.01 lots) or even a cent account with a minimum trade volume of 0.0001 lots.

Modern Trading Platforms and Payment Gateways

For novice traders, a free demo account is available to allow training without the risk of real funds. ForexTime also provides education, including PAMM, trading strategies and other study options. With an extensive selection of assets including currency pairs, it offers many options for everyone. The MT 4 platform, MT4 WebTrader and mobile apps, including MT5, are available for trading on a variety of devices.

In terms of payment gateways, ForexTime accepts credit cards, Skrill, NETELLER, WebMoney, bank transfer and other methods. Mobile apps are available for trading on the go. ForexTime allows hedging, scalping and automated trading (AOS) on some account types. Financial leverage can reach up to 1: 0, and spreads start from 1.5 pips (even from 0 pips for ENC accounts). ForexTime does not provide any bonuses.

Support for Different Currencies and Fees

The broker supports account maintenance in several major currencies, including USD, EUR and GBP and more. It should be kept in mind that withdrawal fees, spreads or commissions may be charged, depending on the type of account.