ForexTime review

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Introduction of the broker ForexTime

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.

If you don't want to search for additional brokers, you can try brokers like eToro or XTB. These brokers are supervised by the and regulated in the EU. They offer stocks, fractional shares, ETFs, as well as CFDs on commodities, indices, and other instruments. Both brokers also have a low minimum deposit and an unlimited demo account available with a virtual deposit of up to 100,000 USD.

Based on the results of our research, we recommend traders to avoid ForexTime due to non-compliance with regulations and numerous negative client reviews, as well as the loss of CySEC license for European clients. Despite their efforts to remain online, we recommend refraining from engaging in trading activities with ForexTime and its affiliated companies.

Comparison of broker ForexTime with competitors

Basic information
Regulations
Number of CFD asset classes	6
Broker type	ECN, STP
Customer support
Deposit from	200 EUR/USD
Spreads	1.5 EUR/USD *The value is indicative from the broker's website. The spread amount is variable.
Real Stocks and ETFs
Platforms
Instruments CFD	Commodities, Share CFDs, Forex, ETF, Cryptocurrency traded as CFD, Indicies
Established	2011
Location	FXTM Tower, 35 Lamprou Konstantara,Kato Polemidia, 4156, Limassol, Cyprus
Phone	+357 25 558 777
E-mail	info@forextime.com
Country	Cyprus
Last update:	2.07.2024

Pros

Strong educational materials: FXTM provides a wide range of educational materials that can help traders improve their skills and understanding of the markets.
Flexible account types: The platform offers various account types, allowing traders to choose the right option according to their needs and preferences.
Dedicated account representative: FXTM provides each client with a dedicated account representative who can assist with any questions or issues.

Cons

Withdrawal fees: FXTM charges withdrawal fees, which can be disadvantageous for clients who frequently withdraw funds from their account.

No copy trading features: The platform does not offer copy trading features, which may be a drawback for those who prefer this investment strategy.

No cryptocurrencies and limited choice of commodities: FXTM does not offer cryptocurrency trading and has a limited selection of commodities, which may be a disadvantage for those looking to diversify their trading portfolio.

Lack of regulation: One of the disadvantages is the absence of regulation, which can undermine clients' trust and increase the risk of unethical behavior by the broker.

Licences and regulation

Broker ForexTime is seen as dependable due to its multiple top-tier regulatory certifications, which include

Exinity UK Limited - FCA (UK) registration no. 777911
ForexTime Ltd - CySEC (Cyprus) registration no. 185/12
ForexTime Ltd - FSCA (South Africa) registration no. 46614
Exinity Capital East Africa Ltd - CMA (Kenya) registration no. 135
Exinity Limited - FSC (Mauritius) registration no. C113012295

Martin Krpenský

Regulation • Fraud Prevention • Market Analysis

I specialize in security within the brokerage sector, with a focus on quickly identifying fraudulent brokers and protecting users from their practices. Thanks to my experience in the brokerage environment and detailed knowledge of regulatory rules, I not only uncover risks but also provide market analyses that help users better navigate financial opportunities and threats.

ForexTime review

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