ForexTime (FXTM) Review – What to expect from the broker

ForexTime (or FXTM for short) is a CFD Broker founded in 2011 that features on its trading platform CFDs on Forex, Spot metals, spot commodities, indices and shares. ForexTime is a subsidiary company of Forextime Ltd, a corporation that is regulated and overseen in Cyprus by the CySEC. Spreads that the broker charges are average in the industry; for EUR/USD they are 2.0 pips*, real trading is possible with the minimum deposit of $/€/£ 100. The ForexTime website is available in 17 languages including English, German or Italian.

What do we cover in our ForexTime Review?


General Risk Warning: 74–89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Basic information about the broker

  • Website address: www.forextime.com/eu; www.forextimechina.com/eu/zh; www.forextime.com/uk; www.forextimekr.com/eu
  • Leverage: up to 1:30
  • Instruments: CFDs – Forex (59), Spot metals (5), spot commodities, indices, shares (180+)
  • Minimum deposit: $100 (accounts held in USD / EUR / GBP)
  • Demo account: Yes, free of charge
  • Methods of deposit and withdrawal: Credit and debit cards (Visa, Mastercard, Maestro), Neteller, Skrill, Yandex.Money, QIWI, bank transfer

ForexTime Trading Platform

FXTM provides to its traders access to all available trading instruments through two popular trading platforms – MT4 and MT5. These two platforms are well known in the world of trading and are not used only for executing trades but also for analyzing financial markets and automated trading. MT4 as well as MT5 can be both downloaded to any computer or can be accessed via just a web browser or a mobile application.

ForexTime Spreads

As any other CFD broker, ForexTime charges a spread fee. For the most current spread charges, please visit the ForexTime.com website. Here is a spread comparison table that contrasts ForexTime spreads with popular industry competitors.


Asset EUR/USD USD/JPY GBP/USD AUD/USD
ForexTime* 2.0 2.0 2.9 2.1
Plus500** 0.6 0.7 1.1 0.6
IQOption** 1.2 0.9 1.5 1.6

*Spreads recorded on 21..06.2019 at 19:53 GMT, spread charges were taken from the homepage of the broker. **Spreads recorded on 26.09.2019 at 11:26 GMT from the trading platform of the broker.

FXTM Pros
  • International support
  • Solid educational centre (News, online webinars)
  • Modern website
FXTM Cons
  • Average fees
  • No CFDs on Bitcoin or other cryptos

To sum up the ForexTime Review

FXTM (Forextime Limited) is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 185/12 and by the FSCA in South Africa. From my perspective, the main advantage of the broker is their international support. Another great feature of the company is its educational centre which is quite sophisticated and one can watch trading tutorials or webinars. The biggest drawbacks are fees that the company charges and that they do not offer CFDs on a single cryptocurrency.

Your review can make a difference to other traders, please leave a comment if you have any personal experience with ForexTime.



Michael
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