ForexTime is a broker for forex that caters to a variety of levels of expertise that was established in 2011 , by Andrey Dashin.
ForexTime (FXTM) provides a solid trading platform that is built upon MetaTrader 4 and 5 and provides a variety of trading instruments such as Forex CFDs, CFDs for Indices and Commodities, Spot Metals and Shares CFDs.
ForexTime is highly regarded in the marketplace with its attractive spreads. It is licensed within the UK by the FCA and in Cyprus via CySec.
While ForexTime is among the newest brokers, it’s seen rapid growth rate and has won many awards over the course of its existence. Find out more about it in our honest assessment on this ForexTime broker.
Licenses & Regulations
- ForexTime Limited (www.forextime.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12
- approved to operate by The Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614.
- The company is licensed with the Financial Conduct Authority of the UK with the number 600475.
- Exinity Limited (www.forextime.com) is controlled through the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295.
- Forextime UK Limited (www.forextime.com/uk) is authorised and regulated by the Financial Conduct Authority, firm reference number 777911.
ForexTime Trading Instruments
With FXTM traders can use FXTM to trade an extensive variety of instruments.
- Over 50 currencies.
- People who want diversifying their portfolios can trade CFDs, spot-metals, CFDs on shares, as well as CFDs that are traded on Commodity Futures.
- In addition, they can make trades CFDs for Indices and ETFs
- It includes over 180 US shares.
- You can trade as many as 60 exotic currency pairs five spot metals, CFDs for 14 spot prices, and three CFDs that trade on commodities
Many traders are impressed by the ability to participate on both the stock market as well as trading in stocks CFD trading using ForexTime.
Trading stocks using FXTM is a great method for diversifying your investment portfolio while introducing risk. It can also help you avoid having to contend with the limitations on time that come with stocks CFDs.
To trade stocks using FXTM it is necessary to have the FXTM Professional MT5 account. It will provide spreads starting at 0 pips and the most efficient execution and the option of macro, mini or normal lots.
ForexTime is proud to offer outstanding trading terms. The execution speed is quick and the possibility of mini and micro lots.
The minimum amount for deposits is low and the platform makes use of No Dealing Desk (NDD) technology. FXTM also offers extensive interbank liquidity and offers Expert Advisors and Logarithmic trading.
Leverage that is floating can reach up to 1:1,000. Spreads could be as tight as 0.1 pip, based on market conditions and the type of account.
The leverage of as high as 1:1,000 is a part of the FXTM floating leverage system. Due to the leverage that is high traders can maximize their profits by trading more volume. However, it does carry a greater risk.
The tight spreads of ForexTime helps ensure that traders are able to take advantage of lower initial costs for trading.
FXTM is also able to provide rapid execution because transactions are completed immediately. This means you don’t have to be concerned about delays that could hinder your ability to obtain the best price.
The NDD technology is what permits ForexTime cooperate with different liquidity suppliers. The result is that clients get the most competitive prices for both bids and offers. This technology offers high interbank liquidity. It also has the capability to offer earlier mentioned instant transactions.
To see the complete specification of the contract for each instruments of trading visit the Trading Instruments part on the ForexTime website. After that, go to Contract Specifications.
You can access specific information on spot metals, forex, CFD US shares, spot commodities stock trading indexes, spot spot. You can find information like minimum or standard spreads as well as swaps, pip values trade sessions, and swaps.
ForexTime Margin & Leverage
You can look up every one of the leverage and margin conditions for ForexTime trades by visiting the appropriate page of the website of the broker. All information is available located under the main section of trading Accounts.
The margin requirements and the leverage requirements are provided in the table below for Standard, ECN, and ECN Zero Trading Accounts. Review the requirements in the FX majors categories FX majors, FX minors exotics, spot-metals, BTCUSD and ETHUSD, LTCUSD and RPLUSD.
For each one of them you will find the actual value of USD, EUR, GBP or NGN and also the leverage provided and the floating margin as a percentage.
The same information is available below, along with the data on FXTM Pro Trading accounts. For FXTM ProMT5 trading accounts as well.
The commissions paid by FXTM differ based on the the type of account. There is no commission for Standard Accounts, Cent Accounts and shares Accounts, ECN Zero Accounts as well as FXTM Professional Accounts. ECN accounts have Commissions that are $2 for each lot.
For certain accounts where there are floating commissions. For ECN MT4 For instance the commission is contingent on the amount of trades and equity and lower commissions correspond to higher volumes of trading and equity.
The specific floating commission rates on Trading Accounts on the Commissions page. There are also commissions for trading in stocks via PROMT5 here.
ForexTime Deposits and Withdrawals
ForexTime offers a wide variety of withdrawal and deposit methods to reach out to a large spectrum of customers. Deposit methods include FasaPay, Ghana local transfers, Nigeria local bank transfers, Algerian local transfers, Kenyan local transfers, Indonesian local transfers.
Additionally, local transfer in Pakistan and India online banking Indonesia online banks Malaysia, Local Exchange House, Afghani local transfers.
Furthermore, Laos local transfers, Nganluong (e-wallet and banking channel), Baokim, GlobePay, Egypt local transfer, Iraqi local transfer, Bangladeshi local transfer.
In the end, Palestinian local transfer, online banking Thailand Online banks Vietnam, China Online Banking along with Tanzanian Local Transfers (BRK).
Customers may also make deposits using Visa, Mastercard, or Maestro cards. VIPs can also deposit funds via Neteller and Skrill/Moneybookers.
Customers can also make deposits through crypto currencies, Dusupay, Alfa-Click, Dixipay, WebMoney, Yandex.Money, QIWI, Perfectmoney, Bitcoin through Skrill, Bitcoin, or Konnexone. In addition, there is the option of making a bank wire transfer.
None of the deposit methods have commissions. Processing times can range from instantaneous to 24 hours/up up to a business day for all methods. However, there is a notable exception: the bank wire that takes up to 5 business days.
The methods to withdraw are almost identical but there are a few variations. It is possible to withdraw for instance through China Union Pay and cannot withdraw through Alfa-Click or cash U. The average processing time for withdrawals is 24 hours, with the exception for China Online Banking which takes 48 hours.
Other options include Konnexone which can take available until one business day and cryptocurrency, Bitcoin, or Bitcoin through Skrill which can take between 24 and 48 hours. There are commissions on certain withdrawal methods too. It could be an unintentional set-fee or a small percent of the amount. A lot of withdrawal methods are not commission-free.
Minimum & Maximum Deposits
The minimum and maximum deposit limits for ForexTime are contingent on the kind of account you select.
- Standard accounts, Shares Accounts ECN Accounts as well as ECN Zero Accounts require the minimum deposit of $/EUR/PS100 or N20,000. They don’t have a maximum limit on deposits.
- Cent Accounts require minimum deposits of either N1,000 or $/EUR/PS 10 and there is no maximum amount to deposit.
- FXTM Pro accounts have a minimum deposit of $/EUR/PS 25,000 , and there is no limit on deposits.
ForexTime Types of Accounts
ForexTime provides a truly comprehensive account that is suitable for anyone.
Standard Accounts comprise the Standard Account, CENT Account (with micro lots) the Shares account.
ECN Accounts comprise those with the ECN MT4 Account and ECN MT4 Account, the ECN MT5 Account and the ECN ZERO Account.
Additionally are you can also use the ECN Manager Account, FXTM Pro, FXTM Pro MT5 as well as ECN ZeroMT5.
- Standard accounts are compatible together with MetaTrader 4. They feature high floating spreads with floating leverage of 1:1,000 and instant execution Hedging, the option of a SWAP-free account and no hidden fees. These accounts can be made in USD, EUR, GBP or NGN.
- Cent Accounts come with immediate execution and tight floating spreads and a SWAP-free choice. They can be used with the MT4. They are accessible in EUR cents and GB pence, USD cents or NGN Kobo. They have Cent Lots and have a minimum deposit of 5 EUR/USD/GBP.
- Shares accounts are also MT4-based and offer a SWAP-free option and immediate execution. The ability to hedge is available with no fees. Leverage is set at 1:10, and this account is able to access greater than 180 US shares. The account can be accessed for purchase in USD, EUR, GBP or NGN.
Other Trading Accounts
ECN Zero Accounts utilize MT4 or the MT5 platform and are able to be complemented by FXTM Invest. ECN Zero Accounts come with low floating spreads that are tight, with no commissions, market executions without requotes, and a floating leverage up to 1:1,000.
There’s also a no-swap option and a choice of USD, GBP or EUR. You can also choose NGN. Hedging and scalping are permitted.
A ECN Account also uses either the MT4 or the MT5 platform, with market execution, no requotes, and a floating leverage up to 1:1,000.
It offers spreads starting at 0.1 and a non-swap option, and similar options for currency. Hedging and scaling are both permitted and commissions start at only $4. This kind of account is also offered through FXTM Invest.
In addition, an FXTM Professional Account allows you to trade either MT4 or MT5. It features high-quality spreads starting at zero pips, commissions free and a floating leverage up to 1:100, and super-fast execution of markets without Requotes.
There’s no last-look price and this account is able to take advantage of the liquidity that is deep right from ForexTime’s Tier-1 providers.
Whatever the type of accountyou have, NGN accounts are only available to clients who reside from Nigeria.
FXTM Investment ( Copies of Trading )
FXTM Invest is a relatively new service by ForexTime which allows customers to turn into FXTM Invest Strategy Managers.
It’s a copy trading program that relies on the most cutting-edge technology. This allows you to use your skills in forex to earn extra capital. Through this program, other investors are able to replicate your trading strategies. This way, you’ll receive a portion of their profits, up to as at least 50.
To become a Strategist Manager, you sign up to open an ECN Zero Account and then verify your account. You then get an individual Manager page that you can use to display your trading stats and begin posting your trading results on social media.
FXTM Invest lets people who just starting trading replicate the trading strategies of traders who have a track performance record. It also helps those who don’t have time to create complex trading strategies.
While at the same time it allows successful traders to profit from their success , by making it possible for others to replicate their trades.