FXTM
Broker Type : Market MakerFoundation Year : 2011
Min Deposit $ 5
FXTM Review: A Comprehensive Overview of the Forex Broker
FXTM, also known as ForexTime, is a popular forex broker that has been in operation since 2011. The company is regulated by several financial authorities, including the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC). In this review, we will take an in-depth look at FXTM, its services, and whether it can be considered a scam or a reliable broker.
Regulation and Safety of Funds
FXTM is a well-regulated forex broker that is compliant with the strict rules and regulations set by the FCA and CySEC. The company is also a member of the Investor Compensation Fund (ICF), which offers additional protection to clients’ funds in case of broker default. Additionally, FXTM follows the best practices in terms of security, using SSL encryption technology to protect clients’ personal and financial information.
Trading Platforms and Tools
FXTM offers a variety of trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. The broker also has its proprietary trading platform, FXTM Trading Terminal, which is designed to meet the needs of both novice and professional traders. The platforms are available as desktop, web-based, and mobile versions, offering traders flexibility and convenience.
In terms of trading tools, FXTM offers a range of tools and resources to help traders make informed decisions. These include economic calendars, market analysis, trading signals, and educational resources such as webinars and ebooks.
Trading Conditions and Spreads
FXTM offers a wide range of assets for trading, including forex, commodities, indices, stocks, and cryptocurrencies. The broker offers competitive spreads and leverage, with leverage reaching up to 1:30 for retail traders and up to 1:500 for professional traders.
FXTM operates on a market maker model, meaning that it acts as the counterparty to client trades. While this model can lead to potential conflicts of interest, FXTM has a strong reputation for fair and transparent trading practices.
Deposit and Withdrawal Options
FXTM offers a variety of deposit and withdrawal options, including bank transfers, credit/debit cards, e-wallets, and online payment systems. Deposits are processed quickly and securely, with most methods offering instant deposits. Withdrawals are also processed efficiently, with the processing time depending on the method chosen.
Customer Support
FXTM has a dedicated customer support team that is available 24/7 to assist clients with any queries or concerns. The broker offers multiple channels for support, including live chat, email, and telephone support in several languages.
Final Thoughts
In conclusion, FXTM is a well-regulated forex broker that offers a comprehensive range of trading services and tools. The broker has a strong reputation for providing fair and transparent trading conditions, as well as efficient and secure deposit and withdrawal options. With 24/7 customer support, FXTM provides a reliable and convenient trading experience for traders of all levels. Based on our review, we can say that FXTM is not a scam, but a trustworthy and reliable forex broker.
