ForexTime Limited, or commonly known as FXTM, is a Foreign Exchange and CFD brokerage firm established in 2011. With over a decade of experience in the industry, this financial solutions provider had extended its scope as it now operates with three headquarters located in the United Kingdom, Cyprus, and Mauritius. Currently, FXTM houses one of the largest cross-asset selection including exotics, precious metals, and natural gas. In addition to this, clients are provided with equities, indices, cryptocurrencies, and CFDs for portfolio upgrade.
Regulation and Security
Subscription to FXTM guarantees an extremely secured trading experience since the company is licensed and regulated by multiple financial authorities. Its office based in Cyprus is filed under the Cyprus Securities Exchange Commission (CySEC) and Financial Sector Conduct Authority
(FSCA) of South Africa. Meanwhile, its subsidiary in Mauritius operated by Exinity Limited is registered under the country’s Financial Services Commission, and lastly, its office in the United Kingdom is well-inspected by the Financial Conduct Authority (FCA).
To mention, filing for licenses requires strict compliance to several financial guidelines implemented by authorities, and for FXTM to receive multiple license only cements the fact that its services are reliable and legitimate. In addition to this, its multi-jurisdictional structure enables the company to diversify its offers according to its traders’ location. With this, global clients are provided with larger selection of assets.
FXTM Account Selection
FXTM’s account selection is remarkable as it offers six types. The first three are standard accounts in which execution costs rely on variable spreads and minimum amount. As for the ECN versions, variable spreads do not entail commissions. These two major divisions both have their pros and cons and each may come beneficial depending on trader’s trading structure.
Standard Account- Clients may still open this account even without the SWAP option. IT has a fixed leverage for every instrument, rapid execution, hedging, and floating spreads. In terms of commissions, rates are comprehensively displayed, and it may be opened using the euro, sterling, and U.S. dollar.
Cent Account- Similar to the Standard Account, this also comes with a fixed leverage system and a relatively fast execution speed. The leverage, on the other hand, is larger and it has single cent lots. The list of available currencies include UK pennies, USD and euro cents.
CFD Account- This account that works best for Contract for Difference traders does not entail any commission fee. It offers CFDs in over 170 shares, all tradable at a faster pace. Clients may also use hedging. With three currencies available, a fixed leverage of 1:5, and a SWAP-free mechanism, clients are guaranteed larger margin of profitability.
ECN Zero Account- While this account’s features bear similarities with the aforementioned accounts, it is purely automated since it is an electronic communications network type of account. Scalping, together with hedging, is available. More so, this SWAP-free ECN account does not allow re-quotations.
ECN Account- This account’s spreads start at 0:11, and the euro, pound, and dollar are all available as means for deposit. Just like the entry-level ECN account, it is equipped with hedging and scalping, In addition to this, it also does not allow re-quotations.
Pro Account- The Pro account offers premium conditions including commission-free trading, the fastest execution without re-quotes, and a SWAP-free system. More so, clients are provided with high level of liquidity since it is wired with the world’s largest providers. Other features that clients may enjoy are its zero last-look pricing and fixed leverage.
Research and Education
One of the most impressive aspects that FXTM takes pride in is its research and education section. While other brokerage firms also offer the same number of guides, FXTM has quality contents at its disposal. Its education section is well-divided into different subsections including e-books, seminars, webinars, glossary, and trade-related articles- all authoritative to equip traders technical know-hows and other fundamental knowledge necessary for trading.
Conclusion
Taking all the aforementioned features, it can be concluded that the site heavily prioritizes its clients. Its client-oriented approach can be gleaned in its regulatory licenses, serving as attestations to its quality and legitimate financial services. More so, its highly responsive customer support and laudable education section just add to reasons why FXTM deserves the investment it gets from its global clients.