The biggest and fastest growing brokers usually will have an office in Cyprus and ForexTime are no exception. They first took off back in 2011, and have quickly become one of the leaders in Forex trading.
FXTM now has an office in London, the United Kingdom serving their clients in the U.K and Europe.
Regulated by some of the well-known entities like;
1: CySec (Cypress Securities and Exchange Commission of Cyprus)
2: FSB (Financial Service Board of South Africa)
3: FCA (Financial Conduct Authority of the U.K)
4: BaFin (Bundesanstelt fur Finanzdienstleistungsaufsicht of Germany)
5: CONSB (Commissione Nazionale per le Società e la Borsa, of Italy)
6: AMF (Autorite des Marches Financier of France)
7: CNMV (Comisión Nacional del Mercado de Valores, of Spain)
Deep breath, and finally…
8: FSAN ( Financial Supervisory Authority of Norway)
FXTM is giving the Forex trading industry safe and secure trading while covering more than 250 instruments including, shares, metals, commodities, and currencies. With close to half a million accounts, you can quickly see why Forex Time is growing as fast as they have.
So what about their platforms, and the types of trades? What choices or options do you get with FXTM? Below we will take a look to see what options you have when looking for an account.
MetaTrader4 and MetaTrader5 are two of the most comprehensive and extensive platforms out on the market today. FXTM uses both
While most experienced traders still prefer to go with MetaTrader4, MetaTrader5 offers tons of unique abilities to make your trades. Such as executing several trade orders in several financial markets.
While those are the impressive industry standard platforms, clients will appreciate the fact, that FXTM allows you to easily trade from anywhere at anytime. Using your IOS or Android, you can trade from the road hassle free.
Living up to their versatility of a leading Forex trading broker, FXTM offers a plethora of accounts you can choose from.
Standard: When you open up a standard account, you will need to deposit a minimum of $100. This will give you maximum leverage of 1:1000 and a minimum trade size of 0.01. 1.5 pip on the USD/EUR with instant execution type.
Cent: A minimum of $5 is needed to open up a Cent account. This will give you the same leverage and trade size share as you get with the Standard account option. How it differs is by giving you more PIP at 2.0 Pips on EUR/USD.
Shares Account: A minimum deposit of $100 is needed to open up this account.
ECN Account: There are actually five different types of ECNs, with this one requiring a $500 minimum deposit to play ball. Your leverage is 1:500 with a minimum trade size of 0.01. The commission is $2 per standard lot. Mark execution.
ECN Zero: $200 minimum deposit required to start this account, maximum leverage is 1:1000, and size of the trade is the same as above. You get 2.2 PIPS on the EUR/USD. Mark execution
ECN MT5: The MT5 account requires $500 minimum deposit, as your maximum leverage is 1:500 with a trade size of 0.01. 1.9 t commission $2 per standard lot. Market execution.
Pro: The pro requires a $25,000 deposit start-up, you get leverage of 1:200 with a trade size of 0.01. 0.4 PIPS on EUR/USD. Market execution.
Strategy: Strategy requires a $100 minimum deposit, with leverage of 1:1000.
Bonuses and Promotions
ForexTime has had several promotions and bonuses in the past. The Loyalty Cashback Program gives traders $2-$5 rebates per lot for anyone who deposits $5 up to $10,000, based on deposit value.
FXTM also ran a Demo Forex contest with a $6000 prize pool.
A trader can receive a bonus when they successfully refer a friend through the Refer A Friend program. So if you know anyone and want the extra money now is the time!
One of the ways that make FXTM a popular Forex trading broker, is the number of deposit options and payment methods they offer. Coincidentally, when you open an account with them, you will get the same options for both, withdraw and deposit.
Credit Cards: China Union Pay, Maestro, Visa, MasterCard
E-wallets: Alfa-Click, Baidu, Cash U, Dixiplay, Payza, QIWI, Skrill, Webmoney, WeChat.
Bank Wiring: Ceska Sporitelna AS, Expobank, InecoBank.
FXTM Customer Service
FXTM prides itself in leading the way when it comes to resolving issues and answering confusion. This is why they put a lot of emphasis on their customer support, with the ability to reach 15 different languages. This is what separates them from the rest, the quality of customer support speaks to the person purchasing the product. While offering a variety of customer service numbers for different countries, they are also available to reach their email. Customer service is always keeping you up to date with the latest by using social media platforms like Linkedin, Google Plus, Youtube, Twitter, and Facebook. Be sure to either sign up for those or if you are already signed up on those sites, then simply add them to your friend’s list so you can reach out to them and have your questions are answered.
Education & Training
FXTM understands for the beginner, that you may become overwhelmed by the abundance of terminology. That is why they have offered an in-depth section devoted to “Education.”
Breaking it up into three departments:
Articles and Tutorials: FXTM has created a number of tutorials and articles to better equip you with knowledge and understanding of how the Forex trade industry truly works. Don’t be left out in the dark.
Webinars: FXTM has developed a series of webinar guides to help you enhance your trading experience.
Glossary: As the site indicates, it is only natural to lose a few terms in the Forex trading industry. That’s why a good broker will go beyond to help the beginner remember the ins and out of the terminology by offering a glossary.
Comprehensive trading tools that allow you to maximize your trading abilities
- MetaTrader4 to help you maximize your trading experience
- Glossary helps you acquaint trader to terminology used today.
- Low fees, sign up bonuses, reasonable deposits.
- Flexible PIPS and leverage
- Heavily regulated by many governing bodies throughout the world.
- Variety in accounts so you can’t go wrong with so much choice.
- Tight spreads
- Hedging permitted
- Choices in payment/withdraw options
- Choices in deposit options
- Quick payments making it easier for you to get what you’ve earned.
- Easy to use interface adding convenience to your trading
- Trade with mobile devices
- Trade with your tablet
- Free webinars
- Free seminars
- ECN spreads are tight
- Low minimum initial deposit, low commission fee
- Only MetaTrader based trading platforms available
- Commodity areas are limited.
- Does not provide services for U.S, buit that isn’t a problem for south africans of course!
FXTM is quickly becoming the forerunner in the Forex industry because of choice and versatility. By offering you a plethora of payment options, as well as, depositing, more and more it will attract customers from all walks of life.
If you want easy-to-use, trustworthy, and comprehensive technology when you make your trades, then this is the product for you. FXTM is on the rise for a reason, and the future for them is going to get even brighter.
Thank you for reading this review, brought to you by forexsouthafrica.org.za!