To understand whether FXTM is suitable for you or not, I recommend to pay attention to these 3 things: reputation, trading conditions, and regulation.
For how long the company is in the market?
- ForexTime is in the market since 2010.
What are the main advantages here?
- FXTM offers 7 types of accounts (3 standard and 4 ECN) and very flexible conditions. If you search for an ECN broker, ForexTimes is a great option.
Did you find any reasons not to work with this broker?
- We found a lot of negative reviews on various websites. There is no way to check if they are real or not, need to test everything on your own.
Does FXTM have swap-free (Islamic) accounts?
- Yes, FXTM is suitable for Middle-East traders.
What is the minimum deposit amount?
- It is possible to start trading at $100.
Is this broker regulated?
- Yes, FXTM is regulated by CySec (Cyprus Securities and Exchange Commission) and FSB (Financial Services Board).
Anything special about spreads and margin leverage?
- FXTM offers 1:1000 leverage which is the highest option in the market. Keep in mind that these conditions would not be possible under strict European regulation. Overall, the company offers a wide range of trading accounts and flexible conditions.
|Avg rebate per lot||$4.00|
|Trading platform||MT4, MT5|
|Minimum trade size||0.01|
Suspicious reviews that we found
The FIRST and the WORST broker I’ve ever experiences since my first trading. I deposited certain amount to increase the margin levels. My deposit has been delayed on purpose for more than 12 hours, yes more than 12 hours to process a deposit!!! as the result I lost more than US$2000 with 3 positions been stopped out due to margin call. I’ve submitted my request about this problem and the excuse they gave was ridiculous, they said they need time to check my transaction while it was not my first time depositing using my credit card!! the previous time it only took 15 minutes process my deposit, same credit card. At the end they refuse to take responsibility and claim that they did not do anything wrong. I’ve checked the price chart of the pair position got stopped out, if my deposit arrived on time like 15 to 30 mins as usual I wound not have lost my money. In this situation can I sue them or can I directly contact their regulator, I’ve got all evidence from bank statement and deposit history? Please give me some advice, really appreciate.*
*We found this review on Forexpeacearmy.com.