Forex Time (FXTM) Review
Forex Time Background – Rising Beginning and Continuous Success
Forex Time (FXTM) started its operations as a licensed broker in the middle of 2011. The well-known entrepreneur Andrey Dashin is the founder of this company. Andrey Dashin has a strong experience in the forex market. He has made a great contribution to develop the Forex market in Europe and the United States of America, which in return affected the performance of Forex Time (FXTM). It has achieved success in a short period of time and quickly grew to become one of the best brokerage firms in the world.
The company’s headquarters are located in Cyprus and as a result of its rapid growth; the company has opened another branch in London. The company’s website is available in 18 languages, which has also helped speed up the company’s spread and formed a broad base of traders from all over the world.
Since the day it was launched till today, Forex Time receives performance quality awards every year. The company received its first award in 2013, a year and a half after its establishment. The award was the “fastest growing forex broker”.
The most important awards received during the course of its work are the following:
- Most innovated product in 2013, and most educational broker in 2014.
- Most trusted forex broker “Dubai” in 2015 and Best FX broker in 2016.
- Best customer service global in 2017 and Best FX broker “Russia” in 2018.
With Forex Time Unique Features, Customer is Always First
Forex Time puts the customers’ satisfaction its top priority and it made great efforts to achieve this goal. FXTM has strong management teams that have long experience aiming mainly to achieve the concept of total quality. Moreover, it has a strong team of analysts who have long experience in the field, which helps traders to execute better transactions, and the company has won several international awards for the best analytics provided by brokerage companies.
The Transactions in FXTM are executed immediately without any problems even in peak times and fast movements. Another special feature for the company is that it offers social trading, which allows, through the ultimate program (FXTM Invest), beginner traders to copy the transactions of experts and professionals.
This broker offers a variety of customers’ educational tools including a variety of e-books, educational videos and a variety of articles in addition to various webinar and seminar. It also gives traders full freedom in choosing the trading strategy that suits them and does not put restrictions on any of them, including hedge and scalping. In addition, it provides a variety of promotional offers and distinctive competitions for demo and real accounts. For example, the company offers $30 as a promotional offer when opening a trading account.
Trusted and Regulated
Forex Time is a licensed and reliable broker that subject to the supervision and control of various financial institutions including:
- The Cyprus Securities and Exchange Commission with CIF license number 185/12
- The Financial Services Board (FSB) of South Africa with FSP No 46614
- The Financial Conduct Authority of the UK with number 600475
- The International Financial Services Commission of Belize with License numbers IFSC / 60/345 / TS and IFSC / 60/345 / APM.
Reliability and Safety
FXTM strictly abide by the regulations and highly emphasizing its clients’ fund safety and security. The company creates a safe and reliable trading environment for all customers. Clients’ funds are segregated from the operational funds of the company and kept in top-tier Europe Union banks.
This company adopts the SSL (Secure Sockets Layer) network security and protects customers during their transactions. The card transactions are processed via FT Global Services Ltd, Registration No. HE 335426.
More Than 250 Financial Instruments to Trade
The broker offers the opportunity to trade on more than 250 financial instruments including:
- Forex: the company allows customers to trade over 50 currency pairs. With floating leverage up to 1: 1000 and low spreads starting from 0.1.
- Spot Metals (Gold and Silver) with floating leverage up to 1: 20.
- Share CFDs: over 180 stocks with floating leverage up to 1:33.
- CFDs on Commodity Futures: oil products and indices such as the CAC, DAX and S&P.
The company recently allowing customers to trade “Cryptocurrencies”: Bitcoin, Litecoin and Ethereum CFDs against the US. Dollar with floating leverage up to 1:10.
Six different types of accounts to meet all traders’ needs
Forex Time offers a variety of accounts, each account has its own characteristics to suit different types of traders running from experienced traders to non-experienced, from small depositors to large. The company offers 6 different types of accounts in two different groups as follows:
- Standard Accounts: which is particularly suitable for small deposit holders, within this group there are three types of accounts (standard, cent and share).
- ECN accounts are particularly suitable for large deposit holders. Within this group, there are three types of accounts (ECN, ECN Zero and FXTM Pro).
Each of these six types of accounts is distinguished from the other in terms of leverage, minimum deposit and withdrawal, and financial instruments allowed to be used in trading.
Ease of Withdrawal and Deposit
This broker offers 16 different methods of withdrawals and deposits, including “Bitcoin”, which are free of charge. Deposits and withdrawals are carried out immediately most of the time. Forex Time constantly striving to make this process even easier. The company accepts small deposits where the minimum deposit is $5.
Most Popular Trading Software
FXTM depends mainly on MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, and these applications are available to all of the company’s traders on Windows, Mac, mobile devices and tablets. This enables the traders to execute transactions wherever and whenever they want. In addition, the company offers trading via the web without any need to install (MT4) and (MT5) applications on different devices.
These trading platforms are quick in executing the transactions and technical errors are barely found. In addition to that, it is available for free and it is easy to deal with.
Mobile Trading – For the on-the-go Trader
This company has improved its own trading application (Forex Time APP) and it does continuous updates on it to suit the customers’ evolving needs. The application is available for mobile and tablet devices and allows the trader to view the latest developments in the financial markets and offers a full control of the trading account at any time and anywhere.
Through this application, traders can secure login to trade account, subscribe to experienced trader strategies with FXTM Invest, open a live or demo account. In addition to that traders can deposit, withdraw and monitor funds.
High-Quality Customer Support
This broker makes great efforts to achieve customer satisfaction in the first place by working to meet the requirements of existing customers and to win new ones.
Customer support is available 24 hours a day, 7 days a week and it is available in eight languages to meet the needs of the largest number of customers. The company uses various means of communication to communicate with customers; includes live chat, telephone and Skype. In addition to that, its website is organized, attractive and easy to handle.
FXTM helps beginners by offering many services including general guidance and different teaching aids. It also offers an advantage for the experts to become a manager of trading strategy, where they can offer their strategies to others to use for a certain percentage of profits.
There are many advanced services provided by the company such as; successful trading signals, important reports, a renewable group of promotional offers in addition to, giving accounts without commission to Muslim traders to comply with the provisions of Islamic law.
Things to Improve
Some comments of the company clients:
- Delay in withdrawals and deposits.
- Do not close transactions at stop loss and profit orders.
- Some customers accuse it of not giving a real bonus and that this is nothing but propaganda.
- Some traders accused the company of manipulating prices.
The company dealt immediately with the issues with its clients and responded to the accusations as the following:
- 84% of the withdrawals and deposits were made within 5 minutes.
- Customer adoption is done within 12 minutes and 90% of customers’ opinions are positive.
- The company says that those who accuse the company of manipulation are often beginners’ traders who ignore the basic principles that govern the basic principles of these markets.
- Some trades that were not closed at profit and loss stop orders were mostly during strong news times and rapid price jumps, as the price did not touch these predefined orders.
To Sum Up
Based on the above, with a neutral look, we can say that Forex Time is one of the most respected and leading companies in the field. In a short period of time, it has achieved excellent results and rapid growth and has been able to win many valuable awards.
According to the saying: “those who do not work do not make mistakes”, there were few comments and suggestions from some clients and the company has responded to them instantly to maintain its best performance. In the end, few small issues will never be compared to the great achievements and high-quality services provided by the company.
So, We recommend you to try Forex time. Have a look at their website and check out what they can offer you.