What is FXTM?
FXTM is a forex broker that offers trading in over 60 currency pairs, CFDs on precious metals, energies, equity indices, and cryptocurrencies. The company is headquartered in Cyprus and is regulated by the Cyprus Securities and Exchange Commission (CySEC).
FXTM was founded in 2011 by Andrey Dashin, who also founded the Alpari Group of Companies. The company has a strong focus on education and offers a variety of free educational resources to help traders improve their skills.
One of the major selling points of FXTM is that it offers a very low minimum deposit requirement of just $5. This makes it an attractive option for beginner traders who may not have a lot of capital to start with. However, it’s important to note that FXTM does not offer demo accounts. So if you’re new to trading, you’ll need to open a live account to get started.
Overall, FXTM seems like a legit forex broker with a good selection of currency pairs and other assets to trade, along with decent educational resources. However, without being able to try out the platform through a demo account first, it may not be the best choice for absolute beginners.
Is FXTM a Legit or Scam Forex Broker?
When it comes to online trading, there is always the potential for scams. This is why it’s important to do your research before selecting a broker. FXTM is an online forex broker that has been in business since 2011. They are based in Cyprus and are regulated by CySEC. FXTM offers a variety of account types and investment products, which makes them a good choice for both beginner and experienced traders.
While there have been some complaints about FXTM in the past, overall they seem to be a reputable broker. They offer 24/5 customer support and have a strong online presence. If you’re looking for a reliable forex broker,FXTM could be a good option for you.
The Different Types of Accounts Offered by FXTM
ForexTime (FXTM) is a leading forex broker specialising in forex trading, CFDs, stocks, commodities and spot metals. Start trading forex with FXTM!
We offer a variety of account types to suit your individual trading style. Whether you’re a new trader or an experienced professional, we have an account type that’s right for you.
Standard Account: Perfect for beginners and those who like to keep things simple. No commission is charged on trades.
Minimum deposit: $100
Leverage: up to 1:1000
Micro Account: Ideal for new traders looking to trade smaller sizes with low costs. No commission is charged on trades.
Minimum deposit: $5
Leverage: up to 1:3000
ECN Account: For advanced traders who want direct market access with deep liquidity and low spreads from 0 pips*. Commission is only charged on profits.
Minimum deposit: $500
Leverage up to 1:500 (*on ECN Zero accounts)
The Pros and Cons of FXTM
There are a lot of mixed reviews out there when it comes to FXTM, with some people calling it a legit forex broker and others saying it’s a scam. So, what’s the truth? Let’s take a look at the pros and cons of FXTM to see if we can figure it out.
The Pros:
-FXTM is regulated by CySEC in Cyprus, which is a pretty good regulator.
-They offer a variety of different account types to choose from, so you can find one that fits your needs.
-Their customer service is 24/5, so you can always get help when you need it.
The Cons:
-Some people have complained about issues with withdrawing money from FXTM.
-They don’t have as many currency pairs available as some other brokers.
How to Deposit and Withdraw Money from FXTM
Assuming you are talking about FXTM the forex broker, here is some information on how to deposit and withdraw money from them:
To deposit money into your FXTM account, you can do so via credit/debit card, bank transfer, or e-wallet. The minimum amount you can deposit is $10 (or equivalent in other currency). To withdraw money, you can do so via bank transfer or e-wallet. The minimum amount you can withdraw is $20 (or equivalent in other currency). There is no maximum limit on withdrawals.
Withdrawals will usually take 1-3 business days to process, but this may vary depending on your method of withdrawal and your bank/financial institution.
FXTM is a legit forex broker that is regulated by multiple financial authorities, such as the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC).
Conclusion
Overall, we would say that FXTM is a legit forex broker. They are well-regulated and have a good reputation in the industry. They offer a decent range of products and services, and their fees are not too bad either. That said, there are some things you should be aware of before you sign up – make sure you read the fine print carefully so that you know exactly what you’re getting into.