FOREX TIME Company

Forex Time Broker - Comprehensive Information Guide

1. Broker Overview

ForexTime, commonly known as FXTM, was established in 2011 and has rapidly developed a significant presence in the online trading industry. Headquartered in Limassol, Cyprus, with additional offices in locations such as the United Kingdom and Mauritius, FXTM operates as a private company. It primarily serves retail and institutional clients across various global markets, including Europe, Africa, Asia, and beyond.

Since its inception, FXTM has achieved numerous milestones, including the launch of its trading platforms and the introduction of diverse account types tailored to meet the needs of various traders. The broker has garnered a reputation for its commitment to providing high-quality trading services, innovative tools, and extensive educational resources. FXTM is part of the Exinity Group, which encompasses several other trading brands, enhancing its market reach and operational capabilities. The business model focuses on retail forex trading, offering a wide range of financial instruments, including CFDs on commodities, indices, and stocks.

2. Regulation and Compliance Information

FXTM is regulated by several reputable authorities, ensuring a high level of trust and safety for its clients. The primary regulatory bodies overseeing FXTM include:

• Cyprus Securities and Exchange Commission (CySEC) - License number 185/12
• Financial Conduct Authority (FCA), UK - License number 777911
• Financial Sector Conduct Authority (FSCA), South Africa - License number 46614
• Capital Markets Authority (CMA), Kenya - License number 135
• Financial Services Commission (FSC), Mauritius - License number C113012295

These regulatory licenses are valid for the scope of services provided by FXTM in their respective regions. The broker adheres to strict compliance measures, including Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, ensuring the security of client funds and personal data.

FXTM implements a client funds segregation policy, keeping clients' funds in separate accounts from the company's operational funds, which enhances security. Additionally, clients in certain jurisdictions are protected by investor compensation funds, such as the Financial Services Compensation Scheme (FSCS) in the UK, which provides coverage up to £85,000 in case of broker insolvency.

3. Trading Products and Services

FXTM offers a diverse range of trading products, catering to various trading preferences and strategies. The broker provides access to over 60 currency pairs, including major pairs like EUR/USD, GBP/USD, and USD/JPY.

In addition to forex trading, FXTM offers a variety of CFD products across different asset classes:

• Indices: Major global indices are available for trading, providing exposure to stock market performance.
• Commodities: Traders can access commodities like gold, silver, and crude oil.
• Stocks: FXTM provides CFDs on shares from major companies listed on global exchanges.
• Cryptocurrencies: Limited access to cryptocurrency CFDs is also available, allowing traders to capitalize on the digital currency market.

FXTM regularly updates its product offerings, introducing new instruments to meet market demand and enhance trading opportunities. The broker focuses on retail trading services, while also catering to institutional clients through tailored solutions and white-label offerings.

4. Trading Platforms and Technology

FXTM supports the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are renowned for their robust trading capabilities and user-friendly interfaces. Both platforms are available for desktop, web, and mobile devices, ensuring traders can access their accounts and execute trades from anywhere.

MetaTrader Features

• MT4: Offers a comprehensive suite of tools for technical analysis, automated trading through Expert Advisors (EAs), and supports multiple order types.
• MT5: Provides advanced features, including additional timeframes, more technical indicators, and a built-in economic calendar, catering to more sophisticated trading strategies.

FXTM does not have its proprietary trading platform but leverages the strengths of MT4 and MT5 to deliver a seamless trading experience. The broker employs a no dealing desk (NDD) execution model, ensuring that trades are executed at the best available market prices without conflicts of interest.

5. Account Types and Trading Conditions

FXTM offers several account types to accommodate the diverse needs of traders:

• Micro Account: Requires a minimum deposit of $10, with spreads starting from 1.5 pips.
• Advantage Account: Aimed at more experienced traders, this account requires a minimum deposit of $500 and offers spreads from 0.0 pips with a commission structure based on trading volume.
• Advantage Plus Account: Similar to the Advantage Account but with no commissions, spreads start from 1.5 pips.

FXTM provides a demo account option for all account types, allowing traders to practice and refine their strategies without financial risk. The leverage offered varies, with options up to 1:2000 depending on the account type and trading instruments. Additionally, FXTM has a transparent overnight fees policy that applies to positions held beyond the trading day.

6. Fund Management

FXTM supports a wide range of deposit and withdrawal methods, ensuring convenience for its clients. The available methods include:

• Bank Transfers
• Credit/Debit Cards (Visa, MasterCard)
• E-wallets (Skrill, Neteller, Perfect Money)

The minimum deposit requirement varies by account type:

• Micro Account: $10
• Advantage and Advantage Plus Accounts: $500

Deposits are typically processed within 2 hours, while withdrawal times vary based on the method used. For instance, withdrawals via credit cards may take up to 24 hours, while bank transfers can take up to 5 business days. FXTM does not charge deposit fees, but withdrawal fees may apply depending on the chosen method.

7. Customer Support and Educational Resources

FXTM provides comprehensive customer support through various channels, including:

• Live Chat
• Email
• Phone Support
• Social Media (Telegram, Facebook)

Customer service is available 24/5, ensuring traders can receive assistance when needed. The support team is multilingual, catering to a diverse client base.

In terms of educational resources, FXTM offers a robust selection, including:

• Webinars: Regularly scheduled sessions covering various trading topics.
• Tutorials and E-books: Resources designed for traders at all levels.
• Market Analysis: Daily updates and insights provided by in-house analysts.

These educational tools are aimed at enhancing traders' knowledge and skills, making FXTM a suitable choice for both beginners and experienced traders.

8. Regional Coverage and Restrictions

FXTM serves a global audience, with a strong presence in regions such as Europe, Africa, and Asia. The broker has established offices in key markets, allowing for localized support and services.

However, FXTM does not accept clients from specific jurisdictions, including:

• United States
• Canada
• Japan
• North Korea
• Iran
• Cuba

These restrictions are in place due to regulatory limitations and compliance requirements. Traders should verify their eligibility based on their country of residence before opening an account.

In conclusion, FXTM stands out as a reputable forex broker with a focus on providing a comprehensive trading experience. With its robust regulatory framework, diverse product offerings, and commitment to client education, FXTM is well-positioned to cater to the needs of traders across various skill levels. The broker's innovative trading solutions and customer-centric approach make it an attractive option for anyone looking to engage in the forex market.