Union Bazaar Forex Broker

FXTM Investment Option Forex Broker - Complete Information Guide

1. Broker Overview

　　FXTM, also known as ForexTime, was established in 2011. The broker's headquarters are located in Limassol, Cyprus, with additional offices in various regions including the United Kingdom, South Africa, and Mauritius. FXTM operates as a private company, focusing on providing a comprehensive suite of trading services to both retail and institutional clients across the globe.

　　FXTM serves a diverse clientele, including retail traders, professional investors, and institutional clients. The broker has gained significant traction, boasting over 3 million clients from more than 180 countries. Since its inception, FXTM has continually expanded its service offerings and technological capabilities, establishing itself as a prominent player in the forex trading industry.

　　The company was founded by Andrey Dashin, a well-known figure in the financial sector, who also has ties to other successful trading firms. FXTM has achieved several milestones throughout its history, including the launch of various innovative trading platforms and the expansion of its product offerings to include different asset classes.

　　FXTM operates primarily in the retail forex market, offering services such as forex trading, CFDs, and commodities trading. The broker's business model focuses on providing competitive trading conditions, advanced trading platforms, and educational resources to empower traders at all levels.

2. Regulation and Compliance Information

　　FXTM is regulated by several reputable financial authorities, ensuring a safe trading environment for its clients. The primary regulatory bodies overseeing FXTM include:

• Cyprus Securities and Exchange Commission (CySEC) - License number: 185/12
• Financial Conduct Authority (FCA) in the United Kingdom - License number: 777911
• Financial Sector Conduct Authority (FSCA) in South Africa - License number: 46614

　　Each regulatory body imposes strict compliance requirements, which FXTM adheres to diligently. The broker provides a high level of transparency regarding its regulatory status and operational practices.

　　FXTM maintains a robust client fund protection policy, ensuring that client funds are kept in segregated accounts separate from the broker's operational funds. This measure is crucial for safeguarding clients' investments against potential insolvency risks.

　　Moreover, FXTM participates in investor compensation schemes that provide additional protection for clients in case of broker insolvency. For instance, UK clients are protected under the Financial Services Compensation Scheme (FSCS), which covers up to £85,000.

　　The broker also implements comprehensive Know Your Customer (KYC) and Anti-Money Laundering (AML) measures to prevent fraudulent activities and ensure compliance with international financial regulations.

3. Trading Products and Services

　　FXTM offers a wide range of trading products across various asset classes. Traders can access:

• Forex: Over 60 currency pairs, including major, minor, and exotic pairs.
• CFDs: Contracts for differences on a variety of underlying assets, including indices, commodities, and shares.
• Commodities: Trading opportunities in precious metals like gold and silver, as well as energy products such as crude oil and natural gas.
• Indices: Access to major global stock indices, providing a broad market exposure.
• Cryptocurrencies: FXTM allows trading of popular cryptocurrencies like Bitcoin and Ethereum through CFDs.

　　FXTM is committed to regularly updating its product offerings, ensuring traders have access to the latest market opportunities. The broker's retail trading services are tailored to meet the needs of both novice and experienced traders, providing them with a comprehensive trading experience.

　　For institutional clients, FXTM offers tailored solutions, including liquidity provision and white-label services. The broker also provides asset management services, although these are primarily focused on retail clients.

4. Trading Platforms and Technology

　　FXTM supports two of the most popular trading platforms in the industry: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are known for their user-friendly interface and advanced trading capabilities, including:

• MT4: Offers a wide range of technical indicators, customizable charts, and automated trading through Expert Advisors (EAs). It is widely favored by forex traders for its simplicity and effectiveness.
• MT5: An upgraded version of MT4, MT5 provides additional features such as more order types, advanced analytical tools, and access to a broader range of financial instruments.

　　FXTM also offers a proprietary mobile trading application, known as the FXTM Trader, which is available for both iOS and Android devices. This app allows traders to manage their accounts, place trades, and access real-time market data on the go.

　　The broker utilizes an ECN (Electronic Communication Network) execution model, ensuring fast and transparent order execution. FXTM's trading servers are strategically located in various regions to enhance execution speeds and minimize latency.

　　Additionally, FXTM supports API access and automated trading, catering to traders who prefer algorithmic trading strategies. The broker's technology infrastructure is designed to provide a seamless trading experience for all users.

5. Account Types and Trading Conditions

　　FXTM offers a variety of account types to accommodate different trading styles and preferences:

• Standard Account: Requires a minimum deposit of $10, with spreads starting from 1.3 pips and no commission on trades.
• Cent Account: Designed for beginners, this account allows traders to practice with minimal risk. The minimum deposit is only $10, with floating spreads starting from 1.5 pips.
• ECN Account: Suitable for experienced traders, this account type offers direct access to the interbank market with tight spreads from 0.1 pips and a commission of $2 per lot.
• ECN Zero Account: Similar to the ECN account but with no commission on trades, starting spreads are slightly higher, beginning at 1.5 pips.
• Shares Account: Tailored for trading individual stocks, this account provides access to over 180 US shares with competitive commissions.

　　FXTM also offers a free demo account for traders to practice their strategies without risking real capital. The leverage offered by FXTM varies by account type and jurisdiction, with retail clients able to access leverage up to 1:30 for forex trading.

　　The broker imposes overnight fees on positions held open past the trading day, which are calculated based on the interest rate differential between the currencies involved.

6. Funds Management

　　FXTM supports a wide range of deposit methods, allowing clients to fund their accounts conveniently. The available methods include:

• Bank Transfers
• Credit/Debit Cards (Visa, Mastercard)
• Electronic Wallets (Skrill, Neteller)

　　The minimum deposit requirement varies by account type. For instance, the standard and cent accounts require a minimum deposit of $10, while the ECN account requires $500.

　　Deposits are typically processed instantly, while withdrawals may take between 24 hours to 5 business days depending on the method chosen. FXTM does not charge deposit fees, but withdrawal fees may apply for certain methods, such as a $3 fee for credit card withdrawals.

　　Inactivity fees are also applicable, amounting to $5 after three months of no trading activity. Traders should review the specific fees associated with their chosen payment methods to avoid unexpected costs.

7. Customer Support and Educational Resources

　　FXTM provides robust customer support through multiple channels, including:

• Live Chat
• Email Support
• Phone Support

　　The support team is available 24/5, ensuring that traders can receive assistance whenever needed. FXTM offers multilingual support, catering to a diverse client base.

　　In addition to customer support, FXTM is committed to educating its clients. The broker provides a range of educational resources, including:

• Webinars: Regular live sessions covering various trading topics.
• Video Tutorials: A library of educational videos on trading strategies and platform usage.
• Ebooks: Comprehensive guides on forex trading and risk management.
• Market Analysis: Daily updates and insights to keep traders informed about market movements.

　　FXTM also offers trading tools such as calculators and economic calendars to assist traders in making informed decisions.

8. Geographic Coverage and Restrictions

　　FXTM operates in numerous countries worldwide, providing trading services to clients in regions such as Europe, Asia, and Africa. The broker's offices are strategically located in:

• Cyprus (Headquarters)
• United Kingdom
• South Africa
• Mauritius

　　However, FXTM does not accept clients from certain countries due to regulatory restrictions. These countries include:

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

　　The broker's services are tailored to comply with the legal requirements of each jurisdiction, ensuring a secure trading environment for its clients.

　　In conclusion, FXTM is a well-regulated broker offering a diverse range of trading products and services. With its commitment to client education, robust customer support, and competitive trading conditions, FXTM has established itself as a reputable choice for traders around the globe. Whether you are a novice or an experienced trader, FXTM provides the tools and resources necessary to succeed in the financial markets.