Cyprus-regulated forex broker ForexTime, or FXTM, said on Tuesday it has introduced a refer-a-friend program for existing customers, under which traders can earn up to $10,000. The offering is available for holders of any FXTM account type, but PAMM accounts.
Clients who partake in the referral program get a one-time award of $25 for each friend who uses a client’s referral link as soon as they become active traders. The maximum amount a trader can earn from bringing new clients to FXTM is $10,000.
Referrers will receive the awarded amount on a weekly basis in their trading accounts and can either use it for trading or withdrawal it.
Investors can access and manage their referrals via an especially-designed panel on MyFXTM, the broker’s client area. They can receive their unique Referral URL, track their current and past referral progress, track the status of pending referrals, and see how much you’ve earned. There, traders can also find ready-made shareable suggestions for when they are stuck on what to promote to their friends.
FXTM is based in Cyprus and is regulated by the Cyprus Securities and Exchange Commission (CySEC), which allows it to provide its services in all EU countries. Earlier this year, the broker obtained a license from the Financial Services Board (FSB) of South Africa. It has also set up a London-based unit, but it has provided no information at the time as to whether it plans to acquire a UK license.
The broker offers trading in more than 100 instruments, including forex, spot metals, and CFDs on stocks, commodities, and exchange traded fund (ETFs). It serves retail and institutional clients alike and supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms.