FXTM Review: A Nigeria-focused forex broker, regulated by CySEC

FXTM: Click for a special offer

Stemming out of Cyprus, ForexTime, a.k.a. FXTM, is a global and award-winning broker with clients from over 180 countries.

FXTM offers more than 240 instruments to trade in, including a number of currency pairs and various CFDs (plus shares CFDs reinforced by a direct connection to the NYSE and NASDAQ). What is more, clients of this broker may choose from market and instant execution, MetaTrader 4 and MetaTrader 5 trading platforms, and a wide range of trading accounts.

 

Regulation: CySEC (Cyprus), FSB (South Africa)
Although under the European MiFID regulations, all CySEC regulated brokerages are free to operate in any EU Member State, FXTM is officially registered with a number of EU regulators: UK’s FCA, Germany’s BaFin, Italy’s CONSOB, France’s AMF, Spain’s CNMV and Norway’s FSAN.
Online since: 2011
Trading model: NDD (Dealing desk on Mini accounts)
Trading platforms: MetaTrader 4, MetaTrader 5
Min. Deposit: $5
Min. Trade size: 0.01 (micro lots)
Max. Leverage: 1:1000 (also available for ECN accounts as of September 1, 2016);
Bonus: Loyalty cashback rebates from $2 to $5 per lot, depending on clients’ deposit value.
Website: www.forextime.com

Cost of trading

Spread: Floating, varying by account type
– averaged 1.5 pips on EUR/USD on commission free Standard account
– averaged 0.5 pips on EUR/USD on ECN MT4 account + commission
Commission: $2 per standard lot (per side)

Latest news about FXTM

FXTM launches customer support via Telegram

EU forex broker FXTM announced it is launching a customer support channel via the Telegram Messenger platform. The chat option has been

FXTM becomes sponsor of tennis star Dominika Cibulková

EU forex broker FXTM expands its list of sports sponsorships with the addition of tennis star Dominika Cibulková. This is the most

FXTM merges ECN Zero and Strategy Accounts

FXTM, a Cyprus-regulated forex and CFD broker said it is extending the services available to clients with ECN Zero and Strategy Accounts.

FXTM now accepts deposits in Bitcoin

FXTM, a Cyprus-regulated forex and CFD broker, announced it has added the cryptocurrency Bitcoin as a deposit option. The option is made

FXTM adds Estonian Versobank as payment option

FXTM, a Cyprus-regulated forex broker, announced it has added the Estonian Versobank as a deposit and withdrawal option for its clients. According

FXTM becomes sponsor of IndyCar driver Ed Jones

FXTM, a Cyprus-regulated forex broker, announced it has become the sponsor of rookie IndyCar driver Ed Jones. “Racing is fast-paced,” says Martin

FXTM launches own trading signals

FXTM (ForexTime), a Cyprus-regulated forex broker, announced it is launching its own trading signals for its clients. They were developed by FXTM’s

FXTM adds withdrawals, deposits in THB via MyPay for Thai clients

Cyprus-regulated forex broker FXTM has enabled clients in Thailand to withdraw or deposit funds from their trading accounts using e-payment service provider

FXTM adds Baidu Pay as payment method

Cyprus-regulated forex broker FXTM said it has added support for Baidu Pay e-wallet and its clients can make deposits or withdrawals using

FXTM introduces negative balance protection on back of latest CySEC rules

EU forex broker ForexTime, or FXTM, has added negative balance protection to all client accounts, the broker said on Thursday. This means