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 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

FXTM becomes official sponsor of Sahara Force India F1

EU forex broker ForexTime, or FXTM, has landed a partnership with the Sahara Force India Formula One. The broker has become the

FXTM halves max leverage to 500:1 on back of CySEC limitations

Cyprus-regulated forex broker ForexTime, or FXTM, said it has halved the maximum leverage rate it offers for forex instruments to 500:1 from

FXTM diversifies trading portfolio with physical gold, delivery service

Cyprus-regulated forex broker ForexTime, or FXTM, has launched a new service, allowing clients to trade with and store physical gold and get

FXTM alters margins for index, commodities CFDs on ECN server

Cyprus-regulated forex broker ForexTime, or FXTM, is setting new margin rates for contracts for difference (CFDs) on indices and commodities on ECN

FXTM adds trading in index, commodities CFDs for ECN accounts

Cyprus-regulated forex broker ForexTime, or FXTM, has introduces trading in contracts for difference (CFDs) on indices and commodities on ECN trading accounts,

FXTM adopts MT5 WebTrader with hedging capability

Cyprus-regulated forex broker ForexTime, or FXTM, said on Monday it has adopted the web-based version of the MetaTrader 5 (MT5) trading platform.