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

fxtm-250Stemming 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.

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 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. 

FXTM updates deposit reimbursement policy, waives fees

Cyprus-regulated forex broker FXTM announced it has updated its deposit reimbursement policy effective from November 1, 2016. Under the updated rules, the

FXTM offers up to $10,000 to clients who refer friends

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

FXTM-backed BASE jumper Valery Rozov breaks world record

Valery Rozov, the BASE jumper and Red Bull athlete supported by the Cyprus-regulated forex broker FXTM, has set a new world record

FXTM launches Skrill, Neteller VIP program

Cyprus-regulated forex broker ForexTime, or FXTM, said on Thursday it has launched a VIP program in partnership with e-payment systems Skrill and