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 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

FXTM to hike leverage to 1,000:1 for all ECN accounts from September 2016

Cyprus-regulated forex broker ForexTime, or FXTM, said on Tuesday it is raising the leverage rate for all trading accounts on its ECN

Forex broker FXTM integrates client area to mobile app

Cyprus-regulated forex broker ForexTime, or FXTM, said on Friday it has updated its ForexTime mobile application to feature its fully operational client

FXTM changes margin requirements on spot metals from next week

FXTM (ForexTime), a Cyprus-regulated forex broker, announced it is changing the margin requirements on spot metals, on all servers, except Pro, as

FXTM gets forex license from South Africa’s FSB

After opening a training center in Pakistan and officially launching a UK division earlier this year,  ForexTime, a.k.a. FXTM, continues the expansion