FEATURES OF FOREX TIME (FXTM)
- Open $1M free demo account
- Tight spread from 0 pip
- Learn forex trading step by step guide (pdf, videos)
- Receive FREE Daily Market Analysis & Forecast
- Join FREE Webinars
- Invest with TOP Trading Manager (Social Copy Trading)
- Participate in Trading contest & win prize money
FXTM (Forex Time) started its business in 2011 by forex industry leader Andrey Dashin, a key shareholder of another forex broker Alpari. Since Forex Time started its journey, they have included MT4 (Meta Trader 4) & MT5 (Meta Trader 5) to expand its trading platform range.
Now a days, Forex Time provide several exclusive offers to its traders. Including 7 different facilitate trading account along with 59 currency pairs to trade, CFDs on 179 single stock shares, 11 indices, 5 metals & 3 energy contracts. More importantly Forex Time also provide “Social Copy Trading” through Forex Time investment portfolio.
The FXTM brand has attained regulatory licenses in several jurisdictions, including EU via its CySEC-regulated brand in Cyprus under Forex Time Limited. It was also licensed in South Africa by the Financial Services Board (FSB). In addition, FXTM is regulated in Belize by the IFSC under FT Global Limited.
COMMISSIONS & FEES
Forex Time (FXTM) offers its traders with 7 different trading account which have many different features & each accounts may differ in trade execution method, range of markets, available platform & commissions & fees.
Cautions: You will find lowest spreads on ECN account
Forex Time (FXTM) offers instant execution method on 3 accounts which includes Cent account for forex & metal trading. Standard account offers lower comparable spreads for forex trading & has less restrictions on maximum trade size & Shares account offers only for single stock CFDs.
Forex Time (FXTM) has its most competitive offerings in terms of trading cost on its other 4 trading account. Including commission based ECN account, ECN MT5, commission free ECN ZERO account & FXTM Pro account for traders who deposited at least $25,000
ECN account which has commission offers Round Turn (RT) commission $4 per 100,000 units (1 standard lot) based on $2 per side per standard lot.
As an example: FXTM list typical spreads of 0.4 pips on ECN account for EUR/USD pair, which means totaled cost is 0.8 pips after factoring in the RT commission which is equivalent of 0.4 pips.
Most attractive features a forex trader may find in Forex Time (FXTM) is Research provided in form of “Daily Technical & Fundamental Analysis & News” from its in house team of analysts. They also provide daily blog updates & videos as well as a quarterly market forecast report.
Forex Time (FXTM) provides twice daily trading signals on over dozens of instruments, 8 currency pairs with stop loss & multiple take profit levels.
FXTM broker also provide an economic calendar which is powered by FXStreet with streaming news headlines
PLATFORMS & TOOLS
Forex Time (FXTM) provides MT4 & MT5 platform for trading for desktop, mobile & web.
Since Forex Time (FXTM) provide Meta Trader MT4 & MT5 for trading, iOS and Android versions of the MT4 and MT5 software come standard and are both accessible for download from the Apple iTunes store and Android Playstores.
Even Forex Time (FXTM) has its own mobile apps, this usually for account administration to sync with the MyForexTime portal, forex trading cannot be done on the app.
It is worth to note that, on ECN account stop loss & take profit level can only be placed after an order has been executed. This however, put a restriction limits on trader’s ability to use the pending order feature as therefore, trader can’t put a stop loss in advance. In other case, standard account does not have this limitation though.
In case of leverage, depending on margin level there are different tiered levels on trade size per account. On Pro account there are even less favorable margin rates, where leverage is capped at 200:1 for trade up to 5 million units. On different ECN accounts, same kind of leverage benefit can be acquired for up to 6 million units’ trade & even higher leverage for small trade sizes. This effectively making a Pro account less flexible for larger positions.
In the end, there is a threshold when a stop out liquidates & trigger, probability of occurring this event could increase from 50% to 100% for an ECN account in the last hour before trading session closed on Friday. This however affect trader’s holding position throughout the weekend as this could lead to a stop loss triggered more frequently.
Forex Time (FXTM) offers its traders multiple account options which have more or less exclusive features, ranging from different execution method, variety markets to trade with, different in price. Most importantly, ECN accounts is more competitive when it comes to pricing but yet stop level & limit levels can only be added after execution of a trade.
Forex Time (FXTM) offers different options in different trading accounts, which will help different kind of traders to meet their needs.