- 250+ instruments
- Naira accounts available
- Low minimum deposits
- Great trading conditions
- High-tech trading tools
- Transparent pricing
Forextime (FXTM) is one of the world’s fastest growing brokers. It has an impressive selection of trading instruments including currency pairs, precious metals, stocks, indices, and commodities. It also offers great trading conditions complete with tight spreads, high leverage, and low commission. What’s more, FXTM provides a great range of trading platforms and trading support tools. Could this be the right broker for you? Read our review to find out.
FXTM has a licence from the Cyprus Securities and Exchange Commission (No. 185/12), FXTM also has licences from the Financial Services Board (FSB) of South Africa (No. 46614). and the Financial Conduct Authority of the UK (No. 600475)
FXTM is a highly reputable broker and abides by all the relevant client fund protection regulations. It keep clients’ funds in reliable top-tier banks. It also keeps client funds separate from its operational funds.
You can trade using either MetaTrader 4 or MetaTrader5. The trading conditions available on your platform vary slightly depending on which account type you choose.
Leverage – up to 1:30
Spreads – from 0.1 pips
Volume – 0.01 lots
Currency – USD, EUR, GBP
FXTM has six different account types. These are the Cent Account, the Standard Account, the Stock CFD Account, the ECN Account, the ECN Zero Account, and the FXTM Pro Account.
FXTM offer Naira trading accounts exclusively for Nigerian citizens and residents. You can fund your account via local Nigerian bank wires. There are no currency conversion fees or commission fees from FXTM. To open an account in Naira, simply choose NGN as the account currency when you sign up.
The complete list of minimum deposits for all the account types are as follows:
Cent Account – 10 $/€/£
Standard account – 100 $/€/£
Stock CFD Account – 100 $/€/£
ECN Zero Account – 200 $/€/£
ECN Account – 500 $/€/£
FXTM Pro – 25000 $/€/£
The FXTM accounts come with very low commission rates.
Deposits & Withdrawals
FXTM offers a good range of payment options. You can make deposits using a debit card, credit card or bank transfer. You can also deposit using one of the available e-wallets: Skrill, Neteller, and DotPay. It is also possible to withdraw your funds using all of those payment methods.
FXTM has many helpful trading tools. Firstly, it provides free trading signals. The signals are developed in-house by a team of market experts and are designed to help you identify good opportunities to trade. Secondly, it offers access to a free trading strategy – the FXTM Pivot Points Strategy. This strategy is also managed in-house and is designed to help you understand market sentiment and price direction. Finally, it offers a useful set of MT4 indicators, including a Spread Indicator and an Order Indicators. The indicators are intended to help you analyse the markets, manage risk, and trade more effectively.
When it comes to education, FXTM is committed to helping new and experienced traders get more out of their trading. It offers a selection of free education materials design to help you develop a basic understanding of the forex market and how forex trading works. However, you can only access the materials if you open an account.
FXTM also offer free VPS services. Their VPS services are available on both demo and live accounts. However, they only offer this service to a limited number of clients. To find out if you qualify for free VPS services, you need to open an account and contact your assigned Account Manager.
FXTM Customer Support
The FXTM support staff are very friendly and are available 24 hours a day, 5 days a week. You can contact them via live chat, email, and phone.
+357 25 55 8 777
To conclude, we think FXTM is a world-class brokers with excellent trading services. It offers great trading conditions, cutting-edge trading technology, and excellent customer service. We also think that its Naira account and its dedication to serving the Nigerian market make it a great choice for traders!
We hope you enjoyed our FXTM review. To open an account, click here.