Forex Time (FXTM) Broker Review

Why trade with Forex Time (FXTM)
Forex Time (FXTM)

  • Low minimum deposit
  • No Dealing Desk (NDD) technology
  • Deep interbank liquidity
  • Expert Advisors / Logarithmic Trading allowed

Forex Time (FXTM)

Forex Time (FXTM) offer to their Clients Forex (Currencies), Spot Metals (Gold & Silver), Shares CFDs, ETF CFDs, CFDs on Commodity & CFDs on Index Funds Futures.

REGULATION

They are regulated by Cyprus Securities and Exchange Commission with CIF license number 185/12, Financial Services Board (FSB) of South Africa, with FSP No. 46614 and

Financial Conduct Authority of the UK with number 600475.

FUNDS SAFETY
Forex Time keeps clients funds in segregated accounts in top-tier EU banks.

PLATFORMS 
You can trade on platforms Metatrader 4 and 5, on PC, MAC, mobile or tablet, web versions and MultiTrading (manage multiple accounts from the same platform) also available.

Forex Time

ACCOUNT TYPES
Forex Time operates a True ECN model. They offer many account types (including Islamic account), you can choose from Standard and Cent with instant execution,
ECN MT4, ECN MT5, ECN Zero, FXTM Pro and Strategy Account, leverage varying from 1:1 to 1:1000.
In addition to high leverage, trade with low spreads, from 0.1 pips.
Minimum volume to trade is 0.01 lots – maximum depends on the account type

Currency – USD / EUR / GBP

MINIMUM DEPOSIT
Starts with:

Standard account – 100 $/€/£
Cent account – 5 $/€/£
Strategy Account – 100 $/€/£
ECN Zero – 200 $/€/£ ECN MT4 – 500 $/€/£
FXTM ECN MT5 – 500 $/€/£
FXTM Pro – 25000 $/€/£
Investment Account – 100 $/€/£

COMMISSION
Forex Time commission is only charged on the (MT4) ECN Account and the FXTM ECN MT5.
On MT5,the commission is fixed at $4.00 per lot. ($2.00 when position opens and $2.00 when position closes)
On ECN MT4 account is calculated per lot at 4 units of the trading account Currency.

DOCUMENTS
To get your trading account approved you must submit the following documents:

Proof of Identity Document (original, full image, color copy):
Passport/ National ID Card/ Driving License/

Proof of Address Document:
Utility Bill (Electricity/ Telephone/ Water) OR a Bank/ Credit Card Statement issued within the last 6 months
No mobile telephone bills and documents which contain a P.O. Box address.

DEPOSITS AND WITHDRAWALS

Deposit method            Currency         Fees / Commission        Processing Time


Nigeria Local Bank                NGN                      No Commission                 1 Business Day
WireTransfer

  • Diamond Bank
  • First Bank Plc
  • Guaranty Trust Bank
  • Keystone Bank
  • Standard Chartered Bank
  • Zenith Bank

For withdrawals you can use e-Wallets, bank wires transfers, credit/debit cards and local payment solutions.

FXTM:
Rating 4.5
by Tradeforex.ng

 

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