The history of ForexTime
Established in 2011, compared with experienced brokers in forex market, FXTM is the youngest experienced broker. However, FXTM is currently the fastest growing broker, within 7 years, it has 1 million registered accounts and has received lots of prestigious awards such as Most Innovative Broker (2018), Best Forex Broker Russia ( 2018), Best Forex Education Provider Africa (2018) Or Best Trading Conditions (2018). The reason FXTM has achieved such success is largely due to the leadership of its founder Andrey Dashin and a key shareholder of Alpari (a well-known forex broker in the financial market). With valuable experience from Alpari, Andrey Dashin has helped FXTM achieve achievements that not all brokers can do.
Licenses of ForexTime
A reputable broker must first be managed by top financial companies. Understanding that after the Cyprus Securities and Exchange Commission (CySEC) licensed FXTM, with all efforts FXTM has gained IFSC (International Financial Service Commission) certificate of the Republic of Belize.
You may not know that any broker who wishes to operate in the forex market must have at least 1 financial institution in the world licensed. Each financial institution has its own rules, so the bigger the organization, the more stringent the requirements. Therefore, if the broker you are about to open a trading account licensed by a well-known organization in the world, it is a credible broker. Because of this, many underground brokers also seek to counterfeit licenses from these agencies. So you should check or go to the financial institutions such as FCA, NFA, ASIC, FINM ... to see if the broker you want to trade is actually licensed.
Trading platform of ForexTime
Similar to many other reputable forex brokers, FXTM offers two main platforms including MT4 and MT5 software as well as mobile applications so traders can trade anytime, anywhere.
Trading accounts at ForexTime
FXTM offers a wide range of accounts for clients to choose from such as Cent account, Standard account, Stock account, ECN account and Strategic account.
Cent account: suitable for new traders or experienced traders they will use the Cent account to test the broker before making a large deposit. Due to the low minimum deposit of only $ 5, the leverage is up to 1: 1000.
You may probably not know that many traders who are new forex trading and are often advised to trade on demo account to gain more experience before switching to real trading accounts. This may be true for many people, but in our experience, the trade demo really does not have "taste" at all, because the money is not yours so you are very comfortable to play without being under heavy psychological pressure. Therefore, to know the true trade feeling, you should spend 10 $ -20 $ loaded into your Cent account to try trading. Because it is a Cent account, the factor will be 100 times more than, for example $ 10 will become 1000 cents, allow you to practice trading comfortably. Most importantly, through these experiences, you will get a sense of how fierce the forex trading is.
Standard account: offers traders a range of features and perks suitable for all traders, from beginner to expert. Minimum deposit is only from $ 100 and leverage up to 1: 1000, if you have been trading for a while, this is the perfect account for you.
Stock Account: FXTM allows trading of more than 180 stocks with high leverage up to 1:10, zero commission and real-time data from the center of the two largest stock exchanges in the world.
ECN account: the commission in ECN account of FXTM is relatively low, about $ 4 / lot, especially the minimum deposit of FXTM in this type of account can be considered as the lowest of only $ 200 among the credible brokers in STP / ECN format. Therefore, if you would like to trade in the interbank market, opening a forex account at FXTM is the opportunity for you.
Deposits and Withdrawal at ForexTime
ForexTime supports many different deposit and withdrawal methods such as Internet Banking, Bao Kim, Ngan Luong, Visa, Mastercard, Neteller, Skrill ... with fast speed, convenience and no cost. This process at FXTM is processed quite quickly close to Exness. Usually, when withdrawals are made money will be transferred to the account within 10 minutes. For visa cards, the process will be more slowly, specifically, it takes from 3 to 7 working days. We have tried to withdraw money from this broker, and in less than 1 day and the money has returned to my account.
Customer Support at ForexTime
ForexTime (FXTM) has a very enthusiastic support team. You just need to click on the chat button located in the lower right corner of the website screen to meet the support staff.
Pros and cons summary for ForexTime
- Hold many contests on Demo account and many promotions.
- Lots of documentation, good customer care.
- Shares accounts (stocks, securities) have very good spread
- There is a lot of negative feedback that ForexTime usually stretches spreads
- Especially when volatile spread is quite large
If you want to open an account, please click on the below: