FXTM

FXTM Review
Trader's rate 4.5
Editor's rate 5.0

Trading Accounts

 

Account type Minimum deposit   Minimum trade size Maximum leverage  Average Spreads  Execution type
Cent  $5 0.01 1:1000 2.2 pips  Instant
Standard  $100 0.01 1:1000 1.8 pips Instant
ECN Zero.mt4 $200 0.01 1:1000 1.7 pips  Market
ECN MT5 $500  0.01 1:1000 1.9 pips + commission $2* Market
ECN $500  0.01 1:1000 0.7 pips + commission $2* Market
PRO $25 000 0.01 1:200 0.4 pips Market

 

*Commission is calculated per standard lot of 100 000 currency base units (per side).

 

FXTM offers a wide range of trading accounts, which may be categorized in two groups: Standard (Standard, CENT, and Shares accounts) and ECN (ECN MT4, ECN MT5, ECN ZERO and Pro).

 

In addition to the ones shown in the table above, there is a special account for trading in CFDs on shares, called Shares account, which is directly connected to NYSE and NASDAQ’s product price listings.

 

Furthermore, FXTM offers PAMM and swap-free options. Swap-free (Islamic) services are available on all account types (except the MT5 one) and involve a fee of $ 1.7 per lot.

 

Micro, mini and standard lots are available on all account types.

 

Trading Conditions

 

Minimum initial deposit

In order to open an account with FXTM, one has to invest just $5, which is a symbolically low minimum initial deposit.

 

Spreads & Commission

Most of FXTM’s accounts are commission-free: Standard ones, as well as the ECN Zero and Pro accounts. Only ECN MT4 & ECN MT5 accounts involve a small commission fee of $4 (per standard lot round trip).

 

The floating spreads offered by this broker vary by account type. The tightest spreads are available on the ECN and Pro accounts; however, the latter is intended for institutional clients (with minimum initial deposit of $25 000), so we would recommend the ECN (MT4). The typical ECN (MT4) spreads amount to 0.7 pips on EUR/USD and if we include the commission, average trading costs for this pair are around 1.1 pips per lot, which is a good offer.

 

Maximum leverage

High leverage levels are available with this broker – up to 1:1000. However, in order to control the risk associated with it, the broker utilizes a floating leverage system. For positions with notional value from $200 000 to $2 000 000, for instance, maximum leverage is 1:500.

 

The Company. Security of funds

 

FXTM is a broker that truly suits the needs of traders of all skill levels and preferences. Its offering covers more than 240 tradeable instruments, including a number of currency pairs and various CFDs. Besides, 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. Besides, this client-centric broker created an array of ways to provide its clients with effective trading knowledge and education. 

 

Forex Time (FXTM) was established in 2011 when one of the co-founders of Alpari separated from the Russia-based broker and launched one of his own under the FXTM brand. Since then, the company has opened a number of offices around the world, and is believed to be one of the fastest growing brokers in the industry. The latest of them is FXTM London office which opened its doors in April this year in order to better serve clients in the UK and Europe. Besides, the company is regulated in multiple jurisdictions:

 

Company

Country

Regulation

ForexTime Limited

Cyprus

CySEC

ForexTime Limited

South Africa

FSB

FT Global Limited

Belize 

IFSC

ForexTime UK Limited

UK

FCA-registered

 

ForexTime Limited, doing business as FXTM, is licensed and regulated by the Cyprus Commodities and Exchange Commission (CySEC) as a Cypriot Investment Firm. Cypriot Investment Firm are required to hold at least €730 000 as a proof of financial stability. Client funds must be held in segregated accounts and regulated entities are required to report to the Commission on a regular basis.

 

Furthermore, CySEC applies a compensation scheme as an additional guarantee to clients’ funds. All CySEC-regulated companies are members of the Investor Compensation Fund, able to provide compensations to a maximum of 20,000 EUR per person in the event of broker insolvency.

 

As Cyprus is part of the European MiFID regulations, all CySEC regulated are free to operate in all EU Member States. In spite of this, 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.

 

What is more, FXTM (ForexTime Limited) is licensed by the Financial Services Board (FSB) of South Africa as a Financial Services Provider. The broker holds a category 1 license to act as an Intermediary in Securities and Instruments (Shares, Money market instruments, Bonds, Derivative instruments).

 

Trading platforms

 

As we have already mentioned, FXTM supports both MetaQuutes platforms: MT4 and MT5. The broker offers both of them as desktop, web and mobile versions (for iOS & Android devices) and makes regular updates.

 

In spite of the number of enhancements made to MT5 lately (and the final introduction of hedging on both desktop and web versions), MetaTrader 4 is still preferred by most brokers and experienced traders. It provides an advanced charting package, lots of technical indicators, extensive back-testing environment and a variety of Expert Advisors (EAs). Thanks to its ease of use, MT4 is also suitable for beginner traders, for they can also find their way around it quite easily.

 

MT4’s successor, MetaTrader 5, allows the execution of orders in several financial markets and stock exchanges through a single trading account. The platform features advanced charting package, trading and analysis tools, alerts, signals, and customizable indicators. Besides, MetaQuites has recently made many significant upgrades to it, such as adding a tool for analyzing exchange markets, news management improvement, and most importantly the hedging feature.

 

For clients who prefer automated trading strategies through Expert Advisors (EAs), FXTM offers a designated forex VPS service, and technical traders can take advantage of the Trading Central technical analysis tool – free of charge. Besides, FXTM offers advanced copy-trading solution, called FXTM Invest.

 

Promotions

FXTM regularly organizes various promotions and trading contests, as it strives to offer its clients the best trading opportunities and to empower their skills and knowledge.

 

At the time of writing this review FXTM offers Loyalty Cashback program, where traders can get $2 – $5 rebates per lot anyone who deposits $5 up to $10000, based on their deposit value. Meanwhile, new clients switching from another broker get $4 for every lot they trade.

 

In addition, the broker offers a Refer-a-friend bonus of $25 ONCE a referral becomes active.

 

Payment methods

 

FXTM offers various secure payment methods, including credit/debit card payments, Bank Wire transfers, and numerous E-wallets, such as Skrill, Neteller, Alsfa-Ckick, WebMoney, Western Union, Payza, dotpay, Yandex and Qiwi.

 

Conclusion

 

ForexTime is a global and award-winning broker with clients from over 180 countries. It offers a wide array of almost everything: tradable products, trading accounts & platforms, payment methods, execution types, you name it.

 

Pros  Cons
Well-regulated No major disadvantages
Variety of tradable products and trading accounts offered  
Tight ECN spreads
Low minimum initial deposit & commission fees  
High leverage levels offered  
Promotions available  

 

Country: Cyprus

Regulated by:  CySEC (Cyprus), IFSC (Belize)

Licensed by the Financial Services Board (FSB) of South Africa, with FSP No. 4661

Website: www.forextime.com 

Promotions: 

Loyalty cashback programme

Switch to ForexTime

 

WHY FXTM

✓ Regulated broker.

✓ Advanced risk management and segregation of client funds held in top-tier banks.

✓ SWAP-free option available. 

✓ Leverage up to 1:1000.

✓ Tight spreads starting from 0 pips.

✓ 120+ instruments including currency pairs, Spot Metals, CFDs on Commodity Futures, CFDs on ETF’s and Indices and Share CFDs.

✓  Variety of tailor-made account types to suit the needs of any type of trader. 

✓ Full feature trading platforms available on multiple desktop and mobile devices. 

✓ Various secure and trusted payment methods. Including credit/debit card payments, E-wallets and Bank Wire transfers. 

✓ Investment programs such as PAMM and FXTM Invest. 

✓ Regular Live and Demo Contests with amazing cash prizes (terms and conditions apply).

✓ Online forex courses and webinars for proper trader education.

✓ Local seminars held in different places around the world. 

✓ Daily in-depth fundamental analysis articles and videos.

✓ Customer Support team that speaks your language.

✓ Cutting edge mobile application to ensure you keep track of the markets at all times. 

Capital Index

Capital Index Review
Trader's rate 0
Editor's rate 3.6

 Trading Accounts

 

Account type Minimum deposit Minimum trade size Maximum leverage Avg. Spreads
Classic - 0.02 1:100 Fixed, 2 pips on EUR/USD
Advanced £100  0.02 1:200 Variable, 1.2 pips on EUR/USD
Pro £500 0.5 1:200 Variable, 0.9 pips on EUR/USD + $3.50 per lot

 

Clients of Capital Index have a choice of three main account types: Classic, Advanced and Pro. The Classic account is suitable for newbies, offering fixed spreads and micro lots for trade. The advance account is targeted at regular traders and such who are not willing to trade in high volumes. Experienced traders are offered a Pro account – the one with the tightest spreads, however Spread Trade and Spread Betting are not allowed.


What is more, Islamic accounts are also available to clients who don’t want to earn interest for religious reasons. These accounts are swap-free, offering variable spreads of 1.2 pips on EUR/USD, leverage of up to 1:200 and the minimum initial deposit is £100.


The Companies


There are two companies operating under the Capital Index brand: Capital Index (Cyprus) Limited and Capital Index (UK) Ltd. What is more, Capital Index Pty Ltd., a subsidiary of Capital Index (Cyprus) Limited operates in Australia under the trade name Capital Index Markets and is registered with ASIC. These entities form the Capital Index group, offering basically the same financial products and trading conditions.


The global online brokerage Capital Index specializes in CFDs, financial spread betting and spread trading on a range of financial instruments including foreign exchange (FX), commodities, indices and metals.


Security of Funds


Capital Index (Cyprus) Limited and Capital Index (UK) Ltd. are both duly authorized and regulated by the respective authorities. The Cyprus-based company is regulated as a Cyprus Investment Firm by the Cyprus Securities and Exchange Commission (CySEC) and Capital Index (UK) Ltd. is authorised and regulated by the Financial Conduct Authority (FCA).


Both FCA and CySEC are known as financial regulators, applying strict rules and supervision to licensed firms. To acquire a license from the UK financial watchdog, brokers have to prove their financial stability and to meet a number of requirements. For instance, clients` funds must be kept in segregated bank accounts, and regulated companies must hold a minimum of €730 000 to be considered financially stable.CySEC applies similar minimum capital requirements to Cyprus-based brokers: they are required to hold at least € 1 million.


Furthermore, both FCA and CySEC apply compensation schemes as additional guarantee to clients’ funds. FCA-regulated brokers in UK, are under the umbrella of the Financial Services Compensation Scheme, where the maximum compensation cover is £50,000 per person. Likewise, all CySEC-regulated companies are members of the Investor Compensation Fund, the fund of last resort for customers of authorized financial services firms. If any such company becomes insolvent or ceases trading, the fund is able to pay compensation to its covered clients, amounting to a maximum of 20,000 EUR.

 

Here is a list of more FCA-regulated brokers


Trading Conditions


Minimum Initial Deposit
Unlike most brokers, Capital Index does not require an initial deposit for opening a live account. In comparison, UK-based HY Markets demands $50 from its clients as a start; Forex.com, which is also FCA-regulated requires $250. So, in terms of minimum initial deposit, Capital Index gains competitive advantage.


Average Spreads & Commissions
This broker uses competitive spreads, both fixed and variable ones. Fixed ones, offered on the Classic commission-free account, amount to 2 pips on EUR/USD. Variable spreads, amounting to 0.9 pips on EUR/USD are available on the Pro account, but it also involves commission of $3.50 per lot on FX trades.


In comparison, FxPro (which is also both FCA and CySEC regulated) offers average spread of 1.4 pips on the EUR/USD for its commission-free accounts and average spreads as low as 0.4 pips on the EUR/USD for its cTrader accounts, charged $4.5 per standard lot.


Real-time spreads of 15 leading brokers may be viewed here


Maximum Leverage
Capital Index offers leverage up to 1:200, which is standard for the market, however most brokers provide higher levels in order to tempt traders by the opportunity of making striking profits on a small deposit. The reverse, however, is also true - the higher the leverage, the higher the risk of losses in excess of deposited funds.


In comparison, Cyprus-based FXTM offers 1:400 and Easy Forex 1:1000. You may look up more forex brokers offering leverage equal to or exceeding 1:500


Trading Platform


Capital Index offers the renown MetaTrader 4, delivering a wealth of information in a simple layout and, what is most important - allowing clients to automate their trades by Expert Advisors (EA) and let the program do all the work. This is one of the reasons this platform to be preferred by most traders. What is more, it offers a number of technical indicators, extensive back-testing environment and advanced charting package, including a trade-from-the-chart option. Here you may find a list of more forex brokers offering MT4 platform.


Welcome Bonus

In attempt to attract new clients, many brokers offer welcome bonuses. Capital Index provides a bonus on the first deposit ranging from 20% to 50% Up to $10 000.


Methods of Payment


Payment methods available with this broker include debit or credit card, bank transfer and Skrill. It also provides an extra withdrawal option – the Intercash Prepaid MasterCard. Here is a list of more brokers offering prepaid cards.


Conclusion


Capital Index is a well-regulated STP broker, specializing in CFDs that offers competitive trading conditions. To sum up the above, here are the advantages and disadvantages with regards to this brokerage:

 

Pros  Cons
Well-regulated (FCA & CySEC)  No choice of trading platforms
No initial deposit required  
MT4 available  
Competitive spreads offered