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FXTM

FXTM Review
Trader's rating 4.5
Editor's rating 5

Trading Accounts

 

Account type Minimum deposit   Minimum trade size Maximum leverage  Spreads (& Commission) Execution type
Cent  $10 0.01 1:500** from 1.5 pips  Instant
Standard  $100 0.01 1:500** from 1.3 pips Instant
ECN Zero.mt4 $200 0.01 1:500** from 1.5 pips  Market
ECN MT5 $500  0.01 1:500** from 0.2 pips + $2 / lot* Market
ECN $500  0.01 1:500** from 0.1 pips + $2 / lot* Market
PRO $25 000 0.01 1:500** from 0 pips Market

 

* Commission is calculated per standard lot of 100 000 currency base units (per side).
** Leverage depends on the country of residence, knowledge 
& experience of each Client.

 

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 swap-free (Islamic) trading, 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 $10, 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 account. The typical spreads on these accounts amount to 0.4 pips on EUR/USD and if we include the commission (2 x $2), average trading costs for this pair are around 0.8 pips per lot, which is a very attractive offer.

 

Maximum leverage

High leverage levels are available with Exinity Limited – up to 1:1000. The broker utilizes a floating leverage system. 

 

However under Forextime Limited this is maximum up to 1:30.

 

As regards cryptocurrencies CFDs (available only in Exinity Limited), the maximum leverage available is 1:10, as they tend to be more volatile than traditional fiat currencies.

 

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, various CFDs, as well as ctyptocurrencies. Keep in mind that trading CFDs on cryptocurrencies is only available under Exinity Limited.

 

Furthermore, 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

Exinity Limited

Mauritius

FSC

ForexTime UK Limited

UK

FCA

 

ForexTime Limited, doing business as FXTM, is licensed and regulated by some of the most reliable financial watchdogs worldwide - the Cyprus Commodities and Exchange Commission (CySEC) and UK's Financial Conduct Authority (FCA). Bothe governmental agencies require licensed companies to hold at least €730 000 as a proof of financial stability and to keep client funds must be held in segregated accounts and regulated entities are required to report to the Commission on a regular basis.

 

Furthermore, CySEC and  UK’s FCA apply compensation schemes 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. Clients of FCA-regulated brokers, on the other hand, are insured up to 50 000 GBP each.

 

As both Cyprus and UK are (still) part of the EU, MiFID regulations apply, allowing companies licensed in those countries to operate in all EU Member States. In spite of this, FXTM is officially registered with a number of other EU regulators: 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).

 

In line with CySEC proposiotions and ESMA guidelines introduced in 2016, FXTM announced it ensures that losses will never exceed the total available funds in client accounts. Actually, this means that the broker’s clients cannot lose more than they have deposited - a policy also known as negative balance protection.

 

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. These are mainly held by Exinity Limited where Terms & Conditions Apply.

 

At the time of writing this review Exinity Limited offers Loyalty Cashback program, where traders can get $2 – $5 rebates per lot anyone who deposits $10 up to $10000, based on their deposit value. Meanwhile, new clients switching from another broker get $4 for every lot they trade. (T&Cs apply)

 

In addition, Exinity Limited offers a Refer-a-friend bonus of $50 ONCE a referral becomes active (T&Cs apply).

 

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, Qiwi,and Baidu Pay. 

 

The above depends on your country of residence. 

 

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
Solid regulation (FCA, CySEC) No major disadvantages
Variety of tradable products (incl. cryptocurrencies in Exinity Limited only) and trading accounts offered  
Tight ECN spreads, low-cost trading
Low minimum initial deposit & commission fees  
Flexible leverage levels offered  
Negative Balance Protection  

 

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 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. 

Coinone

Coinone Review
Trader's rating 0
Editor's rating 4

Trading Accounts

  

Account type Leverage Trading fee Deposit Fee
Standard 1:4 0.10% None

 

Coinone is one of the major Korean cryptocurrency exchanges. If you are enthusiastic about blockchain technology, you should know a few things about them even if you don’t plan on trading with them. As you may know the trading activity on Korean exchanges has been relatively high in recent times and even determines the short term price swings.

 

Coinone Advantages

 

Established local player – Coinone has been around since 2014 and the team behind this exchange looks very solid. There aren’t any reports of a major hack at this exchange, which is not the case with one of their major competitors – Bithumb.

 

High level of Security – Security seems to be a top priority for Coinone, as the company includes multi-signature wallets, two-factor authentication  (2FA) and cold storage. While there is no 100% guarantee of future safety, these factors are nice.

 

Low Fees – The costs of trading at Coinone are very competitive, with the offers by other exchanges. With a 0.10% maximum fee (which goes even lower, if you trade bigger volumes) this exchange is one of the cheapest. As a comparison, Kraken, another otherwise solid exchange charges up to 0.26%. 

 

Korean Bank Transfers accepted – Coinone accepts fiat currency deposits, via bank transfer. That being said, only Korean bank accounts can be registered with this exchange.

 

>>Get Bitcoin with a credit card<<

 

No fees on deposits – Unlike most other exchanges, this one does not charge fees on deposits (regardless of the methods of payment). Most services accepting fiat currencies charge something in the 2-10% range. 

 

7 coins available – The current list of coins available at Coinone includes: BTC, BCH, ETH, ETC, XRP, QTUM and LTC. This may be more than enough for some users, but there are those who are willing to explore exotic digital assets. If you are looking for more altcoins, be sure to checkout Bittrex and Cryptopia.

 

Leverage is available – Unlike most exchanges, Coinone  offers margin trading, with a maximum leverage ratio of 1:4. That being said this involves borrowing coins from other traders. This can be a costly and tedious process, so if you are looking to speculatively trade Bitcoin a forex broker may be a better alternative.

 

>>Bitcoin forex brokers<< 

 

Trading with such a company usually allows even higher leverage, but may not be suitable for long term positions. Read more here.

 

Nice trading platform – The “Pro Charts” feature of Coinone is very nice, when compared to some of the other crypto-exchanges. Here is a preview (a live chat is also included, click to zoom-in):

 

 

 

Coinone Disadvantages

 

Focus on Korea – Dealing with this company if you are not Korean will be hard, or even impossible, as they require having a local bank account. It is technically possible, but you will have to go through a lot of hassle.

 

Trading only against KRW – While this exchange offers several altcoins they can’t be freely traded against one another. Some clients may even see this as a positive, but at the end of the day, having the ability to quickly convert one coin into another will be viewed highly by others.

 

Few negative user reviews – We couldn’t find many user reviews on this exchange in English, but there were a couple of complaints regarding slow payments.

 

Withdrawal fees – These are not the miner fees associated with a given blockchain, rather fees which go to Coinone. They aren’t that big, but will still annoy some users. Here is the breakdown:

 

 

 

Conclusion

 

Coinone is one of the leading Korean cryptocurrency exchanges. They have been around since 2014 and acts as an entry level service for locals. Additionally the company provides access to “Jikgu” payments (a term used for Koeran online shopping from other countries).

 

The actual exchange platform is rather well-designed, which is probably one of the contributing factors to this venue’s popularity. At the time of writing of this review, they are only surpassed by Bithumb, in terms of BTC/KRW trading volume.

 

That being said, Bitcoin trading is not regulated in Korea, so if you are looking for a safer alternative, you may try with a forex broker.

 

>>Trusted forex brokers, offering Bitcoin<<

 

While we review this exchange from an outsider’s point of view (as the company is heavily focused on the domestic market), we generally like what we see. Here is a summary of this exchange:

 

 

Pros Cons
Established local player Focus on Korea
High level of security Trading only against the KRW
Low fees Few negative user reviews
Korean Bank Transfers accepted Withdrawal fees
No fees on deposits  
7 coins available  
Leverage is available  
Nice trading platform  

 

Forex
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