de | cn | ru
  VS.    

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 1:1000** from 1.5 pips  Instant
Standard  $100 0.01 1:1000** from 1.3 pips Instant
ECN Zero.mt4 $200 0.01 1:1000** from 1.5 pips  Market
ECN MT5 $500  0.01 1:1000** from 0.2 pips + $2 / lot* Market
ECN $500  0.01 1:1000** from 0.1 pips + $2 / lot* Market
PRO $25 000 0.01 1:1000** 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 and Forextime UK 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

FSCA

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 Sector Conduct Authority (FSCA) 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. 

easyMarkets

easyMarkets Review
Trader's rating 5
Editor's rating 3

Trading Accounts

  

Account type   Minimum deposit  Minimum trade size Maximum leverage Spreads
Standard $100 0.05 1:400 3 pips*
VIP $5000 0.1 1:400 1 pip

 

*Those Standard account holders who deposit $250 or more, get VIP spreads.

 

easyMarkets offers its clients two trading accounts to choose from, available on two platforms – the good old MetaTrader 4 and the broker’s proprietary web-based platform. Both account types offer commission-free trading, fixed spreads and leverage up to 1:400. Micro lots are available for trade only to Standard account holders.

 

There are a number of features available solely to VIP account holders, such as Personal Market Analyst, Loyalty Rebates, Express Withdrawals, Free trading signals, Free Breaking news, SMS Alerts, etc.

 

If you don’t need such extras or simply don’t want to invest 5 thousand bucks, you can get VIP spreads on your Standard account by depositing $250.

 

Islamic (swap-free) accounts compliant with the Sharia law are also available to clients who don’t want to earn interest for religious reasons.

 

The Company. Security of Funds

 

Company

Country

Regulation

Easy Forex Trading Ltd.

Cyprus

CySEC

EasyMarkets PTY Ltd.

Australia

ASIC

 

easyMarkets (previously Easy-Forex) is the trading name of Easy Forex Trading Ltd. – a Cyprus-based brokerage, established back in 2003. It provides its services in over 160 countries worldwide, offering trading in 175 products ranging from currencies, CFDs on indices commodities, metals and Bitcoin, as well as options and forward contracts. 

 

Easy Forex Trading Ltd, doing business as easyMarkets, is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC, license No 079/07), and its Australian subsidiary - EasyMarkets PTY Ltd. - is authorized and regulated by the Australian Securities and Investment Commission (ASIC).


CySEC applies certain rules to license holders, one of them being the requirement such firms to hold a minimum capital in order to conduct their business operations legitimately. The Commission requires Cyprus-based forex brokers to hold at least €730 000. As regulation of financial services providers usually involves such a requirement, Australian brokers are obliged to hold a minimum of $1,000,000 by ASIC.


Furthermore, the Cypriot financial watchdog applies a compensation scheme as additional guarantee to clients’ funds. All CySEC-regulated companies are members of the Investor Compensation Fund, the compensation fund of last resort for customers of authorized financial services firms. If the Company becomes insolvent or ceases trading, it is able to pay compensation to its covered clients, amounting to a maximum of 20,000 EUR.


Unlike many other EU-based brokers, Australian ones are not covered by any compensation scheme.

 

Focus on client protection 

 

 

 

 

easyMarkets is a broker that places a special focus on client protection. Apart from offering tight fixed spreads, which do not widen during news releases, easyMarkets is one of the few brokers that provide Negative Balance Protection. This means that you can never lose more funds than you have deposited, even though you are trading on margin.

 

Besides, it allows forex traders to cancel losing trades via its state-of-the-art feature dealCancellation, available on its in-house platform.

 

Trading Conditions

  

Minimum initial deposit

In order to open an account with easyMarkets, one has to deposit at least $100, which is a reasonable and competitive minimum initial deposit.

 

Spreads & Commissions

This broker offers fixed spreads, which allows traders to predetermine their costs. What is more, no commission fees are charged, as the broker generates revenues through the bid-ask spread paid by traders on each transaction.

 

Although fixed spreads generally tend to be wider that variable ones, this is not the case with easyMarkets – their spreads amount to 1 pips on EUR/USD and are accessible with a deposit of $250. In comparison, Exness and Plus500 (also regulated by CySEC) offer fixed spreads amounting to 2 pips for this currency pair.

 

Leverage

The maximum leverage level offered by this broker is 1:400, which is considered comparatively high, as CySEC has recently proposed the default leverage provided by brokers to be 1:50. The reason for such leverage limitations is that higher leverage involves higher risk of heavy losses. Nonetheless, many Cyprus-based brokers offer high leverage levels: XM – up to 1:888, FXTM – up to 1:500.

 

Trading Platforms

 

Clients of easyMarkets may choose from the broker’s proprietary web-based platform and the popular Metatrader 4 (MT4).

 

easyMarkets’ in-house platform offers advanced charts, live market news, technical analysis and sentiment all in one screen, one click trading (from the Market Explorer).

 

What is more, platform users get free Guaranteed stop loss and dealCancellation option, which are indeed two great risk management tools.

 

 

easyMarkets’ in-house web platform. Click to enlarge

 

 

In addition, easyMarkets offers the powerful MT4, allowing traders to fully automate their operations by choosing from a wide range of 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. Besides, it offers a number of useful technical indicators, extensive back-testing and advanced charting package, which includes the option to trade straight from the chart. Here is a list of more forex brokers offering MT4 platform.

 

Bonuses & Promotions

By the time of writing this review, there are two promotions offered (effective until March 31, 2016)

-        - First deposit bonus on initial deposit ranging from 30% to 50% (up to $2 000);

-         - Refer-a-friend bonus from $25 to $500 for new clients who deposit at least $250. 

 

Methods of Payment

 

easyMarkets offers a variety of payment methods, including credit cards (Visa, Mastercard, Maestro, Visa electron), bank transfer and e-wallet systems, such as, Skrill, Neteller, WebMoney, SoFortüberweisung, American Express, Giropay, Ideal and UnionPay.

 

For withdrawals to credit/debit cards and eWallets there is no minimum withdrawal amount. For withdrawals to bank accounts, a minimum amount of USD 50 is required. All deposits and withdrawals with easyMarkets are commission-free.

 

Conclusion

 

easyMarkets is a well-regulated broker that offers trading in wide range of financial products products worldwide through both its proprietary platforms and the industry’s standard MT4. This is a broker that places a special focus on client protection. To sum up the above, here are the advantages and drawbacks with regards to this broker: 

  

 

Pros

Cons

Well-regulated

No significant disadvantages

Tight fixed spreads, no commission fees

 

Variety of trading platforms offered, MT4 available

 

Negative balance protection, option to cancel losing trades

 

Promotions available

 

 

Headquarters: P.O.Box 53742, Limassol 3317
 

Country: Cyprus

 

Regulated by: CySEC – License Number 079/07

de | cn | ru