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Forex
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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  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 1:1000 0.4 pips Market

 

* Commission is calculated per standard lot of 100 000 currency base units (per side).
** Leverage depends on the country of residence & knowledge 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 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 1:500. However, in order to control the risk associated with it, the broker utilizes a floating leverage system. 

 

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. 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).

 

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.

 

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, Qiwi,and Baidu Pay.

 

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  
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 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. 

Grand Capital

Grand Capital Review
Trader's rate 0
Editor's rate 4.9

Basic Information

 

Minimum deposit  Min./Maxbet size Payout % Bonus  Trading platform Regulation  Online since
$10 $1/$5,000 Up to 86% - MetaTrader 4 FinaCom  2006

 

Grand Capital (www.grandcapital.net) is an award-winning binary options broker, offering trading in most popular assets on the widely used MetaTrader 4 platform under pretty good trading conditions.


It also offers trading in forex and various CFDs and provides a few different programs for affiliate partners. In fact, Grand Capital was recently included in the rating of the best affiliate program provider in Russia, published by International Trading Academy MasterForex-V.


Unlike most binaries broker, this one does not provide a rich educational package, however it offers a LAMM service, that allows novice traders to connect their account to an experienced trader’s account and learn how to trade Binary Options successfully.


What is more, LAMM clients are able to control over every deal the manager makes, so they can disconnect or cancel the trade at any time.


Trading Accounts


Grand Capital offers its clients a single account to trade in two types of binary options: American and European.


The American options allow early closure with % commission. European Options do not support Early Closure feature, but offer higher return rates.


The Company. Security of Funds


A professional brokerage firm that is originally from Russia, Grand Capital is in trading business since 2006. It is owned by Grand Capital ltd, a company registered in the Seychelles and regulated by the Financial Commission (FinaCom), a Hong Kong-based external dispute resolution (EDR) organization.


The FinaCom is an EDR organization which acts as a neutral third party in disputes in the forex and binary options markets between its members and their clients. Its compensation fund covers judgments up to $5,000 or $10,000 per client, depending on the regulated company’s type of license.


Grand Capital holds a B-Category license and any client of such company can be eligible for a compensation of up to $5000.


Trading Conditions


Trading Options: Call/Put, Double touch, Breakout
Assets: Currencies, Indices, Commodities
Expiry Times: 1 min, 30 min, 2880 min

 

Grand Capital offers two specific binary options: Double Touch and Breakout Options. Bear in mind that these are only available for European Options.


When trading Double Touch options, you need to set two levels the asset’s price will reach. In other words, you set the channel where the price will fluctuate.


Breakout Options give you an opportunity to get increased payout for trading the same assets. Set the price you think the asset will reach in the future and the timeframe for its fall/increase and get increased payout if your prediction is correct.


Unlike many other binary brokers, Grand Capital does not offer 30 sec options, nor pair or ladder options.


Minimum Initial Deposit

In order to open a binary account with Grand Capital, one has to pay just $10. In comparison, SVG-registered BinaryBook requires $250 from traders to sign up.


Min/Max bet size
The minimum bet size with this broker is symbolically low, amounting to $1. Such low minimum bet sizes allow for better risk management. Most brokers require more, for instance, with BinaryBook one can place a trade with no less than $25.


Payout amount

Depending on the Trading Options and expiry times, payout percentage offered by Grand Capital ranges from 40% to 86%, which is a good offer for the binary options market. For instance, a winning European Put/Call option for EUR/USD with expiry from 15 to 30 min will get you a payout of 71% (+2% bonus). Of course, the greater the percentage payout offered by the broker, the larger the return of traders. 


In comparison, BinaryBook`s Return percentage varies from 71% to 81%.


Trading Platform


Grand Capital uses MetaTrader 4 platform, the most popular software for professional trading that is used by traders worldwide. There are also iPhone and Android apps available, as well as a web-version. The platform is highly reliable and easy to use and that’s why it is supported by so many brokers.

 

Promotions
Instead of attracting new clients with attractive On-Deposit Bonus, Grand Capital offers risk-free trading.


If you had an unlucky trading day, you may claim full compensation of the loss up to $10 000. To receive the compensation, the client must deposit to Option account at least once during this month. The client can choose any trading day for loss compensation. However, the request cannot be filed later than the 31st day from the moment of the loss taken. The whole amount will be granted to his/her account as a bonus.


There is also a "refer to a friend" program, but the most lucrative offer - $500 No Deposit Bonus is available to forex traders only.
The broker frequently launches various promotions and contest. For example in July its clients were able to get compensation up to 13% of losses for options with expiration time from 5 to 15 minutes for certain instruments.


Methods of Payment


Grand Capital’ clients are offered an array of payment methods: Wire Transfer, Credit/Debit card Maestro or Credit Card (Visa, MasterCard) and e-wallets, such as Skrill, Neteller, PAYEER, Perfect Money, FasaPay, WebMoney, OKPay, Moneta.Ru, RegularPay, China UnionPay, and others.


This broker is one of the few that accepts bitcoin cryptocurrency.


Conclusion


Grand Capital is a reputable broker, offering competitive conditions for trading in binaries on the MT4 platform. To sum up the above, here are the advantages and drawbacks in relation to this broker:

 

Pros  Cons
Award-winning regulated broker with 10 years of experience  No signup bonus
Low minimum bet size & initial deposit  
Early closure available   
Account management service available   

 

Forex
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