|Account type||Minimum deposit||Minimum trade size||Maximum leverage||Average Spreads||Execution type|
|ECN Zero.mt4||$200||0.01||1:500||1.7 pips||Market|
|ECN MT5||$500||0.01||1:500||1.9 pips + commission $2*||Market|
|ECN||$500||0.01||1:500||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).
** Leverage depends on the knowledge and 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 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.
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.
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.
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:
FT Global Limited
ForexTime UK Limited
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).
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.
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.
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.
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.
|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|
Regulated by: CySEC (Cyprus), IFSC (Belize)
Licensed by the Financial Services Board (FSB) of South Africa, with FSP No. 4661
✓ 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.
|Account type/Platform||Minimum deposit||Min. trade size||Maximum leverage||Average Spreads||Execution Type||Swap-free|
|MT4.FIX||$1||0.01||1:1000||Fixed, 2 pips on EUR/USD||Instant||Yes|
|MT4.VAR||$1||0.01||1:1000||1.4 pips on EUR/USD||Market||Yes|
|MT4.ECN||$100||0.01||1:1000||0.5 pips on EUR/USD + commission $2.5 - $3.0 per lot||Market||No|
|CT.ECN||$50||0.01||1:500||0.5 pips on EUR/USD + commission $2.5 - $3.0 per lot||Market||No|
Trader’s Way offers its clients a selection of account types to make sure traders of all skill level and preferences are well taken care of. There are 2 ECN account types available on two different trading platforms, offering tight spreads with small commission fees.
Besides, there are two MT4 commission-free accounts with no minimum deposit requirement, one of which offers fixed and the other one, variable spreads. Swap-free service is available on both commission-free accounts to clients of Islamic belief who are not willing to earn interest for religious reasons.
Founded in 2010, Trader’s Way is an offshore broker trading in a wide range of currency pairs and CFDs on MetaTrader 4 and cTrader.
Trader’s Way is the trading name of a company, registered in the Commonwealth of Dominica, an island country located in the Caribbean Sea. The Dominica has a wide range of offshore services and with the passing of the International Business Companies (IBC) Act in 1996 it has become an attractive location for offshore company formations. There are certain international banking regulations to which all companies operating out of Dominica are bound, however, forex businesses are not regulated at this time.
While it is true that no regulation can protect you from dealing manipulation, misuse of client money, or company bankruptcy and no regulation can guarantee the funds in your pocket or trading account, there are certain states which strive to put some certainty in the decentralized FX market in their jurisdiction. Money rules and minimum capital requirements are set in the US, Japan, Australia, UK, Cyprus, among others. Brokers in these countries are required to report all trades and to comply with various procedures. What is more, in many of them apply compensation schemes which protect client funds in the event of broker insolvency.
To put it simply, if you choose to open an account with an offshore broker, your funds are far from safe. So, if you intend to invest a large amount of money, we would advise you to select among brokers regulated by the respective authorities in the abovementioned states.
We have to point out that despite the above said, Trader’s Way has more than 6 years of experience on the forex market and has won a reputation of a reliable broker, who strives to provide maximum transparency and security in both its own and clients’ activities.
The broker states on its website that it keeps client funds and company money separate and that it employs strict AML and KYC policies to support international efforts against money laundering and inappropriate usage of funds.
Minimum Initial Deposit
There is no minimum initial deposit with Trader’s Way, which makes this broker quite attractive and accessible for all kinds of traders. Most offshore brokers do not require high initial amounts, which is reasonable, considering the light touch regulation, if any. LiteForex, for instance, a popular broker registered on the Marshall Islands, requires just $10 from traders as a start.
Average Spreads & Commissions
This broker offers both variable and fixed spreads. Fixed and floating spreads offered on its commission-free accounts are both average, as fixed ones are 2 pips and the broker quotes as typical variable spreads of 1.4 pips for the EUR/USD pair. In comparison, ForexBrokerInc offers variable spreads from 1 pips on its commission-free accounts.
As regards Trader’s Way ECN accounts (accessible with just $100/$50), the spreads offered are tighter and quite competitive, averaged 0.5 on EUR/USD, and a small commission applies, ranging from $2.5 to $3. This basically means that the average trading costs amount to around 1 pips, commission included.
For further information, you may look up and compare real-time spreads of 15 leading brokers can be checked out here.
The maximum leverage rates at Trader’s Way are very high, reaching 1:1000. In comparison, SVG-based OctaFX and ForexBrokerInc both offer leverage up to 1:500. More forex brokers offering leverage equal to or exceeding 1:500 can be viewed here.
Traders, however, should be aware of all the risks associated with trading on margin – higher leverage levels may lead to heavy losses, exceeding initial investments. That is why many jurisdictions set limitations on leverage, which are considerably lower, for instance 1:50 in USA and 1:25 in Japan.
Trader’s Way offers its services on two of the most popular platforms among traders - MetaTrader 4 (MT4) and cTrader and multiple auto trading solutions.
cTrader is an award-winning multi-asset trading platform designed especially for ECN trading. Fast order entry and execution speeds, direct order entry via charts and Level II pricing are just some of the reasons why many traders today choose cTrader as their go-to platform. The Trader’s Way cTrader suite includes a PC, web and mobile versions, as well as cMirror and cAlgo. cMirror is a mirror & social trading application, which works with all cTrader accounts and is Broker agnostic, which means a trader can copy any signal provider, regardless of whether they both reside with different brokers within the cTrader ecosystem.
cAlgo delivers powerful, fast and reliable automated trading in an easy to use, coding-friendly environment for developing and testing your own robots and custom indicators.
In addition, Trader’s Way supports the popular trading platform MetaTrader 4, desktop, web and mobile versions available.
MetaTrader 4 is preferred by most experienced traders, because it is equipped with an advanced charting package, a number of technical indicators, Expert Advisors (EA) and extensive back-testing environment. MT4 also provides a built-in social trading service - Trading Signals. Using this service, you can copy deals of other traders directly in your terminal. Here is a list of more forex brokers offering MT4 platform.
In addition, Trader’s Way has partnered with Myfxbook and FxStat to provide yet more auto trading options.
Of course, this broker offers high quality VPS Hosting Service. Access to Trader’s Way remote server ensures that your robots, Expert Advisors (EAs) and scripts function continuously and without interruption, even if your computer is switched off.
Bonuses & Rebates
Trader’s Way offers various promotions, such as:
- Welcome on deposit bonus of 100%, limited by $5,000, which cannot be withdrawn;
- Access to the MT4 ECN account with just $10 instead of $100.
Clients of Trader’s Way are offered a variety of The following payment modes to choose from: credit cards, bank wire transfers, and the following e-wallets: Skrill, Neteller, Perfect Money, WebMoney, QIWI, MonetaRU, EasyPay, Boletto, cashU and others.
Trader’s Way is a reputable offshore broker, offering competitive conditions for trading in various currency pairs and CFDs on the MT4 and cTrader platforms. Its main disadvantage is lack of regulation. To sum up the above:
|Choice of platforms, MT4 available||Not regulated|
|No minimum initial deposit for commission-free accounts|
|Access to ECN environment for just $10|
|Competitive ECN spreads & low commission fees|
|High leverage levels offered|
Country: The Commonwealth of Dominica