When it comes to forex brokers, FXTM or ForexTime.com can be very well considered as the new kid on the block. Being in existence since 2011, this forex broker company can be well regarded as one of the fastest growing names in the industry. In such a short span, the company has bagged a number of industry awards which include �Best Newcomer 2013’ and �Fastest Growing Forex Broker’.
Founded by Andrey Dashin, the founder of online broker Alpari, the company is head quartered at Limassol, Cyprus and is owned and managed by FT Global Limited and ForexTime Limited. While FT Global Limited is licensed by the IFSC of Belize, ForexTime Limited is regulated by CySEC or Cyprus Securities and Exchange Commission. The company has its global footprint with offices in different countries like Germany, France, Poland, Spain, Turkey, Italy, China, India, South Korea, Malaysia, Thailand and Nigeria.
Types of account that is available
Just like any other player in the Forex market, FXTM also offers a plethora of account types to its customers. The different types of accounts which are available at ForexTime include the following.
Standard account – Available after a minimum deposit of $100, the standard account offers different types of assets which includes 14 spot CFDs, 5 spot metals and different currency pairs. The margin call for this type of account is 40%
Cent Account – If you are not willing to deposit the bulk amount of $100, Cent account will let you try your luck at trading with a deposit of just $5. The margin call for the Cent account is 60%.
Shares Account – If you prefer stocks over assets while trading, the Shares Account is the right thing for you. Also referred to as PAMM account, the shares account type offers a margin call at 40%.
ECN Zero account – With a minimum deposit of $100, the ECN Zero account type lets you become the portfolio manager for other users. The margin call for this type of account is at 80%.
Apart from the ones mentioned above, some of the other account types available at FXTM include FXTM ECN, FXTM MT5 ECN account and the FXTM Pro account.
MetaTrader 4 or MetaTrader 5 are the platforms available for trading at ForexTime. These platforms can be used either by downloading or on the web as well. Mobile versions of the platforms can also be installed on mobile phones and tablet PCs.
Deposit and Withdrawal options
To make the life of its traders simple, FXTM offers a wide variety of deposit and withdrawal options. The available options include VISA, Master Card, Maestro, Neteller, Alfa Click, Skrill, Yandax Money, Dotpay, Payza, QIWI, Western Union’s Quickpay and China Union Pay Credit Cards. The company also allows bank wire transfers to its customers as well.
Pros and Cons of ForexTime
Needless to say, every coin has two sides. While the pros of FXTM would include the tight spreads, PAMM account and high leverages, the cons would definitely be the fact that it does not accepts traders from the US, Japan, British Columbia and a few more countries.
With different account types, various supported platforms and easy deposit and withdrawal options, FXTM is certainly all set to give its customers a seamless and incomparable broking service. The company understands the needs of the traders well which has made it grow so fast and claim its name in the world of forex trading.