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CySEC, FSB, IFSC
Its Forex Time! And time is money, you’ve got to invest it wisely. This is what FXTM brokerage tells on its homepage. However, it is really a wise move to invest your money with this company? Let’s conduct a detailed background check on this broker to see if this is the company that is worth your time.
The true history of FXTM
When we are searching Web Archive for the www.forextime.com domain, we see that it has been established in the year 2011 and in 2012 the broker has been licensed by the Cyprus Securities and Exchange Commission. What is special about this year? Well, nearly the same time Alpari (a Russian-based brokerage) has closed its CySEC-regulated entity. This is not a coincidence, the truth is that Alpari and FXTM belongs to the same person – Andrey Dashin.
We are going to leave it up to you to decide whether it is good or bad. Just be aware of this fact.
Considering the fact that Alpari is a leading Russian brokerage, FXTM has borrowed quite many useful items from its older brother. Let’s examine the basics and the most useful features.
When you visit www.forextime.com, you feel that the brokerage is legitimate. Unlike many newcomers and scams, FXTM hosts tons of useful pages, various promotions, a huge educational library, and daily analyses.
It also very good looking and easy to navigate. It does seem that the company has invested quite a lot in it, and this makes us feel that the brokerage will not simply disappear with the client deposits.
FXTM branding and sponsorships
We all known that Cyprus in the World’s capital of the retail FX sector, and this is the country where FXTM is headquartered. If you have ever been to Limassol, you are very likely to recognize the company due to its promotion of the local bike sharing service – nextbike.
In addition to this, they employs so many people that it actually had to establish its own building – the FXTM tower, located at Lamprou Konstantara 35, Kato Polemidia, Cyprus.
This gives us an additional trust at the brokerage – in case something goes wrong, you at least know which door to knock. Sadly, this is a rarity in the FX sector, but it is certainly an advantage of FXTM.
One of the thing that this broker has borrowed from its bigger brother (Alpari) is the sponsorship. Currently, FXTM sponsors a few racing teams and a tennis champion Dominika Cibulková.
FXTM Trading Accounts
Well, all of the sponsorships and connections to bigger brokers certainly sound good, but this is not what the brokerage is all about. Let’s dive in deeper in their actual offer.
FXTM gives you access to an impressive number of trading accounts, and they vary between Standard (Instant Execution) and the ECN Accounts (Obviously, ECN Execution).
While the accounts do not differ substantially from one another, each of them comes with a unique feature (e.g. MT5 platform), and this way a trader can choose the best-fitting option.
The spreads and commissions are actually quite attractive and put them in the list of the brokers with the most favorable conditions.
Historically, FXTM has been running quite many trading contests, but it does not seem that there are any available at this point in time. We are not sure whether it is a company decision or a result of a new CySEC policy. However, you may still participate in the their loyalty program – a tool that lets you benefit from the spread rebates, and the more you trade, the larger the rebate is.
FXTM Review Conclusion
The brokerage has been around for over 6 years and so far it has unstained reputation. Besides that, it provides a great user experience, tons of useful materials, and a loyalty program. Finally, it offers some amazing trading conditions and a wide choice of trading accounts.