Independent Review Forextime

Founded in 2011
Headquarters in Cyprus

Introduction and Comments


The Forextime broker, better known in trading circles as FXTM, was launched in 2011 by Andrey Dashin, one of the key founders of the Alpari forex brand. In the 9 years since its launch FXTM has expanded its operations dramatically, launching three different brands to focus more specifically on different markets. Clearly what the broker has been doing is working as they have received numerous awards over the years, and have become a leader in their industry.

The FXTM brand is in 3 jurisdictions, operated by the following three companies:

  • Exinity Limited (Regulated by FSC of The Republic of Mauritius).
  • ForexTime UK Limited (Regulated by the FCA of the UK).
  • Forextime Ltd (Regulated by CySEC and licensed by FSCA of South Africa)

A review of the press releases from the company and of online reviews shows a company that continues to go from strength to strength, continually improving and scoring new achievements. All of this has been built on the transparency, innovation, and integrity of the broker. There is an obvious focus on providing a superior trading experience, and even independent traders and reviewers have given high marks to FXTM.

The broker was a Metatrader platform broker for many years, but recently they’ve launched their proprietary FXTM Trader platform, which is a technologically advanced mobile trading application for Android and iOS devices.

Clients can choose from six different account types, as well as a demo account. This gives unparalleled flexibility for every level of trader. The broker also offers social trading through the FXTM Invest platform.

Quick Look

As we do when possible we set up a demo account at the broker in order to test their platform response time, and the features included. Setting up a demo account at FXTM took less than a minute, although a real account could take substantially longer due to the KYC/AML regulations.

We found the offerings at the broker to be comprehensive, and traders of all levels of experience will find all they need when trading here. The website is easy to navigate, the Metatrader platforms are outstanding, and the new FXTM mobile platform was quite impressive. Plus the website is available in 18 languages, and Forextime offers ECN trading.

In addition to all this is the FXTM Pro account, which is specifically made for professional traders and institutions. And FXTM has remained at the forefront of trading evolution, offering its FXTM platform for clients to take advantage of social trading.

We liked that the broker holds true to its values of transparency and integrity by publishing trading stats such as requites and slippage, and speed of order execution. Clients can also find educational materials, market commentary and analysis, and technical charting tools. Add in an excellent customer service team and occasional promotions and contests and you’ll find it difficult to locate any areas in which Forextime lacks.

With all the offerings and levels of access to the market it is pretty apparent that FXTM is a broker for any level trader, from beginners to professionals.

The rest of the review will focus on the details of the broker and will help you decide if they are suitable for your own trading.

Forextime Regulations& Licenses


Forextime has a high level of regulatory oversight as it is based in three different countries with regulation in all three jurisdictions.

  • Forextime Limited ( is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12.
  • It is also licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614.
  • Forextime Ltd. is also registered with the Financial Conduct Authority of the UK with number 600475.
  • Exinity Limited ( is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295.
  • Forextime UK Limited ( is authorized and regulated by the Financial Conduct Authority, firm reference number 777911.


The Forextime website is offered in 18 different languages and support is provided in each language as well. This is important as this is a global broker, and the wide variety of languages supported shows the commitment to traders and clients.

Account types

Retail Trader Accounts

There are six account types that are offered at Forextime. These accounts come as two different types. The first three accounts are considered Standard accounts, and the other three are ECN Accounts, which use an ECN execution model. The primary difference between the two types is in the execution costs, as you’ll see below as we go into more details regarding the features of each account type.

Forextime Accounts

Standard Account: This basic account type requires a minimum deposit of $100, which can be in USD, GBP, EUR, or Nigerian Naira. The account uses a floating spread model, with the average spread on the EUR/USD pair being 2 pips. Standard account holders can choose between the Metatrader 4 or Metatrader 5 platform. Note that with MT4 there are no swap fees, but with MT5 there are. Leverage is floating and can go as high as 2000:1, and this account type has access to currency pairs (59), metals (5), CFDs (14) and cryptocurrencies (4) on MT4, and only currency pairs (33) and metals (2) on MT5. The minimum trade is 0.01 lots, while the maximum trade is 30 lots.

Cent Account: This account is quite similar to the Standard Account, but it requires a lower minimum deposit of $10. It has the same currencies available (USD, GBP, EUR, NRN) and uses variable spreads, although in this case the EUR/USD spread averages 2.2 pips. The only platform available in the Cent account is Metatrader 4, and there are no swaps for the account. Account holders can trade currency pairs (25) and metals (2). There is a minimum trade size of 0.01 lots and a maximum trade size of 1 lot, and the maximum leverage available is 1000:1.

Shares Account: The final standard account type is the shares account, which is used for trading CFDs of U.S. and European equities. Over 120 different U.S. shares and over 40 European shares can be traded as CFDs. The account requires a minimum $100 deposit and is available in the same base currencies as the previous two account types. Leverage is fixed at 10:1 for U.S. shares and 3:1 for European shares. Only the Metatrader 4 platform can be used. Spreads start at just 0.1 pips, and the minimum trade is 0.01 lots, while the maximum trade is 10 lots.

Up next are the three ECN account types. All of these use the same base currencies as previously mentioned, and all three are available for both Metatrader 4 and Metatrader 5. In the case of MT4 accounts there are no swaps, while the MT5 accounts do use swaps. The benefit of the ECN accounts is that typically execution charges will be lower, however during periods of extreme market volatility prices (and costs) may fluctuate wildly.

Forextime ECN Zero Account

ECN Zero Account: This is the starting level ECN account, with a minimum deposit of just $200. There are no commissions and floating spreads start as low as 1.5 pips, all of which makes it hard to see why this is classified as an ECN account, where spreads are normally approaching zero and commissions are charged. In any case, MT4 traders can access 48 currency pairs, 3 metals, and 14 CFDs, while MT5 traders can access 33 currency pairs and 2 metals only. Leverage goes as high as 2000:1, the minimum trade is 0.01 lots and the maximum trade is 100 lots. This account also has access to FXTM Invest, allowing traders to become Strategy managers.

ECN Account: The mid-level ECN account has a $500 minimum deposit, with a variable floating spread that starts at 0.1 pips. There is also a $2 round trip per lot commission charged. MT4 traders can access 48 currency pairs, 3 metals, and 14 CFDs, while MT5 traders can access 33 currency pairs and 2 metals. Leverage on this account goes up to 2000:1, the minimum trade is 0.01 lots and the maximum trade is 100 lots. This account also has access to FXTM Invest, allowing traders to become Strategy Managers.

FXTM Pro Account: This is the top tier trading account, and it comes with a massive minimum deposit of $25,000. For that you get spreads that can go as low as zero and no commissions. MT4 traders get access to 43 different currency pairs and 2 metals, while MT5 traders can access 33 currency pairs, 2 metals, and 10 major equities. The leverage on the account is limited to 200:1, and the minimum trade size is 0.01 lots while the maximum trade size is 250 lots. Oddly enough this account type does not have access to FXTM Invest.

In addition to the features mentioned above, all the account types are permitted to use scalping and hedging, as well as automated trading through Expert Advisors. FXTM does not block any of the third-party automated tools that have been created for MT4 and MT5.

Demo Account

Demo accounts are freely available at FXTM, allowing anyone to practice trading and risk management strategies. Registering a demo account will take most people less than a minute, making it a quick and easy process to test the trading at Forextime before committing to a real money account.

Fees, Costs & Spreads

The account types above have covered most of the fees, costs, and spreads associated with trading at FXTM. To recap, minimum deposits at the broker range from $10 for the Cent Account to $25,000 for the Pro Account. Spreads range from 2.2 pips to 0 pips, and commissions are non-existent for most account types, although the ECN Account has a $2 round trip per lot commission.

Deposits & Withdrawals

Forextime offers a huge number of deposit and withdrawal options, from bank transfers and credit/debit cards to more than a dozen e-wallets and over 30 local options. There are no fees for any of the deposit methods, while the processing time varies from instant for credit/debit cards and some e-wallets to as long as 5 business days for bank transfers.

Withdrawals can be made to the same sources as deposits, and in nearly all cases the processing time for the withdrawals is 24 hours. That does not include any potential processing time on the side of the financial companies. There are also fees associated with withdrawals, which vary based on the withdrawal method.

Bank transfers will incur a fee of 30 EUR. E-wallet charges range from nothing for the likes of Neteller and Skrill to as much as 2% for WebMoney and Konnexone. Credit cards have a fee of 3 USD / 2 GBP / 2 EUR, while China Union Pay is free. Local withdrawal methods also have various fees ranging from free to 2%.

In all cases you can only deposit from and withdraw to an account that is in your name.

Forextime Trading Platforms

As mentioned earlier in the review FXTM offers the MetaTrader 4 and MetaTrader 5 platforms and has also recently introduced their own mobile trading app called FXTM Trader. The combination of the award-winning Metatrader platforms, and the technologically advanced FXTM mobile platform brings the functionality and features that will serve nearly any trader, from rank beginners to seasoned professionals.

Both MT4 and MT5 are available as desktop programs, a web-based application, and mobile apps for both Android and iOS. Any experienced traders have likely had some experience with either MT4 or MT5, and in the main the two versions are identical. The primary difference is that MT5 has been developed to adhere to U.S. hedging rules, which basically means that hedging is not possible with MT5. Traders also agree that MT4 is best for forex trading, while MT5 excels for stock and commodity trading.

Mobile App

While traders do still have access to the MT4 and MT5 mobile applications, Forextime has recently released its own mobile trading app called FXTM Trader. This new app is technologically advanced and allows trading for more than 250 assets right from the palm of the hand, anywhere there’s internet access. That includes currency pairs, spot metals markets, CFDs in over 180 shares, CFDs on commodities, CFDs on indices, and CFDs on cryptocurrencies.

Forextime Mobile App

This new app is incredibly fast when we tested it, and while it doesn’t include all the indicators and technical analysis capabilities of the Metatrader platforms, it does give clients complete access to their myFXTM account, allowing them to open new positions, close existing trades, make deposits and withdrawals, or simply keep track of their trades while on the go.

Forextime Additional Platforms

There is an additional trading platform known as FXTM Invest that was recently added at Forextime. It is a social trading platform and allows clients to either copy the trades of others, or to become Strategy Managers themselves. One note is that Strategy Manager access to FXTM Invest is only granted to clients holding ECN Zero and ECN Standard accounts.

Strategy Managers in the FXTM Invest program can earn as much as 50% of the profits those who follow them generate. That makes the program quite lucrative for those who can consistently provide others with solid trades.

On the other side of the program, FXTM Invest allows those who have little trading experience, or little time for research, to copy the trades of successful investors.

The broker also provides an updated list of the top performing Strategy Managers, which is helpful when looking for a trader to copy with similar goals to your own.

Forextime Additional Platforms

The list of traders includes their return %, the number of days they’ve been listed as a Strategy Manager, the number of followers, the value of capital they’re managing, and a risk assessment expressed as a number from 1-5, with 1 being least risky and 5 being most risky.

Clicking on a Strategy Manager gives more details regarding the trader, including the leverage they use, how much profit they take, drawdown, average win and loss, and return by a number of time frames. There are also plenty of charts for those who prefer a visual representation of the managers investing returns.

Each Strategy Manager’s results are audited daily to ensure the results shown are accurate.

We found the FXTM Invest platform to be an excellent addition, especially for those willing to do their research to pick suitable managers.

Assets Available

There are over 250 different assets available at FXTM, but access to them depends on which type of account a client is using, and which platform the client is using. In general, the Metatrader 4 platform and the FXTM Trader mobile app give the best access to the assets available from FXTM.

The best access comes with the Standard account, where clients using the MT4 platform will get access to 59 major, minor, and exotic currency pairs, 5 metals, 14 different CFDs, and 4 cryptocurrencies. Those who are interested in trading stocks will want to get a Shares account, where they will have access to roughly 180 different company’s shares.

Order Types

Traders can choose from four types of orders: limit orders, market orders, stop loss orders, and trailing stop order. Orders can be changed or cancelled at any time before they are filled. The Metatrader platforms make it very easy to place orders, and to make changes, such as adding stops or take profit levels, to orders.

Notification and Alerts

Forextime itself doesn’t have any notifications and alerts, but traders can take advantage of the alert system that’s built into the Metatrader platforms. These can be configured to send alerts to email or to SMS, ensuring traders won’t miss any of the notifications they’ve set, or any potential trade opportunities.

Risk Management Tools

There is no specific risk management education at FXTM, but there are plenty of other tools that can be used to limit risk. Chief among these are the stop and limit orders available. There are also the alerts that can be generated, as well as the third-party add-ons for the Metatrader platform. In addition, the FXTM Invest platform can be considered a risk management tool, presuming traders take the time to identify those Strategy Managers offering low risk strategies.

Trading Tools and Analysis

One of the plusses of trading at Forextime is the large number of trading tools and analysis tools offered by the broker. There are both technical and fundamental analysis released by the broker daily. The broker also releases its own trading signals and a Pivot Points Strategy.

Of course, there’s an economic calendar available to clients, as well as dailymarket analysis from the in-house team at FXTM. Clients also get to enjoy a new stream within the Metatrader platform that’s delivered by FXStreet, a leading source of reliable forex news and analysis.

Education and Training

Forextime makes an extensive amount of educational and training materials available to its clients. Some is the above-mentioned analysis that’s provided on a regular basis. By following along each day traders can learn about important technical and fundamental market analysis principles. It’s also possible to learn from the traders in the FXTM Invest program.

In addition to those there is a specific Education area of the FXTM website. This educational section includes eBooks and videos that explain both basic and advanced trading topics. The eBooks are written by FXTM’s head of Education, Andreas Thalassinos. He also writes regular articles as part of an education articles section of the website.

The broker also puts on seminars from time to time, and also keeps a calendar of webinars, with subjects like “The Moving Average Spring Strategy Applied” and “The Alligator Trading Strategy” and “Risk Management Calculation.” There is a webinar nearly everyday Monday through Friday.

Loyalty Program & Bonuses

Traders through the Extinity brand of Forextime can take advantage of a loyalty program that pays cash back on trading volume, with five levels to the program and a maximum payout of $10,000.

In addition, there is a referral program that pays $50 to the referring client and another $50 to the newly referred trader. The new trader must deposit the minimum based on the account type and must also trade at least 10 lots.

Forextime Customer Support

The first indication of the quality of the customer service staff at FXTM is the lack of negative reviews or complaints from users who have contacted the customer service staff.

Customer service is provided 24/5 and in 18 different languages. Even product managers are available in several supported languages.

Support is available through a number of channels. There’s online chat from the website of course, but clients can also connect via Skype, What’sApp, Viber, Telegram, and Messenger. In addition, there is telephone support, and besides the main support number in Mauritius there are nine other locations, mostly across Asia, that provide support.

In our tests support responded in under 45 seconds, were both professional and knowledgeable, and offered additional assistance after answering our questions.

Independent Opinion & Rating

In our opinion Forextime is worthy of a good review, as we found the broker to have a nice selection of accounts types and good support, along with solid regulation, competitive spreads and fess, and an acceptable range of assets to trade.

Sure, there are brokers with far more assets available, but for most traders the forex and stock offerings are more than acceptable, and the addition of some metals and cryptocurrencies rounds things out well.

They do require to have two different account for trading both forex and stocks. We aren’t sure why a separate Shares account is a necessity. In our minds the share trading could just be added right into the Standard account, or even the Cent account.

The broker has an excellent reputation within the industry, and the offerings make them suitable for every level of trader, from beginners to professionals. The comprehensive educational center, which is kept regularly updated, is also a positive in our eyes, and shows the commitment of this broker to the improvement of its clients trading acumen.

Overall, we have many things to applaud. That leads us to feeling very comfortable in recommending Forextime as a broker any trader could use.

Contact us directly

Contact us directly for further inquiries about our products and services.