It’s hard not to be surprised by the saturated banners and enticing offers on the financial intermediary FXTM internet platform. Offers of bonuses for account replenishment, rewards for referrals, and passive income from copying trades seem too attractive to be true. After all, someone has to pay for this, right?
Birth of a leader or playing on ego?
The activities of the company ForexTime Limited (FXTM), founded in 2011, start with a common story of a team of professionals who came together by chance and decided to create an honest broker in the Forex market. The title of “global leader” hints at ego, primarily due to the numerous international team of professionals. However, this broker can only be considered global in the best case on the Asian market, as its branches are mainly located in developing economies.
The company lacks a clearly specified legal address, making it difficult to determine its location. While the broker claims to have licenses from various regulators, including the Cyprus Securities and Exchange Commission, the Financial Sector Conduct Authority of South Africa, and the Financial Conduct Authority of the United Kingdom.
Collaboration Terms at FXTM
Starting from the choice of trading platforms, FXTM clients can use MetaTrader4 and MetaTrader5, which are popular among traders for their high quality and user-friendliness. The variety of trading accounts allows choosing one that suits the trader’s individual preferences. The broker offers a wide range of trading opportunities with various assets, including popular CFD contracts.
The minimum deposit for a cent account is only 10 euros, making trading on the market accessible to a wide range of investors. The broker also offers 3 types of ECN accounts with minimal trading requirements to get started.
The broker encourages the education and development of traders by providing access to extensive educational materials, copy trading services, and the opportunity to participate in webinars and seminars. However, each service requires an analytical approach to avoid financial risks.
Reviews on FXTM
Trading on FXTM is associated with various financial opportunities and multilingual customer service. However, the abundance of negative reviews about withdrawal conditions and customer support raises doubts about the company’s reliability.
Withdrawals from FXTM are processed within 24 hours depending on the chosen method. The broker offers a wide range of payment systems, including cryptocurrency operations through the Bitcoin system. However, it is necessary to consider commissions and customer identification rules when withdrawing funds.
Conclusion
FXTM provides a wide range of services and tools for traders in various regions of the world. Despite this, the numerous negative reviews about the company and the absence of effective customer feedback put its reputation into question. It is recommended to exercise caution and carefully study all collaboration conditions before engaging in joint activities.
