FXTM review: is it a legit or scam forex broker?

ForexTime Limited (FXTM), which began operations in 2011, has since established itself as a frontrunner in the industry of online trading. 

It has grown into a well-known brand that makes the opportunities offered by financial markets accessible to traders all around the world, irrespective of where they are located or the level of their financial aspirations.

More than two million customers in over one hundred and fifty countries have already begun to take advantage of the services offered by FXTM, which has a global network of offices and regulations that spans Europe, the Middle East, Africa, Asia, and Latin America.

But is this globally popular Forex broker truly legitimate, or should traders be wary of its offering? Read this comprehensive FXTM review to find out.  

FXTM Regulation

ForexTime is subject to oversight from the Cyprus Securities and Exchange Commission, has been granted a license by the Financial Services Board (FSB) of South Africa, and ForexTime UK Limited has been registered with the Financial Conduct Authority of the United Kingdom.

For retail customers, FXTM maintains a fully separate account for their money across all of these services. 

The corporation stores its funds with reputable financial institutions all across the world, and those accounts are kept completely separate from the firm’s other holdings, making it one of the best Forex Brokers in Nigeria

FXTM Asset Offering

Trading currencies is just one of the many financial instruments offered by FXTM. Customers can also speculate on the price fluctuations of their favourite stocks. 

Traders also gain easy access to CFDs on Commodities as a method to diversify their portfolios, giving them the option to trade on the price movements of popular gas and oil products. 

Traders may diversify their portfolios by trading on the price movements of popular gas and oil products with one of the most diverse Forex brokers in Nigeria

FXTM Pricing

Trading fees are low for stock index CFDs, average or low for forex, but high for stock CFDs. FXTM’s trading fees are average or low for forex. There are varying costs associated with each type of account. 

For instance, the ECN account has low spreads but there is a commission fee associated with it. If you have a larger account balance or make more trades, the commission will be lower for you. 

The spreads on standard accounts are more expensive, but there is no commission fee; the spreads on ECN accounts are more affordable, but there is a commission fee.

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FXTM Customer Support

ForexTime (FXTM) guarantees that it will acknowledge the unique requirements of each of its customers and that it will respond to those requirements in the most effective manner. Customers can reach them using the website’s built-in live chat feature, by calling, or by sending an email.

Their trading and technical assistance includes studying trading mistakes in order to improve your technique and avoid similar mistakes in the future. Additionally, the staff ensures that any problem you may face with any product is explained and handled with in a timely manner.

Final Thoughts

FXTM is a globally recognised and reputable online Forex broker that is regulated in multiple jurisdictions. 

The broker offers access to a wide range of assets with competitive pricing, and its strong customer support contingent means that traders receive adequate assistance throughout their trading journey. 

Also read: How Much Money Do I Need To Start Trading Forex