FXTM Review: Is FXTM any good?

Broker overview and general information

FXTM or ForexTime is a broker founded in 2011 by Andrey Dashin. It has its main office in Cyprus and also has a network of offices around the world. Although it has been in operation for a long time, it has only recently entered the Thai market, so it may not be well known among Thai traders. Opening an account with a broker in Thailand will be under the company Exinity Limited, which is regulated by the Financial Services Commission (FSC), Republic of Mauritius.

Licenses that brokers have obtained

If you ask whether FXTM is good or not, you should start by considering the license factor first, which has the following licenses:

• Financial Conduct Authority (FCA) License No. 777911 under Exinity UK Ltd.

• Financial Sector Conduct Authority (FSCA) License No. 50320 under EXINITY LIMITED ALPARI INTERNATIONAL AND FXTM GLOBAL.

• Mauritius' Financial Services Commission (FSC) License No. C113012295 under EXINITY LIMITED.

• Capital Markets Authority of the Republic of Kenya (CMA) License No. 135 under Exinity Capital East Africa Limited.

Products and services from brokers

There are over 250 CFD products available, including currencies, indices, commodities, and stocks such as USD/JYP, AUD/USD, FTSE, DAX, Nasdaq, oil, gold, silver, Apple, BP, Google, etc. There are several trading accounts that clients can choose from according to their needs and level of trading experience.

Trading platforms and tools

Traders can trade through multiple platforms including MT4 and MT5, facilitating traders to use them anywhere, anytime through these powerful platforms.

• MetaTrader 4 (MT4): The most trusted and widely used trading platform in the financial industry, it comes with a full range of functions to meet the needs of traders.

• MetaTrader 5 (MT5): An enhanced platform from MT4 with more functionality such as multi-market trading, derivatives trading and direct stock market transactions.

Broker Account Types

There are Advantage, Advantage Plus and Demo trading account types to support different trading needs as follows:

Pros and Cons of FXTM  

strength

• The broker is licensed by a reputable authority.

• No Swap for all account types

• Support deposits and withdrawals via Thai banks

weakness

• There is a 2% withdrawal fee for Thai banks.

• Credit card withdrawal fees are high.

• The minimum deposit amount is quite high.

• There are not many bonus promotions.

• Some account types charge commissions.

• There is an account inactivity fee (6 months of inactivity).

• Customer service is not available 24 hours a day, 7 days a week.

Office location and contact channels

FXTM Global  ที่ตั้ง 1st Floor, St. Vincent Bank Bldg, P.O. Box 1510, James Street, Kingstown, VC0100, Saint Vincent and the Grenadines

Contact channels:

• Live chat on website

• Social media: Facebook, Twitter, Instagram, YouTube

FXTM Broker Overview Summary

Although the broker has only recently entered the Thai market, it is considered one of the most interesting brokers because it has a reliable license. In addition, the broker does not charge additional Swap fees for all account types. It also provides a maximum leverage of 1:2000.

However, there are still reports from users mentioning problems with withdrawal fees, commissions, high minimum deposits, few promotions, and slow and unavailable customer service 24 hours a day. Therefore, traders need to reconsider before investing.

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