ForexTime Review

ForexTime
2 types of bonuses
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Overview

ForexTime provides an extended range of trading services in the field of online trading for customers from up to 99 countries.

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Details

BrokerForexTime
Website URLforextime.com
Founded2011
Headquarters35 Lamprou Konstantara, Kato Polemidia Limassol, Limassol 4156, Cyprus
Support Number+3 (572) 555-87-77
Support TypesChat, telephone (including call-back), e-mail
Minimum 1st Deposit$5
Bonus2 types of bonuses
Leverage1:1000
Spreadfrom 0 points
Free Demo Account Open Demo
Regulated Yes
RegulationCySEC Controller (185/12)
Account TypesDemo, Cents, Standard, for share transactions, ECN (ECN Zero, ECN MT5 FXTM), Strategic, FXTM Pro
Deposit MethodsBank transfer, Visa, MasterCard, Skrill, Neteller, Yandex.Money, Alfa-click, QIWI, OKPay, Payza, Perfectmoney, etc.
Withdrawal MethodsBank transfer, Visa, MasterCard, Skrill, Neteller, Yandex.Money, Alfa-click, QIWI, OKPay, Payza, Perfectmoney, etc.
Number of Assets250+
Types of AssetsForex, currency, indices, raw materials, metals, futures, CFD, ETF
Trading CurrencyUSD, EUR, GBP
US Traders Allowed No
Mobile Trading Yes
Overall Score7/10

Full Review


The popular European Forex broker dubbed ForexTime was founded in 2011. Today it’s considered to be a large organization providing an extended range of trading services in online trading in the foreign exchange market for customers from up to 99 countries.

In this review we’ll try to find out whether this broker is another scam or not.

ForexTime boasts a slew of licenses and international awards («The Best FX Broker 2016», «The Best Supplier of Analytics in 2016» and «The Best Customer Service in 2016», etc.), which indicates its reliability. FXTM is the sponsor of the team of Formula 1 Sahara Force India. It also collaborates with the legend of base-jumping, a Red Bull athlete Valery Rozov. Additionally, it regularly shows up in the news reports of the Guardian, Reuters and the Financial Times.

Despite the fact that the broker is young enough, it provides competitive services and terms of trade and confidently keeps pace with the times. It follows innovations and advanced technologies in the field of online trading. Since its foundation the broker has proved to be a serious organization that provides high quality services for both newcomers as well as experienced traders. In 2017, the company reached an impressive number of active trading accounts – about half a million.

Today, users are offered more than 100 tools for trading. The number of payment systems is increasing, new types of accounts are being added and the number of language versions is increasing too, and so on. A professional support service in Russian, a personal account manager, a large selection of assets (precious metals, currency pairs, index CFDs, commodity futures, stocks) – all of this makes trading much more comfortable and productive. Special programs for beginners and professionals FXTM Invest and PAMM enable to receive additional good income.

For trading the broker offers a reliable trading platform MetaTrader 4 (MetaTrader 5), its web version not to mention convenient mobile applications. You can also use its own mobile application, which has a basic functionality for comfortable trading (live currency exchange rates, minute trade news). A high quality informative website ForexTime deserves special attention. It’s available in several languages, including Russian. Traders can use the news feed, the economic calendar, calculators, trading signals as well as SMS notifications about important events on the market. The company provides all the necessary conditions for work, including training materials and programs. Every user can pick a convenient strategy, implement it in practice and achieve the desired result.

 

Replenishment and withdrawal of funds

ForexTime offers its users around the world enhanced opportunities for withdrawing and replenishing money – up to 30 different options and even more. To replenish the account for trading, you need to undergo the registration procedure with the broker, deposit the required amount, choosing a convenient way of transferring funds. To replenish funds trader can also use modern payment solutions – from the usual bank cards to electronic payment system:

Credit cards

  • China Union Pay
  • Maestro
  • VISA
  • MasterCard

Electronic payment systems

  • Alfa-Click
  • Baidu
  • Cash U
  • Dixipay
  • Neteller
  • OKPay
  • Payza
  • Perfectmoney
  • QIWI
  • Skrill / Moneybookers
  • WebMoney
  • WeChat
  • Yandex Money

Bank transfer

  • Ceska Sporitelna AS (Erste Group)
  • Expobank
  • InecoBank

The request for withdrawal of funds is processed within 24 hours, the commission for withdrawal of funds depends on the payment method. Payments are made on time:

  • Bank transfers – 1-3 banking days,
  • Payments using plastic cards and electronic payment systems – within one banking day.

 

Complaints about ForexTime

Despite it’s quite young, the reviews about it are already available on the web and they differ in their diversity. On the one hand, traders point to the convenience of the ForexTime platform, good trading conditions, fast terminal operation, convenient and fast withdrawal, professional support service that helps in controversial situations. Besides this, clients can count on a quite affordable deposit size, high quality analytics, many useful tools, scalping capability as well as automatic trading.

Such advantages are impressive, but there are also negative reviews about server malfunctions, persistent cases of long withdrawal (about a week), difficulties with bonuses, mediocre PAMM-account system, not to mention the inability to communicate in Russian in online chat.

If you want to avoid any problems with the broker, ask your personal manager about the terms of account verification, rules for using bonuses and withdrawal pitfalls. We can say that the company has yet to find and get along with its audience, which means that there will be more comments about it, and it’s too early to draw conclusions about it.

If there are complaints about ForexTime, we’ll undoubtedly publish this information in social networks. Sign up to stay up to date with the news.

If we find complaints about ForexTime, we will post it on social media. Follow us to be well informed:

 

Is ForexTime a scam?

The broker is new in the Forex market, it only has to show its opportunities to traders. Nevertheless, the company is gaining momentum, constantly developing. It’s pursuing a series of activities (publications, sponsorship of the team of Formula 1 Sahara Force India, etc.). Moreover, it has many prestigious awards. The very fact that in 2017 the company registered about half a million active trading accounts, indicates a correctly chosen direction of work and trust of traders from all over the world.

The network already offers different reviews about the broker, and it shows that players of the Russian-speaking market are trying to work with the company and benefit from cooperation with it. Certification of ForexTime is also a significant step towards creating a positive image of the broker. One of the important factors of success is the availability of its own mobile platform, and this is an impressive investment, usually unavailable for one-day brokers.

Other no less significant benefits include a high quality service, an impressive list of ways to replenish and withdraw funds, a convenient website, round-the-clock feedback, training materials, and analytics. Should we consider ForexTime a scam? Well, at this stage of the company’s development, it seems, it is still too early to draw such conclusions, but you can secure yourself by simply working properly with your personal manager.

 

The broker’s regulator

The activity of this broker is extremely transparent, the company has several regulations. In the Eurozone FXTM it’s licensed by the Cyprus CySEC regulator (185/12), for customers outside Europe there is a regulation of the Belize Commission on International Financial Services IFSC (numbers: IFSC / 60/345 / TS and IFSC / 60/345 / APM) – the given company appears to be a member of the Investment Compensation Fund (ICF).

In addition, the broker is registered with the Office of Financial Regulation and Supervision of the United Kingdom (FCA), and its regional restrictions are established: it does not work with residents of British Columbia, Japan, Saskatchewan, Quebec, the USA and other regions.

 

Bonuses in ForexTime

Each client of the company can count on 2 types of bonuses:

1) The bonus $30 for the transition to ForexTime

Join the ForexTime team and receive a $30 trade credit in gratitude for the transfer. To receive the bonus, complete the registration, make a minimum deposit within 30 days and receive a bonus. You need to specify the conditions for participation in the action from the personal manager.

2) CashFact Loyalty ForexTime

The broker rewards loyalty with real money, which can be withdrawn from the account. To receive the bonus, complete registration, join the program in MyFXTM, deposit funds, trade and receive cash back every week. Specify the conditions for participation in the action from the personal manager.

 

Conclusion

The Forex Trading Broker FXTM, in spite of the fact that it’s still quite a young company, has a good chance of getting high ratings among the professionals of trading. The company has a lot of achievements now, a large base of traders, diverse reviews – all of this ascertains that it has much to move further, which means that with the right approach (first of all, studying and working out reviews on the Internet), it can become the leading organization that rapidly develops and caters to the user’s opinion.

Favorable trade, reliable terminals, a large selection of assets, training materials – all this positively characterizes the company, indicating a successful start and the right niche of development. It is also worth noting that ForexTime, notwithstanding the fact that it works not so long ago, has already managed to prove itself. However, it is still too early to evaluate it as a reliable or fraudulent company. The traders’ responses we are waiting for this review can do a lot. Apart from affecting the ratings of the broker on our web portal, they are also going to warn other market players against possible problems.

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