Frequently asked questions about FXTM

　　FXTM(Forex Time) was established in 2011 and cash foreign exchange trading platformis headquartered in Cyprus (Limassol). It has also been authorized by the Financial Conduct Authority and other regulatory agencies and is rated as one of the fastest growing and best foreign exchange brokers in the world. In a relatively short period of time, the broker achieved significant and rapid growth in Europe and other regions by focusing on Africa and Asia.

　　What is the minimum deposit amount for FXTM?

　　The minimum deposit amount for FXTM is only $10, depending on the account type. If you choose one of the ECN accounts, the minimum deposit amount for the ECN account is $500, the ECN zero account is $200, and the ECN Pro account is $25000. If a trader opens a standard account, the minimum deposit amount for the standard account is $100, the cent account is $10, and the stock account is $100.

　　In order to start using FXTM for online transactions, you need to transfer at least the minimum deposit amount to your trading account. This is a normal practice for any broker as it covers the cost of setting up their account and ensures that traders are encouraged to use it.

　　Compared to some brokers who require deposits of $200 or even thousands of dollars, their deposit requirements are very low. This allows you to try broker products and services before forextrustindex more funds to ensure they are suitable for your needs.

　　How can I deposit funds into FXTM?

　　Depositing funds into an FXTM account is both fast and convenient. The process is as follows:

　　Open the deposit page in the My Funds section of MyFXTM.

　　Choose your preferred deposit method and click on "Deposit".

　　Select the MyFXTM account or wallet where you want to deposit funds and fill in the necessary fields.

　　Confirm the deposit details on the next page.

　　Brokers offer various convenient deposit methods, including bank wire transfers, credit/debit cards, cryptocurrencies, and various electronic wallets.

　　FXTM only accepts deposits in euros, pounds, and dollars. All transactions sent in different currencies will automatically be converted to euros, pounds sterling, or US dollars; The processor may charge conversion fees.

　　The time it takes to see funds enter your FXTM account depends on the deposit method used. Credit/debit cards and online payment processors may only take a few hours, while bank transfers may take 3-5 business days. If they need to request and verify additional information, the processing time may be longer.

　　All transfers are processed during standard working hours, from 08:00 to 18:00 GMT+2 (GMT+3 DST) from Monday to Friday. Deposits during weekends/bank holidays will be processed according to the standard processing time for each payment method.

　　Traders can deposit using a joint account by filling out the joint account form and attaching the account holder's identification documents, including the latest bank statement and payment confirmation for the designated account.

　　Brokers also accept deposits from company accounts. If there are multiple shareholders, they will require written consent from each shareholder before processing the funds.

　　They do not accept third-party transfers. The sender's name must match the name used during FXTM registration.

　　What is the FXTM deposit fee?

　　FXTM does not charge any deposit fees. If the balance in your account is different from the balance you deposited, it may be due to additional fees charged by your payment provider/bank. If this is the case, you should contact your payment processor to further understand any fees they may charge.

　　How can I withdraw funds from FXTM?

　　To withdraw funds from your FXTM account, the process is as follows:

　　Go to the withdrawal page in the "My Funds" section of MyFXTM.

　　Select the payment method and click on 'Withdrawal'.

　　Select the MyFXTM account or wallet from which you want to withdraw funds and fill in the necessary fields.

　　Select the withdrawal reason and enter the PIN code sent to you via email or SMS, then click 'Submit'.

　　Traders must use the same methods as deposits to withdraw funds, including bank wire transfers, credit/debit cards, and electronic wallets. In order to request withdrawal, the trader's personal information must be fully verified.

　　All withdrawal requests are processed within the same working day, but the time required for funds to be transferred to your account will depend on the payment method used. Bank wire transfers take 3-5 working days, credit/debit cards take 3-10 working days, and electronic wallets take 24 hours.

　　If there is sufficient available deposit in the account to pay for withdrawals and any additional fees that may occur, withdrawals can be made while holding an open position.(Recommended reading:Which country is FXTM from)

　　What is the withdrawal fee for FXTM?

　　FXTM charges a small withdrawal fee of 2 euros for credit/debit cards and a withdrawal fee of 10 euros for bank transfers. They do not charge fees for withdrawals from electronic wallets, but traders may need to verify with the processor they are using as they may charge a receiving fee.

　　What is the FXTM commission?

　　A small commission is only applicable to ECN accounts (MT4) and FXTMECN MT5 accounts.

　　ECN Account (MT4): Commission is charged based on the exchange rate (if applicable) between the base currency and the trading account currency of 4 units per transaction. Only used when opening positions, considering both opening and closing positions.

　　FXTM ECN MT5: The commission is fixed at $4 per standard hand, which is $2 at opening and $2 at closing.

　　The higher the equity, the greater the transaction volume, and the lower the commission paid. High net worth traders with high monthly trading volume can save a lot of commission.

　　Other fees that need to be noted are the swap fee and spread for overnight positions. These are the normal fees for most brokers.

　　Does FXTM have idle fees?

　　If the account is deemed inactive (without trading activity) within 6 months, FXTM will charge an inactive fee of $5. If the trader requests withdrawal of funds after no trading activity, FXTM has the right to charge the equivalent amount of any bank fees or 3% of the total withdrawal amount.

　　What are the types of FXTM accounts?

　　FXTM has many real accounts to choose from, each with its own personality and goals. There are accounts suitable for different types of investors, from experienced traders to beginners, from small depositors to large depositors, and a real account list ensures that everyone can find what suits them.

　　Firstly, it should be noted that traders can choose between standard or ECN accounts. The main differences between accounts include:

　　FXTM Standard Account: No commission is charged, with a minimum deposit of $10 and a difference of 0.1 points.

　　FXTM ECN account: commission of 0-2 US dollars, minimum deposit of 200 US dollars, zero point difference.

　　The type of account a trader chooses depends on their trading strategy. Traders who use strategies such as scalp stripping that rely on low spreads may prefer ECN accounts with spreads starting from 0. On the other hand, swing traders who hold positions for a long time may not be very concerned about spreads, so they can choose accounts based on other factors such as the minimum required deposit amount.

　　Does FXTM have a simulated account?

　　Yes, FXTM provides standard, cent, ECN, and ECN zero account presentation formats as a perfect way to experiment with different strategies and practices under real-world market conditions. These simulated accounts are funded by virtual cash, which means you can prepare for actual transactions by developing your skills without risk (but also without profit).

　　Simulated trading does not consider emotions such as fear, anger, and greed, all of which can affect traders' trading performance when using real funds.

　　What is the FXTM point difference?

　　The trading price difference is the difference between the buying (quoting) and selling (buying) prices of asset quotes. This is a common fee charged by brokers when you build a position on a specific trading tool. The spread varies depending on market liquidity and tools.

　　FXTM spreads are floating and may increase at specific times of the day depending on market conditions. The spread of this broker is the lowest point we have ever seen, and the spread provided by the account starts from 0 o'clock.

　　The FXTM Pro account provides institutional level spreads, with the condition that the minimum account balance of $25000 is always maintained. If the balance of the FXTMPro account falls below the required amount, the difference may be restored to retail pricing until the account is recharged. In this case, the customer will be notified in advance.

　　What is the FXTM lever?

　　The leverage is fixed based on the trading tool, with a maximum limit of 1:30. Leverage is provided based on the knowledge and experience of traders, but the company may make changes at its own discretion. Traders can also manually change leverage from the "Account Overview" section of MyFXTM. Traders who are qualified to become professional clients can request increased leverage.

　　Leveraging allows traders to trade larger positions than they could bear without it. Like any leveraged product, this means that both losses and profits may increase. Before using leverage for trading, it is necessary to have a clear understanding of what leverage is and the risks involved.

　　For example, if a trader has a maximum leverage of 1:10 and opens a position with that leverage on an account of $10000. Traders now hold positions with an asset value of $100000. This means that a 1% price change will completely eliminate the position. Also consider that if the position loses $5000, the broker may reduce the trader's position. This is because the trader currently only has $5000 in available funds, and a 1:10 leverage means that the maximum allowed position should be $50000 instead of $100000.

　　Reduce leverage to 1:5, with an initial expenditure of $10000, which means the position is now $50000, and a 1% change will equal $500. Maintaining low leverage means that if traders do indeed lose money, they are unlikely to exhaust all or a significant amount of their capital.

　　What are the margin and stop loss levels for FXTM?

　　The margin level is the net value that a trader needs to maintain in order to maintain their position. If your net worth is lower than the maintenance margin amount, FXTM will issue a margin call and close any/all open positions.

　　FXTM margin requirements may vary depending on the type of transaction and the server. You can accurately check when each account will trigger a stop loss in the "Trading Account Overview" section of the brokerage website.

　　For example, the stop loss level of the FXTM standard account is 20%, and the margin call is 40%. This means that once the trader reaches 40% of the margin level, they will receive a margin call. If traders have not started closing the lowest profit positions and have experienced further losses, causing them to drop to 20%, FXTM will begin to close these positions for them due to stop losses.

　　Traders are responsible for constantly monitoring open positions and ensuring that they have sufficient funds in their accounts or decide to close any open positions.

　　Does FXTM allow hedging, scalping, and expert advisors?

　　Yes, FXTM allows for hedging and scalping strategies as well as automated trading through the use of expert advisors (EA).

　　Do you have an FXTM Islamic account?

　　Yes, all accounts provided by FXTM have an exemption period option to ensure that they are Muslim friendly brokers and comply with Islamic law. You can choose the exemption period option when opening a trading account or enable it in MyFXTM.

　　Please note that customers in some countries/regions can use the exemption period option. The exemption period account on MT5 does not provide foreign currency pairs.

　　What trading tools does FXTM have?

　　FXTM offers a wide range of asset classes, including foreign exchange, precious metals, commodities, stocks, and indices. They have hundreds of trading tools, so no matter what the trader's interests are, everyone can trade.

　　How to open an FXTM real account?

　　By filling out a brief application form on the brokerage website, traders can register for FXTM within a few minutes. Just click on the 'Open Account' button on the entire website and follow the steps to start.

　　How to verify FXTM account?

　　Once a trader becomes a validated customer, they can use all of FXTM's products and services. Traders can verify their personal information by uploading clear colored copies (phone photos or scanned copies) of the following documents:

　　Proof of identity - passport, national identity card, or driver's license.

　　Proof of address - bank/card statement or utility bill. Examples of files that can be provided include: water/gas/electricity/internet/phone bills. Residence permit. They do not accept mobile phone bills, and all bills/bills must not exceed 3 months.

　　After uploading all files, it may take up to 20 minutes to verify your personal information between working hours and 24 hours.

　　What trading platforms does FXTM have?

　　FXTM provides popular and user-friendly MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms on various desktop and mobile devices, as well as WebTrader. The online platform runs directly in a web browser without the need to download or install any other software, and mobile trading applications are very suitable for those who want to conduct transactions on the go.

　　In addition to the powerful MetaTrader platform, the broker also offers a proprietary FXTMTrader application that can be completely downloaded for free on Android and iOS devices.

　　Where can I download the FXTM platform?

　　Traders can directly download MetaTrader and FXTM platforms for free from the relevant application stores on brokerage websites or mobile devices. The WebTrader platform can also be launched directly from the brokerage website in your web browser.

　　Where is FXTM located?

　　FXTM has offices in multiple cities and countries, including the UK, Cyprus, South Africa, and Mauritius.

　　Is FXTM regulated?

　　Yes, FXTM is licensed and regulated in multiple jurisdictions, providing services to customers in over 150 countries worldwide.

　　FXTM is regulated by the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority of South Africa (FSCA), and the Financial Services Commission of the Republic of Mauritius (FSC).

　　Foretime Ltd, Foretime UK Ltd, and Exinity Limited are three entities under the FXTM brand. All entities are licensed and regulated in multiple jurisdictions worldwide, and provide corresponding products and services.

　　Which countries does FXTM accept?

　　The FXTM brand does not provide services to residents of the United States, Mauritius, Japan, Canada, Haiti, Suriname, Democratic People's Republic of Korea, Puerto Rico, Brazil, occupied areas of Cyprus, and Hong Kong.

　　Is FXTM a scam?

　　No, FXTM is not a scam. They are regulated in multiple jurisdictions and have been providing industry-leading brokerage services to global clients since 2011.

　　How do I contact FXTM support?

　　If traders have any questions about trading, registration, platform, account, or anything else, they can contact FXTM customer support department. Contact the multilingual support team 24/5 via email, phone, or real-time chat.

　　ending

　　FXTM stands out among numerous traders due to its legitimacy. FXTM not only has repeatedly won awards, but also attaches great importance to customer investment education. At the same time, it also provides traders with flexible trading accounts and convenient deposit and withdrawal methods. The broker has strict regulation in multiple countries and offers over 250 diverse trading products. Low spreads, low commissions, and fast execution speed are also highlights of the broker.

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