ForexTime.Com – FXTM Singapore Review
Forextime.com operating under the brand FXTM is a well-known name in the Forex trading industry. It offers Forex and CFD trading services in several countries, including Singapore. The important features of FXTM Singapore are low spreads, flexible and high leverage, and a variety of platforms, with Copy Trading feature and more. FXTM started in 2011 and is an abbreviated name for Forextime.com. ForexTime.com has gained popularity in the Forex industry in a short time. They focus on providing timely service as much as they can for their investors.
This broker complies with regulators in multiple countries, which include Cyprus, South Africa, UK, and Mauritius. They provide an advanced and highly competitive trading platform, and high-quality Forex and CFD trading services to their clients.
The important factors in selecting the right Forex broker in Singapore are – the type of account, regulation of the broker, cost of trading (spread, deposit, and withdrawal fees). FXTM Singapore offers you all these features in terms of low fees, FXTM Invest copy trading service to copy the best traders’ trades in your account, and much more.
The traders should always do a background check of the broker for the safety and security of their account. If you have any doubts about FXTM’s reputation, you might find this FXTM Singapore Review 2020 very useful to make a decision. We have covered all aspects of ForexTime.Com as a Forex broker, their regulation, Account types, and fund deposit and withdrawal methods.
ForexTime.com Account Types
FXTM offers different account types that fit every kind of trader. The traders can choose the account depending upon investment amount, trading style, or if they want copy trading. There are seven types of accounts, which fall into two categories: three types of Standard account, and four types of ECN accounts. The Free Demo Account can be used for learning and practice purposes.
Account Types – FXTM Singapore
FXTM Standard account – Minimum deposit $100 and spreads from 1.5 pips. The standard account offers 59 major, minor, and foreign currency pairs in addition to Metals, Spot CFDs and Cryptos.
FXTM Cent Account – It is a small Forex trading account with $5 deposit. The account runs in cents instead of dollars and pence instead of pounds. This account is for those who want to learn Forex trading with a small amount at risk.
FXTM Shares account – requires a similar deposit like a standard account, though you’ll trade in share CFDs and not currency pairs. It offers 120+ US stocks and 40+ European shares for CFD trading.
FXTM ECN Account – The ECN account requires a minimum deposit of $500. ECN accounts offer very thin spreads from 0.1 spreads. It offer 48 major and minor Forex pairs and spot metals and CFDs for trading.
FXTM ECN Zero Account – spreads offered are from 0.5 pips, 47 currency pairs, and $200 minimum deposit needed.
FXTM ECN MT5 Account – The MT5 Account offers you more capabilities to trade with advanced features/. The spread and fees are similar to the ECN and the ECN Zero Account. A minimum deposit of $500, access to an FXTNM, ECN, MT5 Account, and spreads from 0.2 pips.
FXTM Pro-Account – this account type is for serious traders. The required minimum deposit is $25,000, and you can avail of greater advantages.
TRADING FEATURES – FXTM
There are certain special trading features that make FXTM an outstanding Fore broker in Singapore. They have local local offices in several countries. Apart from the promotions and bonus other brokers offer, you must consider FXTM service qualities, low spread and FXTM Invest feature to open an account. The features that make FXTM an uotstanding Fore broker in Singapore are :
Leverage – The leverage depends on the type of account you select. The leverage ranges from 1:500 to 1:25 for Standard and Cent Account and ECN accounts; the Pro one has lower leverage of 1: 25 to 1:200. The leverage standards depend upon your country of residence too.
Spreads – Spreads applied in FTM accounts are lesser than other brokers in the industry. The spread varies like leverage depending on the type of account you hold. FXTM Pro Account offers 0- 0.5 pips and 1.3- 1.5 with the Standard and Cent Accounts.
FXTM Invest – This system offers the Forextime.com traders a reliable Copy Trading feature. Many traders from Singapore trade with FXTM only to use the best in the industry copy trading. FXTM copy trader providers go through a stringent ranking system and the traders get good quality strategy followers. Check out more Forex copy trading providers in Singapore.
You are free to choose an MT4 or MT5 platform for trading. MetaTrader4 and Metatrader5 platforms are available for both PC and MAC along with a web browser-based platform. You can also trade on mobile platforms on your Android and iOS mobile phones.
REWARDS AND PROMOTIONS
FXTM doesn’t offer big bonuses like 100% or 50% bonus on deposits. They rather offer some cashback offers on your trading. The Bonus offered by the brokers usually come with unrealistic terms and conditions and it is used to attract the traders. This is against FXTM’s policy to offer big bonuses. You can check ou the current promotions on the Promotion Section of their website.
FXTM allows trading through your mobile phone while on the go. The mobile platforms are available for Android and iOS – they are the most advanced mobile version of MT4 and MT5. You can trade using these mobile platforms on iPhone, iPad, Mac, and Android phones. The broker has super-fast servers optimized for speed to provide amazing mobile trading experience.
DEPOSITS AND WITHDRAWAL
FXTM provides a wide selection of funding methods for Singapore traders which include wire transfer, payment wallets, credit and debit cards, and local bank deposits. Most of the deposit methods would take up to a few minutes for processing, except wire transfer that 3 to 5 business days. The fund withdrawals are easy and fast, and a $3 processing fee applies to withdrawals. The traders must verify their account by providing their identity and address proof before they can withdraw any fund.
The majority of Forex brokers provide the same benefits and features, but some would set themselves apart from the rest. The typical features that make FXTM Forex broker stand apart from others are:
FXTM Invest – It allows the traders to copy trades of expert traders who have a record of making a profit. The expert traders are called strategy providers, you can copy your favorite strategy provider’s trades in your account through an FXTM Invest account.
Free Demo Account – You can open a Free demo account and try all the features of FXTM. By trading in a demo account, you can train yourself without any risk before investing.
Free Educational materials – Get exclusive access to live Webinars, video tutorials, market analysis, free indicators, and trading signals in the Forextime.Com clients’ area.
Customer Service –
While trading with ForexTime, you get award-winning customer support who believe to help you as quickly as possible. In the Get Help section, you can find the FAQ, a live Chatbox, or ‘Contact Us’ option. You can use all these contact options to reach someone for assistance. There are specific emails for different departments like ‘account opening’ and ‘disputes or complaints’ to provide your quicker support.
FXTM is one of the renowned Forex brokers in the industry and it is the leading Forex broker in Singapore. They’re transparent with their terms and conditions. They utilize the best in the industry technology and security features for providing service to Singapore traders. FXTM Singapore works with the goal is to save your time on each of your activities. Hence they swiftly process all the formalities of account opening, verification, and activation.
In FXTM Invest, the collection of strategy providers are among the best; there are thousands of traders copying these strategy providers in the FXTM Invest account and making money.