A Brief History
ForexTime often referred to as FXTM is a relatively new
brokerage on the scene having only launched in 2013. This is not to say that
the team in charge of the brokerage is not deeply experienced with the
brokerage being launched by Andrey Dashin an executive and major shareholder at
internationally renowned Forex broker Alpari. The launch of ForexTime came
after Alpari consolidated its Western European operations, concentrating on the
FCA regulated imprint of the firm, this led to many members of staff at Alpari
CY joining FXTM. In 2013, FXTM has been working hard on breaking into the very
crowded Forex market place and has some success with its no dealing desk
offerings.
Services
As the name suggests FXTM is heavily geared towards Forex
trading, with currency trading making up the core of the company’s revenue. The
brokerage offers a total of 60 currency pairings on its platform, allowing
individuals to trade major, minor and exotic pairings. FXTM offers an array of accounts with the
brokerage offering both Dealing Desk and ECN accounts. Of particular interest
will be the Amanah (Islamic) trading account which is Sharia compliant, with
traders sharing profits with the brokerage to make up for the lost overnight
charges. The full range of accounts on offer can be found at the brokers
website.
In addition to offering FX pairings the brokerage also
offers a range of CFD’s. For those who don’t know, CFD’s are a form of
financial derivatives which allow individuals to speculate on financial
instruments without owning the underlying asset. FXTM offers a range of CFD’s
for a range of markets with it being possible to trade Stocks, ETF’s, Indices,
Commodities and Precious Metals all on the FXTM platform. This means traders
can speculate on a range of market all in one platform.
When it comes to trading platforms, FXTM relies heavily on
the MT4 & MT5 platforms from MetaQuotes. The brokerage offers the Web, PC
and Mac versions of both MT4 & MT5, ensuring that those who want to use the
MetaTrader platform are able to do so, no matter what their computing options
are. Additionally, FXTM offers the mobile and tablet versions of the MetaTrader
platform which are available in all the major important formats. Those who love
MetaTrader are sure to love the platform offering from FXTM, but those who
aren’t keen on MT4 & 5 may want to look elsewhere.
In 2015, the brokerage began offering a specialised PAMM service looking to directly compete with brokerages offering social trading service. Fund managers were first to be vetted by the brokerage and then could offer their trading signals to clients of the firm and receive commission in exchange.
In 2015, the brokerage began offering a specialised PAMM service looking to directly compete with brokerages offering social trading service. Fund managers were first to be vetted by the brokerage and then could offer their trading signals to clients of the firm and receive commission in exchange.
Regulatory
Information
ForexTime gained a CySEC licence in 2012, before eventually
launching properly in February of 2013. This means that FXTM has always been a
regulated company and doesn’t have any shady past to speak of. As Cyprus is a
member of the EU and European Economic Area, the brokerage is able to offer it
services to those who live in European Economic Area countries via MiFID’s
outbound passporting. The brokerage has a completely clean regulatory record
and has never been disciplined by CySEC during its time as regulated brokerage.
Sources
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