FXTM Information

FXTM (Forex Time), established in 2011, is a globally recognized forex and CFD broker regulated by both the Financial Services Commission (FSC) of Mauritius and the Financial Conduct Authority (FCA) in the UK. The company serves over 2 million clients across 150 countries, offering services in 18 languages. FXTM provides a diverse range of trading instruments including forex, metals, commodities, stocks, indices, cryptocurrencies, and various CFD products. The platform is known for its cost-effective trading solutions with competitive variable spreads that can reach as low as 0 pips. Traders can access the market through its user-friendly MT4 and MT5 trading platforms, available on desktop, web, and mobile devices, enabling convenient trading anytime and anywhere.

FXTM Pros and Cons

Is FXTM Legit?

FXTM operates under a strong regulatory frame, and it has several entities that are regulated in different jurisdictions:

Regulated Country	Regulated Authority	Regulated Entity	License Type	License Number	Current Status
	FCA	Exinity UK Ltd	Straight Through Processing (STP)	777911	Regulated
	FSC	EXINITY LIMITED	Retail Forex License	C113012295	Offshore regulated

Market Instruments

FXTM offers over varioustradable instruments, covering forex, metals, commodities, stocks, indices, cryptocurrencies, and CFDs. However, this broker does not currently support trading on futures, options, and ETFs.

Account Type

FXTM offers three different types of trading accounts, which are the Advantage account, the Advantage Plus, and the Advantage Stocksaccount. All accounts require a minimum deposit requirement of 200. Each account type has its own unique features and benefits, such as different spreads, commissions, and trading instruments.

Demo Account

FXTM offers demo accounts for all its account types. These demo accounts allow traders to test their trading strategies in a risk-free environment using virtual funds. Demo accounts are also useful for new traders who want to learn how to trade before committing real money to live trading.

How to Open an Account?

• To open an account with FXTM, you first need to visit their website and click on the “OPEN ACCOUNT” button on the top right-hand corner of the page.

• This will take you to the account registration page where you will need to fill out some basic personal information like your name, email address, and phone number.

• Next, you will be asked to choose the type of account you want to open. FXTM offers three main account types - Advantage, Advantage Plus, Advantage Stocks, each with its own features and benefits. You will also need to select the base currency of your account and agree to the terms and conditions of the broker.
• Once you have selected your account type and base currency, you will be prompted to provide some additional personal information like your date of birth, occupation, and address. You will also need to answer a few questions about your trading experience and investment goals.
• After you have completed the registration process, you will need to verify your account by providing some additional documents like a copy of your ID or passport and a proof of address like a utility bill or bank statement.
• Finally, once your account is verified, you can then make your first deposit and start trading.

Leverage

FXTM offers leverage of up to 1:3000. It's recommended to use leverage wisely and only trade with funds you can afford to lose.

Spread and Commission

For the Advantage account, the spreads start from 0.0 pips, and $3.5 per lot traded on FX is charged. For the Advantage Plus account, the spreads start from 1.5 pips, but no commission. For the Advantage Stocks account, the spreads start from 6 cents, but no commission.

The spreads offered by FXTM are typically lower than those offered by many other brokers in the industry, particularly on the Advantage account. The Advantage Plus account, however, has slightly higher spreads, which is to be expected due to no commissions.

Trading Platform

FXTM offers three chocies of trading platforms, including the popular MetaTrader 4 and 5 platforms, as well as their proprietary mobile trading app.

FXTM Copy Trading

FXTM Invest is an advanced copy trading feature offered by FXTM, designed to make trading accessible to investors of all experience levels. With a low entry threshold of just $100, this platform allows users to automatically replicate the trades of experienced Strategy Managers. FXTM Invest stands out for its attractive pricing model, offering zero spreads on major FX pairs and a performance-based fee structure where investors only pay when their chosen Strategy Manager generates profits.

The process of getting started with FXTM Invest is streamlined into five simple steps: signing up or logging in to MyFXTM, selecting a Strategy Manager, opening an Invest account, making a deposit, and then watching as the system automatically copies your chosen manager's trades. This user-friendly approach, combined with the ability to maintain full control over your funds, makes FXTM Invest an appealing option for those looking to tap into the forex market with the guidance of seasoned professionals.

Deposit and Withdrawal

FXTM offers a variety of deposit and withdrawal options for its clients. Traders can deposit funds into their trading account using Kenyan/local transfers (local Indian payment methods: UPI and Netbanking, local Nigerian instant bank transfers, equity bank transfer, Ghanaian local transfer, Africa local solutions, M-Pesa, FasaPay, TC Pay Wallet), credit cards (Visa, MasterCard, Maestro, Google Pay), e-wallets (GlobePay, Skrill PayRedeem, Perfect Money, Neteller), and bank wire transfer.

FXTM charges €/£/$3 or ₦ 2,500 fee for any deposit under €/£/$30 or ₦25,000.

Educational Resources

FXTM offers various free educational resources including glossary, market analysis and guides.

Besides, their educational resoucres are friendly both for beginners and professionals.

For example, trading basics are suitable for beginners who want to learn some basics, while advanced guides are more suitable for traders who are experienced.

Customer Support

FXTM is known for providing excellent customer support to its clients, including live chat, contact form and phone. The customer support team is available 24/5 and is multilingual, which means clients can communicate with them in their preferred language.

Here are their headquarters and other office locations.

FXTM also provides an extensive Help Center section on their website that covers various topics, such as account opening, deposit and withdrawal methods, trading platforms, and more. This section is helpful for clients who prefer to find answers to their questions without contacting the support team.

Conclusion

To sum up, FXTM is a well-regulated and respected forex broker with a wide range of market instruments, competitive trading conditions, and user-friendly trading platforms. FXTM's customer support is also responsive and helpful, and their free educational resources are very useful for both novice and experienced traders.

FAQs

Is FXTM legit?

Yes, FXTM is regulated by FCA and FSC (Offshore).

What trading instruments are available on FXTM?

FXTM offers a range of trading instruments including forex, metals, commodities, stocks, indices, cryptocurrencies, and CFDs.

What is the minimum deposit required to open an account on FXTM?

$/€/£/₦200

What trading platforms are available on FXTM?

FXTM offers three chocies of trading platforms including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, as well as mobile trading.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

General Information & Regulation

Charterprime is a global financial and foreign exchange brokerage group established in 2012, headquartered in Sydney, Australia. The company adopts the STP processing system as its business model and is authorized and regulated by the ASIC in Australia, with regulatory license number 421210.

Markets Instruments

Financial instruments can be traded online with Charterprime include forex, precious metals, indices CFDs, and spot commodities.

Charterprime Account Types

Three account types are offered by Charterprime: the Variable account, the ECN account and the Swap-free account. The minimum initial deposit for three account is $100, the reasonable amount for most regular traders to get started.

Charterprime Leverage

CharterPrime as an Australia and New Zealand broker together with its obligations to local regulation still allows high leverage. The maximum trading leverage available by this broker is up to 1:500 for forex instruments and major currency pairs available for retail traders.

Spreads & Commissions

The average spread of the EURUSD for the Floating Spread Account is 2.0, the average spread of the EURGBP 1.9, and the average spread of the AUDUSD is 2.2. The average spread of ECN accounts for the EURUSD is 0.5, the average spread for the EURGBP 0.8, and the average spread for the AUDUSD is 0.7. The average spread of Gold Price in US dollar for Floating Spread Accounts is 3.8, and the average spread for Silver Price in US dollar is 3.4. The average spread of Gold Price in US dollar for ECN accounts is 1.5, and the spread for Silver Price in US dollar is 3.6. See the following swap chart:

Trading Platform

The MT4 trading platform used by Charter has powerful trading functions and analytical capabilities. Apart from Multiple order execution, it enables traders to conduct complete and flexible tradings. At the same time, it also integrates market charts, technical analysis, and order transactions. Three functions are integrated, allowing users to quickly determine trends and determine the best entry and exit time. Besides, the company also provides a multi-account management model, which refers to a practical and convenient way to manage accounts on behalf of clients and manage multiple accounts simultaneously from a single interface. It can quickly execute a large number of customer orders as long as the management account clicks a button, and a large number of transactions can be automatically allocated to their respective customer accounts.

Virtual Private Server (VPS)

VPS, also known as Virtual Private Server, is a stand-alone server that runs 24 hours per day. Traders can log into a VPS with a computer or mobile device, without any pullback issues caused by network failure or any other factor that can affect their trading progress. A VPS is suitable for and mainly used by traders who employ automated strategies which require uninterrupted access to the market 24 hours a day.

Deposit & Withdrawal

Deposit and withdrawal methods support Bitcoin (deposit time taking 1 day, and the withdrawal time taking 3 days, and the minimum withdrawal amount is 100 US dollars), USDT (the stable value currency U.S. dollar (USD) token Tether USD launched by the Ether company, USDTfor short, 1USDT equals 1 U.S. dollar, deposit taking 1 day, withdrawal taking 3 days, deposit and withdrawal fees are both 5%), UnionPay (no charge for deposit and withdrawal, deposit time taking 1 day, withdrawal taking 3 days , the minimum amount of gold withdrawal is US$100), wire transfer (the deposit and withdrawal taking 3-5 days, the withdrawal fee is 40 US dollars, and the minimum amount of withdrawal is 100 US dollars), Skrill (deposit taking 1 day, the withdrawal taking 3 Day, no deposit fee, withdrawal fee is 1%, the minimum amount for withdrawal is 100 USD), Neteller (Deposit time taking 1 day, withdrawal taking 3 days, no deposit fee, withdrawal fee is 2%, the maximum is 30 USD , The minimum withdrawal amount is US$100), and Local Gateway (currently supported currencies are Thailand, Indonesia, the Philippines and Vietnam, deposit taking 1 day, withdrawal time taking 3 days, no deposit and withdrawal fees, and the minimum withdrawal amount is 100 US dollars).

Educational & Research Tools

There are no other educational resources provided by the broker apart from a baic glossary, FAQ, user and installation guiders fro the MT4 trading platform.

Additional research tools offered by CharterPrime consist of market news, updates and an economic calendar of featured events and data releases.

Customer Support

CharterPrime Customer Support team can be contacted within working hours through Live Chat, email or contact form.

Here are some contact details:

Telephone: +852 8175 6090

Email: enquiry@charterprime.com

Or you can also follow this broker on some social media platforms, such as Facebook, Twitter, Instagram and Linkedin.

Pros & Cons

Frequently Asked Questions

Is Charterprime regulated？

Charterprime is authorized and regulated by the ASIC in Asutralia under regulatory license number 421210.

Does Charterprime offer a demo account？

Yes, demo accounts are available with Charterprime.

What trading platform does CharterPrime provide？

CharterPrime makes the popular trading platform MT4 available.

What are CharterPrime's customer service hours？

The CharterPrime customer service team is available 24/5 from Monday to Friday.

Can I change my leverage with Charterprime？

Yes, leverage can be changed by contacting the Charterprime customer support team.