FXTM: What Do Consumers Say about it?

Many traders who have never dealt with FXTM may wonder how the broker is, and BrokersView's Q&A section is often filled with users asking for information about the company. Let's take a look at what the company's customers said about it through the reviews of real FTXM traders.

About FXTM

Founded in 2011, FXTM (a.k.a. ForexTime) is one of the leading traders in the Forex market, offering a wide range of trading instruments such as forex, precious metals, stocks, futures and more. As a famous financial services provider in the industry, FXTM has built up a global client base and won several awards, with its UK entity realizing a profit of nearly 320,000 pounds in 2022.

As for regulation, FXTM is licensed by local financial regulators in several jurisdictions around the world, with some of the more notable regulatory authorities including the Cyprus Securities and Exchange Commission (CySEC) and the UK's Financial Conduct Authority (FCA).

In addition, this forex broker also offers educational resources on its official website to help investors understand the trading market, attracting many beginners to visit its website and learn to invest.

Positive reviews take up more than half

Generally, FXTM has received more than half of the five-star reviews, which means that most users are satisfied with this broker. It's worth noting that FXTM has responded to almost every review, thanking users for the positive comments they've given or offering clients ways to solve their problems, which is impressive.

Several users have praised the broker's customer service team for helping them solve the problems.

One Nigerian investor who has experienced several well-known brokers has been using FXTM since 2021 and says he has had a good experience with the company. He finds the low spreads and wide range of trading instruments offered by FXTM very satisfying, as well as the freedom to make withdrawals. His review also serve as a reminder to other traders that FXTM charges fees for inactive accounts, so traders should remember to liquidate their accounts in a timely manner in order to avoid paying unnecessary fees.

A user from Thailand gave it a perfect score and also made some suggestions, such as adding more withdrawal bank options, adding more currency pairs and improving the user interface. FXTM appreciates the user's suggestions and offers some alternative solutions.

Problems exist

There are also users who are unhappy with FXTM. Another user from Thailand thinks that the spreads on some currency pairs are too high, and he feels that it is unreasonable that the spreads on paid accounts are higher than the spreads on free accounts. And he didn't get a satisfactory answer when he asked customer service about it. FXTM replied that although the broker trys to stabilize the spreads, this is also related to market volatility and liquidity providers.

Another investor had problems logging in. He said the system kept asking him to change the password when logging into his account, but even if he didn't get the password wrong he still couldn't log in. It was a hassle to keep recording new passwords.

Some investors complain that the payment verification process was too long.

Other negative reviews concern the problem of withdrawals, which is a theme that almost all brokers have received. One user who cited withdrawal issues was unhappy with the broker's delayed withdrawals, even though he listed some of the benefits of FXTM and eventually received his funds.

It's worth noting that there have also been some bad reviews surrounding FXTM recently, which have been more heated and scored low. However, the broker says that these reviews were not posted by "real customers".

Not perfect but acceptable

Some traders don't think that FXTM is perfect, but they don't give the broker a low score, and they do express their thoughts.

One user said that he was very satisfied with the company despite the fact that he had lost or won trades on the platform, but he also pointed out that FXTM has occasional latency problems.

For those dissatisfied with FXTM, some enthusiastic investors shared their own experiences, describing some of the reasons for the problems from a more neutral point of view and suggesting that not all problems are caused by the financial company.

The above reviews were collected from the Internet on August 7.

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