FXTM Review: 5 facts to consider (February 2023)
Following its exponential growth on the European market and beyond, it would not be an exaggeration to say that FXTM quickly became one of the best known and most trusted brands in the forex industry.To get more news about fxtm review, you can visit wikifx.com official website.
Using innovative technologies and products, FXTM gained recognition on highly competitive financial markets and has been continuously acknowledged by multiple awarding bodies.
The broker has won more than 25 industry awards, among which ‘The Best Trading Experience Broker’ by World Finance for three consecutive years – 2021, 2020 and 2019, ‘The Best ECN Broker for 2020’ by Daytrading.com, ‘The Best Trading Conditions Broker’ for 2019 by World Finance Awards and’ The Best Customer Service Global Broker’ for 2017 by World Finance.
Launched back in 2011 by the owners of Alpari International, currently FXTM is a global leader in online trading offering excellent trading conditions, advanced education for beginner and experienced traders alike, and the best trading tools one can possibly hope for. FXTM services well over 4 million clients in some 150 countries around the world.
The FXTM company and safety of funds
The comprehensive regulatory background makes FXTM undeniably one of the most secure brokers on the forex market today.
FXTM operates under the umbrella of Exinity Group, which also represents Alpari International. In different regions around the world FXTM is represented by its subsidiaries:
ForexTime Ltd, based in Cyprus and regulated both by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 185/12, and the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614;
Exinity UK Limited, based in London and authorized and regulated by the Financial Conduct Authority (FCA) in the UK with license number 777911;
Exinity Limited, registered in the Republic of Mauritius and regulated by the Financial Services Commission (FSC) of the Republic of Mauritius with an Investment Dealer License with license number C113012295;
Exinity Capital East Africa Ltd, registered in Nairobi, Republic of Kenya and regulated by the Capital Markets Authority (CMA) of the Republic of Kenya as a Non- Dealing Online Foreign Exchange Broker with license number 135.
Under the guidelines of the European Securities and Markets Authority (ESMA) all brokers operating in the European Union should be licensed by at least one official national regulatory institution as for example the Cyprus Securities and Exchange Commission (CySEC) – as a matter of fact one of the most popular regulatory destinations in the forex industry. On our next screenshot you may take a look at the FXTM’s CySEC license.
The EU market is considered one of the most strictly regulated ones, when it comes to forex and CFD trading. Apart from being required to hold all clients’ money is segregated, protected from creditors, trust accounts, all EU brokers are also required to provide traders with a negative balance protection, meaning that no one can lose more money than what he or she has initially deposited.
On top of that all EU brokers should be holding at all times no less than 730 000 EUR, designated as a minimum operational capital, with which to cover all outstanding payments towards traders.
And we should not forget the special client compensations schemes, where all EU brokers are also obliged to participate, and which basically insure your trading account up to a certain amount – in the case of CySEC up to 20 000 EUR – payable in the unlikely event your broker files for bankruptcy.