CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Like most brokers, ForexTime takes a fee from the spread, which is the difference between the buy and sell price of an instrument.
The commisions and spreads displayed below are based on the minimum spreads listed on ForexTime’s website. The colour bars show how competitive ForexTime's spreads are in comparison to other popular brokers featured on BrokerNotes.
|EUR/USD (Average: 0.7 pips)||1.7 pips + $4.00||0.7 pips||0.1 pips|
|GBP/USD (Average: 1.1 pips)||2.6 pips + $4.00||1.7 pips||0.1 pips|
|USD/JPY (Average: 1.1 pips)||2.5 pips + $4.00||0.6 pips||0.1 pips|
|AUD/USD (Average: 0.8 pips)||1.8 pips + $4.00||0.6 pips||0.2 pips|
|USD/CHF (Average: 2.3 pips)||2.0 pips + $4.00||2.3 pips||0.2 pips|
|USD/CAD (Average: 2.9 pips)||2.0 pips + $4.00||0.5 pips||0.3 pips|
|NZD/USD (Average: 3.6 pips)||2.0 pips + $4.00||2.8 pips||0.3 pips|
|EUR/GBP (Average: 2.4 pips)||2.2 pips + $4.00||0.5 pips||0.1 pips|
Spreads are dynamic and are for informational purposes only.
As you can see, ForexTime’s minimum spread for trading EUR/USD is 1.7 pips - which is relatively high compared to average EUR/USD spread of 0.70 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with ForexTime vs. similar brokers.See all Spreads
If you were to buy one standard lot of EUR/USD (100k units) with ForexTime at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $1.62. Here’s a rough breakdown of the fees and how this compares against XTB & AvaTrade .
|Spread from:||$ 1.00||$ 2.00||$ 7.00|
|Total cost of a 100k trade:||$ 1.00||$ 2.00||$ 7.00|
|$1 more||$6 more|
|Visit ForexTime||Visit XTB||Visit AvaTrade|
All fees/prices are for informational purposes and are subject to change.
ForexTime offers over 249 different instruments to trade, including over 57 currency pairs. We’ve summarised all of the different types of instruments offered by ForexTime below, along with the instruments offered by XTB and AvaTrade for comparison.
|FX / Currency CFDs||ForexTime||XTB||AvaTrade|
|# of forex pairs offered||57||48||59|
|Major forex pairs||Yes||Yes||Yes|
|Minor forex pairs||Yes||Yes||Yes|
|Exotic forex pairs||Yes||Yes||Yes|
|# of commodities offered||0||21||16|
|Index & Stock CFDs||ForexTime||XTB||AvaTrade|
|# of stocks offered||173||1606||99|
|See ForexTime's Instruments||See XTB's Instruments||See AvaTrade's Instruments|
ForexTime also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.See ForexTime's platforms
With ForexTime, the minimum and maximum trade requirements vary depending on the trader and the instrument. As ForexTime offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you’re paying to execute your trades.
As a market maker, ForexTime may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades.
As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.
ForexTime also offers a number of useful risk management features, such as stop losses (with trailing stops), limit orders negative balance protection price alerts and much more. You can see all of the account features offered by ForexTime here.
Finally, we’ve listed some of the popular funding methods that ForexTime offers its traders below.
ForexTime support a wide range of languages including Italian, Malay, Polish, Dutch, English, Arabic, Chinese, Czech, Indonesian, Russian, Serbian, Slovak, Spanish, French, German, and Greek.
ForexTime has a BrokerNotes triple AAA support rating because they offer a wide range of languages and support options.
As ForexTime is regulated by CySEC , every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:
You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.
While you might be able to explore ForexTime’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.
To start the process of opening an account with ForexTime you can visit their website here.
CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from http://www.forextime.com/ on 01/11/2020.