Review: More than 2 million traders throughout the globe rely on ForexTime's services. It's a site similar to OctaFX.
ForexTime: FXTM is owned by Andrey Dashin, who also founded one of the world's first retail forex brokers back in the early 2000s called Alpari.
There is really nothing that sets ForexTime apart from other brokers in the industry.
Meaning, once you register an account; someone from their sales department would immediately call you 10 times until you pick up the phone.
Their sales executive will push you to deposit there and then, so that he or she can earn a commission.
Customer service is also so-so.
They do have thousands of traders from many countries including Qatar.
Their main marketing strategy is targeting newbie investors towards forex and crypto trading through seminars.
Review: They also sponsor lots of sporting events.
Being a Russia-origin broker that is based in Cyprus, FXTM is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12.
Other licensing jurisdictions include the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614; and the Financial Conduct Authority with license number 777911.
Given the choice, I would give this one a miss.
There are plenty of better brokers available for trading forex, cryptocurrencies and CFDs.
Yes, the official website and app of this broker is safe, legit and trustworthy for online forex and cryptocurrency trading in Qatar.
Founded in 2011, broker FXTM is an abbreviation for "ForexTime."
Review: The Micro account has a $10 minimum deposit, making it easy for beginning traders to learn the fundamentals of trading and understand the workings of the Forex market without making substantial commitments.
When it comes to providing the finest possible trading conditions for its customers, ForexTime is a forward-thinking broker that actively employs cutting-edge technology.
Both new and seasoned traders may benefit from ForexTime.
Review: The company's services are available in 150 countries, and all customer monies are stored in separate accounts to guarantee complete protection.
Review: The broker's main goal is to work with both active and passive
ForexTime is always trying to improve trading conditions.
Review: Beginners may open a cent account with as little as a $10 deposit.
The leverage ranges from 1:3 to 1:2000, depending on the kind of account and trading assets, for trading in micro lots. Starting at 20%, stop-outs increase in percentage until they reach 50%.
The Advantage account has a spread of 0.0 pips from the outset.
Review: Spreads for Micro and Advantage Plus accounts start at 1.5 pips.
Each kind of account has access to Forex instruments and metals.
Micro account transactions are completed instantly, however transactions on other account types must be completed in the market.
If you want to withdraw money from your trading account, you'll have to pay a fee that varies from 0.5 percent of the withdrawal amount to €30, but there are no hidden costs at all.
There is a $0.4 to $2 per lot fee for Advantage account spreads, yet the trader gets 0.0 pip spreads.
Review: Withdrawal fees vary depending on the kind of payment method used by the trader, and FXTM provides its customers an average commission.
One of the broker's top focuses is using cutting-edge technology to expedite the execution of orders.
CFDs on worldwide and European stock markets may also be traded here, as well as currency pairings.
It has been in business on the foreign exchange market for almost a decade now.
Review: As far as trading terminals go, the firm provides both MetaTrader 4 and MetaTrader 5. Mobile devices may access both platforms, allowing traders to trade on the go using the device that is most convenient for them.
There is an FXTM Trader app that may be used to trade on a mobile device.
A practise account is also available at ForexTime. Traders may use it to test the terms and techniques of the company's trading platform.
ForexTime is a company that aims to work with currency traders of all levels of experience and expertise, regardless of their preferred trading methods.
Review: It is possible to make a withdrawal using a bank card (Maestro, Visa or MasterCard), an electronic payment method (Skrill/Moneybookers, Neteller, Dotpay), or a bank transfer.
Banking services like bank transfers and credit/debit cards/e-payment systems allow for withdrawals in as little as one business day.
Review: These currencies may be used as a means of depositing and withdrawing funds from your account in your choice of the following: EUR; INR; USD; GBP; PLN; NGN; CZK.
It may take some time to authenticate a trader's account before he or she may cash out his or her winnings.
Review: To open an account, fill out the required information and create a password to begin the registration process. A PIN number will be given to your phone and/or email when you've completed the registration questionnaire.
You must now complete your profile by providing personal information, such as where you got the money.
Your personal account will be created after completing the registration process, and you will be able to access the following features: If you want to trade stocks, you should have an online trading account. Make monetary transactions (deposit, withdrawal, and transfer of funds between accounts).
In addition to live online webinars and local seminars, videos, and tutorials, FXTM provides outstanding instructional materials for beginning traders.
Review: With FXTM's vast library of educational materials, rookie traders can't go wrong.
Tight spreads and direct market access through an electronic communications network (ECN) are attractive features for experienced and high-volume traders. In addition to the limited market trading margins, the ECN account charges a tiny fee.
Review: FXTM can meet your demands and offer outstanding forex brokerage services regardless of your level of experience, whether you're just getting started in forex trading or have been doing it for years.
Learn more about Forex.
Sites like ForexTime in Qatar
The companies listed in this section provide free registration and forex account opening for the residents:
- Olymp Trade: Crazy popular in Qatar, only God knows why. Thousands of Qatari residents have opened trading accounts at this online broker for some reason. (Olymp Trade Review)
- Ahli Brokerage: Backed by Ahli Bank, their brokerage competes indirectly with Doha Bank's and CBQ's retail trading segment. (Ahli Brokerage Review)
- ADS Securities: Started in 2011, regulated by the Securities and Commodities Authority – UAE; this broker is stationed in Abu Dhabi. (ADS Securities Review)
- Commercial Bank of Qatar: Provides local shares trading in the Qatar Stock Exchange (QSE). (Commercial Bank of Qatar Review)
- Amana Capital: They have offices in the United Kingdom, United Arab Emirates, Lebanon, Cyprus and Malaysia. (Amana Capital Review)
- QNB Financial Services: Qatar National Bank's brokerage services are mainly aimed at foreign institutional investors, mutual funds, domestic institutional investors, high net-worth Qataris, retail and corporate clients. (QNB Financial Services Review)
- Pepperstone: Started its operations in 2010, and is headquartered in Australia, and this is also where most of their forex trading clients reside. (Pepperstone Review)
- Forex.com: Started by GAIN Capital, this broker has been around a while and gets pretty high ranking in Google also (because of its default website name). (Forex.com Review)
- One Financial Markets: AxiCorp (Axitrader forex broker) owns this brand. (One Financial Markets Review)
- Dukascopy: A Swiss bank that focuses on providing financial trading and investment services, way more than what it's mandated to do by The Swiss National Bank, which is to offer its clients retail banking accounts. (Dukascopy Review)
- Plus500: They have been providing online CFD trading services in the Middle East including Qatar for over 10 years now. (Plus500 Review)
- Avatrade: Although this broker is primarily Israeli, their base of operations has been Dublin, Ireland for quite a number of years now. (Avatrade Review)
- HYCM: HYCM or Henyep Capital Markets has been in business for over 40 years, starting its operations back in 1977. (HYCM Review)
- eToro: An Israeli social trading broker with tens of thousands of clients from all over the world. It's also fairly popular in Qatar and competes with brokers like the IQ Option and Olymp Trade. (eToro Review)
- XM Markets: No one really knows which country this broker started its operations from or who really owns it, but it does spend a tremendous amount of money on Google and YouTube ads to promote their brand name. (XM Markets Review)
- IQ Option: Israeli broker that has a popular trading app on both Google Playstore and Apple App Store. (IQ Option Review)
Written by Tariq AlKhaldi
A professional Banker and a part-time writer of financial topics. I'm energetic and highly committed having 10 years of Islamic Banking experience. Full Bio.
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