Currently, there are hundreds of Forex brokers open, so choosing a reputable exchange to register is essential. There are many criteria to evaluate a broker, but with the experience of Kienthuctrade, ForexTime is the most suitable Forex broker for Vietnamese investors. In today’s article, we will guide you to open a full ForexTime account.
What is ForexTime?
ForexTime (or FXTM) was founded in 2011, is a new member to the online forex trading system. FXTM has a parent company, Alpari, which is extremely well known in the forex industry.( FXTM-broker)
Foreign exchange (also known as forex or FX) refers to the global, over-the-counter (OTC) market where traders, investors, institutions and banks, exchange, invest, buy and sell world currencies.
Trading is done on the ‘interbank market’, an online channel through which coins are traded 24 hours a day, 5 days a week. Forex is one of the largest traded markets, with a global daily turnover estimated to exceed $5 trillion.
To serve global clients, FXTM offers over 30 different types of payment methods. In addition, they have a professional and multilingual support staff available 24/7 to provide traders with the help they need.
The FXTM brand was first launched in 2011 with a single vision to provide unmatched trading conditions, advanced creation and advanced trading tools in the forex industry.(Read more : FXTM floor)
Thanks to its continued focus on localizing its products and services to each market, coupled with successful partnerships with talented and experienced teams from around the world, FXTM was quickly built into the global brand it is today.
Reasons to choose ForexTime(FXTM)
ForexTime(FXTM) was founded in 2011 by veteran investor Dash Dashin, who is also the main shareholder of online broker Apari. Since the launch of FXTM – FXTM has always expanded its trading platform to include the Meta trader 4(MT4) and Meta trader 5(MT5) applications developed by Meta Quotes Software Corporation.
Today, ForexTime(FXTM) is a popular leading broker for retail traders, FXTM offers up to 7 different account types giving traders access to 59 currency pairs, 173 stocks, 11 indices, 6 precious metals, 3 energy contracts and 3 cryptocurrencies. FXTM also offers investors the ability to copy signals from other investors.
The FXTM brand has spread to many countries around the world and has received regulatory licenses such as a CySEC license from the Cyprus Securities and Exchange Authority, an FCA license from the kingdom’s financial regulator. UK, FSCA license from South African financial regulator.
Types of Accounts
FXTM offers 2 main types of forex trading accounts, including Standard accounts and ECN accounts. Different account types require different minimum deposits. Where Standard account is divided into Standard, Cent and Shares accounts with different trading features and minimum deposit amount.
Similarly, ECN accounts are divided into ECN, ECN Zero and FXTMPro accounts, each with different spreads or commissions.
This broker also offers a demo account for those who are just starting out and want to practice trading before trading with real money.
In April 2016, the company added and supported accounts specializing in trading CFDs with shares.
Instructions for opening a Forextime (FXTM) account
Step 1: Visit Forextime’s homepage at
https://www.forextime.com/en
Currently, Forextime floor has supported Vietnamese website interface for Vietnamese customers.(Read more : Day Trading for Beginners)
Once you are on the homepage, you can either click on the “Register” button on the right corner of the screen or you can click on the box “OPEN A LIVE ACCOUNT”
Step 2: Fill in the form that appears on the screen.
Since FXTM now supports Vietnamese trading, it is very easy for you to fill in the information. After filling in the information that the website requires you to select the box “SEND PIN CODE”. A 4-digit sequence will be sent to your phone number and email. Please enter that sequence of numbers and complete the registration. Note: you need to enter unsigned Vietnamese.
Step 3: Complete your registration form
Fill in the required information. Note: You need to fill in Vietnamese without accents and in the address field you should fill in English to make your verification process faster. Once done click the Sign Up button
Step 4: Create a trading account
Account type: Select the type of account you want to trade with.
Account currency: You should choose USD for transaction convenience
Strategy Account Name: Enter your account name
Trading Account Password/Confirm Password: This is the password to log into your trading account. After registration is complete, the trading account number will be sent to your email.(Read more : forex broker)
After filling in the information, select Open an account to complete
Step 5: Instructions for verifying identity documents
To be able to verify your documents you need to log in to forex time at https://www.forextime.com/en/login
After successful login. You look to the left corner of the screen and select “My papers”. Here there will be 2 types of documents you need to verify: “Profile Verification” including verifying your identity and address and “Payment Verification” payment here is the bank account you transfer for FXTM.
Next, select “Verify Profile”. Select “Upload”
For Proof of Business, you can upload a photo of your identity card on the front or back or a picture of your passport information. You press the “Browse” button then navigate to the place to save your photo and upload it.
For proof of residence, you can use photos of bank bills, utility bills, invoices from purchases from Tiki or Lazada… including the address you registered with FXTM.(Read more :FXTM deposit and withdrawal)
Finally for the payment verification section, here you have to take a screenshot or a transfer document of the payment statement with the form you have deposited in order to verify. You only need to verify the first time with each payment method and you can use it to deposit or withdraw forever.
