Exinity UK Review

Is Exinity Available in UK?

Yes, Exinity (formerly Forextime) is available in the UK. They are registered with the FCA as Exinity UK LTD

How Much is Exinity Minimum Deposit?

Exinity minimum deposit is $200

How Fast is Exinity Withdrawal?

Card, e-Wallet & Bank withdrawals take 24 hours,

How to use Exinity Pip Calculator

The FXTM Pip calculator tells you the amount you will profit or lose every time the price of the currency pair you're trading changes by 1 pip.

To get started you input some parameters including the lot size

if you're trading 1 standard lot you simply enter "1" into the trade size box and set pip amount to "1" and the result is "$10".

This means you profit or lose $10 every time the price of the currency pair moves by 1 pip.

FXTM Account Types

Advantage Account

This account has zero spread & commission of $3.5 per lot traded on major forex pairs

Advantage Plus Account

This is a commission-free account but the spreads are higher starting from 1.5 pips.

FXTM Demo Account

This is an experimentation account for learning & here any profit/loss you make is not real.

Frequently Asked Questions

Is Forex Trading Halal (Lawful)?

Yes, forex trading is halal or lawful as long as you open & trade with an Islamic Account, so that you don't earn any interest.

Forex trading with an Islamic Account is just like the normal buying & selling businessmen do in the everyday markets.

There are several Islamic countries where forex trading is halal & regulated by the Islamic governments in charge. These countries include the United Arab Emirate, Pakistan, Kuwait, Saudi Arabia, Indonesia, etc.

In the United Kingdom, all forex brokers offer Islamic Accounts so you can opt for one.

Is Forex Trading Profitable?

Yes, forex trading is profitable but only about 10% of traders are profitable. The amount of profit you make also depends on the lot size you trade.

When you trade standard lots (100,000 units per lot), you make a profit of $10 every time the currency pair price appreciates by 1 pip.

However, when you trade a mini lot size (10,000 units per lot), you earn a smaller profit of $1 every time the price appreciates by 1 pip.

Another factor that affects profitability in forex is the spread. If the spread is too high, you face a tall barrier to reach profitability. Your trade begins in a loss which represents the spread & you must break even to become profitable.

Trading experience & knowledge also determines profitability as beginners are bound to be less profitable than experienced traders.

What is Spread in Forex?

Spread is an adjustment your forex broker makes to the price of an instrument, so the broker can make a profit each time you trade.

The buy price is increased (so you pay more) & the sell price is reduced (so you are paid less).

What is Swap in Forex?

Swap in forex means the cost you pay to keep your trade open overnight. Day traders don't have to worry about swap because they close their trades before midnight.

Swap can either be earned or paid & this is important to remember.

Firstly, because forex trading using CFDs or spread bets involves borrowed funds from your broker (due to leverage) you must pay interest every night.

Secondly, because each currency in a pair has their own interest rate set by the central bank of the issuing country. If the interest rate of the currency pair on the right is lower than that on the left, you earn an interest.

However, if the interest rate of the currency on the right hand side is higher than that on the left, you pay interest. This is known as a carry trade in forex.

This example applies to a long carry trade, but if you are taking a short carry trade, the reverse is the case.

You earn a swap if the overnight interest you pay on the loan is lower than the interest differential you earn.

What Time Does The Forex Market Open UK?

The forex market is open 24 hours a day but closes on weekends. However, according to our Forex Market Hours Tool, the London session starts by 7am GMT and ends by 5pm GMT.

during the London session, you see peak activity early in the morning between 7am & 8am , and also in the afternoon between 2pm & 5pm when London & NY sessions overlap.

What Is Deviation in Forex?

When forex traders talk about deviation, they are referring to the extent by which the current price of a currency pair, has strayed away from its average price taken over a historical period (usually 14 days).

Technical analysts believe that after price has strayed very far away from its historical average, it will always come back to the average. This is known as the theory of mean reversion