Wanna see if FXTM is a legit broker? Is FXTM safe to trade? It spread is high or low? How to deposit or withdraw?
We provide answers to all the questions in this FXTM Review.
We check FXTM licenses and regulation status. Compared FXTM’s fees like spread & commission from its live account to other 150 brokers. The time for deposit & withdrawal and many more findings you can get in this Review.
What is FXTM
FXTM is a global CFD and Forex broker, established in 2011 with headquarters in Cyprus.
The company is operating various entities and is regulated by several financial authorities, including the top-tier Financial Conduct Authority (FCA) in the United Kingdom, FSCA in South Africa and CySEC Cyprus.
|🗺️ Regulated in||UK, Cyprus, South Africa, MAutirius|
|🛡️ Is FXTM safe to trade||Yes|
|💵 EUR/USD spread||1.9 pips|
|🏦 Deposit||Cards, Bank Transfer, PayPal, Skrill, Neteller|
|💰 Minimum deposit||US$10|
|🏦 Withdrawal||Cards, Bank Transfer, PayPal, Skrill, Neteller|
|💻 Trading platform||MT4, MT5, FXTM Trader|
|💳 Trading markets||Forex, CFDs on Shares, Indices, Commodities, Cryptocurrencies|
|📈 Number of product||250+|
|📉 Live chat response||Instant and relevant answers|
License and regulation are the keys to fund security. We check two facts the broker’s background with its licenses, and how trader is protected if something goes wrong.
Is FXTM legit
FXTM is regulated and holding licenses of several financial authorities, including the top-tier UK Financial Conduct Authority (FCA).
The main entity in Cyprus is regulated by CySEC and recently received a license from the Financial Sector Conduct Authority (FSCA) South Africa.
FXTM Licenses and Regulatory status
|Entity||Registered in||Regulator||License no.||Status|
|Exinity UK LTD (ForexTime UK Limited)||United Kingdom||Financial Conduct Authority (FCA)||777911||Currently Regulated|
|ForexTime Limited||Cyprus||Cyprus Securities and Exchange Commission (CySEC)||185/12||Currently Regulated|
|ForexTime Limited||South Africa||Financial Sector Conduct Authority (FSCA)||46614||Currently Regulated|
|Exinity Limited||Mauritius||Financial Services Commission (FSC)||C113012295||Currently Regulated|
Is FXTM safe
Yes, FXTM is considered safe because it is regulated by the top-tier FCA, and additional regulators.
FXTM operates four legal and fully regulated entities for global expansion. The point of the entity also applies regulatory rules with safety restrictions to particular residents, also the amount of protection in case of insolvency.
FXTM Compensation Scheme
|Entity||Compensation Amount||Negative Balance Protection|
|Exinity UK LTD (ForexTime UK Limited)||£85,000||Yes|
|ForexTime Limited (South Africa)||No compensation||Yes|
|Exinity Limited||No compensation||Yes|
We recommend registering your account with the UK entity or, if it’s available for you as we consider this regulation the best
FXTM applies negative balance protection for all retail traders.
Markets and Products
At FXTM you can trade Forex, Spot Metals and CFDs on Stocks, Commodities, Cryptocurrencies and Indices.
From the downsides the range of each asset group instruments is rather basic.
There are two categories of Accounts in FXTM Invest Account and Trading Account.
For trading FXTM offers 3 Standard and 3 ECN accounts with different pricing models, execution, platform is the minimum deposit.
|Standard||Cent||Stock CFDs||ECN||ECN Zero||FXTM Pro|
|Minimum Deposit||$/€/£ 100||$/€/£ 10||$/€/£ 100||$/€/£ 500||$/€/£ 200||$/€/£ 25 000|
|Spreads From||1.3 pips||1.5 pips||0.1 pips||0.1 pips||1.5 pips||0 pips|
|Commissions||Zero Commissions||Zero Commissions||Zero Commissions||$2 per lot||Zero Commissions||Zero Commissions|
Investments are available via FXTM Invest Account with a profile for copy trading and selection of Top Strategy Managers.
FXTM Login is a step-by-step process for register available through the website and with access to the online account area with full management.
Fees and commissions
FXTM fee levels we ranked as average and low for ECN accounts based on the instrument and compare to 150 brokers that we check through Live account spread.
Spread for popular instruments we collect for 6 markets and 150 brokers
|Forex||EUR/USD||0.1-0.9||1-1.5||1.6 or higher|
|Indices||US 500||0.1-0.4||0.5-1.4||1.5 or higher|
|Commodities||Gold||0.1-0.4||0.5-2||2.1 or higher|
|Stocks||Tesla||0.1-0.5||0.6-1||1.1 or higher|
|ETFs||US Russell 2000||0.1-0.4||0.5-1.4||1.5 or higher|
|Cryptocurrencies||Bitcoin||0.1-0.5%||0.6-0.9%||1% or higher|
FXTM costs are mainly built into a spread depending on the account type you use for trading plus overnight charges or SWAPS. Invest account automatically charged a fee for copy trading as a portion from the profit.
Comparing the spreads derived from Standard Live Account with o commission charges to industry benchmarks, we rank FXTM Live Spread is average.
|Markets||Instruments||FXTM Spread||Other brokers’ avg spread|
FXTM non-trading fees are favorable. There is no fee for deposits, but some withdrawal methods may add on fees. Plus there is an inactivity fee of 5$ for an account deemed inactive for 6 months.
FXTM trading conditions are good various trading strategies, copy trading, scalping and hedging are allowed.
|Change Leverage Allowed||Yes|
Hedging is supported via FXTM MT5 with no time limits.
Scalping is allowed, Expert Advisors (EAs) and free VPS is included in MT5 platform, MT4 allows to connect VPS from external providers.
The use of leverage and change of its levels is included and depending on the FXTM entity, Exinity Ltd allows maximum leverage up to 1:2000 and European traders restricted to 1:30.
FXTM charges no deposit fees. You can use bank transfer, Credit or Debit cards, and various electronic wallets.
A bank transfer can take several business days, while payment with credit/debit cards is instant.
|Deposit Method||Funding Time||Fee|
|Wire Transfer||3-5 business days||Free|
|Credit Card||2 Hours||Free|
|Skrill, Neteller, DotPay||2 Hours||Free|
|WesternUnion||24 – 48 hours||Free|
The Minimum deposit depending on the account type you select, the minimum amount is 10 EUR/USD/GBP for Cent Account, other Standard Accounts demanding 100$ and ECN account minimum is set to $/€/£ 200.
FXTM charges no fees for withdrawals, but depending on the methods fees may vary.
Funds are withdrawn through My FXTM Account area using the methods as deposits. FXTM confirms and processes withdrawal requests within same business day, where additional payment provider processing may follow.
|Withdrawal Method||Withdrawal Time||Fee|
|Wire Transfer||24 hours||GBP — 25 GBP|
EUR — 20 EUR
|Credit Card||Same business day||2 EUR/ 3 USD/ 2 GBP|
|Skrill, Neteller, DotPay||Same business day||No Commission|
Same business day
There are various Bonuses at FXTM, you can receive rewards through a loyalty program and get 30% deposit bonus. Bonuses are available for Exinity Ltd traders, and EU professional clients.
FXTM offers 3 trading platforms MetaTrader4, MetaTrader5 and FXTM Trader a Mobile App for Android and iOS devices
FXTM MT4 supporting a great number of languages and accessible across all devices including Windows and Mac. The newer version MT5 supporting hedging and offered additional strategy analysis and signals.
Research and Tools
There is great range of research at FXTM.
Various tools including standard Economic Calendars, Alerts, News and market insights, and additionally you get Trading signals, MT4 Indicators and Pivot Points Strategy with Risk Management tools.
On the flip side, there is no Market research and fundamental analysis.
FXTM Research tools available on:
- FXTM trading platforms
- FXTM – Trading Tools section
FXTM education materials and content is rich.
You can learn through education videos, tutorials, detailed articles, online webinars and seminars, also regularly held contests.
On its negative side comprehensive education necessary for beginners is not provided, brokers proposal might more suit traders with experience.
At FXTM you can learn:
- Demo account and Contests
- Tutorial videos and trading guides
- Webinars and local Seminars
Demo Account is available for all offered account types across FXTM platforms. Easy switch between Live and Demo modes remains active.
FXTM customer supported we rank excellent.
There is informative FAQ section on website and customer Agents available 24/5 supporting Live Chat, various messengers. We also got clear answer on Live Chat.
FXTM Customer Support supports various languages via:
- Live chat, Messenger, Telegram,
- Phone line and Call back
FXTM Live chat response is quick speed, the chat agents are well rounded
|Question Asked||We ask about differences between account types.|
|Time of Reply||We connect to Live Chat within minutes and responses were prompt.|
|Quality of Reply||The answer is clear and detailed.|
FXTM is a safe broker to trade. FXTM has good reputation and offers comprehensive range of accounts, execution models also investment options.
Also, you can choose FXTM entity and suitable conditions, while if its possible for you, we would recommend trading with the UK entity.
We recommend FXTM for scalpers and invest traders for copy trading.
Author of this review
By Jimmy O'Brien
Author of this review
I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets.
I am passionate about observing foreign exchange movements, sharing educational insights into the financial markets, and adding value wherever I can.