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FXTM Trading Broker Review |
Conclusion
1. FXTM is an international brokerage firm established with headquarter in Cyprus and numerous entities around the world. And high focus on Africa, South Africa and Asia regions
2. Trustable company due to its regulations set by world leading regulators FCA, FSCA etc
3. MT4 and MT5 Platforms offered as a trading software available in desktop, Web and mobile versions
4. The broker offers a wide range of Forex and CFD product including Cryptocurrency
5. Some of the best organization in terms of Forex Education with Webinars, Seminars and Advanced Learning Centers available to all
6. Demo Account available with no restriction, also further FXTM offers a great range of account types suitable for various types of investors
7. Trading costs for CFD Stocks are low, yet Forex fees for Standard proposal are average
8. Various base currencies offered and supported at account preference
9. Min deposit starts from 10$ for cent account with no fees. Withdrawals are also free, however, some methods may charge fees
10. Great range of payment methods accepted for money transfers including Bitcoin, e-wallets and Credit Cards
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FXTM review 2020 |
What is FXTM?
The FXTM or Forex Time company launched in 2011 with its headquarters in Cyprus(Limassol) also authorized by Financial Conduct Authority and other regulators, been named as one of the world’s fastest growing and best forex brokers. As in a relatively short time the firm showed great and rapid growth within Europe and beyond through its focus on Africa and Asia regions.
The broker establishes its core on reliable trading conditions and detailed education and brings trading across the world with its accessible trading around the globe, regardless of the trader’s knowledge.
However, the chain of FXTM offices also established around Europe, located in the UK and maintaining entity in South Africa.
Leverage: 1:30 | 1:200
Regulation: CySEC,FCA, FSCA
Min. Deposit: US$200
HQ: Cyprus
Platforms: MT4, MT5
Found in: 2011
Founded in Cyprus and known worldwide as one of the best Forex Brokers
Regulated by the Cyprus and several Forex authorities
Numerous industry awards
Low Deposit Requirement
Tight Spreads
FXTM Licenses
- ForexTime Limited - authorized by CySEC (Cyprus) registration no. 185/12
- ForexTime Limited - authorized FSCA (South Africa) registration no. 46614
- ForexTime UK Limited - authorized by FCA (UK) registration no. 600475
- Exinity Limited - authorized by FSC (Mauritius) registration no. C113012295
Awards
From the fast client approval to the general trading process, comprehensive learnings and available features, FXTM proves its high ranking among the traders’ community with more than 90% of positive feedbacks.The numbers are actually confirmed by the large community of traders with about 750,000+ active accounts that growing, numerous attractive opportunities and gained vast awards for excellence in trading.
FXTM also proudly takes an active social role while supporting and sponsoring various world Sports alike Sahara Force India Formula 1 team and regularly reveals in the media.
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fxtm Awards |
Is FXTM safe or a scam?
ForexTime Ltd, ForexTime UK Ltd and Exinity Limited are three entities under the FXTM brand that provides trading services to more than 10,000 clients from over 135 countries around the world. And important to note comply with the necessary regulatory guidelines in every region FXTM operates, which gains a high score from us in terms of its trust.
This question is indeed the most crucial one, as investor accounts lose money and if you trade with the unregulated entity the High risk to lose funds is dramatically high.
Pros
Regulated by several authorities Cyprus CySEC
Financial Conduct Authority FCA and South Africa
Negative balance protection
Negative balance protection
Is FXTM a legit company?
Yes, FXTM is a legit broker, as each of the entities and brands that it serves is authorized and regulated by various global jurisdictions.
The main entity ForexTime Ltd is regulated by CySEC of Cyprus, authorized by FSCA of South Africa, and additional offshore authority FSC in Mauritius. Also, the FXTM UK brand is licensed by the Financial Conduct Authority known sharp regulator, which has principals built by European MiFID and ICF allowing cross broker activity.
FXTM legal entity
Investor Protection FXTM License Number
ForexTime UK Limited
Regulated by FCA (UK) registration no. 600475
ForexTime Limited
Authorized FSCA (South Africa) registration no. 46614
Authorized by Authorized by Cyprus Securities and Exchange Commissionregistration no. 185/12
Authorized by Authorized by Cyprus Securities and Exchange Commissionregistration no. 185/12
Exinity Limited
Authorized by FSC (Mauritius) registration no. C113012295
How are you protected?
Since FXTM license means its compliance with all the strict regulatory requirements, trader’s investment considered to be safe, as the broker completely segregates fundsfrom the operational funds of the FXTM while kept in leading and reputable EU banks.
In addition, FXTM is a member of the Investor Compensation Fund that compensates in case of the company insolvency, as well as protected by the negative balance protection and other requirements that are audited on a regular basis by the authority.
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fxtm security |
Leverage
When you trading with FXTM you are able to operate with fixed or floating leverage. The leverage indeed a very useful tool, especially for the traders of smaller size, as it may increase your potential gains timely due to its possibility to multiple initial account balance in a particular number of times.
What is the risk level?
Yet, remember that correct leverage should be set to various instruments, as it may increase your risk level and potential loses as well. Therefore, FXTM leverage is determined by various measures and firstly set according to the regulatory requirement in the region or another.
And then is also based on the trader experience and knowledge, so always check with customer support team first which one is applicable for you
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FXTM leverage |
So if you would like to operate under higher leverage ratios like 1:400, 1:500 or even 1:1000 you may open an FXTM account under a particular entity that allows such high leverage levels, which is offered by the global brand.
Otherwise, if you are a resident of Europe or UK, as well holding an account under European entity which obliges to ESMA regulation, the maximum current leverage ratio is set to a
1:30 on Forex instruments
1:20 Spot Metals, 1:10 XAG USD
1:20 Minor Currency Pairs
1:5 Shares
Otherwise, if you are a resident of Europe or UK, as well holding an account under European entity which obliges to ESMA regulation, the maximum current leverage ratio is set to a
1:30 on Forex instruments
1:20 Spot Metals, 1:10 XAG USD
1:20 Minor Currency Pairs
1:5 Shares
Accounts
Despite the majority, the FXTM trading accounts are truly ensuring each client convenience by separate accounts for Forex trading and Invest Accounts. Then there is a further split to your preference of the trading transactions, instrument and the trading size, which all in all offers you 6 Account types.
Making the story short, it means that if you prefer to use ECN execution you have a choice between various FXTM ECN accounts, or an option to be based on Standard Accounts with no commission and all costs built into the spread.
However, always make sure to verify under which entity you will trade as FXTM offering may be slightly different for Forextime Limited, ForexTime UK or Exinity Limited. In this FXTM review we will cover Forextime offering in detail so you would understand conditions better.
Fast Account Opening, fully Digital
• 6 Account types with ECN and Standard execution
• Great options for a particular trading style
• Low Minimum deposit
• Free deposit
Account types
So now let’s get a closer look at FXTM Standard Accounts which are divided into three options – Standard, Cent Account and Shares Account.
FXTM Standard Account – is a most balanced feature for all with floating spread from 1.3 pips, while FXTM
Cent Account is a good choice for beginners with a small deposit to start – 5$, spreads from 1.5 pips and instant execution model or Cent lots.
FXTM Shares Account
is specifically designed for traders who prefer trading on stocks over 120 US shared, allowed hedging and as spreads as low as 0.1 pips.
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fxtm account types |
ECN Accounts
The second group of accounts is known as FXTM ECN Accounts that are also split into three features integrated to specific needs.
FXTM ECN Zero Account– is a non-commissionable account with a quite low deposit of 200$ for a start, spreads starting from 1.5 pips with no re-quotes execution and allowed hedging, scalping features.
FXTM ECN – account enclose commission of 2$ per lot, but including unlimited orders and you can enjoy low spreads from 0.1 pips. And the last is FXTM Pro Account – designed for professionals with a deposit of 25,000$, but offering floating leverage, interbank spreads starting at 0 and a great variety of assets.
So as you see there are plenty of flexible choices between the best working model for you, which might be confusing at some moment but generally very well organized with or opinion.
How do I open an FXTM account?
FXTM accepts clients from almost every world country, however there are might be some restrictions due to regulations alike implemented for residents of Japan, USA, etc.
So step by step process of opening requires you to follow the FXTM sign-in link where you will be guided through a quite simple process of opening step by step.
Opening an account step by step
1. Access FXTM Sign In page
2. Enter your personal data First and Last Name, Country of residence, email, phone, etc.
3. Answer online questioner about your trading knowledge and expectations
4. Select the account type
5. Verify your account by upload of your identity confirmation. These may include residential proof, copy of your ID, bank statement etc.
6. Once an account is activated and proved you may follow with the money deposit
Fees
Getting to another important question about Fees, which are mainly built into a spread are also defined by the account type you use. In addition, you should always consider other fees like non-trading fees, withdrawal fees which we will see in detail further.
Generally, FXTM offering built through tight floating spreads while Standard MT4 spreads start from 1.6 Pips and from 0.1 pips for ECN accounts available on both platforms MT4 or MT5, but will add on a commission charge per order.
FXTM commission
So while you trade with Standard proposal there is no commission charges, as all costs built into a spread. Yet, if you select FXTM ECN account you will trade with interbank lower spread and commission charges applicable. A commission that you will be charged in case you use ECN MT4 account, is defined by the trading volume you operate see snapshot below.
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FXTM commission |
Deposits and Withdrawals
In terms of the funding methods, FXTM made it quite simple and straight forward process with a truly wide range of funding options that will assist you to find a suitable money transfer provider.
• Wide range of deposit option including Credit Card, Bitcoin
• Free deposit
• Some withdrawal methods support 0$ fee policy
Deposit options
In order to fund an account or to send money to it you may choose among the following methods, which may also vary according to your country of origin. Also, FXTM is really quick with your deposit processing, as it mentions within 2 hours money will be available at your account so you may start trading instantly.
Credit cards
Bank wire transfers also with the possibility to perform a local bank transfer. Alike you can choose transfer via Deutsche Handelsbank (accepting deposits in EUR) and Rietumu Banka (using GBP, PLN, USD, EUR, RUR)
E-wallets (Neteller, Skrill, Alfa-Click, WebMoney, Western Union, Dotpay, Yandex money, Qiwi wallet, Bitcoin via Skrill, and counting)
What is the minimum deposit on FXTM?
The minimum deposit requirement for you to start trading at FXTM is set to as low as the $/€/£ 100 available for Account Standard and only 10$ for a Cent Account. Also, all deposit fees are covered by the company which is great for your smart money management.
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fxtm minimum withdraw |
How do I withdraw money from FXTM?
Once you decide to withdraw money from you account you obviously should submit an online request and follow with the required procedure. To make it short you simply should follow the following steps
Login to your account in MyFXTM and go to Withdraw page through My Money
Select the withdrawal method, required amount and click ‘Withdraw’ Complete the withdrawal request along with PIN that will be sent to your email or phone via SMS
Confirm withdrawal and Submit
How long does it take to withdraw from FXTM?
From the moment you submit and confirm the request to withdraw money from your account the accounting department of FXTM typically processed and confirm withdrawal within 2 business days.
Yet, you should always consult with customer service and confirm data, as various jurisdictions may apply slightly different rules. Also, give it some days for the payment provider to process the transaction that also depending on particular international or provider rules.
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fxtm withdraw |
Withdrawal fees
FXTM withdrawal fee applied to some of the payment methods, while others may be provided with 0% commission.
Since the variety of payment methods truly widely presented, the withdrawal fee varies from one option to another. As an example, Credit Cards withdrawal features 3$ fee, while Bank Transfer will cost 30$, and WebMoney will charge 2% above the requested amount. However, these withdrawal fees still considered to be on a low level comparing to other industry offerings.
Bonus
Another great possibility offered by FXTM is an option to get Bonus through frequent promotions and cashback programs broker offers.
Does FXTM have Bonus?
Yes FXTM offers Bonus programs. However, the Bonus program is strictly available only for the international brand of FXTM and those clients that are trading or holding an account with Exinity Limited, registered under the laws of Mauritius.
How do I claim my FXTM bonus?
So if you open an account with the international entity of FXTM you may claim your bonus according to the recent promotions FXTM runs.
At the time of the FXTM Review writing, you may claim Welcome Bonus and earn 30$ tradeable credit, while you should register for an account then select the 300$ bonus promotion, deposit funds and start trading. Also note, every bonus program applies specified terms and conditions on how it should be used or accessed.
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fxtm bonuses |
Market Instruments
Generally speaking, FXTM offers good range selection of markets and account features among the industry brokerage offering.
The trading markets include 250+ financial instruments, Forex products with over 50 currency pairs including attractive FXTM CFDs on Cryptocurrencies such as Bitcoin, ETH, Litecoin, Ripple. Also, you may select spot metal CFDs, share CFDs on over 170 major companies, CFDs on Commodities and CFDs on Indices.
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fxtm Market Instruments |
FXTM Markets compared to similar Brokers
It is also good to compare FXTM to other industry offerings, so in the table below you may see available assets and instruments.
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FXTM Markets compared to similar Brokers |
FXTM Trading Platforms
FXTM trading technology and toolbar use the industry’s leading software third party providers, which doesn’t require a presentation, as these platforms are MT4 and MT5. However, a progressive technology of the MetaTrader was combined with FXTM’s unparalleled trading services that allowing smooth operation and enhancing your trading capabilities all in all making trading powerful processes.
Web Trading Platform
Since the FXTM platform is MT4 or MT5 software both offers various versions available either as WebTrading platforms or the one that can be installed directly at any device. Web trading software is a great option if you are a beginner or regular size trader, as platform accessible right from the browser, does not require any installation, easy save and navigated.
Look and feel
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fxtm web trading platform |
•Customer-friendly design
•The comprehensive range of tools
•Automated trading capabilities
•Clear look and fee report
•Industry leading software that does not require familiarization
•Tons of education material and automated strategies available
Mobile Trading Platform
Of course, FXTM offers applications for mobile or tablet devices, so you will always have access to your account at personal convenience. Design is clear and customizable which is always good, yet app packed with tools and alerts so you always remain updated.
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FXTM placing of order |
Social Trading
In addition to its powerful feature and clear possibility to monitor markets the FXTM platform also enables automated trading which is the execution of orders automatically according to the implemented strategy.
Or you may use the powerful capability of Social Trading alike becoming an investor, this option allowing you to follow ranked strategy managers which you can choose through numerous criteria or filters to follow. In reverse, professionals may become managers and gain extra income by being copied.

fxtm social trading
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fxtm social trading |
Customer Support
Another good point in its client-oriented philosophy of FXTM operation is a competent customer service that is available through various sources including Online Live Chat, Phone, emails, Messenger applications etc.
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FXTM sponsorship |
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