FXTM Broker Review For 2024

FXTM Basics

🏛️ Based in	Limassol, Cyprus
⚖️ Regulation	CySEC, FCA, FSB
💰 Minimum Deposit	$50 (20000 Naira)
💳 Deposit Options	VISA, MasterCard, Bank Wire, Skrill, Neteller, Fasa Pay, Perfect Money.
💳 Withdrawal Options	VISA, MasterCard, Bank Wire, Skrill, Neteller, Fasa Pay, Perfect Money.
📌Open an account	Start Trading with FXTM

Our Opinion About FXTM

FXTM is a regulated forex broker. The company was first launched in 2010 and is now one of the biggest brokers in the industry. They operate in countries all around the world and have earned the trust of over 4,000,000 clients. FXTM offers an excellent online trading experience. They have also won several forex awards in recognition of their great trading services and trading platforms. 

As a reputable forex company, FXTM ensures that it offers a high level of security and client fund protection. They also ensure they operate based on fairness and transparency a top priority. They offer a great range of trading products. Their three  trading accounts all come with  fast trade execution and low trading costs. They also come with a large selection of trading instruments including many fx pairs. The accounts also have  great trading conditions including tight spreads, good leverage, and low commission fees. 

As an industry-leading forex broker, FXTM aims to offer the very best in trading technology and trading platforms. They offer trading on both MT4 and MT5 – two of the best platforms in the industry. They also offer a nice range of trading tools including forex signals, chart indicators, and VPS services. If you’re looking for more trading support, they also have free market research and a wide range of trading materials. Could this be the right broker for you? Let’s find out.

Regulation and Safety

When looking for a forex broker, it’s important to check whether or not the company you choose is regulated. FXTM is a regulated online forex broker. This means that they are registered with the appropriate financial authorities and operate in accordance with all regulatory requirements. They have licences from several different regulatory authorities. Here is the full list:

• Cyprus – ForexTime Limited is licensed by the Cyprus Securities and Exchange Commission (CySEC), under licence number 185/12.
• UK – ForexTime Limited is licensed by the UK Financial Conduct Authority, with licence number 600475.
• Mauritius – Exinity Limited is licensed by the Financial Services Commission of the Republic of Mauritius, under licence number C113012295.

Regulation In Europe

European clients can register for a trading account with the ForexTime Limited subsidiary, which is regulated by the Securities and Exchange Commission in Cyprus.. This means that European clients can trade with a much higher level of client fund security, as well as with negative balance protection.

FXTM Fund Safety

FXTM is a respectable and trustworthy online forex broker. Client fund safety is one of their top priorities and they operate in line with all regulatory requirements for forex brokers in Europe. They operate based on a segregated account policy. This means that client funds are held separately from company funds, and are never used for company purposes. FXTM also operates based on a negative balance protection policy. This means that negative balance protection is offered  to all European traders as standard, and that FXTM This means that FXTM never lets account balances fall below zero. 

FXTM Awards

When choosing a broker, it is worth checking to see if they have ever won any forex awards, and whether other people in the forex industry think that they are a good broker. FXTM has been awarded several prizes for its products and its online trading services. They are well-known in the forex industry for offering both great trading conditions and great customer support. Their most recent forex awards include:

• Best Trading Experience 2021 (World Finance)
• Best Education Provider Nigeria 2021 (World Business Outlook)
• Best Trading Platform Nigeria 2021 (World Business Outlook)
• Most Trusted Broker Nigeria 2021 (World Business Outlook)
• Best European Forex Affiliate Broker Programme 2019 (Global Forex Awards)
• Best Trading Conditions 2019 (World Finance Awards)
• Best investment Broker 2019 (World Finance Awards)
• Best Forex Education Provider Africa 2018 (International Business Magazine)
• Best Trading Conditions 2018 (World Finance).

FXTM: Legit or Scam?

FXTM is a legit forex broker. They offer a great online trading provider, and offer their services to more than 4,000,000 forex traders worldwide. They are a well-established country and have been operating globally for many years. They are licensed by some of the top regulatory authorities in the world, including CySEC,  and respect all European regulatory guidelines. In terms of their trading products, they have excellent trading accounts and good trading conditions. They also have convenient payment methods and good client fund security. In our opinion, they are a reliable forex broker.  

Trading Assets

FXTM offers trading on many financial markets. They have 200+ trading instruments including currency pairs, precious metals, commodities, stocks, and indices. 

Trading Instruments

• Forex pairs: FXTM has the popular forex pairs. You can start trading 60 forex pairs including majors, minors, and exotics pairs. 
• Spot Metals: FXTM several options for spot metals. You can choose from any of their silver and gold crosses with the EUR, USD, and GBP. 
• Spot Indices: FXTM offers a small number of stock indices. You can start trading 11 spot indices, including the UK100, Dax30, and the AUS200.
• Stock CFDs: FXTM offers a good choice of stock CFDs, including popular US tech companies and multinational energy companies.
• Commodities: FXTM only has trading on 3 spot commodities. You can try trading UK Brent, US Crude, and US Natural Gas.

FXTM Account Types

When choosing a forex broker, it’s important to research their trading accounts and see if they offer good trading conditions. As part of our FXTM broker review, we’ve tried to help you with this process. FXTM has three main options when it comes to trading accounts. These are the Micro account, the Advantage account, and the Advantage Plus account. If you’re looking for other options, they also have a demo trading account, an Islamic swap-free account, and a PAMM trading service.

Type	Spreads	Min. Deposit	Max. Leverage	Commission
Micro	From 1.5 pips	$10	1:1000	$0
Advantage	From 0.0 pips	$200	1:3000	$0.4-$2.0
Advantage Plus	From 1.5 pips	$200	1:2000	$0

Micro Account

FXTM is one of the top brokers in Europe when it comes to micro trading accounts. They are a good option for new forex traders who only want to deposit a small amount of money to start with. Their trading conditions are quite good and they have low trading costs. For example, the FXTM Micro Account has an average spread of 1.5 pips on EUR/USD. It also has zero commission trading on forex pairs. The FXTM leverage is in line with EU standards, and available up to 1:30 for forex pairs. The FXTM minimum deposit for this account is $10.

Advantage Account

FXTM is also one of the top forex brokers in Europe for pricing. They are a great choice for intermediate traders who want fair trading conditions and minimal trading costs. For example, the FXTM Advantage Account has an average spread of 0.0 pips on EUR/USD, and a variable commission of $0.4 to $2.0 per side. It also has the standard EU leverage and you can trade with up to 1:30 on forex pairs. The FXTM minimum deposit for this account is $200.

Advantage Plus Account

FXTM is a great forex broker for expert traders who want competitive spreads. Their Advantage Plus Account has some of the best trading conditions in the industry. For example, it has an average spread of 1.5 pips on EUR/USD, and it also has zero commission trading. It also has the standard EU leverage and you can access up to 1:30. The minimum deposit is also $200 on this account too. It is worth noting that the FXTM Advantage Plus account is available on both MT4 and MT5.

Demo Accounts

Like many forex brokers in Europe, FXTM provides a free demo trading account. This is a very useful account,, especially when you’re new to trading, and is often the best place to start. With a demo account you can learn how to use trading platforms to analyse the markets and make your trades. You can also learn how to use different trading tools and how to make more advanced trading strategies.

FXTM demo accounts come with a virtual balance, instead of real funds, which means you can practise your trading skills in a risk-free environment, without having to deposit any of your own money. The FXTM demo accounts are also available for many months, and your account will continue to stay active for as long as you need, provided you log in and practise at least once a fortnight.

PAMM Accounts

Like many other European forex brokers, FXTM offers a PAMM trading account service. This means that expert forex traders can offer to manage accounts for other people, in exchange for a small commission fee. To find out more about the FXTM PAMM account trading service, and how to get a managed account, you can contact the FXTM customer support team.

Islamic Accounts

FXTM trading accounts are also available as Islamic swap-free trading accounts. This is to ensure they can offer services to all forex traders. When the swap-free mode is on, it means that the trading accounts will not accrue interest for positions held overnight. Therefore, the accounts are compliant with the no-riba tenets of Sharia law.

FTXM Leverage

Traders in Europe can get leverage of up to 1:30 on forex pairs.

FXTM Spreads

Traders in Europe can enjoy access to low spreads. The FXTM spreads are different for each account type. For example, you can get spreads from 1.5 pips on EUR/USD on the FXTM Micro account and the Advantage Plus account. You can also get spreads from 0.0 pips on the FXTM Advantage Account.

FXTM Commission

Traders in Europe can enjoy low commission trading. The commission fee is different for each account type. For example, you can get zero commission trading on the FXTM Micro account and the Advantage Plus Account. However, on the FXTM Advantage Account, you need to pay an average of between $0.40 and $2 commission.

FXTM Registration: How To Open An Account

As part of our FXTM broker review, we have had a look at their account registration process. If you live in Europe, then you can open an FXTM trading account under their ForexTime subsidiary. This means you can get access to online trading conditions and good client fund protection. The account registration process is quite simple.

The first step is to visit their website and complete the online registration form. This is so that FXTM can gather some personal information and start to create your online trading account. The next step is to complete their online trading quiz. This is so that FXTM can find out how much you know about trading and decide if their services are right for you. If you pass the quiz, you can continue with your account application. The final step is to go through the KYC (KNow Your Customer) process, submit copies of your documents, and choose a trading account. This is so that FXTM can complete their regulatory checks and finish setting up your account. After that, you can fund your account, using your chosen FXTM payment method, and start trading.

FXTM Registration: How To Verify An Account

To verify your trading account, you’ll need to send FXTM a proof of ID and a proof of address. This is so that they can confirm your identity, based on the information provided during your application, and approve your account. This process is sometimes also known as the KYC process, or the account verification process, and it is a legal process that all European forex brokers need to follow.

The FXTM KYC process is fairly straightforward. They can accept copies of your National ID card, Passport or Driving License as proof of ID. They can also accept copies of a utility bill or a bank statement as proof of address. After you have sent them copies of the documents, and finished verifying your account, you can add funds and start trading.

FXTM Base Currencies

FXTM has four base currencies. They are USD, EUR, GBP, and NGN.

FXTM Payment Methods

FXTM Deposits

When choosing a forex broker, it’s important to check what payment options they allow. FXTM has several deposit options. You can deposit money into your account using a debit card, credit card or bank transfer. You can also fund your trading account using other FXTM deposit methods such as Skrill, Neteller, Fasa Pay, and Perfect Money. FXTM does its best to make funding your trading account as easy as possible, and does not charge any additional deposit fees.

FXTM Deposit Rates – How Long Does It Take

The deposit rates are usually quite good and it does not take long for the money to appear in your trading account. For example, if you deposit money via debit card and credit card, then the deposit transaction is processed within two hours. Whereas if you deposit money via Skrill and Neteller, then the deposit transaction is processed instantly.

FXTM Minimum Deposits

Their minimum deposits are quite low . The exact amount depends on which trading account you choose. For example, there is a $50 minimum deposit on the Micro Account. However, there is a $200 minimum deposit on the Advantage Account and the Advantage Plus Account. A $50 deposit is fairly high compared to other European brokers, but well worth it for the high quality service.

FXTM Withdrawals

Withdrawal Methods

When choosing a forex broker, it’s important to check which withdrawal methods they offer, as they can vary from one country to another. FXTM has a few withdrawal options. You can request withdrawals to a debit card, credit card or bank transfer. You can also request withdrawals to Skrill, Neteller, Fasa Pay, and Perfect Money. It’s also important to check which withdrawal methods brokers charge for. And FXTM does apply a small withdrawal fee.

Withdrawal Times

FXTM does their best to ensure that you get your money back quickly. The withdrawal time does depend on your payment method. For example, if you request a withdrawal via debit card or credit card, then the request is processed within two to three working days. If you request a withdrawal via wire transfers, then the request is processed within 24 hours. And if you request a withdrawal via Skrill and Neteller, then the request is processed within one to two working days.

Withdrawal Fees

There are some withdrawal fees. The exact amount varies depending on your payment method and the amount of money you want to withdraw. For example, there is a small $3 fee for withdrawals made via debit card or credit card. And there is a $10 fee for withdrawals made via wire transfers. Withdrawals made via Skrill or Neteller are free.

FXTM Trading Platforms

You can trade using the FXTM MT4 and MT5 platforms. They are available on desktop, tablet, and mobile.The trading conditions you get on your platform vary slightly depending on which account type you choose.

MetaTrader4 (MT4) is a trading platform widely used by new and intermediate forex traders. It was developed by a company called MetaQuotes and was first launched in 2005. It is free to use and comes with helpful online trading tools. You can use the FXTM MetaTrader4 platform to trade all of the top CFD trading instruments including forex, shares, and indices. You can also use it to access advanced charting tools, 4 order execution types, 30 technical indicators and 23 analytical objects. As such, it is a great platform for analysing the markets and managing your trades..

MetaTrader5 (MT5) is another trading platform widely used by intermediate and advanced forex traders. It was also developed by MetaQuotes and was launched slightly later in 2010. It is free to use and comes with many additional features. As with MetaTrader4, you can use it to access and trade all your favourite trading instruments. The FXTM MetaTrader5 platform also has a large number of trading tools including 6 order execution types, 38 indicators, and 37 analytical objects. As such, it has better functionality and it is a great platform for implementing more advanced trading strategies.

FXTM Trading Tools

FXTM has a great selection of online tools to help you with your forex trading. You can choose from trading signals, trading strategies, and trading calculators. You can also try out their MT4 indicators and their VPS service.

• Trading signals – FTXM gives you access to free forex trading signals. These trading signals are developed in-house by a team of market experts.. They cover a large range of forex pairs enabling you try out different strategies. They also come with recommended take-profit levels and stop-loss levels enabling you to fully plan your trades.

• Trading strategy – FXTM gives you access to a free forex trading strategy. It is called the FXTM Pivot Points Strategy. The strategy is also managed in-house by a team of trading experts and is designed to help you understand market sentiment and price direction.

• MT4 Indicators – FXTM provides several additional MT4 indicators including a Spread Indicator and an Order Indicator. These indicators are designed to help you study the markets, spot key market trends, identify new trading opportunities, and manage your trades more effectively.

• Market Analysis – Market analysis is an essential part of the trading process, as it helps you to spot prices trends, and discover potential trading opportunities. FXTM does its best to help traders with their analysis, by providing free articles, which are written by their in-house market analysis team. They also provide a market news timeline with news feeds and market analysis videos.

FXTM VPS Services

VPS services gives you a smoother trading experience by reducing downtime and enabling you to keep your platform running 24/7. FXTM offers free VPS services, which are available on both demo and live accounts. However, they only offer this service to a limited number of clients, mostly those with large trading accounts or high trading volumes. To find out if you are eligible for free VPS services, you should open an account and contact your dedicated Account Manager.

Education

FXTM places a high value on education and trading support. They do their best to help new traders develop their trading skills and get more out of their online trading. They offer a large number of educational resources, all of which are designed to help you get a better understanding of the financial markets and how online trading works. They have trading guides, forex eBooks, training videos, online articles, forex strategies, and a trading glossary. However, you can only access their educational resources if you open an online trading account. They also offer live seminars in certain countries.

FXTM Trading Hours

FTXM is open during standard trading hours. You can open forex trades whenever the forex market is open. Their trading hours might change on some public holidays.

FXTM Customer Support

When choosing a broker, it’s important to check that they offer good customer service. The FXTM customer support staff are very friendly and quick to respond. They are available 24 hours a day, 5 days a week. You can reach them via live chat, email, and phone.

Our Conclusion

To conclude, we think FXTM is a world-class broker with great online trading services. It offers great trading conditions, cutting-edge trading technology, and excellent customer service.

FXTM Forex Broker Review FAQ

Ready to start trading? Register for an online trading account with FXTM here.

Similar Brokers