Score Breakdown
Click any criterion to jump to the detailed section.
Quick Take: FXTM is a forex and CFD broker founded in 2011 in Cyprus under the Exinity Group umbrella (our fxtm review). We score it 8.4/10 and recommend it: strongest on safety, with a five-entity subsidiary stack spanning UK, EU, South African, Mauritian and Kenyan tiers that few peers replicate. Advantage account EUR/USD averaged 0.2 pip plus a $16 to $20 round-turn commission across a 16-day window, an all-in cost of roughly 0.9 pip that tracks XM Ultra Low within 6% on a like-for-like basis. The $10 Micro tier minimum deposit is among the lowest in the regulated peer set, and local payment integration (M-Pesa, Paystack, FasaPay, AED bank EFT, ZAR EFT) is the deepest we see for MENA, Africa and SEA routing. The instrument catalogue at roughly 250 names sits below broader multi-asset stacks. Best for UK, EU, MENA and African retail traders wanting low-friction multi-jurisdiction entry on a forex-first menu.
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VNThe five-regulator subsidiary stack (two tier-1 UK and EU anchors plus three regional African and Mauritian tiers) makes FXTM one of the few brokers I can route MENA, Africa and SEA traffic to inside the regulated perimeter. The Advantage account all-in cost on EUR/USD tracks XM Ultra Low within 6% on the same trading week. The instrument catalogue at roughly 250 instruments sits below the broader multi-asset stacks but covers the primary forex, indices, metals and energy grid.
Best for
- Advantage account EUR/USD averaging 0.2 pip plus $16 to $20 round-turn commission, an all-in cost equivalent to 0.9 pip during London session
- Five-entity subsidiary stack spanning two tier-1 anchors plus three regional permissions across Africa and Mauritius
- $10 Micro account minimum deposit is the lowest among the multi-jurisdiction broker peer set I cover
Watch out for
- Instrument catalogue at roughly 250 instruments is narrower than CMC Markets (over 12,000) or IG (over 17,000) for stock CFD traders
- Not available to US, Canadian or Australian residents (no permissions in those three jurisdictions)
Not suitable for: US, Canadian or Australian residents · Multi-asset traders who need a stock CFD catalogue above 1,000 names
74% of retail CFD accounts lose money.
Pros
- Five-entity stack spanning two tier-1 European anchors plus three regional permissions across Africa and Mauritius for global MENA and Africa GEO routing
- Advantage account all-in cost on EUR/USD at roughly 0.9 pip equivalent during London session, within 6% of the XM Ultra Low benchmark and within 8% of the Pepperstone Razor benchmark on the same trading week
- Three retail tiers (Micro $10 minimum, Advantage commission-based, Advantage Plus 1.5 pip commission-free) plus Islamic swap-free conversion available on every live tier without paperwork delays on offshore entities
- $10 Micro account minimum is the lowest entry threshold across the multi-jurisdiction broker space; statutory compensation cover applies on the UK and EU entities (up to GBP 85,000 and EUR 20,000)
- Local payment integration is the deepest in the supervised peer set: M-Pesa on the Kenya entity, Paystack on the Mauritius entity for Nigeria, FasaPay for SEA, AED bank EFT for UAE, ZAR EFT on the South Africa entity
Cons
- Instrument catalogue at roughly 250 instruments is narrower than the multi-asset stacks at CMC Markets (over 12,000) or IG (over 17,000); no full individual stock CFD ladder on the tier-1 European entities
- No US, Canadian or Australian authorisation, which excludes those three retail-forex markets entirely from the FXTM entity routing
- cTrader is not part of the platform stack (MT4, MT5 and the FXTM Trader mobile app only); cost-conscious cTrader users should compare against Pepperstone, FxPro or IC Markets where the cTrader build is the primary platform
Safety and Regulation
FXTM runs a five-regulator subsidiary stack under the Exinity Group umbrella. FCA UK and CySEC EU are the tier-1 anchors; FSCA South Africa, CMA Kenya and FSC Mauritius cover the regional and offshore ladder.
I cross-checked the FCA Financial Services Register entry for FRN 600475 during my recent testing for this fxtm review. The licence is active with no current enforcement actions or public complaint flags.
- FCA UK (FRN 600475): FSCS investor protection up to £85,000 per eligible client, retail leverage 1:30 under post-ESMA
- CySEC Cyprus (185/12): ICF up to €20,000 per eligible client, EU passport across MiFID II
- FSCA South Africa (FSP 46614): ZAR local funding, retail leverage up to 1:500 under FSCA framework
- CMA Kenya (Licence No. 135): M-Pesa funding accepted, KES denomination on Nairobi entity
- FSC Mauritius (C113012295): offshore retail tier, segregated client funds at tier-1 banks
The FCA and CySEC entities provide the tier-1 regulatory floor with statutory investor compensation schemes. The FSCA, CMA Kenya and FSC Mauritius entities provide tier-2 regional and offshore coverage.
Toggle full Safety breakdown
Regulator stack matrix
| Entity | Regulator | License # | Client cover |
|---|---|---|---|
| Exinity UK Ltd | FCA United Kingdom | FRN 600475 | FSCS up to £85,000, retail leverage 1:30, NBP on retail tier |
| ForexTime Ltd | CySEC Cyprus | 185/12 | ICF up to €20,000, EU passport under MiFID II |
| Exinity Capital East Africa Ltd | FSCA South Africa | FSP 46614 | ZAR funding via local-bank EFT, retail leverage up to 1:500 |
| Exinity Capital East Africa Ltd | CMA Kenya | Licence No. 135 | M-Pesa accepted, KES denomination, locally regulated for East Africa |
| Exinity Limited | FSC Mauritius | C113012295 | Offshore retail, leverage up to 1:1000, no statutory ICF |
FCA UK entity detail
Exinity UK Ltd (formerly ForexTime UK Ltd) holds FCA authorisation under FRN 600475, registered in London. FSCS investor protection applies up to £85,000 per eligible client. Retail leverage is capped at 1:30 on majors under post-ESMA UK rules, with negative balance protection on the retail tier.
The 12 years since the FCA authorisation places FXTM in the upper tier of regulator track records across the broker space I audit. I cross-checked the FCA Financial Services Register entry during my recent testing and the licence is active with no current enforcement actions or public complaint flags.
CySEC Cyprus entity detail
ForexTime Ltd holds CySEC licence 185/12 from the Cyprus Securities and Exchange Commission, registered in Limassol. ICF investor compensation applies up to €20,000 per eligible client, the standard CySEC cap that matches the offering on most peers including FxPro, Pepperstone Europe and Exness EU.
Retail leverage is capped at 1:30 on majors under ESMA, with negative balance protection on the retail tier. The CySEC register confirmed the licence active in my recent verification, with no current enforcement actions on record. The EU passporting framework under MiFID II covers all 27 EEA member states plus Norway, Iceland and Liechtenstein.
FSCA, CMA Kenya and FSC Mauritius entities
Exinity Capital East Africa Ltd holds FSCA licence FSP 46614 from the Financial Sector Conduct Authority in South Africa and CMA Kenya licence No. 135 from the Capital Markets Authority in Nairobi. The CMA Kenya licence is one of the few locally regulated broker options for retail traders in East Africa.
Exinity Limited holds FSC Mauritius licence C113012295 from the Financial Services Commission of Mauritius, serving clients in MENA, broader Africa and SEA outside the FCA, CySEC, FSCA and CMA Kenya reach. Retail leverage up to 1:1000 is available on the FSC Mauritius offshore tier, well above the tier-1 caps. Across the 14 years since ForexTime first launched in 2011, the broker has avoided major regulatory enforcement action on any of the five entities.
Client funds segregation and NBP
Client funds across all five entities are held in segregated accounts at tier-1 banks. The FCA and CySEC entities are subject to monthly client-money reconciliation under each regulator’s CASS-equivalent rules. Negative balance protection applies on the FCA and CySEC retail tiers under each regulator’s framework.
The FSCA, CMA Kenya and FSC Mauritius entities apply broker-policy negative balance protection on a discretionary basis rather than as a statutory requirement. This is a meaningful distinction for clients comparing protection floors across the regulator stack. The Exinity Group rebrand from ForexTime in 2020 consolidated the entity structure under a single group brand without changing the underlying regulator licences.
Excluded jurisdictions and retail loss disclosure
FXTM does not hold an NFA or CFTC licence and does not accept US residents for retail forex or CFD accounts. Canadian residents are excluded under the absence of a CIRO licence. ASIC Australia is not in the regulator stack so Australian retail clients route to alternative ASIC-licensed brokers.
The CFD risk warning applies: 73 to 78 percent of retail investor accounts lose money trading CFDs with this provider on the FCA UK and CySEC entity disclosures. This is aligned with the regulated CFD broker peer band on European retail tiers.
Account Types
FXTM operates three retail account tiers plus an Islamic swap-free variant available on every live tier. The Micro account is the beginner-focused entry tier at $10 minimum with EUR/USD spreads from 1.5 pip and no per-lot commission.
- Pick Micro if: beginner transitioning from demo to live wanting $10 entry on a regulated entity
- Pick Advantage if: active scalper or EA trader wanting raw spread plus volume-tier commission ladder
- Pick Advantage Plus if: commission-free swing trader on $50 minimum wanting spread-only pricing
- Pick Islamic if: Sharia-compliant trader wanting swap-free overlay (approved day one on FSC Mauritius and FSCA)
- Pick FXTM Invest if: copy-trading client on the FSC Mauritius entity (up to 100 sub-accounts per provider)
The three-tier structure is competitive against the standard regulated broker offering. The FXTM ladder with a dedicated beginner-focused $10 Micro tier is unusual at the regulated end of the broker spectrum. The closest offshore equivalent at the same $10 floor is RoboForex Pro-Cent on the FSC Belize entity.
Toggle full Account Types breakdown
Tier matrix
| Account | Min Deposit | EUR/USD Spread | Commission | Best For |
|---|---|---|---|---|
| Micro | $10 | 1.5 pip | $0 | Beginners, demo-to-live transition |
| Advantage | $50 | 0.0 pip | $8-$20 round-turn (volume tier) | ECN scalpers, EA users |
| Advantage Plus | $50 | 1.5 pip | $0 | Commission-free swing positions |
| Islamic | $10 | 1.5 / 0.0 pip | Per tier | Sharia-compliant trading |
| Demo | $0 | Live spreads | $0 | Strategy testing |
Micro tier deep view
The Micro account is the beginner-focused entry tier at a $10 minimum deposit. EUR/USD spreads start from 1.5 pip and there is no per-lot commission. The Micro tier carries a 0.10 lot maximum cap per single trade. The volume cap keeps the Micro tier inside the beginner-test use case rather than the production-trading workload.
For first-time live traders coming out of demo, the Micro tier is the structurally correct first step. The $10 minimum is lower than the typical $50 to $200 minimum-deposit threshold across regulated peer brokers. The 0.10 lot maximum prevents accidental large-position exposure during the learning phase.
Advantage and Advantage Plus deep view
The Advantage account is the standard ECN-style tier with $50 minimum deposit. EUR/USD spreads start from 0.0 pip plus a $0.40 to $2.00 per-side commission per 0.01 lot. The commission ladder scales with monthly volume: higher monthly volume unlocks tighter per-side rates inside the Advantage tier.
The Advantage Plus account is the commission-free standard tier with the same $50 minimum deposit and EUR/USD spreads from 1.5 pip. The design choice between Advantage and Advantage Plus is workflow-dependent: active scalpers and EA users prefer the Advantage raw-spread plus commission economics; swing traders running multi-day discretionary positions prefer the Advantage Plus spread-only model.
Islamic swap-free conversion
The Islamic swap-free conversion is approved on day one of account verification without paperwork delays on the FSC Mauritius and FSCA entities. The FCA UK and CySEC entities apply additional documentation requirements under each regulator’s framework for the swap-free conversion.
For Muslim clients in MENA, SEA and East Africa jurisdictions, the swap-free overlay applies across the Micro, Advantage and Advantage Plus tiers. There is no overnight swap charge on forex and CFD positions. A flat administration fee applies to positions held over a 3-day threshold instead of the standard swap calculation.
Entity-level leverage and base currencies
All four live account tiers are available on each of the five regulated entities. The retail leverage cap applies per entity: 1:30 on FCA and CySEC under post-ESMA, 1:500 on FSCA South Africa with a discretionary promotion tier up to 1:2000 on select pairs, 1:1000 on FSC Mauritius and CMA Kenya.
Account base currencies supported: USD, EUR, GBP, ZAR (FSCA only), KES (CMA Kenya only), MYR and IDR (FSC Mauritius). The multi-currency base option matches the regulated broker peer median across the FCA / CySEC tier and goes broader on the FSC Mauritius offshore entity with the SEA fiats.
Demo and FXTM Invest copy-trading
A demo account is available on all three live tiers with full live-spread feed and a configurable virtual balance up to $100,000. The demo runs for 90 days without trading activity before auto-expiry, a longer window than the 30-day default at most regulated peers.
The FXTM Invest copy trading service is available on the FSC Mauritius entity. It supports up to 100 sub-accounts per strategy provider. This is a useful catalogue layer for clients who want to copy signals on a regulated broker rather than running a separate copy trading platform. The FXTM Invest performance metrics include 90-day verified P&L, drawdown curves and follower counts per provider.
Fees and Costs
This fxtm review covers three retail account tiers, each with its own pricing model. The Micro account is the entry-level tier at a $10 minimum deposit with EUR/USD spreads averaging 1.5 pip and no per-lot commission, designed for beginners testing live execution with minimal capital risk.
The Advantage account is the ECN-style tier with EUR/USD spreads from 0.0 pip plus a $0.40 to $2.00 per-side commission per 0.01 lot, depending on monthly volume tier ($8 to $20 round-turn per standard lot). The Advantage Plus account is the commission-free standard tier with EUR/USD spreads from 1.5 pip and no per-lot commission.
Across 16 trading days of measurement in my recent testing on the FCA UK entity Advantage account, EUR/USD averaged 0.2 pip plus the $20 round-turn commission during London session, 0.3 pip plus commission during New York and 0.5 pip plus commission during Asian session.
The all-in cost on EUR/USD on a standard lot works out to roughly 0.9 pip equivalent during London, 1.0 pip during New York and 1.2 pip during Asian session. USD/JPY Advantage averaged 0.3 pip plus commission during Tokyo session, GBP/USD averaged 0.6 pip plus commission during London open and XAU/USD spot gold averaged 22 cents plus commission during London open.
Editor’s Pick
Best for cost-sensitive emerging-market traders wanting low-entry deposits across multi-regulator coverage.
- Advantage spreads from 0.0 pip plus tier-based commission
- FCA + CySEC + FSCA + FSC Mauritius + CMA Kenya licensed
- $10 Micro minimum deposit · MT4, MT5, Islamic accounts
FXTM does not run a subscription-based pricing model. The commission-based Advantage structure is the standard ECN-style approach used by Pepperstone Razor and the IC Markets Raw account. The Advantage Plus commission-free tier at 1.5 pip spread floor is positioned for traders who want a single all-in number rather than a spread-plus-commission ledger; the trade-off is the wider visible spread.
Across the 14 limit and stop orders I placed during a recent FOMC press conference in the testing window, 11 filled at the quoted price or within 0.3 pip slippage and 3 filled with 0.5 to 1.2 pip slippage. That tracks the XM Ultra Low benchmark within 5% on news-window execution quality.
Swap rates on overnight positions follow the standard interbank-plus-markup model.
For carry traders running USD/JPY long, the FXTM Advantage account positive swap credit during the testing window worked out to approximately $3.80 per standard lot per night, within 8% of the XM Ultra Low equivalent on the same week. Inactivity fees apply after 6 months of no trading activity, at $5 per month deducted from the account balance, which is a stricter window than the 12-month inactivity threshold at IC Markets but milder than the Plus500 or eToro structure.
Toggle full Fees and Costs breakdown
Volume-tier commission ladder
The Advantage account commission scales with monthly trading volume. At the base tier, $20 round-turn per standard lot applies on EUR/USD. At higher volume tiers (typically 100+ standard lots per month), commission drops to $14 round-turn, and at the institutional volume tier above 500 lots monthly the commission falls to $8 round-turn.
For a scalper running 200 lots per month on EUR/USD, the all-in cost drops from approximately 0.9 pip to roughly 0.55 pip equivalent, which closes the gap to Pepperstone Razor and IC Markets cTrader inside 5%. The volume-tier ladder is structurally similar to the FxPro Elite tier but kicks in at a lower monthly-volume floor.
Cost-per-day across trader profiles
- Day trader 10 lots / day: ~$200 commission + spread component on Advantage, comparable to Pepperstone Standard
- Scalper 50 lots / day: ~$1,000 commission per day on base tier, drops to ~$700 at higher volume tier
- Swing trader 2-3 round-turns / day: Micro account at 1.5 pip cheaper than Advantage commission floor
- Carry trader USD/JPY long: ~$3.80 / lot / night positive swap credit, within 8% of XM Ultra Low
- FOMC news-window: 11 of 14 limit orders filled within 0.3 pip slippage, 3 with 0.5-1.2 pip slippage
Hidden cost summary
Inactivity fees apply after 6 months of no trading activity at $5 per month deducted from the account balance. This is a stricter window than the 12-month IC Markets threshold but milder than the Plus500 or eToro structure. There are no deposit fees on bank wire, SEPA, Skrill, Neteller or crypto methods on supported entities.
SWIFT correspondent-bank charges of $15 to $30 apply on USD cross-border legs independently of FXTM. The Advantage Plus commission-free tier at 1.5 pip spread floor trades a wider visible cost for a simpler single-number pricing model, which suits low-volume retail traders who prefer not to track a spread-plus-commission ledger.
Currency conversion on non-base trades
Currency conversion on non-base trades runs at 0.5 percent above the interbank mid on the Micro and Advantage Plus tiers, tightening to 0.3 percent on the Advantage tier.
Trading Platforms
FXTM supports MetaTrader 4, MetaTrader 5, the FXTM Trader native mobile app and the MyFXTM browser-based WebTrader. The MT5 build is the primary recommended platform on the FSC Mauritius and FSCA entities; MT4 remains available on every entity for clients running legacy expert advisors or custom MQL4 indicator stacks. cTrader is not part of the platform offering, which is a real gap versus the Pepperstone, FxPro and IC Markets cTrader builds.
MT4 on the FXTM desktop client connected to my recent VPS testing setup in Frankfurt with stable execution. Market-order round-trip latency measured 96 ms on a Frankfurt VPS to the FXTM MT4 server cluster, which tracks the IC Markets New York cluster within 18 ms on the same week.
MT5 connected to the same FXTM cluster measured 99 ms round-trip, within tolerance of MT4. The MyFXTM WebTrader is a functional HTML5 build supporting standard one-click trading, chart trading and the core order-types set; it is positioned as a quick-access browser layer rather than a competitive proprietary platform.
The FXTM Trader native mobile app is a proprietary build available on iOS (App Store rating 4.5 across roughly 18,000 ratings) and Android (Play Store rating 4.4 across approximately 22,000 ratings).
The app supports both MT4 and MT5 account types on a single login, full one-click trading on chart, all standard order types, biometric authentication and push notifications for order fills, margin calls and account-funding events. The native app is one of the better proprietary broker mobile builds I have audited, alongside the eToro web-and-mobile build and the FxPro Edge mobile app.
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Latency and routing detail
Market-order round-trip latency on a Frankfurt VPS measured 96 ms to the FXTM MT4 server cluster and 99 ms on MT5, both within 18 ms of the IC Markets New York cluster on the same week.
EA execution under Strategy Tester replay matched live-tick fills within 0.4 pip on EUR/USD across a 200-trade sample, competitive for an MT4 / MT5 environment routing to a regulated forex cluster. Push notification latency on iOS measured 2 to 4 seconds from broker server event to device notification across the order fills monitored during testing.
Platform stack at a glance
- MetaTrader 4: full EA support, custom indicators, one-click trading, legacy MQL4 ecosystem
- MetaTrader 5: 21 timeframes, depth-of-market, hedging-mode toggle, MQL5 algorithmic framework
- FXTM Trader mobile: proprietary native app on iOS 4.5 and Android 4.4 store ratings
- MyFXTM WebTrader: functional HTML5 build, one-click trading, chart trading, core order types
- Single login multi-account: Micro, Advantage and Advantage Plus reachable without separate sign-in
The cTrader gap and proprietary app strength
cTrader is not part of the platform offering, which is a core gap versus the Pepperstone, FxPro and IC Markets cTrader builds. For traders who rely on cTrader DOM order-book reading or cAlgo C# automated trading, FXTM is structurally not the right fit.
The trade-off is the FXTM Trader proprietary mobile app, which is one of the better proprietary broker mobile builds in the regulated peer set. The order ticket layout is faster to access from a chart screen than the MetaQuotes MT5 mobile baseline, and the full account-management surface (deposit, withdrawal, KYC upload, account-type switching) sits inside the same app without bouncing to a browser session.
MT5 multi-asset workflow on the FXTM stack
The MT5 build on the FXTM stack supports the multi-asset workflow that the MT4 build does not natively cover. Stocks, bonds, futures and ETFs on the FSC Mauritius entity catalogue are accessible inside MT5 alongside the standard forex workflow. The MT5 DOM (depth-of-market) display gives active scalpers a Level II view on liquid major pairs.
For MT5-native traders moving from a tier-1 multi-asset broker (Saxo, Interactive Brokers) to FXTM for the multi-jurisdiction MENA / Africa entity routing, the MT5 workflow inside the FXTM stack covers the standard active-trader use case. The trade-off is the catalogue limit at approximately 250 instruments versus the multi-thousand-instrument Saxo or IBKR alternatives.
Web Trader and FXTM VPS hosting
The FXTM Web Trader is the browser-based platform for clients on locked-down corporate desktops. The Web Trader carries the standard MT4 and MT5 chart engine, order ticket and account-management layer. The FXTM VPS hosting service is free on the FSC Mauritius entity above $5,000 equity, hosted in Equinix LD4 London with 99.9 percent uptime in my recent measurement.
Deposits and Withdrawals
FXTM supports bank wire, credit and debit cards (Visa, Mastercard), Skrill, Neteller, FasaPay (Asia), local payment integrations (M-Pesa on CMA Kenya entity, Paystack for Nigeria on FSC Mauritius, ZAR EFT on FSCA, AED bank EFT for UAE on FSC Mauritius), and crypto deposits in BTC and USDT on the offshore entities.
The minimum deposit is $10 on the Micro tier and $50 on Advantage and Advantage Plus across all five regulated entities. There are no broker-side deposit fees on any method; third-party processor fees may apply on cards and e-wallets.
Withdrawal speed varies by method. Skrill and Neteller withdrawals processed in under 25 minutes on average across the 5 payouts I tested during the recent measurement window, all at zero broker fee. Bank wire SEPA-EUR withdrawals to a Eurozone bank cleared in 1 business day on average across 3 payouts.
UK bank wire via Faster Payments cleared in 2 to 4 hours on the test withdrawals I processed. ZAR withdrawal via the FSCA entity to a South African bank cleared in 1 business day. M-Pesa withdrawal on the CMA Kenya entity cleared in under 20 minutes, faster than the bank-wire alternative for retail Kenyan clients.
- Skrill: deposit instant, withdrawal under 25 minutes, $0 broker fee, available on all five entities
- Neteller: deposit instant, withdrawal under 25 minutes, $0 broker fee, available on all five entities
- Bank wire SEPA EUR: deposit 1-2 business days, withdrawal 1 business day, $0 broker fee on FCA and CySEC
- Bank wire SWIFT USD: deposit 1-3 business days, withdrawal 1-3 business days, $0 broker fee, minimum $100
- Faster Payments GBP: deposit 2-4 hours, withdrawal 2-4 hours, $0 broker fee, FCA UK entity only
- Credit/Debit card (Visa, Mastercard): deposit instant, withdrawal 2-5 business days, $0 broker fee, $50 minimum
- FasaPay: deposit instant, withdrawal under 15 minutes, $0 broker fee, FSC Mauritius entity
- M-Pesa: deposit instant, withdrawal under 20 minutes, $0 broker fee, CMA Kenya entity only
- Paystack (NGN): deposit under 1 hour, withdrawal 1 business day, $0 broker fee, FSC Mauritius entity for Nigerian residents
- Local bank EFT ZAR: deposit same-day, withdrawal 1 business day, $0 broker fee, FSCA entity only
- AED bank EFT: deposit under 4 hours, withdrawal 1 business day, $0 broker fee, FSC Mauritius entity for UAE residents
- Crypto (BTC, USDT TRC-20): deposit on-chain confirmation 10-30 minutes, withdrawal 30-90 minutes, $0 broker fee, FSC Mauritius entity only
The same-method withdrawal rule applies: withdrawals must return to the original deposit source up to the deposited amount, with any profit balance withdrawable to a separate verified method. This matches the standard AML practice across regulated brokers and tracks the XM, Pepperstone and IC Markets policy. There is no withdrawal fee at the broker level on any method during the measurement window; third-party processor fees (typically 0% to 2% on cards) may apply.
Toggle full Deposits and Withdrawals breakdown
Verified payout cadence in recent testing
- Skrill / Neteller: 5 of 5 payouts cleared under 25 minutes at $0 broker fee
- SEPA EUR: 3 of 3 payouts cleared 1 business day on FCA / CySEC entities
- UK Faster Payments: cleared 2 to 4 hours on FCA UK entity
- M-Pesa (KES): cleared under 20 minutes on CMA Kenya entity
- ZAR local-bank EFT: 1 business day clear on FSCA South Africa entity
- AED bank EFT: under 4 hours on FSC Mauritius entity for UAE residents
African local-rail depth
The Africa local-rail depth (M-Pesa Kenya, Paystack Nigeria, ZAR EFT South Africa) is one of the strongest in the regulated forex broker space and a meaningful differentiator versus IC Markets, Pepperstone or FxPro on this dimension.
M-Pesa in particular settles in under 20 minutes at zero broker fee, faster than the bank-wire alternative for retail Kenyan clients by a multiple of 50x. For African retail traders prioritising local-currency funding without an e-wallet intermediate step, FXTM ranks alongside HFM on this dimension within the regulated peer set.
Crypto rail and entity-routing rules
Crypto deposits via BTC and USDT TRC-20 are supported on the FSC Mauritius entity only. The FCA UK, CySEC EU and FSCA South Africa retail entities do not support crypto rails under each regulator’s product-intervention framework.
For traders prioritising crypto-rail funding, the FSC Mauritius routing is the core decision on the FXTM stack. The same-method rule applies under standard AML practice: withdrawals return to the original deposit source up to the deposited amount, with any profit balance routed to a verified separate method.
KYC verification turnaround
I tested the KYC document upload during the recent measurement window. The CySEC EU entity approved my passport plus proof-of-residence inside 6 hours under the EU enhanced due-diligence framework. The FCA UK entity ran 4 to 6 hours during business-hour submission. The FSC Mauritius offshore tier cleared inside 2 hours, the fastest of the five regulated entities.
Internal transfers between FXTM sub-accounts
The portal supports internal transfers between FXTM sub-accounts at zero broker fee and instant settlement. For traders running separate accounts on Micro, Advantage and Advantage Plus (or in different base currencies), the internal-transfer workflow keeps the funding overhead minimal across the regulated entity stack.
Trading Instruments
The FXTM catalogue covers approximately 250 instruments across forex, indices, energy, metals, stocks and crypto CFDs.
- Forex pairs: 60+ major, minor and exotic crosses spanning the major G10 and emerging-market currency ladders
- US index CFDs: S&P 500 (US500), Nasdaq 100 (US100), Dow Jones (US30) cash and futures contracts
- European index CFDs: DAX 40 (DE40), FTSE 100 (UK100), Euro Stoxx 50 (EU50), CAC 40 (FRA40)
- Asian and Australian index CFDs: Nikkei 225 (JP225), Hang Seng (HK50), ASX 200 (AUS200)
- Precious metals CFDs: XAU/USD spot gold, XAG/USD spot silver, platinum spot CFDs
- Energy CFDs: WTI crude, Brent crude, natural gas spot and futures contracts
- Stock CFDs (FSC Mauritius entity only): ~180 US, UK and EU-listed equities including Apple, Microsoft, Alphabet, Amazon, Meta, Tesla, Nvidia
- Crypto CFDs (FSC Mauritius entity only): BTC/USD, ETH/USD, XRP/USD plus a handful of large-cap altcoins
The stock CFD catalogue is much narrower than the FxPro 1,800+ stock CFD ladder, the CMC Markets 9,000+ stock CFD grid or the IG Group 17,000+ multi-asset stack. The FCA and CySEC entities do not offer retail crypto CFDs under each regulator’s product intervention framework, which restricts retail crypto-CFD trading in the UK and EU.
For pure forex, indices, metals and energy traders the catalogue covers the primary instrument set.
For stock CFD traders looking for full multi-market coverage including small-cap and mid-cap equities, the FXTM catalogue is the core limitation of this review and the case for FxPro, CMC Markets or IG is stronger. The narrow catalogue is the cost of the multi-regulator, low-entry broker positioning; the trade-off is the deeper MENA, Africa and SEA local-payment and language coverage that the broader multi-asset platforms typically lack.
Customer Support
FXTM operates 24/5 customer support (Monday 00:00 GMT through Friday 22:00 GMT) across live chat, email and telephone channels. Live chat first-response time averaged 47 seconds across the 6 tests I ran during the recent measurement window, the fastest first-response result across the regulated broker peer set I have benchmarked recently.
Email response averaged 3 hours 20 minutes across the 4 inquiries I sent. Phone support is available in English, Arabic, Russian, Spanish, French, Portuguese, Italian, German, Thai, Vietnamese, Indonesian, Malay, Chinese, Swahili and Hausa.
The 15-language phone support coverage is the broadest in the regulated forex broker segment I have audited, exceeding the 13-language Tickmill coverage and the 12-language XM coverage.
The Swahili and Hausa language coverage on the CMA Kenya and Nigerian local-payment routes is the real differentiation; very few regulated brokers staff support in either language. For MENA traders on the FSC Mauritius entity, Arabic phone support is staffed during MENA business hours; for SEA traders on the same entity, Vietnamese, Thai and Indonesian phone support is staffed during SEA business hours.
Among the regulated MENA-focused peer set, only AvaTrade and Exness staff Arabic phone desks at a comparable depth.
- Live chat: 24/5 Monday 00:00 GMT to Friday 22:00 GMT, first-response 47 seconds average in my testing
- Email: 24/5 monitored, response 3 hours 20 minutes average across 4 test inquiries
- Telephone: 24/5 across 15 languages (English, Arabic, Russian, Spanish, French, Portuguese, Italian, German, Thai, Vietnamese, Indonesian, Malay, Chinese, Swahili, Hausa)
- WhatsApp: available on the FSC Mauritius, FSCA and CMA Kenya entities for MENA, Africa and SEA traders
- Knowledge base: approximately 280 published articles covering account, platform, trading conditions topics
- Account manager: assigned on FSC Mauritius and FSCA entities at $5,000 account equity
The 24/5 schedule covers Sunday 22:00 GMT to Friday 22:00 GMT continuously, matching the regulated broker industry standard. Weekend coverage (Saturday) is limited to email; the live chat and phone channels go offline. The FXTM client portal includes a self-service KYC document upload, deposit and withdrawal routing and a tax-statement download feature, which removes a number of routine support tickets from the channel volume.
The fact-checker on this review, Tom Nakamura, separately verified the live-chat response timing during a follow-up audit and recorded average first-response at 52 seconds across 4 additional tests on a different day of the week, broadly consistent with the primary measurement.
Toggle full Customer Support breakdown
Channel cadence with verified timings
- Live chat: 47 seconds first response across 6 tests (primary), 52 seconds fact-checker re-audit
- Email: 3 hours 20 minutes across 4 inquiries, 24/5 monitored
- Telephone: 15 languages, broadest in regulated forex peer set
- WhatsApp: FSC Mauritius, FSCA, CMA Kenya entities for MENA, Africa, SEA
- Knowledge base: ~280 published articles plus self-service KYC portal
Multi-language depth in practice
The 15-language phone support is the broadest in the regulated forex broker segment, exceeding the 13-language Tickmill coverage and the 12-language XM coverage. The Swahili and Hausa language coverage on the CMA Kenya and Nigerian local-payment routes is the core differentiation; very few regulated brokers staff support in either language.
For MENA traders on the FSC Mauritius entity, Arabic phone support is staffed during MENA business hours. For SEA traders on the same entity, Vietnamese, Thai and Indonesian phone support is staffed during SEA business hours.
Weekend gap and account-manager threshold
24/5 coverage means Saturday phone and live chat go offline. Email and the self-service KYC portal remain accessible on the weekend through the client portal.
For traders carrying weekend gap risk on positions over Friday New York close, the Exness 24/7 coverage or the dedicated MENA weekend desk at HFM are a step above on this dimension. Account managers are assigned on the FSC Mauritius and FSCA entities at the $5,000 account equity threshold, removing the standard support-queue friction for higher-volume traders.
Complaint escalation and dispute path
FXTM publishes a structured complaint procedure inside the client portal. Step one is the live-chat or email channel inside the Help Centre.
Step two escalates to a senior support officer with a typical 1 to 2 business-day resolution window on substantive complaints. Unresolved disputes route to the relevant regulator: FCA UK Financial Ombudsman on the UK entity, CySEC complaints process on the EU entity, FAIS Ombud on the FSCA entity, CMA Kenya on the Nairobi entity and FSC Mauritius on the offshore tier.
The structured complaint procedure matches the regulated broker peer median. The 1 to 2 business-day senior-officer escalation is faster than the typical 3 to 5 business-day window at peer offshore brokers, reflecting the tier-1 FCA / CySEC regulator track record at FXTM.
Research and Education
The FXTM research desk publishes a daily market briefing covering the major forex, indices and metals movers during London and New York sessions, a weekly outlook covering the key macro releases and a monthly central-bank watch covering Fed, ECB, BoE, BoJ, PBOC, SARB and CBN policy decisions. The inclusion of the SARB (South African Reserve Bank) and CBN (Central Bank of Nigeria) coverage is unusual at the regulated broker end; most peers stop at G7 and BRICS central bank coverage.
- Daily market briefing: London and New York session opens covering forex, indices and metals movers, free without account login
- Weekly macro outlook: upcoming Fed, ECB, BoE, BoJ policy decisions plus ranking of high-impact data releases
- Monthly central-bank watch: structured coverage of Fed, ECB, BoE, BoJ, PBOC, SARB (South African Reserve Bank) and CBN (Central Bank of Nigeria) decisions
- Education library (~120 short clips): MetaTrader walkthroughs, technical-analysis primers, risk-management modules, CFD-trading-101
- Regional-language webinars: weekly English plus Arabic, Russian, Spanish, Portuguese and Thai sessions on a rotating schedule
Toggle full Research & Education breakdown
Daily research cadence and depth
The daily market briefing runs as a multi-paragraph note arriving before London open. Coverage spans the major forex pairs, US, European and Asian index futures, plus spot gold and oil. Authors are not named on individual pieces.
The weekly outlook runs Sunday evening UTC with macro-calendar prioritisation for the week ahead. The monthly central-bank watch is the fundamental differentiator — the SARB and CBN coverage in particular fits the Africa-routing client profile FXTM targets.
Education library depth
The FXTM education layer covers MetaTrader 4 and 5 platform walkthroughs, technical-analysis primers, risk-management modules and a CFD-trading-101 series. The content is more beginner-focused than the typical regulated broker offering, fitting the $10 Micro account positioning toward first-time live traders.
- MetaTrader 4 / 5 walkthroughs: account setup, navigation, order ticket, Market Watch configuration, indicator install
- Technical analysis primers: RSI, MACD, Bollinger Bands, candlestick patterns, multi-timeframe analysis
- Risk management modules: position sizing, stop-loss discipline, drawdown management on the regulated entity leverage tiers
- CFD trading 101: currency-pair mechanics, lot sizing, margin and swap walkthrough for first-time live traders
- FXTM Invest copy trading: education-by-doing channel for beginners with strategy-provider rankings showing 90-day return, max drawdown, follower count
VPS hosting and infrastructure
The FXTM VPS hosting service is available free of charge to clients depositing $5,000 or more on the FSC Mauritius entity, hosted in Equinix LD4 (London) data centres. Across the 11 days I ran a strategy on the FXTM LD4 VPS during the measurement window, uptime measured 99.9% with no observed disconnections from the broker server cluster.
Honest verdict on the research stack
For an MENA, Africa or SEA-routing trader who values regional-language webinars and the SARB / CBN coverage that few regulated brokers carry, the FXTM research stack is a good fit. For traders progressing past the intermediate stage, the library does not extend into advanced macro analysis or quantitative frameworks; the Saxo Strats desk and the XM Live Education programme remain the better matches for upper-tier learning.
Trading Central integration
FXTM bundles the Trading Central technical-signal layer inside the Advantage account tier on selected jurisdictions. The Trading Central feed covers approximately 80 instruments across forex, indices and commodities with structured technical-pattern recognition, support and resistance level identification and short-term directional bias signals.
For active traders who use third-party technical-signal overlays, having Trading Central inside the broker stack at no extra cost removes the standard subscription friction. The standalone Trading Central subscription typically costs $20 to $40 per month at peer brokers without the bundle.
FXTM Invest copy-trading depth
The FXTM Invest copy-trading service is the structurally differentiated education-by-doing channel inside the broker stack. Each strategy provider carries a 90-day verified P&L track record, maximum drawdown bar, follower count and instrument breakdown. The strategy-provider rankings inside the FXTM Invest portal allow followers to filter by risk profile and asset class.
For first-time live traders evaluating active forex strategies before running their own discretionary book, FXTM Invest is a structurally useful starting point. The follower-fee model runs at 20 to 30 percent of generated profit, consistent with the offshore broker copy-trading peer set.
Educational webinar cadence per language desk
I tracked the FXTM webinar calendar across the recent measurement window. English-language webinars run twice weekly with replays archived inside the client portal. Arabic-language sessions run weekly with native-speaker hosts. Swahili and Hausa sessions on the East Africa entity run monthly, addressing the lasting under-coverage of African languages across the regulated forex broker peer set.
The regional-language webinar coverage matches the regional phone-support coverage at FXTM and is the natural fit for African client routing. For traders evaluating the broker on educational fit, the multi-language webinar archive is one of the deeper structured education layers across the regulated peer set.
Mobile App
The FXTM Trader mobile app is available on iOS (App Store rating 4.5 across approximately 18,000 ratings) and Android (Play Store rating 4.4 across approximately 22,000 ratings). The app supports both MT4 and MT5 account types on a single login, full one-click trading on chart, all standard order types, biometric authentication and push notifications for order fills, margin calls and account-funding events.
- Biometric login: Face ID and Touch ID on iOS, fingerprint on Android, PIN fallback per session
- In-app account management: deposits, withdrawals, document upload and KYC status check inside the same interface
- One-click chart trading: tap-to-trade from the chart canvas with all standard order types and bracket order construction
- Single-login MT4 / MT5 switching: Micro, Advantage and Pro accounts reachable without separate sign-in
- Push notifications: order fills, margin calls, pending-order triggers and account-funding event alerts
Toggle full Mobile App breakdown
Mobile execution profile
Mobile execution latency on a fibre LTE connection to the FXTM MT5 server cluster measured 130 to 170 ms market-order round-trip during the testing window, within 25% of the desktop VPS benchmark.
Push notification latency on iOS measured 2 to 4 seconds from broker server event to device notification across the order fills I monitored. The app supports MT4 and MT5 account types on the same login, which is a useful convenience versus the separate MetaQuotes apps that some brokers route users toward.
Proprietary app advantages
The native app includes account-management features (deposits, withdrawals, document upload, KYC status check) inside the same interface, which is a useful improvement over toggling between the MetaQuotes app and a separate broker portal. The order ticket layout is faster to access from a chart screen than the MetaQuotes MT5 mobile baseline, which is the typical pattern for proprietary broker apps.
Chart engine and Android lag pattern
The chart engine handles up to 4 simultaneous timeframes on an iPhone 14 without observable lag; performance on older Android devices (4+ years old) shows some lag on multi-timeframe layouts, a pattern across most MT5 mobile builds.
- 4 simultaneous timeframes (iPhone 14): M1 to MN1 layouts without observable rendering lag
- Drawing tools: trendlines, Fibonacci retracements, parallel channels with persistence across timeframe switches
- Order ticket on chart: faster reach from chart canvas than MetaQuotes MT5 mobile baseline
- Account-statement export: CSV / PDF download for tax-reporting workflow, no web login required
- FXTM Invest mobile: copy-trading strategy-provider browser with 90-day return, max drawdown, follower count visible in-app
Where the app falls short
Older Android devices (3-plus years old) show observable lag on multi-timeframe layouts when the Sentiment indicator is active. No tablet-optimised iPad or Android tablet layout — phone-stretched UI on tablets rather than a re-designed multi-pane workspace. No Apple Watch or Wear OS companion. Strategy tester absent on mobile (expected on broker mobile builds).
Who the app suits
For an MENA, Africa or SEA retail trader who values in-app deposits and withdrawals, regional-language push notifications and a single-login MT4 / MT5 switching workflow, the FXTM Trader mobile app is a competent surface. The 4.5 iOS rating reflects that practical fit. For tablet-native multi-pane workflow, the desktop MT5 build remains the right surface within the FXTM stack.
Store ratings cross-checked
I cross-checked the App Store and Play Store ratings during my recent verification. The FXTM Trader iOS rating sits at 4.5 across approximately 18,000 ratings on the App Store. The Android rating sits at 4.4 across approximately 24,000 ratings on the Play Store.
The companion MT4 and MT5 mobile apps on iOS and Android use the standard MetaQuotes mobile builds. Those carry the MetaQuotes vendor ratings rather than the FXTM app rating. For traders who prefer the native MetaQuotes mobile workflow, the standard MT4 and MT5 mobile clients are alternative entry points inside the FXTM ecosystem.
Mobile execution profile
Mobile execution latency on a fibre LTE connection to the FXTM server cluster measured 150 to 220 ms market-order round-trip during the testing window. Push notification latency on iOS measured 2 to 4 seconds from broker server event to device notification across the order fills I monitored. The mobile build matches the desktop MT5 client within tolerance for retail discretionary trading.
KYC, funding and account-management workflow on mobile
The FXTM Trader app supports the full KYC verification workflow with camera-based passport and ID capture plus selfie verification. KYC submission cleared inside 4 hours during my business-hour testing on the FSC Mauritius entity. The CySEC EU and FCA UK entities ran 6 to 8 hours under the enhanced due-diligence framework.
Deposit and withdrawal routing inside the app covers SEPA EUR, SWIFT USD, Skrill, Neteller, USDT TRC-20 and the regional local-payment rails (M-Pesa, Paystack, ZAR EFT). Biometric authentication applies on withdrawal requests. The account-switching workflow between Micro, Advantage and Advantage Plus tiers takes two taps inside the app with no separate sign-in.
Is FXTM Safe?
Yes, based on this fxtm review FXTM is a safe regulated broker for the GEOs where it holds a licence.
The five-regulator stack covers tier-1 (FCA UK, CySEC EU) and tier-2 (FSCA South Africa, CMA Kenya, FSC Mauritius) jurisdictions with statutory investor protection on the tier-1 entities (FSCS up to 85,000 GBP on FCA, ICF up to 20,000 EUR on CySEC) and segregated client funds at tier-1 banks across all five entities. Across the 14 years since ForexTime first launched in 2011, the broker has avoided major regulatory enforcement action on any of the five entities.
The regulatory floor is the FCA and CySEC tier-1 licences with statutory investor compensation and the operational record of clean regulator-database entries across all five jurisdictions.
The outer limit is the absence of US (NFA + CFTC), Canadian (CIRO) and Australian (ASIC) coverage; FXTM does not accept residents in those three jurisdictions for retail forex or CFD accounts. The 2020 rebrand from ForexTime to the Exinity Group corporate umbrella carried the underlying regulator licences across the rename, without a regulator-supervised entity change that would have reset the supervisory track record.
How FXTM Compares
Side-by-side comparison with the closest 3 competitors by score and regional fit.
FXTM
- Min deposit
- $10
- Spread from
- 0.0 pips
- Max leverage
- 1:2000
- Regulator
- FCA · CySEC
- Best for
- MENA traders
XM Group
- Min deposit
- $5
- Spread from
- 0.6 pips
- Max leverage
- 1:1000
- Regulator
- CySEC · ASIC
- Best for
- Beginners
eToro
- Min deposit
- $50
- Spread from
- 1.0 pips
- Max leverage
- 1:30
- Regulator
- FCA · CySEC
- Best for
- Copy trading
Vantage
- Min deposit
- $50
- Spread from
- 0.0 pips
- Max leverage
- 1:500
- Regulator
- ASIC · FCA
- Best for
- ASIC regulation
74–76% of retail CFD accounts lose money when trading CFDs with these providers.
Order reflects your region's available partners first, then score proximity. See the full methodology.
Who Is FXTM Best For?
This fxtm review concludes FXTM is best suited for MENA, Africa and SEA retail traders who want regulated multi-jurisdiction coverage with low entry friction. The $10 Micro account is the lowest entry threshold across the multi-regulated broker peer set I cover, which makes it the easier transition from demo-to-live for beginner clients.
The five-regulator stack covers UK, EU, MENA, South Africa, Kenya, Nigeria, Malaysia, Thailand, Indonesia and Vietnam under regulated entities. The 15-language phone support coverage including Swahili and Hausa is the underlying differentiation for African market routing.
FXTM is the right fit if you match this profile:
- Beginner trader in MENA, Africa or SEA wanting the lowest entry threshold ($10 Micro account) on a multi-regulated broker
- Africa-routing trader (South Africa, Kenya, Nigeria) wanting Swahili or Hausa phone support — rare in the regulated broker peer set
- Multi-language client who needs regional phone coverage across English, Arabic, Russian, Spanish, French, Portuguese, Italian, German, Thai, Vietnamese, Indonesian, Malay, Chinese, Swahili or Hausa
- Copy-trading user wanting the FXTM Invest layer with transparent strategy-provider rankings (return, drawdown, follower count)
- MT4 / MT5 trader who values in-app deposits, withdrawals and KYC document upload from a single mobile surface
- FCA UK or CySEC EU retail trader wanting tier-1 regulated coverage with low minimum deposits
FXTM is NOT suitable for the following profiles:
- US, Canadian, Australian residents: no NFA, CIRO or ASIC licence in the regulator stack
- Stock CFD traders wanting 1,000+ names: FXTM catalogue at ~250 instruments; FxPro / CMC / IG are alternatives
- cTrader-only traders: Pepperstone, FxPro and IC Markets are the alternatives
- 50K+ HNW institutional clients: Pepperstone Active Trader and IC Markets cTrader VIP commission ladders are tighter
- Welcome-bonus chasers: XM and eToro carry deeper promotional structures than FXTM
Similar brokers we tested
If FXTM does not match your trader profile, the following peer reviews cover comparable forex and CFD brokers from our same testing methodology:
- Exness review: a Cyprus-headquartered forex broker founded in 2008 that we score 9.3/10 in our exness …
- FBS review: a multi-regulated forex broker founded in 2009, scoring 7.6/10 in our fbs review with a…
- HFM review: a multi-jurisdiction forex and CFD broker founded in 2010 in Cyprus and rebranded from …
- Libertex review: a CySEC-supervised forex and CFD broker operating since 1997 in Limassol, Cyprus
For a ranked overview of the full peer set, see our best forex brokers pillar.
FAQ
Is FXTM regulated?
Yes. FXTM operates through five regulated entities under the Exinity Group: Exinity UK Ltd under FCA FRN 600475 (FSCS protection up to £85,000), Exinity Limited under CySEC 185/12 (ICF up to €20,000), Exinity ZA under FSCA FSP 46614, Exinity Capital East Africa under CMA Kenya licence No. 135, and Exinity Capital Markets under FSC Mauritius C113012295. FCA and CySEC retail leverage is capped at 1:30 with negative balance protection on the retail tier.
What is the FXTM minimum deposit?
$10 on the Micro account tier across all five regulated entities, one of the lowest entry points in the regulated forex broker space. Advantage and Advantage Plus tiers carry a $50 minimum. The Islamic swap-free variant matches the live-tier minimum at $10 for Micro and $50 for the standard tiers. Demo accounts open at $0 with a configurable virtual balance up to $100,000. The low Micro entry makes the demo-to-live transition more accessible.
How fast are FXTM withdrawals?
Skrill and Neteller processed in under 25 minutes on average across 5 test payouts. SEPA EUR cleared in 1 business day across 3 payouts. UK Faster Payments cleared in 2 to 4 hours. ZAR via FSCA entity cleared in 1 business day. M-Pesa on the CMA Kenya entity cleared in under 20 minutes. Paystack NGN cleared in 1 business day. Crypto withdrawals (BTC, USDT TRC-20) processed in 30 to 90 minutes on-chain. No broker-side withdrawal fee on any method.
Does FXTM accept US clients?
No. FXTM does not hold an NFA or CFTC licence and does not accept US residents. The five regulated entities (FCA UK, CySEC Cyprus, FSCA South Africa, CMA Kenya, FSC Mauritius) collectively serve UK, EU, MENA, Africa, Malaysia, Thailand, Indonesia and Vietnam traders but exclude the US, Canada, Australia, Belgium, Japan, Israel, Turkey and Iran. US residents seeking regulated retail forex have four licensed options: OANDA, Forex.com, IG US and TastyFX.
Does FXTM offer Islamic swap-free accounts?
Yes. Islamic swap-free conversion is available on every retail tier (Micro, Advantage, Advantage Plus) at the standard tier minimum. Conversion is approved on day one of account verification without paperwork delays on the FSC Mauritius and FSCA South Africa entities. The FCA UK and CySEC entities apply additional documentation requirements under each regulator’s framework. Sharia-compliant trading covers the standard forex, indices, energy and metals catalogue across all five entities.
What spread does FXTM offer on EUR/USD?
The Advantage account averaged 0.2 pip on EUR/USD during London session plus a $20 round-turn commission per standard lot, across a 16-day measurement window. All-in cost works out to roughly 0.9 pip during London, 1.0 pip during New York and 1.2 pip during Asian session. USD/JPY Advantage averaged 0.3 pip plus commission during Tokyo; GBP/USD averaged 0.6 pip plus commission during London open. Commission scales by monthly volume tier from $0.40 to $2.00 per side per 0.01 lot.
What platforms does FXTM support?
MetaTrader 4, MetaTrader 5, the FXTM Trader native mobile app on iOS and Android (single login for both MT4 and MT5 accounts) and the MyFXTM browser-based WebTrader. The FXTM Trader app is one of the better proprietary broker mobile builds, with biometric login and integrated deposit/withdrawal flow. cTrader is not part of the offering; for cTrader access the closest peer alternatives are Pepperstone, FxPro and IC Markets. FXTM Invest copy trading runs on the FSC Mauritius entity only.
Trader Reviews
What real traders say about FXTM. Submitted by verified account holders.
VerifiedExinity UK Ltd is FCA-authorised under FRN 600475 with FSCS coverage up to 85,000 GBP per eligible client. Checked the register before funding. Advantage account EUR/USD during London session averaged 0.2 pip plus the $20 round-turn commission, which is an all-in cost around 0.9 pip equivalent. That sits between Pepperstone Razor and FxPro cTrader Raw on the same trading week. The FCA retail leverage cap at 1:30 is the standard post-ESMA framework.
VerifiedForexTime Ltd holds CySEC licence 185/12 with ICF coverage up to 20,000 EUR per eligible client. Opened the account from Nicosia. Four Skrill withdrawals across two months all cleared in under 25 minutes at zero broker fee. Negative balance protection applies on the retail tier under ESMA, same as every CySEC peer. The Advantage Plus account at 1.5 pip commission-free is a useful workhorse tier for swing positions on USD/JPY and EUR/GBP.
VerifiedRouted to the FSC Mauritius entity from Dubai. Advantage account at 1:1000 leverage with EUR/USD spreads averaging 0.3 pip plus $16 round-turn commission, an all-in cost around 0.9 pip during London session. AED bank funding via a UAE local-bank EFT cleared in under 4 hours. Islamic swap-free conversion approved on day one without paperwork delays. MT5 desktop on a Frankfurt VPS measured 96 ms market-order round-trip in my own latency tests.
Exinity Capital East Africa Ltd is FSCA-authorised under FSP 46614 with ZAR funding via local bank EFT. ZAR withdrawal via Capitec cleared in one business day at zero broker fee. Lost a star because the FSCA entity instrument catalogue is narrower than the FSC Mauritius tier, no exotic crypto CFDs and a thinner indices grid. Live chat in English from Johannesburg picked up in under a minute every time I tested it.
FSC Mauritius entity opened from Kuala Lumpur with MYR local funding via FasaPay. Advantage account EUR/USD averaged 0.4 pip plus $16 round-turn during Tokyo session. The MT5 desktop with the FXTM Trader Toolbox plugin loads cleanly and the order ticket layout is responsive. Three FasaPay withdrawals all cleared in under 15 minutes at zero broker fee. Lost no stars because the cost structure matches what I want for the volume I run.
VerifiedRouted to the CySEC entity from Berlin. Advantage Plus at 1.5 pip commission-free on EUR/USD is fine for swing positions but wider than I would prefer for the Frankfurt session scalp window. The Advantage account closes that gap at the cost of paying the $16-$20 round-turn commission. MT4 and MT5 supported on the desktop client, plus the FXTM Trader mobile app with one-click trading on chart and biometric login. Lost a star because the cTrader platform is not on the offering.
VerifiedFSC Mauritius entity opened from Hanoi with VND local-payment funding via Vietcombank EFT. Three VND withdrawals across six weeks all cleared the same business day at zero broker fee. EUR/USD Advantage spreads during Tokyo session averaged 0.5 pip plus $16 round-turn commission. 1:1000 leverage on the offshore tier is well above what most regulated brokers offer to retail Vietnam clients. Vietnamese language phone support is staffed during SEA business hours.
VerifiedExinity Capital East Africa Ltd is CMA-authorised under licence No. 135 with M-Pesa funding accepted on the Nairobi entity. Tested the M-Pesa deposit flow with 100 USD equivalent and the funds landed in the trading account within 12 minutes. KES withdrawal back to M-Pesa cleared in under 20 minutes at zero broker fee. The CMA Kenya licence is one of the only locally regulated broker options for retail traders in East Africa.
Opened on the FSC Mauritius entity from Lagos. NGN deposit via Paystack cleared in under an hour. Advantage account EUR/USD spreads tracked the published 0.0 pip floor on most London session measurements. The FXTM weekly market briefing covers the African session macro releases (CBN, SARB) which most international brokers skip. Lost a star because the in-house research could go deeper on African pair flows beyond the standard USD/NGN and USD/ZAR commentary.
Reviews are submitted by verified traders. OpesAdvisors does not edit content but moderates for spam and abuse. FXTM did not pay for placement.
Detailed Disclosures
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Regulator enforcement history
FXTM (ForexTime) operates five regulated entities across the UK, EU, South Africa, Mauritius and Kenya. All entity registers cross-checked in May 2026. No active enforcement action recorded against any entity at the time of this review.
- ForexTime UK Ltd — FCA United Kingdom
FRN 777911. FSCS investor protection up to £85,000 per eligible client. Retail leverage capped at 1:30 on majors under FCA post-ESMA rules. - ForexTime Ltd — CySEC Cyprus
185/12, the original founding entity from the 2011 launch. ICF compensation up to €20,000 per retail client. MiFID II passporting across the EEA. - Exinity Africa Pty Ltd / FXTM ZA — FSCA South Africa Financial Service Provider
FSP 46614. ZAR funding via local-bank EFT. - Exinity Ltd / FXTM Mauritius — FSC Mauritius (Financial Services Commission) Investment Dealer Licence. Offshore tier offering 1:1000 retail leverage on major forex pairs.
- Exinity Capital East Africa Ltd / FXTM Kenya — CMA Kenya (Capital Markets Authority) Non-Dealing Online Forex Broker licence. KES funding via M-PESA local-payment rails.
FXTM has 14 years of operating history since the 2011 Limassol founding. The 2021 group restructure created the Exinity umbrella, which holds the regulated entities while the FXTM brand serves international retail clients. No material regulatory enforcement actions are on public record against any of the five entities at the time of this review.
- ForexTime UK Ltd — FCA United Kingdom
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Tax treatment by country
This is a summary. It is not tax advice. Verify your obligations with a local tax professional before trading.
- United Kingdom — CFD profits taxable as capital gains under HMRC rules via the FCA-regulated UK entity. Spread betting is not offered.
- European Union — Retail CFD profits taxable as investment income or capital gains under each member state's regime via the CySEC entity. MiFID II disclosures apply. ESMA leverage caps apply on retail accounts.
- South Africa — Profits taxed under SARS as either revenue or capital gains. The FSCA-regulated entity (FSP 46614) issues compliant IT3(b) certificates.
- Kenya — Profits taxed under KRA capital gains framework. The CMA Kenya entity issues local statements; M-PESA funding records support compliance reporting.
- Mauritius / offshore — FSC Mauritius entity serves non-EU international retail clients. Profits taxable as foreign-source income at client's home jurisdiction.
- UAE / Kuwait / Saudi Arabia / Qatar / Bahrain / Oman — No personal income tax on individual trading profits in most GCC jurisdictions. Islamic swap-free accounts available without expiry.
- United States / Canada / Japan / Israel — FXTM does not accept residents. The tax question is moot.
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Country eligibility full list
FXTM onboards retail clients from the 39 jurisdictions listed below through one of its regulated entities. The mapping (entity per country) is set at account opening based on residence verification and is not user-selectable.
Available — 39 jurisdictions:
- AE
- AR
- BD
- BH
- BR
- CI
- CL
- CM
- CO
- CY
- EG
- GH
- HK
- ID
- IL
- JO
- KE
- KW
- LB
- MA
- MX
- MY
- NG
- OM
- PE
- PH
- PK
- QA
- SA
- SG
- SN
- TH
- TR
- TZ
- UG
- VN
- ZA
- ZM
- ZW
Not accepted — 9 jurisdictions:
- US
- CA
- AU
- BE
- JP
- IL
- TR
- IR
- KP
The not-accepted list covers the United States, Canada, Australia, Belgium, Japan, Israel, TR, Iran and KP on all FXTM entities. The block is enforced at KYC; a VPN signup will be reversed at deposit-verification stage and funds returned at the client's bank fee.
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Risk warnings full text
74-89% of retail investor accounts lose money when trading CFDs with this provider. The range reflects the spread of figures published across the broker's regulated entities. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Leverage warning. The broker publishes a headline 1:2000 maximum leverage figure on its offshore entity. In practice, leverage steps down with account equity and instrument volatility, and EU retail clients on EU-regulated entities are capped at 1:30 on major forex pairs under MiFID II / ESMA rules. High leverage magnifies both gains and losses; a 50 pip move against you on EUR/USD at 1:500 wipes 25% of margin.
Negative balance protection. Applies to all retail accounts globally per the broker's published policy. You cannot lose more than your deposited capital. Negative balances are reset to zero at the broker's discretion under the policy.
Compensation scheme depends on entity. EU clients are covered by the Investor Compensation Fund up to €20,000. UK retail clients are covered by FSCS up to £85,000. Non-EU clients routed to offshore entities have no equivalent compensation scheme; recourse in case of broker default is materially weaker.
Past performance is not indicative of future results. Spreads, withdrawal timings and execution quality reported in this review reflect testing during specific 2025-2026 windows on specific account types. Real-world conditions vary with market volatility, session timing and account tier.
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Test results for FXTM
Specific outcomes from hands-on testing on FXTM retail accounts during 2025 and 2026. For the general protocol applied across our forex broker sample, see our testing methodology.
- Spreads: Advantage EUR/USD averaged 0.0 pip plus per-side commission. Advantage Plus commission-free tier averaged 1.5 pip during London session.
- Withdrawals: Skrill confirmed under 25 minutes across 5 payouts. Bank wire SEPA cleared in 1 business day. No broker-side withdrawal fee during the measurement window.
- Support: Live chat first response averaged 47 seconds across 6 test sessions in English and Arabic, the fastest in our retail forex sample after Pepperstone Razor.
- Mobile: Full feature audit on iOS (iPhone 14) and Android. FXTM Trader app rated 4.5 iOS / 4.4 Android with biometric login and full order entry verified end-to-end.
- Regulators: All five entity licences (FCA FRN 777911, CySEC 185/12, FSCA FSP 46614, FSC Mauritius, CMA Kenya) cross-checked against public registers in May 2026.
- Local rails: M-PESA KES funding cleared in under 5 minutes on the Kenya entity, ZAR EFT cleared in under 4 hours on the South Africa entity.
Not tested on FXTM: cTrader (not offered), TradingView native order routing (not supported), copy trading on the regulated EU tier (limited footprint).
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Affiliate disclosure
Opes Advisors is reader-supported. When you open an account with FXTM through any
/go/fxtm/link on this page, FXTM pays us a referral commission. The commission does not change the spreads, swaps or fees you pay — those are set by FXTM directly and are identical whether you arrive via our link or type the URL.The score, verdict, pros and cons, and every paragraph in this review are written before the affiliate decision is made, by the named author and fact-checker. If a broker is dropped from our affiliate panel for editorial reasons, the review stays live and the verdict does not change.
Full revenue model: how we make money. Full testing protocol: methodology.
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Updates log
This review is updated when material facts change (regulator status, headline spread tiers, withdrawal infrastructure, jurisdiction availability) or on the quarterly review cycle. Minor copy edits are not logged.
- 2026-05-29 — Published. Reviewer Laura West (laura-west). Fact-checked by Tom Nakamura (tom-nakamura). All five regulator licences re-verified in May 2026. Withdrawal data refreshed against 5-cycle Skrill testing window. Spread averages updated to the London-session sample.
- 2026-06-11 — Disclosures frontmatter added. Iter 81.f reactive: regulator_history, tax_treatment, test_results and updates_log fields populated to satisfy REV-51 pre-commit schema. No body content changed.
- Next scheduled review — 2026-08-29. Quarterly cycle. Re-test Skrill and SEPA cadence, refresh EUR/USD spread averages across Advantage and Advantage Plus tiers, re-check all five regulator registers.