Last update: 19 June 2020
18 min read

FXTM Review

$10 Min. Deposit
N/A Bonus
Open account
Regulatory Body
UK FCA, CySEC, FSC Mauritius
Trading platforms
MT 4, MT4, WebTrader, FXTM Trader App
Customer support
Email, Phone, Live Chat, Social Media
Languages support
Num of instruments

FXTM Review

This FXTM review explores a reliable ECN/Market Maker broker that provides a flexible trading environment to suit any trader’s needs. With attractive trading terms, exceptional customer service, and quality trading tools, this broker is a good choice for both beginners and veterans.

If you’re new to forex trading, FXTM provides all the resources you might need to learn to trade. Great educational resources, an open demo account, and the CENT account ensure that you can learn to trade with little risk.

FXTM is also an excellent choice for experienced traders. You can choose from a wide array of trading instruments, trade via an STP or ECN account, and take advantage of market news and analysis from top providers. You’ll find everything you could need for a great trading experience.

Continue reading our extensive FXTM broker review to learn more about this trustworthy, award-winning broker.


  • ProVaried portfolio of tradable assets
  • ProA variety of demo accounts
  • ProAttractive loyalty program
  • ProExtensive educational resources
  • ProThe best broker for new and experienced traders alike


  • ConDoesn’t accept clients from the United States, Canada, and New Zealand

Company informationCompany information

FXTM online broker was founded in 2011 in Limassol, Cyprus and has since grown to encompass over 450 employees in more than 5 offices across the globe. They pride themselves on offering their clients clarity, transparency, and simplicity.

Highly regulated, FXTM has an outstanding reputation. They are fully committed to offering traders a unique experience by providing exceptional services, a wide range of tools and much more.

FXTM offers a good selection of tradable assets, excellent trading platforms, and extensive educational materials. They are a good choice for beginners and veterans alike.

This broker has also won a series of awards, including 2019 Best European Forex Affiliate Broker Programme from Global Forex Awards, 2019 Best Investment Broker from FXDailyInfo, and 2019 Best Trading Experience from World Finance Awards.

Despite their extensive reach, it should be noted that FXTM does not provide its services to traders in the United States, Canada, New Zealand, and a few other countries.

FXTM regulation and licensingFXTM regulation and licensing

FXTM is comprised of three different companies, namely Exinity Limited, ForexTime UK Limited, and ForexTime Ltd.

These three entities make the FXTM brand available in different jurisdictions. ForexTime UK services British customers, whilst Forextime Ltd provides services to clients residing in the European Economic Area, Switzerland, and South Africa.

Each of these companies is registered with the following regulatory bodies:

  • ForexTime UK Limited with the UK Financial Conduct Authority with license number 777911
  • Exinity Ltd with the Financial Services Commission of Mauritius with license number C113012295
  • ForexTime Limited with the Cyprus Securities and Exchange Commission under license number 185/12, and the Financial Sector Conduct Authority of South Africa with Financial Services Provider license number 46614

ForexTime Limited is also registered with several other regulatory bodies, including in the United Kingdom, Spain, Germany, France, Italy, Norway, and the Netherlands.

Our FXTM forex broker review team concluded that this broker is subject to some of the strictest regulatory authorities in the industry. Regulatory compliance is one area where you don’t need to worry about with FXTM.

In terms of client protection, FXTM holds all client funds in segregated accounts at top-tier banks. This way, if the company were to ever go bankrupt, your money won’t go towards paying off any outstanding debts the firm might have.

UK clients are also protected by the Financial Services Compensation Scheme. According to the scheme, eligible clients can receive compensation up to £85,000 if FXTM fails.

European clients also receive additional protection through the Investor Compensation Fund. The latter will compensate you up to EUR 20,000 if FXTM becomes insolvent or ceases trading.

FXTM is obligated to submit periodical financial reports to the regulatory bodies they are registered with. This is to ensure that they have adequate levels of capital and are meeting the strict financial standards imposed by these authorities.

Our FXTM review experts also found that this broker takes excellent steps to protect client information. They employ SSL network security protocols to make sure all communications and transactions are secure.

Opening an account with FXTMOpening an account with FXTM

Opening an account with FXTM is a quick and easy process. Due to the variety of account types available minimum deposit fees vary, but these are achievable and correspond appropriately with the trading requirements of each account type.

What is the minimum deposit at FXTM?

Our FXTM review team found that this online broker offers a wide selection of account types to match the skill levels and trading requirements of their clients. Below you will find a summary of the deposit requirements of each account type available at FXTM.

  • Cent Account: minimum deposit of $10
  • Standard Account: minimum deposit of $100
  • ECN Zero Account: $200
  • ECN Account: $500
  • FXTM Pro: $25,000

How to open an account at FXTM

FXTM makes account registration quick and easy. The entire process is digital and requires that you provide some basic personal information as well as some details regarding your trading intent. Our FXTM broker review team has compiled a step-by-step list for you to follow when creating your trading account.

  • Step 1: Provide your initial personal details. Here you will be asked to give your first name, last name, country of residence, phone number, and email. This is also where you set your account password.
  • Step 2: Give further personal details. You will be asked to provide additional personal information including your date of birth, gender, level of education, professional and business activity.
  • Step 3: Inform FXTM about your financial background. This section will cover your experience with trading as well as information regarding your wealth and income.
  • Step 4: Supply details about your trading experience. This is a more in-depth look at your trading background including if you have been trading in Forex/CFDs/Spread betting. You will also be asked to fill out a brief questionnaire testing your general trading knowledge.
  • Step 5: Open a trading account. Depending on the answers you have provided in the previous questionnaire you will be suggested a trading account type. Here you can fill out your leverage, set the account name and password.
  • Step 6: Supply verification documents. The final step before you can start trading. Submission of your proof of residency and identification is required for full account verification.

To summarize, you will be required to submit the following information:

  • Personal information – Name, address, email, tax residency info, identification number, tax number (optional), employment information.
  • Regulatory information – Estimated wealth, income, source of wealth, source of income, source of trading funds, trading experience, intent of trade.
  • Documentation – Proof of residency, proof of identification, joint account verification (for joint accounts only).

Account typesAccount types

FXTM online forex broker offers both standard and ECN accounts. You can opt for a Standard, Cent, Shares account, or for an ECN Zero or ECN account.

The CENT account is ideal for beginner traders as you can trade with micro-lots. With this account, you can trade 25 currency pairs and 2 spot metals. This account features floating spreads starting at 1.5 pips.

The Standard account allows you to trade 59 currency pairs, 5 spot metals, and 14 spot CFDs. International clients can also trade 4 cryptocurrencies. The Standard account also allows trading with micro-lots. Floating spreads start at 1.3 pips.

The Shares Account is dedicated to customers who want to trade share CFDs. It provides access to over 180 shares.

The ECN Zero Account is commission-free and features spreads starting at 1.5 pips. The ECN Account differs from the ECN Zero Account in that it features spreads starting at 0.1 pips, but you’ll also have to pay a commission of $2 per lot.

Professional accounts

Our review of FXTM online broker revealed that they offer an account specifically tailored to professional traders, name the FXTM Pro account. The main advantage of the FXTM Pro Account is that it offers spreads of 0 pips. However, this is applicable only if the account has a minimum balance of $25,000. To qualify for a professional account:

  • You must have traded at least 10 lots per quarter over the past four quarters.
  • Your portfolio must exceed EUR 500,000.
  • You must have a minimum of one year of professional experience in the financial sector.

UK and EU clients are offered a maximum leverage of 1:30, which varies according to instrument. International clients can enjoy a maximum leverage of 1:1000, except for the FXTM Pro Account, which offers a maximum leverage of 1:200.

Demo accounts

FXTM offers a demo version for most of their live accounts, other than the Shares Account and FXTM Pro Account. A demo account is very useful for beginners as you can apply what you are learning in a real trading scenario without risking any money.

By offering demo versions of their live accounts, this broker also provides you with the opportunity to discover the best type of account for your trading style. It’s something that our FXTM review experts were very pleased with.

Islamic accounts

FXTM offers swap-free accounts for all account types in accordance with Sharia Law requirements. The only exception is those account types that use MT5, and Islamic account holders will not be able to trade some exotic currency pairs.

Should you wish to open an Islamic trading account simply enable ‘swap-free’ mode from your accounts option page. It is worth noting that some country restrictions apply.

FXTM trading costsFXTM trading costs

Our FXTM review team found that the spreads this broker offers on their standard accounts are on par with most other popular brokers. Likewise, the commissions they charge for ECN lots are also in line with the market.

Trading Fees*
Type of FeeCost
Minimum Order Size (lots per trade)0.01
Average Spread USDEUR (pips)1.3
Commission (%)0
Commission on Islamic Accounts (%)0

Non Trading Fees
Type of FeeYes or No
Inactivity FeeY
Deposit FeeN
Withdrawal FeeY

*Based on standard account type.

In terms of FXTM’s overnight carry fees, this broker charges rates that are in line with market averages, like many other trusted brokers.

Deposits do not incur any fees, and FXTM promises to reimburse any charges you might incur from third parties. However, some withdrawals are subject to fees. For example, UK and EU clients are subject to a credit card withdrawal fee of $3. Bank transfers incur fees of EUR 20 or GBP 25. Neteller and Skrill withdrawals are free, but Yandex money and Qiwi Wallet incur a 1.5% fee.

International clients can enjoy some free withdrawals, depending on their location and the withdrawal method being used. Otherwise, fees start at $1 and can go as high as 2% of the amount being withdrawn. Bank transfers incur fees of EUR 30.

Our FXTM review team also discovered that this broker charges a $5 inactivity fee for accounts that haven’t been used for six months.

FXTM payment methodsFXTM payment methods

FXTM offers a wide range of payment methods, with some international clients being able to enjoy local payment solutions.

UK customers enjoy access to most major credit cards, bank transfers, Neteller, and Skrill. EU clients also have access to Yandex money and Qiwi Wallet.


International clients are spoiled for choice. Local payment solutions are available for some countries, such as Vietnam, Palestine, Egypt, Nigeria, and Malaysia. Cryptocurrency payments are also available, as are a wide range of e-wallets, such as Dixipay and WebMoney.

Deposits for international clients via credit cards are usually processed instantly, as well as those made via most e-wallets. Bank transfers can take between 3 and 5 days.

UK and EU clients will have to wait approximately 2 hours for their deposits to be credited to their accounts, whereas bank transfers take between 3 and 5 days.

Withdrawals for EU and UK clients are processed the same business day, except for bank transfers which take 24 hours. Funds take up to 5 business days to reach your bank account after FXTM has processed the withdrawal request.

International clients will find that most withdrawals are processed within 24 hours of a request being submitted.

FXTM trading bonusesFXTM trading bonuses

Our FXTM review team found that this broker offers an attractive loyalty program to clients with ECN Zero or Standard accounts. Based on your account balance, you will receive differing levels of discounts.

International clients (non-EU)are also offered advantageous bonuses, promotions, and trading contests. You can also earn some extra cash through the referral program. You and the person you refer can each earn $50. The maximum you can earn through this program is $10,000.

FXTM trading platformsFXTM trading platforms

FXTM offers the most popular trading platforms in the world, namely MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms feature a wide range of charting and analytical tools and allow you to use trading platforms.

The web browser version of both these platforms is also available. While not quite as comprehensive as their desktop counterparts, they still offer all the tools you need to trade effectively.

It should be noted that STP accounts can only use the MT4 platform.


What is the execution policy at FXTM?

Our review of FXTM forex broker’s execution policy shows that the company focuses on the best practices to bring their clients a fair and efficient trading experience. From clearly stated execution times to defined maximum order volume, FXTM operates honestly and transparently.

When it comes to speed of execution, FXTM ensures that it will take whatever measures are necessary to ensure your orders are handled in a high-speed fashion. In general, the only limitations to the most rapid executions would be those of a technological nature, such as poor internet connection or server & platform issues.

FXTM offers a variety of accounts, each with different ordering restrictions. For instance, the maximum number of orders for the Standard account is 100, while the Cent account allows for 300 orders. The Pro Account impressively has no maximum number of orders, but there is a restriction of 300 pending orders. The company does reserve the right to decline any order made by a client, but FXTM strives to accept every order which is in line with market prices.

FXTM also offers clients the ability to place various limitations on their trades such as a Buy Limit, Buy Stop, Stop Loss, and Take Profit. These orders shall be executed once the pre-set parameters have been met in every possible circumstance. In the event of certain trading conditions preventing immediate execution of these limitations (such as rapid price movement), the company reserves the right to execute the order at the next available price.

FXTM markets and productsFXTM markets and products

With 250+ financial instruments to choose from FXTM has it all. From Forex to Commodities you’ll have instant access to the exciting world of financial markets delivered through a reputable and regulated broker.

FXTM Markets and Products
Spot Metals5


FXTM offers its clients a rich portfolio of currency pairs to trade on. With majors, minors, and exotic pairs on offer, this broker grants you access to one of the most widely traded on markets in the world.

Spot metals

Start your precious metals trading journey with FXTM. With options to trade both gold and silver against major currencies, this online broker allows you to take your trading to the next level.

Share CFDs

If you have an interest in trading the shares of some of the most recognizable companies on the market, FXTM has you covered. With big names such as Apple, Mattel, Johnson & Johnson, and American Eagle on offer, you can take advantage of CFD trading with the assurance of a reputable broker.

CFDs on commodities

Energy products have been a popular commodity to trade on for quite a long time. Now you can have access to UK Brent oil, US crude oil, and US natural gas through FXTM.

CFDs on indices

Take advantage of FXTM’s fantastic range of international indices. With markets such as Dax 30, SP500, and the UK100, you’ll have access to the world’s most active securities.


While some country restrictions apply, FXTM has recently added cryptocurrency trading to its portfolio. Enjoy an added layer of security when placing trades on BTC, ETH, LTC, and XRP.

Social trading

Our FXTM review team were pleased to discover that this broker offers social trading. The FXTM Invest account allows you to copy other FXTM traders. You can choose which traders to copy, after which everything happens automatically. The minimum deposit for this account is $100, which will grant you instant access to this fantastic social trading program.

Mobile compatibilityMobile compatibility

While conducting this FXTM review, our experts discovered that this broker’s website is mobile responsive, which means it’s easy to navigate using any device.

In terms of trading, FXTM offers mobile versions of MT4 and MT5. This broker also offers a proprietary mobile trading app, named FXTM Trader App.

The FXTM Trader App features excellent charting tools, real-time updates, one-click trading, and more. You also have access to your MyFXTM dashboard, allowing you to easily manage your account no matter where you are.

Regardless of which platform you opt for, with FXTM, you can easily trade on the go. However, our FXTM review team recommends at least checking out the proprietary app due to the easy access to your account dashboard.

Research toolsResearch tools

FXTM offers quite a few trading tools, including daily market analysis, trading signals, an economic calendar, and VPS trading. Each of these tools is uniquely tailored to enhance your trading performance and sharpen your trading strategies.

Stay up to date with major events across global markets with FXTM’s daily market analysis. You’ll find informative articles written by industry experts that clearly define shifts, trends, and other occurrences as they happen. This resource is a great way to stay informed in one convenient location.

If you’re looking to stay up-to-date with fluctuations in key financial instruments, FXTM’s trading signals might be perfect for you. Developed by their Head of Education, this tool is designed to help keep you one step ahead of market trades and maximize your earning potential.

Major economic indicators such as index releases are crucial to follow when properly honing your trading strategies. FXTM’s economic calendar presents key facts and figures released by global economies in a clear and precise fashion, making it an easy one-stop location for important economic announcements.

FXTM provides a host of useful calculators and converters that you may find helpful for your trading performance. These include a currency converter, margin calculator, pip calculator, profit calculator, and invest profit calculator. Save time on your estimations and figures by utilizing these helpful tools.

Education and trainingEducation and training

Our FXTM review experts were pleased to discover that this broker offers a wide range of educational materials in a variety of formats.

They offer everything from eBooks and videos to seminars and live webinars. There is also a wide range of articles and tutorials, taking you from beginner trading concepts to more advanced topics.

FXTM customer supportFXTM customer support

While conducting our review of FXTM forex broker, we made sure to test their customer support team. Not only were they quick to respond, but they were very knowledgeable as we didn’t have to wait to get answers to our questions.

FXTM offers support via live chat, phone, email, and social media. Emails can take a few hours for a reply, which is why we recommend the live chat.

Support is available in multiple languages, between Monday and Friday, from 8 AM to 8 PM for EU and UK customers.

International customers enjoy access to support 24 hours a day from Monday to Friday, between 11 AM and 4 PM on Saturdays and 12 PM to 8 PM on Sundays.

All times are GMT+2 or GMT+3 Daylight Savings Time.

FXTM – Our verdictFXTM – Our verdict

This FXTM 2020 review concludes that this is an outstanding broker for beginner, experienced, and professional traders.

As a beginner, you’ll be able to learn to trade with all the educational resources available and then test your knowledge using a demo account. The CENT account allows you to experience the psychology of trading with real money without too great of a risk.

If you are an experienced or professional trader, you will be able to enjoy great trading tools, accounts tailored to your specific needs, quality trading platforms, and more.

Open an account with this award-winning broker today to take advantage of a truly unique trading experience.

Frequently asked questions (FAQ)

Is FXTM regulated? Arrow
Does FXTM offer a bonus? Arrow
What FXTM account types are there? Arrow
What is the minimum deposit at FXTM? Arrow
Is FXTM a scam? Arrow

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1 comment on “FXTM Review”

  1. Thokozile says:
    Country & city: South Africa
    No I do not have any experience for trading itself let alone the broker, but if I read the review I think this is the right to join.