FXTM or ForexTime, a dynamic trading platform, is one of the global leaders in online forex trading, which has a presence in over 150+ countries, with more than 1 million clients, and more than 45+ Awards under its belt. If you are trying to find out if this platform suits you, then you are at the right place to know all about it.
This FXTM review highlights the forex trading platform’s user experience, features, services, pros and cons, trading platforms, market instruments, live account opening process, floating leverage, hidden fees, payment methods, trading fees, & many more.
Key Takeaways
- Provides dedicated mobile Trading app with real-time updates and market analysis.
- Offers a rich selection of trading instruments, including forex, commodities, indices, and cryptocurrencies.
- It offers a wide range of educational resources ideal for beginners and advanced traders.
- Multi-lingual customer support is available 24/7 for a seamless user experience.
- Regularly hosts promotions and Affiliate programs for new and existing traders.
FXTM Overview
| Regulations | FCA (UK), FSCA (South Africa), FSC (Mauritius). |
| Supported Languages | English, Arabic, Chinese, French, German, Hindi, Spanish, etc. |
| Products | FX, Metals, Commodities, Stock CFDs, Indices, Cryptocurrencies, Trade CFDs, Stocks. |
| Minimum Deposit | For Advantage stocks-> $200 For Advantage & Advantage Plus Accounts -> $/€/£ 200 |
| Max Leverage | Up to 1:3000(floating) |
| Trading Desk Type | ECN, STP |
| Trading Platforms | MetaTrader 4, MetaTrader 5, FXTM Trader App |
| Deposit Options | Bank Wire, Credit/Debit Cards, Skrill, Neteller, PayPal |
| Withdrawal Options | Bank Wire, Credit/Debit Cards, Skrill, Neteller, PayPal |
| Demo Account | Yes |
| Foundation Year | 2011 |
| Headquarters Country | Mauritius |
Our Take On FXTM Forex Broker
FXTM is a well-regarded forex broker and one of the top forex brokers in South Africa, known for its user-friendly platforms and diverse offerings. Catering to both novice and experienced traders, FXTM provides an extensive range of tradable instruments, including forex, stocks, commodities, and cryptocurrencies, to help traders further diversify their portfolios. This is due to the strong regulatory oversight of authorities like FCA (UK), FSCA (South Africa) and, in particular for traders based on Australia or Southeast Asia — from ASIC. FXTM’s multiple account types, competitive spreads, and educational resources make it an excellent option for traders of all skill levels, offering a balanced mix of accessibility and advanced tools.
Pros and Cons
| Pros | Cons |
| Regulated by multiple financial authorities, ensuring a secure and regulated trading environment. | Sometimes, delays in Withdrawal Processing Time. |
| Offers various account types to cater to different trading styles. | Offers a limited range of deposit and withdrawal methods. |
| Offers a variety of educational materials, including webinars, tutorials, and market analysis. | The fee structure can be somewhat complex, especially for newer traders. |
| It provides different trading platforms, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and a Mobile Trading App. | |
| Offers responsive customer support through various channels. |
FXTM Key Features and Services
FXTM stands out as a trusted forex broker, providing traders with cutting-edge platforms, fast execution speeds, and various account types tailored to individual needs. With robust educational resources and advanced trading tools, it empowers traders to maximize their potential. Dive into the key features and services below to learn how FXTM can enhance your trading experience.
FXTM Security and Regulations
FXTM ensures high client protection through strict regulatory oversight and advanced security measures. It is regulated by the Capital Markets Authority (CMA) of Kenya, the Financial Conduct Authority (FCA) in the UK, and the Financial Services Commission (FSC) of Mauritius, among others. Client funds are kept in segregated accounts, separate from operational funds, and all transactions are secured using SSL encryption. Additionally, FXTM is a member of the Investor Compensation Fund, ensuring client compensation in case of company insolvency, reinforcing its commitment to safety and transparency.
FXTM Trading Platforms
Every trader has different requirements for forex trading, and flexibility becomes an important aspect for forex brokers to provide. For this reason, FXTM has developed industry-leading platforms with helpful features such as live currency rates, impressive charting tools, and many more. The trading platforms available at FXTM are:–
MetaTrader 4
FXTM trading platform believes in providing multiple options, which has led the forex and CFD broker to offer the classic and award-winning forex trading platform, MetaTrader 4, available on Mac, PC, tablet, and mobile so that traders can enjoy online trading on the go. The MT4 trading platform on FXTM supports multiple languages, more than 20 languages, and is compatible with both demo accounts and live ECN accounts. It is an industry-standard trading platform that provides access to financial instruments and markets, CFDs, indices, stock trading, and forex. The platform is free to use and allows traders to manage their trades and analyze different markets.
The MT4 platform offers interactive charts that are easy to read, and traders can analyze the markets in real-time. They also access over 30 technical orders indicator that helps them identify market trends and FXTM trading signals. Other notable benefits of the FXTM MT4 trading platform include the robust security system, multi-device functionality, and multi-account manager (MAM) for ultimate convenience and easy management of trades. Note that the MetaTrader 4 trading app is also available, revolutionizing the trading experience as traders can now react to trade movements at lightning speed on any platform or device, including iPhone or Android.
MetaTrader 5
FXTM also offers the most versatile and latest technology and software, MetaTrader 5, which is the ultimate successor of MetaTrader 4. The platform is suitable for both new as well as more experienced traders. The smart user interface of MT5 enhances the entire training experience and provides several additional trading features. The platform can be downloaded on different devices. It is a market leader and future trading platform for trading it is suitable for both demo accounts and live ECN accounts.
Trading on the MetaTrader 5 trading platform via FXTM allows greater access to financial markets such as indices, stock CFDs, commodities, futures, and forex. Its fundamental, functional technical analysis, automatic trading, and copy trading are completely built-in, where strategy managers help you out, equipping traders with some of the best instruments and technical tools available in the market. In addition, MT5 offers several transaction types, an economic calendar, an email system, and 44 graphical objects.
Other benefits also include simple fund transfers between different live account types, a multi-threaded trading strategy tester, and an improved price alert mechanism that keeps the traders updated about all the current events. Like MT4, MT5 also offers an FXTM mobile trading app with additional flexibility and revolutionary trade experiences. It lacks its own trading platform
Mobile Trading App
- FXTM has developed a customized mobile trading platform known as FXTM Trader, which gives users access to the financial markets from anywhere, anytime, and on the go. The FXTM Trader app can be downloaded for free on iOS and Android devices.
- The mobile trade platform allows traders to modify, open, and close positions on more than 250 CFD and forex instruments on a demo and a live account. This social trading broker offers a user-friendly dashboard, trading charts, and live currency rates updated 24 hours a day, 5 business days a week.
- Mobile users can also get unlimited access to MyFXTM, where they can deposit fees, withdraw funds, and monitor their funds in milliseconds. The one-click trade feature has been made faster than the desktop trading platform version. Furthermore, a biometric login is also provided on both MT4 and MT5 platforms, and the MetaTrader platforms are accessible from the mobile app.
FXTM Fees
According to this FXTM broker review, FXTM is a transparent platform where all the fees, trading costs, and commissions are mentioned on the official website. FXTM is a good broker to trade with, but traders must consider the spreads as they may fluctuate during certain periods depending on the market conditions.
Let us now learn more about the FXTM minimum deposit and withdrawal options, followed by trading and non-trading fees, FXTM commissions, & more.
Leverage & Margin Requirements
Every trader must maintain the minimum deposit money in their account for situations when they lose money when trading, which is the margin requirement, also known as the good faith deposit funds, which do not involve risks. Understanding and calculating the necessary margin requirement and minimum deposit requirement allows traders to manage risk and avoid closing a trade position due to insufficient margin in their trade account.
Note that FXTM leverage is fixed depending on the financial instruments being traded. For FX Indices, the leverage is 1:500, and the maximum leverage is Up to 1:3000(floating). The margin requirement differs for every instrument group, so traders are highly recommended to find more information from the official website before investing real money.
Deposit Methods
FXTM strives to offer the most secure and fastest deposit options, which include bank cards, bank transfers, bank statements, and secure bank wire e-wallets. The platform is regulated, has multiple jurisdictions, and is authorized to operate across several jurisdictions across 180 countries. FXTM brokers must include various deposit options to cater to a wider community section. Traders can use the following deposit method at FXTM:-
- Credit cards, including Visa, MasterCard, Maestro
- E-wallets, including Skrill, Neteller, and DotPay
- Bank Transfers via Hellenic Bank account
Withdrawal Methods
Like most brokers, Traders at FXTM can withdraw funds on the same business day using any of the withdrawal options used to deposit funds at the platform. To withdraw money from FXTM, traders can use the following withdrawal methods:-
- Credit cards, including Visa, MasterCard, and Maestro
- E-wallet including Skrill and Neteller
- Bank Transfer/Bank wires
Most withdrawal methods guarantee processing the withdrawal request on the same day, except the Skrill withdrawal method may take 1-2 business days to complete. But overall, to withdraw money & the bank transfer process is smooth.
FXTM Commissions
- FXTM, a mobile trading platform, accepts clients from various countries and supports the following currencies – USD, EUR, and GBP. Note that FXTM does not charge any deposit fees or commissions, which makes the social trading platform one of the most desirable options in the market, as per our research and FXTM reviews. In addition to this, FXTM does not charge any forex fees or non-trading fees & trading costs are reasonable.
- Unlike the deposit fee, FXTM charges a withdrawal fee for certain payment methods/funding methods. For instance, withdrawals made via credit cards may incur a withdrawal fee of 2 EUR/3 USD/2 GBP, and bank wire transfers may charge 25 GBP/20 EUR for making withdrawals. Minimum commission is $25 per on FX, Metals and CFDs.
- Apart from the deposit and withdrawal fees, FXTM charges an inactivity fee if an account is deemed inactive. FXTM applies an inactivity fee of 5 USD/EUR/GBP if a social trading account or demo account remains inactive for a period of six months or more. The platform also reserves the right to charge broker fees of 3% if there is no trading activity at the platform.
FXTM Trading Account Types
FXTM offers different account types for all kinds of traders, including beginners, long-term investors, and FX experts. Each account type comes with its own set of benefits designed to offer more to the trading experience of the individuals using the platform.
FXTM offers three primary account types, each tailored for different levels of traders:
Advantage Account
This is FXTM’s most popular account, featuring tight spreads from 0.0 pips on major forex pairs and low commissions. It is good for beginners and advanced traders, and the minimum deposit here is also $200. It offers the trading of multiple instruments (including forex, metals, indices commodities, and crypto) on both MetaTrader 4 (MT4) & MetaTader5(MT5). Leverage goes up to 1:3000
Advantage Plus Account
This account is suitable for intermediary or advanced traders, and there are no commissions, with spreads of 1.5 pips. For instance, similar to the Advantage account it requires a minimum deposit of $200 and opens up the full range of instruments on offer across MT4 and MT5 platforms. Similar instruments to the Advantage Account but has a broader offering of assets Leverage up to 1:3000. This account is designed for commission-free trades
Advantage Stocks Account
Designed specifically for stock trading, this account focuses solely on U.S. stocks, with spreads starting at $0.06 per share. It requires a $200 minimum deposit, offers zero commissions, and provides 1:1 leverage. It is available only on MetaTrader 5. It focuses on trading U.S. stocks and provides a targeted approach for stock traders.
Open an Account with FXTM
The registration and account opening process at FXTM is simple and completely digital, as per our FXTM review. The online registration takes about 25 to 30 minutes to complete, and even a demo account is easy to open. Follow the simple steps mentioned here to open an account with the FXTM platform.
- To open an account, go to the official website of the FXTM platform and navigate to the orange Open Account tab in the right-hand corner of the landing page.
- A registration field will appear on the screen for traders to fill in with their e-mail address, country of residence, name, phone number, and password.
- To open an account, choose an FXTM Pro account or any other one, and add additional personal details like your level of education and current address.
- Answer a few financial questions, describe your experiences, and provide background information, then fill out a form about financial knowledge.
- Before opening the FXTM Pro account, all traders must verify their identity and residential address by submitting/uploading a photocopy of their passport, driver’s license, government ID, and a utility bill or local bank transfer statement.
The account verification process takes about a few minutes, and the brokers create an account as soon as the verification is complete so that traders can start trading at FXTM with a minimum deposit.
Trading Instruments by FXTM
FXTM trading platform offers access to an array of asset classes, including FX, metals, indices, and commodity trading. Traders can trade with tight spreads and fast execution, from currency trading to CFD trading on rapid and real-time price movements. Let’s find out the different trading instruments provided by FXTM:-
Forex
Traders at FXTM can explore and trade forex and forex indices with major, minor and exotic currency pairs. Trading currency pairs at FXTM has enabled traders to benefit from the FX by buying and selling currencies using the FXDM forex broker as an intermediary facilitating the transactions. The traders can take advantage of zero spreads on major forex pairs and FXTM’s ultimate transparency and performance statistics, including slippage, order execution, and requote.
Metals
Traders can also trade silver and gold with the FXTM platform, including XAGEUR, XAGUSD, XAUEUR, XAUGBP, and XAUUSD. Compared to the forex market, silver and gold stock prices are not heavily affected by economic and political events; hence, this asset class of precious metals has the additional benefit of being unaffected by inflation. Traders who exchange metals at FXTM can access price charts and use short-term and long-term charts to determine price movements. After placing a trade, traders can choose to go for short-term volatility or a long-term buy/sell position.
Stocks
FXTM stock trading gives access to direct liquidity pricing and real-time data for NASDAQ and NYSE indices. Note that stock trading activities are available only on the FXTM MetaTrader 5 platform. The spreads for stock trading start at 0 pips. Trading account holders with a minimum balance of £250,000 can become eligible to receive spreads of institutional levels. Lot sizes for stock trading include standard to mini to micro, ranging between 0.01 to 250 lots per trade.
CFD Stocks
Traders at FXTM can also trade on CFD stocks, providing them access to the share marketplace of well-known firms such as Apple and Amazon. One of the greatest advantages of trading CFD stocks at FXTM is that they are easily accessible, and the positions can be opened in bear and bull times. This adds further flexibility to the traders’ trading strategy. FXTM offers easy access to the most popular European and US company shares as contracts for difference or CFD trading platform. This adds greater diversity to the traders’ portfolios. Some popular CFD stocks include L’Oreal, Apple, Volkswagen, Unilever, Cisco, and Baidu.
Commodities
Traders can find additional opportunities while trading on CFD commodities with FXTM. Commodity trading has become more convenient thanks to the FXTM exchange, where traders can access the commodity market more easily than by buying the commodities outright. At FXTM, traders can do trading CFDs on US natural gas, US crude oil, and UK Brent oil. The prices of energy and oil products keep fluctuating based on a number of factors, such as general confidence prevailing in the world economy and demand & supply for the products.
One of the biggest advantages of CFD commodity trading is that traders actually trade on the expectations of price movements, and they do not have to buy an underlying asset as they can take a short or long position and still make profits even when the value of a commodity falls. This provides flexibility to CFD commodity traders and more opportunities to profit from movements.
Indices
Traders at FXTM can choose from prominent securities in Europe, Australia, Asia, and the US and trade on indices. Stock Index trading with an FXTM legit broker offers access to industry-leading indices, the most active securities, and the flexibility to choose to buy and trade from a wide variety of stocks based on their trading strategies.
Traders at FXTM can trade indices including AUS 200 (Australia 200), GDAX (Dax 30), ND 100m (US Tech 100– mini), UK 100, and SP500 (US SPX 500 – mini). Superior trading conditions at FXTM ensure that the traders can access the stock index trading market with suitable leverage appropriate for their trading style. This allows traders to amplify their positions and maximize profits on FXTM.
Cryptocurrency
Traders now can trade popular digital assets like Bitcoin and Ethereum. It is possible to earn profits not only when the market goes up but also in a bearish trend using this approach, as it can long or short and profit from rapid price variations. The leverage of up to 1:1000 allows traders with a higher buying power and potential returns and the possibility that their losses may be aggravated by it.
FXTM Partnership Programmes
Like many other forex brokers, FXTM also offers partnership programs that allow new traders to earn commissions and rebates by partnering with FXTM. The FXTM partnership program is divided into two categories where traders can either register as an introducer or become an affiliate with the platform.
Refer a Friend Program
FXTM broker also offers a referral to a friend program where you get $50, and if your friends join, they will also receive the same amount. You can even earn up to $10000 for referring to a big audience with your link, and the cash earned is withdrawable.
Affiliate Program
Traders at FXTM can also benefit from the enriching affiliate program by promoting the platform to others and getting a chance to earn up to $600 per active trader. Some of the notable features of the affiliate program include:-
- 30-day cookie window
- Monthly guaranteed payments without any earning limits
- Cutting-edge software by CellXpert
- Real-time reporting using the advanced dashboard
- Excellent conversion currency conversion fees
Customer Support offered by FXTM
According to these FXTM broker reviews, FXTM offers great customer support and assistance in multiple languages via different channels. Both existing and new clients can reach the customer support team via live chat, phone support, and email support. FXTM offices are situated in different locations, including Cyprus, Malaysia, Thailand, India, Nigeria, the United Kingdom, Indonesia, and South Korea.
They can also contact customer service representatives via Facebook Messenger, WhatsApp, Viber, Callback, Telegram, and Facebook. The live chat support staffed with real agents is the most responsive support channel, making this communication channel quick and efficient; they are available 24 hours (Mon- Fri). Check the FXTM support page to find email addresses and contact numbers for different locations. Customers can also visit the FAQ section that answers most of the frequently asked questions, including general queries, registration process, verification process, deposits and withdrawal fees, bank account, forex, FXTM Invest, partnership programs, trading fees, and many more.
Educational Resources Offered by FXTM
FXTM has various research tools and educational materials that are perfect for beginners as well as intermediate traders. Even experienced and professional clients can use educational resources to improve their experiences. The educational resources offered by FXTM consist of are below:-
Full Library
FXTM brokers who are committed to keeping their clients up-to-date on the current forex and CFD products, state-of-the-art platforms, accounts, FXTM Invest, and tools. The brokers have developed a comprehensive library, also known as the Beginner’s Guide, to familiarize new traders with forex terminologies, currency pairs, and many more.
Trading Videos
FXTM brokers have produced a list of educational videos developed by John Jergeson, who is a market expert talking about fundamentals and basics as well as advanced tactics of risk control and technical analysis. Trading videos also cover other essential subjects consisting of personal psychology, market psychology, the use of trade indicators, and many more aspects that can be valuable learning information for traders of all experience levels.
Ebooks
FXTM Ebook library is helpful for both new and experienced traders. The e-books help improve results and cover a range of topics, including cryptocurrencies, the Elliott Wave Theory, the Bullish Japanese Candlesticks and Strategies, and many more. All the traders need to do is register with FXTM to download the ebooks for free.
Trading Tools
FXTM brokers offer several useful trading tools that allow traders to trade the markets efficiently. Right from technical analysis trading ideas to news flows, the tools can be accessed from different locations – the MT4/MT5 platforms, the Trading Services section, and the Market Analysis section. Some of the important tools offered by FXTM include:-
- Daily Market Analysis
- FXTM Trading Signals
- Pivot Points Strategy
- Economic Calendar
- Forex News Timeline
- Currency Converter
- Margin Calculator
- Pip Value Calculator
- Profit Calculator
- Invest Profit Calculator
Pip Calculator
The PIP calculator shows the value of pips in the currency that the traders want to trade in. The pip value is calculated by multiplying the trade amount in lots by 1 pip in decimal form and dividing it by the existing exchange rate of the currency in the trader’s chosen pair. Pip or point in percentage measures the movement in the exchange rate between two currencies. New traders can use the PIP calculator available on ForexTime limited to calculate the PIPs for their currency pairs.
Glossary
FXTM features a forex glossary that explains the most important terms of the forex industry. This is the most important educational resource, especially for beginners who need to grasp forex jargon, as understanding the vocabulary is extremely important in every trader’s journey. The forex glossary is composed of various important keywords, trading terminology, and phrases related to forex.
Our Conclusion
To conclude this FXTM review, the forex brokers at ForexTime have put forward a leading global brand that offers various opportunities in the financial markets to those who wish to earn profits from forex and CFD. It is one of the most established brands within the Exinity Group, specializing in leveraged trading and offering great potential to generate positive returns from forex currency prices, indices, shares, commodities, and stock CFDs.
Before a trader decides to trade forex or any financial instrument, they must carefully consider their experience level, investment objectives, market sentiment, competitive trading conditions and risk appetite. Note that this review of FXTM does not provide investment advice, so traders must be careful while using Stock CFDs. There is a high risk of losing money when trading CFDs.
FAQs
Is FXTM a trusted broker?
Yes, FXTM is regarded as a trusted broker with multiple regulatory licenses from respected authorities, including FCA (UK), FSCA (South Africa), and FSC (Mauritius). Their commitment to transparency, robust security measures, and various trading options further enhance their reputation among traders globally.
What are the disadvantages of FXTM?
FXTM has one disadvantage i.e- it has less spread than other competitors, which can also cause traders to lose money.
Is FXTM Safe and Legit?
FXTM is considered a safe and legitimate broker regulated by multiple authorities, such as the FCA and FSCA. It is a trustworthy trading environment with focus on client protection.
Which country owns FXTM?
FXTM, or ForexTime, is a global forex broker primarily owned and operated by Exinity Limited. The company is headquartered in Mauritius and is regulated by various financial authorities worldwide.
Is FXTM an Islamic broker?
No, FXTM is not an Islamic broker. However, it does provide swap-free accounts that cater to Muslim traders, allowing them to trade under Islamic principles.
Can I withdraw from FXTM?
Yes, you can withdraw funds from your FXTM account. The process is straightforward, but ensure you meet the necessary verification requirements and adhere to the withdrawal methods available for your region.
Disclaimer: CFDs are complex instruments with a high risk of losing money rapidly due to floating leverage. You must have a working knowledge of forex and CFDs and whether you can afford to risk losing money when trading CFDs.
