FXTM or ForexTime was founded in 2011 and is a global CFD and FX broker. It is regulated by several financial authorities, including the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).
FXTM is considered safe because it is regulated by the top-tier FCA.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
XTM pros and cons
FXTM customer service gives fast and relevant answers. They can be contacted in several languages. You can use a lot of educational tools, including a demo account and live webinars. Account opening is fast and fully digital.
On the negative side, FXTM has high CFD fees. It also charges an inactivity fee and in most cases, a withdrawal fee. The product portfolio is limited, as it lacks some asset classes like ETFs, bonds, mutual funds, etc.
Pros | Cons |
---|---|
• Superb customer service | • High CFD fees |
• Great educational tools | • Inactivity and withdrawal fees |
• Digital and fast account opening | • Limited product portfolio |
🗺️ Country of regulation | Cyprus (and license from South Africa), UK, Mauritius |
💰 Trading fees class | Average |
💰 Inactivity fee charged | Yes |
💰 Withdrawal fee amount | $3 |
💰 Minimum deposit | $10 |
🕖 Time to open an account | 1 day |
💳 Deposit with bank card | Available |
👛 Depositing with electronic wallet | Available |
💱 Number of base currencies supported | 4 |
🎮 Demo account provided | Yes |
🛍️ Products offered | Stock, Forex, CFD, Crypto |
FXTM’s trading fees are low for forex, but high for CFDs. There is also a withdrawal fee.
Pros | Cons |
---|---|
• Low forex fees | • Withdrawal fee |
• Low financing rate | • High CFD fees |
Assets | Fee level | Fee terms |
---|---|---|
S&P 500 CFD | Low | The fees are built into the spread, 1 point is the average spread cost during peak trading hours. |
Europe 50 CFD | Low | The fees are built into the spread, 3 points is the average spread cost during peak trading hours. |
EURUSD | Low | ECN account pricing: only opening a position is charged and the commission is based on your account balance and monthly trading volume. There is also a spread cost; 0.5 pips is the average spread cost during peak trading hours. |
Inactivity fee | Low | $5 per month after 6 months of inactivity |
How we ranked fees
We ranked FXTM’s fee levels as low, average or high based on how they compare to those of all reviewed brokers.
To get things rolling, let’s go over some lingo related to broker fees. What you need to keep an eye on are trading fees, and non-trading fees.
- Trading fees occur when you trade. These can be commissions, spreads, financing rates and conversion fees.
- Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees.
In the sections below, you will find the most relevant fees of FXTM for each asset class. For example, in the case of forex and stock index trading, the most important fees are spreads, commissions and financing rates.
We also compared FXTM’s fees with those of two similar brokers we selected, XM and XTB. This selection is based on objective factors such as products offered, client profile, fee structure, etc. See a more detailed rundown of FXTM alternatives.
To have a clear overview of FXTM, let’s start with the trading fees.
FXTM trading fees
FXTM trading fees are average.
FXTM offers several account types that have different fees. We tested the ECN account, which has low spreads but charges a commission. The commission for ECN accounts is lower, if you have a higher account balance and/or trade more. We calculated the commission for an account balance between $0-$2,999 and trading volume of less than $100 million.
We know it’s hard to compare trading fees for CFD brokers. So how did we approach the problem of making their fees clear and comparable? We compare brokers by calculating all the fees of a typical trade for selected products.
We have chosen popular instruments within each asset class:
- Stock index CFDs: SPX and EUSTX50
- Stock CFDs: Apple, Vodafone
- Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP
A typical trade means buying a leveraged position, holding it for one week and then selling. For the volume, we chose a $2,000 position for the stock index and stock CFDs and $20,000 for the forex transactions. The leverage we used is:
- 20:1 for stock index CFDs
- 5:1 for stock CFDs
- 30:1 for forex
These catch-all benchmark fees include spreads, commissions and financing costs for all brokers.
CFD fees
FXTM has high CFD fees.
FXTM | XM | XTB | |
---|---|---|---|
S&P 500 index CFD fee | $2.2 | $1.6 | $1.4 |
Europe 50 index CFD fee | $2.4 | $2.4 | $1.8 |
See more
Forex fees
FXTM’s forex fees are low.
FXTM | XM | XTB | |
---|---|---|---|
EURUSD benchmark fee | $8.2 | $9.5 | $8.3 |
GBPUSD benchmark fee | $7.4 | $8.4 | $6.0 |
AUDUSD benchmark fee | $7.0 | $10.3 | $6.5 |
See more
You might want to dig deeper and check FXTM trading fee calculations in more detail. Let’s do so.
The forex fees are different based on the account type you choose:
- Standard accounts: spreads are higher, but there is no commission.
- ECN accounts: it charges a commission, but the spreads are lower. The commission is charged only for opening a position and can be lower if you trade more and/or hold a higher account balance. There is a formula for calculating the commission: (Volume * Contract Size * Open Price) / 1,000,000 * Commission * 2. The commission factor in this formula varies according to the table below:
Account balance | Trading volume (in million USD) | |||
---|---|---|---|---|
Less than 100 | 100 – 150 | 150 – 250 | Over 250 | |
$0 – 2,999 | 20 | 19 | 18 | 15 |
$3,000 – 4,999 | 19 | 18 | 17 | 14 |
$5,000 – 19,999 | 18 | 17 | 16 | 13 |
$20,000 – 49,999 | 17 | 15 | 13 | 11 |
$50,000 – 199,999 | 16 | 13 | 11 | 9 |
$200,000 – 499,999 | 14 | 12 | 10 | 8 |
$500,000 – 999,999 | 13 | 10 | 8 | 6 |
$1,000,000 – 4,999,999 | 12 | 9 | 6 | 4 |
Over $5,000,000 | Determined on an individual basis |
Real stock fees
If you are a non-EU client, you can also trade commission free with real stocks from the NYSE and NASDAQ stock exchanges.
As of 2020, FXTM charges no commissions and dealing charges. You can also access real-time price data.
Non-trading fees
FXTM has high non-trading fees. You’re charged $5 per month after six months of inactivity and most withdrawal methods also have a fee. As a plus, there are no account or deposit fees.
FXTM | XM | XTB | |
---|---|---|---|
Account fee | No | No | No |
Inactivity fee | Yes | Yes | Yes |
Withdrawal fee | $3 | $0 | $0 |
The withdrawal fee varies based on your country of residence, the method you use, and the currency you make the withdrawal in.
FXTM review
Account opening
5.0 To experience the account opening process, visit FXTM
FXTM account opening is fully digital, easy and fast. Your account will be ready within 1-2 business days. There are also a lot of account types you can choose from.
Pros | Cons |
---|---|
• Fast | None |
• Fully digital | |
• User-friendly |
FXTM accepts clients from all over the world. There are only a few exceptions, e.g. you can’t open an account, if you’re from the USA, Japan, etc.
What is the minimum deposit at FXTM?
The required FXTM minimum deposit is different for the various account types. It’s $10 for the Cent accounts, $100 for Standard and Shares accounts, $200 for Zero ECN account, and $500 for ECN accounts.
Account types
There are a lot of account types you can choose from. The account types differ according to the countries they are available in, the pricing, the minimum deposit, the available trading platform, and the products you can trade with.
Available countries | Pricing | Minimum deposit | Trading platforms | Available products | |
---|---|---|---|---|---|
Standard Account | All countries | Higher spread, no commission | $/€/£ 100 | MT4 | Forex, commodity / stock index CFD |
Cent Account | All countries | Higher spread, no commission | $/€/£ 10 | MT4 | Forex, commodity CFD |
Stock CFDs Account | EU countries, incl. UK | Higher spread, no commission | $/€/£ 100 | MT4 | Stock CFD |
ECN Account | All countries | Commission and lower spread | $/€/£ 500 | MT4/MT5 | Forex, commodity / stock index CFD |
ECN Zero Account | EU countries, incl. UK | Higher spread, no commission | $/€/£ 200 | MT4/MT5 | Forex, commodity / stock index CFD |
FXTM Pro Account | All countries | Lower spread, no commission | $/€/£ 25,000 | MT4/MT5 | Forex, commodity / stock index CFD Spot metals / real stock (only available for non-EU and non-UK clients) |
For each account, you have the possibility to convert it into a swap-free account. This is suitable for clients, who can’t receive interest due to their religion.
FXTM offers corporate accounts as well. If you want to open a corporate account, you have to send an email to FXTM.
In the review, we have tested the ECN and Stock CFDs MT4 accounts.
How to open your account
FXTM account opening is easy and fully digital. The online application takes roughly 25-30 minutes and our account was approved within one business day.
The 7 steps of FXTM account opening:
- Fill in your email address, name, and country of residence. You need to give your phone number as well, to which FXTM will send a PIN code
- Add more personal information, like date of birth and level of education
- Give your current address
- Answer some questions about your financial background and experience
- Fill out a questionnaire about your financial knowledge
- Select the account type you wish to open
- Verify your identity and residency by uploading a copy of your passport / ID / driver’s license and a bank statement or utility bill

FXTM review – Account opening
FXTM review
Deposit and withdrawal
3.7 To find out more about the deposit and withdrawalprocess, visit FXTM
FXTM offers a great variety of deposit and withdrawal options. Almost everything is available, including credit cards, bank transfer and electronic wallets. The main disadvantage is that FXTM charges a fee for most withdrawal types.
Pros | Cons |
---|---|
• Credit/Debit card available | • Most of the withdrawal options have a fee |
• No deposit fee | |
• Quick deposit and withdrawal – within 3 days |
Account base currencies
At FXTM, you can choose from 4 base currencies: EUR, GBP, USD, NGN. NGN is available only for Nigerian residents.
Compared to its competitors, this selection is almost the same as XTB’s but lags behind XM’s.
FXTM | XM | XTB | |
---|---|---|---|
Number of base currencies | 4 | 11 | 4 |
Why does this matter? For two reasons. First, if you fund your account in the same currency as your bank account, you are not charged a currency conversion fee. Second, if you trade assets in the same currency as your account base currency, you don’t have to pay a conversion fee.
A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. They usually offer bank accounts in several currencies with great currency exchange rates, as well as free or cheap international bank transfers. Opening an account only takes a few minutes on your phone.
Deposit fees and options
FXTM charges no deposit fees. Besides bank transfer, you can use a credit card and electronic wallets. This is the same as at the competitors.
FXTM | XM | XTB | |
---|---|---|---|
Bank transfer | Yes | Yes | Yes |
Credit/Debit card | Yes | Yes | Yes |
Electronic wallets | Yes | Yes | Yes |
The availability of deposit methods other than bank and credit cards is different based on whether the client is from the EU, the UK, or is non-EU.
Is this deposit method available? | EU countries | UK | Non-EU clients |
---|---|---|---|
Neteller, Skrill | Yes | Yes | Yes |
Bitcoin | Yes (through Skrill) | No | Yes |
Cryptos (BTC, ETH, LTC, DASH) | No | No | Yes |
Western Union Quick Pay | Yes | No | No |
Alfa-Click, Yandex.Money, QIWI | Yes | No | Yes |
VLOAD, WebMoney, Perfectmoney, Fasapay, TC Payment, GlobePay, Ngangluong, DixiPay, DusuPay, CashU, Konnexone | No | No | Yes |
Algerian / Afghani / African Local Solutions (D) / Bangladeshi / Egypt / Ghanan / Indian / Indonesian / Iraq / Kenyan / Laos / Latin American solutions / Malaysian / Nigerian / Pakistani / Palestinian / Tanzanian / South Arabian Peninsula / Sub-Saharan Africa and Dubai / Turkish Local Transfer | No | No | Yes |
Online Banking Malaysia / Indonesia / Vietnam / Thailand | No | No | Yes |
A bank transfer can take several business days, while payment with a credit/debit card is instant.
You can only deposit money from accounts that are in your name.

FXTM review – Deposit and withdrawal – Deposit
FXTM withdrawal fees and options
FXTM charges a withdrawal fee for most withdrawal options.
You can choose from bank transfer, credit card, and electronic wallets for withdrawal. You can use the same electronic wallets as for depositing, except Alfa-Click, Western Union Quick Pay, and Dotpay.
FXTM | XM | XTB | |
---|---|---|---|
Bank Transfer | Yes | Yes | Yes |
Credit/Debit card | Yes | Yes | No |
Electronic wallets | Yes | Yes | No |
The withdrawal fee varies based on your country of residence, the method you use, and the currency you make the withdrawal in.
Withdrawal method | EU countries | UK | Other countries |
---|---|---|---|
Credit cards | €2 / $3 / £2 | €2 / $3 / £2 | €2 / $3 / £2 |
Crypto (BTC, ETH, LTC, DASH) | NA | NA | 1% |
Bank wire transfer | €20 / £25 | €10 / £5 | €30 |
Deutsche Handelsbank transfer | €20 / $40 / £25 | NA | NA |
Neteller, Skrill | Free | Free | Free |
See more
How long does it take to withdraw money from FXTM? We tested the credit card withdrawal and it took one business day.
You can only withdraw money to accounts in your name.
How do you withdraw money from FXTM? You can do it by following these steps:
- Log in to MyFXTM.
- Go to ‘My Money’ and select ‘Withdraw Funds.’
- Select the withdrawal method.
- Add the amount you wish to withdraw and the reason for your withdrawal.
- Initiate the withdrawal.
- You’ll get a 4-digit code on your phone which you have to verify.
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FXTM review
Web trading platform
2.8 To try the web trading platform yourself, visit FXTM
The web trading platform of FXTM is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and the design is outdated.
Pros | Cons |
---|---|
• Clear fee report | • No two-step (safer) login |
• Good customizability (for charts, workspace) | • No price alerts |
• Order confirmation | • Poor design |
Trading platform | Score | Available |
---|---|---|
Web | 2.8stars | Yes |
Mobile | 3.8stars | Yes |
Desktop | 3.4stars | Yes |
FXTM doesn’t have its own self-developed trading platform, it uses third-party platforms: MetaTrader 4 and MetaTrader 5. These platforms are very similar to each other in functionality and design.
In this review we tested MetaTrader 4, as it is available for all account types and is more used by customers.
MetaTrader 4 is available in an exceptionally large number of languages.
Arabic | Bulgarian | Chinese | Croatian | Czech | Danish |
Dutch | English | Estonian | Finnish | French | German |
Greek | Hebrew | Hindi | Hungarian | Indonesian | Italian |
Japanese | Korean | Latvian | Lithuanian | Malay | Mongolian |
Persian | Polish | Portuguese | Romanian | Russian | Serbian |
Slovak | Slovenian | Spanish | Swedish | Tajik | Thai |
Traditional Chinese | Turkish | Ukrainian | Uzbek | Vietnamese |
Look and feel
The FXTM web trading platform has great customizability. You can easily change the size and the position of the tabs.
However, the platform feels outdated and some features are hard to find. For example, it took some time until we found how to add an asset to the watchlist.

FXTM review – Web trading platform
Login and security
FXTM provides only a one-step login. A two-step authentication would be more secure.
You can’t use a biometric login. Providing this feature would be more convenient.
Search functions
The search functions are OK. You can find the assets in categories. However, we missed the usual search function where you can type in the asset’s name manually.

FXTM review – Web trading platform – Search
Placing orders
You can use the basic order types. You will not find very sophisticated orders like the ‘one cancels the other’ order.
The following order types are available:
- Market
- Limit
- Stop
- Trailing Stop
Trailing Stop is available only on the MT4 desktop platform.
There are also order time limits you can use:
- Good ’til canceled (GTC)
- Good ’til time (GTT)

FXTM review – Web trading platform – Order panel
Alerts and notifications
You can’t set alerts and notifications on the FXTM web trading platform. This feature is available only on the desktop trading platform.
Portfolio and fee reports
FXTM has clear portfolio and fee reports. You can easily see your profit-loss balance and the commissions you paid. These reports can be found under the ‘History’ tab. We didn’t find a way to download them.
FXTM review
Mobile trading platform
3.8 To try the mobile trading platform yourself, visit FXTM
FXTM has a great mobile trading platform, offered by MetaTrader 4. It is well-designed and user-friendly. However, it lacks a safe login.
Pros | Cons |
---|---|
• User-friendly | • No two-step (safer) login |
• Good search function | • No Touch/Face ID login |
• Price alerts | • No order confirmation |
FXTM offers MetaTrader 4 and MetaTrader 5 mobile trading platforms. Similarly to the web trading platform, we tested the MetaTrader 4 mobile trading platform.
MetaTrader 4 is available for both iOS and Android. We tested it on Android.
After you download the MT4 mobile trading platform, you have to access the FXTM server, e.g. ForexTime-ECN.
Just like at the web trading platform, you can choose from a lot of languages on the mobile trading platform, too. Changing the language is a bit tricky on Android devices. You can do it only if you change the default language of your mobile.
Arabic | Chinese (Simplified) | Chinese(Traditional) | Czech | English |
French | German | Greem | Hindi | Indonesian |
Italian | Japanese | Korean | Polish | Portuguese |
Portuguese (Brazil) | Russian | Spanish | Thai | Turkish |
Ukrainian | Vietnamese |
Look and feel
FXTM has a great mobile trading platform, we really liked its design and user-friendliness. You will easily find all the features.

FXTM review – Mobile trading platform
Login and security
Similarly to the web trading platform, FXTM provides only a one-step login. A two-step login would be safer.
You can’t use fingerprint or Face ID authentication. Providing this feature would be more convenient.
Search functions
The search functions are good. You can search by typing the name of the product or by navigating the category folders.

FXTM review – Mobile trading platform – Search
Placing orders
You can use the same order types and order time limits as the ones on the web trading platform.

FXTM review – Mobile trading platform – Order panel
Alerts and notifications
You can set alerts and notifications, although you can do it only on the desktop trading platform. It would be much easier if you could set these notifications on the mobile trading platform.
FXTM review
Desktop trading platform
3.4 To try the desktop trading platform yourself, visit FXTM
In design and functionality, FXTM’s MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts on the desktop trading platform.
Pros | Cons |
---|---|
• Clear fee report | • No two-step (safer) login |
• Good customizability (for charts, workspace) | • Poor design |
• Price alerts |
You can use MetaTrader 4 and 5 desktop trading platforms. We tested the MetaTrader 4 desktop trading platform.
It has the same design, is available in the same languages, offers the same order types plus Trailing Stop, has the same search functions, and offers the same portfolio and fee reports as the web trading platform.
The major difference is that you can set alerts and notifications in the form of mobile push and email notifications on the desktop trading platform. To set email or mobile notifications, you have to add your email address and mobile MetaQuotes ID (you can find it in the MT4 app’s settings). You can add them, if you go to ‘Tools’ and then ‘Options.’

FXTM review – Desktop trading platform
FXTM review
Markets and products
2.4 To dig even deeper in markets and products, visit FXTM
FXTM’s product selection covers forex CFDs and cryptos. Non-EU clients can also trade with real stocks. On the negative side, it lacks ETFs, mutual funds, bonds, options, and futures.
FXTM’s forex product selection lags behind some of its competitors. This holds for the stock index and commodity CFD product offering as well, while the number of stock CFDs is low compared to competitors. ETF CFDs and bond CFDs are not available, but you can trade with cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Ripple. To learn more about CFDs read our CFD trading tips.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXTM | XM | XTB | |
---|---|---|---|
Currency pairs (#) | 48 | 57 | 49 |
Stock index CFDs (#) | 11 | 28 | 42 |
Stock CFDs (#) | 200 | 1,240 | 1,800 |
Commodity CFDs (#) | 3 | 15 | 22 |
Cryptos (#) | 4 | – | 25 |
FCA bans the sale of crypto-derivatives to UK retail consumers from 6 January 2021.
EU and non-EU clients can lower the default leverage level of the products. On the other hand, only a couple of options are available (for example 1:30, 1:25). The maximum leverage size varies based on the product and the volume of your trade, as well as the account type you choose.
Please note that different entities offer different instruments to trade with. What is available to you, depends entirely on your country of residence.
Real stocks
FXTM offers commission-free real stocks for non-EU clients. The real stock selection lags behind that of XTB, while similar to XM’s.
FXTM | XM | XTB | |
---|---|---|---|
Stock markets (#) | 2 | 3 | 17 |
The available stock markets are NYSE and NASDAQ.
Social trading
All clients, except for UK clients, can use FXTM Invest, a social trading service.
You can decide if you want to be an Investor or a Strategy Manager. Investors can copy Strategy Managers’ trades. When you select a Strategy Manager, you have the option to filter them based on risk level, success fee, all-time profit, etc. Strategy Managers can receive a commission on every winning trade.

FXTM review – FXTM Invest
FXTM review
Research
3.8 To check the available research tools and assets, visit FXTM
From news flow to technical analysis-based trading ideas, FXTM offers a lot of research tools. On the negative side, fundamental data is not available.
Pros | Cons |
---|---|
• Quality news flow | • No fundamental data available |
• User-friendly | |
• Technical analysis-based trading ideas |
FXTM’s research tools are available in several locations:
- MetaTrader trading platforms
- The ‘Market Analysis’ section on the website
- ‘Trading Services’ section in MyFXTM
Trading ideas
FXTM provides trading ideas based on technical tools. You can find them in MyFXTM, under ‘Trading Services,’ and within that the ‘FXTM Trading Signals’ section.

FXTM review – Research – Recommendations
Fundamental data
FXTM does not offer fundamental data.
Charting
FXTM has average charting tools. These charting tools can be found in the MetaTrader trading platforms.
You can use 37 technical indicators and editor tools, such as trendlines or Fibonacci retracement.
On the other hand, the design is outdated and some features are hard to use. For example, we had difficulty in finding how we could remove an indicator from the chart.

FXTM review – Research – Charting
News feed

FXTM review – Research – News
On the website, in the ‘Market Analysis’ section, you can find market updates and various research tools, e. g. a Forex News Timeline, as well as market analysis videos published by FXTM.
You can also use a great economic calendar. We like the calendar’s filter function, where you can filter for countries, data types and volatility.
Other research tools you will enjoy
In MyFXTM, you can also use some more technical research tools. There is a tool called FXTM Pivot Points Strategy that helps you to analyze price direction and market sentiment.
FXTM review
Customer service
4.5 To find customer servicecontact information details, visit FXTM
FXTM has great customer support. You can contact them in a lot of ways and they give fast and relevant answers. However, customer service is available only on weekdays.
Pros | Cons |
---|---|
• Phone support | • No 24/7 support |
• Live chat | |
• Fast response time |
You can contact FXTM via:
- live chat
- phone
It is great that FXTM supports multiple languages: Arabic, Czech, Chinese, English, Farsi, French, Hindi, Indonesian, Italian, Korean, Malaysian, Polish, Russian, Spanish, Urdu and Vietnamese.
FXTM has a good live chat. We got clear answers even for more difficult questions, like how financing costs are calculated. Besides live chat, you can also chat with FXTM through WhatsApp, Viber, Telegram and Facebook Messenger.
FXTM phone support works well. An agent was connected within a few seconds and we got helpful and professional answers.
Via email, we got answers within a few hours and they were also relevant.
The only thing we missed is 24/7 availability.

FXTM review – Customer Service
FXTM review
Education
5.0 To check the available education material and assets, visit FXTM
Having a demo account is always a great way to learn. Beyond that, FXTM offers several ways to educate yourself, all packed with quality materials.
Pros | Cons |
---|---|
• Demo account | None |
• Trading platform tutorial | |
• Educational videos |
At FXTM you can learn in the following ways:
- Demo account
- Platform tutorial videos
- General educational videos
- Webinars
- Quality educational articles
- Glossary
It is positive that FXTM offers seminars in some countries that clients can attend. This is not common among brokers.
The quality of educational texts and videos are superb as well.
FXTM review – Education
FXTM review
Safety
FXTM is regulated by several financial authorities, including the top-tier FCA. It is a well-established brand but is not listed on any exchange, does not disclose financial information and does not have a bank parent.
Pros | Cons |
---|---|
• Negative balance protection | • Does not hold a banking license |
• Regulated by top-tier FCA | • Not listed on stock exchange |
• Financial information is not publicly available |
Is FXTM regulated? Yes, it is regulated by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Commission of Mauritius (FSCA). The CySEC-regulated entity is also licensed by Financial Sector Conduct Authority (FSCA) of South Africa.
FXTM is based in Cyprus and was founded in 2011. Is FXTM safe? To be certain, we highly advise you to check two things: how you are protected if something goes wrong and what the background of the broker is.
How you are protected
Protection matters for you because the investor protection amount and the regulator differ from entity to entity.
Country of clients | Protection amount | Regulator | Legal entity |
---|---|---|---|
EU countries (except UK) | €20,000 | Cyprus Securities and Exchange Commission (CySEC), and licensed by the Financial Sector Conduct Authority (FSCA) of South Africa | ForexTime Limited |
United Kingdom | £85,000 | Financial Conduct Authority (FCA) | ForexTime UK Ltd. |
International clients | No protection | Financial Services Commission of Mauritius | Exinity Ltd. |
FXTM provides negative balance protection for forex spot and CFD trading, but only for retail clients from the European Union. Professional and non-EU clients are not covered with any negative balance protection.
Background
FXTM was established in 2011. The longer track record a broker has, the more proof we have that it has successfully survived previous financial crises.
FXTM review
Bottom line
Visit FXTM if you are looking for further details and information
FXTM is regulated by several financial authorities globally, including the top-tier Financial Conduct Authority (FCA).
On the plus side, customer support gives fast and relevant answers. There are several educational tools, including demo accounts and webinars. The account opening is fully digital and fast.
FXTM has some drawbacks though: it charges high CFD fees, inactivity, and withdrawal fees, and the product range is limited.
As account opening only takes a short time, and customer support is helpful and reliable, feel free to try FXTM.