FXTM Review 2023


4 / 5
FXTM is #25 in our CFD broker rankings.

FXTM is a good pick for forex traders seeking low fees, excellent market research and access to the familiar MetaTrader 4 platform.

- Daytrading Review Team

FXTM is a top-rated forex and CFD broker. The company is secure and regulated by leading authorities, including the FCA and CySEC. Offering 1000+ markets and three account types, they cater to all levels of trader.


Trusted

Demo Account

Copy Trading

Beginner Friendly
$10
Web Platform, Mobile Platform, MT4, MT5, AutoChartist
Forex, CFDs, Indices, Commodities, Stocks
30% up to $100 via Exinity Ltd
USD, EUR, GBP
Neteller, Credit Card, Skrill, Visa, WebMoney
and 6 more
Forex Trading

FXTM offers 60+ forex pairs plus 6 indices which track a basket of popular currencies. The brand's ECN accounts offers impressive spreads from 0 with low commissions from $0.40 to $2 per lot and commission-free spreads start from 1.5 pips.

Stock Trading

FXTM's stocks list is average, with 300+ US and European stocks which are traded via CFDs. This means traders can speculate on the price movements of different stocks but cannot buy and own them through this broker.

CFD Trading

FXTM's CFD list includes forex, stocks, commodities and indices. The global entity also offers crypto CFDs. Leverage depends on jurisdiction, with rates up to 1:30 from its CySEC-regulated branch and a massive 1:2000 from its global entities.

Copy Trading

FXTM Invest is a popular copy trading app connecting clients to established investors with successful portfolios. Learn from traders with proven strategies in forex, stocks and more.

Awards

  • Best Trading Experience 2021 - World Finance Awards
  • Best Online Leveraged Trading Services 2021 - Global Business Awards
  • Best Forex Education Partner Nigeria 2021 - World Business Outlook
  • Best Trading Experience 2020 - World Finance Awards
  • Best ECN Broker 2020 - DayTrading.com

✓ Pros

  • Free educational materials and market insights
  • Customer support in 30+ languages
  • Negative balance protection
  • Regulated by FCA & CySEC
  • Multiple industry awards
  • 1000+ financial assets
  • Transparent pricing
  • Beginner-friendly
  • Copy trading
  • Forex VPS

✗ Cons

  • No ETFs or bonds
  • Selection of stocks is not extensive
  • Mediocre spreads on commission-free accounts
  • Limited e-wallet payment options
  • Withdrawal fees

FXTM is a leading forex and CFD broker. This ForexTime review examines their services, including account types, copy trading app, demo profile, plus the MT4 platform. We also list any current bonus offers and key comparison data, such as minimum deposit and minimum trade amounts. Find out if you should sign up and login to FXTM today.

Assets & Markets

FXTM offers 1000+ instruments spanning most global markets:

On the downside, the broker doesn’t offer cryptocurrencies, ETFs and bonds. Asset access may also vary based on the subsidiary you are trading with.

Spreads & Fees

FXTM trading fees vary depending on account type and instrument.

Commission fees are relatively low and competitive vs the industry average for CFD trading. Ultimately, there is a pricing structure that will suit all trading styles.

Note, spreads are floating therefore may increase during times of high volatility.

FXTM also applies a $5 per month inactivity charge after six months of account dormancy. In addition, swap fees apply for trades held overnight.

Leverage Review

When we used FXTM, leverage rates varied by entity and instrument. Investors trading within the EU will be subject to ESMA margin capping restrictions. This means maximum leverage opportunities of 1:30 for forex pairs, such as EUR/USD, and 1:20 on minor pairs, including USD/CAD and EUR/AUD.

The maximum leverage available for global traders is 1:2000. This is significantly higher than most competitors, and although trading with leverage can increase profit prospects, it can also magnify losses. Ensure you have appropriate risk management strategies in place.

Note that leverage is not automatically agreed. FXTM may offer a reduced leverage ratio based on individual experience, previous trading record, degree of customer loyalty and various other factors.

FXTM Account Types

FXTM offer three account types available to day traders. All profiles offer access to fast execution speeds, a minimum order level of 0.01 lots and flexible leverage. Profiles can be tailored to suit individual requirements.

Micro

The most accessible account

Advantage

The most popular account

Advantage Plus

For experienced investors

A halal swap-free, Islamic profile type is also available. In addition, a professional account is open to those that meet eligibility requirements.

How To Sign Up For An FXTM Account

It is quick and easy to open a new account with FXTM.

Complete the online application form. ForexTime login details will be sent to the registered email address.

KYC and AML compliance is adhered to so you must upload identification documents plus a proof of address.

Payment Methods

Deposits

When trading with FXTM, you can deposit in USD, EUR and GBP, though global entities also accept PLN, CZK and NGN. The broker charges no deposit fees, but third-party charges may apply. Exchange rates may also apply if you are depositing in a currency other than your base currency.

Minimum deposit requirements vary by account type, the lowest being $50.

Global payment methods are detailed below:

Several other deposit methods are also accepted, including Global Pay, Perfect Money and more. Simply select your chosen finance method via the deposit section in your profile interface.

Note, account verification must be completed to process payments.

Withdrawals

FXTM withdrawals can be made via the same payment methods as deposits. All transfers are processed during standard business hours, Monday to Friday, although the time to receive funds back to the original account will vary.

Our FXTM review was disappointed to find that commissions apply for some payment methods:

If you request to withdraw your funds following no trading activity, FXTM reserves the right to charge a 3% fee of the total withdrawal amount. This is a notable downside vs alternatives.

FXTM Platforms

FXTM offers an award-winning trading platform – MetaTrader 4 (MT4). It can be used as a web-based profile or downloaded to desktop devices (Windows and Mac compatible).

For many retail clients worldwide, this is the go-to platforms for trading, with an excellent reputation. And after the platform, we are confident it is suitable for new and experienced investors.

Key features include:

MetaTrader 4

FXTM MT4 Review
MetaTrader 4

Making A Trade

  1. Register for a new account with FXTM using their online application form
  2. Once your account has been verified, make an initial deposit ($50 minimum)
  3. Open the MT4 webtrader, or download the software to a desktop device
  4. Search for an asset using the in-built navigation bar or search through watchlists
  5. Select the open order icon
  6. Add your trade parameters including execution mode, investment value, and risk management parameters such as stop-loss or take-profit
  7. Review the details of your order
  8. Select sell or buy and confirm the trade

Mobile Apps

FXTM investors should feel confident that trading opportunities are not halted while on the move. MetaTrader 4 offer a mobile-compatible app, available for free download to iOS and Android (APK) devices.

Users can manage accounts, open and close positions, check live global pricing and view charts while on the go. All the tools, features and functionality found on PC devices can be used within a sleek, intuitive yet portable design.

Additionally, the broker has introduced FXTM Trader – an investment app designed to modernize the trading experience. Similar to MT4, this proprietary app is offered in both iOS and Android formats.

When we used the bespoke FXTM app, we were impressed with its smooth design with small-screen compatibility including zoom and scroll features. Functions include:

Regulation & Licensing

The FXTM brand is regulated and authorized by several global financial bodies:

Traders under all global entities benefit from negative balance protection and segregated client funds. It is also worth noting that CySEC and FCA are highly regarded authorities, meaning FXTM has to demonstrate a high level of financial accountability and fair, transparent and honest trading.

Additionally, FXTM (ForexTime Limited) is a member of the Investor Compensation Scheme (ICF), whereby eligible retail clients are protected in the case of business insolvency.

FXTM Demo Account

FXTM offers a high-grade demo account that enables individuals to hone their trading skills before investing their hard-earned cash.

Forex is traditionally seen as a risky form of trading, so making sure that you have the correct skills before beginning to “trade for real” is important.

Our experts found you can access unlimited virtual funds with flexible leverage in a simulated environment. A simple online registration form is required.

Demo accounts are also available on all account types and trading platforms.

Deals & Promotions

Occasional bonuses and promotions are available, though these are limited to the global subsidiaries only due to ESMA restrictions on financial incentives introduced in 2018.

Promotions include, among others, a 30% welcome bonus and access to the FXTM loyalty program with fee discounts and other perks for active investors.

Remember to check the terms and conditions of promotions and contests before getting started – challenging minimum thresholds and requirements may be set.

Additional Features

Education

One of the areas in which FXTM stands out is the wealth of educational material that is available. Resources include webinars, tutorials, articles and a glossary of key terms. Content includes:

While using FXTM’s educational materials, we were pleased with the clarity and ease by which you can follow the content. The variety of formats also means that there is something suitable for everyone.

In addition, the customer support team is available to answer trading queries, provide platform help and give extra guidance.

Tools

FXTM also offers free trading tools. We were offered a free pip calculator and profit/margin calculator when we traded with FTXM, alongside expert market analysis.

Additionally, clients can make use of MT4 forex trading indicators such as the pivot point indicator, spread indicator and the real-time day bar info indicator. 

Using the Pivot Point calculator at FXTM

Copy Trading

Global FXTM clients can access the broker’s bespoke copy trading app; FXTM Invest. This is a modern yet user-friendly copy-trading program.

Auto copy trading is an effective method to diversify a portfolio, without the need for extensive market knowledge. Clients can follow and copy experienced Strategy Managers, analyzing pro investors via their performance statistics and attitude to risk before selecting.

When we tested the FXTM Invest platform, our experts were able to retain full control funds, with fees only applicable when a profitable trade was made.

Market Analysis

Once registered with the FXTM Group, customers can benefit from daily market analysis. The broker utilizes in-depth fundamental and technical analysis to highlight potential market opportunities from Canada, Indonesia, India, Malaysia, Nigeria and beyond. You can view this information via several sources including podcasts, illustrated economic calendars, Twitter posts and videos.

The daily commentaries are from the FXTM team of experts. Our review was particularly impressed with the content, and FXTM is frequently quoted on trading sites and in the media, recognized for providing high-caliber insights as partners.

Forex VPS

FXTM also offers a VPS. Suitable for active day traders, clients can trade 250+ instruments 24/5. This includes 60+ forex pairs, shares, indices, and commodities.

The virtual private sever ensures Expert Advisors, for example, will run without technical disruption. The solution also provides optimal connectivity with minimal order delays.

Customer Support

Our experts tested the customer support options offered by FXTM. We were able to contact the broker via phone, email, post or online chat (WhatsApp; live chat; Viber; Telegram; or Messenger). Additionally, a callback can be requested.

Response times were quick, with an initial response to a live chat query made via the website followed up within two minutes.

Customer service teams are also available in 30+ languages.

Safety & Security

When trading at FXTM, traders should be assured of the suite of IT security measures and customer protections. The website uses encryption software to ensure users’ privacy and security. FXTM traders are well-protected against theft of funds or data, though always be cautious when it comes to sharing personal information on the internet.

Additional security settings, such as two-factor authentication (2FA) and one-time passwords (OTPs), can be added to FXTM platforms.

Company Details

ForexTime, also known as FXTM, was established in 2011. The mission of the broker is to bring all financial market opportunities in to the hands of retail investors, wherever they are in the world. Today, the brand has done just that, and FXTM is now a global leader in the online trading environment.

It offers investing services across 180 countries, with a worldwide office presence spanning Asia, Europe, and Africa, with an impressive 4+ million registered clients.

The FXTM brand is authorized and regulated across several entities including; ForexTime Ltd, Exinity UK Limited and Exinity Limited.

The brokerage has been recognized with 25+ industry awards since it launched over a decade ago.

Trading Hours

The FXTM website is open 24/7/365. That said, not all markets are open all the time. This means that trading is limited to those hours when the markets under consideration are open.

For example, the forex market in London is active from 3 AM to 12 noon; in New York it’s 9 AM to 5 PM; in Sydney it’s 5 PM to 2 AM, and the Tokyo market is open from 7 PM to 4 AM (all times GMT).

FXTM Verdict

An established trading platform and broker, FXTM offers several advantages over competitors. Crucially, the broker has regulatory oversight across all jurisdictions where it operates. This should provide customers with plenty of protection and demonstrates that the company is run in a transparent and accountable manner.

The website places a heavy emphasis on education and customer care – this is a brand that takes its responsibilities to its customers seriously. FXTM has a good range of trading platforms and accounts, so no matter what type of trader you are, there is a package that is suitable for your needs. Also fees are, on average, in the low to medium range vs alternatives.

FAQs

Is FXTM Regulated?

FXTM is regulated by various global financial bodies across all countries of operation. Authorities overseeing the group include the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC), and the Financial Sector Conduct Authority (FSCA) of South Africa. Our experts are confident that the broker offers adequate protection regardless of your country of residency. 

What Trading Instruments Does FXTM Offer?

Day traders can invest in 1000+ instruments including forex, commodities, indices, and stocks. Currency indices are also available.

What Trading Platforms Does FXTM Offer?

FXTM offers retail clients the MetaTrader 4 platform. It can be used via all major web browsers, dowloaded to desktop or used on mobile devices. Alternatively, the broker has two proprietary platforms; FXTM Invest, a copy trading app, and FXTM Trader, an all-in-one investment app.

Is FXTM Good For Day Trading?

FXTM is a good pick for active day traders with fast order executions, ECN accounts, tight spreads, and a VPS to run automated strategies. Clients can also day trade on the popular MT4 platform and mobile apps.

What Is The Minimum Deposit For An FXTM Trading Account?

FXTM minimum deposit requirements vary by account type. The lowest is $10 or equivalent currency. This makes it a good option for beginners.

Does FXTM Offer A Demo Account?

Yes, FXTM offers a demo trading account, a standard feature now offered by established brokers. Users can access unlimited virtual funds with flexible leverage in a simulated environment.

Is FTXM Legit Or A Scam?

FXTM, also known as ForexTime, is a legitimate brokerage with multiple industry awards and accolades. The firm is also regulated by tier-one financial bodies, including the FCA in the UK. Our team are comfortable that the company is not running scams.

Accepted Countries

FXTM accepts traders from Australia, Thailand, United Kingdom, South Africa, Singapore, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use FXTM from United States, Canada, Japan, Mauritius, Puerto Rico, Haiti, Suriname, Hong Kong.

Payment Methods

FXTM Details

Minimum Trade 0.01 Lots
Regulated By CySEC (Cyprus), FCA (UK), FSCA (South Africa), FSC (Mauritius)
Account Types
  • STP
  • ECN
  • MAM
  • PAMM
Islamic Account Yes
Mobile Apps iOS, Android & Windows
Margin Trading Yes
Volatility Index No
Spot Trading Yes
Perpetual Swaps No
ELWs No
REITs No
AI / Machine Learning No
Robo Advisor No
P2P Trading No
Negative Balance Protection Yes
VPS Hosting Yes
Tournaments No
Demo Competitions No
Managed Accounts No
Market Maker Yes
Auto Trading FXTM Invest plus Expert Advisors (EAs) on MetaTrader
Social Trading Yes
Trade Signals Yes
Inactivity Fee USD/EUR/GBP 5 per month
Guaranteed Stop Loss No
Stock Exchanges
  • Australian Securities Exchange
  • CAC 40 Index France
  • DAX GER 40 Index
  • Deutsche Boerse
  • Dow Jones
  • Euronext
  • FTSE UK Index
  • Hang Seng
  • IBEX 35
  • Japan Exchange Group
  • Nasdaq
  • National Stock Exchange Of India
  • S&P 500
Commodities
  • Gold
  • Natural Gas
  • Oil
  • Precious Metals
  • Silver

CFD Trading Details

FTSE Spread 1.3 pts
GBPUSD Spread 0.3 (var)
Oil Spread 9 pts (var)
Stocks Spread 0.1% Var
Leverage 1:30 (EU), 1:2000 (Global)

Forex Trading Details

GBPUSD Spread 0.3 (var)
EURUSD Spread 0.1 (var)
EURGBP Spread 0.2 (var)
Assets 50+
Currency Indices
  • USD
  • EUR
  • GBP
  • JPY
  • AUD
  • NZD

Top 3 Alternatives to FXTM

Compare FXTM with the top 3 similar brokers that accept traders from your location.

  1. IG Group – IG is an award-winning broker that has an excellent reputation globally. The brand-US offers spread betting, CFD and forex trading across a comprehensive suite of markets. IG is also multi-regulated, provides a great trading app and has 50 years experience.
    Go to IG Group
  2. Just2Trade – Just2Trade is a reliable multi-regulated broker registered with FINRA, NFA and CySEC. The company has 155,000 clients from 130 countries and stands out for its huge suite of instruments and additional features, including a social network, robo advisors and a funded trader programme.
    Go to Just2Trade
  3. Forex.com – Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they provide a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
    Go to Forex.com

FXTM Comparison Table

Compare FXTM With Similar Brokers
FXTM IG Group Just2Trade Forex.com
Rating 4 4.4 3.5 4.5
Markets Forex, CFDs, Indices, Commodities, Stocks CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, ADRs, ETFs, Futures, Options, Commodities, Bonds Forex, Spot Metals
Demo Account Yes Yes Yes Yes
Minimum Deposit $10 $0 $100 $100
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Regulators CySEC (Cyprus), FCA (UK), FSCA (South Africa), FSC (Mauritius) FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA CySEC, NFA, FINRA, Bank of Russia NFA, CFTC
Bonus 30% up to $100 via Exinity Ltd Up to $2,000 for professional accounts Active Trader Program With A 15% Reduction In Costs
Education Yes Yes No Yes
Platforms Web Platform, Mobile Platform, MT4, MT5, AutoChartist MT4, AutoChartist, TradingCentral MT4, MT5, TradingCentral MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Leverage 1:30 (EU), 1:2000 (Global) 1:30 (Retail), 1:250 (Pro) 1:20 1:50
Payment Methods 11 6 20 8
Visit Visit Visit Visit
Review IG Group
Review
Just2Trade
Review
Forex.com
Review

Compare Trading Instruments

Compare the markets and instruments offered by FXTM and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare FXTM Trading Instruments
FXTM IG Group Just2Trade Forex.com
CFD Yes Yes Yes No
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes Yes Yes
Copper No Yes No No
Silver Yes Yes Yes Yes
Corn No No No No
Crypto No Yes Yes No
Futures No Yes Yes No
Options No Yes Yes Yes
ETFs No Yes Yes No
Bonds No Yes Yes No
Warrants No Yes No No
Spreadbetting No Yes No No
Volatility Index No Yes No No

FXTM vs Other Brokers

Compare FXTM with any other broker by selecting the other broker below.

 

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FXTM is a top-rated forex and CFD broker. The company is secure and regulated by leading authorities, including the FCA and CySEC. Offering 1000+ markets and three account types, they cater to all levels of trader.

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