FXTM Review 2024


4 / 5
FXTM is #62 in our CFD broker rankings.

FXTM is a good pick for day traders seeking low forex commissions on the MetaTrader 4 platform. That said, the range of other assets is not extensive for those looking to diversify, especially stocks and cryptocurrencies.

- Daytrading Review Team

FXTM is a top-rated forex and CFD broker established in 2011 and operating across 4 continents. The company is secure and regulated by leading authorities, including the FCA and CySEC. Offering 1000+ day trading markets and three account types, they cater to all levels of trader.

FXTM App, MT4, MT5
Forex, CFDs, Indices, Commodities, Stocks
30% up to $100 via Exinity Ltd
USD, EUR, GBP
Neteller, Skrill, Visa, WebMoney, Perfect Money, Western Union, Credit Card, Google Wallet, PayRedeem, Maestro, GlobePay

Trading App

FXTM deliver a great mobile trading experience. Fast, secure and easy-to-use, the app supports both MetaTrader 4 and 5 and delivers real time quotes, all trading execution types and full account maintenance. The charting facilities are also among the best of any mobile app. Download it today.

iOS App Rating
Android App Rating

Forex Trading

FXTM offers a strong range of 60+ currency pairs - more than many competitors including AvaTrade. There’s also 6 currency indices for day traders looking to diversify their forex portfolios. The brand’s ECN account offers competitively low spreads from 0 pips, with equally low commissions up to $2 per lot.

Stock Trading

The broker’s stocks list is average, with 300+ US and European stock CFDs available. Spreads are as low as 0.1 pips in the Advantage account. You can also make use of a wide range of market analysis resources which have been curated by the broker’s expert team.

CFD Trading

FXTM’s CFD offering spans 250+ forex, stocks, commodities and indices, plus crypto CFDs at the global entity. Leverage up to 1:30 is available from the CySEC-regulated branch, though highly seasoned traders can also access massive 1:2000 rates from the global entity.

Crypto Trading

Cryptocurrency CFDs are available on 11 popular digital coins for those using the international entity. Bitcoin is available, alongside popular altcoins like Avalanch and Dogecoin. Spreads are floating and minimum lot sizes from 0.01 are available.

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

  • The broker delivers an excellent charting environment for day traders, with over 30 technical tools offered in the MT4 platform, plus a range of additional platform indicators for monitoring spreads, orders, pivot levels and more
  • Beginners can access a strong range of free educational materials and short-term market insights, including a podcast hosted by the brand’s expert team
  • FXTM offers free VPS hosting for active day traders looking for 24/7 uninterrupted connection with up to 99.9% uptime
  • The broker has a good reputation with multiple industry awards and oversight from top-tier regulators like the CySEC
  • Customer support is reliable and available in 30+ languages, making FXTM a top choice among global traders
  • Negative Balance Protection is available to clients registering with the EU and UK entities

✗ Cons

  • It’s a shame that ETFs and bond products are not available, and the selection of stocks is not extensive compared to competitors like AvaTrade
  • Spreads are mediocre in the commission-free accounts, with typical EUR/USD spreads around 1.9 pips - the industry average is around 1.2 pips
  • Withdrawal fees apply, including a 30 EUR fee on bank wire withdrawals
  • There are limited e-wallet payment options compared to alternatives

FXTM is a leading forex and CFD broker. This ForexTime review examines their services, including account types, 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

3.8 / 5

FXTM offers 1000+ instruments spanning most global markets:

On the downside, the broker doesn’t offer 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.

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

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

3.8 / 5

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 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 and by region. Requirements range from $200 to $500.

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.

Top 3 Alternatives to FXTM

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

  1. Pepperstone – Established in Australia in 2010, Pepperstone is a top-rated forex and CFD broker with over 400,000 clients worldwide. It offers access to 1,300+ instruments on leading platforms MT4, MT5, cTrader and TradingView, maintaining low, transparent fees. Pepperstone is also regulated by trusted authorities like the FCA, ASIC, and CySEC, ensuring a secure environment for day traders at all levels.
    Go to Pepperstone
  2. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
    Go to IG
  3. AvaTrade – AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, from CFDs to AvaOptions and now AvaFutures, alongside a comprehensive education center and multilingual customer support.
    Go to AvaTrade

FXTM Comparison Table

Compare FXTM With Similar Brokers
FXTM Pepperstone IG AvaTrade
Rating 4 4.8 4.4 4.9
Markets Forex, CFDs, Indices, Commodities, Stocks CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto, Spread Betting CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting CFDs, Forex, Stocks, Indices, Commodities, ETFs, Bonds, Crypto, Spread Betting, Futures
Demo Account Yes Yes Yes Yes
Minimum Deposit $0 $0
Minimum Trade 0.01 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Regulators CySEC, FCA, FSCA, FSC FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM
Bonus 30% up to $100 via Exinity Ltd
Education Yes Yes Yes Yes
Platforms FXTM App, MT4, MT5 MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral WebTrader, AvaTradeGO, AvaOptions, AvaFutures, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
Leverage 1:30 (Retail), 1:500 (Pro) 1:30 (Retail), 1:250 (Pro) 1:30 (Retail) 1:400 (Pro)
Payment Methods 11 11 6 13
Visit Visit Visit Visit Visit
Review Pepperstone
Review
IG
Review
AvaTrade
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 Pepperstone IG AvaTrade
CFD Yes Yes Yes Yes
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 Yes Yes
Silver Yes Yes Yes Yes
Corn No Yes No Yes
Crypto Yes Yes Yes Yes
Futures No No Yes Yes
Options No No Yes Yes
ETFs No Yes Yes Yes
Bonds No No Yes Yes
Warrants No No Yes No
Spreadbetting No Yes Yes Yes
Volatility Index No Yes Yes Yes

FXTM vs Other Brokers

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

 

The most popular FXTM comparisons:

  1. OctaFX vs FXTM
  2. Alpari vs FXTM
  3. RoboForex vs FXTM
  4. FXTM vs Deriv.com
  5. FXTM vs Fusion Markets
  6. Pepperstone vs FXTM
  7. JustMarkets vs FXTM
  8. FXTM vs Exness
  9. FXTM vs Binomo

Customer Reviews

There are no customer reviews of FXTM yet, will you be the first to help fellow traders decide if they should trade with FXTM or not?

Submit Your Own Review of FXTM

If you have experience trading with FXTM please share your personal review of the broker and what you think are strong and weak points. Thank you.

Visit
FXTM is a top-rated forex and CFD broker established in 2011 and operating across 4 continents. The company is secure and regulated by leading authorities, including the FCA and CySEC. Offering 1000+ day trading markets and three account types, they cater to all levels of trader.

Article Sources

The writing and editorial team at DayTrading.com use credible sources to support their work. These include government agencies, white papers, research institutes, and engagement with industry professionals. Content is written free from bias and is fact-checked where appropriate. Learn more about why you can trust DayTrading.com