FXTM Review 2024

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Written By
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Written By
Tobias Robinson
Tobias is a partner at DayTrading.com, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.
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Fact Checked By
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Fact Checked By
William Berg
William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.

4 / 5
FXTM is #65 in our CFD broker rankings.
FXTM App, MT4, MT5
Forex, CFDs, Indices, Commodities, Stocks
Neteller, Skrill, Visa, WebMoney, Perfect Money, Western Union, Credit Card, Google Wallet, PayRedeem, Maestro, GlobePay


  • 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


  • 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
  • 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
  • FXTM offers free VPS hosting for active day traders looking for 24/7 uninterrupted connection with up to 99.9% uptime


  • 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

FXTM Review

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.


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


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.


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


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.


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.


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. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US 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.

  2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

  3. FOREX.com – Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.

FXTM Comparison Table

Compare FXTM With Similar Brokers
FXTM IG Interactive Brokers FOREX.com
Rating 4 4.4 4.3 4.5
Markets Forex, CFDs, Indices, Commodities, Stocks CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies Forex, Stocks, Futures, Futures Options
Demo Account Yes Yes Yes Yes
Minimum Deposit $200 $0 $0 $100
Minimum Trade 0.01 Lots 0.01 Lots $100 0.01 Lots
Bonus 30% up to $100 via Exinity Ltd Active Trader Program With A 15% Reduction In Costs
Education Yes Yes Yes Yes
Platforms FXTM App, MT4, MT5 Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Leverage 1:2000 1:30 (Retail), 1:250 (Pro) 1:50 1:50
Payment Methods 11 6 6 8
Visit Visit Visit Visit
Review IG
Interactive Brokers

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 Interactive Brokers 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 No Yes
Gold Yes Yes Yes Yes
Copper No Yes No No
Silver Yes Yes No Yes
Corn No No No No
Crypto Yes Yes Yes No
Futures No Yes Yes Yes
Options No Yes Yes Yes
ETFs No Yes Yes No
Bonds No Yes Yes No
Warrants No Yes Yes No
Spreadbetting No Yes No No
Volatility Index No Yes No No

FXTM vs Other Brokers

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Article Sources

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