FXTM Review 2023

  • 8.6

FXTM review summary

FXTM is an international CFD and forex broker, regulated by the UK FCA, CySEC of Cyprus and the Mauritian FSC. 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 average 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. BrokerChooser gave FXTM a 4.3/5 rating based on analyzing 500+ criteria and testing via opening a live account.

FXTM is a regulated broker, it is overseen by top-tier financial regulators in multiple countries . FXTM is also covered by investor protection in selected jurisdictions. We at BrokerChooser always test brokers with real money, including the withdrawal process.


FXTM is available in Pakistan

80% of retail CFD accounts lose money

FXTM pros and cons

Pros Cons
Superb customer service Average CFD fees
Great educational tools Inactivity and withdrawal fees
Digital and fast account opening Limited product portfolio
I recommend FXTM for forex traders familiar with the MetaTrader platform.
Gergely Korpos
Co-founder / CPO

FXTM main highlights

🗺️ Country of regulationCyprus (and license from South Africa), UK, Mauritius
💰 Trading fees classLow
💰 Inactivity fee chargedYes
💰 Withdrawal fee amount$3
💰 Minimum deposit$50
🕖 Time to open an account1 day
💳 Deposit with bank cardAvailable
👛 Depositing with electronic walletAvailable
💱 Number of base currencies supported4
🎮 Demo account providedYes
🛍️ Products offeredStock, Forex, CFD, Crypto

To read much more details about the broker’s services and features, expand on the sections below.

Our overall TD Ameritrade Review rating
  • 8.6

  • Fees
  • Account opening
  • Deposit and withdrawal
  • WebTrading platform
  • Mobile trading platform
  • Desktop trading platform
  • Markets and products
  • Research
  • Customer service
  • Education
FXTM review


FXTM’s trading fees are low for forex, but average for CFDs. There is also a withdrawal fee.

Pros Cons
Low trading fees Withdrawal fee
Low forex fees Average CFD fees
Low financing rate
FXTM fees snapshot
AssetsFee levelFee terms
S&P 500 CFDLowThe fees are built into the spread, 1 point is the average spread cost during peak trading hours.
Europe 50 CFDLowThe fees are built into the spread, 3 points is the average spread cost during peak trading hours.
EURUSDLowMT4 Advantage account: there is a commission which 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
Inactivity feeLow$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.

First, let’s go over some basic terms 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 Tickmill. 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

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 average CFD fees.

FXTM CFD fees for a $2,000 long position held for one week
FXTM XM Tickmill
S&P 500 index CFD fee $2.6 $1.4 $1.3
Europe 50 index CFD fee $2.5 $2.0 $1.4
Apple CFD fee $31.5 $5.4
Vodafone CFD fee $1.2

Forex fees

FXTM’s forex fees are low.

FXTM forex benchmark fees of a $20,000 30:1 long position held for one week
FXTM XM Tickmill
EURUSD benchmark fee $13.2 $8.8 $5.4
GBPUSD benchmark fee $8.4 $6.4 $4.5
AUDUSD benchmark fee $8.5 $8.7 $5.3
EURCHF benchmark fee $6.4 $9.3 $2.8
EURGBP benchmark fee $12.0 $10.1 $6.7

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: 
FXTM ECN commissions
Account balanceTrading volume (in million USD)
 Less than 100100 – 150150 – 250Over 250
$0 – 2,99920191815
$3,000 – 4,99919181714
$5,000 – 19,99918171613
$20,000 – 49,99917151311
$50,000 – 199,9991613119
$200,000 – 499,9991412108
$500,000 – 999,999131086
$1,000,000 – 4,999,99912964
Over $5,000,000Determined 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 non-trading fees
FXTM XM Tickmill
Account fee No No No
Inactivity fee Yes Yes No
Deposit fee $0 $0 $0
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. Click here to see a detailed table in the Deposit and Withdrawal chapter.

FXTM review

Account opening

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

80% of retail CFD accounts lose money

FXTM accepts clients from all over the world, but there are a few exceptions.

Regional restrictions at FXTM
HaitiSurinameNorth KoreaPuerto Rico
BrazilNew ZealandOccupied Area of CypursHong Kong

What is the minimum deposit at FXTM?

The required FXTM minimum deposit is different for the various account types. It’s $50 for the Micro accounts, $500 for Advantage account, and $500 for Advantage Plus. 

Account types

There are a 3 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.

FXTM account types
 Available countriesPricingMinimum depositTrading platformsAvailable products
Micro AccountAll countriesHigher spread, no commission$/€/£ 50MT4Forex, commodity CFD
Advantage AccountAll countriesCommission and tihgt spread$/€/£ 500MT4/MT5Forex, commodity / stock index CFD
Advantage Plus AccountAll countriesNo commission and tight spreads$/€/£ 500MT4/MT5Forex, commodity / stock index CFD

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. Since our testing these platforms have been renamed to Advantage Account. 

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:

  1. 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
  2. Select the account type you wish to open
  3. Add more personal information, like date of birth and level of education
  4. Give your current address
  5. Answer some questions about your financial background and experience
  6. Fill out a questionnaire about your financial knowledge
  7. 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

Our best alternatives to FXTM are:

The highest ranking competitors are:

  1. XM full review
  2. Tickmill full review
  3. FxPro full review
  4. Admirals (Admiral Markets) full review
FXTM review

Deposit and withdrawal

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.

Base currencies at FXTM vs similar brokers
FXTM XM Tickmill
Number of base currencies 4 10 5

This selection falls behind competing brokers. Both XM and Tickmill offer more base currencies.

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading 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. These 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 deposit options
FXTM XM Tickmill
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

Crypto (BTC only)
No No Yes
Yandex.money, Qiwi No No Yes
VLOAD, WebMoney, Perfectmoney, Fasapay, TC Payment, GlobePay, Nganluong No No Yes
Algerian / Afghani / African Local Solutions (D) / Bangladeshi / Egypt / Ghanan / Indian / Indonesian / Iraq / Latin American local transfer / Malaysian / Nigerian bank wire / Pakistani / Palestinian / 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 withdrawal fees and options
FXTM XM Tickmill
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes Yes
Electronic wallets Yes Yes Yes
Withdrawal fee $3 $0 $0

If you use credit/debit cards or electronic wallets, you can only withdraw up to the amount you have deposited via the same method. Therefore, you have to withdraw any profit by using a bank transfer.

The withdrawal fee varies based on your country of residence, the method you use, and the currency you make the withdrawal in.

FXTM withdrawal fees
Withdrawal method EU countries UK Other countries
Credit cards €2 / $3 / £2 €2 / $3 / £2 €2 / $3 / £2
Crypto (BTC only) NA NA 1%
Bank wire transfer €20 / £25 €10 / £5 €30
Neteller, Skrill Free Free Free
China Local/Online banking NA NA Free
Yandex.money, QIWI NA NA 1.5%
WebMoney NA NA 2%
Online Banking Malaysia / Indonesia / Vietnam / Thailand (fee depending on which one you choose) NA NA 0-2.5%
Paypal 2% NA NA
PerfectMoney, Fasapay NA NA 0.5%
African local solution NA NA $1
Nganluong NA NA 1.1% + $0.05
Nigerian Bank Wire Transfer NA NA 1.5%
China Online Banking GlobePay Algerian / Afghani / Nganluong  / Bangladeshi / Egyptian / Ghanan / Indian / Indonesian / Iraq / Latin American local transfer / Online Banking Malaysia / Pakistani / Palestinian / Syrian / South Arabian Peninsula Local Transfer / Sub-Saharan Africa and Dubai / Turkish Local Transfer Latin American solutions via Skrill TC Payment Local Exchange House NA NA Free
South East Asia Online Banking NA NA 1.4%

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.
FXTM review

Web trading platform

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
FXTM platforms to choose from
Trading platformScoreAvailable

FXTM doesn’t have its own self-developed trading platform, it uses third-party platform: MetaTrader 4. ForexTime will be launching MT5 in the near future, but 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.

FXTM web trading platform languages
Traditional ChineseTurkishUkrainianUzbekVietnamese 

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.

If you are not familiar with order types, read this overview.

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.

80% of retail CFD accounts lose money

FXTM review

Mobile trading platform

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 mobile trading platform. Similarly to the web trading platform, we tested this 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.

FXTM mobile trading platform languages
ArabicChinese (Simplified)Chinese(Traditional)CzechEnglish
Portuguese (Brazil)RussianSpanishThaiTurkish

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.

80% of retail CFD accounts lose money

FXTM review

Desktop trading platform

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 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

80% of retail CFD accounts lose money

FXTM review

Markets and products

FXTM’s product selection covers forex and CFDs. 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. FXTM offers metals as well, on the other hand ETF CFDs and bond CFDs are not available. 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. 77% 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 product selection
FXTM XM Tickmill
Currency pairs (#) 62 55 62
Stock index CFDs (#) 11 24 23
Stock CFDs (#) 172 1,261 97
ETF CFDs (#)
Commodity CFDs (#) 3 15 7
Bond CFDs (#) 4
Futures CFDs (#)
Cryptos (#) 4 8

FCA banned the sale of crypto-derivatives to UK retail consumers from 6 January 2021.

You can change leverage levels at FXTM, which is great.

Changing the leverage is a very useful feature when you want to lower the risk of your trade. Be careful with forex and CFD trading, as preset leverage levels may be too high.

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 stock and ETF selection
FXTM XM Tickmill
Stock markets (#) 3 3

The available stock markets are NYSE, NASDAQ and the Hong Kong Stock Exchange.

Social trading

All clients except UK and EU clients, can use FXTM Invest, a social trading service.  This means, if you are onboarded under Mauritius regulation (FXTM’s Exinitiy Ltd entity) you’d be able to use this feature.

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


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
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.


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 offers great news feeds through MetaTrader platforms. The news includes charts and other visual elements. It’s not common for a broker to support news feeds on MetaTrader platforms.

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

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
  • email

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

80% of retail CFD accounts lose money

FXTM review


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

80% of retail CFD accounts lose money

FXTM review


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

Disclaimer: from March 2021, FXTM ends retail operations in the EEA, under CySEC regulation. Only professional clients will be able to use FXTM’s services in this region.

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 the Republic of Mauritius (FSC). The ForexTime Limited 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.

FXTM legal entities
Country of clientsProtection amountRegulatorLegal entity
Only for professional EEA (except UK) and South Africa clients€20,000Cyprus Securities and Exchange Commission (CySEC), and licensed by the Financial Sector Conduct
Authority (FSCA) of South Africa
ForexTime Limited
United Kingdom£85,000Financial Conduct Authority (FCA)Exinity UK Ltd.
International clientsNo protection*Financial Services Commission of the Republic of MauritiusExinity Ltd.

*There’s however a protection provided by an international organization, in which FXTM is a member. FXTM’s Exinity Ltd. entity is a member of The Financial Commission, which aims to resolve disputes within the financial services industry. It offers a max €20,000 protection but it is not a certain guarantee, and not all clients are eligible as not the entire client base is covered. Because it is not a standard investor protection scheme, it may be less effective therefore we excluded it from our table.

FXTM provides negative balance protection for forex spot and CFD trading, but only for all its clients.


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

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.

80% of retail CFD accounts lose money

FXTM review


We recommend FXTM for forex traders familiar with the metatrader platform.

Below you can find links to all aspects of FXTM in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our FXTM fees article.

What about the minimum deposit?

Our ultimate guide to the FXTM minimum deposit is updated regularly.

How to start your FXTM account?

Look no further than our evaluation of the FXTM account opening.

How’s their trading app?

Here’s our expert view after checking the FXTM trading app.

Is the quality of customer service satisfactory?

All you need to know about the FXTM customer service.

Legit or scam?

Is FXTM legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether FXTM is really free.

Is this broker good for beginners?

We checked it in Is FXTM good for beginners.

Should you buy your silver bullets on FXTM?

Research for silver bugs in the Silver buy on FXTM guide

I want to trade options, are they available at FXTM?

We explored the topic in Can you trade options on FXTM?

What is the minimum account balance at FXTM?

Check out the current account balance requirements at FXTM in our What is the minimum account balance at FXTM article.

Looking for commission and fees data for FXTM?

We collected them in FXTM commission and fees.

How do you withdraw money from FXTM?

We tested it and collected the options and costs in How to withdraw money on FXTM.

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