FXTM review 2025:
All you need to know

Regulated regions

United Kingdom: FXTM, under the name ForexTime UK Limited, is regulated by the Financial Conduct Authority (FCA), which is a Tier 1 regulatory body. Their licence number is 777911, and they are registered with the company number 07620012.

Cyprus: In Cyprus, FXTM operates as ForexTime Ltd, regulated by the Cyprus Securities and Exchange Commission (CySEC), a Tier 1 regulator. They hold CIF licence number 185/12 and have a company registration number of HE310361.

South Africa: ForexTime Ltd is authorised by the Financial Sector Conduct Authority (FSCA) in South Africa, with FSP number 46614. While not explicitly tiered, FSCA is recognised as a reputable regulatory body.

Mauritius: Here, Exinity Limited is regulated by the Financial Services Commission (FSC) with an Investment Dealer Licence number C113012295. The FSC oversees financial services in Mauritius without a tier classification.

Kenya: FXTM operates as Exinity Capital East Africa Ltd, regulated by the Capital Markets Authority (CMA) of Kenya with licence number 135, focusing on non-dealing online foreign exchange brokerage.

Belize: Previously, FXTM was regulated under FT Global Limited by the International Financial Services Commission (IFSC) of Belize, but recent regulatory shifts have seen a move away from CySEC for retail clients, indicating potential changes in regulatory approaches.

FXTM does not offer services in several countries due to regulatory restrictions, including but not limited to the USA, Mauritius, Japan, Canada, and several others listed.

Currencies accepted for deposits/withdrawals

FXTM accepts deposits and withdrawals in major currencies like USD, EUR, and GBP. For cryptocurrencies, they accept Tether (USDT), Bitcoin (BTC), Ethereum (ETH), and TRON (TRX). Local currency deposits are also facilitated for various countries, depending on the payment methods available locally.

Account types

Standard Account: Best for beginners with no commission fees.

Advantage Account: Suited for active traders with commission-based trading for lower costs.

Advantage Plus Account: Offers tight spreads without commissions, ideal for traders looking for simplicity in fees.

Stocks Account: For trading over six hundred cash equities.

Islamic Account: Swap-free trading for those adhering to Islamic finance principles.

Demo Account: A risk-free environment for learning and practice.

Note: UK-based customers are restricted to only Advantage and Advantage Plus live accounts.

Minimum deposit

The minimum deposit is $200 ($10 Micro Accounts).

Costs and fees

Advantage Account: Commissions are charged per lot traded, with specifics varying by asset class.

Spreads start at 0.0 pips for major forex pairs.

Advantage Plus Account: No commission fees but it has wider spreads starting from 1.5 pips.

Micro (Beginner) Account: Like Advantage Plus in terms of no commission and wider spreads.

Islamic Account: Features swap-free trading but might incur fees beyond a 7-day period for some instruments.

Additional charges: An inactivity fee might be applied after three months of no activity if there is a positive balance.

Swap fees for forex, metals, indices, and commodities vary.

Bonus and promotions

FXTM offers various promotions:

Referral bonus: $50 for each successful referral.

Welcome back trading credit: Up to 20% trading credit on deposits for returning traders.

Trading contests: Regular competitions with cash prizes.

Depositing ease

Bank wire transfer: Takes 3-5 business days, minimum 60 EUR/USD.

E-Wallets: Fast processing within 30 minutes.

A flat fee of $3 applies for transactions under $30 or equivalent.

The account sign-up process for this review was delayed because the UK auditor needed to provide additional information. Despite the prompt submission of documents for identity verification and proof of address, verification was placed on hold, requiring a support ticket where the agent asked for further information on professional status. A confusion with email addresses extended the process by over a week, which might have been shortened with live chat support for UK customers.

An appropriateness assessment mandated by the FCA was necessary to set the account leverage.

After account verification at FXTM, the funding process is user-friendly. Debit card deposits are processed instantly, with confirmation of funds visible immediately on the website and trading platforms, and via an email that acknowledges the deposit, which remains pending until payment verification is completed to unlock withdrawal capabilities.

Withdrawing ease

Follow a similar structure with processing times from the same business day for cards to several days for wire transfers. Withdrawals back to the original payment source are standard, with minimal fees for e-wallets.

Once initiated, the funds are promptly withdrawn from the trading account, and an email confirmation is sent. The funds are returned to the original source of payment typically on the following business day, assuming there are no verification delays or additional information required.

Tradeable asset classes

FXTM has an extensive range of trading instruments, offering 700 CFDs across various asset classes. This includes 47 Forex Pairs, 3 Spot Metal CFDs,1 Futures CFD for NAS100Z4, 13 Commodity CFDs, 18 Indices CFDs, over 600 Stock CFDs (subject to regional variations), 17 Cryptocurrency CFDs, and 3 Indicative CFDs. The availability of these instruments can vary by region, and there might be restrictions on trading certain assets like stocks and cryptocurrencies due to local regulations.

Lot sizes

The minimum trade size across most accounts is 0.01 lots. Mini lots, at 0.10 lots, and standard lots, at 1 lot, cater to those looking to trade larger volumes. While the maximum volume per order caps at 100 lots, the Micro Account restricts this to 10 lots per trade. Advantage and Advantage Plus accounts offer flexibility with unlimited positions per order, although individual trades still max out at 100 lots.

Leverage

Leverage at FXTM varies significantly by regulation and asset class:

Forex: In the EU and UK, leverage for major pairs goes up to 30:1, with minor and exotic pairs at 20:1. Outside these regions, leverage can peak at 1,000:1 for major pairs and 500:1 for others.

Metals: Gold and Silver leverage in regulated EU and UK markets is limited to 20:1 and 10:1 respectively but can reach 500:1 in less regulated regions.

Commodities and Indices: These asset classes see leverage up to 10:1 in EU/UK, extending to 100:1 in other regions.

Stocks: Leverage is conservative at up to 5:1 in the EU, with a slight increase to 10:1 elsewhere. For Stock CFDs, any transaction beyond 1:1 leverage is considered fractional.

Cryptocurrencies: Due to regulatory constraints, leverage for crypto CFDs might be capped at 2:1 or prohibited for retail clients in some regions, while in others, it could go up to 1,000:1.

Professional clients might enjoy higher leverage, potentially up to 200:1 or 500:1, based on asset and jurisdiction.

Execution quality

FXTM claims an average execution speed of approximately 71 milliseconds, setting a high bar for traders needing quick trade execution. However, while real-world execution might occasionally be slower, it remains within an efficient range for market orders. This can vary due to factors like server latency and market conditions, but FXTM's execution is still commendable.

Regarding order fills, FXTM ensures trades are executed with minimal slippage, often at or close to the requested price. This consistency in fill prices is crucial for traders and demonstrates FXTM's reliability in managing trades effectively.

A real-world performance test of EUR/USD with a limit order was activated at a -0.00005 premium, and the stop limit was activated at a +0.00005 discount. The premiums and discounts are negligible, essentially balancing out. These slight variations did not significantly affect the trade outcomes.

Execution speed for market orders ranged from 373 to 435 milliseconds. While this does not reach the highest end of what FXTM claims as an average, the speeds for market orders remain very competitive within the industry, indicating efficient order processing.

Trading platform

FXTM provides a variety of trading platforms designed for different trader needs. MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are favoured by many brokers for their backend server reliability, which contributes to a stable and smooth trading experience. The FXTM Trader App ensures mobile accessibility, while WebTrader offers a no-download trading solution.

Trading tools

FXTM offers an extensive educational suite and trading tools, though some aspects of their educational content need updating.

Webinars and seminars: Historically, FXTM has been known for hosting live webinars and interactive seminars globally. However, at present, there are no live sessions, with the last updates on their offerings dating back to 2020. While there is a promise of future webinars, for now, traders can only access outdated recordings.

Video tutorials and Ebooks: The platform compensates for the lack of recent live sessions with a library of video tutorials from past webinars, albeit outdated, and a modest collection of eight e-books. These resources cover fundamental trading strategies, market analysis, and specific topics like cryptocurrency trading, but the content could benefit from more contemporary updates.

Trading tools: FXTM provides practical tools for traders, including an economic calendar, a signal centre powered by Acuity, and their own FXTM signals which are updated three times daily. These tools are designed to keep traders informed about market openings and provide timely trading ideas.

Community engagement: The broker fosters a community atmosphere through forums and social media interactions, which help traders exchange knowledge and strategies.

Educational content: The FXTM website centralises educational resources with an overview, market analysis, a glossary, and beginner's guides on various trading subjects. This section is particularly useful for new traders looking to get started with forex or CFDs.

Copy trading with FXTM Invest: FXTM's copy trading service, FXTM Invest, allows less experienced traders to mirror the trades of seasoned professionals. This feature is geared towards those who wish to learn or earn without actively managing their trades.

Regulation tiers

Tier 1: Regulated by the FCA in the UK, and also CySEC in Cyprus, offering high protection for traders.

Other Tiers: Operates under the FSCA in South Africa and FSC in Mauritius, which might not be as rigorous but still provide regulatory oversight.

Regional: Includes regulation by CMA in Kenya for local clients.

The tier system reflects the level of regulatory strictness and client protection, with Tier 1 providing the most comprehensive safeguards.

Awards and Recognition

They have won awards for Best Forex Broker in Africa 2021: As recognised by the Global Business Review Magazine, this award reflects FXTM's success in catering to African markets, offering localised services, and understanding the unique needs of traders in this region.

Also, Best Forex Education Provider 2022: At the Forex Expo Dubai, FXTM was honoured for its educational initiatives.

Schedule/Time to reply

Weekday support is available 24 hours a day from Monday to Friday. Weekend support operates on a limited schedule.

Response times for live chat and phone are noted for their quick response times, with clients often receiving help within minutes, which is ideal for time-sensitive issues.

Email support for less urgent queries is available, with most inquiries being addressed within 24 hours. However, for FXTM UK, the process involves submitting a support ticket via a contact form, which can lead to longer wait times.

Unlike the global offering, FXTM UK does not provide live chat support with a direct agent switch option. Instead, clients must use a 'raise request' form, which can result in longer wait times for a response. The average time to respond is approximately 6 hours and 11 minutes. This variability might be due to the differing complexity of issues or the timeliness of support availability.

There was an instance where a support inquiry for FXTM UK was closed without resolution, which could indicate room for improvement in their ticket management system or customer follow-up procedures.

Languages available

The FXTM website is available in English, Arabic, Spanish, Portuguese, and Chinese. They support 18 languages for broader customer support. Including but not limited to: Arabic, Chinese, Czech, English, Farsi, French, Hindi, Indonesian, Italian, Korean, Malaysian, Polish, Russian, Spanish, Urdu, Vietnamese.

FPA page to see more user experiences with this broker.