FXTM, known as ForexTime, is a well-known brokerage firm that has been in existence since 2011.

FXTM has grown quickly in recent years. Its corporate structure comprises three organisations that correspond to its three operations: the United Kingdom, Cyprus, and Mauritius.

FXTM lets you trade Forex currency pairs and crosses, some exotics, and precious metals such as gold and silver, crude oil, and natural gas. You can also trade key equity indices and contracts for difference (CFDs) on major American equities.

Through its concentration on the African and Asia markets, the firm showed strong and quick expansion within Europe and beyond in a relatively short period.

If you are looking to open an account with FXTM, consider this review first.

You can find our transparent FXTM review below. Broker reviews are updated frequently!

FXTM Review by TradeFX Homepage Screenshot

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  • User-Friendly Web-Based Platform

  • Great Customer Support

  • Established Broker

  • Broker Verified


  • Low Leverage

  • No ZAR Account Currency

FXTM Regulations

CySEC governs ForexTime Ltd in Cyprus, FSCA in South Africa, and an additional offshore regulator FSC in Mauritius. In addition, the Financial Conduct Authority has licenced the FXTM UK brand.

This multi-jurisdictional structure enables FXTM to differentiate its product based on the location of its traders. It is worth noting that obtaining licencing is a difficult task for any Forex broker. Thus, the fact that ForexTime has obtained regulation in multiple jurisdictions is quite commendable.

ForexTime Limited is also licenced by the Financial Sector Conduct Authority of South Africa.

3.6 stars from 100 ratings


FXTM, known as ForexTime, is a well-known brokerage firm that has been in existence since 2011. They have grown quickly in...

Sign upSign up
CFD service. Your capital is at risk.
Remember that CFDs are a leveraged product and can result in the loss of your entire capital. Please ensure you fully understand the risks involved.


FXTM’s record of consistent growth adds to its credibility. Following its creation in Cyprus in 2011, FXTM expanded and obtained its South African licence in 2016 and its United Kingdom licence in 2018. FXTM’s global customers have constantly been growing.

Clients of FXTM, like all Forex / CFD brokerages regulated in European Union member states such as Cyprus or the United Kingdom, are automatically offered negative balance protection.

In other circumstances, FXTM bears entirely and freely the tail risk of uncommon, extreme market action, which can be increased by excessive leverage.

FXTM does not require deposit insurance, which CySEC provides under the Investor Compensation Fund (CIF) for up to €20,000 and the FCA Financial Services Compensation Scheme (FSCS) for up to £85,000.

FXTM Tradeable products

FXTM provides trading opportunities in the following markets:

  • Forex
  • Metals (Gold, Silver)
  • CFDs on stocks (Apple, Google, and other major stocks)

In addition, the firm has launched 11 new dynamic currency and stock basket indexes, divided into six forex indices and five stock indices.

The FX indices follow leading currencies, whilst the stock indices follow trending retail sectors, such as dairy-free companies. These are excellent trading conditions for innovative new financial products.

FXTM Account types

You can choose between three account types: micro, advantage, and advantage plus. The account types differ based on the countries they are offered, the pricing, the minimum deposit, the available trading platform, and the items you can trade.

The micro account, which requires a $50 deposit to open, has the lowest minimum deposit. For traders located in Nigeria, the account can be denominated in USD, EUR, GBP, or 10,000 Nigerian Naira.

Variable spreads are levied and are subject to FXTM’s highest minimums, with a typical round trip spread on the main EUR/USD currency pair reaching 1.5 pips.

Overnight swaps, on the other hand, are neither charged nor paid in this account type. This account allows you to trade 25 major and minor Forex currency pairs, metals, commodities, stock baskets, and indices.

The advantage account is the next account type. It is available in the same base currencies as the micro account, but it requires a minimum deposit of $500 or 80,000. Spread for EUR/USD is zero pips.

The advantage plus account is the final account type. It accepts the same base currencies as the other two account types and has a $500 minimum deposit to register.

You can trade forex, metals, stocks, commodities, stock baskets, and indices. Spread starts from 1.5 pips on EUR/USD.

FXTM also offers a demo account, enabling you to hone your trading skills before investing your hard-earned cash.

Average Standard Account Spreads on Majors

  • EUR/USD: 1.5
  • GBP/USD: 1.8
  • USD/JPY: 1.7
  • AUD/USD: 1.8

Opening an account

The process of opening an FXTM account is simple and entirely digital. In less than 30 minutes, you can open an account. However, the account approval process is 1-2 business days. FXTM also asks you to send verification docs like proof of residence through email.

The following are the steps for creating an FXTM account:

  • Give your personal and financial details.
  • Describe your trading experience.
  • Validate your identity and citizenship. Uploading a national ID, passport, or driver’s license will allow you to verify your identification.

Account currency

There are four base currencies for opening an account with FXTM. They are:


Trading platform

FXTM offers three trading platforms: FXTM’s native platform, FXTM Trader, MT4, and MT5.

The trading platform at FXTM is user-friendly and well-designed. It is also customisable, with the ability to change the position and size of the tabs. FXTM native platform provides you with a better user interface compared to MT4 and MT5.

With availability in multiple languages, FXTM offers one of the greatest MT4 and MT5 platforms. It displays FXTM’s commitment to automated trading, something FXTM’s platform does not support. While the MAM/PAMM module is not accessible on MT4 and MT5, FXTM does provide a copy-trading feature.

Every trading platform is simple to use. Beginner traders will have little trouble picking it up. Both MT4/MT5 and FXTM Trader allow for customisation and feature several technical indicators and drawing tools for performing technical analyses.

The FXTM mobile trading platform is available for both iOS and Android devices. In terms of functionality, it is similar to FXTM native platform.

FXTM Commissions and fees

FXTM has great commission-free and commission-based pricing options. The broker begins with a minimum spread of 1.5 pips in the micro account for the EUR/USD.

As mentioned earlier, FXTM offers several account types that have different fees. The commission for the advantage plus account is lower if you have a higher account balance or trade more.

Non-trading costs are high at FXTM. After six months of inactivity, you’re charged $5 each month, and most withdrawal methods cost a fee as well. There are no account or deposit fees as a bonus.

The withdrawal charge varies depending on your country of residency, the method and the currency used.


While the maximum leverage FXTM allows can be as high as 1:2000 for certain jurisdictions, it is capped at 1:30 by FCA. These include trades major pairs, such as EUR/USD. This is because FXTM provides leverage based on regulation.

For less commonly traded pairs (minor forex pairs), leverage is set at 1:20.

Metals leverage is as follows: 1:20 for XAUEUR, XAUGBP and XAUUSD. For XAGEUR and XAGUSD, the leverage is 1:10.

Commodities: leverage of 1:10 is offered on US crude as a spot commodity.

A leverage of 1:5 is offered on CFD US shares.

Deposits and Withdrawals

Other than bank and credit cards, the availability of deposit and withdrawal options varies depending on whether you are from the EU, the UK, or a non-EU country.

If your preferred method is a bank transfer, it can take several business days, whereas credit/debit card payments are quick. Remember that you can only deposit funds from accounts in your name.

For withdrawal, you have the option of using a bank transfer, a credit card, or an electronic wallet.

Other payment methods include Skrill, Alfa-Click, Western Union Quick Pay, and Dotpay.

If you use credit/debit cards or electronic wallets, you can only withdraw up to the amount you deposited using the same method. As a result, you must withdraw any profits by bank transfer.

The withdrawal charge varies depending on your country of residency, the method and the currency used.

Education and Research

You can find eBooks, forex trading webinars, forex trading seminars, short forex videos, education videos and articles, and a periodic table in the education section, an interesting and delightful vocabulary of investing terms.

FXTM offers a variety of research tools, ranging from news flow to trend analysis-based trading recommendations. FXTM provides trading recommendations based on technical indicators. They are accessible via MyFXTM, Trading Services, and the FXTM Trading Signals area. On MetaTrader platforms, FXTM offers reliable news feeds.

Customer Service

Another positive aspect of FXTM’s client-oriented mindset is its competent customer support, which is available through various channels such as Online Live Chat, Phone, emails, Messenger, etc.

Besides the positive and high regard from clients regarding its good reputation, FXTM also offers a wide range of languages, so you can always rely on assistance when needed.

There are established centres in Asia, including Indonesia, Malaysia, Thailand, China, Africa, Europe, and other regions. Therefore it is true that FXTM meets traders’ global needs.

Bonuses and Promotions

Due to regulatory changes, FXTM regulation in the UK and the EU (Cyprus) restricts new bonuses and promotions. As a result, FXTM provides them to international traders through its Mauritius entity.

To aid in its marketing efforts, FXTM provides a refer-a-friend benefit. If you are an existing client, you will be given a unique referral link to attract new clients to FXTM. A minimum deposit, as specified under Compare Account and FXTM Invest, is required. Following the execution of 10.0 standard lots by the referred trader, both accounts, the referrer and the referee, will earn a $50 bonus.

Special features

FXTM Invest is a copy trading application that simply allows you to copy the trades of selected strategy managers on your account. Strategy managers are paid a percentage of the net profit on the trades you select to copy, which is deducted from the profit in the copier’s account.

Strategy Managers may select their charge percentage up to a maximum of 50%, as it is up to trade copiers to decide whether or not to replicate them. Customers of FXTM can become trade copiers with as little as $100 in capital.

FXTM Invest is not available to Forextime UK Limited clients.

Besides this, FXTM also offers VPS hosting for automated trading solutions. FXTM provides an API that allows you to have advanced trading options with FXTM’s platform.

FXTM South Africa

As a South African, you’ll be pleased to hear that FXTM accepts South Africans and has an FSCA licence. It does not, however, allow you to open an account in ZAR.

3.6 stars from 100 ratings


FXTM, known as ForexTime, is a well-known brokerage firm that has been in existence since 2011. They have grown quickly in...

Sign upSign up
CFD service. Your capital is at risk.
Remember that CFDs are a leveraged product and can result in the loss of your entire capital. Please ensure you fully understand the risks involved.

Affiliate program

FXTM has a new affiliate program, where partners can earn for every qualified client they refer.

Each partner is assigned a specialised affiliate manager who provides platform support and digital presence advice.

Our verdict

While most brokers focus on developed and well-known areas, FXTM focuses on other countries like Africa and Asia and has achieved significant success.

Because of this potential, FXTM has become one of the finest Forex suppliers in South Africa and one of the finest Forex providers globally.

Besides, the main and most powerful instrument in the FXTM business plan is education, which attracts new traders and provides a great opportunity for beginners.

Bottom line

FXTM is a great broker with top-tier regulations. On the plus side, it offers straightforward trading systems that are easy to master. It also provides excellent research tools, particularly trading APIs. Creating an account is a simple and quick process.

Customer service responds quickly and accurately. There are a variety of teaching materials available, including demo accounts and seminars.

Feel free to try FXTM because account opening takes only a few minutes, and customer service is helpful and efficient.

We value your feedback: Rate this broker by leaving a comment and rating below this review.

Broker FAQ

Thinking of Trading with FXTM?


What is the FXTM’s minimum deposit?

The minimum deposit for the micro account is $50, while the minimum deposit for the advantage and advantage plus account is $500.

How do I deposit/withdraw from the FXTM account?

You can deposit/withdraw funds through debit or credit card, bank wire transfer Skrill, Alfa-Click, Western Union Quick Pay, and Dotpay.

Is FXTM spreads high?

FXTM offers tighter spreads, delivering a trading cost advantage to clients.

What is the maximum leverage at FXTM?

FXTM offers maximum leverage of 1:2000

Does FXTM use MetaTrader?

Yes, FXTM uses MT4 and MT5

Is FXTM available in South Africa?

Yes, FXTM is available for South African traders.


FXTM, known as ForexTime, is a well-known brokerage firm that has been in existence since 2011. They have grown quickly in recent years due to popularity.

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