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FXTM Review – Pros and Cons Uncovered

FXTM Review

FXTM is a leading forex and CFD broker. This FXTM review details their service, including account types, the trading app, the demo account, and of course the trading platform, including MT4. We also list any current bonus offers and key comparison data such as min deposit and min trade amounts. Read on and log in today.

FXTM Trading Platforms

FXTM offers a range of trading platforms. Desktop or laptop users can choose from Metatrader 4 or Metatrader 5. These are the go-to platforms for trading, with an excellent reputation.

Metatrader 5 is available for download use on laptops or desktops, but not for small screen users, who will need to continue with Metatrader 4. Both MetaTrader versions are easy to navigate and include shortcuts that make opening and/or closing trades fast and straightforward.

Metatrader 5 offers the following added benefits to those provided by Metatrader 4:

  • Improved number of order execution types (4 as against 3).
  • MT5 has an edit function for trades, as well as an increased number of pending orders available.
  • There are a significantly larger number of technical indicators (38 as against 30), graphical objects (44 as against 31), and time frames (21 as against 9).
  • Metatrader 5 also incorporates an economic calendar.
  • MT5 also has an intriguing community chat feature, which allows traders to communicate with one another.

Mobile users can take advantage of the MetaTrader 4 app, which is available in a format suitable for both Android and iOS devices.

MT4 Webtrader is also available for use on PCs and Macs. This is a software-free version that’s web-based. This means that traders can simply log on and start trading – there’s no need to download anything first.

Assets / Markets

Instruments offered will vary based on the country of residence of the Trader.

FXTM offers opportunities to trade in the following markets:

  • Forex
  • CFDs for Indices and Commodities (FTSE, DAX, Nasdaq etc)
  • Spot metals (Gold, Silver)
  • Shares CFDs (Apple, BP, Google etc)

The broker has also rolled out 11 new dynamic currency and stock basket indices, split across 6 forex indices and 5 stock indices. The FX indices track leading currencies while the stock indices track trending retail spaces, such as vegan-related firms. These are a great opportunity to trade in innovative new financial products with competitive trading conditions.

FXTM Mobile App Trading Platform
FXTM Mobile App And Trading Platforms Incl MT5

Spreads & Commission

Commission percentages are relatively low for Forex traders and around the industry average for CFD trades. With ECN account options, spreads can be as low as zero pips, along with low commissions of $0.2 per lot. With the Standard Account, spreads start a little higher, but remain very competitive.

In this respect, FXTM is a good provider to trade with.

Please note that Spreads are floating and they may increase during specific periods of the day depending on the market conditions.


The company does introduce several additional charges that, if they are applied, can make them an expensive choice. For example, there is an inactivity fee, which means that if your account isn’t used for a period of time, a charge is levied.

FXTM Leverage

Leverage rates vary depending on the trade being considered.

For the majority of the major Forex pairs, leverage is set at 1:30. These include trades major pairs, such as EURUSD. This is a level imposed by ESMA regulation and is the same across most regulated brokers.

For less commonly traded pairs (minor Forex pairs), leverage is set at 1:20. Such pairs include AUDCAD, EURNOK, EURAUD, NZDUSD, EURPLN and USDSGD.

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

Leverage is offered on some indices. For example: 1:5 on USTech100(mini), 1:10 on Spain35

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

Leverage of 1:5 is offered on CFD US shares.

Note that leverage is not automatically agreed upon. FXTM will agree on leverage based on individual experience, previous trading record, degree of customer loyalty, and various other factors.

FXTM Pivot Point Trading Strategy
FXTM Pivot Point Strategy

Mobile Apps

The site offers users the choice of two different apps. The first one is the mobile app which enables trading via Metatrader 4. This app is available for download in both Android and iOS formats. The app can be downloaded from the site.

This app gives users access to all MT4 functions, enabling effective trading on the move. What it doesn’t do is provide users with access to the enhanced functionality and information which the MT5 platform gives. This can be frustrating for traders who wish to use MT5 on the move but have no choice but to make do with MT4.

The second app, available from the Apple App Store or Google Play, is the MyFXTM trading app. This is offered in both iOS and Android formats. Designed to provide an enhanced trading experience, features include:

  • 250+ financial instruments
  • The ability to modify, open and close positions rapidly
  • A trading dashboard
  • Real-time updates
  • Advanced charting tools
  • Single click trading

This is a great all-around app for mobile trading and is a great addition to the online platforms.

Payment Methods Offered by FXTM

FXTM offers multiple deposits and withdrawals methods, all geared towards inclusive trading.


Deposits can be completed through the following methods:

Some deposit methods have a two-hour processing time, while others are instant. All deposit methods are commission-free.

Minimum deposits vary based on the type of account:

  • Standard Account £/$/€100
  • Cent Account £/$/€10
  • Stock CFDs Account £/$/€100
  • ECN Acc MT4 and MT5 £/$/€500
  • ECN Zero MT4 and MT5 Account £/$/€200
  • FXTM Pro MT4 and MT5 Account £/$/€25000


Withdrawals are available using the following methods:

Visa, Maestro, and Mastercard: these transactions are usually processed on the same working day. The money can be withdrawn in USD, GBP, or EUR. The commission is set at 2EUR/3USD/2GBP.

Neteller withdrawals are processed on the same working day. Money can be withdrawn in USD, GBP, or EUR. No commission is charged.

Similarly, Skrill withdrawals attract no commission and are processed the same working day.

Bank transfers take 24-hours to process and the only available currencies are GBP or EUR. The fees for bank transfers are 10EUR or 5GBP.

If you intend to withdraw, the best methods are via a credit card, Neteller, or Skrill.

Note that FXTM may ask for additional information before authorizing a withdrawal. If this isn’t forthcoming promptly, the withdrawal may take much longer than the stated period.

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 essential.

Demo accounts are available on the Standard, Cent, ECN, and ECN Zero Accounts.

FXTM Trading Signals
FXTM Trading Signals

FXTM Deals And Promotions

Several bonuses and promotions are available. These include, among others, the 30% Bonus and the FXTM Loyalty Program. Please note that all promotions and contests come with Terms and Conditions.

Forextime Limited and Forextime UK Limited only offer the Loyalty Program (T&Cs apply) which applies only to Elective Professional/Professional Clients or Eligible Counterparty.


One of the areas in which FXTM is extremely strong is the amount and caliber of the educational material that is available. Users can select from a comprehensive range of materials, presented in a variety of formats. Resources include webinars, tutorials, articles, and a glossary of terms. Topics covered include:

  • Ebooks
  • Forex trading seminars
  • Forex trading webinars
  • Forex glossary
  • What is Forex?
  • Beginners guide to Forex trading
  • Forex trading strategies
  • Educational videos
  • Articles
  • Periodic table

This spread of information provides a wealth of knowledge for both beginner traders and those with some trading experience.

The materials are well-written and easy to follow. The variety of formats means that there is something suitable for learners with different styles.

In addition, the customer support team is also available to answer trading queries, providing additional support for traders.

Particularly when new traders take advantage of the demo account to try out their techniques and strategies before trading live, there is the potential to obtain a good, solid grounding in how trading operates and how best to take advantage of the market.

Whilst study of the educational materials alone is not going to guarantee success, the quality and quantity of material available, as well as the additional tools which traders are offered, back up FXTM’s reputation as a responsible, helpful broker who puts customer care at the heart of what they provide.

Regulation And Licensing

As indicated earlier, the FXTM brand is regulated by CYSEC (the regulatory body for Cyprus) and the FCA (the financial regulatory body for the UK), and the FSC (the regulatory body in Mauritius).

CYSEC and the FCA are widely recognized as rigorous financial bodies. To be regulated and licensed by these authorities, FXTM has to demonstrate a high level of financial accountability and fair, transparent, and honest trading.

Full Regulatory Details:

ForexTime Limited (www.forextime.com/eu) is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614.

The company is also registered with the Financial Conduct Authority of the UK with number 600475.  

Exinity Limited (www.forextime.com) is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295.

Forextime UK Limited (www.forextime.com/uk) is authorized and regulated by the Financial Conduct Authority, firm reference number 777911.

FXTM Review

Additional Features

In addition to the other benefits which FXTM provides, they also offer free trading tools and daily commentaries from the FXTM team of experts.

A loyalty program is in operation at FXTM (available only for Professional clients, while T&Cs apply): regular customers who sign up for the loyalty program can benefit from a reduction in trading fees on every trade that they complete.

The loyalty program is divided into five different levels, or tiers. Which tier a customer is in depends on the amount that they deposit. The bigger the deposit, the higher the discount they can expect to enjoy on each trade.

  • The Level 1 of the loyalty program (for investors with a balance between $0 and $4,999) can enjoy savings of $300 ($1 on 0-100 lots, $2 on 100+ lots).
  • Second Level 2 traders (with a balance of $15,000 to $49,999), can enjoy a maximum saving of $1,500 (or the equivalent in GBP or Euros).
  • Level 3 traders (who have a balance of $50,000 to $99,999), can expect to enjoy $3 off 0-100 lot trades and $4 off 100+ lot trades, to a maximum of $3,000.
  • For Level 4 traders who have deposited $100,000 to $149,999, the discounts are $4 on 0-100 lots and $5 on 100+ lots, to a maximum of $6,000.
  • Finally, Level 5 traders (the top tier of the loyalty program, where balances are $150,000+) can benefit from $5 off every trade (both 0-100 lots and 100+ lots) to a maximum of $10,000. This loyalty program has the advantage of being a direct, cash discount, rather than virtual points or similar.

The site also offers regularly updated commentary on various aspects of trading by FXTM experts. FXTM is frequently quoted on trading sites and in the media, as they are recognized as providing high-caliber insights.

This wealth of expertise may give FXTM traders an advantage when it comes to making informed decisions about their trading options.

Account Types offered by FXTM

FXTM offers the following accounts:

  • Standard Account: This account is also available without the SWAP option; fixed leverage for each instrument; fast actioning; hedging is permitted; narrow floating spreads; all commission is clearly displayed; offered in three different currencies – euros, pounds sterling and US dollars.
  • Cent Account: Fixed leverage for each instrument; the account also comes without SWAP; narrow floating spreads; rapid execution; rigid leverage for each instrument; the units of currency are UK pennies, USD cents and Euro cents; Single cent lots are available.
  • Stock CFDs Account: This account does not charge commission; over 170 US shares on offer; rapid transactions; hedging is permitted; three currencies offered (GBP, USD and EUR); the fixed leverage ratio is 1:5, and an account without SWAP can be opened if required.
  • ECN Zero Account: Narrow floating spreads; static leverage for each instrument; both scalping and hedging are permitted; no SWAP option available; the account doesn’t allow re-quotes.
  • ECN Account: Euros, pounds and US dollar options available; spreads start as low as 0.11; commission commences from a low $4; permitted scalping and hedging; no SWAP choice on offer; re-quotes aren’t permitted.
  • FXTM Pro Account: Zero commission; really rapid market execution without re-quotes; SWAP free account with these benefits is also available; direct access to liquidity from high-calibre providers; zero last-look pricing; fixed leverage.

This range of accounts covers the needs of most customers, including Islamic customers. All accounts offer a good range of benefits and can be tailored to suit individual requirements.


  • FXTM is well-known for having excellent customer care, providing a prompt, helpful and accessible service.
  • They are tightly regulated, enabling traders to deposit with confidence.
  • The selection of educational tools available is exceptionally good.
  • Many commentators feel that their Forex fees are highly competitive.


  • Bank account withdrawals attract a relatively high fee.
  • Some of the charges for larger trades can be confusing.
  • FXTM no longer offer any form of Cryptocurrency trading

Trading Hours

The actual site 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 from 3 am to 12 noon; New York is from 9 am to 5 pm; Sydney is 5 pm to 2 am, and the Tokyo market is open from 7 pm to 4 am (all times are GMT).

Company Details

FXTM (also known as Forextime) was set up in 2011 and was originally constituted and regulated in Cyprus by the Cypriot Securities and Exchange Commission. As well as offices in Cyprus, the company has had a UK presence since 2018.

Currently, with offices in London, FXTM is also licensed and regulated by the UK’s Financial Conduct Authority (FCA). It is also licensed in South Africa and regulated by the FSC of the Republic of Mauritius. The company is well-known and considered by many commentators to be a leading player in the Forex trading field.

This is in part due to its longevity, but also due to its FCA and CYSEC registrations, both of which are considered to be some of the toughest and most rigorous in the world.

The company provides an attractive trading environment for both novice and more experienced traders. That said, there is potential for traders who tend to regularly utilize large trades to pay additional charges which aren’t levied on other platforms.

Contact Details / Customer Support

European operating hours are from 8 am to 8 pm. During this time, customers can get in touch with the customer care team by phone, email, post, or via several different online chat options (Whatsapp; live chat; Viber; Telegram; or Messenger). Customers can also request a callback.

The European phone number for FXTM is: +357 25 558 777.

The email address is: [email protected]

Safety And Security

  • The site uses Encryption software to ensure users privacy and security
  • Protection of client’s funds in segregated accounts in top tier banks
  • Registration of various clients in Investor compensation fund

The suite of IT security measures, coupled with the customer protections necessary for FCA compliance, ensure that traders who use FXTM are well-protected against theft of funds or data.

Overall Verdict

An established trading platform and broker, FXTM offers several significant advantages over many competitors.

Crucially, it is regulated by the FCA. This not only provides UK customers with plenty of protection, but it also shows that the company is run in a transparent and accountable manner.

The site places a heavy emphasis on education and customer care – this is a site that takes its responsibilities to its customers seriously. It’s also a site that has a good range of trading platforms and accounts – no matter what type of trader you are, there’s an account that is suitable for your needs.

Fees are, on average, in the low to medium range. The range of options by which traders can get in touch with customer support is outstanding.

The loyalty program is also an advantage, as a direct discount is applied to every trade, bringing a fast reward. That said, the higher levels do require a substantial amount of investment to qualify, meaning it’s unlikely that rookie traders or those without considerable assets are going to enjoy much of a loyalty reward.

With so many benefits, it’s little wonder that this is a popular, well-established site that has stood the test of time.

Accepted Countries

FXTM accepts traders from Australia, Thailand, the United Kingdom, South Africa, Singapore, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most other countries.

Traders can not use FXTM from the United States, Canada, Japan, Mauritius, Puerto Rico, Korea, Haiti, Suriname, Hong Kong.

Alternatives to FXTM

If you are looking for alternatives to FXTM we have compiled a list of the top 5 brokers that are similar to FXTM below. This list of brokers like JustForex is in order of similarity and only includes companies that accept traders from your location.

  1. OctaFX – OctaFX offers multi-asset trading on a range of platforms and mobile solutions.
  2. FxPesa – FxPesa is a top online broker offering MT4 & MT5 trading across a range of instruments.
  3. Exness – Exness offers a long list of popular financial assets with spreads from 0.1 pips. With a focus on innovation and transparency, they are a growing brand.
  4. HotForex – HotForex is a multi-asset online broker offering powerful trading tools. It also offers a CopyTrading platform.
  5. XM – XM global is a leading Forex and CFD broker offering the MT4 & MT5 platforms

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