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4.2
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83% of retail CFD accounts lose money

Summary

Recommended for forex traders familiar with the MetaTrader 4 platform

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83% of retail CFD accounts lose money

FXTM or ForexTime was founded in 2011 and is a global CFD and FX broker. It is regulated by several financial authorities, including the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).

FXTM is considered safe because it is regulated by the top-tier FCA.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% 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.

Overall Rating
4.2
Fees
4.0
Account opening
5.0
Deposit and withdrawal
4.0
Trading platform
3.0
Markets and products
2.0
Research
4.0
Customer service
5.0
Education
5.0

FXTM pros and cons

FXTM customer service gives fast and relevant answers. They can also be contacted in many 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 high stock 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.

Pros Cons
Superb customer service High stock CFD fees
Great educational tools Inactivity and withdrawal fees
Digital and fast account opening Limited product portfolio
FXTM main features and highlights
🗺️ Country of regulation Cyprus, UK, Mauritius
💰 Trading fees class Average
💰 Inactivity fee charged Yes
💰 Withdrawal fee amount $3
💰 Minimum deposit $500
🕖 Time to open an account 1 day
💳 Deposit with credit card Available
👛 Depositing with electronic wallet Available
💱 Number of base currencies supported 4
🎮 Demo account provided Yes
🛍️ Products offered Forex, CFD, Crypto
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83% of retail CFD accounts lose money
Gergely Korpos

Gergely Korpos

Co-founder, CPO

Author of this review

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Everything you find on Brokerchooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

FXTM review
Fees

4.0
FXTM's trading fees are low for stock index CFD fees, while average or low for forex. On the negative side, the stock CFD fees are high.
Pros Cons
Low fees for stock index CFDs High stock CFD fees
Low EURCHF and EURGBP fees
FXTM fees snapshot
Assets Fee level Fee terms
S&P 500 CFD Low The fees are built into spread. 1.4 is the spread cost
Europe 50 CFD Low The fees are built into spread. 3.3 is the spread cost
EURUSD Average ECN account pricing: only opening a position is charged and the commission is based on your account balance and monthly trading volume. There is also 0.6 pips spread cost.
Inactivity fee Low $5 per month after 6 months of inactivity

We ranked FXTM's fee levels as low, average or high based on how they compare to those of all reviewed brokers.

To get things rolling, let's go over some lingo related to broker fees. What you need to keep an eye on are trading fees and non-trading fees.

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 spreads, commissions and financing rates are the most important fees.

We also compared FXTM's fees with those of two similar brokers we selected, XM and XTB. 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 low.

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
  • Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP

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 low stock index CFD fees, while high stock CFD fees.

CFD fees for a $2,000 long position held for one week
  FXTM XM XTB
S&P 500 CFD benchmark fee $1.8 $2.4 $2.0
Europe 50 CFD benchmark fee $2.5 $2.4 $2.2
Apple CFD benchmark fee $17.0 $3.4 $17.9

Forex fees

FXTM forex fees are average: in most cases, it is higher than either at XM or XTB. 

Forex benchmark fees of a $20,000 30:1 long position held for one week
  FXTM XM XTB
EURUSD benchmark fee $17.8 $17.1 $15.0
GBPUSD benchmark fee $15.5 $13.8 $11.1
AUDUSD benchmark fee $12.2 $13.9 $10.0
EURCHF benchmark fee $4.4 $9.1 $6.6
EURGBP benchmark fee $11.5 $12.2 $9.9

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 balance Trading volume (in million USD)
  Less than 100 100 - 150 150 - 250 Over 250
$0 - 2,999 20 19 18 15
$3,000 - 4,999 19 18 17 14
$5,000 - 19,999 18 17 16 13
$20,000 - 49,999 17 15 13 11
$50,000 - 199,999 16 13 11 9
$200,000 - 499,999 14 12 10 8
$500,000 - 999,999 13 10 8 6
$1,000,000 - 4,999,999 12 9 6 4
Over $5,000,000 Determined on an individual basis

Real stock fees

If you are a non-EU client, you can also trade with real stocks from the NYSE and NASDAQ stock exchanges.

The stock fees comprise a small spread and a commission. The commission is tiered by volume, charged only for opening a position and based on this formula: volume * Commission * 2.

FXTM stock commission
Volume (lot*) Commission (per lot)
0.01 - 5.00 $15
5.01 - 20.00 $25
20.01 - 100.00 $30
100.01 - 150.00 $55
150.01 - 250.00 $80
250.01 - 500.00 $135
Over 500.00 $190

*One lot means 100 shares, therefore, if you want to trade one share, you have to trade with 0.01 lot.

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 XTB
Account fee No No No
Inactivity fee Yes Yes No
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.

FXTM withdrawal fees
Withdrawal method EU countries UK Other countries
Credit cards €2 / $3 / £2 €2 / $3 / £2 €2 / $3 / £2
Bank wire transfer €20 / £25 €10 / £5 €30
Deutsche Handelsbank transfer €20 / $40 / £25 NA NA
Neteller, Skrill Free Free Free
China Union Pay NA NA Free
Yandex.money, QIWI 1.5% NA NA
Crypto (BTC, ETH, LTC, DASH) 1% (only Bitcoin via Skrill) NA 1%
VLOAD NA NA 6%
Konnexona, WebMoney, Online Banking Malaysia / Indonesia / Vietnam / Thailand NA NA 2%
PerfectMoney, Fasapay, DixiPay NA NA 0.5% (max $5 for DixiPay)
DusuPay NA NA $1
Ngangluong NA NA 1.1% + $0.05
Nigerian Local Bank Wire Transfer NA NA 1.5%

China Online Banking

CashU

GlobePay

Algerian / Afghani / Bangladeshi / Egypt / Ghanan / India / Indonesian / Iraq / Kenyan / Laos / Malaysian / Pakistani / Palestinian / Syrian / Tanzanian Local Transfer

TC Payment

Local Exchange House

NA NA Free

FXTM review
Account opening

5.0
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
User-friendly

Can you open an account?

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83% of retail CFD accounts lose money

FXTM accepts clients all over the world. There are only a few exceptions, e.g. you can't open an account if you're from the USA, Japan, etc.

What is the minimum deposit at FXTM?

The required FXTM minimum deposit is different for the various account types. We tested the ECN account, which requires a $500 minimum deposit.

Account types

There are a lot of 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 countries Pricing Minimum deposit Trading platforms Available products
Standard Account All countries Higher spread, no commission $100 MT4 / MT5 Forex, commodity / stock index CFD
Cent / Micro Account All countries Higher spread, no commission $5-10 MT4 Forex, commodity CFD
Shares Account EU countries, incl. UK Higher spread, no commission $100 MT4 Stock CFD
ECN Account All countries Commission and lower spread $500 MT4/MT5 Forex, commodity / stock index CFD
ECN Zero Account EU countries, incl. UK Higher spread, no commission $200 MT4/MT5 Forex, commodity / stock index CFD
FXTM Pro Account All countries Lower spread, no commission $25,000 MT4/MT5 Forex, commodity / stock index CFD

Spot metals / real stock (only available for non-EU and non-UK clients)

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. 

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. Add your email address, name, and country of residence. You need to give your phone number as well, where FXTM will send a PIN code.
  2. Add more personal information, like date of birth and level of education.
  3. Give your current address.
  4. Answer some questions about your financial background and experience.
  5. Fill out a questionnaire about your financial knowledge.
  6. Select the account type you wish to open.
  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

FXTM review
Deposit and withdrawal

4.0
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.

This selection is almost the same as XTB's but lags behind XM's.

Base currencies at FXTM vs similar brokers
  FXTM XM XTB
Number of base currencies 4 7 4

Why does this matter? For two reasons. First, if you fund your account in the same currency as your bank account, you are not charged a currency conversion fee. Second, if you trade assets in the same currency as your account base currency, you don't have to pay a conversion fee.

A convenient way to save on currency conversion fees is opening a multi-currency bank account. Revolut and Transferwise both 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.

Compare digital banks

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 XTB
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
Cryptocurrencies Yes (through Skrill) No Yes
Western Union Quick Pay Yes No No
Alfa-Click, Yandex.Money, QIWI Yes No Yes
VLOAD, WebMoney, Perfectmoney, Fasapay, TC Payment, GlobePay, Ngangluong, DixiPay, DusuPay, CashU, Konnexone No No Yes
Algerian / Afghani / Bangladeshi / Egypt / Ghanan / Indonesian / Iraq / Kenyan / Laos / Malaysian / Pakistani / Palestinian / Tanzanian 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 XTB
Bank Transfer Yes Yes Yes
Credit/Debit card Yes Yes No
Electronic wallets Yes Yes No

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
Bank wire transfer €20 / £25 €10 / £5 €30
Deutsche Handelsbank transfer €20 / $40 / £25 NA NA
Neteller, Skrill Free Free Free
China Union Pay NA NA Free
Yandex.money, QIWI 1.5% NA NA
Crypto (BTC, ETH, LTC, DASH) 1% (only Bitcoin via Skrill) NA 1%
VLOAD NA NA 6%
Konnexona, WebMoney, Online Banking Malaysia / Indonesia / Vietnam / Thailand NA NA 2%
PerfectMoney, Fasapay, DixiPay NA NA 0.5% (max $5 for DixiPay)
DusuPay NA NA $1
Ngangluong NA NA 1.1% + $0.05
Nigerian Local Bank Wire Transfer NA NA 1.5%

China Online Banking

CashU

GlobePay

Algerian / Afghani / Bangladeshi / Egypt / Ghanan / India / Indonesian / Iraq / Kenyan / Laos / Malaysian / Pakistani / Palestinian / Syrian / Tanzanian Local Transfer

TC Payment

Local Exchange House

NA NA Free

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 withdraw money from FXTM 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.

Compare to other brokers

FXTM review
Web trading platform

3.0
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
FXTM platforms to choose from
Trading platform Score Available
Web 3 / 5 stars Yes
Mobile 4 / 5 stars Yes
Desktop 3 / 5 stars Yes

FXTM doesn't have its own self-developed trading platform, it uses third-party platforms: MetaTrader 4 and MetaTrader 5. 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
Arabic Bulgarian Chinese Croatian Czech Danish
Dutch     English Estonian Finnish French German
Greek Hebrew Hindi Hungarian Indonesian Italian
Japanese Korean Latvian Lithuanian Malay Mongolian
Persian Polish Portuguese Romanian Russian Serbian
Slovak Slovenian Spanish Swedish Tajik Thai
Traditional Chinese Turkish Ukrainian Uzbek Vietnamese  

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 when 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

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.

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FXTM review
Mobile trading platform

4.0
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 and MetaTrader 5 mobile trading platforms. Similarly to the web trading platform, we tested the MetaTrader 4 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
Arabic Chinese (Simplified) Chinese(Traditional) Czech English
French German Greem Hindi Indonesian
Italian Japanese Korean Polish Portuguese
Portuguese (Brazil) Russian Spanish Thai Turkish
Ukrainian Vietnamese      

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.

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83% of retail CFD accounts lose money

FXTM review
Desktop trading platform

3.0
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)
Price alerts

You can use MetaTrader 4 and 5 desktop trading platforms. We tested the MetaTrader 4 desktop trading platform.

It has the same design, is available in the same languages, offers the same order types, 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

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83% of retail CFD accounts lose money

FXTM review
Markets and products

2.0
FXTM's product selection covers forex CFDs and cryptos. Non-EU clients can also trade with real stocks. On the negative side, it lacks ETFs, mutual funds, bonds, options, and futures.

FXTM has a good selection of forex products. The range of stock index and commodity CFD products offered is average, while the number of stock CFDs is low compared to competitors. ETF CFDs and bond CFDs are not available, but you can trade with cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Ripple. 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. 83% 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 XM XTB
Currency pairs (#) 48 57 49
Stock index CFDs (#) 11 18 42
Stock CFDs (#) 166 1,200 1,700
Commodity CFDs (#) 6 15 18
Cryptos (#) 4 5 25

EU clients can't lower the default leverage level of the products. However, we think this is something you should be in control of.

Non-EU clients can change the size of leverage based on their risk appetite. The maximum leverage size varies based on the product and the volume of your trade, as well as the account type you choose.

Real stocks

FXTM offers real stocks for non-EU clients. The real stock selection lags behind that of XTB, while similar to XM's.

  FXTM XM XTB
Stock markets (#) 2 4 17

The available stock markets are NYSE and NASDAQ.

Social trading

All clients, except for UK clients, can use FXTM Invest, a social trading service

You can choose 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
Research

4.0
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
User-friendly
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.

Charting

FXTM has OK charting tools. These charting tools can be found in the MetaTrader trading platforms.

You can use 31 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 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.

Compare research pros and cons

FXTM review
Customer service

5.0
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, German, 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

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83% of retail CFD accounts lose money

FXTM review
Education

5.0
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

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83% of retail CFD accounts lose money

FXTM review
Safety

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

Is FXTM regulated? Yes, it is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) and the Financial Services Commission of Mauritius (FSCA).

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 clients Protection amount Regulator Legal entity
EU countries (except UK) €20,000 Cyprus Securities and Exchange Commission (CySEC) ForexTime Limited
United Kingdom £85,000 Financial Conduct Authority (FCA) ForexTime UK Ltd.
International clients No protection Financial Services Commission of Mauritius Exinity Ltd.

FXTM provides negative balance protection for forex spot and CFD trading, but only for retail clients from the European Union. Professional and non-EU clients are not covered with any negative balance protection.

Background

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.

Find your safe broker

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 stock CFD fees, like 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.

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83% of retail CFD accounts lose money

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83% of retail CFD accounts lose money
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