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FXTM Review 2024

Written by
Krisztián G.
Fact checked by
Adam N.
Updated
1w ago
Key data
Fees
Safety
Deposit and withdrawal
Account opening
Mobile app
Desktop platform
Product selection
Regulated and trusted. Tested via live trading.
2,465 people chose this broker
Not available in United States; see best alternatives

Why choose FXTM

FXTM is an international CFD and forex broker, regulated by the UK's FCA, CySEC of Cyprus and the Mauritian FSC. Note that as of March 2021, FXTM ended retail operations in the European Economic Area (EEA) under CySEC regulation. Only professional clients will be able to use FXTM's services in this region.

FXTM has low CFD and forex fees, its account opening is fast and fully digital, and customer service gives mostly fast and relevant answers.

On the negative side, there is an inactivity fee and a withdrawal fee. Education services also leave a lot to be desired, and the product portfolio is limited.

BrokerChooser gave FXTM a 4.1/5 rating based on analyzing 600+ criteria and testing via opening a live account.

  • Low fees
  • Digital and fast account opening
  • Good customer service

Explore the key metrics of FXTM

Overall score
4.1/5
Minimum deposit
$10
FX fee
Low
Index CFD fee
Low
Withdrawal fee
$3
Account opening
1 day
Visit FXTM

75% of retail CFD accounts lose money

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See how the best brokers in the United States compare to FXTM

EURUSD spread
Usual spread in pips

Fees

Score: 4/5
FXTM's trading fees are low both for forex and CFDs. Non-trading fees are also generally low, although there is a withdrawal fee and a low inactivity fee.
  • Low trading fees
  • Low non-trading fees
  • Low forex and CFD fees

We compared FXTM's fees with two similar brokers we selected, XM and Tickmill. These competitors were selected based on objective factors like products offered, client profile, fee structure, etc. See a more detailed comparison of FXTM alternatives.

Low FX fees

FXTM charges a forex commmission: Commission is based on your account balance and monthly trading volume. Spread costs come on top of this, e.g. the EUR/USD spread is 0.2.

Broker
EURUSD spread
FX commission per lot
FXTM
0.2
Commission is based on your account balance and monthly trading volume
XM
0.1
$3.50 commission per lot per trade on XM Zero accounts
Tickmill
0.2
$2.00 commission per lot per trade
FXTM forex spreads and commissions

Low index CFD fees

All index CFD fees are built into the spread. The spread for S&P 500 index CFDs is 1.0.

Broker
S&P 500 CFD spread
FXTM
1.0
XM
0.5
Tickmill
0.4
FXTM index CFD spreads and commissions

Low inactivity fee, average withdrawal fee

Broker
Inactivity fee
Withdrawal fee
FXTM
$3
XM
$0
Tickmill
$0
FXTM inactivity, withdrawal and other fees

The withdrawal fee varies based on your country of residence, the method you use, and the currency you make the withdrawal in. Check the detailed table below in the Deposit and Withdrawal chapter.

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.
  • Negative balance protection
  • Regulated by top-tier FCA
Read more

Deposit and withdrawal

Score: 3.9/5
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.
  • Credit/Debit card available
  • No deposit fee
  • Quick deposit and withdrawal - within 3 days
Read more

Account opening

Score: 5/5
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.
  • Fast
  • Fully digital
  • User-friendly
Read more

Mobile app

Score: 3.3/5
FXTM has an OK mobile trading platform, offered by MetaTrader 4. It is well-designed and user-friendly. However, it lacks a safe login.
  • User-friendly
  • Good search function
  • Price alerts
Read more

Desktop platform

Score: 3.4/5
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.
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Price alerts
Read more

Product selection

Score: 2.5/5
FXTM's basic product selection covers forex and CFDs, while non-EU clients can also trade with real stocks. On the negative side, the product lineup lacks ETFs, mutual funds, bonds, options, and futures.
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“I recommend FXTM for forex traders familiar with the MetaTrader platform.”

FAQ

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Author of this review

Krisztián Gátonyi

Method-Man | Forex • Market Analysis • Stock Market

I have 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. I'm actively involved in reviewing the 100+ brokers listed on our site. I personally open accounts with real money, execute trades, test customer services. I hold an MSc in International Business from the University of Middlesex. My purpose is to help people find the best investment provider.

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.

Visit FXTM 75% of retail CFD accounts lose money

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