FXTM Review 2025

Is FXTM regulated?

Yes, it is regulated by multiple authorities:

• the UK's Financial Conduct Authority (FCA)
• and the Financial Services Commission of the Republic of Mauritius (FSC)

The ForexTime Limited entity is also licensed by the Financial Sector Conduct Authority (FSCA) of South Africa.

Note: As of March 2021, FXTM ended retail operations in the EEA under CySEC regulation. Only professional clients will be able to use FXTM's services in this region.

Is FXTM safe?

To be certain that a brokerage is safe, we highly advise that you check two facts:

• how you are protected if something goes wrong
• the background of the broker.

How you are protected

Protection matters for you because the investor protection amount and the regulator differ from entity to entity.

*There's however a protection provided by an international organization in which FXTM is a member. FXTM's Exinity Ltd. entity is a member of The Financial Commission, which aims to resolve disputes within the financial services industry. It offers a maximum €20,000 protection but it is not a certain guarantee, and not all clients are eligible as not the entire client base is covered. Because it is not a standard investor protection scheme, it may be less effective, therefore we excluded it from our table.
FXTM provides negative balance protection for forex spot and CFD trading.

Our brokerage experts put together a comprehensive guide on the safety profile of FXTM.

Background

FXTM is based in Cyprus and was established in 2011. The longer the track record a broker has, the more proof we have that it has successfully survived previous financial crises.

Find your safe broker

Account base currencies

At FXTM, you can choose from the following 3 base currencies: EUR, GBP, USD.

This selection falls behind competing brokers. Both XM and Tickmill offer more base currencies.

Why does this matter? For two reasons. If you fund your trading account in the same currency as your bank account or you trade assets in the same currency as your trading account base currency, you won't have to pay a conversion fee.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank. These usually 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.

Deposit fees and options

FXTM charges no deposit fees.

Here's all you need to know about minimum deposit requirements and depositing money at FXTM.

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 supports the following electronic wallets:

The availability of these 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.

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.

Read our guide containing all key info on available withdrawal methods and related fees at FXTM.

You can only withdraw money to accounts in your name.

If you use credit/debit cards or electronic wallets, you can only withdraw up to the amount you have deposited via the same method. Therefore, you have to withdraw any profit by using a bank transfer.
The withdrawal fee varies based on your country of residence, the method you use, and the currency you make the withdrawal in.

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 do it 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.

Can you open an account?

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88.66% of retail CFD accounts lose money

Note: As of March 2021, FXTMended 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.

Otherwise, FXTM accepts clients from all over the world, but there are a few exceptions.

Read our separate article on how to get your account started with FXTM.

What is the minimum deposit at FXTM?

The required FXTM minimum deposit is $200.

The minimum deposit is $200 for all the 3 accounts.

Account types

There are three account types you can choose from. The account types differ in pricing, the minimum deposit, the available trading platform, and the products you can trade.

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.
In the review, we tested the Advantage Account.

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

The mobile trading platform is available in several languages.

Changing the language is a bit tricky on Android devices. You can do it only if you change the default language of your mobile.

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.

Login and security

FXTM provides only a one-step login for its mobile platform. A two-step authentication would be more secure and adding this feature should be high on any company's list of security changes.

You can't log in using biometric 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.

Placing orders

You can use the following order types on the mobile trading platform:

• Market
• Limit
• Stop

These are the same order types and order time limits as the ones available on the web trading platform.

There are also order time limits you can use:

• Good 'til canceled (GTC)
• Good 'til time (GTT)

Alerts and notifications

You cannot set alerts and notifications on the FXTM mobile platform.

However, you can set alerts via the desktop trading platform. It would be much easier if you could set these notifications directly on the mobile trading platform.

Our analysts personally tested FXTM's mobile trading platform; read the FXTM mobile app review for a detailed verdict on its performance and features.

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88.66% of retail CFD accounts lose money

You can use the MetaTrader 4 desktop trading platform.
It has the same design, is available in the same languages, offers the same order types (plus Trailing Stop), 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 alerts on the desktop trading platform. To set these notifications, you have to add your email address and mobile MetaQuotes ID (you can find it in the MT4 app's settings) by going to 'Tools' and then 'Options.'

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88.66% of retail CFD accounts lose money

FXTM's forex product selection lags behind some of its competitors.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 88.66% 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.

The FCA banned the sale of crypto derivatives to UK retail consumers as of January 6, 2021.

You can change leverage levels at FXTM, which is great.
Changing the leverage is a very useful feature when you want to lower the risk of your trade. Be careful with forex and CFD trading, as preset leverage levels may be too high.

Real stocks and ETFs

FXTM offers commission-free real stocks for non-EU clients.

The available stock markets are NYSE, NASDAQ and the Hong Kong Stock Exchange.

Social trading

All clients except for those in the UK and the EU can use FXTM Invest, a social trading service. This means that if you are onboarded under Mauritius regulation (FXTM's Exinity Ltd entity) you'd be able to use this feature.
You can decide 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.

We recommend FXTM for forex traders familiar with the MetaTrader platform.

Below you can find links to all aspects of FXTM in this comprehensive collection.

Lower fees, lower costs?

We detailed this in our FXTM fees article.

What about the minimum deposit?

Our ultimate guide to the FXTM minimum deposit is updated regularly.

How to start your FXTM account?

Look no further than our evaluation of the FXTM account opening.

How's their trading app?

Here's our expert view after checking the FXTM trading app.

Is the quality of customer service satisfactory?

All you need to know about the FXTM customer service.

Legit or scam?

Is FXTM legit features all the key aspects you need to look at to see if a broker is safe and legit.

Free or premium? Or both?

A glance at actual costs and whether FXTM is really free.

Is this broker good for beginners?

We checked it in Is FXTM good for beginners.

Should you buy your silver bullets on FXTM?

Research for silver bugs in the Silver buy on FXTM guide

I want to trade options, are they available at FXTM?

We explored the topic in Can you trade options on FXTM?

What is the minimum account balance at FXTM?

Check out the current account balance requirements at FXTM in our What is the minimum account balance at FXTM article.

Looking for commission and fees data for FXTM?

We collected them in FXTM commission and fees.

How do you withdraw money from FXTM?

We tested it and collected the options and costs in How to withdraw money on FXTM.