FXTM review

Spread from

0.0 pips

EUR/USD spread

Approx. 0.1 pips, Advantage

GBP/USD spread

Approx. 0.3 pips, Advantage

Commission

$3.50 per side / $7 round turn, Advantage

All-in cost, EUR/USD

Approx. 0.8 pips

Spread type

Variable

Overnight swap

Both: swaps charged/credited; swap-free accounts available

Inactivity fee

$10/€10/£10 per month after 3 months inactivity

Deposit fee

Generally none; $3 low-transaction fee can apply below $30

Withdrawal fee

Skrill/Neteller/crypto free; card $3; bank wire $30

Currency conversion

Conversion at applicable exchange rate/charges

Cost is where brokers in the same regulatory bracket actually differ.

A quoted spread from 0.0 pips is a raw-spread figure, which almost always means a separate commission per lot. Compare the two together - a "zero spread" account with a high commission can cost more than a wider spread with none.

Quoted spreads are best-case figures on the most liquid pair, in normal conditions. What you actually pay widens around news and at the session open.

FXTM lists a minimum deposit of $30. Treat it as the cost of opening an account, not the cost of trading one - position sizing on a small balance is what tends to cause damage.

Markets

Forex, Metals, Commodities, Indices, Stocks, ETFs, Cryptocurrencies, Futures, Crosses

Currency pairs

60+

Total instruments

1,000+

Crypto CFDs

Yes

Maximum leverage

1:3000

Execution model

Market execution

Execution speed

82ms

Order types

Market, buy limit, sell limit, buy stop, sell stop, stop-loss, take-profit, trailing stop

Servers

Global financial data-centre infrastructure

Leverage up to 1:3000 is available on this entity. High leverage does not increase your expected return - it increases position size for the same deposit, and shortens the move needed to close you out.

FXTM covers forex, metals, commodities, indices, stocks, etfs, cryptocurrencies, futures, crosses. A wider range matters less than depth in the instruments you actually trade.

Funding options: visa, mastercard, bank wire, skrill, neteller, cryptocurrency and local payment methods. Check withdrawal routes as well as deposit ones - they are often not the same, and the difference only becomes apparent when you try to take money out.

Platforms

MetaTrader 4, MetaTrader 5, FXTM App

Own platform

Yes, FXTM App

Mobile app

Both proprietary and third-party

Browser trading

Yes

Automated trading

Yes; MT4/MT5 Expert Advisors, automated trading and backtesting

Copy trading

Yes, FXTM Invest

Indicators

30+ MT4; 38+ MT5

Third-party tools

Trading Central, FX Blue tools, VPS

API access

Yes, institutional/FIX API connectivity

MetaTrader 4 remains the most widely supported platform for expert advisors. If you rely on an existing EA, this is usually the deciding factor.

MetaTrader 5 handles more asset classes and order types than MT4, but expert advisors are not compatible between the two - an MT4 EA will not run on it.

Regulated by

FSC Mauritius (C113012295); FSCA South Africa (50320); CMA Kenya (135)

Regulator tier

Tier 2

Register entry

FSC Mauritius register

Client money segregated

Yes

Held at

Top-tier banking institutions

Negative balance protection

Yes

Compensation scheme

No statutory investor compensation scheme

Audited by

Independent external auditors

Not available to

United States, Mauritius, Japan, Canada, Haiti, Iran, Suriname, North Korea, Puerto Rico, occupied area of Cyprus, Quebec, Iraq, Syria, Cuba, Belarus, Myanmar, Russia, India, United Kingdom

Across a hundred brokers, the licence is what separates the field fastest.

FXTM's licence is offshore (FSC). Offshore entities typically offer higher leverage and lighter reporting, and compensation schemes do not apply - the trade-off is protection, not price.

The FSCA licenses derivative providers in South Africa without a fixed retail leverage cap, so headline leverage is often higher than an FCA or ASIC entity may offer.

An FSC licence (Mauritius or Belize, depending on the entity) is an offshore authorisation with lighter reporting duties than a tier-one regulator.

Client money is held separately from the firm's own money, at Top-tier banking institutions. That separation is what makes your balance recoverable if the company fails, rather than part of the pool its creditors divide up.

Negative balance protection applies, so a losing position cannot take the account below zero and leave you owing the broker money.

Covered by No statutory investor compensation scheme, which pays eligible clients up to its limit if the firm fails owing client money.

Check the licence yourself: the Mauritius FSC register of licensees, the FSCA list of regulated entities.

Minimum deposit

$30

Account types

Micro, Edge, Rewards, Rewards Plus, Advantage, Advantage Stocks, Demo

Account currencies

USD, EUR, GBP, AED, USC/EUC cent currencies on Micro

Islamic account

Yes

Demo account

Yes

Professional account

Yes

Minimum trade size

0.01 lots

Time to open

Typically a few minutes

FXTM runs 7 account types. More choice is not automatically better: the tightest headline spread almost always sits on the account that also charges a commission, so the comparison that matters is the two added together.

Base currencies: USD, EUR, GBP, AED, USC/EUC cent currencies on Micro. Holding the account in the currency you fund it with avoids a conversion charge on every deposit and withdrawal - a cost that never shows up in a spread comparison.

The smallest position is 0.01 lots. For anyone starting carefully this matters more than the minimum deposit, because it sets the least you can put at risk on a single trade.

A demo account is available. Worth using for the platform rather than the results: fills are simulated, so it tells you how the software behaves but very little about execution.

Deposit methods

Visa, Mastercard, bank wire, Skrill, Neteller, cryptocurrency and local payment methods

Withdrawal methods

Visa/Mastercard, bank wire, Skrill, Neteller, cryptocurrency and local payment methods

Deposit time

Instant for most cards/e-wallets; bank transfers generally 1-5 business days

Withdrawal time

Typically processed within 24 hours; arrival depends on payment method

Minimum withdrawal

$5

Local payment methods

Local bank transfers, mobile payments and country-specific payment providers

Withdrawals are stated at Typically processed within 24 hours; arrival depends on payment method, against Instant for most cards/e-wallets; bank transfers generally 1-5 business days for deposits. A gap between the two is normal and not in itself a warning sign - identity checks are a legal obligation, not obstruction. What is worth noticing is a withdrawal that keeps meeting new conditions after those checks are done.

Withdrawal routes: visa/mastercard, bank wire, skrill, neteller, cryptocurrency and local payment methods. Money is usually returned by the route it arrived on, so the deposit method you pick is in effect the withdrawal method you are picking too.

The minimum withdrawal is $5 - relevant if you intend to fund the account lightly, since it sets the smallest amount you can take out at a time.

Support hours

Monday-Friday 03:00-20:00 UTC; Saturday-Sunday 07:00-11:00 UTC

Contact channels

Live chat, phone, online support form

Languages

Multilingual

Telephone

+44 20 3734 1025

Email

info@fxtm.com

Live chat response

Typically under 2 minutes

Education

Extensive: educational articles, videos, webinars, tutorials, trading guides and beginner/advanced education

Research

Market analysis, trading signals, technical/fundamental commentary and trading tools

Support hours are Monday-Friday 03:00-20:00 UTC; Saturday-Sunday 07:00-11:00 UTC. Check they overlap the sessions you actually trade - cover that ends with the local business day is no use during an overnight move.

Reachable by live chat, phone, online support form. A published telephone number is the one channel that is hard to fake and hard to ignore, so whether there is one says more than the number of channels does.

Languages: Multilingual. Being able to raise a complaint in your own language is worth more than it appears, because complaints are where precision matters most.

Education: extensive: educational articles, videos, webinars, tutorials, trading guides and beginner/advanced education. Treat broker-published material as an introduction rather than as advice - it is produced by a firm whose revenue rises when you trade more.

Legal entity

Exinity Limited

Company number

C119470 C1/GBL

Headquarters

Ebene, Mauritius

Founded

2011

Publicly listed

No

Parent company

Exinity Group

Employees

500+

Also trades as

FXTM; ForexTime

FXTM has been trading for around 15 years, through at least one full market cycle. Longevity guarantees nothing on its own, but a firm that came through 2008 and 2015 has been tested in a way a recent entrant has not.

The contracting entity is Exinity Limited. This is the company you would actually have a relationship with, and it is worth checking that it is the same one named on the licence you are relying on: large brokers commonly operate several, and they are not equally protected.

Part of Exinity Group. A parent adds resources, but the protections that apply to you are the ones attached to the entity that holds your account, not to the group.