Advertising DisclosureWe're committed to the highest standards of editorial integrity. Still, it's crucial to recognize that some products we mention come from our partners.

Here's an insight into how we make money. While we strive to be comprehensive, the compensation we receive can influence the products, companies, or services we showcase and review. Not all available options may be featured on this page.
FXTM logo

FXTM Review 2024

By:
Dan Blystone
Updated: Jan 21, 2024
Overall Rating
4.3
  • Trust
    4.3
  • Fees
    4.1
  • Platforms and Tools
    4.5
  • Tradable Instruments
    3.5
  • Customer Support
    4.3
  • Research
    5
  • Deposit and Withdrawal
    4.2
  • Account Types and Terms
    4.9
  • Education
    3.8
  • How Did We Test and Rate This Broker?
    When trading forex and CFDs, understanding a broker's strengths and weaknesses is essential. We developed a proprietary rating system, which is the result of extensive research and hands-on evaluation by our expert reviewers. With a rigorous approach, our reviewers manually assess each broker, investing more than 50 hours per review, checking and testing the broker while analyzing over 250 variables to simplify the broker selection process for you. The categories we evaluate include trustworthiness, trading platforms, customer support, regulatory oversight, spreads, fees, the variety of instruments offered, education, and research tools. This unique rating system is specifically developed to ensure that the assessment is based on firsthand knowledge and experience. By dedicating a significant amount of time to each review, our team of experts can provide in-depth insights and help you make well-informed decisions when choosing the broker that best suits your trading goals.
    Chart

    Our Take on FXTM

    Established in 2011, FXTM is a global forex and CFD broker headquartered in Limassol, Cyprus. FXTM offers trading in forex and CFDs on commodities and indices via the MetaTrader platform and the FXTM Trader App.

    FXTM is regulated in multiple jurisdictions, and all client funds are segregated from the firm’s assets and held in top-tier banks. FXTM has offices in Europe, Africa, Asia, and Latin America and has served 4 million clients across 180 countries, according to the company website.

    Recommended in 8 best broker guides: 
    Forex | CFD | Zero Spread | Beginners | Crypto | Regulated | MT4 | Oil Trading

    FXTM Pros and Cons

    Pros Cons
    • FCA, CySEC regulated.
    • Strong educational materials.
    • Choice of account types.
    • Dedicated account representative.
    • VPS hosting.
    • Withdrawal fees.
    • Inactivity fees.
    • Limited range of tradable instuments.

    FXTM Highlights for 2024

    • We judged fees to be roughly average for the industry. More competitive spreads are available via the Advantage account type.
    • Overseen by two top-tier regulators (FCA and CySEC) we rate FXTM as a relatively safe broker.
    • Clients can choose between the popular MetaTrader 4 and MetaTrader 5 platforms for desktop and web. The intuitive FXTM Trader mobile app allows clients to access the markets on the move.
    • FXTM performed about average in the education category with in-depth articles, video tutorials, and a section on trading strategies with clear-cut examples.
    • We found room for improvement in the range of available trading instruments. CFDs on stocks are no longer available for UK clients.
    • Beginners can benefit from a dedicated account representative and demo accounts.
    • Advanced traders can take advantage of custom MT4 Indicators, VPS Trading, and Professional designation, granting access to greater leverage.

    What Sets FXTM Apart?

    Clients can choose from among several account types to suit different trader profiles. FXTM provides clients with a dedicated support representative. FXTM also distinguishes itself by being overseen by two top-tier regulators and by offering a proprietary mobile app.

    Who is FXTM for?

    With a demo account, reliable customer service, and in-depth educational resources, FXTM is a solid choice for traders new to the markets. Experienced traders can take advantage of the advanced features of MetaTrader and lower trading costs through the Advantage account type.

    In our review of FXTM, we focused on the services provided by Exinity UK Ltd. (forextime.com/uk), regulated by the UK Financial Conduct Authority (FCA). We conducted our tests using the MetaTrader 4 platform. Some features and services may vary depending on where you reside.

     

    FXTM Main Features

    ☑️ RegulationsCySEC (Cyprus), FSCA (South Africa), FCA (United Kingdom), FSCM (Mauritius)
    🗺 Supported Languages
    Turkish, Korean, Hebrew, English, Danish, Russian, French, Indonesian, Latvian, Thai, Slovak, Czech, Arabic, Estonian, Hungarian, Bulgarian, Italian, Spanish, Chinese, Croatian, Farsi, Japanese, Swedish, Serbian, Malaysian, German
    💰 ProductsCurrencies, Stocks, Indices, Commodities
    💵 Min Deposit$500
    💹 Max Leverage1:30 (CySEC ), 1:500 (FSCA), 1:30 (FCA), 1:3000 (FSCM)
    🖥 Trading Desk TypeNo dealing desk, ECN, Market Maker
    📊 Trading PlatformsMT5, MT4, Web Platform, Mobile Platform
    💳 Deposit OptionsLocal Deposit, Maestro, Wire Transfer, Skrill, Neteller, Credit Card, Visa, Mastercard, GooglePay, PayRedeem
    💳 Withdrawal OptionsWire Transfer, Neteller, Skrill, Credit Card, PerfectMoney, Maestro, Visa, Mastercard, PayRedeem, GlobePay
    🤴 Demo AccountYes
    🗓 Foundation Year2011
    🌎 Headquarters CountryCyprus
    Risk DisclosureCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    FXTM Full Review

    Trust

    4.3
    How Did We Test the Broker's Trustworthiness?
    Assessing a broker's trustworthiness with your funds is vital. To help you make the right decision, we carefully checked each broker's regulatory license and examined how well they protect traders. Moreover, we looked at the broker's stability by studying their business history, corporate structure, and industry experience. Finally, we thoroughly reviewed all of the broker's legal documentation, including terms, conditions, and fees, and evaluated their transparency based on our analysis. Our hands-on approach ensures that even novice traders have the knowledge they need to make smart decisions.
    trust chart

    FXTM is regulated in multiple jurisdictions across the globe. The UK entity of FXTM is regulated by the Financial Conduct Authority (FCA). UK clients benefit from negative balance protection, segregated funds, and a compensation fund in the event of broker insolvency. We judged that FXTM has a high level of transparency.

    Exinity UK Ltd. (FXTM) on the FCA register

    This section will cover how the different entities of FXTM are regulated and how this impacts you as a trader. We rate regulators on a scale of 1 to 3, with 1 reflecting the highest level of trust.

    Why is it important to know where your broker subsidiary (entity) is regulated?

    Different regulators provide different levels of protection. For example, FXTM clients in the United Kingdom benefit from the oversight of the FCA. The FCA requires that clients have negative balance protection, which means they cannot lose more than their deposit.

    In addition, when trading with a broker authorized by the FCA, client funds are protected by the Financial Services Compensation Scheme (FSCS). The FSCS protects investments of up to £85,000 if a firm becomes insolvent. By contrast, a trader working with a broker entity regulated offshore would not necessarily have these benefits.

    The table below lists the protections and benefits by the entity, regulator, and region.

    Entity Exinity UK Ltd ForexTime Ltd Exinity Limited
    Country/Region UK EU & South Africa Mauritius
    Regulation FCA CySEC & FSCA FSC
    Segregated Funds Yes Yes Yes
    Negative Balance Protection Yes Yes No
    Compensation Scheme Yes (FSCS Up to £85,000) Yes, for EU (ICF Up to €20,000) No
    Standard Leverage 1:30 1:30 1:1000

    Regulatory requirements are subject to change. We gathered the data listed above in June 2022.

    Stability and Transparency

    In our tests for the Trust category, we also cover factors relating to stability and transparency. Here, we focus on how long the broker has been in business, the size of the company, and how transparent they are in terms of readily available information.

    FXTM launched in 2011, reflecting a substantial operating history. According to its LinkedIn page, the company is headquartered in Limassol, Cyprus. The FXTM website states that the group of companies has over 800 employees in more than ten offices worldwide.

    In our research, FXTM showed a good level of transparency in its regulatory status, with a listing of all entities and regulators in the website’s footer.

    Spreads and commissions are outlined on the Account Comparison page. The Client Agreement can be found on the Account Opening Agreements page. The background and history of the company are broadly outlined on the About Us page. Overall, we rate FXTM as having a high level of transparency, better than average for the industry.

    Fees

    4.1
    How Did We Test the Broker's Fees and Commissions?
    Broker commissions and fees can be challenging to understand. To simplify this for you, we carefully examined all the broker's fee-related documentation and presented it in a clear, easy-to-understand format. Furthermore, we conducted hands-on tests on spreads and commissions for the most common instruments during both London and New York trading sessions. We then compared these real-time test results to the market benchmark we've established through our extensive experience evaluating the industry.
    fees chart

    Trading costs at FXTM vary by account type. I assess that the Advantage account offers the most competitive spreads but also charges commissions. Swap fees and inactivity fees are at a standard level.

    Trading Fees

    We tested the spreads at FXTM across different asset classes using the MetaTrader 4 platform. The test was performed at 8 AM GMT and 3 PM GMT on June 10th, 2022. 8 AM GMT is the London open when there is a high level of liquidity in the forex market and tighter spreads in currency pairs. 3 PM GMT is during the New York trading session.

    Instrument Spread AM Spread PM
    EUR/USD 2 Pips 2 Pips
    GBP/JPY 6.2 Pips 5.2 Pips
    Gold 36 Pips 43 Pips

    Swap Fees

    Swap fees (the cost of holding a position overnight) were average at FXTM.

    In the table below, you can see the Swap Long (the cost/credit of holding a buy position overnight) and the Swap Short (the cost/credit of maintaining a sell position overnight) for one full-sized contract. A full-sized contract is 100,000 units of the base currency (the first currency quoted in the pair). We recorded the data on June 9th, 2022.

    Instrument Swap Long Swap Short
    EUR/USD Charge of $5.70 Credit of $1.20
    GBP/JPY Credit of $0.60 Charge of $7.40

    Non-Trading Fees

    FXTM charges a monthly inactivity fee of 5 EUR/USD/GBP/NGN to accounts that have been dormant for six consecutive months.

    Are Fees at FXTM Competitive?

    Spreads, swaps, and inactivity fees at FXTM are roughly average for the forex and CFD industry. More competitive trading costs are available via the Advantage account type, which gives a discount based on trading volume but requires a higher account balance.

    Platforms and Tools

    4.5
    How Did We Test the Broker's Trading Platforms?
    We understand that platforms play a crucial role in your trading experience. That's why we spent many hours testing the broker's web, desktop, and mobile trading platforms to gain a real understanding of their usability, functionality, and overall performance. From experimenting with different order types to testing execution speeds, charting, and other features, we thoroughly examined every aspect of these platforms based on our trading expertise, helping you make an informed choice.
    platforms chart

    FXTM offers MetaTrader 4 and MetaTrader 5 for desktop and web. For trading on the go, clients can use the proprietary FXTM Trader mobile app. The MetaTrader platform has advanced functionality but is not highly intuitive and may take beginners some time to master. The FXTM Trader mobile app has an attractive, user-friendly interface but is relatively basic in its functionality.

    FXTM MetaTrader 4 Platform

    MetaTrader 4 Desktop

    FXTM offers MetaTrader 4 for desktop, which includes advanced functions such as copy trading and automated trading.

    MetaTrader 4 is available in 39 languages, from Arabic to Vietnamese. The platform provides popular features such as:

    • Alerts. This feature allows traders to be updated when an instrument reaches a specific price level. Alerts can be delivered via audio, an email, or push notification to a mobile device.
    • Watchlists. Traders can set up a list of their favourite instruments and follow live quotes in a market watch panel.
    • One-click trading. This feature allows traders to execute orders with a single click and no secondary confirmation. Placing a trade with a single click saves time and is especially useful for short-term traders.
    • Trading from the chart. MT4 also allows users the convenience of trading directly from the chart.
    MT4 Order Entry

    MetaTrader also delivers when it comes to the range of available order types. The platform offers the following order types:

    • Market Order. This is an order to buy or sell an instrument at the current best available price.
    • Limit Order. This is an order to buy or sell an instrument at a specified price or better.
    • Stop Loss Order. This is an order to buy or sell an instrument that is triggered when the market price reaches a specified level.
    • Trailing-Stop Order. This is a stop-loss order that can be set at a defined percentage or dollar amount away from an instrument’s current market price. It is used to secure profits when you are in a winning trade while not having to exit the position.
    MT4 Charting

    Charting features are robust. MetaTrader 4 offers:

    • 30 technical indicators. These include classic trend indicators, volume indicators, and oscillators.
    • 23 analytical objects. These include lines, channels, Gann, and Fibonacci tools.
    • 9 time frames Each instrument can be displayed in nine time frames, from one minute to one month.
    • 3 chart types. Traders can choose between Bar Charts, Japanese Candlestick Charts, and Line Charts.

    MetaTrader is also popular due to its copy trading and automated trading features.

    • Trading Signals. Signals in MetaTrader 4 allow users to copy other traders’ activity in real-time automatically.
    • Automated trading. MetaTrader 4 allows users to develop, test, and apply Expert Advisors (EAs). EAs are programs that monitor and trade markets using algorithms. They find opportunities according to set parameters and then either create a notification or automatically open a trade.

    The MetaTrader 4 desktop platform is one of the most feature-rich and popular trading platforms in the world. It does not have the most beautiful interface, and it does require some time and effort to learn, but that is typical of advanced platforms.

    MetaTrader 4 Web

    MetaTrader 4 WebTrader Plarform

    The MetaTrader Web Platform (WebTrader) is a slightly stripped-down version of the desktop platform. It allows you to trade without any additional software; only an internet connection is required. The Web Platform enables users to trade directly from any browser and operating system.

    Popular features include:

    • One-click trading.
    • Trading from the chart.
    • Watchlists with real-time quotes.
    • Trade History.
    • Advanced charting with 30 indicators for technical analysis.

    Copy-trading and automated trading are also only available on the MT4 desktop platform.

    FXTM Trader Mobile App

    FXTM Trader Mobile App

    The FXTM app has a modern and intuitive look and feel. Watchlists, tracking of open, pending, and closed positions, 1-click trading, and trading from the chart are among the key features available via the app. Standard order types are available, including market orders, limit orders and stop-loss orders.

    Charting via the app features:

    • 9 time frames (1 minute to 1 month).
    • 3 indicators (Bollinger Bands, moving averages and RSI).
    • 3 chart types (candle, line and bar).

    FXTM analysis and news are available, so traders can stay on top of the markets while on the move. Clients can also top up funds and make withdrawals through the app. Overall we rate the FXTM Trader App as well designed and especially good for beginners. However, it lacks some popular features such as price alerts and trailing stop-loss orders.

    FXTM Trader Mobile App Languages
    English | Arabic | Chinese | Korean

    Order Execution

    FXTM uses Market Execution which involves orders going directly to the market through an Electronic Communication Network (ECN) and being executed in milliseconds.

    Tradable Instruments

    3.5
    How Did We Test the Broker's Tradable Instruments?
    For this section, we examined the broker's market offering, assessing the variety and depth of instruments and asset classes available for trading. Through our proprietary database, we then compared the results with other brokers. This comprehensive analysis allows you to determine if the broker offers the specific instruments and trading options you're looking for.
    tradable_instruments chart

    FXTM offers trading in forex and CFDs on commodities and indices. CFDs on stocks are currently not available for new clients in the UK. FXTM is relatively strong in the number of available CFDs on indices and the variety of major, minor and exotic currency pairs.

    FXTM Tradable Instruments

    CFDs (Contract for Differences) are financial derivative products that allow traders to speculate in various markets without owning the underlying assets. Tradable instruments at FXTM include the following assets:

    • 62 CFDs on Currency Pairs. A currency pair combines two different currencies, with the value of one currency quoted against the other. For example, EUR/USD, which reflects the value of the euro measured in dollars.
    • 16 Index CFDs. An index is a basket of trading instruments used to gauge a market sector, stocks within an exchange, or a country’s economy.
    • 5 Commodity CFDs. Commodities are raw products, such as gold and oil.

    In the tables below, you can see a selection highlighting the variety of instruments available at FXTM:

    Forex Majors Forex Minors
    GBP/USD | EUR/USD | USD/JPY EUR/NZD | CAD/JPY | AUD/NZD
    CFDs on Commodities CFDs on Indices
    WTI Crude Oil | Gold | Natural Gas Dax 30 | UK 100 | AUS 200

    Customer Support

    4.3
    How Did We Test the Broker's Customer Support?
    Traders often underestimate the importance of customer support, yet it proves to be a critical aspect during times of crisis. We put the broker's customer support to the test ourselves using all possible channels, such as chat, phone, and others. Our evaluation focused on the accessibility of live agents, as well as the helpfulness and professionalism of their responses. This way, we provide you with comprehensive insights into whether a broker can deliver full support when you need it most.
    customer_support chart

    FXTM offers customer support via live chat, phone, and email during office hours ( Monday to Friday, 6 am to 4 pm GMT / GMT+1 DST). Clients of FXTM are assigned a dedicated customer solutions representative. We rated support at FXTM as reliable and better than average for the industry.

    FXTM Customer Support Chat via Telegram

    We tested customer support with various queries, ranging from tradable instruments to the base currencies available. Chat support responded immediately, and emails were typically responded to within one business day. Via phone, we also received solid support from well-informed agents.

    To receive support via chat, clients must use Telegram or Facebook messenger. This requires already having or setting up an account with either one. We found that Telegram worked well, and it was convenient to have all the prior chat questions and answers remaining in the chat window, which is not always the case with chat software used by brokers.

    Via chat, customer support is available in English and Chinese. In addition, relationship managers who speak English, Chinese, Spanish, French, Polish, Italian, and Arabic are available for FXTM clients.

    Deposits & Withdrawals

    4.2
    How Did We Test the Broker's Deposit and Withdrawal Process?
    The deposit or withdrawal process can be tricky since you may encounter hidden fees or longer than expected processing time. To assess the broker's offerings, we examined their deposit and withdrawal options and conditions. Using our proprietary database, we then compared these results with those of other brokers.
    deposit chart

    Deposits and withdrawals at FXTM can be made via bank wire transfer, credit/debit card, and digital wallet. Processing times are about average for the industry. Deposits are free, but fees are charged for withdrawals via bank transfer and credit card.

    FXTM Deposits and Withdrawals

    In the tables below, we break down the fees and processing times for each deposit and withdrawal method.

    Deposits

    Deposit Method Fees Processing Time
    Bank Wire 0% 3-5 Business Days
    Visa 0% 2 Hours
    Mastercard 0% 2 Hours
    Maestro 0% 2 Hours
    Skrill 0% 2 Hours
    Neteller 0% 2 Hours

    Withdrawals

    Withdrawal Method Fees Processing Time
    Bank Wire 10 EUR / 5 GBP 3-5 Business Days
    Visa 2 EUR/ 3 USD/ 2 GBP 2 Hours
    Mastercard 2 EUR/ 3 USD/ 2 GBP 2 Hours
    Maestro 2 EUR/ 3 USD/ 2 GBP 2 Hours
    Skrill 0% 1 Business Day
    Neteller 0% Same business day

    FXTM offers a good range of deposit and withdrawal methods and processing times are about average for the industry. While there are fees for withdrawals via bank transfer and credit/debit card, they are relatively low.

    Account Types and Terms

    4.9
    How Did We Test the Broker's Account Types and Terms?
    When it comes to achieving your trading goals, choosing the proper account is essential. We initiated our evaluation by personally opening an account with the broker, which allowed us to gain firsthand experience of the process and accurately asses, how fast and easy it is. In addition, we carried out an in-depth analysis of the account types and features offered by the broker, including spreads, maximum leverage, minimum deposits, and more. For a comprehensive comparison, we turned to our proprietary database and examined how this broker's account offerings and processes stacked up against other brokers.
    account chart

    The account opening process at FXTM is fully digital and can be completed quickly via the company website. FXTM offers two account types: Advantage and Advantage Plus.

    Opening a new account at FXTM

    Account Application

    To open an individual account at the Exinity UK Ltd., prospective clients must answer a series of questions covering the following:

    • Gender.
    • Date of birth.
    • Place of birth.
    • Citizenship.
    • Level of education.
    • Profession.
    • Business Operation/Activity.
    • Where you pay taxes.
    • Tax Identification Number (optional).
    • Current Address.
    • Financial background.
    • Annual Income.
    • Net Worth.
    • Source of Funds.
    • Nature of your Business with FXTM.
    • Method(s) to deposit funds.
    • Anticipated account turnover within the next 12 months.
    • Amount of trading experience with forex, CFDs and spread betting.
    • Amount of trading experience with shares, bonds, and margined products.
    • The average quarterly volume of past transactions.
    • Knowledge test of 7 multiple-choice questions.

    Prospective clients must verify their identity by uploading a copy of their passport, national ID card, or driving licence. In addition, they must provide proof of residence using a bank statement, utility bill, tenancy contract, or residence certificate.

    Account Types

    FXTM offers two account types – Advantage and Advantage Plus. The features of each account type are broken down in the table below:

    Feature Advantage Advantage Plus
    Minimum deposit $/€/£ 500 $/€/£ 500
    Spreads From 0.0 From 1.5
    Trading Instruments FX, Metals, Commodities, Indices FX, Metals, Commodities, Indices
    Commission Average of $0.40 – $2 based on volume Zero
    Platforms MT4 MT4
    Currency USD / EUR / GBP USD / EUR / GBP
    Leverage Up to 1:30 Up to 1:30
    Order execution Market Execution Market Execution

    Demo Accounts

    FXTM offers demo accounts for MetaTrader 4, MetaTrader 5, and the FXTM Trader App. Demo accounts are especially important for beginners as they allow them to practice their strategies and get comfortable with the trading platform without risking real money.

    The demo account features live quotes and simulates live market conditions in assets such as forex and CFDs on commodities and indices. Once users are up to speed on a demo account, they can easily switch over to a live account.

    Professional Accounts

    Professional clients can trade using a higher leverage level of up to 1:300 but lose a certain level of protection. Professional account holders are responsible for ensuring that their accounts do not fall into a negative balance.

    To qualify for a professional account, clients must meet at least two of the criteria outlined below:

    • Traded a significant size of CFDs (at least 10 lots per quarter over the previous four quarters).
    • Have an investment portfolio that exceeds €500,000.
    • Have worked in the financial sector for at least one year in a professional position that requires knowledge of FX and CFD trading.

    Islamic Accounts

    FXTM offers a swap-free Islamic account that adheres to the principles of Sharia law. To activate this option, FXTM asks clients to provide an official document that shows their religion.

    Leverage

    One of the reasons that traders are attracted to the forex and CFD markets is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account.

    For UK clients, FXTM (Exinity UK Ltd.) offers clients leverage of up to 1:30. This means that with an account of $1,000, you can control up to $30,000 worth of positions in the market. Leverage is often described as a ‘double-edged sword’ as it can hurt you as much as it helps you. Traders must remember that it can amplify both their profits and their losses.

    Supported Countries

    FXTM takes clients from the majority of countries globally. However, the FXTM brand does not provide services to residents of the USA, Mauritius, Japan, Canada, Haiti, Suriname, the Democratic Republic of Korea, Puerto Rico, Brazil, the Occupied Area of Cyprus, and Hong Kong.

    Research

    5
    How Did We Test the Broker's Research Tools?
    Research options offered by brokers may not be seen as the most important feature for some traders, but they can provide a competitive advantage. To assess the broker's research offerings, we personally explored and tested both proprietary and third-party tools and content, such as Fundamental and Technical Analysis, Market News, educational videos, and webinars. After evaluating the availability and quality of the overall research offering, we compared the results with our benchmark to provide a comprehensive analysis of the broker's research capabilities.
    research chart

    FXTM shines in the area of market analysis, with an in-house team producing insightful articles daily. Content covers fundamental and technical analysis and is mainly focused on the forex market.

    FXTM Research

    FXTM’s daily market analysis covers major economic events and includes technical insights to help traders find trading ideas. Articles help explain fundamental forces such as central bank policy and highlight key support and resistance levels. Weekly forecasts help orient traders for coming sessions, and ‘trade of the week’ articles highlight specific instruments in play. Traders can follow the latest news and reports via the FXTM Twitter account, which is quite active.

    The FXTM website features a robust economic calendar, which lists upcoming releases, the expected level of market impact, the actual figure, the consensus forecast, the deviation from the consensus, and the figure from the prior release.

    A selection of custom MT4 indicators, such as the Pivot SR Levels indicator, can help give traders an edge in their analysis and are available to be downloaded from the FXTM website.

    Education

    3.8
    How Did We Test the Broker's Education Offering?
    Gaining knowledge about trading in the financial markets can make the difference between success and failure. To assess the broker's educational offerings, we personally tested and evaluated the quality of the content provided, considering its relevance for both novice and experienced traders. We explored the range of materials available, such as articles, videos, webinars, and courses. After evaluating the content's volume, update frequency, and overall quality, we compared the results with our benchmark to provide a well-rounded analysis of the broker's education offerings.
    education chart

    FXTM excels in its educational offering, with articles, ebooks, and video content to help guide clients. The quality of educational materials are better than average for the industry.

    FXTM Educational Webinars

    FXTM provides dozens of educational articles to help give new traders a solid foundation. Practical themes such as identifying trends and how to use oscillators are covered in depth. These articles are useful for both beginners and experienced traders who may have gaps in their knowledge. In addition, short, easy-to-understand educational videos cover key trading and technical analysis concepts. Terms such as swaps and margin are explained along with basic themes such as the different chart types. The video content is mostly geared towards beginners.

    FXTM has a useful section explaining trading strategy concepts and outlining the rules to nine different forex trading strategies, for example the ‘Bladerunner Trade’. Traders can find an archive of previous webinars on the website, the most recent being from August of 2020. These include many recordings relating to trading strategies. Five ebooks are available to clients, covering cryptocurrencies, Japanese Candlestick strategies, the habits of successful traders, and Elliott Wave Theory.

    The Bottom Line

    FXTM has a substantial operating history of more than a decade, a global presence, and a staff numbering over 800, making it a relatively large and established player in the world of forex and CFD brokerage.

    With operations overseen by four regulators, including two top-tier regulators, we rate FXTM as a relatively safe broker. Clients with the offshore entity should be aware that their protections are limited.

    The tradable instruments and available platforms are rather basic at FXTM. However, educational materials and the quality of customer service are better than average. With the different available account types, we rate this broker as suitable for both beginners and experienced traders.

    FAQ

    The headquarters of FXTM is situated in Limassol, Cyprus.
    Several top-tier regulators oversee FXTM. Clients in the UK and Europe benefit from segregated funds, negative balance protection, and a compensation fund. Clients with the offshore entity do not have all these benefits.
    FXTM makes money from spreads, commissions, swap fees, and miscellaneous account-related fees.
    Funds can be deposited via Visa, Mastercard, Maestro, Skrill, Neteller, and bank wire transfer.
    The minimum deposit is $/€/£500.
    Clients can withdraw funds via Visa, Mastercard, Maestro, Skrill, Neteller, and bank wire transfer.
    The processing time for withdrawals via bank wire is 3-5 business days.
    For standard accounts in the UK, the maximum leverage is 1:30. For professional clients, the maximum leverage is 1:300.
    You can open an account by visiting the FXTM website (FXTM.com).
    FXTM offers MetaTrader 4, MetaTrader 5 and the FXTM Trader App.
    For withdrawals via bank wire, FXTM charges £5.
    FXTM has strong educational resources and reliable customer support, making it a suitable broker for traders new to the markets.
    Yes, FXTM offers demo accounts via MetaTrader 4, MetaTrader 5, and the FXTM Trader App.

    See FXTM Full Information

    Headquarters CountryCyprus
    Foundation Year2011
    RegulationsCySEC (Cyprus), FSCA (South Africa), FCA (United Kingdom), FSCM (Mauritius)
    Publicly TradedNo
    Number Of Employees800
    Trading Desk TypeNo dealing desk, ECN, Market Maker
    Trading PlatformsMT5, MT4, Web Platform, Mobile Platform
    Restricted Countries
    Belize, United States, Japan
    Supported Languages
    Turkish, Korean, Hebrew, English, Danish, Russian, French, Indonesian, Latvian, Thai, Slovak, Czech, Arabic, Estonian, Hungarian, Bulgarian, Italian, Spanish, Chinese, Croatian, Farsi, Japanese, Swedish, Serbian, Malaysian, German
    Min Deposit$500
    Max Leverage1:30 (CySEC ), 1:500 (FSCA), 1:30 (FCA), 1:3000 (FSCM)
    Deposit OptionsLocal Deposit, Maestro, Wire Transfer, Skrill, Neteller, Credit Card, Visa, Mastercard, GooglePay, PayRedeem
    Withdrawal OptionsWire Transfer, Neteller, Skrill, Credit Card, PerfectMoney, Maestro, Visa, Mastercard, PayRedeem, GlobePay
    Products
    Currencies, Stocks, Indices, Commodities
    Demo AccountYes
    OCO OrdersNo
    Offers HedgingNo
    Automated TradingYes
    API TradingNo
    Guaranteed Stop LossYes
    Guaranteed Limit OrdersYes
    Guaranteed Fills / LiquidityNo
    Economic calendarYes
    Trading From ChartYes
    One-Click TradingYes
    Expert AdvisorNo
    Social TradingYes
    AutochartistNo
    Trading SignalsYes
    24 Hours SupportYes
    Support During WeekendsNo
    Live ChatYes
    Daily Market CommentaryYes
    News (Top-Tier Sources)Yes
    WebinarsYes
    Deposit FeeNo
    Withdrawal FeeNo
    Inactivity FeeNo

    About the Author

    Dan BlystoneBroker Analyst

    Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.

    Why you can trust FX Empire

    At FXEmpire, we strive to provide unbiased, thorough and accurate broker reviews by industry experts to help our users make smarter financial decisions.

    Why you can trust FX Empire

    FXEmpire was founded in 2011, making us one of the first forex broker review sites. You can trust FXEmpire because of our thorough and unbiased review process. With over a decade of experience, we have a team of industry experts who conduct rigorous tests to ensure our reviews are accurate and unbiased. Our reviews are designed to bring clarity and confidence to the process of choosing a broker, and are based on objective criteria and measurable data. Our editorial team is composed of trading industry professionals and seasoned financial journalists, who ensure that our reviews are accurate and unbiased. Additionally, our review system is based on 9 core categories and over 250 distinct variables, which ensures that all aspects of a broker are considered before giving a final rating. So, you can trust FXEmpire to provide you with honest and informative reviews that will help you make an informed decision on which broker will best enable you to reach your financial goals.