FXTM Broker review
- Well regulated
- Micro account with low minimum
- deposit plus zero commission
- Excellent for beginners
Losses can exceed deposit
No of Users
6,000,000+
Min. Deposit
0
Regulation
Cysec,FCA
Max Leverage
30:1
EUR/USD
GBP/USD
USD/JPY
USD/CAD
AUD/USD
0.9
1.6
1.1
2
1.1
Spreads
-
EUR/USD : 0.9
-
GBP/USD : 1.6
-
USD/JPY: 1.1
-
USD/CAD : 2
-
AUD/USD : 1.1
Risk Warning: 79% of retail investor accounts lose money when trading CFDs with this provider.
Introduction to FXTM Market
ForexTime Limited (FXTM) is an international online forex broker founded in 2011. The company’s headquarters are in London, United Kingdom and have registered offices in Cyprus and the Republic of Mauritius. FXTM is licensed and/or authorized by various financial regulatory bodies, including the Financial Sector Conduct Authority (FSCA) in South Africa, the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) in the UK. The company offers a variety of different trading instruments on its platform, including forex, metals, commodities, indices, and shares. FXTM has attracted over 4 million clients across 150 countries. They offer clients a variety of features, including 24/7 customer support, negative balance protection, and a free demo account. FXTM is a reliable broker that offers a great experience to its users.
Risk Warning: 79% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you can afford to take the high risk as your capital is at risk.
Spreads & Fees
A ‘Spread’ or otherwise known ‘Bid/Ask Spread’ is the measured difference between the buy and sell price quoted for any trading instrument: whether it be a Forex currency pair, Commodity (Crude Oil), precious metals (Gold), indices, Stocks and Crypto (Bitcoin). It can be interpreted as the cost of trading charged by the broker to traders.
FXTM, along with the majority of brokers charge a spread to their clients and that is the reason why the majority of traders choose a broker with low spreads. Spread is reported in PIPs or known as basis points. Spreads can be calculated by spread value in pips × traded lot size.
The graphical illustration shows the comparison of how FXTM spreads stacks against the combined average spreads of all other established brokers featured on ekzaga.
Risk Warning: 79% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you can afford to take the high risk as your capital is at risk.
Spread vs Trader
- Scalping
- Intraday Trading- <10 Trades
- Intraday Trading- 10+ Trades
- Swing Trading
- Long Term Trading
 Fxtm |
 XTB |
 Plus-500 |
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|---|---|---|---|
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Overall Trust Score
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A+
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A-
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Years Established
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11+
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20+
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14+
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Regulatory Authority
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]
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FCA
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Cysec,FCA
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Why Choose?
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Trusted By More Than 4 Million Individuals Worldwide
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Most Exponential Grown CFD Broker
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Segregated Accounts
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Over 25 Awards Received
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Over 525,000 Customers Trust XTB
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Powerful And User-Friendly Trading App
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Segregated Accounts And Highly Regulated
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5-Star Rating On Trust Pilot
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Superior Customer Service
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Trading Platforms
FXTM is an online broker that offers a wide range of tradable assets including forex, CFDs on indices, precious metals, and energies. FXTM also provides a selection of account types to suit different trading styles and goals. In addition to its standard MetaTrader 4 (MT4) platform. Mobile trading is also available via the FXTM App for Android and iOS devices. FXTM’s MT4 platform is one of the most popular in the industry and features a wide range of charting tools and technical indicators. FXTM’s Trader App platform is designed to be user-friendly and can be accessed from any internet-connected device.
The FXTM Trader App offers a full suite of trading features and is available for both iOS and Android devices. Account holders can also access customer support, account management, and numerous other FXTM services via the app. Overall, FXTM provides a comprehensive selection of trading platforms and account types to suit a wide variety of traders.
Platforms Offered
- WebTrader
- MetaTrader 4
- MetaTrader 5
- Android App & Tablets
- cTrader
- Apple App & Tablets
Accounts Types
| Micro | Advantage | Advantage Plus | |
|---|---|---|---|
|
Min. Deposit |
$50 |
$500 |
$500 |
|
Trading Instruments |
✓FX ✓Metals |
✓FX ✓Metals ✓Commodities ✓Indices |
✓FX ✓Metals ✓Commodities ✓Indices |
|
Commission |
Zero
|
$0.40-$2 based on volume |
Zero
|
|
Platform |
MT4 |
MT4 |
MT4 |
|
Base Currency |
USD, GBP, EUR |
USD, GBP, EUR |
USD, GBP, EUR |
FXTM is a broker that offers a variety of account types to meet the needs of different traders. The FXTM demo account is a great way for new traders to get started, as it allows them to test out the platform with virtual money before committing to a real account. FXTM also allows you to open a demo account with any of their 3 different accounts allowing you to explore the many benefits each has to offer using virtual funds under real market conditions. For more experienced traders, FXTM offers both Advantage and Advantage plus accounts. The advantage account is FXTM’S most popular account as this account type offers the lowest of spreads, with spreads starting as low as 0.0 while offering access to all of FXTM’s features and products, while the Advantage Plus account provides clients with spreads as low as 1.5 but with zero commission charges.
FXTM also offers an Islamic account, which is designed to meet the needs of Muslim traders. This account complies with Sharia law and does not charge overnight or rollover fees. The Islamic account is referred to as a swap-free account.
Account Types Offered
Deposit & Withdrawal
Deposit Methods
| Base Currency | Fees/Commission | Processing Time | ||
|---|---|---|---|---|
|
Credit Cards |
|
|
|
|
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Visa |
USD, EUR, GBP |
zero |
Up to 2 hours |
|
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Mastercard |
USD, EUR, GBP |
zero
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Up to 2 hours |
|
|
Maestro |
USD, EUR, GBP |
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|
|
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E-Wallets |
|
|
|
|
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Neteller |
USD, EUR, GBP |
zero
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Up to 2 hours |
|
|
Skrill |
USD, EUR, GBP |
Zero |
Up to 2 hours |
|
|
Bankwire |
USD, EUR, GBP |
zero
|
3 - 5 Business days |
Withdrawal Methods
| Base Currency | Fees/Commission | Processing Time | |
|---|---|---|---|
|
Credit Cards |
|
|
|
|
Visa |
USD, EUR, GBP |
3 USD, 2 EUR, 2 GBP |
Same business day |
|
Mastercard |
USD, EUR, GBP |
3 USD, 2 EUR, 2 GBP |
Same business day |
|
Maestro |
USD, EUR, GBP |
3 USD, 2 EUR, 2 GBP |
Same business day |
|
E-Wallets |
|
|
|
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Neteller |
USD, EUR, GBP |
zero
|
1 business day |
|
Skrill |
USD, EUR, GBP |
Zero |
Same business day |
|
Bankwire |
USD, EUR, GBP |
10 EUR, 5 GBP |
24 Hours |
FXTM offers a wide range of deposit and withdrawal methods to suit client needs. Deposits are quick, safe, and convenient. With FXTM, clients can fund their accounts using credit/debit cards, bank wire transfers, e-wallets, and local bank transfers. Fast account funding is guaranteed and there are no fees for deposits. Withdrawals are also quick and easy. FXTM clients can withdraw funds using credit/debit cards, bank wire transfers, e-wallets, and local bank transfers. With FXTM, there is no delay in getting access to funds.
With FXTM, there are plenty of options for depositing and withdrawing funds. Although if you were to withdraw using your visa/ MasterCard/maestro credit card then there is a fee that is charged. Also if you were placing a withdrawal through a bank wire transfer again there is a fee that is charged. The only way to avoid paying fees when placing a withdrawal is through e-wallets like Skrill and Neteller.
Deposit Methods
- Visa Debit
- MasterCard
- Skrill
- Bank Transfer
- Visa Credit
- Neteller
- WebMoney
- Paypal
Unique Features
FXTM is a leading forex broker that offers innovative trading platforms, competitive spreads, and excellent customer service. They also offer a wide range of exclusive features, such as the pip calculator and profit calculator. Their trading platform is extremely user-friendly and provides traders with all the tools they need to succeed. They also offer a comprehensive education centre that covers everything from basic forex concepts to more advanced trading strategies. They have over 40 videos explaining the very basics of forex. The videos are short but concise, informative, and easy to understand. FXTM also has its own unique app called the FXTM Trader App.
The app is very easy to use, the whole setup is simplistic, and allows the user to easily navigate through all its features. From this app you can trade all the currency pairs they offer CFDs on other markets such as shares, indices, and commodities. Using the app, you can also deposit and withdraw funds. Along with FXTM’s Trader App they also offer the universal platform of meta trader 4, should you prefer monitoring your trades from there.
Customer Support
FXTM is committed to providing outstanding customer service. Their support team is available 24/5 and supports 30 languages. FXTM aims to respond to all queries within 24 hours. FXTM offers a live chat function on its website, as well as email and phone support. The customer service team is multilingual. FXTM takes customer complaints seriously and has a dedicated complaints department to resolve any issues. FXTM strives to provide a fair and transparent service to all of their clients.
Conclusion
FXTM overall ticks all the major boxes required for when one wants to open an account with a forex broker. If your totally new trader just starting out, you can open a demo account as any three of the accounts they offer for example you may want to open a micro demo account, or you may want to open an Advantage plus demo account.
FXTM really do have something for everyone. If you’re a trader looking for at zero commissions and market execution, with fairly low spreads then FXTM Advantage account is the one to choose, this specific account by no coincidence is their most popular account. FXTM on the whole just ticks all the boxes that you want from a forex broker the only two downsides we see is firstly the withdrawal fees which to be fair aren’t overly expensive. The second downside is the minimum deposit amount. The minimum deposit requirement is without a doubt higher in comparison to other forex brokers. On the micro account, the amount is £/$ 50 and on the popular Advantage or Advantage plus is £/$ 500.
Choosing FXTM as your broker wouldn’t be a mistake at all, a very good broker indeed. They tick the majority of the boxes required for when you looking a forex broker.
