FXTM Review [year]

FXTM Editor’s Verdict

Long-established and highly competitive, FXTM is a multi-asset broker that consistently delivers strong value for traders at all levels. Its combination of exceptionally tight spreads on ECN accounts, fast execution, upgraded MT4/MT5, an excellent copy-trading platform (FXTM Invest), and depth of educational resources makes it equally attractive to beginners and more experienced, active traders.

In my opinion, while the Standard account pricing is less competitive than the ECN model, and the asset variety could be broader, FXTM is a trusted and well-regulated broker offering an overall high-quality trading environment. With plenty of local deposit options, responsive customer support, plus a proven track record, FXTM presents a strong choice if you are on the lookout for a broker that expertly balances cost efficiency and platform flexibility.

FXTM Video Review

FXTM Overview

A Leader for Emerging and Frontier Markets with Excellent Education.

FXTM has built a solid reputation for low costs, robust regulation, and flexible trading conditions. The broker enables active traders to maintain a competitive edge, with direct access to automation, and value low-cost execution. By blending rigorous regulation, a range of powerful technological tools, and competitive fees, FXTM offers traders an attractive proposition in today’s crowded broker landscape.

Who Should Trade with FXTM?

FXTM Highlights for 2025

• Cutting-edge price improvement technology lowering trading fees by an average of $3.00 per lot, applicable to 97.18% of trades
• Deep liquidity providing an average execution time of 0.1 seconds
• Raw spread trading with spreads from 0.0 pips for a commission of $7.00 per 1.0 standard round lot
• MT4 and MT5 trading platforms for algorithmic trading
• Trading Central, the upgrade package from FX Blue, and its in-house Pivot Point Strategy plugin upgrade for MT4/MT5
• VPS hosting for low-latency 24/5 Forex trading
• User-friendly FXTM Trader
• External client fund insurance up to $1,000,000
• Quality education for beginner traders
• A balanced asset selection of liquid trading instruments, including cryptocurrency CFD’s

FXTM Regulation and Security

How Does FXTM Regulation Measure Up to the Competition?

At DailyForex we appreciate just how critical it is for you that you are placing your hard-earned cash in the hands of a well-regulated broker. Brokers with at least one tier-1 entity will have a reputation to protect and will be more likely to provide the highest levels of oversight, transparency, and investor protection, across their entire operation. Regulators like the FCA (UK), ASIC (Australia), or CFTC/NFA (US) impose strict rules relating to capital requirements, client fund segregation, and fair-trading practices. These are designed to minimize the risk of fraud and malpractice, while creating a trusted framework for traders. Tier-1 regulation gives you confidence that your funds are safe with a forex broker that is reliable, well-capitalized, and committed to operating under the most stringent global regulatory standards.

Number of Tier 1 Regulators:

In the below table, FXTM is being compared to two of its market competitors:

Legitimate and secure, FXTM is highly regulated, holding licenses in multiple jurisdictions, including a top-tier UK license, and maintaining mandatory client fund segregation and other protections. FXTM is also acquiring a regulatory license in Kenya as it expands across the African continent. On February 26th, 2021, FXTM ceased its retail operations from its CySEC regulated entity, citing the uncompetitive regulatory framework introduced by the European Securities and Markets Authority (ESMA). EEA clients can trade with any of the other subsidiaries.

I like the regulatory framework at FXTM, ensuring traders have access to competitive trading conditions and superior protection. FXTM is a member of the Hong Kong-based Financial Commission, where the Compensation Fund protects traders up to €20,000 per claim. This is identical to what CySEC offers but does not come with regulatory restrictions.

PricewaterhouseCoopers Limited (PwC) also audits select performance statistics, and FXTM remains one of the industry’s more transparent brokers.

In my view, FXTM is a credible and comparatively secure choice, even if it does not lead the field on regulation breadth. As with any broker, I recommend verifying license status directly with the relevant regulator before funding an account.

Fees & Trading Costs

How Do FXTM Fees Stack Up to Competitors?

Average Trading Cost EUR/USD

In the below table, FXTM is being compared to two of its market competitors:

Average spreads reflect raw EUR/USD pricing on zero-spread accounts and exclude trading commissions.

FXTM offers traders a commission-free and commission-based Forex account. The former ranks among the more expensive ones, but the latter account is one of the best available. I can highly recommend it for high-frequency traders and scalpers, thanks to raw spreads and modest commissions per lot.

It is important to keep in mind that commission-free does not necessarily equal cheaper trading costs. Spreads are generally higher, often twice as high as for commission-based accounts, and FXTM is no exception. However, FXTM offers excellent spreads in its commission-based account, making it one of the cheapest Forex brokers in the entire retail Forex industry worldwide.

Here is the minimum spread for the EUR/USD and the trading costs per 1 standard lot in both.

Besides offering tight spreads for competitive commissions, FXTM also keeps swap rates on leveraged overnight positions low. Hong Kong equities as CFD’s face additional fees, which also remain very low. A $5 monthly inactivity fee applies after six months of dormancy, which I find reasonable.

In short, even accounting for potential swap/overnight costs and other fees (withdrawals, inactivity after dormancy), FXTM remains among the most competitive brokers in terms of raw trading cost for Forex.

Below is a list of trading cost examples for buying and selling the EUR/USD, holding the trade for one night and seven nights, in the commission based FXTM account using the lowest and highest commission tiers.

Taking a 1 standard lot buy/sell position, in the EUR/USD at the tightest spread and holding it for one night will cost the following:

Taking a 1 standard lot buy/sell position, in the EUR/USD at the tightest spread and holding it for seven nights will cost the following:

What Can I Trade?

FXTM offers a wide range of tradable instruments: 60 currency pairs, CFD’s on 14 commodities, 21 indices, and 802 equities, plus access to 639 U.S.-listed stocks.

While the choice of commodities and index CFD’s is limited, I feel that the overall selection of trading instruments is competitive. I also like that FXTM offers 639 stocks for direct investments, albeit only US-listed ones.

In my experience, FXTM works best for US equity traders and Forex traders especially those focused on high-frequency or automated trading, while it is less suited for those seeking broad long-term diversification across many asset categories.

Asset List

FXTM Leverage

FXTM offers maximum leverage up to 1:2000, but it is a six-tier system. Leverage decreases as exposure per symbol increases, which I see as a smart choice. Most retail traders will get between 1:500 and 1:1000, while trading volumes above 60.0 lots gradually decrease to 1:200, 1:100, and 1:25. It remains another industry-leading feature available at FXTM.

FXTM Trading Hours (GMT+1)

Please note that equity markets open and close each trading day, and are not operational continuously like Forex and cryptocurrencies.

I recommend the following step for MT4/MT5 traders to access trading hours:

1. Right-click on the desired symbol in the Market Watch window and select Specification.

2. Scroll down until you see Sessions.

FXTM Account Types

FXTM offers a commission-free account (the Advantage Plus account) and a commission-based “raw” alternative (the Advantage account), both of which require a minimum deposit of US$200. That minimum is slightly higher than some brokers, making it less than ideal for very small retail traders, but still reasonable for most.

FXTM Demo Account

FXTM offers a demo account, which expires after 14 days. While I believe an unlimited option would be the ideal, this still gives traders plenty of time to test strategies and expert advisors. Additionally, a Forex demo account is available for MT4 and MT5 and allows traders to select the demo account balance and leverage.

While no demo account can simulate live trading conditions, the options available at FXTM provide valuable practice environments.

FXTM Trading Platforms

The broker enables access to multiple trading platforms. This allows you choose the one that best fits your preferred strategies, tools, and experience level, switching between platforms as your strategies, capabilities, and requirements evolve.

FXTM offers traders the popular MT4 and MT5 trading platforms and has developed its proprietary mobile app, FXTM Trader, which is very user-friendly. The broker upgrades MT4 with six plugins, ensuring traders have an edge over the out-of-the-box versions most brokers offer. In addition, via FXTM Trader, retail traders gain access to its Pivot Points Strategy, featuring live updates and commentary from the FXTM Head of Education. I like that FXTM invested in MT4 upgrades.

Available Trading Platforms

In the below table, FXTM is being compared to two of its market competitors:

FXTM offers enough flexibility to suit the majority of retail traders, whether you prefer the classic MetaTrader environments or a simpler mobile app. The presence of well-known platforms keeps its offering competitive with traders who are focused heavily on advanced or multi-platform support.

Overview of Trading Platforms

Research and Education

The FXTM research team provides written market commentary and analysis, providing an informative take on market events, plus short YouTube videos, podcasts, and e-books for beginners and experts alike. The broker also maintains its FXTM Trading Signals service for traders seeking actionable research.

Beginner traders have access to one of the most comprehensive educational offerings, consisting of a video library featuring dozens of videos and written content. I find it well-structured and an excellent starting point for new traders. However, I also recommend first-time traders seek third-party education covering trading psychology while avoiding paid-for courses.

Customer Support

Customer Support Methods
Website Languages	EN ES AR IT FR ZH RU EL MS TH PL Other

Traders have access to multilingual customer support, Monday to Friday 07:00 until 02:00 the next day, then Saturday and Sunday: 11:00 until 15:00 (GMT+4). Hindi, Arabic, Spanish, and Chinese are supported languages. The service consists of phone support, e-mail, and an FAQ section. FXTM also provides live chat on its website or via WhatsApp, Telegram, or Messenger. The product and services portfolio at FXTM remains well-explained, minimising the need for assistance, though FXTM ensures traders have swift access to a representative should the need arise.

Bonuses and Promotions

At the time of this review, FXTM maintains a refer-a-friend campaign. Traders and their referrals will each get $50, with a $500 maximum payout per trader. Terms and conditions apply to this promotion, and I recommend that anyone wishing to participate in an FXTM bonus reads and understands them.

Opening an Account

Opening an account at FXTM is fast, and the first step requires only a few seconds. Traders must submit their name, country, a valid mobile phone number, e-mail address, and desired password. FXTM will send a confirmation PIN to the entered mobile number to complete the process. I was able to complete this within 24 hours which was speedy and satisfactory.

As a regulated broker, account verification is a mandatory final step. Most traders will satisfy this by sending a copy of their ID and one proof of residency document. I found the entire process to be swift and hassle-free. Moreover, I like that FXTM does not incorporate unnecessary steps or questionnaires. For many traders, this ease of onboarding will be a significant addition to the plus column.

FXTM Minimum Deposit

The minimum deposit at FXTM for the Advantage and Advantage Plus accounts is $200 or its currency equivalent.

Payment Methods

Withdrawal options
Deposit options

FXTM offers 16 payment options, including bank wires and a broad range of domestic banking solutions, which I find excellent. Traders may also use Skrill, GlobePay, Pay Redeem, Perfect Money, Neteller, FasaPay, and M-Pesa.

Accepted Countries

FXTM caters to most international traders, including the UK, India, Malaysia, and the Philippines. It does not accept traders, who are resident in the USA, Mauritius, Japan, Canada, Haiti, Iran, Suriname, the Democratic People's Republic of Korea, Puerto Rico, the Occupied Area of Cyprus, Quebec, Iraq, Syria, Cuba, Belarus or Myanmar.

FXTM Deposits and Withdrawals

Traders execute their deposits and withdrawals via the MyFXTM back office. While the broker does not levy internal deposit fees, it does charge for withdrawals, which is unfortunate. Traders may also face third-party processing costs and currency conversion fees. I recommend checking them to determine the most convenient and cost-effective solution. Processing times vary based on method and rank from instant to ten business days.

It’s important to keep in mind that only verified trading accounts may request a withdrawal and that FXTM enforces a withdrawal hierarchy. FXTM will return funds to the payment processors used for deposits, and traders must withdraw profits exceeding the amount deposited via bank wire only, which is expensive.

Withdrawal speed and cost vary, depending on method and country, so I advise checking those carefully before depositing, especially if you operate from outside major financial jurisdictions.

Bottom Line

My FXTM review found the broker to be to be a top-tier choice for Forex traders, with competitively low costs in the commission-based trading account, which remain among the best industry-wide. It is particularly well-suited to scalpers, as well as to active and high-frequency traders. However, a broader asset selection would be welcome.

Through a combination of attractive commission-based pricing, credible regulation, and a flexible platform environment FXTM has built a reputation as a serious contender in the crowded retail broker market. It has also positioned itself as a leading broker for traders from emerging and frontier markets. I also like the upgraded MT4/MT5 trading platforms and overall transparency at FXTM, which I confidently rank among the very best Forex brokers.

• Exceptionally low trading costs on commission-based accounts - commission-free account spreads are significantly higher
• Fast execution and favourable terms for scalpers, day traders, and algo/automated traders
• Asset selection is less diversified than many cross-asset brokers
• Robust regulation and client fund protection via reputable regulatory entities
• Flexible platform support: MT4/MT5 + proprietary mobile app

FAQs

Does FXTM offer a welcome bonus?

No, FXTM does not offer a welcome bonus.

Does FXTM allow scalping?

FXTM has no restrictions on scalping and maintains ideal trading conditions for it.

What is FXTM’s minimum deposit in South Africa?

FXTM’s minimum deposit for residents of South Africa is only $200.

How do I open an FXTM account?

A swift online application onboards new clients, and the process takes less than 20 seconds, as FXTM does not collect unnecessary information. A valid mobile phone number is necessary to open an account.

Does FXTM accept US-person clients?

Forextime does not accept US-based traders, as it would violate regulations.

How much does FXTM charge per trade?

The costs depend on the account type, asset, and trading volume, where the commission-based option features the lowest trading costs starting from $4.00 per 1 standard lot in the EUR/USD down to $0.80.

How long is FXTM withdrawal?

FXTM processes most withdrawals within 24 hours, but it may take up to five business days for clients to receive their funds, dependent on the payment processor. Most online payment processors will credit accounts instantly after FXTM has completed the withdrawal.

Does FXTM take Perfect Money?

FXTM accepts Perfect Money, but a 0.50% commission applies.

Is FXTM a legit broker?

FXTM is a legit company, operating with four regulatory licenses and acquiring a fifth. It is also one of the most transparent brokers.

What is FXTM leverage?

FXTM deploys a dynamic six-tier leverage system with a maximum leverage of 1:3000 and a minimum of 1:25 for Forex traders.

Where is Forextime based?

Forextime has its headquarters in Cyprus.

How much does FXTM charge for withdrawal?

FXTM does not charge internal fees, but third-party payment processor costs may apply.

What is the spread at FXTM?

The minimum spread at FXTM is 0.0 pips in the commission-based account and 1.5 pips in the commission-free alternatives.

Does FXTM use MT4?

Yes, FXTM offers MT4 and upgrades the core version with six plugins.

Does FXTM use PayPal?

No, FXTM does not offer PayPal.

Does FXTM have an inactivity fee?

Yes, FXTM levies an inactivity fee of $5 monthly after six months of dormancy.

What is the minimum deposit for FXTM?

The minimum deposit at FXTM for the Advantage or Advantage Plus accounts is $200 or its currency equivalent.

How old is FXTM?

FXTM opened its doors in 2011.

Can I withdraw from FXTM?

Yes, FXTM allows all verified traders who submit a valid withdrawal request to withdraw their funds. FXTM offers 16 payment processors, ensuring many localized options for its core markets.

Can FXTM be trusted?

FXTM complies with four regulators, is a member of the Hong Kong-based Financial Commission, publishes audited performance reports, and has a clean operational record spanning fourteen years. Therefore, traders should consider FXTM among the most-trusted brokers industry-wide.

Does FXTM have fees?

FXTM has fees like any broker. Opening an account is free, but trading fees like spreads and commissions apply. Leveraged traders also pay swap rates on leveraged overnight positions, and currency conversion fees may apply.

Is FXTM legal?

FXTM is legal, complies with four regulators, and has a clean track record. FXTM established itself among the most trusted Forex brokers industry-wide.

Can I withdraw all my money on FXTM?

Verified traders must close all open positions and wait for funds to settle. Once the account shows a cash-only balance, they can withdraw all their money from FXTM.

What is the minimum deposit with FXTM?

The FXTM minimum deposit is $200.

By Tobi Amure

Tobi Opeyemi Amure has more than seven years of experience as a financial market analyst. He holds a Bachelor's Degree from Obafemi Awolowo University. Tobi's main area of expertise is in personal finance and the Forex industry. He has contributed to top platforms such as Investopedia, GoBankingRates, and Investing.com, where his expertise in Forex markets and digital assets is widely recognized. Tobi’s engaging storytelling and data-driven analysis have earned him a feature on Forbes and TheStreet, setting him apart as a trusted voice in Forex and online finance. In his free time, he explores emerging Forex trends, refines his market strategies, and actively engages with the global finance community.

Reviewer DailyForex.com Team

The DFX Team at DailyForex is a group of veteran financial analysts, traders, and brokerage industry experts dedicated to producing in-depth broker reviews and cutting-edge market insights, plus analysis of market trends. Holding over 16 years of experience in global financial markets, and 4 B.A. level academic qualifications in relevant degrees, we conduct thorough, unbiased evaluations of brokers to enable traders make informed decisions, using the most advanced methodology in the industry. Also, the DFX team is involved in generating technical analysis, signals, and trading strategies, with a consistent commitment to accuracy and transparency. Whether you’re a beginner or a professional trader, the DFX Team works to ensure you have the tools and insights you need to succeed as a trader in the retail CFD industry.

Fact-checker Adam Lemon

Chief Analyst and Director of Content

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.