For this FXTM review, we have opened a standard and a stock CFDs account and deposited over €6,000 in total.

We traded the popular instrument in each market to get the real spreads and placed a total of 12 trades.

We also reached out to customer support to solve issues that we had faced.

Finally, we withdrew our funds to see if there are any issues with the withdrawal process.

What is FXTM?

ForexTime, known as FXTM, was founded in 2011 and is headquartered in Cyprus. The broker is regulated in several jurisdictions, including the United Kingdom, Cyprus, South Africa, and Mauritius.

ForexTime Review

FXTM offers trading services with forex pairs, indices, commodities, stocks, cryptocurrencies, spot metals, and also real stocks.

Some of the key highlights of FXTM are:

🗺️ Authorised & Regulated inUK, Cyprus, South Africa, Mauritius
🛡️ Is FXTM safeYes
💰 EUR/USD Spread1.9
💳 Minimum depositUS$10
💰 Withdrawal feeUS$0 (with exceptions)
🖥️ Trading PlatformMT4, MT5, FXTM Trader
📈 Markets offeredForex, Indices, Stocks, Commodities, Cryptocurrencies
📉 Number of Products258

Licenses and Regulations

FXTM holds 4 regulatory licenses from several top regulators, like the United Kingdom’s FCA.

The full list of all FXTM licenses is below:

Legal entityRegistered inRegulatorLicense NumberAccepting clients fromCompensation Scheme Amount
ForexTime UK LimitedUnited KingdomFinancial Conduct Authority (FCA)777911United Kingdom£85,000
ForexTime LimitedCyprusCyprus Securities and Exchange Commission (CySEC)185/12EU€20,000
ForexTime LimitedSouth AfricaFinancial Sector Conduct Authority (FSCA)46614South AfricaNo compensation scheme
Exinity LimitedMauritiusFinancial Services Commission (FSC)C113012295Globally many countriesNo compensation scheme

The same FXTM entity holds licenses from the regulators in Cyprus and South Africa.

FXTM CySEC (Cyprus Securities and Exchange Commission ) Registration
ForexTime Limited registration details on CySEC website

Is FXTM Safe?

Yes, FXTM is safe to trade.

Under the UK regulator, FXTM clients’ funds are protected with an £85,000 compensation scheme. FXTM clients’ funds under the CySEC-regulated entity are also protected with a €20,000 compensation scheme.

For this review, we opened a standard account and a stock CFD account with ForexTime Limited, which is regulated by CySEC in Cyprus. For our tests, we deposited money, placed trades, and withdrew deposits.

We recommend you to register your account with the United Kingdom or Cypriot entity because of their compensation schemes.

Fees and Commissions

FXTM fees are built into the spreads but varies with the account types. Spreads on its standard and stock CFDs account types are higher than the average industry benchmark.

The spreads, however, are lower on ECN and Pro accounts.

FXTM Spread Charged in Our Trades

For our tests, we have chosen popular instruments in each market offered by FXTM. We placed 3 trades for each instrument to get a picture of the average spread. Though spreads for most of the asset classes did not fluctuate much, swings in commodities spreads were prominent.

Details of our trades are shown below the table.

MarketsInstruments1st trade2nd trade3rd tradeAvg. spread
IndicesFTSE 1005.

Our testing with standard account finds that FXTM spreads for forex are above the industry averageSpreads on indices and commodities are significantly higher than the average industry benchmark.

Stock spreads are, however, are closer to the average industry benchmark but still a bit on the higher side.

MarketsInstrumentsAvg. spread charged in our tradesIndustry avg. spread
IndicesFTSE 1005.11.65

Other Fees

FXTM does not have any deposit fee but charges withdrawal fees for some payment modes. The broker, however, charges a $5 monthly inactivity fee after any account is inactive for 6 months.

FXTM Account Types

FXTM offers both standard and ECN accounts.

There are 3 FXTM account types under standard accounts: Standard Account, Cent Account, and Stock CFDs Account. Under ECN, there are 4 types of FXTM accounts: Stocks Account, ECN Account, ECN Zero Account, and FXTM Pro Account.

Details of each account type are in the below table:

Standard AccountCent AccountStock CFDs AccountStocks AccountECN AccountECN Zero AccountFXTM Pro Account
Trading platformsMT4/MT5MT4MT4MT5MT4/MT5MT4/MT5MT4/MT5
Account currencyUSD / EUR / GBPUS Cent / EU Cent / GBP PenceUSD / EUR / GBPUSD / EUR / GBPUSD / EUR / GBPUSD / EUR / GBPUSD / EUR / GBP
Minimum deposit$/€/£ 100$/€/£ 10$/€/£ 100$/€/£ 100$/€/£ 500$/€/£ 200$/€/£ 25,000
Commission$2 per lot
Order executionInstant ExecutionInstant ExecutionInstant ExecutionMarket ExecutionMarket ExecutionMarket ExecutionMarket Execution
SpreadFrom 1.3From 1.5From 0.1TightFrom 0.1From 1.5From 0

FXTM offers real stock trading under its Stocks account, but this account type is only available with Exinity Limited, that is outside the European Union.

FXTM Pro Account

FXTM Pro account holders need to maintain a minimum balance of $/€/£25,000 always. If the balance comes below the threshold, the broker will offer higher spreads.

The broker also offers NGN base currency accounts for Nigerian traders.

Account Opening

Opening a new account with FXTM is simple and fast.

Steps to create an FXTM account:

  1. Enter the first name, last name, country of residence, mobile phone number, email, and password on the initial registration page.
  2. Complete your profile with personal and professional information: gender, date of birth, citizenship status, education level, profession, business operation, taxation country, tax identification number, political exposure, and address.
  3. Select account type, account currency, account leverage, “swap-free” status, and trading account password.
  4. Click on “upload documents” under the user profile to submit identification proofs.

We have submitted the following documents to verify our FXTM account:

  1. Copy of national identification (both front and back)
  2. Copy of utility bill as address proof

A minimum deposit is required to activate the account.

The registration process took merely 20 minutesOur standard account was verified after 1 business day.

We registered our account on January 11, 2023, and it was verified on January 12, 2023.

Overall, our account opening experience was quick, smooth, and without any issues.

FXTM Account Opening
FXTM account type page

Deposit and Withdrawal

Both deposits and withdrawals on FXTM are fast, easy, and without any fees. All our funding and withdrawal requests were smooth.

FXTM Minimum Deposit

The minimum deposit amount on FXTM depends on the account type and varies from $/€/£10, for a Cent account, to $/€/£25,000, in the case of a Pro account.

For a Standard and a Stock CFDs account, the minimum deposit is $/€/£100.

Please note that the traders only need to deposit the minimum amount the first time they are funding the account and maintain at least that balance. For consecutive fundings, traders can deposit any amount.


FXTM allows client deposits through international wire transfers, credit cards, several local bank transfers, and popular e-wallets like Skrill, Neteller, and Paypal. It also takes deposits in popular cryptocurrencies.

The broker also allows internal fund transfers from one account type to another.

We have tested the deposit process on FXTM using multiple payment modes.

There was no deposit fee and the fundings were quick.

Details of our fund deposits are shown in the below table.

Payment MethodSubmitted DateFunded Account DateFunding TimeFee
Credit/Debit card2023-01-24NANANA
Skrill2023-01-252023-01-2510 minszero
NETELLER2023-01-242023-01-2410 minszero
Paypal2023-01-252023-01-2510 minszero

Internal Transfer (Standard Account to Stock CFD Account)
2023-01-252023-01-2510 minszero

We tried to make the first deposit using a credit/debit card. Once the amount was deducted from the card, FXTM asked us to provide a copy of both sides of the card for verification.

We did not proceed to verify our card, and the received the deducted deposit in our card after 7 working days.

FXTM Deposit Methods
FXTM deposits and withdrawals page


FXTM has broad withdrawal method options similar to its deposits. Traders can withdraw their funds with international wire transfers, on credit/debit cards, by local bank transfers, on popular e-wallets, and in cryptocurrencies.

Though many popular withdrawal methods do not have any fee, FXTM charges a commission for several withdrawal modes. For cryptocurrency withdrawals, this withdrawal fee is 1%, and for wire transfers, it’s €30.

Details of our withdrawal requests are in the table below.

Payment MethodSubmitted DateFund Released DateFund Arrived DateWithdrawal TimeFee
Credit/Debit cardNANANANA
Skrill2023-01-262023-01-262023-01-26same dayzero
NETELLER2023-01-252023-01-262023-01-261 working dayzero
Paypal2023-01-272023-01-272023-01-27same day2%

FXTM charges a 2% fee on all withdrawals via PayPal. So this mode is not recommended. 

Withdrawals on FXTM were fast. We received funds from 2 of our withdrawal requests on the same day, whereas on most of the other brokers, it takes at least a day.

Markets and Products

FXTM offers CFDs trading services in various popular markets, including forex, indices, commodities, stocks, and cryptocurrencies. It also offers real US stock trading outside the European Union.

It offers a fair number of forex pairs, but the number of instruments lacks in the other markets.

The complete list of FXTM offerings are:


Cryptocurrency trading services are only available with Exinity Limited via Exinity ECN Spreads.

Copy Trading

FXTM also offers copy-trading services under FXTM Invest.

Novice traders can copy the trading strategies of any Strategy Managers, investing as low as $100.

Expert traders can become FXTM Strategy Manager only with an ECN or ECN Zero trading account. They can earn up to 40% in trading commission.

FXTM Invest

Trading Conditions

FXTM offers good trading conditions, allowing both hedging and scalping.

However, hedging is not available on Strategy accounts, which are used by the experts sharing their trading strategies on FXTM’s copy-trading platform.

The broker also allows traders to change the leverage levels.

We recommend traders to run scalping strategies only on ECN accounts and not on Standard and Cent accounts.

Trading MethodAllowed
Change LeverageYes


FXTM allows traders to change the offered leverage levels.

MarketsForexTime UK LimitedForexTime LimitedExinity Limited
Major Currency Pairs30:130:12000:1
Non-major Currency Pairs20:120:1500:1
Other Commodities (except Gold)10:110:1200:1

Exinity Limited has divided its FXTM leverages into further tiers. The full details of leverage can be found here.


FXTM offers a 30% bonus on deposits up to $250 to Standard, ECN, Cent, and ECN Zero account holders (Also check Brokers with No Deposit Bonus 2023).

The broker also runs a loyalty program to reward traders. The structure of the loyalty program is detailed below.

Level 1Level 2Level 3Level 4Level 5
Net Deposit(s)$1 to $15,000$15,001 to $30,000$30,001 to $60,000$60,001 to $120,000Above $ 120,001
Rebate (cashback) per full completed lot$2$3$4$5$5
Frequency of the Rebate transfer(s) to Client’s AccountMonday(s) following the Lots Calculation PeriodMonday(s) following the Lots Calculation PeriodMonday(s) following the Lots Calculation PeriodMonday(s) following the Lots Calculation PeriodMonday(s) following the Lots Calculation Period
Maximum Payout$500$1,500$3,000$5,000$10,000
Upgrade or Downgrade by FXTM





The loyalty program is only available on Exinity Limited for all clients. However, only professional clients from UK and EU under ForexTime Limited and ForexTime UK Limited can access this program.

FXTM Loyalty Program

FXTM Trading Platform

FXTM offers 3 trading platforms:

FXTM Trade is available on both Android and iOS devices.

For our tests, we placed the orders on the MetaTrader 4 mobile platform.

FXTM ForexTIme MT4

FXTM MT4 Mobile Trading Platform
FXTM MT4 mobile trading platform

Research and Tools

FXTM offers excellent market research tools.

Some key research tools on FXTM are:

  • Trading signals
  • Trading indicators and charting tools
  • Pivot points strategy
  • Economic calendar
  • Excellent news feed

FXTM also has an in-house team of experts who provide market research and analysis reports.

On the downside, the broker does not offer fundamental market data.

FXTM Trading Tool


FXTM offers many learning resources to educate new traders.

The educational resources of the broker include:

  • eBooks and trading guides
  • Seminars and workshops
  • Webinars
  • A forex industry glossary
  • Video tutorials on trading

The broker also offers a demo trading account.

FXTM Educational Material
FXTM Educational Webinars

Customer Service

FXTM has excellent customer support.

Traders can contact the broker via:

  • Live chat (on the platform and also on popular social media) 
  • email
  • Enquiry form
  • Phone
QuestionResponse TimeQuality of reply
Live ChatQuerries on hedging and scalping1 minClear and direct
EmailQuerries in debit card verification after funding
1 hourClear and direct

Live chat is only available around the clock and in multiple languages.

We asked several questions on multiple live chat sessions, and the customer representative was fast to respond, clear, and accurate every time.

The broker also has a detailed Q&A section for frequently faced issues.

FXTM Customer Support
FXTM Customer Service


Our overall experience with FXTM was smooth: from account opening to trading and from deposit to withdrawal.

However, the spreads offered by the brokerage on standard accounts are much higher than the industry average.

We did not face any issues during our testing process, and the customer support was also responsive and accurate with our queries.

We recommend FXTM ECN accounts to traders who use scalping strategies and focus on expert advisory (EA) trading. Here you can also see other best forex broker for Iranian.

We recommend FXTM for traders who are

  • Beginners in trading
  • Experienced traders
  • ECN traders
  • Trading currency pairs or Cryptocurrencies
  • Automated trading
  • EA trader
  • Micro Trading

FXTM might not be a fit if you are

  • Day trader
  • Trading of Real Stocks

Author of this review

By George Rossi

Author of this review

I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.

Now I am passionate about reviewing and comparing forex brokers.

Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

Leave a Reply

Your email address will not be published. Required fields are marked *