FXTM Review

FX Author By Jeffrey Cammack Author Information Updated: July 2, 2020
Overall Rating
4.43 4.43 / 5
Min. DepositAUD 10
Max. LeverageFlexible
Min. Spread0.1 pips
Regulators CySEC,FCA,FSCA,FSC
Regulator Origin CySEC FCA FSCA FSC
Trading Desk Type

Summary

FXTM is an award-winning ECN/STP broker popular with traders for its wide range of accounts types, from instant execution accounts with very low minimum deposits to ultra-low spread ECN accounts. FXTM's client base relies on fast execution, tight spreads as low as 0 pips, and leverage as high as 1:1000.

With support for both MT4 and MT5, recognition from the FCA and CySEC, excellent training material, and 24/7 customer support, FXTM is a great broker for all traders.

Reviews

Regulation 11111
Trading Conditions 1110.50
Trading Platforms 11110.5
Deposit & Withdrawal 11110
Education & Research 11111
Assets Available 11110.5
Customer Service 11111
Beginner Friendly Standard
Bonuses FXTM Loyalty Cashback
Our Review Process

Trading Conditions

Minimum DepositAUD 10
Base currenciesUSD, EUR, GBP, NGN
Number of FX Pairs59
Hedging Allowed Yes
Scalping Yes
Islamic Account Yes

Average Spreads

EUR / USD0.1
GBP / USD0.3
USD / JPY0.3

Company Details

Company nameExinity Limited
Founded2011
Website www.forextime.com
Type ECN/DMA, Market Maker
Regulators CySEC,FCA,FSCA,FSC
Office locations Cyprus, UK, Belize

Deposit & Withdrawal Methods

Supported Platforms for FXTM

Is FXTM Safe?

The majority of the reputable regulators around the world regulate FXTM.  They include:

Account Types

FXTM has two main account types for real accounts – Standard accounts and ECN accounts.

Standard Accounts

The standard account offerings suit the trader who wants to deposit the bare minimum of 5USD or a minimum of 100 USD which is easier to trade with.  Standard accounts offer Instant Execution as the standard accounts are using the FXTM Dealing Desk setup to make the trades available immediately with the possibility of requotes and thus no slippage.

Spreads on the standard accounts start at 1.3 pips with floating leverage up to 1:1000.

The Standard account type, however, is the only account that offers a full set of currency pairs to trade including some exotic pairs, cryptocurrency trading, and CFDs.  The cent account provides major and minor pairs, so this account would suit the introductory trader who wants to get a feel for Forex trading.

ECN Accounts

The ECN accounts offer market execution to traders, which means that opened at market prices but in periods of high volatility or low liquidity in the pair traded, there could be slippage.  Leverage offered on all ECN accounts (except the professional PRO account) is floating between 1:25 and 1:1000 and the margin call for all trades is set at 80%.

The ECN account has trading of the majors, minors, exotics and spot CFDs but does not have cryptocurrency trading.  If you want to trade cryptocurrencies, then the 100 USD Standard Account is your option.

There are four different account types, all different to satisfy a variety of traders.  Here is how best to compare them to each other.

  • ECN Account: This account has a 500 USD minimum deposit and tight spreads from 0.1 pip.  There is a commission of 2 USD per lot which compensates for the 0.1 pip tight spread.  If you don’t want to pay a commission on the trade, then the ECN Zero account would be the better option.
  • ECN Zero: This account has a lower 200 USD minimum deposit and wider spreads than the ECN account which starts at 1.5 pips. There is no commission on each trade.
  • FXTM ECN MT5: This account is very similar to the ECN account listed above with a few small changes. It best suits traders who want to move to the MT5 platform, and for that pleasure, you will get slightly wider spreads starting at 0.2 pips and slightly fewer pairs to trade.  If you are not keen on moving over to the MT5 platform, don’t choose this account and instead, go for the ECN account described above.
  • FXTM Pro: This account is for the professional trader with a minimum deposit of 25,000 USD.  Because of the high deposit amount, FXTM can offer spreads as tight as 0 pips with no commission, and all currency pairs available.  This account is for the serious trader who enjoys the MT4 platform, market execution and does not want to pay commissions on each trade while keeping their low spreads.

Spreads and Leverage

Leverage offered at FXTM is higher than at most other brokers.  It is flexible leverage from 1:25 to 1:1000 except on the Pro account which has leverage from 1:25 to 1:200.

Trades opened with instant or market execution will see spreads vary, and a possible commission on the trade.

Deposits and Withdrawals

FXTM offers a wide variety of depositing and withdrawal methods.  These include Credit Cards, E-Wallets & Local banking options.  There is no commission on depositing.

In some cases, there can be a commission on withdrawing funds.  The vast majority of withdrawals are processed within 24 hours of them being received which gives traders access to their funds when they need it.

Customer Support

Customer support is usually fast and informative.  It is not often that brokers have opening hours on the weekend, so this will come in handy should you have a job that limits your ability to get away for a call on weekdays.

They can help with most of the general areas that you will come across.  They can help with registration, account funding, minor technical support and also can help you get more detailed support as you need it.

All the below times are GMT + 2.  FXTM support is open:

  • 24 hours a day – Monday to Friday
  • 11:00-16:00 Saturday
  • 12:00-20:00 Sunday

Conclusion

FXTM is a leading broker, winning many awards for performance, customer service, and trading conditions.  They are respected in the industry and they work hard to attract new customers.

A variety of account types welcome new and old traders alike, offering traders good conditions and support when help is needed.   I would recommend FXTM to any new trader who wants to use MT4, but if you were wanted to trade cryptocurrencies, you would find yourself limited in account options.

Alert Most retail CFD accounts lose money. Your capital is at risk.

Compare CFD Brokers

Overall Rating 11110.5 4.43 / 5 11110.5 4.58 / 5 11110.5 4.61 / 5
Minimum DepositAUD 10AUD 5AUD 100
Regulation
CySEC CySEC
FCA FCA
FSCA FSCA
FSC FSC
CySEC CySEC
ASIC ASIC
IFSC IFSC
FCA FCA
ASIC ASIC
DFSA DFSA
Trading Desk Type
Trading InstrumentsCommodities, Cryptocurrencies, Forex, Indicies, Metals, EquitiesCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, EnergiesCommodities, Cryptocurrencies, Forex, Indicies, Metals, Energies
Forex Pairs595780+
Crypto Pairs35
Pros
  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
  • Expensive withdrawals
  • Dealing desk
  • High minimum deposit
  • Limited market analysis
Read Full Review Read Full Review
Regulation 11111 5 / 5 11111 5 / 5 11111 5 / 5
Trading Conditions 1110.50 3.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Trading Platforms 11110.5 4.5 / 5 11110.5 4.5 / 5 11111 5 / 5
Deposit & Withdrawal 11110 4 / 5 11110.5 4.5 / 5 11110 4 / 5
Education & Research 11111 5 / 5 11111 5 / 5 11110.5 4.5 / 5
Assets Available 11110.5 4.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Customer Service 11111 5 / 5 11110 4 / 5 11110.5 4.5 / 5
% Lose with this broker 83% of retail investor accounts lose money when trading CFDs with this provider 69% of retail investor accounts lose money when trading CFDs with this provider 78.6% of retail investor accounts lose money when trading CFDs with this provider
LeverageFlexible500:1500:1
Spread0.1 pips1.0 pips0.0 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • Standard Account (Standard)
  • XM Zero (Standard)
  • Swap-free
Islamic Account Yes Yes Yes
Trading Platforms MT4 , MT5 MT4 , MT5 cTrader , MT4 , MT5
Funding Methods Bank Transfer, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay Bank Transfer, Visa, Mastercard, Skrill, Paypal, Unionpay, POLi, BPay
Trading Commission 4 USD / ECN Accounts 7 USD / lot - XM Zero Account From 7 USD / lot - Razor Account
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Overall Rating 11110.5 4.43 / 5 11110.5 4.58 / 5 11110.5 4.61 / 5
Minimum DepositAUD 10AUD 5AUD 100
Regulation
CySEC CySEC
FCA FCA
FSCA FSCA
FSC FSC
CySEC CySEC
ASIC ASIC
IFSC IFSC
FCA FCA
ASIC ASIC
DFSA DFSA
Trading Desk Type
Trading InstrumentsCommodities, Cryptocurrencies, Forex, Indicies, Metals, EquitiesCommodities, Cryptocurrencies, Forex, Indicies, Metals, Equities, EnergiesCommodities, Cryptocurrencies, Forex, Indicies, Metals, Energies
Forex Pairs595780+
Crypto Pairs35
Pros
  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
  • Expensive withdrawals
  • Dealing desk
  • High minimum deposit
  • Limited market analysis
Read Full Review Read Full Review
Regulation 11111 5 / 5 11111 5 / 5 11111 5 / 5
Trading Conditions 1110.50 3.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Trading Platforms 11110.5 4.5 / 5 11110.5 4.5 / 5 11111 5 / 5
Deposit & Withdrawal 11110 4 / 5 11110.5 4.5 / 5 11110 4 / 5
Education & Research 11111 5 / 5 11111 5 / 5 11110.5 4.5 / 5
Assets Available 11110.5 4.5 / 5 11110.5 4.5 / 5 11110.5 4.5 / 5
Customer Service 11111 5 / 5 11110 4 / 5 11110.5 4.5 / 5
% Lose with this broker 83% of retail investor accounts lose money when trading CFDs with this provider 69% of retail investor accounts lose money when trading CFDs with this provider 78.6% of retail investor accounts lose money when trading CFDs with this provider
LeverageFlexible500:1500:1
Spread0.1 pips1.0 pips0.0 pips
Hedging Yes Yes Yes
Scalping Yes Yes Yes
Account Types
  • Standard Account (Standard)
  • XM Zero (Standard)
  • Swap-free
Islamic Account Yes Yes Yes
Trading Platforms MT4 , MT5 MT4 , MT5 cTrader , MT4 , MT5
Funding Methods Bank Transfer, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay Bank Transfer, Sofort Banking, Visa, Mastercard, Maestro, Skrill, Neteller, Bitcoin, Unionpay Bank Transfer, Visa, Mastercard, Skrill, Paypal, Unionpay, POLi, BPay
Trading Commission 4 USD / ECN Accounts 7 USD / lot - XM Zero Account From 7 USD / lot - Razor Account

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Alert Most retail CFD accounts lose money. Your capital is at risk.

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