FXTM Review

Author By Jeffrey Cammack
Updated: May 10, 2021
Overall Rating
4.37 4.37 / 5
Rated #24 of 57 Recommended Brokers
Min. Deposit
AUD 10
Regulators
Trading Desk
Trading Cost
USD 15
Website Language
English, Chinese
Support Language
English, Chinese
AlertAccepts Australian Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage Flexible. Islamic account available. MT4 & MT5 platforms supported. Leverage offered can vary depending on country of residence, and your trading knowledge and experience. FXTM is regulated by CySEC, FCA, FSCA, and the FSC.

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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
111104/ 5
Trading Conditions
11110.54.5/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
111104/ 5
Education & Research
111115/ 5
Assets Available
111104/ 5
Customer Service
111115/ 5
Beginner Friendly
Excellent
Bonuses
FXTM Loyalty Cashback

Account Information

Base Currencies
USD, EUR, GBP, NGN
Number of FX Pairs
59
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Min. Spread
0.10 pips
Commission
4 USD / ECN Accounts
EUR/USD
0.1 pips
GBP/USD
0.3 pips
USD/JPY
0.3 pips
Max. Leverage
Flexible

Company Details

Company Name
Exinity Limited
Founded
2011
Office Locations
Cyprus, UK, Belize

Pros

  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit

Cons

  • Expensive withdrawals

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.

Scroll for more detailsPreviousNext
Display Name
Min. Deposit
Max. Leverage
Min. Spread
Commission
Cent Account
USD 10
1000:1
1.50
None
Account Details
ECN Account
USD 500
1000:1
0.10
$2.00
Account Details
ECN Zero Account
USD 200
1000:1
1.50
None
Account Details
FXTM Pro Account
USD 25000
200:1
0.0
None
Account Details
Standard Account
USD 100
1000:1
1.30
None
Account Details

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.

AlertAccepts Australian Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage Flexible. Islamic account available. MT4 & MT5 platforms supported. Leverage offered can vary depending on country of residence, and your trading knowledge and experience. FXTM is regulated by CySEC, FCA, FSCA, and the FSC.

Scroll for more detailsPreviousNext
Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.37/ 5
AUD 10
ECN/DMA
Market Maker
Commodities
Cryptocurrencies
Forex
Indicies
Metals
Equities
59
3
  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit
  • Expensive withdrawals
111104/ 5
11110.54.5/ 5
11110.54.5/ 5
111104/ 5
111115/ 5
111104/ 5
111115/ 5
81% of retail investor accounts lose money when trading CFDs with this provider
Flexible
0.10 pips
Cent Account
ECN Account
ECN Zero Account
FXTM Pro Account
Standard Account
Bank Transfer
Visa
Mastercard
Maestro
Skrill
Neteller
Bitcoin
Unionpay
4 USD / ECN Accounts
1110.503.07/ 5
USD 100
ECN/DMA
STP
Forex
Metals
28
0
  • Tight spreads
  • MT4 only
  • Limited education
  • Limited market analysis
  • Expensive withdrawals
  • High minimum deposit
1110.503.5/ 5
111003/ 5
111104/ 5
100001/ 5
110002/ 5
1110.503.5/ 5
1110.503.5/ 5
66% of retail investor accounts lose money when trading CFDs with this provider
200:1
0.10 pips
ECN Advanced
ECN Standard
ECN XL
Visa
Mastercard
Neteller
Skrill
None
1110.503.32/ 5
USD 1
ECN/DMA
Commodities
Forex
Equities
110
11
  • Wide range of assets
  • Copy trading accounts
  • Limited market analysis
  • Limited education
  • Wide spreads
1110.503.5/ 5
110002/ 5
111104/ 5
111104/ 5
111003/ 5
1110.503.5/ 5
111104/ 5
71.71% of retail investor accounts lose money when trading CFDs with this provider
1000:1
0 pips
Cent.Eurica
Cent.Standard
Insta.Eurica
Insta.Standard
Islamic
Bank Transfer
Visa
Mastercard
Skrill
Neteller
Bitcoin
Unionpay
Broker to Broker
Fees Included in Spread

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