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FXTM Review

FXTM logo

Also known as ForexTime, FXTM is a global forex and CFD broker offering the MetaTrader platform and a range of accounts to suit most levels of traders.

ForexTime is an excellent option for high-frequency traders and scalpers as well as beginners looking for a demo account and educational resources.

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76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Your capital is at risk. Other fees apply. For more information, visit

FXTM is among the most popular trading platforms for forex and CFDs with their wide range of account types and platforms in addition to manual and automated trading facilities that would suit most traders.

However, FXTM are widely considered to be an expensive option for trading CFDs which I have given further consideration to. There is a lot of conflicting information out with regard to this broker and I have therefore endeavoured to fact-check some of the published details in order to ensure that this is as accurate and unbiased a review as I can achieve.

Certainly, my findings revealed that FXTM are more competitive for trading CFDs and forex than eToro or Saxo Bank, which would place them as a competitive broker when it comes to fees, however, this would largely depend on the account type you select.

I have also given consideration to the number of instruments available to trade which I found to be quite average when compared to similar brokers.

Read my full FXTM review to discover why more than 4 million traders worldwide trust this broker for all their trading needs.

FXTM Ratings


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  • Good educational courses and guides
  • Low minimum deposit
  • Several account types including a demo account


  • Withdrawal and inactivity fee
  • No proprietary trading platform
  • Limited portfolio of tradable assets
FXTM homepage

Who are FXTM?

FXTM are a global online trading broker offering forex and CFDs across more than 1000 instruments. They offer top-tier regulation on the popular MetaTrader 4 platform.

Who owns FXTM?

FXTM was co-founded in 2011 by Andrey Dashin and Olga Rybalkina with a headquarter in Mauritius. Today, there is very little information with regard to the ownership of FXTM and my attempts to secure this information with their customer support proved unfruitful.

Andrey Dashin has since founded Exinity, the group to which FXTM now belongs alongside Alpari.

FXTM markets and products

From your FXTM account you can access forex, metals, commodities, and indices with tight spreads and fast execution speeds. Sadly UK traders are unable to access any of the social trading facilities at FXTM.


At FXTM clients can trade forex 24/5 on the most popular major, minor, and exotic currency pairs with a larger range available than you would find at other brokers. Typically users can enjoy zero spreads when trading major FX pairs from the Advantage Account and commissions that start from $0.40c – $2 p/l.


Metals are available as spot trading against major currencies with spreads as low as 0.0 on AUSUSD when using the Advantage Account. There is an average selection available when compared to other brokers.


Crude oil, Brent oil and natural gas are all available for CFD trading and offer an excellent way for traders to diversify their portfolio.


Trade long or short CFDs on spot indices and mini indices on international markets including

  • GDAX (Dax 30)
  • AUS200 (Australia 200)
  • ND100m (US Tech 100 – Mini)
  • UK100 (UK100)
  • SP500m (US SPX 500 – Mini)

FXTM trading accounts

There are three FXTM account types to choose from at FXTM designed to suit all levels of trader. A demo version of each account is also available.

Micro Account

This has been developed with beginners in mind and comes with a low minimum deposit of £50. As with all the accounts available to UK residents, this can only be accessed using the MT4 platform and from here traders can only access FX and CFDs on metals.

This account allows for commission-free trading but you will be subject to a tight spread when trading on this account.

Advantage Account

This trading account has been designed for retail traders with some trading experience. There is a commission on this account from $0.4 to $2 but spreads are very tight when compared to other brokers, starting at 0.0 on the EUR/USD.

The minimum deposit on this account is higher at £500, although this is still fairly standard among brokers. The instruments you can trade are unlimited and therefore includes

  • FX
  • FX Indices
  • Metals
  • Commodities
  • Indices
  • Stock Baskets

Again, UK residents can access this on the MetaTrader 4 platform.

Advantage Plus Account

This is FXTM’s commission-free account however spreads will start at 1.50 pips on the EUR/USD which is somewhat hefty. There is a minimum deposit of £500 and you can access all the same instruments available on the regular Advantage Account.

Again, UK residents can only access this account on the MetaTrader 4 platform.

FXTM Pro Account

In order to access the pro account you need to maintain a minimum account balance of £25,000 with a minimum portfolio of 500,000 EUR, however, you will enjoy spreads from 0 pips and flexible leverage. Professional traders will waive their FSCS protection and clients must have at least one year of professional experience in the financial sector and have traded a significant amount of CFDs in the last 4 quarters.

FXTM Swap-Free accounts

Any of the accounts on offer can be converted to a swap-free account in order to align with religious requirements.

FXTM platform

There is only 1 platform available to UK investors, MetaTrader 4. This comes with a host of tools and features designed to enhance your trading experience, however, it can feel a little outdated. FXTM Invest, the proprietary platform that includes copy trading facilities is not currently available to UK residents which is a shame as this comes with experienced Strategy Managers.

The trading platform is where FXTM falls a little short of the competition in terms of choice. With only MetaTrader 4 on offer to UK residents, this could feel a little limiting for some investors.

That being said, MetaTrader 4 remains one of the most popular trading platforms available for CFD traders and it comes in a web, desktop and mobile version.

Web trading platform

This is available in a number of languages which is just one of the ways in which a trader can customise the platform to suit their needs. There is a one-step login with a lack of any biometric login but a decent number of search functions are available in addition to the following features:

  • Fully customisable charting
  • Automated trading support
  • Strategy backtesting
  • Technical and customisable indicators
  • Automated trading strategies
  • Algorithmic trading
  • Built-in indicators
  • Buy stop, sell stop, buy limit, and sell limit order types
  • Order time limits including Good ‘til cancelled and Good ‘til time

Sadly you are unable to set alerts using the web platform however you can access portfolio and fee reports that provide a breakdown of your profit-loss balance and commissions paid by you.

Mobile trading platform

Again offered by MetaTrader 4 the FXTM trader app is perhaps the strongest version on offer with an excellent design to the interface and great usability so you can access their trading services on the go. Again, biometric identification is lacking but there are some useful search functions and you can utilise all the same order types that are available on the web version of the trading platform.

Desktop trading platform

This is the final version of the platform available, which in its design and usability is very similar to the web trading platform. One of the main differences here is the ability to set price alerts in the form of push and email notifications.

FXTM education

There is a decent level of education on offer at FXTM including a free demo account and various tutorials and educational materials.

All the account options are available as a demo version which is an excellent learning aid for new traders and an opportunity for more seasoned traders to test the platform.

In addition, there are a number of educational tools including platform tutorial videos, general educational videos, webinars, local seminars, articles, and a comprehensive glossary.

FXTM Research

FXTM offer a decent amount of research material including technical analysis and a news flow.

On the FXTM website, visitors will find a Daily Market Analysis and Forex News section. This covers a range of topics including the latest market analysis, trading signals, ebooks, market updates, and FXTM Pivot Points Strategies.

There is also a podcast available, an economic calendar, forex news timeline, market analysis videos, and an overview of the research team.

There are also trading ideas which are based on technical tools in addition to some charting tools with 37 technical indicators and editor tools.

This is a fairly comprehensive offering with the only thing lacking being fundamental data.

FXTM customer service review

Whilst adequate, customer service could do with some improvement at FXTM. It is available via phone support, messenger, or telegram. Response times are average, with each question taking in the region of 5 to 45 minutes to obtain an answer. Answers were not always relevant or correct.

FXTM have a rating of just 2.8 on Trustpilot with many customers complaining about how difficult it is to make a withdrawal and many lamenting the level of support received.

Certainly, my own experience was mixed, with a response received within 5 minutes in some instances but 45 minutes at other times. I wasn’t always happy with the level of service I received. The agent didn’t seem to always know the answer to my questions and sometimes the answer was completely irrelevant.

FXTM opening an account

Opening an account is fast and can be done completely online. You can expect to be trading within 1-2 business days.

Depending on the account option you select, you will be required to provide a minimum deposit of £50 for the Micro Account and£500 for the other two account types.

To open your account simply follow these steps:

  1. Go to the FXTM website or download the app and select ‘Open Account’
  2. Enter your email address, name, country of residence, and phone number.
  3. Select the account type you wish to open
  4. Complete your personal information and provide your level of education
  5. Enter your residential address
  6. Answer some simple questions relating to your financial knowledge
  7. Upload documents to verify your identity such as a password or driving licence and a utility bill as proof of address

FXTM deposit and withdrawal

Whilst FXTM provide an excellent range of deposit and withdrawal options with zero deposit fees, there are withdrawal fees to contend with.

You can deposit money into your FXTM trading account for free using any of the following options:

  • Bank transfer
  • Credit/debit card
  • Neteller
  • Skrill

Whilst bank transfers can take several business days to appear in your FXTM account, credit and debit cards will appear instantly.

All the above methods are available for withdrawals with the following charges:

  • Credit cards – £2
  • Bank wire transfer – £5
  • Neteller or Skrill – Free

Withdrawals will usually take about 1 business day to appear in your bank account.

FXTM safety

FXTM is an international organisation which is regulated in multiple jurisdictions and in addition, they provide their clients with negative balance protection. On the negative side of the coin, there is very little company information available, including current owners, and they are not listed on any stock exchange, nor do they release any financial information about the company.

There are several regulatory bodies overseeing the service at FXTM including:

  • Financial Conduct Authority [FCA]
  • Cyprus Securities and Exchange Commission [CySEC]
  • Financial Services Commission of the Republic of Mauritius [FSC]
  • Financial Sector Conduct Authority [FSCA] of South Africa

In the UK, client funds are protected by the Financial Services Compensation Scheme up to the value of £85,000. FXTM’s Exinity Limited is also a member of The Financial Commission, which is in place to resolve disputes within the financial services industry.

FXTM fees

The fees you pay at FXTM will depend on the account type you choose. Generally, they offer low-cost trading fees but the withdrawal fee is above average.

It is important to establish that commission-free does not necessarily mean you will pay less as the fee is often built into the spread. In this instance, the commission-free account will often work out more expensive, depending on your asset class and trading volume. However, the commission-based account at FXTM is one of the most cost-effective trading accounts brokers offer with very tight spreads and it comes in three base currencies so you can avoid conversion fees.

In terms of non-trading fees, FXTM charges both a withdrawal fee and an inactivity fee of £5 per month after six months of no trading activity.

Who is FXTM suitable for?

The range of account options at FXTM would suit most levels of traders regardless of experience. However, the number of assets on offer is limited to just CFDs and forex which may hinder clients.

I would recommend FXTM to forex traders who are familiar with the MetaTrader 4 platform.

Useful Information

This section contains useful information to make your experience at FXTM as seamless as possible.

Does FXTM allow copy trading?

Whilst copy trading is featured on the FXTM Invest platform, this is not available to UK users.

How do I contact FXTM?

FXTM have a number of live chat options available within the platform and on the website including messenger, telegram, and callback. Alternatively, you can use the following:

Email:[email protected]

Phone:+44 20 3514 1251

How do I withdraw money from my FXTM savings account?

To withdraw your funds from your FXTM account simply follow these steps:

  1. Log in to your FXTM account
  2. Click ‘Withdrawal’ from the main menu
  3. Provide the relevant information including withdrawal method and or account details
  4. Enter the withdrawal amount
  5. Submit your withdrawal


Is FXTM a reliable broker?

FXTM has been a trusted trading partner for 10 years and is licenced, authorised and regulated in several jurisdictions. This makes it a reliable broker to use for trading.

How much do I need to start trading at FXTM?

With the Micro Account, you can start trading with as little as £50. Remember with CFDs it is possible to lose more than you started with.

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