FXTM

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FXTM 2024 Broker Review

Written by:

ForexBrokerTalk

Fact checked by:

ForexBrokerTalk

Recommended for

  • Any forex, CFD, or shares trader
  • Great for African Traders

Trust Level: Very High

  • Regulated by CMA, CySEC, FCA, FSC Mauritius, and FSCA
  • In business since 2011

Popularity

674 people visited this broker using ForexBrokerTalk within the last 6 months

Introduction To FXTM

FXTM, also known as Forextime, established in 2011, has become a leading broker in emerging and frontier markets. Headquartered in Cyprus, FXTM is regulated by several authorities including CMA, CySEC, FCA, FSC Mauritius, and FSCA, ensuring a secure and reliable trading environment. The broker offers a range of services including upgraded MT4/MT5 trading platforms, a proprietary copy trading service, and a variety of educational content and market research. FXTM is particularly notable for its commission-based Forex pricing environment and transparency.

Among the pros of FXTM are its excellent commission-based Forex pricing, upgraded trading platforms, comprehensive market research, and educational content suitable for beginners. FXTM also provides a low minimum deposit option and high leverage for traders. However, it does have some limitations, such as the absence of cryptocurrency trading and a limited choice of commodities. Overall, FXTM is recognized for adjusting to market and regulatory changes, maintaining competitive trading conditions, and offering a range of trading instruments and platforms suitable for different trader needs.

$10

Minimum Deposit

$2.00

FX Commission
(per lot)

Yes

Free Demo Account

$5

Inactivity fee after 6 months

Pros

Very well regulated

Very low commissions on the “advantage” accounts

Cons

$5 monthly inactivity fee after 6 months

No support for Crypto deposits / withdrawals

Review Video:

Coming soon!

FXTM Quick Facts

Country Headquarters

Cyprus

Instruments Offered

Forex, Metal, Indices, CFDs, Shares

Base Account Currency

USD, EUR, GBP, Nigerian Naira (Nigerian residents only)

Minimum Deposit

$10

Withdrawal Fee

$0

Account Verification Time

1 Business Day

Deposit Options

Card, bank wire, Skrill, Neteller, Perfect Money, etc

Accepts crypto deposit

No

Trading Platforms

MetaTrader 4, MetaTrader 5, FXTM Proprietary Platform

Demo Accounts

Yes

VPS Offered

Yes

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Account Opening 4 / 5

FXTM allows for fast and simple sign up. After creating an account you will simply need to verify yourself through uploading ID and residency documents. Once verified you’re all set to start trading!

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Commissions & Fees 5 / 5

Trading commissions:

FXTM offers two different types of trading accounts. Their fee structure can be found below:

Advantage Account: Commissions from $0.40 – $2.00 (volume depending)
Advantage Plus Account: No commissions, spread starting from 1.50 pips.

Additional Fees:

No fee to deposit or withdrawal. However it is important to note that FXTM does charge an inactivity fee of $5 per month after six months of account inactivity.

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Deposit and withdrawal 5 / 5

FXTM offers a great mix of digital e-wallets and local deposit options for African traders:

  • Card
  • Bank wire
  • GlobePay
  • Skrill
  • PayRedeem
  • Perfect Money
  • Neteller
  • Nigerian Instant Bank Transfers
  • Ghanaian Local Transfer
  • M-Pesa

There do not appear to be any fees to withdrawal your funds, which is great.

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Trading Platforms 4 / 5

FXTM offers the following trading platforms:

  • MetaTrader 4
  • MetaTrader 5
  • FXTM proprietary platform
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Customer Support 5 / 5

FXTM provides 24/5 multi-lingual customer support. The broker can be reaches on a variety of different places:

  • Live chat on their website
  • Email
  • WhatsApp
  • Telegram
  • FB Messenger
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Other 5 / 5

Some other cool features Pepperstone offers:

  • Free demo account (live account not required)
  • Educational content and videos
  • Proprietary copy trading platform
  • Ability to trade individual stocks
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About ForexBrokerTalk

ForexBrokerTalk is a free service which helps both new and experienced traders find the best forex broker for their needs. As an impartial party we have reviewed more than 50 different forex brokers, with new brokers being added everyday. Additionally we offer a free newsletter to keep traders up to date on the latest in forex broker news, promotions, and more! Have any questions? Click here to contact us and we’ll be happy to help.

4.5 / 5

ForexBrokerTalk Final Score

We think FXTM would be a great forex broker for any trader. Given the fact that FXTM offers local deposit options for African residents, they would be an excellent choice for African residents.

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