Recommended for
- Investors and traders globally /
Trusted broker
Regulated by top-tier financial authorities
Popularity
868
people
chose this broker in the last 6 months
BrokerChooser Score
4.3/5
FXTM review summary
FXTM is an international CFD and forex broker, regulated by the UK FCA, CySEC of Cyprus and the Mauritian FSC. FXTM customer service gives fast and relevant answers. They can be contacted in several languages. You can use a lot of educational tools, including a demo account and live webinars. Account opening is fast and fully digital. On the negative side, FXTM has average CFD fees. It also charges an inactivity fee and in most cases, a withdrawal fee. The product portfolio is limited, as it lacks some asset classes like ETFs, bonds, mutual funds, etc. BrokerChooser gave FXTM a 4.3/5 rating based on analyzing 500+ criteria and testing via opening a live account.
Is FXTM a legit broker?
See how FXTM is regulated and whether you should have any concerns using it.
FXTM pros and cons
Pros
Cons
- Superb customer service
- Great educational tools
- Digital and fast account opening
- Average CFD fees
- Inactivity and withdrawal fees
- Limited product portfolio
FXTM main highlights
🗺️ Country of regulation
Cyprus (and license from South Africa), UK, Mauritius
💰 Trading fees class
Low
💰 Inactivity fee charged
Yes
💰 Withdrawal fee amount
$3
💰 Minimum deposit
$50
🕖 Time to open an account
1 day
💳 Deposit with bank card
Available
👛 Depositing with electronic wallet
Available
💱 Number of base currencies supported
4
🎮 Demo account provided
Yes
🛍️ Products offered
Stock, Forex, CFD, Crypto
Fees
FXTM’s trading fees are low for forex, but average for CFDs. There is also a withdrawal fee.
Account opening
FXTM account opening is fully digital, easy and fast. Your account will be ready within 1-2 business days. There are also a lot of account types you can choose from.
Deposit and withdrawal
FXTM offers a great variety of deposit and withdrawal options. Almost everything is available, including credit cards, bank transfer and electronic wallets. The main disadvantage is that FXTM charges a fee for most withdrawal types.
Web trading platform
The web trading platform of FXTM is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and the design is outdated.
Mobile trading platform
FXTM has a great mobile trading platform, offered by MetaTrader 4. It is well-designed and user-friendly. However, it lacks a safe login.
Desktop trading platform
In design and functionality, FXTM’s MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts on the desktop trading platform.
Markets and products
FXTM’s product selection covers forex and CFDs. Non-EU clients can also trade with real stocks. On the negative side, it lacks ETFs, mutual funds, bonds, options, and futures.
Research
From news flow to technical analysis-based trading ideas, FXTM offers a lot of research tools. On the negative side, fundamental data is not available.
Customer service
FXTM has great customer support. You can contact them in a lot of ways and they give fast and relevant answers. However, customer service is available only on weekdays.
Education
Having a demo account is always a great way to learn. Beyond that, FXTM offers several ways to educate yourself, all packed with quality materials.
Safety
FXTM is regulated by several financial authorities, including the top-tier FCA. It is a well-established brand but is not listed on any exchange, does not disclose financial information and does not have a bank parent.
