FXTM Broker Broker Review

Author By Jeffrey Cammack
Updated: January 19, 2022
Overall Rating
4.33 4.33 / 5
Rated #22 of 54 Recommended Brokers
🏦  Min. DepositUSD 10
🛡️  Regulated By
💵  Trading Cost 
USD 15
⚖️  Max. Leverage2000:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 
AlertAccepts Nigerian Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 2000:1. 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.
Last updated on 19 Jan 2022
by Editorial Director Jeffrey Cammack
Jeffrey Cammack

FXScouts is Nigeria’s most trusted Forex broker review site. Our team has written 100+ broker reviews and we constantly test to maintain accuracy. This is how we review brokers.

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Our verdict on FXTM

FXTM is an established and award-winning market maker/ECN broker offering trading on Forex, commodities, metals, stocks, and indices. FXTM’s trading costs are higher than average on its two commission-free accounts, with spreads starting at 1.5 pips on the EUR/USD. However, trading conditions improve significantly on its Advantage Account, with spreads starting at 0 pips on the EUR/USD in exchange for a reasonable commission, but a high minimum deposit of 500 USD.  FXTM also charges high non-trading fees, including a commission on most withdrawal methods. 

FXTM offers support for both the MT4 and MT5 platforms in addition to its proprietary FXTM Trading App, and a wide range of trading tools, including a VPS hosting service.  

FXTM excels in its education and market analysis sections, with a good overview of Forex trading in its guides and tutorials. In addition, its daily market analysis will help beginners understand the real-world implications of news events on the Forex market and where trading opportunities lie. Beginner traders will also benefit from FXTM’s unique copy trading platform, which allows traders to copy the trades of strategy providers.

🏦  Min. DepositUSD 10
🛡️  Regulated By
💵  Trading Cost 
⚖️  Max. Leverage2000:1
💹  Copy Trading
🖥️  Platforms
💱  Instruments 

Overall Summary

111104/ 5
Trading Conditions
11110.54.5/ 5
Trading Platforms
11110.54.5/ 5
Deposit & Withdrawal
111003/ 5
Education & Research
111115/ 5
Assets Available
11110.54.5/ 5
Customer Service
111115/ 5
Beginner Friendly
Welcome Bonus

Account Information

Base Currencies
Number of FX Pairs
Crypto Pairs
Copy Trading
Hedging Allowed
Scalping Allowed
Islamic Account

Trading Conditions

Account Name
Trading Desk
From 4 USD / ECN Accounts
0.00 pips
0.20 pips
0.00 pips
Negative Balance Protection

Company Details

Company Name
ForexTime Limited
Website Language
English, Chinese
Support Language
English, Chinese
Office Locations
United Kingdom, Cyprus, Belize


  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit
  • Copy trading accounts


  • Expensive withdrawals

Is FXTM a Scam?

No, we consider FXTM a safe broker to trade with.

The FXTM brand was founded in 2011 and is headquartered in Cyprus.  It is authorised and regulated in various jurisdictions, including the Cyprus Securities and Exchange Commission (CySEC) since 2012, the UK Financial Conduct Authority (FCA) since 2017, and the Financial Services Commission (FSC) of the Republic of Mauritius, which handles most of FXTM’s international business outside of Europe.  See below for a list of FXTM registered companies:

  • ForexTime Limited is regulated by the Cyprus Securities and Exchange Commission (CySEC), license number 185/12.
  • ForexTime Limited is registered with the UK Financial Conduct Authority, licence number 600475.
  • Exinity Limited is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License, license number C113012295.

Nigerian clients will be trading under the subsidiary, Exinity Limited, regulated by the FSC Mauritius, which allows brokers to offer their clients higher leverage.  Unlike top-tier regulators such as the FCA and ASIC, the FSC does not mandate that companies segregate client funds, provide negative balance protection or participate in investor schemes. FXTM does, however, segregate client funds from its operating capital in various banking institutions, and will not use customers’ funds in its operation or any other investment, ensuring their protection at all times.  Note that negative balance protection is available on a discretionary basis, and requests are evaluated case by case.

Exinity Limited is also a member of the Financial Commission, an international organisation dedicated to resolving disputes in the Forex industry. Accordingly, the Compensation Fund will only cover judgments that have been made by the Financial Commission of up to €20,000 per case.

FXTM Regulation Mauritius

FXTM has won multiple international awards from the wider industry, further burnishing its credentials as a secure broker. Recent awards include:

  • Best Trading Experience 2020/2019 (World Finance)
  • Best European Forex Affiliate Broker Programme 2019 (Global Forex Awards)
  • Best Trading Conditions 2019 (World Finance Awards)
  • Best investment Broker 2019 (World Finance Awards)
  • Best Forex Education Provider Africa 2018 (International Business Magazine)
  • Best Trading Conditions 2018 (World Finance).

With many years of responsible operation, regulation from some of the strictest authorities in the world, and a long list of awards for best trading experience, FXTM is considered a reliable and safe Forex broker.

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Group Regulators
Trading Desk
Year Founded
Office Locations
Additional Fees
Market Maker
United Kingdom, Cyprus, Belize
Credit card & bank wire withdrawal fees

FXTM Trading Fees

FXTM’s trading fees are higher than other brokers on its commission-free accounts but are competitive on its ECN account.  

FXTM offers three live account types, and trading costs vary depending on the account type chosen by a trader (for more detail on FXTM’s account types, click here).

Despite the variation, overall trading costs are much higher than average on its commission-free accounts but are lower than average on its ECN Account. However, the accounts themselves do offer different benefits in terms of trading strategies and minimum deposit.

FXTM’s accounts were assessed to compare the costs to those of other brokers.  The costs were evaluated based on the trading fees on one lot (100 000 USD) on the EUR/USD, including the spread and commission:

Trading Cost Formula: Spread x Trade Size + Commission = Total Cost in Secondary Currency (USD)

FXTM Accounts NGN

As you can see from the table above, in most cases, FXTM’s trading costs are built into the spread – though the Advantage Account Spread account does carry a 4 USD commission and tighter spreads. Spreads are variable at FXTM, meaning they will get wider or tighter depending on trade volume and market volatility.

If you hold a position overnight with FXTM, a swap fee will also be charged, which is the interest paid on a leveraged position.  A leveraged position is the money borrowed from the broker to trade.  For example, on the EUR/USD, the swap fees are 0.03 on a short position and 0.69 on a long position.  While FXTM publishes its overnight financing fees (swap fees) for each instrument, it does not clarify how these fees are derived.   

The average cost of trading one lot of EUR/USD at similar Forex brokers tends to be 9 USD or lower. Compared to other brokers, FXTM’s trading fees are much higher than average except for its Advantage Account, where the costs are significantly lower than average – though this account does require a 80,000 NGN minimum deposit, making it inaccessible to most traders.

Non-Trading Fees

FXTM has high non-trading fees compared to other similar brokers.

FXTM charges an inactivity fee of 5 USD per month after six months of account dormancy, and most withdrawal methods also have a fee. As a plus, there are no account or deposit fees.

The withdrawal fee varies based on your country of residence, the method you use, and your preferred currency.  For example, Nigerians will have to pay a fee of 1 USD for a bank withdrawal.   

Opening an Account at FXTM

Opening a trading account at FXTM is a fully digital process and is hassle-free compared to other brokers.

All Nigerian traders can open an account at FXTM but will need to meet all the minimum deposit amounts to do so; these are:

  • Micro Account: 10,000 NGN
  • Advantage Account: 80,000 NGN
  • Advantage Plus Account: 80,000 NGN

Creating an account is straightforward, the process is fully digital, and accounts are usually ready within one to two business days.  

How to open an account at FXTM:

  1. First, click on “Open an Account.”
  2. FXTM’s intake form requires clients to fill in their personal details (including name, country of residence, email address, birth date, and level of education) and provide a telephone number so that FXTM can send a verification PIN code. 
  3. Clients are then required to fill in their financial information and answer questions about their trading knowledge.
  4. Clients are required to choose their preferred trading account.  
  5. FXTM requires individuals to submit a copy of their National ID or Passport with the signature page, as well as a copy of a recent utility bill or bank statement.  
  6. Documents can be scanned or sent through as a high-quality digital camera picture.
  7. We advise you to read FXTM’s risk disclosure, customer agreement, and terms of business before you start trading. 

Once all the documents have been received, the account will be ready for trading within one day.  

FXTM’s account opening process is fast, hassle-free, and fully digital compared to other similar brokers.  

FXTM Trading Account Types

FXTM offers a similar number of trading accounts compared to most other brokers, which are suitable for beginners and more experienced traders.  

FXTM has three different account types suited to both beginner and experienced traders alike.  Beginner traders are inexperienced traders who have never traded before or have been trading for less than a year.  Beginner traders often do not want to risk trading large sums of money and generally will not be able to trade full time during the workweek.   

Accounts with lower minimum deposits and which allow trading in micro-lots are generally more suited to beginner traders.   However, spreads on these accounts are often wider than those with higher minimum deposits.  Experienced traders often prefer accounts with higher minimum deposits and tight spreads.  

A market maker/ECN broker, FXTM offers two live market execution accounts and one instant execution account. Maximum leverage varies according to account, with flexible leverage of up to 1000:1 available on the Micro Account and 2000:1 on the market execution accounts. Hedging, scalping, and algorithmic trading is unlocked on all accounts, and they can all be converted into Islamic swap-free options.

  • Micro Account

This account is aimed at beginner traders with a low minimum deposit and instant execution. Only available on MT4, this account features micro-lots and spreads that are similar to Micro Accounts at other brokers – starting at 1.5 pips on the EUR/USD, which is around the average offered by other brokers on Micro accounts. Traders with this account will also be unable to trade stocks or stock CFDs, and leverage is restricted to 1:1000.  

  • Advantage Plus Account

The first of two market execution accounts at FXTM, this account is commission-free but spreads start at 1.5 pips on the EUR/USD, which is wider than most other brokers. Available on both MT4 and MT5, this account provides floating leverage up to 1:2000 on Forex pairs and a minimum deposit of 80,000 NGN. Stock trading and stock CFD trading are only available via the MT5 platform.

  • Advantage Account 

A good account for more experienced traders, spreads start at 0.0 pips on the EUR/USD, which is tighter than other similar brokers, and instead of a spread markup, traders will pay a variable commission of 0.4 – 2 USD per side, depending on volume traded. In addition, traders can choose between MT4 and MT5 on this account, but stock and stock CFD trading is only available on MT5.  Leverage is also set at a maximum of 1:2000 on this account.  

  • Demo Account

Traders can practice trading risk-free using all trading strategies in a real trading environment on FXTM’s demo account. In addition, traders can increase the virtual balance on their demo account from within the MYFXTM portal.  Demo accounts will remain active as long as traders login to the trading platform at least once every 14 days.

  • Islamic Swap-free Accounts

All accounts are available as Islamic swap-free options.   When the swap-free mode is enabled, the account will not accrue interest for carrying positions overnight. Therefore, it is perfectly suitable for Muslim traders as it complies fully with the no-riba tenets of Sharia law.  The swap-free option is usually available for seven days, depending on the trading instrument you are trading. If you keep positions open more than the swap-free allowance days, the swap-free fee (daily fee) will be charged, which is 12.90 USD per day.

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Display Name
Min. Deposit
Max. Leverage
Min. Spread
USD 500
Average of $0.40 - $2 based on volume
Account Details
Advantage Plus
USD 500
Spread Only
Account Details
Micro Account
USD 10
Spread Only
Account Details

The Micro Account is the only account with instant execution –  FXTM acts as the middleman between the trader and the market, and traders may be sent a requote. This means that traders won’t necessarily be able to open a position at the exact price requested initially, which is why some traders prefer market execution, where orders are executed in milliseconds at the best market price.

Both market execution accounts provide access to the entire range of FXTM’s trading assets, including currency pairs and FX indices, commodities, indices, metals, stock CFDs, stock baskets, and stock trading. Note that on the Micro Account, which is only available on MT4, traders will not be able to trade stock CFDs, stock baskets, stocks, and FX indices. For more detail on FXTM’s assets, click here.

Overall, FXTM’s trading costs and minimum deposit requirements are higher than other similar brokers but it provides a range of account choices for beginners and more experienced traders.

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Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
11110.54.5/ 5
1.50 pips
USD 15
0.00 pips
0.20 pips
0.00 pips
110002/ 5
3.00 pips
USD 30
3.00 pips
3.00 pips
3.00 pips
111104/ 5
1.00 pips
USD 10
1.00 pips
2.00 pips
1.00 pips

Deposits and Withdrawals 

FXTM offers a wide variety of deposit and withdrawal methods, but its withdrawal fees are higher than other similar brokers.  

A well-regulated broker, FXTM ensures that all Anti-Money Laundering rules and regulations are followed. As such, all non-profit funds are returned to the original deposit source. No matter your deposit method, the withdrawal of all profits must be made by bank transfer to a bank account in your name.

FXTM offers a number of deposit and withdrawal methods:

  • Credit card/Debit cards (Visa/Mastercard/Maestro): Deposits are instant and free.  Withdrawals are charged at 2 EUR/3 USD/2 GBP and are processed in 24 hours.
  • Bank Transfer: Nigerian local bank transfers are supported, and no commission is charged on deposits, but 1 USD is charged for withdrawals.  Deposits are processed instantly, but withdrawals take up to 24 hours.
  • E-wallets: FXTM supports Neteller, Skrill, FasaPay, and Perfect Money.  Deposits are instant and free.  A commission of between 0.5% and 2% is charged on withdrawals, and these are processed in 24 hours.  
  • International Bank Wire: No commissions are charged on deposits, and these are processed within 3-5 days, but withdrawals are charged at 30 EUR.  Withdrawals are processed in 24 hours. 

Overall, FXTM provides various payment methods, and its processing times are quicker than other similar brokers.  The main drawback is that fees are charged on most withdrawal types.

FXTM withdrawals

FXTM’s Base Currencies (Trading Account Currencies)

FXTM offers a limited number of base currencies compared to its competitors, but it offers NGN accounts.

At FXTM, you can only choose from four base currencies: USD, EUR, GBP, and NGN.  NGN is only available for Nigerian residents.   

This is an advantage for Nigerians who will likely have bank accounts denominated in NGN and will thus not have to pay conversion fees.  Conversion fees can make trading very expensive and are usually not presented on the fee report but affect your profitability.

However, it should be noted that for traders that trade in large volumes (more than 10 lots a month), it is better to open an account denominated in USD, especially for trading on assets such as the EUR/USD. This is because when trading a USD quoted currency pair with an NGN account, there will be a small conversion fee for every trade made.

FXTM Trading Platforms

With both MT4 and MT5 on offer, in addition to its proprietary FXTM Trader app,  FXTM’s platform support is good compared to other Forex brokers.

FXTM supports both the Metatrader 4 and Metatrader 5 platforms in addition to its proprietary FXTM Trader App. 

FXTM offers MT4 – the most popular trading platform globally – and MT5 – the latest version of the industry standard. In addition to the desktop applications, FXTM also offers MT4 and MT5 WebTerminal, which are browser-based versions of the platforms, along with mobile and tablet versions of both iterations. The advantages of using MT4 are numerous, but most centre around the community support and the number of users that the tool boasts. 

The primary difference between MT4 and MT5 is that MT4 is a Forex-only platform, while MT5 is a multi-asset trading solution. With MT5, you can trade not only Forex but also stocks, stock indices, and precious metals. MT5 also has a built-in news feed and an economic calendar, and trades can be made on a chart.

Metatrader 4 

Developed by MetaQuotes in 2002, MT4 is still the most popular CFD trading platform in the world.  Although the platform’s interface is now dated, MT4 is still widely recognised for its fast execution speeds, a wide range of charting tools, algorithmic trading, and customisability.  Other features of MT4 include:

  • Supports the creation, modification, and utilisation of automated trading strategies.
  • Supports MQL4 programming language.
  • Algorithmic trading, which allows any trading strategy to be formalised and implemented as an Expert Advisor. 
  • Allows traders to develop their own custom indicators.
  • Superior charting tools in nine timeframes
  • 31 graphical objects
  • 30 built-in indicators
  • Three order execution types.
  • Four types of pending orders

Also available through MT4 are six add-ons.  Most brokers only provide the out-of-the-box version, which does not provide all the necessary functionality.  These tools include the Orders Indicator, the Pip Value Calculator, the Pivots SR Levels, the Spread Indicator, the Market Data to CSV, and the Day Bar Info Indicator. FXTM also offers its FXTM Pivot Points strategy, available as an expert advisor (EA) running on the MT4 trading platform (see the Trading Tools section for more).

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Platform Choice
Copy Trading
11110.54.5/ 5
111104/ 5
111104/ 5


Metatrader 5

MT5 is more powerful and faster than MT4, especially when it comes to back-testing functionality for automated trading algorithms.  MT5 also has a built-in news feed, market depth indicator, economic calendar, and trades that can be made on charts. Additional features of MT5 include:

  • 21 timeframes
  • 38 technical indicators
  • 44 graphical objects
  • Six pending order types
  • Multi-threaded strategy tester
  • Economic Calendar


The benefit of brokers offering third-party platforms such as MT4 and MT5 is that traders can use the platforms should they choose to migrate to another broker.  However, MT4 and MT5 are often not as user-friendly as platforms that are developed in-house.   

FXTM also offers its proprietary FXTM Trader, which is available as a mobile app on both Android and iOS (click here for more details on mobile trading).

Mobile Trading

FXTM’s mobile trading platforms are average compared to other Forex brokers.

MetaTrader and FXTM’s proprietary trader app are freely available on both Android and IOS mobile phones and tablets.  The advantage of using the MetaTrader platform is the cross-device and multi-broker functionality, making it easier to change brokers or use multiple brokers.  

The FXTM MT4 and MT5 apps allow traders to work from anywhere, with nine timeframes, 30 indicators, and interactive currency charts. Functionality to close and modify existing orders, calculate profit/loss in real-time, and tick chart trading further empowers traders while on the move.  See below for more details on FXTM’s Trader:

FXTM Trader App

FXTM has developed its mobile trading platform, the FXTM Trader app.  The mobile app allows traders to access over 250 instruments, including currency pairs, spot metals, share CFDs, commodities, and indices.  Features of FXTM’s Trader app include:

  • Traders can access the latest live updates 24/5 and easily monitor preferred assets.
  • The ability to manage all FXTM’s accounts, and trading action.
  • Being able to easily keep track of trades with details of balance, margin, and profit.
  • The ability to deposit, withdraw and monitor funds.

Copy Trading

FXTM offers an award-winning copy trading service.

FXTM provides a powerful copy trading system, which is helpful for beginner traders who lack the expertise and skills in CFD trading.  

FXTM Invest allows investors to choose a strategy manager from a list of top-rated traders.  Once an investor makes a minimum deposit of 100 USD/GBP/EUR, the Investor account will be activated, and clients can then copy the trades of the strategy managers.  With this system, investors can follow suitable strategies and receive a portion of the profits, and Strategy Managers can earn extra money by generating profits for their investors.  At the time of writing, there are over 600 strategy managers to choose from, so there is plenty of choice.

FXTM Invest is not available for clients of Forextime UK Limited.

Trading Tools 

FXTM offers a good range of trading tools compared to other similar brokers. 

FXTM’s trading tools include various sentiment indicators, technical indicators, a currency converter, a profit calculator, MT4 trading indicators, and a VPS service.

  • FXTM Pivots Points Strategy: Allows traders to identify market sentiment and potential profit opportunities.  Three chart types are available in eight timeframes, and traders can choose between 5 calculation methods, including Standard, Fibonacci, DeMark, Camarilla, and Woodie Pivot Point.  Traders will also receive live updates of prices from FXTM’s head of education.
  • FXTM Trading Signals: Combines a range of tools into one, including popular technical indicators, a choice of 4 take-profit levels, and protective stop-loss recommendations.  
  • Currency Converter: FXTM assists traders in viewing how much their currency is worth in another foreign currency.  This tool is useful for identifying how much local currency needs to be deposited to meet the various minimum deposit requirements.  
  • MT4 Trading Indicators: FXTM offers six MT4 add-ons to assist traders in optimising their trading strategies.  These include an Orders Indicator, a Pip Value Calculator, Pivots SR Levels, a Spread Indicator, Markets Data to CSV, and a Day Bar Info Indicator.  
  • VPS: FXTM clients with a minimum deposit of 5000 USD can also subscribe to a free VPS hosting service provided by external third-party providers. VPS services ensure trades are never disrupted by technological or connectivity issues, such as load-shedding or internet service failure. 
  • FXTM Invest Profit Calculator: The profit calculator helps traders calculate the potential profits accrued by following a strategy provider. 

FXTM’s Financial Instruments

FXTM’s CFD offering lags behind many of its competitors.  This holds true for its stock CFD offering, in addition to the number of commodities on offer.  It also lacks products such as futures, bonds, cryptocurrencies, and ETFs.

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Financial Instrument
Number of Assets
Stock CFDs
2000:1 Limited to 1000:1 on the Micro Account
  • Forex pairs: FXTM offers 62 Forex pairs to trade, including majors, minors, and exotics such as USD/ZAR and ZAR/JPY. This is around the average number of pairs offered by most brokers. Maximum leverage is 1:2000 but limited to 1000:1 on the Micro Account.
  • Spot Metals: FXTM offers five silver and gold crosses with the EUR, USD, and GBP. This is an average selection of metals compared to other brokers. Maximum leverage is 1:500 on spot metals.
  • Spot Indices: FXTM offers 11 spot indices, including the UK100, Dax30, AUS200, and the Wall Street 30 (Mini). This is a narrow range of indices compared to other brokers. Maximum leverage is 1:500 on spot indices.
  • Stock CFDs: FXTM offers 172 stock CFDs to trade, including popular US tech companies and multinational energy companies. This is a smaller range than is offered by other similar brokers. Maximum leverage is up to 1:500.
  • Commodities: FXTM offers three of the most common spot commodities to trade, including UK Brent, US Crude, and US Natural Gas. Maximum leverage is 1:200.
  • Real Stocks: FXTM offers commission-free real stocks for non-EU clients. These include the likes of NASDAQ, NYSE, and the Hong Kong Stock Exchange.

Overall, FXTM’s range and depth of trading instruments are limited compared to many other brokers.  

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Fx Pairs
CFD Investments
Stock CFDs

Market Analysis Material

The market analysis section at FXTM is comprehensive, frequently updated, and very useful for traders of all experience levels.

FXTM provides a great variety of market research, available in several locations:

  • Through the MetaTrader trading platform.
  • “Trading Services” section in MyFXTM: FXTM provides trading ideas based on technical tools.
  • On FXTM’s website, traders can find a comprehensive selection of market analysis materials, including: 
    • Daily Market Analysis: A daily look at what will be affecting the markets over the day, written by a senior member of the FXTM analysis team.
    • Forex News Timeline: A constant news feed of events that will affect the Forex market.
    • Market Analysis Videos: This is a library of FXTM’s weekly video roundup of the market and what to look for in the coming week. It is updated every Monday. 
    • FXTM also has a bio page for each of their market analysts with links to all the articles they have written alongside their social media profiles.

Overall, FXTM has an excellent analysis section, written or curated by Forex experts, and full of detail and interesting leads for new trading opportunities.

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Display Name
Research Team
Daily Market Commentary
Forex News
Analysis Webinars
In House
3rd Party

Educational Material

The education section at FXTM is large, well-structured, and in-depth, and more useful for beginners than the material available at other brokers.  

FXTM has a world-class education section available for free in 22 languages and a comprehensive market research and analysis unit. Additionally, FXTM is one of the few brokers with weekend support, which is helpful for beginner or part-time traders.


  • Beginners Guide to Forex Trading: This guide introduces traders to Forex terminology and answers common FAQs for those just getting started. It is a good overview of Forex trading and links to more detailed sections of the Education mini-site so new traders can focus on what they want to learn.
  • Ebooks: Ebooks are written by an experienced FXTM staff member and cover topics such as the habits of successful traders and bearish candlesticks. To access these, you will be required to register but won’t need a live account.
  • Forex Trading Strategies: A good overview of common strategies used in Forex trading and the indicators many traders use to make these strategies work for them.
  • Short Education Videos: These are aimed at new traders and are all between one minute and three minutes in length, perfect for beginner traders who want to get up to speed quickly. All are freely available on YouTube.
  • Education Videos: A set of videos for both beginner and experienced traders. These are longer and more detailed than the Short Education Videos and are also available on YouTube.
  • Education Articles: A library of free educational articles written by FXTM’s Head of Education; the pieces are well-written and concise, even when tackling complex topics. Example topics include Bearish Trend Reversals and Harmonic Patterns.
  • Forex Glossary: This is a comprehensive glossary of Forex terms – very useful for new traders.
  • Forex Trading Seminars: FXTM regularly hosts live workshops across the globe where you can learn directly from experienced traders in your language. Here you can see the current schedule and sign up for events. Be aware that to attend, you will need a live account with a minimum 200 USD deposit.
  • Forex Trading Webinars: FXTM also hosts frequent webinars in multiple languages. These require registration with FXTM but not a live account.

FXTM’s education section is an excellent resource for new traders, and much of it is available for free.

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Beginner Course
Advanced Course
Well Structured Education
Education Quality

Customer Support

With weekend support, FXTM offers excellent customer service compared to other similar brokers

Support is available Monday to Friday: 24 hours, Saturday: 11:00-16:00 and Sunday: 12:00-20:00  (GMT+2/GMT+3 during Daylight Saving Time) in over 22 languages via email, live chat, email, telephone, and messenger services (including Whatsapp, Viber, and Telegram).  Nigerians will also be pleased to note that FXTM offers local customer support.  

The customer support team was able to answer all our questions quickly and to our satisfaction.  They also provided links and extra reading material where appropriate.

FXTM in their own words


Evaluation Method

We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process that includes a detailed breakdown of the FXTM offering. Central to that process is the evaluation of the reliability of the broker, the platform offering of the broker and the trading conditions offered to clients, which are summarised in this review. Each one of these is graded, and an overall score is calculated and assigned to the broker.

FXTM Risk Statement

Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. FXTM would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.


FXTM is a well-regulated market maker/ECN with a good reputation that offers multi-asset trading.  Both MT4 and MT5 are supported in addition to the FXTM Trading app and a wide range of trading tools.  Trading conditions are poor on its commission-free accounts but improve significantly on its ECN account. FXTM charges high non-trading fees, including commissions for withdrawals, but offers an excellent selection of educational and market analysis materials and an excellent copy trading platform to get new traders started.

AlertAccepts Nigerian Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 2000:1. 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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