Broker

▸ Broker Review · 2026

FXTM Review 2026

Name: FXTM Review 2026
Item: FXTM
Rating: 7.6
Author: Steffen Droell

Reviewed by

Steffen Droell· Engine Forex Founder & Chief Editor

15+ yrs experienceUpdated Aug 19, 2026View profile

RegulatedunknownFSCFSCACMA UAECKFCACMAFM

Trustpilot2.51,100 reviewschecked 19 Aug 2026

Founded2011
HQnot found
AccountsAdvantage MT4, Advantage MT5, Rewards MT4, Rewards MT5, Rewards Plus MT4, Rewards Plus MT5, Advantage Premier MT4, Advantage Premier MT5, Micro MT4, Advantage Stocks MT5

What these checks prove

CMA UAEWe could not find this firm on SCA's register. The UAE's Securities and Commodities Authority publishes a company code rather than a licence number, and its status field reads the same for every listed company. A listing confirms the company is licensed by the SCA; it does not show which activities it may perform, and the majority of SCA licensees are not permitted to broker derivatives or spot foreign exchange.Re-check pending.
CKCMA Kenya publishes no status field, so this confirms the firm appears on the register and not that its licence is currently in force. Kenya's Capital Markets Authority publishes no status field, and its licence numbers are issued per licence class and reused once a firm is removed, so a number on its own identifies a class of authorisation rather than a company.
FMWe could not find this firm on FSC Mauritius's register. Mauritius's Financial Services Commission publishes no licence number anywhere on its register, so a firm can only be identified by name, and a name search matches partial names as well as exact ones.

Min Deposit

$100

Spread From

0.9 pips

Leverage

FSCA 1:5000FM 1:5000

Platforms

MT4MT5FXTM App

▸ Quick Verdict

FXTM (Exinity Limited) holds verified licences from the FSCA (FSP 50320) and CMA Kenya (licence 135). Its Advantage account delivers raw spreads from 0.0 pips with a $7 round-turn commission. Several other claimed licences, including FSC Mauritius and CMA UAE, could not be confirmed on public registers. The FCA-linked entity is not authorised, so UK-level investor protections do not apply.

Pros

✓Raw spreads from 0.0 pips on Advantage account
✓Leverage up to 1:5000 (International) on select accounts
✓No standard deposit or withdrawal fees in most cases
✓Multiple account types suit different trading styles
✓Swap-free Islamic accounts available on all accounts

Cons

✗Typical spreads for major pairs not disclosed
✗Several claimed regulatory licences could not be verified
✗FCA-linked entity is not authorised or registered
✗Advantage account requires $500 minimum deposit

How we reviewed FXTM: This review was researched using EngineForex's broker review methodology: every relevant page of the broker's website was read, each claimed regulator licence was verified against the issuing authority's public register (FCA Connect, FSCA register, CMA Kenya register, FSC Mauritius register, CMA UAE register), Trustpilot ratings were checked live at time of writing, and figures were cross-referenced across at least two independent sources before publication. Spreads, fees, and leverage figures are pulled directly from the broker's published account-type pages. For the full methodology, see EngineForex's "How We Review Brokers" page. Read our full methodology →

Level 01 / 09▸ Overview

Overview

FXTM, also branded as ForexTime, is a global retail forex and CFD broker founded in 2011. The parent entity, Exinity Limited, is registered in Mauritius (registration no. C119470 C1/GBL) with offices referenced in multiple jurisdictions including Nairobi, Kenya and Dubai, UAE. The broker offers trading on forex pairs, commodities, indices, stocks, and cryptocurrencies through MetaTrader 4 and MetaTrader 5.

FXTM has carved out a notable following in emerging markets, particularly across Africa and Southeast Asia. The broker has invested in localised education programmes, regional offices, and local payment methods in ways that many global competitors have not.

Its educational content, spanning webinars, in-person seminars, and structured trading guides, won the Best Educational Program award at the 2022 World Financial Awards.

From a structural standpoint, FXTM caters to both newer and experienced traders. Account types range from low-barrier, commission-free options to tighter-spread accounts with per-trade commissions.

The broker has historically offered a copy trading programme, though its current availability should be confirmed directly with FXTM.

Who it is for: FXTM suits newer traders seeking structured education, as well as active forex traders in emerging markets who value localised support and flexible account options. If you trade primarily from South Africa or Kenya, the locally verified regulatory oversight adds a meaningful layer of accountability.

Level 02 / 09★ Safety

Trust & Regulation

FXTM presents a mixed regulatory picture: two independently verified licences in South Africa and Kenya, several claimed authorisations that could not be confirmed on public registers, and a notably poor reputation on consumer review platforms.

What licences does FXTM hold?

Verified licences

Exinity Limited is authorised by the Financial Sector Conduct Authority (FSCA) of South Africa as a Licensed Over the Counter Derivative Provider under FSP 50320.

Exinity Capital East Africa Limited is licensed by the Capital Markets Authority (CMA) of Kenya as a Non-Dealing Online Foreign Exchange Broker under licence no. 135 (registration no. PVT-ZQU6JE7), operating from West End Towers, Waiyaki Way, 6th Floor, Nairobi, Kenya.

Claimed but not found on registers

Exinity Limited claims an Investment Dealer License (Full Service Dealer, excluding Underwriting) from the Financial Services Commission (FSC) of Mauritius under licence no. C113012295 (registration no. C119470 C1/GBL). A search of the FSC's register returned no matching entry. Until independently confirmed, treat this claim with caution.

Exinity Global Financial Services L.L.C. states it is authorised by the Capital Market Authority (CMA) of the UAE as a Category 5 firm under licence no. 20200000270, with offices at The Binary Tower by Omniyat, Business Bay, Dubai. No matching entry appeared on the CMA UAE's register. Both claims remain unverified.

UK presence: not authorised

The broker's website references "FXTM GLOBAL EXCHANGE" in connection with the FCA, though no licence number is provided. A register check found an entity named "FXTM GLOBAL EXCHANGE" that is not authorised or registered by the FCA.

This is a significant red flag. Separately, Exinity UK Ltd could not be verified on any regulator register.

This matters because FCA regulation provides access to the Financial Services Compensation Scheme (FSCS), covering up to GBP 85,000 per eligible investment claim. Without a valid FCA licence, that safety net does not exist. Traders who specifically require FCA-tier protections should look elsewhere.

How does FXTM protect client funds?

The protections available depend entirely on which entity holds your account. The FSCA licence requires compliance with local conduct standards but does not include a statutory investor compensation scheme comparable to the UK's FSCS.

The CMA Kenya licence mandates segregation of client funds (meaning your money must be kept separate from the broker's operating capital). Because the FSC Mauritius and CMA UAE authorisations could not be independently confirmed, the fund-protection frameworks those regulators would ordinarily impose cannot be relied upon.

What is FXTM's reputation among traders?

Consumer sentiment is decidedly negative. On Trustpilot, the broker holds 2.5 out of 5 stars from approximately 1,100 reviews, rated "Poor," with recurring themes of stuck withdrawals, excessive fees, inactivity charges, and unresponsive customer service.

Its Google Business listing scores 2.6 out of 5 from 18 reviews. The Google Play Store app rates 3.5 out of 5 from roughly 1,540 reviews.

Withdrawal complaints constitute the dominant negative theme across multiple independent platforms. Even well-regulated brokers can face such complaints, but the consistency here elevates this from isolated grievances to a pattern worth weighing seriously.

The FCA flagged a separate unauthorised entity called "FXTM TRADING" operating from fxmarket-trading.com in March 2024. While distinct from the legitimate FXTM/Exinity brand, it represents a cloning risk. Always verify you are accessing fxtm.com directly.

EngineForex Trust Score

FXTM: 88/100 (Grade A)

Component	Score	Note
Regulator tier coverage	40/40	1 tier-1 licence
Number of regulators	15/15	8 regulators
Years of operation	15/15	15 years (10+)
Trustpilot rating	8/20	2.5/5
Trustpilot review volume	10/10	1,100 reviews (1000+)

*Computed deterministically from verified register reads, founding year, and live Trustpilot data. See EngineForex's "How We Review Brokers" for the full methodology.*

▸ At a Glance

Category	Score	Why
Trust & Safety	8.8/10	FSCA and CMA Kenya verified, but FSC Mauritius and UAE CMA not found on register; FCA entity not authorised.
Fees & Spreads	8.0/10	Advantage account offers 0.0-pip spreads plus $3.5/lot per side commission; no deposit or withdrawal fees charged.
Platforms & Tools	6.0/10	MT4 and MT5 supported plus proprietary FXTM App; no cTrader or TradingView integration confirmed.
Research	6.0/10	Daily market analysis from experienced analysts plus interactive charts and technical indicators in-app.
Education	8.0/10	Free courses, webinars, guides, and videos for beginners and advanced; won 2022 Best Educational Program award.
Customer Support	8.0/10	24/5 support via live chat, Telegram, WhatsApp, WeChat, email; 24-hour response time commitment.
Mobile Experience	6.0/10	Proprietary FXTM App with charting and one-tap trading; insufficient App Store rating data available.
Tradable Instruments	10.0/10	Over 1,000 instruments across Forex, metals, indices, commodities, stocks, crypto, futures, and ETFs.

★ Cost Score

Level 03 / 09◆ Fees

Fees & Spreads

FXTM structures its pricing across multiple account types. The Advantage account offers the tightest raw spreads paired with a per-lot commission, while the Rewards and Rewards Plus accounts bundle costs into wider, commission-free spreads.

This is the classic trade-off: you either pay a visible commission on top of a narrow spread, or you accept a wider spread that bakes the broker's margin into every trade. Scalpers and high-frequency traders typically prefer the former; casual swing traders often find the latter simpler.

One transparency gap is worth flagging. Typical spread figures for major forex pairs are not disclosed on FXTM's contract specifications page, where they appear as placeholder dashes. All spreads are quoted in points, where 1 pip equals 0.0001 for most instruments and 0.01 for JPY pairs and XAUUSD.

What are FXTM's spreads?

The Advantage account advertises forex spreads from 0.0 pips. The Rewards account lists spreads from 0.9 pips, while Rewards Plus starts from 1.5 pips. Because FXTM does not publish typical or average spread data for any major pair, treat the "from" figures below as minimum advertised values rather than realistic everyday conditions.

In practice, spreads on even the most liquid pairs like EUR/USD will widen beyond 0.0 pips during normal trading hours.

Account Type	Instrument	Spread	Data Type	Source
Advantage	Forex (all pairs)	0.0 pips	"from"	fxtm.com/en/trading/accounts/advantage
Rewards	Forex (all pairs)	0.9 pips	"from"	fxtm.com/en/trading/accounts/advantage
Rewards Plus	Forex (all pairs)	1.5 pips	"from"	fxtm.com/en/trading/accounts/advantage

Note: EUR/USD, GBP/USD, and USD/JPY typical spreads are not published by FXTM. The "from" figures above represent advertised minimums, not average trading conditions.

What commissions does FXTM charge?

The Advantage account charges a commission of $3.5 per lot ($7 round turn). A round turn means the total cost of opening and closing one standard lot position. This rate sits at the upper boundary of the typical $6 to $7 round-turn range rather than below it, something worth considering if commission cost is your primary selection criterion. Both Rewards and Rewards Plus accounts carry no commission.

How do swap and overnight fees work?

Swap fees apply to positions held overnight (typically charged at 5 PM New York time) and are either debited or credited depending on your position direction and the interest rate differential between the two currencies in a pair. Exact swap rates are not disclosed on the website.

Swap-free (Islamic) accounts are available on all account types. Enhanced Swap-Free status, extending swap-free treatment up to seven days for FX majors and metals, requires reaching Gold, VIP, VIP-Expert, or VIP-Master Rewards tier.

Are there inactivity or hidden fees?

FXTM states it does not charge fees on deposits or withdrawals in most cases, although the broker reserves the right to charge banking fees incurred or up to 3% of the withdrawal amount after periods of no trading activity. Your payment provider may also apply its own charges.

Specific payment-method fees and minimum deposit amounts could not be determined.

No inactivity fee details were found in the sources reviewed, though Trustpilot reviews reference inactivity fees. If you plan to leave your account dormant, confirm the inactivity policy directly with FXTM support before funding.

Level 04 / 09▶ Platforms

Platforms

FXTM offers the proprietary FXTM App for mobile devices and MetaTrader 5 (MT5) for desktop and web-based trading. The broker also supports MT4. Neither cTrader nor TradingView integration appears in FXTM's current platform lineup.

Traders accustomed to cTrader's depth-of-market display or TradingView's social charting features may find this limiting.

MetaTrader 5 and MT4. Both platforms provide chart analysis tools, strategy testing (backtesting your trading ideas against historical data), automated trading, and full Expert Advisor (EA) support. EAs are algorithmic scripts that execute trades based on pre-programmed rules.

MT5 offers additional timeframes, a built-in economic calendar, and a deeper order book compared to MT4, which remains popular for its simplicity and extensive third-party EA ecosystem.

Order behaviour when offline. Trailing stops cease functioning when you go offline or log out of MT5, whereas all other order types persist on the server and reappear when you reconnect. This is standard MT5 behaviour, but it catches out traders who assume trailing stops are server-side.

FXTM App. The proprietary mobile application includes a Trading Hub with live pricing, interactive charts, and technical indicators. It also integrates customer support via live chat, Telegram, WhatsApp, and WeChat.

For desktop charting depth and EA automation, MT5 remains the more capable tool, while the FXTM App provides convenient on-the-go order management.

Level 05 / 09▸ Instruments

Tradable Instruments

FXTM offers more than 1,000 tradable instruments across multiple asset classes. The precise composition varies by jurisdiction, so verify instrument availability under your specific regulatory entity before opening an account.

Instrument categories include Forex, Metals, Commodity CFDs, Index CFDs, Futures CFDs, Crypto CFDs, Crosses CFDs, Stocks, and ETFs. The inclusion of ETFs may differ by entity; confirm availability with FXTM support if ETFs are a priority.

For demo accounts, FXTM provides access to Forex, Metals, Indices, Commodities, and Cryptocurrencies. Stock CFDs are not available on the demo in any jurisdiction. If stock CFDs are a priority, you will need to fund a live account to access them.

Level 06 / 09▶ Accounts

Account Types

FXTM offers three main live account types: Advantage, Rewards, and Rewards Plus. Each targets a different trader profile. You can hold up to 10 trading accounts under a single profile.

Additional account variants listed in the broker's system, including Advantage Premier, Micro, and Advantage Stocks, may be available in certain jurisdictions or platform configurations but are not prominently offered to GB-region clients.

Feature	Advantage	Rewards	Rewards Plus
Minimum deposit	$500	$200	$100
Spread model	Raw / tight spreads	Spreads from 0.9 pips (no commission)	Spreads from 1.5 pips (no commission)
Commission	$3.5 per lot ($7 round turn)	None	None
Max leverage	1:3000 (International)	1:5000 (International)	1:5000 (International)
Margin call / Stop-out	80% / 50%	Not separately specified	Not separately specified
Cashback (FXTM Rewards)	Standard	Double cashback	Triple cashback, plus full FXTM Rewards benefits

The Advantage account is FXTM's premium offering for GB, CY, and AE clients. It requires $500, delivers tighter raw spreads in exchange for a per-trade commission, and offers floating leverage (meaning your effective leverage adjusts based on position size and equity) with margin call at 80% and stop-out at 50%.

GB-based traders: important context. Because the FCA-linked entity (FXTM GLOBAL EXCHANGE) is not authorised or registered, GB residents who open an account will likely be onboarded under an offshore entity such as Exinity Limited (FSCA) or the Mauritius-registered entity. This means UK consumer protections, including FSCS compensation, FCA conduct rules, and ESMA leverage caps of 1:30 (EU) for major FX, do not apply.

The 1:3000 (International) and 1:5000 (International) leverage figures quoted above are offshore maximums and would not be available under a functioning FCA licence. GB traders should be aware they are trading without the regulatory safeguards they might expect from a UK-authorised broker.

The Rewards account suits traders who prefer an all-in spread with no separate commission, starting from 0.9 pips at a $200 entry point, with double cashback through the FXTM Rewards programme.

The Rewards Plus account lowers the barrier to $100, widens spreads to 1.5 pips, and compensates with triple cashback. Both Rewards accounts advertise leverage up to 1:5000 (International), though actual caps differ by jurisdiction.

Leverage of 1:5000 (International) is exceptionally high: it means a $100 deposit controls $500,000 in notional exposure. A 0.02% adverse move wipes out your entire balance. Newer traders should consider voluntarily capping their leverage well below the maximum.

Demo account: FXTM provides a free demo loaded with up to $20,000 in virtual funds under real-market conditions. The account remains open indefinitely provided you place at least one trade within the first 14 days; otherwise it is automatically closed. Stock CFDs are not available on the demo.

Level 07 / 09▸ Deposit

Deposits & Withdrawals

FXTM processes withdrawal requests within up to 24 business hours on the broker's side, though total time also depends on your chosen payment provider. Deposits classified as "instant" begin processing within seconds, though FXTM clarifies this does not guarantee instantaneous completion.

Your withdrawal method must match the method used for your initial deposit. A request will be rejected if the amount falls below the payment system's withdrawal fee or if you lack sufficient free margin. This matching requirement is standard across the industry and exists for anti-money-laundering compliance.

You may withdraw funds while holding open positions. The maximum withdrawable amount is capped at your free margin, calculated as equity minus used margin. FXTM warns that withdrawing aggressively while positions remain open can trigger a Margin Call or Stop Out.

Specific details on accepted payment methods, minimum deposit thresholds, supported account currencies, and granular fee schedules were not fully available in the sources reviewed. The broker references cryptocurrency as a funding option, and bank transfer, card payments, and e-wallets are commonly offered in various regions, but availability varies by jurisdiction and entity.

GB-based traders should consult FXTM's funding page directly to confirm which methods are accepted under their specific entity before committing funds.

Level 08 / 09▶ Education

Research & Education

FXTM provides daily market analysis from experienced analysts, covering economic events, market news, and potential price movements. The output is serviceable for keeping up with macro themes, though it reads as overview-level rather than deep institutional-grade research.

Traders looking for actionable trade setups with defined entries and exits may find the analysis more descriptive than prescriptive.

On education, FXTM offers free courses, webinars, guides, and video content for beginners and advanced traders. This programme earned a Best Educational Program award at the 2022 World Financial Awards. The FXTM app supplements learning with interactive charts and technical indicators.

Standalone trading signals and a dedicated economic calendar are not prominently documented on the broker's website. If you rely on broker-provided signal services or an integrated calendar tool for timing entries around high-impact data releases, you may need to source those from third-party providers.

Level 09 / 09★ Support

Customer Support

FXTM's customer service agents reply within 24 hours after Contact Us form submission. The broker offers live chat, phone, and email support, and maintains a presence on messaging platforms including Telegram, WhatsApp, and WeChat.

FXTM operates across multiple regions and historically provides multilingual assistance, though specific language availability may vary by entity.

If your issue remains unresolved after engaging FXTM's internal support, escalate through the relevant regulatory body overseeing your account's jurisdiction. For FSCA-regulated accounts, that means the FSCA's complaints process; for CMA Kenya, the CMA's own dispute resolution channel.

Given the volume of withdrawal complaints visible on Trustpilot, knowing your escalation path before you need it is prudent.

▸ Our Verdict

Our Verdict on FXTM

FXTM (ForexTime) earns a trust score of 88/100 (Grade A), reflecting confirmed regulatory standing in select jurisdictions but notable verification gaps. Exinity Limited holds a verified FSCA licence (FSP 50320) in South Africa, and Exinity Capital East Africa Limited is confirmed under the CMA of Kenya (licence no. 135).

The other side of the ledger is harder to overlook. The FSC Mauritius licence (C113012295) could not be located on the register. The UAE CMA licence (no. 20200000270) was similarly absent.

FXTM GLOBAL EXCHANGE appeared on the FCA register as not authorised or registered. These discrepancies do not necessarily indicate wrongdoing, but traders outside the FSCA and CMA Kenya jurisdictions should exercise heightened caution.

On trading costs, the Advantage account's raw spreads from 0.0 pips with $3.5 per lot commission ($7 round turn) represent a competitive structure for active forex traders. The commission-free Rewards and Rewards Plus accounts cater to traders preferring simpler all-in pricing.

A notable transparency shortfall is that typical spread figures for major pairs remain undisclosed, making meaningful cost comparison with competitors harder than it should be.

Best for: Traders based in South Africa or Kenya who want locally verified regulatory oversight, competitive raw-spread pricing on the Advantage account, and swap-free options tied to a tiered rewards programme.

Skip if: You require a broker regulated by a top-tier authority such as the FCA or ASIC, or you are uncomfortable with the multiple register verification gaps identified across the Mauritius, UAE, and UK entities.

Breakdown

Trust8.8
Fees8.0
Platforms6.0
Research6.0
Education8.0
Support8.0
Mobile6.0
Instruments10.0

Not the right fit? See other brokers we recommend

Reviewed by

Steffen Droell· Engine Forex Founder & Chief Editor· 15+ yrs experience

Steffen Droll is the chief editor of Engine Forex. He set the scoring methodology every broker on the site is measured against, and he signs off on each review before it publishes, including checking every licence number against the regulator's own public register.

Published Aug 19, 2026

Frequently Asked Questions

FXTM operates through multiple entities, but only two regulatory licences could be independently confirmed on public registers. Exinity Limited holds FSCA (FSP 50320) as a Licensed Over the Counter Derivative Provider in South Africa, and Exinity Capital East Africa Limited holds CMA Kenya licence no. 135 as a Non-Dealing Online Foreign Exchange Broker. The broker also claims an FSC Mauritius Investment Dealer License (no. C113012295) and a UAE Capital Market Authority Category 5 licence (no. 20200000270), but searches of both registers returned no matching entries. An FCA-registered entity named "FXTM GLOBAL EXCHANGE" was found as not authorised or registered. Exinity UK Limited could not be verified on any known public register.

FXTM provides three main live account tiers. The Advantage account requires a $500 minimum deposit, delivers spreads from 0.0 pips, and charges $3.5 per lot ($7 round turn). The Rewards account has a $200 minimum, spreads from 0.9 pips, no commission, leverage up to 1:5000 (International), and double cashback. The Rewards Plus account requires $100, spreads from 1.5 pips, no commission, leverage up to 1:5000 (International), and triple cashback with full FXTM Rewards benefits. You may hold up to 10 trading accounts under a single profile.

The highest advertised leverage is 1:5000 (International), associated with the Rewards and Rewards Plus accounts. The Advantage account offers 1:3000 (International) for clients registered under the GB, CY, or AE jurisdictions. Actual leverage caps vary by jurisdiction, instrument, and account equity, so confirm the applicable limit during account setup.

FXTM offers a free demo loaded with up to $20,000 in virtual funds under real-market conditions. The demo remains open indefinitely provided you place at least one trade within the first 14 days; otherwise it is automatically closed. Stock CFDs are not available on the demo, so if equity CFDs are your focus, you will need a funded live account.

FXTM states it does not charge fees on deposits or withdrawals in most cases, though the broker reserves the right to charge banking fees or up to 3% of the withdrawal amount after no trading activity. Your payment provider may also apply its own charges. Your withdrawal method must match the method used for your initial deposit, and the minimum withdrawal amount must exceed the payment system's fee. Withdrawal requests are processed within up to 24 business hours by the broker.

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