FXTM Review

2.324 • 157 REVIEWS
FXTM Exinity Limited
Updated: Feb 5, 2023
ForexTime.com

FXTM is a regulated by FCA (UK), CySEC, FSC, FSCA forex broker established in 2011. ForexTime is offering MT4, MT5, WebTrader and FXTM Trader mobile app.

Trading instruments include over 55 currency pairs, Bitcoin, Litecoin, Ethereum cryptocurrencies as well as Stock Indexes, Stocks, Gold, Silver, Oil and other commodities.

Scalping, News Spike Trading and Expert Advisors are supported. Investors may choose to follow successful traders through managed account services. Wide spectrum of trading education materials is provided.

Please read FXTM Reviews below and share live trading experiences with this broker.

Other websites of this company include FXTM.com, ForexTimeChina.com.cn.

Related sites include Exinity.com, Alpari.org.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 2000:1
Minimum to Open Live: $10
Established: 2011
Address: Exinity Limited, 5th Floor, 355 NEX Tower, Rue du Savoir, Cybercity, Ebene 72201, Ebene 72201, Mauritius
Contact: support@fxtm.com, +44 20 3734 1025
Regional offices:
Regulators: CySEC # 185/12, FSC Mauritius #C113012295, FSCA #FSP No.46614, FCA #777911 / 600475
Prohibited countries:
Trading platforms: MT4, MT5, WebTrader
Web Trading: ✅ Yes
Mobile Trading: ✅ Yes
ECN: ✅ Yes

Trading Instruments

Currencies: (55+)
Cryptocurrencies: (4) Bitcoin, Litecoin, Ethereum
CFD: (190+) Gold, Silver, Stocks, Stock Indexes, Oil, Other Commodities

Trading Conditions

EAs/Robots: ✅ Yes
News Trading: ✅ Yes
Scalping: ✅ Yes

Managed Accounts & Social Trading

MAM: ✅ Yes
Deposit Methods: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Alfa-Click, Bitcoin, CASHU, Dash, DixiPay, DusuPay, Ether/Ethereum, FasaPay, Globe Pay, Konnexone, Litecoin, Local Bank Transfers, Maestro, Neteller, Ngan Luong, PerfectMoney, Qiwi, Skrill, VLoad, Yandex Money
Withdrawal Methods: VISA, MasterCard, Bitcoin, Dash, DixiPay, DusuPay, Ether/Ethereum, FasaPay, Globe Pay, Konnexone, Litecoin, Local Bank Transfers, Maestro, Neteller, PerfectMoney, Qiwi, Skrill, UnionPay, VLoad, WebMoney, Yandex Money
2.324 • 157 REVIEWS

Traders Reviews

P
Nigeria, Nigeria,
Jan 5, 2023,
Registered user

Fxtm truly stands out

Service use: Live Length of use: over 1 Year
I have been using Fxtm of and on since 2016 . I have not had a single issue since then. In the past ,the withdrawal may not come that day but the next day and its included that the trading cabinet that local withdrawal is 24 hours,so that is not an issue ,,but now the withdrawal is instant!

Its truly an ECN broker. Many do complain often about the spread.
The secret is if you wish to target 50 pips,make it 40 pips, so the spread issue is dealt with that way! And yes ECN brokers do take commission cos they are giving you a direct access to world markets. I will rather have a good broker that I know how to handle their spread issue and commission than work with a fraudulent broker.
So yes , Fxtm is one of the best. I also have other brokers I work with, but Fxtm is more reliable. I trust Fxtm. They are among the top 5 for me.
P
Reply by ForexTime (FXTM) submitted Jan 11, 2023:
Hello Piusmakor21. Thank you so much for your wonderful and honest review! We're thrilled to know that you're enjoying your trading experience with FXTM. One of our top priorities is to constantly improve our services so our clients have a comfortable and hassle-free experience with us. Feedback like yours really goes a long way to motivate us and we thank you. If you have any specific issues or need any assistance at all, we're here for you. Once again, thank you.
O
Homs, Syrian Arab Republic,
Oct 21, 2022,
Registered user

Service use: Live Length of use: 3-6 Months
My experience was excellent. Withdrawals and deposits are done in less than a minute
Excellent customer service, quick response
The ECN account is excellent and the spread is almost negligible
Simple, easy to use, uncomplicated website
I had a good experience with it and I expect that I will continue with this forever, especially the feature of copying deals is one of the most beautiful features
O
Reply by ForexTime (FXTM) submitted Nov 9, 2022:
Hello Osamabic. Thank you for your wonderful comments and it's great to hear that you are enjoying your trading experience with FXTM. We always do our best to provide new features to enhance your trading experience with us. If you have any suggestions or feedback to improve, we're ready to hear you out. Please do reach out to us if you need any assistance in the near future.
C
Lagos, Nigeria,
Aug 26, 2022,
Registered user

Service use: Live Length of use: 0-3 Months
This people are gang of criminals. My only word for traders is: STAY AWAY!
This people are thieves and they're not hiding that fact. They manipulate your trades to make sure you lose, they charge you for any single day you did not trade, you can NEVER withdraw money from fxtm platform.
JUST STAY AWAY!!!
C
Reply by ForexTime (FXTM) submitted Aug 29, 2022:
Hello Changer. We are NOT THIEVES. Please do not spread false information by sharing incorrect facts:

1) We DO NOT manipulate or interfere with our client's trades,
2) We DO NOT charge a daily fee for no trading - we charge the 'Inactive Maintenance Fee' if "client does not have any trading activity on all Clients Trading Accounts for a period equal to 6 (Six) consecutive calendar months or more starting from last Clients trading activity, FXTM will charge the Client an amount of 5 EUR/USD/GBP or NGN equivalent per account depending on Clients Trading Account currency on a monthly basis,"
3) Our withdrawal system is working perfectly fine and on a daily basis, withdrawals are being processed and sent for our 4 million+ clients.

Your comment is totally unjustified and if you are facing a 'real' issue, please send an email to social@fxtm.com and include your FXTM ID so we can investigate your case and provide a public response right here. We are awaiting your email.
G
Gabriel Okeke
Alaba international market lagos, Nigeria,
Jan 31, 2022,
Guest

Ok

Service use: Live Length of use: 0-3 Months
I don't know why there is so many bad comment about FXTM,to my own experience,FXTM is a good broker.I did not read any review about FXTM in forexpeace army before I opened a live account with them,but I read the negative reviews about FXTM,I was so afraid.So I decided to trial them and make a withdrawal on the 28th of January 2022 to see if they will process my withdrawal,the told me that my account must be fully verified,Which i did,they also told me that I should bring my bank statement,it should contain my name and account number to see if am the real owner of the money that I want to withdraw,which I also did.Today 31th of January,I received alert from GTB that FXTM has sent me my money.
Please and please,since I've been trading with FXTM,they have never intervered with my trade,the trade that I place,is what i see,their customer care service is excellent,there server excellent.Just follow there instructions and don't do other wise,you will enjoy there services....pls don't listen to all the negative reviews you read about them,most of this people don't know what forex is all about,when the loose,the look for who to blame....No body paid me a dime to post this review,I live closer to Alaba international market ojo local government area of Lagos State.FXTM are good and reliable broker please feel free to do business with them...
G
Reply by ForexTime (FXTM) submitted Feb 3, 2022:
Hello! Thank you for your feedback. If you have any questions, please contact support. We will be happy to help.
R
Global, Nigeria,
Dec 16, 2021,
Registered user

Fraudulent closing of trade high above stoploss

Service use: Live Length of use: over 1 Year
Ive been with ForexTime for a long time, and all that time no progress. As a Nigerian i will advice all Nigerian never to use this broker as they will regret it and loose all their money. They close your trades high above your stop loss mark and then offer stupid excuses when you complain. Their spread is never reliable as they can use it against you when you least expect it. No matter how hard you complain and contact them you will never get any justice. STAY AWAY FROM THEM. IF you are in profit take it and run. only pain and regret will accompany you when you use this broker. I even had to write Cyprus securities and exchange commission to complain about their unethical practices. Waiting to see how this will end as i will have all my trades ever done on thier platform investiagted
R
Reply by ForexTime (FXTM) submitted Dec 17, 2021:
Hello! Our Company has been providing our services for over 10 years. During this period, we have earned a reputation of a trustworthy and honest broker. Our main goal is to provide the best services in the Forex industry. Our employees are highly qualified. We’re truly sorry that you have encountered this situation. Please send us an email to social@fxtm.com. In the email specify your trading account and position numbers. We will run a detailed check and we are ready to provide a public answer. The situation that you described is completely excluded. This practice is contrary to both the norms and corporate ethics of our Company. We have never intervened or interfered with Clients' trading. Please be informed that spread offered on our accounts is floating and depends on the trading account type, as well as on the market conditions. Prices of different instruments are quoted from various liquidity providers. Different brokers will have different trading conditions and competitiveness. FXTM quotes price directly from liquidity providers with the most competitive prices, hence it is floating spread. On our Advantage and Advantage Plus accounts, orders are executed at the current market quotes, each separately taken position is automatically brought to the external market. There can be no conflict of interest between the Company and the Client since the Client's financial result does not in any way affect the Company's profit.

S
nigeria, Nigeria,
Nov 10, 2021,
Registered user

Account Not funded and very slow response to request

Service use: Live Length of use: 0-3 Months
I just want to report this and for every one to see how prompt FXTM is as regards support.
I made a payment to fund my account Yesterday, 10/11/2021. Up till now, I haven't seen it reflect in my account.

Its shocking that no one has called, no mail has been sent up till now.

Guys shine your eyes before you trade with all these brokers
S
Reply by ForexTime (FXTM) submitted Nov 11, 2021:
Hello! We would like to bring your attention to the fact that every deposit method has specific a specific period for processing. Please send your MyFXTM account number to social@fxtm.com. We will check this information and provide a prompt response.
G
Ondo, Nigeria,
Oct 10, 2021,
Registered user

Denying of my deposit have been resolved

Service use: Live Length of use: over 1 Year
The issue I brought here of my #45000 that I deposited have been credited to my trading account now thanks

Sep 30, 2021 - 1 Star I deposited to fxtm bank account and they denying me of my fund which I deposited to their gtbank account with amount of #45000 and the receipt of the deposit has been sent to them, and they refused to fund my trading account, please trader beware of this fxtm company, don't fall a victim.

Reply by ForexTime (FXTM) submitted Oct 1, 2021 Hello!We are kindly asking, please send your MyFXTM account number to our email address support@fxtm.com. We will check this information and promptly reply.

Review Moderation Team Note: This reviewer did provide an account number. While you are logged in as a company representative, you should be able to view it.
K
Bangalore, India,
Sep 2, 2021,
Registered user

Worst Services

Service use: Live Length of use: 0-3 Months
Fxtm is the worst of all the brokers I have come across. It's not even one month but a lot of false promises and issues.

1) I couldn't use the FxTm mobile app with a live account. Demo works fine, I don't know why? Contacted customer care chat 15 days ago. Instead of understanding what the problem is, they keep on saying: restart the phone, uninstall and reinstall the app, enter the login id and password correctly, send the screenshots. Seriously? Don't you know that without a correct id and password I can't even login to the app. Finally after 1 hour of chat and doing useless things, chat person said that they are contacting the relevant department (I don't know what that department is) and they will get back to me. But they never show up. So, I started a chat again after a couple of days.. you know what? Same thing... restart the phone, uninstall and reinstall the app... blablablaaa. Again the same answer, our relevant department will get back to you.

2) Finally I have written an email and the reply was again... we will get back to you. It's more than 15 days now.

3) They started charging me swap-free everyday for open positions. I didn't know my account was a swap-free. So, I logged in to the portal and tried to disable the option. It will say "Success", but still show that option in Green. I tried more than 100 times.

I again contacted customer care chat and informed about this. They started like this:- Go to you portal, select the account, click on the swap-free bla bla blaa. Seriously? I was saying that I have already tried that. And they asked me to send the screen shots, which is their template response. I sent and the same template reply again.. our relevant department will get back to you.

And they keep charging my account with some $10 everyday per lot, for their issues.

4) Again I have written an email.. stating the issue that I am unable to disable the swap-free option, I have also asked them the status on the issue with mobile app. Asked them for a refund of charged too that were applied because of this issue.

I was shocked to see the reply. They bluntly said that they don't refund and keep on charging even after I asked 100 times to disable the swap-free. Finally they said they have sent this to the 'relevant' department and they will disable the option. BUT still it is not disabled. And they will keep on charging the fee and I have to pay?????

In that reply, regarding the mobile app, their answer was: Please let us know what's the issue with mobile app???????? WOW! Again started from the beginning.

I am vexed seriously and I am going to close my account with FxTm after withdrawing everything left in the account. I thought of adding more funds if I am satisfied with the services. But now a big NO.

They are here to loot your accounts, that's all. I will go back to my old broker. They are far better!
K
Reply by ForexTime (FXTM) submitted Sep 3, 2021:
Hello KiranAG! We are so sorry that these complications occurred while working with our Company. We are kindly asking you to send us a message to social@fxtm.com. In the message, please specify your MyFXTM ID number. We will make a detailed check and provide you with a prompt response. Thank you in advance.
B
Kaduna, Nigeria,
Jun 24, 2021,
Registered user

Trade fraud, closing trade without reason

Service use: Live
First I place a buy trade order but they rather sold it. Secondly the four hour candle traded on did not appear or was not active on the chart. Thirdly there was manipulation on price, other brokers open with gap prior to news release yesterday but fxtm did not. Lastly fxtm stoped me out of trade without my concernt and with my active margin. Therefore I want them charge to return back my money soonest. I have proves both videos and photo images which are readily available for your further reference.
1 trader has found this review helpful
B
Reply by ForexTime (FXTM) submitted Jun 27, 2021:
Hello Baba Paul! We are sorry to hear your frustration. Please note that the Company does not interfere with Clients’ trading activity, nor does it manipulate the prices received from its Liquidity Provider. This goes against both regulation and our corporate ethics. We kindly ask you to send us the Trading account number and Order Number to tradeenquiry@fxtm.com. We'll look into your case and provide you with a detailed response in the shortest time possible. If anything is wrong we will look to compensate you for the losses.
M
Muscat, Oman,
May 26, 2021,
Registered user

deposit is easy .... but try to withdraw !!

Length of use: 0-3 Months
I open an account the deposit took almost 2 seconds using credit card

when I tried to withdraw
they asked me for
1- national ID card photos
2- credit cart photos
3- bill or tax photos

which takes time to be processed

and time to be verified

and time to be accepted

and time to be refund


until now i could not withdraw !! 400$ in their website and they take charges for each day if I am not trading
1 trader has found this review helpful
M
Reply by ForexTime (FXTM) submitted May 27, 2021:
Hello Mohammed Al Zarii! Please be informed that in order to withdraw your funds, your account needs to be totally verified. This procedure is needed to verify that you, our Client are the one who is withdrawing the funds, not a third party. Please be informed that to fully verify your MyFXTM account, all Clients are asked to provide us with 2 documents: 1) an identity document (ID slip, passport, driving license); and 2) a proof of residence document showing your current residential address. In order to process your withdrawal, FXTM requires a color copy of both the front and back side of your card. For security purposes we recommend that you cover all digits except the last 4 on the front side of the card, also cover the last 3 digits on the back side of your card (we do not require the CVV code). All of these requirements are stated on our website. If you have any further queries, please contact our Customer support team via Live chat. Our team will be happy to answer any questions you might have!
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Frequently Asked Questions

Is ForexTime a good broker?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if XXX is a good broker. https://www.forexpeacearmy.com/forex-reviews/9209/forextime-forex-brokers

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent ForexTime community discussions: https://www.forexpeacearmy.com/community/tags/forextime/

What is the minimum deposit for FXTM?

The minimum deposit for FXTM is variable depending on the type of the account.
  • Standard Account: minimum deposit is $100
  • Cent Account: minimum deposit is $10
  • Shares Account: minimum deposit is $100
  • ECN Account: minimum deposit is $500
  • ECN Zero Account: minimum deposit is $200
  • FXTM Pro Account: minimum deposit is $25,000

Is FXTM a legit company?

FXTM is a brand name of ForexTime Group. ForexTime Group is authorized and regulated in various jurisdictions.

ForexTime Limited (EU):

  • is regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12,
  • is licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614.

ForexTime UK Limited:

  • is authorised and regulated by the Financial Conduct Authority of UK with license number 777911. 

Exinity Limited:

  • is regulated by the Financial Services Commission of the Republic of Mauritius with an Investment Dealer License bearing license number C113012295.

 

What is FXTM standard account?

FXTM standard account, the name self explains, offers traders the ability to trade standard lots. It boasts below features:
  • Trading Platforms: MT4 / MT5
  • Account Currency: USD / EUR / GBP / NGN
  • Leverage / Margin: Floating from 1:2000
  • Minimum deposit: $100
  • Commission: No 
  • Spread: From 1.3
  • Margin Call: 40%
  • Micro Lot (0.01): Yes
  • Mini Lot (0.1): Yes
  • Standard Lot (1): Yes
  • Minimum Volume in Lots per Trade: 0.01
  • Maximum Volume in Lots per Trade: 30
  • Maximum Number of Orders: 100
  • Maximum Number of Pending Orders: 100