FXTM offers a comprehensive range of educational resources for traders of all levels. Moreover, their educational materials cover a wide range of topics, such as forex basics to advanced trading strategies. In addition, these resources are available in various formats, including video tutorials, webinars, and ebooks. However, some users have reported that the quality of the educational content can vary, with some materials being more in-depth and informative than others.
Additionally, while FXTM offers a variety of educational tools, some traders may find that they need to supplement their learning with additional resources from other sources.
| Founded | 2011 |
| Registered Country | United Kingdom |
| Regulation | FCA, FSC (Offshore) |
| Trading Instruments | Forex, metals, commodities, stocks, indices, cryptocurrencies, and CFDs |
| Demo Account | ✅ |
| Account Type | Advantage, Advantage Plus, Advantage Stocks |
| Min Deposit | $/€/£/₦200 |
| Leverage | Up to 1:3000 |
| Spread | Close to zero on major FX pairs |
| Trading Platform | MT4, MT5, mobile trading |
| Payment Method | Credit/debit cards, e-wallets, bank wire transfers and local payment solutions |
| Deposit Fee | /£/$3 or ₦ 2,500 fee for any deposit under €/£/$30 or ₦25,000 |
| Customer Support | 24/5 live chat, contact form
Tel: +44 20 3734 1025 |
| Regional Restrictions | The USA, Mauritius, Japan, Canada, Haiti, Iran, Suriname, the Democratic People’s Republic of Korea, Puerto Rico, the Occupied Area of Cyprus, Quebec, Iraq, Syria, Cuba, Belarus, Myanmar, Russia and India |
Is FXTM Legit?
FXTM operates under a strong regulatory frame, and it has several entities that are regulated in different jurisdictions:
Market Instruments
FXTM offers over varioustradable instruments, covering forex, metals, commodities, stocks, indices, cryptocurrencies, and CFDs. However, this broker does not currently support trading on futures, options, and ETFs.
| Tradable Assets | Supported |
| Forex | ✔ |
| Stocks | ✔ |
| Indices | ✔ |
| Precious Metals | ✔ |
| Commodities | ✔ |
| Cryptocurrencies | ✔ |
| CFDs | ✔ |
| Futures | ✔ |
| Options | ✔ |
| ETFs | ✔ |
Demo Account
FXTM offers demo accounts for all its account types. These demo accounts allow traders to test their trading strategies in a risk-free environment using virtual funds. Demo accounts are also useful for new traders who want to learn how to trade before committing real money to live trading.
Leverage
FXTM offers leverage of up to 1:3000. It’s recommended to use leverage wisely and only trade with funds you can afford to lose.
Spread and Commission
For the Advantage account, the spreads start from 0.0 pips, and $3.5 per lot traded on FX is charged. For the Advantage Plus account, the spreads start from 1.5 pips, but no commission. For the Advantage Stocks account, the spreads start from 6 cents, but no commission.
The spreads offered by FXTM are typically lower than those offered by many other brokers in the industry, particularly on the Advantage account. The Advantage Plus account, however, has slightly higher spreads, which is to be expected due to no commissions.
| Account Type | Spread | Commission |
| Advantage | From 0.0 pips | $3.5 per lot traded on FX |
| Advantage Plus | From 1.5 pips | ❌ |
| Advantage Stocks | From 6 cents | ❌ |
Trading Platform
FXTM offers three chocies of trading platforms, including the popular MetaTrader 4 and 5 platforms, as well as their proprietary mobile trading app.
Deposit and Withdrawal
FXTM offers a variety of deposit and withdrawal options for its clients. Traders can deposit funds into their trading account using Kenyan/local transfers (local Indian payment methods: UPI and Netbanking, local Nigerian instant bank transfers, equity bank transfer, Ghanaian local transfer, Africa local solutions, M-Pesa, FasaPay, TC Pay Wallet), credit cards (Visa, MasterCard, Maestro, Google Pay), e-wallets (GlobePay, Skrill PayRedeem, Perfect Money, Neteller), and bank wire transfer.
Conclusion
To sum up, FXTM is a well-regulated and respected forex broker with a wide range of market instruments, competitive trading conditions, and user-friendly trading platforms. FXTM’s customer support is also responsive and helpful, and their free educational resources are very useful for both novice and experienced traders.
