FXTM group includes several related companies.
FXTM UK - located in the United Kindom, regulated by the Financial Conduct Authority (FCA).
FXTM CY - located in Cyprus, regulated by the Cyprus Securities and Exchange Commission (CySEC).
FXTM MU - located in Mauritius, regulated by the Financial Services Commission (FSC).
FXTM is also licensed in South Africa by the Financial Sector Conduct Authority (FSCA) there.
Be aware, UK and CY companies have some trading restrictions because of the European Securities and Markets Authority (ESMA) influence.
FXTM group accepts clients from all over the world, excluding USA, Mauritius, Japan, Canada, Haiti, Suriname, North Korea, Puerto Rico, Occupied Area of Cyprus.
Forex broker offers the following underlying assets for trading.*
|55+ Currency Pairs||Based on major and minor world currencies.|
|4 Crypto Pairs||Based on Bitcoin, Ethereum, Litecoin, Ripple.|
|11 Indice CFDs||Based on baskets of different blue-chip stocks.|
|5 Metal Spot CFDs||Based on Gold and Silver.|
|3 Energy Spot CFDs||Based on Crude Oil (WTI, Brent) and Natural Gas.|
|150+ Stock CFDs||Based on shares of US companies.|
*Instruments are offered based on the trader's country of residence.
FXTM is a global online broker originally launched in 2011 as part of an effort to provide superior trading conditions and better education to the retail trading community. The broker today has a local presence in many parts of the world, with a focus on European and African cities. Over the years, FXTM has established a strong presence in Nigeria in particular, with in-person trading courses and workshops offered to the general public out of its offices in the cities of Lagos and Abuja (update: unfortunately, the Abuja office is now closed).
In terms of regulations and the trading conditions that are available to traders around the world, there are three web portals potential customers should be aware of:
– Forextime.com/eu, EU-regulated entity registered in Cyprus and licensed in the UK and South Africa
– Forextime.com/uk, entity regulated by the UK’s Financial Conduct Authority
– Forextime.com, global entity regulated in the offshore jurisdiction of Mauritius
Among these, the Mauritius-regulated entity offers the most favorable trading conditions, with fewer restrictions on things like leverage. However, traders who are deemed EU clients will still be subject to the 1:30 leverage limit that applies in the EU.
FXTM has a large selection of trading instruments available to choose from, with a special focus on CFDs based on both large and small cap US companies. In addition comes more than 50 of the most popular forex pairs, the popular cryptocurrencies Bitcoin, Ethereum, Litecoin, and Ripple, as well as commodities and stock indices.
In terms of trading platforms, FXTM offers only the MetaTrader 4 (MT4) or the newer MetaTrader 5 (MT5) for its customers. Both of these platforms are available in web, desktop (Mac & Windows), and mobile versions.
FXTM offers two categories of trading accounts: Standard and ECN. Both of these are divided into three different account types so traders can find the most suitable option for their own individual needs. All Standard Accounts offer commission-free trading with somewhat wider spreads, while the ECN Accounts mostly offer commission-based trading with tight spreads for traders who trade with bigger size.
– Standard Account, with spreads starting from 1.3 pips and a min. deposit of 100 EUR/USD/GBP
– Cent Account, for small traders with a min. deposit of 10 EUR/USD/GBP
– Shares Account, for traders mainly looking to trade share CFDs
– ECN Account, with $2 commission per lot and 500 EUR/USD/GBP min. deposit
– ECN Zero Account, commission-free ECN account with spreads from 1.5 pips
– FXTM Pro Account, with ultra-tight spreads from 0 pips and min. deposit of 25,000 EUR/USD/GBP
Once a trading account has been set up, new customers can make a deposit with either international bank transfer, credit or debit cards, cryptocurrencies Bitcoin, Litecoin, Ethereum and Dash, or through a range of online e-wallet services like Skrill and Neteller. In addition, the broker also accepts a large number of local bank transfer options in a variety of Asian and African countries, all of which are accepted free of charge in the local currency.
Customer service is provided locally for residents of China, India, Indonesia, Malaysia, Nigeria, South Korea, and Thailand through email and phone. International traders can also request a call-back from the broker regardless of the country they are based in, or reach out to customer support directly via the popular messaging apps WhatsApp, Viber, Telegram, or Messenger.