Is FXTM a reliable broker? What is the minimum deposit for FXTM? Account types, spreads, minimum deposit, licenses... What is cent account and its advantages in FXTM?
8.7/10 (Expert Score)
Product is rated as #3 in category Forex Brokers

A global broker with a name that has shines in the market for years with awards from almost every continent each year. With traders from all over the world and regulation by the best in the financial regulation market.

Through this FXTM review, we’re going to uncover all the details within the broker house’s folds and make sure you’re taking the right decision when choosing to trade with this broker.

ForexTime or FXTM started operating in 2011 with a long-term vision of how they wanna take their name ahead in the world. And so, it has been continually recognized by many of the industry’s most influential award bodies. This is a testament to our commitment to providing exceptional customer service, competitive trading conditions, and -above all an outstanding trading experience.

The broker is proud to be one of the best in providing the ultimate educational materials to their new and existing brokers who need more information about forex, trading, or any topic related to the financial market. Serving clients from over 150 countries and supporting 18 languages, FXTM is making sure to cover all needs of clients in every way possible.

 FXTM spreads are quite tight (EUR/USD from 0.1), the trading platform is one of the best in the market which is the MT4, there are no hidden commissions when trading with ForexTime as they are keen on maintaining a great customer experience.

8.7Expert Score

I reviewed FXTM based on the following criteria.

  • Strong regulations (FCA, CYSEC)
  • Account type variety
  • Negative Balance Protection
  • Low max order size of 30 standard lots per trade

Is FXTM legit? Which licenses do they have and which regulations are they subject to? Are fxtm minimum deposits and spreads are low enough? What about leverages? Is it possible to open a demo account?

Is customer support competent? I’m sure that you will get all these answers now, Do not open an account at FXTM before you read this FXTM broker review article!

The company also sponsors Lewis Pugh. As a Brand Ambassador, he supports blue economy. Since he is the first one who swam 530km along the English Channel, a positive effect on brand is inevitable.

ftxm and alpari owner andrey dashin

The official website of FXTM serves 17 different languages and has approximately 1 million visitors per month.

The company has offices in Cyprus, Kuwait, Nigeria and United Kingdom. I investigated how they grew up quickly.

FXTM’s owner Andrey Dashin. He also owns the Alpari forex broker. Therefore, the experience gained thanks to Alpari became important. He wants to serve with a variety of innovative account types that will cover many clients and seems to be successful so far.

The fast execution of orders and the multilingual account managers have made it a blast to trade with FXTM along with a certain knowledge that funds are safe and secure due to the broker’s holding of multiple Licenses and regulations.

📃 Country of regulationCyprus (and license from South Africa), UK, Mauritius
💰 Trading fees classAverage
💰 Minimum deposit$3
💰 Withdrawal fee amount$50
🎮 Demo accountYes
🕖 Time to open an account1 day
💳 Deposit with bank cardAvailable
💸 Depositing with electronic walletAvailable
🛍️ Products offeredStock, Forex, CFD, Crypto


Regulations and Investor Protection

Forextime UK Limited is authorized and regulated by the FCA to provide regulated products and services, licence number 777911.

In addition, FXTM is regulated n cyprus too by the the Cyprus Securities and Exchange Commission which is known as CySEC, with license number 185/12.

The Financial Sector Conduct Authority (FSCA) of South Africa has also granted the broker their trusted license with No. 46614.

That’s a total of 3 world known regulatory jurisdictions that ensure the safety to trade with the broker as well as the clients funds being integrated from the operational funds of the broker itself. and so not only it is trusted to invest with FXTM , but its also provided segregated funds protection.

Furthermore, both FCA and CYSEC provide additional guarantees for clients funds. All brokers regulated by CYSEC are also members of Investor Compensation Fund in Cyprus.

FCA regulated brokers are under the Financial Services Compensation Scheme, FSCS, guarantee and provide compensation that can reach up to GBP50,000.

To summarize, we see that FXTM has very strong regulations. In addition, investors are protected by compensation funds.

Spreads and Account Types

FXTM Account Types and Spreads

FXTM offers 3 fxtm account types with varieties to match all different styles of trades with different trading strategies and levels of expertise in trading.

With the option to open a demo account, there is also the chance t try any of the account types offered at FXTM as a swap-free account.

The Maximum leverage requirement within FXTM for forex is 1:30. The leveraged trading in forex is considered a 2 edged weapon as in the time it might allow high gains and profit, but it also can allow for high losses. And so it’s always advised to be carful in dealing with high leveraged trades.

The 3 account types are as follows:

Micro Account

This is the account type with the least amount of fxtm minimum deposit rate which is only $50 as an initial payment upon opening the account. This rate is even lower than the average rate in the Forex market which reaches $100.

FXTM provides MT4 as the trading platform in this type of account with no commission added on trading transactions. Tight spreads are one of the main points FXTM makes sure to provide to its clients.

In the Micro account, you can trade forex and metals only in the same account on the same platform but not indices and commodities.

The option for a demo account and a swap-free account is available in the Micro account.

Advantage Account

With the advantage account, the fxtm minimum deposit amount is $500 where you can trade not only forex but also forex indices, metals, commodities, stock baskets, and indices. This is one of the most popular accounts offered by the broker where it has ultra-tight spreads of 0.0 pips.

You can choose between MT4 and MT5 as your trading platform on this account type as both are available to trade. There is a commission applied on this account that ranges from $0.4 to $2.

The option for a demo account and a swap-free account is possible with the Advantage account.

Advantage Plus Account

The last account type is the Advantage plus which its more targeted towards the more professional traders who’ve been in the market for quite some time considering its fxtm minimum deposit rate of $500.

The characteristics of this account might look a bit similar to those of the Advantage account however, in the Advantage plus account there is no commission added on trading transactions.

The option for a demo account and a swap-free account is also available in the Advantage Plus account to allow experts to try out new techniques of investments and test their knowledge if needed.


Trading Platforms

FXTM is offering 2 types of platforms which are the most famous in the forex and financial markets in addition to its app to facilitate the investment process to be one click away.

The main platform provided by FXTM is no other than the most world-renowned MT4 and MT5. In addition to other platforms, FXTM understands the importance of having flexibility in the platform used in trading. Since the investors would need to always stay in touch whether that’s from their phones or their PCs.

MetaTrader 4 is provided on PC windows, Mac, mobile android, or IOS, or tablets. MT4 was developed by MetaQuotes which provides access to a big range of markets and hundreds of financial instruments, that include foreign exchange, commodities, CFDs and indices.

Some of the characteristics of MT4 include:

  • Easy-to-read, interactive charts
  • Monitor and analyze the markets in real-time
  • Access to more than 30 technical indicators
  • Nine different timeframes to choose from

MT5 is an upgrade of MT4 with similar features but with a bit of a twist. MT5 isn’t offered on all account types. You can use MT5 in the Advantage and Advantage Plus accounts.

ForexTime App

With FXTM’s new forex trading app you can open and close positions in seconds, access live currency rates, manage your trading accounts, and stay one step ahead of the markets – anytime, anywhere.

With the ability to open, close, and modify your trading positions, you can also trade across multiple devices using the FXTM APP. Charting tools and indicators can be found with one click away on your phone where you can also track your positions whether they were opened or closed.

Customer Service

Customer Service

The broker is stating very clearly on their website their contact details along with the their headquarters which not only pushes confidence and reliability of the broker but also allows the traders to make sure that whenever they’d need help. They can get in touch right away.

It’s no wonder the broker has won multiple awards when it comes to their provision of customer service support like their award of the best global customer service provider in 2017 by world finance. Along with the Best trading experience in both 2020 and 2021 again by the same organization.

You can get in touch with multiple of way and with whichever department of the organization that you’d wish support with. The information to contact through emails or by live chat from different platforms are all available with FXTM.

Funding and Withdrawal Methods

FXTM offers different ways to deposit and withdraw your funds including credit and debit cards, e-Wallets, Bank Wire transfers.

FXTM doesn’t accept cash deposits.

The credit card methods offered are Visa, Mastercard, and Maestro cards. The e-wallet methods offered for deposits are Skrill and Neteller. While the bank wires supporting the broker are Barclays and Hellenic Banks.

There is no commission on any of the deposit methods offered. The processing time for each transaction doesn’t exceed 2 hours, except for the bank transfers where it takes from 3-5 business days as it depends on the banks and their internal processes and the agreements they have with each other, and that process has nothing to do with the broker.

As fast as it is to deposit in FXTM, it’s also quite ease to withdraw your funds and profits whenever you like. Withdrawal methods include credit card methods that contain Visa, Mastercard, and Maestro cards. While the e-wallet methods available for use are the same as the deposit methods which are Skrill and Neteller. The bank transfers that can be used in withdrawing are only allowed with GBP and EUR for currencies.

Commissions are applied for withdrawals with credit cards of $3 or its equivalent in EUR and GBP. And the amount so for the bank wire transfer commission is €10 or £5. There’s no commission for e-wallet methods of withdrawal. Most of the processing time for withdrawals happens on the same day.

Trading Instruments

Trading Instruments


Forex and Forex Indices are offered in FXTM where you can trade major, minor and exotic pairs within the same broker and the same platform. where you can buy and sell currency pairs with he lowest spreads as you can also trade and benifit of trading in forex and currency pairs like:

  • Massive market liquidity
  • The market is open 24/5
  • Low minimum deposits

You can trade with major pairs which includes US dollar as either base or counter currency. But, maybe you would be more interested in minor pairs which includes major currencies without US dollar.

For example: EUR/CHF or EUR/GBP. Also exotic currency pairs exist in FXTM. It means one side of the currency belongs to an economy under development and the other side is a major currency. We can show USD/TRY as an exotic currency pairs.


You can trade oil and gas with FXTM. Where the markets are flexible for investors to expand their accounts and their trading styles. The available commodities are:

  • UK Brent oil
  • US crude oil
  • US natural gas

Where you can benefit from the fluctuation of demands, supply, and prices. Let’s also not forget the low margin requirements that are present in that market and easy access to that market to the commodities markets in general through the best trading platform which is MT4.

Indices CFDs

Index exist to show statistical measure of change in a securities market. At FXTM you can trade with wide range of indices.

GDAX or DAX30 is one of them. It’s the stock exchange index of Germany and also very useful to predict general situation of European markets. Other indices that the broker enables to trades are AUS200 which is Australian 200 biggest companies.

Also you can trade in

  • AUS200 (Australia 200)
  • ND100m (US Tech 100 – Mini)
  • UK100 (UK100)
  • SP500m (US SPX 500 – Mini)

Spot Metals

Trading gold and silver has high popularity among traders seeking diversity in their trading instruments. Some investors even only seek details about trading gold and precious metals as they have higher value with a profitable flowing market.

Metals are considered popular assets during times of volatility, and since trading assets are considered a great factor in the investment process, most traders consider metals CFDs trading as potential safe havens.

These assets are typically seen as a hedge against inflation, meaning that regardless of the current state of the financial market, the opportunities to trade metals are potentially plentiful.

Stock CFDs

You can trade stock CFDs on the Advantage MT5 account where spreads goes down to 0.1, and there’s a fixed commission of $4 per lot where this is considered as one of the best rates in the business.

One of the main benefits of CFD trading is that you’re trading on the expectation of a price movement, so you don’t have to actually buy the underlying asset. Because you can take a short position ,which mean that you would predict the prices to get lower, as well as a long one, where you predict the prices to go higher. You will be able to make profit in both cases of the rise and fall of the share price.

Stock CFD trading is available on Advantage, and the Advantage Plus account.


Education and Learning Materials

FXTM is one of the best in the market when it comes to providing educational and learning materials to its current and new traders. From e-books to educational videos, the broker is making sure to cover all the needs of its clients in all formats.

E-books and forex trading seminars, forex trading webinars, and Forex Glossary are provided with detailed explanations of all you need to know in order to embark on your forex adventure. A beginner’s guide to forex trading is covering all you need to know and more if you’re still a newbie in the market. The forex trading strategies section is also available for expert traders who’d like to improve and enhance or even change their trading strategy.

The CFD trading section explains what kind of CFDs you can trade and the purpose and benefits of trading CFDs in forex. Where you’d be given all the needed information to decide for yourself which is the better CFD trading instrument suitable for you and your trading style.

Educational videos and educational articles also present to answer any question you might have about trading, forex, or even how to practice discipline in trading.



It’s a fact that in this FXTM broker review it’s proven that FXTM is one of the best in the market when it comes to trading, reliability, and variability provided to its clients. Whether its the account types, trading instruments, or even the great licenses the broker possess to prove its high place in the market.

3 different account types with tight spreads to ensure a profitable trading transaction. 3 different regulations from very reputable organizations and providing the world’s best and most favorable trading platforms, MT4, where you can trade everything you want on the same platform.

Great educational materials the cover all you need to know from A to Z about forex and CFDs and trading along with a satisfactory client support to provide you with the best customer experience.

In this ForexTime review, we have seen that the broker has won many awards over the years including best trading experience and best online trading platform in Nigeria and these in 2021 alone. FXTM has many awards up in its sleeves over the years almost from all over the world.

FXTM has over 4 million clients from over 150 countries around the world. great investment facilities and brilliant support to their clients both the beginners and the experts. The deposit and withdrawal transaction with ForexTime is as easy and smooth as ever, and both procedures don’t exceed 24 hours to complete which is the maximum time frame possible.

In this FXTM reviews its clear now that trading with FXTM is as safe and secure as possible.

If you have further questions or you’d like to share your experiences with me please do it in the comments and I’ll make sure to get back to you as soon as possible.

Valentin Cote

Valentin Cote

I am Valentin Cote, the author and owner of this personal blog. I compare and review forex brokers in my website. I am in the trading industry since 2009 and still learning. I also write useful articles for newbies about forex and investment. I love playing online games and Forex :)

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  1. whats the minimum amount I need to invest

  2. hello

  3. I joined this broker for 8 months. I satisfied their trading service because they given me very good service. I decided to trade long time here. Their Withdrawal process is super fast. I had Never encounter any problem on withdrawal especially.

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Who Am I?

Hello to everyone. Forexbrokerslab is my personal blog where I compare reliable forex brokers. I’ve been in forex trading since 2009 and I’m still learning. I have traded with the most popular forex brokers, including the most unknown ones in any regulation and many different account types. So I think I have enough knowledge to compare brokers. You can learn about forex brokers by reviewing my blog.


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