Is FXTM Nigeria Scam or Legit Brokerage Firm? Let’s Find out Together

FXTM was launched in 2011 as a part of the FXTM brand, which includes ForexTime Ltd, Exinity UK Limited, and Exinity Limited. The Forex broker is regulated in various jurisdictions providing its customers with access to the Forex market. Apart from currency pairs, you will find their many CFDs (contracts for difference) for various assets, including metals, indices, commodities, stocks, etc.

Does FXTM Work Legally？

The brand has several licenses, allowing it to accept traders from Europe Africa, and other regions. For instance, ForexTime owns an FSCA license (South Africa) giving it permission to work with African traders. As for Nigeria, there is no strict legislation in this country, meaning local traders can start with any company with no restrictions.

Apart from the African license, the FXTM brand is regulated in the United Kingdom (FCA). European Union (CySEC), etc. Having a license is important for a broker to operate in a particular country or region. For traders, cooperation with licensed brokers is the guarantee that they will not be deceived by the company.

FXTM Main Features

If you are still wondering whether FXTM Nigeria scam broker or not, you can learn more about the features of the brokerage firms that all its clients can enjoy. Apart from top-notch trading platforms and low entrance amount (you can place your first orders having as low as $10 on your trading account balance), there are plenty of other useful and comfortable features that you can benefit from.

Beginner traders are offered detailed education programs to jump-start their Forex trading careers. If you are new to financial markets, you can read themed articles and watch videos about how to analyze the market or manage your balance properly.

The team of FXTM experts will provide you with market guidance, which includes various types of market reviews and the key events that can influence price fluctuations. For those who still hesitate on placing their first orders, FXTM offers a specialized investment platform with various strategies, provided by financial market experts.

FXTM offers transparent commission policies, allowing traders to use various strategies without having heavy losses on fees. Whatever type of trader you are, you will find great opportunities with FXTMs minor spreads and commission-free offers. Last but not least, FXTM provides customers with responsive support, meaning you will receive detailed answers to all your questions throughout the week (except the weekend).

FXTMs reputation

The brokerage firm has a reputation as a reliable company as most traders reviews are positive or neutral. According to some testimonials, ForexTime does its job well, providing its clients with all the necessary tools and acting as a trustworthy company when it comes to money withdrawals. All the above mentioned put together confirms that you can trust the company.