Score

6.52 /10
Average

FXTM

United Kingdom

10-15 years

Regulated in United Kingdom

Straight Through Processing (STP)

MT4 Full License

Global Business

Suspicious Overrun

High potential risk

Offshore Regulated

AAA
A

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Comparison

Quantity 28

Exposure

Open Account
Website

Score

Regulatory Index6.98

Business Index7.22

Risk Management Index0.00

Software Index8.66

License Index7.10

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

VPS Special
*Only support this broker's real account

Dual-core processor

100%

2GRam

100%

60GHarddisk

50%

Open for free

Regulatory disclosure

Danger

ID BAPPEBTI
2022-02-02
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Danger

MY SCM
2021-01-01

Broker Information

More

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WikiFX Risk Alerts 3
Previous Detection : 2025-06-02
  • The number of the complaints received by WikiFX have reached 26 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • This broker exceeds the business scope regulated by South Africa FSCA(license number: 50320)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!

WikiFX Verification

FXTM · Benchmark
Average transaction speed(ms)
382.3 Good
The highest transaction speed(ms)
8 Perfect
The highest speed of opening positions(ms)
8 Perfect
The highest speed of closing position(ms)
17 Perfect
The lowest speed of opening positions(ms)
1946
The lowest speed of closing position(ms)
1951
Ranking: 2 / 128
Test user 5,494
Transactions 35,471
Ocuppied margin $24,795,743 USD
Data Source WikiFX Data provide
Updated: 2025-05-30 01:05:00
Pyramid scheme complaint
Expose
Unable to Withdraw

FXTM is a scam platform! No withdrawral for various reasons!

It has been impossible to withdraw funds since December, and the handling fees deducted when withdrawing funds will not be returned. The reasons used include incomplete information, wrong bank information, unaccounted handling fees, in short, various reasons for not withdrawing funds. To put it bluntly, I just want to keep delaying until all the idle and withdrawal fees are deducted! This is a scam platform! Don't be fooled!

2024-01-24 13:49
Scam

Unethical Practices and Legal Violations

ForexTime's blatant disregard for Indian legalities is appalling. Despite being deemed illegal in India, they persist in servicing Indian clients, jeopardizing their safety. I've lodged a complaint with the Ombudsman of Mauritius, urging swift action to suspend their FSC Mauritius license unless they cease Indian operations immediately. This unethical conduct must not go unnoticed; I urge everyone to think twice before engaging with Forextime. Is offering services in a banned country ethical or unethical? It's unequivocally unethical. Explicitly stating non-compliance with Indian laws on their reply to my email while profiting from Indian residents is audacious . Anyone can check the official website of the Reserve Bank of India to verify it's illegal status. My account closure is a result of my complaint against Forextime to the Financial Services Commission, Mauritius. They engage in illicit practices by accepting deposits through local Indian banks, a clear violation amounting to money laundering. Registering with them poses a significant risk, as they might shut down at any time, leading to the loss of your funds. It's highly requested to not sign up and fall for a dubious platform.

2024-01-06 10:30
Unable to Withdraw

Unable to withdraw and must pay 50% personal income tax

I was induced to deposit money step by step before. Now 75% of the account balance is my principal, but it said that I need to pay 50% of the account balance as personal income tax to resume the withdrawal business. I consulted professionals in Japan and told me such a requirement is unreasonable. I really have no money. I have borrowed 940,000 yen from a friend for the platform anniversary event and illegal payment. Now my friend has no money to lend me any more to pay taxes. I hope the platform can help me get an explanation.

2022-04-24 23:52
Others

15,000 USD was stolen from my account, please compensate me for the loss.

On the afternoon of March 5, 2023, I suddenly received 5 text message reminders that the withdrawal was successful. I thought it was a joke, so I went to the toilet with a smile. Thinking that something was wrong, I quickly logged in to the account. All the funds in the account were suddenly transferred to Fu. I opened my USD wallet and was withdrawing money like crazy. I quickly changed my password and I was still withdrawing money during the modification process. Since I didn’t leave the account manager’s phone number at that time, all the previous manual customer pages of FXTO turned into robots, turning me into a robot. I was so anxious that I could only send an email to the official to stop my withdrawal. My total account balance was about 53,000USD. 1,700USD was transferred out to 1,500 USD from the first account, and 46,000USD was transferred out from the second account, which was about 52,000USD. I held a position margin. It was not enough to close the position. I took 15,000USD from the virtual currency channel of the wallet, leaving more than 30,000 USD. The withdrawal was completed very quickly in more than ten minutes. My wallet address was bound and verified, but the 15,000USD withdrew did not arrive in my account. Wallet, I quickly took out the remaining amount through the bound bank card. Futuo is too unsafe. The platform even withdraws funds without personal verification and cannot guarantee the safety of funds. The final reply from customer service said that my email information was leaked to ensure that third parties cannot access my email. The key problem is that Futuo did not make any The verification code will not be sent to the email address, so what is the use of accessing my email address. This led to my debt crisis, with a total loss of over 20,000USD

2024-03-18 10:40
Others

Do not use FXTM, your money is at risk.

I often can't log into my account, it says the username or password is incorrect, but they are not. I even changed my password via SMS, but still couldn't log in. I added a manager from the official website on WeChat, we chatted briefly and then they stopped replying; further inquiries were also ignored. Previously, I had several accounts under this login, but when I tried to access them six months later, all accounts had disappeared even though the username and password were correct. Recently, I couldn't log in at all with these credentials. Accessing their official website is very unstable, sometimes I can't get through at all. Even if there is money in your account, you can't log in, you have no way to withdraw it.

2024-12-29 23:21
Scam

Induced deposits with anniversary activities, and then a series of problems followed

Picture[1] On April 9th, a friend told me that the business had an anniversary event and asked me to contact customer service to see if I had the right to participate, so I was confused and passively participated. Figure [2] On April 10th, the first application for withdrawal of funds failed. The customer service refused to withdraw funds on the grounds that the anniversary activities were not completed, and said that the activities that were not completed within the specified time would be handed over to the judicial department and reported for levy letter. Figure [3] On April 11th, I borrowed money from a friend. Due to the transfer limit, I made a deposit of 320,000 yen and completed 50% of the progress of the activity. Figure [4] The platform could not be accessed on April 12th and 13th, the official statement is system maintenance and upgrade; on April 14th, the deposit of 331,000 yen was completed to complete the anniversary event. Figure [5] On April 14th, the second withdrawal failed. The customer service asked me to pay 20% of the account balance as the violation fee on the grounds that my account maliciously attacked the platform system data and caused a high profit violation, otherwise the account will be frozen. On April 15th, deposit 342,500 yen as a deposit. Figure [6] On April 17th, the deposit arrived. Figure [7] From April 18th to 22nd, I contacted customer service about the withdrawal of funds, and I have been inquiring all the time, but there is no result; I later informed that the profit part needs to pay 50% of the account balance as personal income tax before the withdrawal can be resumed. business. Figure [8] On April 24th, the illegal payment was refunded to the account. Figure [9] On April 24, it was found that the account main body of the old version was inconsistent with the account main body of the new version. I asked customer service, the customer service explained it, and sent an email to Exness's official mailbox for verification, but no reply was received.

2022-04-24 23:33
    Sources
    FXTM · Company summary
    Quick FXTM Review Summary
    Founded2011
    Registered CountryUnited Kingdom
    RegulationFCA, FSC (Offshore)
    Trading InstrumentsForex, metals, commodities, stocks, indices, cryptocurrencies, and CFDs
    Demo Account
    Account TypeAdvantage, Advantage Plus, Advantage Stocks
    Min Deposit$/€/£/₦200
    LeverageUp to 1:3000
    SpreadClose to zero on major FX pairs
    Trading PlatformMT4, MT5, mobile trading
    Payment MethodCredit/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 Support24/5 live chat, contact form
    Tel: +44 20 3734 1025
    Regional RestrictionsThe 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

    FXTM Information

    FXTM (Forex Time), established in 2011, is a globally recognized forex and CFD broker regulated by both the Financial Services Commission (FSC) of Mauritius and the Financial Conduct Authority (FCA) in the UK. The company serves over 2 million clients across 150 countries, offering services in 18 languages. FXTM provides a diverse range of trading instruments including forex, metals, commodities, stocks, indices, cryptocurrencies, and various CFD products. The platform is known for its cost-effective trading solutions with competitive variable spreads that can reach as low as 0 pips. Traders can access the market through its user-friendly MT4 and MT5 trading platforms, available on desktop, web, and mobile devices, enabling convenient trading anytime and anywhere.

    FXTM's homepage

    FXTM Pros and Cons

    ProsCons
    • Regulated by FCA and FSC (Offshore)
    • High minimum deposit
    • Tailored account types
    • No 24/7 customer support
    • Demo accounts available
    • Region restrictions
    • Access to MT4 and MT5
    • Multiple funding and withdrawal options
    • Free eductaional resources
    • Rich trading tools
    • High-quality customer support

    Is FXTM Legit?

    FXTM operates under a strong regulatory frame, and it has several entities that are regulated in different jurisdictions:

    Regulated CountryRegulated AuthorityRegulated EntityLicense TypeLicense NumberCurrent Status
    FCAExinity UK LtdStraight Through Processing (STP)777911Regulated
    FSCEXINITY LIMITEDRetail Forex LicenseC113012295Offshore regulated

    Regulated by FCA

    Regulated by FSC

    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 AssetsSupported
    Forex
    Stocks
    Indices
    Precious Metals
    Commodities
    Cryptocurrencies
    CFDs
    Futures
    Options
    ETFs

    Market Intruments

    Account Type

    FXTM offers three different types of trading accounts, which are the Advantage account, the Advantage Plus, and the Advantage Stocksaccount. All accounts require a minimum deposit requirement of 200. Each account type has its own unique features and benefits, such as different spreads, commissions, and trading instruments.

    Account comparison

    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.

    How to Open an Account?

    • To open an account with FXTM, you first need to visit their website and click on the “OPEN ACCOUNT” button on the top right-hand corner of the page.
    click on the OPEN ACCOUNT button
    • This will take you to the account registration page where you will need to fill out some basic personal information like your name, email address, and phone number.
    Fill in required info
    • Next, you will be asked to choose the type of account you want to open. FXTM offers three main account types - Advantage, Advantage Plus, Advantage Stocks, each with its own features and benefits. You will also need to select the base currency of your account and agree to the terms and conditions of the broker.
    • Once you have selected your account type and base currency, you will be prompted to provide some additional personal information like your date of birth, occupation, and address. You will also need to answer a few questions about your trading experience and investment goals.
    • After you have completed the registration process, you will need to verify your account by providing some additional documents like a copy of your ID or passport and a proof of address like a utility bill or bank statement.
    • Finally, once your account is verified, you can then make your first deposit and start 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 TypeSpreadCommission
    AdvantageFrom 0.0 pips$3.5 per lot traded on FX
    Advantage PlusFrom 1.5 pips
    Advantage StocksFrom 6 cents
    Spreads
    Spreads & commissions

    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.

    trading-platform

    MT4 vs MT5

    FXTM Copy Trading

    FXTM Invest is an advanced copy trading feature offered by FXTM, designed to make trading accessible to investors of all experience levels. With a low entry threshold of just $100, this platform allows users to automatically replicate the trades of experienced Strategy Managers. FXTM Invest stands out for its attractive pricing model, offering zero spreads on major FX pairs and a performance-based fee structure where investors only pay when their chosen Strategy Manager generates profits.

    The process of getting started with FXTM Invest is streamlined into five simple steps: signing up or logging in to MyFXTM, selecting a Strategy Manager, opening an Invest account, making a deposit, and then watching as the system automatically copies your chosen manager's trades. This user-friendly approach, combined with the ability to maintain full control over your funds, makes FXTM Invest an appealing option for those looking to tap into the forex market with the guidance of seasoned professionals.

    FXTM Copy Trading

    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.

    FXTM charges €/£/$3 or ₦ 2,500 fee for any deposit under €/£/$30 or ₦25,000.

    Deposit & Withdrawal

    Educational Resources

    FXTM offers various free educational resources including glossary, market analysis and guides.

    Educational Resources

    Besides, their educational resoucres are friendly both for beginners and professionals.

    For example, trading basics are suitable for beginners who want to learn some basics, while advanced guides are more suitable for traders who are experienced.

    Trading basics
    Advanced guides

    Customer Support

    FXTM is known for providing excellent customer support to its clients, including live chat, contact form and phone. The customer support team is available 24/5 and is multilingual, which means clients can communicate with them in their preferred language.

    Here are their headquarters and other office locations.

    HeadquarterHeadquarter Address5th Floor, NEX Tower, Rue du Savoir, Cybercity 72201
    CityEbene
    CountryMauritius
    Other offices#City/iesMauritius, Dubai, London, Hong Kong, Lagos, Limassol
    Contact form
    Contact info

    FXTM also provides an extensive Help Center section on their website that covers various topics, such as account opening, deposit and withdrawal methods, trading platforms, and more. This section is helpful for clients who prefer to find answers to their questions without contacting the support team.

    Help center

    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.

    FAQs

    Is FXTM legit?

    Yes, FXTM is regulated by FCA and FSC (Offshore).

    What trading instruments are available on FXTM?

    FXTM offers a range of trading instruments including forex, metals, commodities, stocks, indices, cryptocurrencies, and CFDs.

    What is the minimum deposit required to open an account on FXTM?

    $/€/£/₦200

    What trading platforms are available on FXTM?

    FXTM offers three chocies of trading platforms including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, as well as mobile trading.

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

    News

    NewsBroker Comparsion: FXTM vs AvaTrade

    FXTM and AvaTrade are two well-established online brokers offering forex and CFD trading across global markets. Both enjoy strong reputations and high ratings on WikiFX—FXTM holds an AAA overall rating, while AvaTrade scores 9.49/10, indicating they’re regarded as reliable choices by the community. However, since brokers have great reputation in the industry, how do we know which one is more suitable for individuals to invest in? Today's article is about the comparison between FXTM and AvaTrade.

    WikiFX
    2025-04-29 15:06
    Broker Comparsion: FXTM vs AvaTrade

    News2025 FXTM Comprehensive Review

    Description: This article provides a thorough review of FXTM from multiple perspectives, including its basic introduction, fees, safety, account opening, and trading platforms.

    WikiFX
    2025-02-17 13:38
    2025 FXTM Comprehensive Review

    Review【今日汇市】12月18日交易策略

    技术策略:美元/加元 (USD/CAD) –惨遭利空重重围困,加元刷新疫后低点日线图看,因遭特朗普关税,通胀汇率助长降息预期,以及政Z动荡等因素重重围困,加元创出疫情来的4年多新低。走势看,美加加速上破11月来宽幅震荡升势上轨,呈现超强攻势。后续阻力需追溯到2020年3月31日反弹高点1.4350,随后料1.4400整数关预计也有一定抛压。下一中短期目标瞄准2022-23年跌势的1.618倍映射位

    WikiFX
    2024-12-18 11:40
    【今日汇市】12月18日交易策略

    ExposureNBI PH Rescues 84 Filipinos from Alleged Forex Trading Scam in Pampanga

    NBI Philippines rescues 84 Filipinos in Pampanga, from a scam hub posing as a BPO allegedly involved in FXTM USDT Forex Trading. Authorities target cybercrime violations in the Philippines.

    WikiFX
    2024-09-25 17:03
    NBI PH Rescues 84 Filipinos from Alleged Forex Trading Scam in Pampanga

    User Reviews

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    User comment

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    Comments

    Write a review

    FX2209807951
    more than one year
    没激活不让出金
    没激活不让出金
    Translate to English
    2025-05-19 11:08
    Reply
    0
    0
    星辰9516
    more than one year
    诈骗平台,无法出金
    诈骗平台,无法出金
    Translate to English
    2025-05-04 23:21
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