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FXTM Review

Published by Usman Ahmed, MBA (Researcher)

Reviewed by Bowen Khong, ACCA

FXTM is an online broker best known for its seamless trading conditions and rich educational resources. The company offers multiple financial instruments, including forex, stocks, indices, metals, and commodities. 

Due to competitive pricing, user-friendly trading platforms, flexible account types, and quick account setup, the broker is equally popular amongst novice and veteran traders. 

In this piece, I review the broker in detail. 

Overview 

FXTM is the brand name of Exinity Group. Headquartered in Mauritius, the company started its operations in 2011. With more than 800 employees and a network of 10 regional offices across the globe, the company holds multiple regulations in various jurisdictions, including Europe, Asia, Africa, and Latin America. Over the years, the company has won more than 25 industry awards and became a trusted platform for over 2 million clients worldwide. The broker accepts clients from all parts of the world, excluding Mauritius, Japan,  Brazil, Canada, Cyprus, Hong Kong, and the USA.

ProsCons
Multiple regulations
Rich educational tools
Efficient customer support
Low spreads
Copy-trading services are available
Limited product range
Does not accept US clients 
Outdated research section
Charges in-activity fee

Who is FXTM for? 

FXTM is well suited for all types of traders, including retail and institutional investors. With flexible accounts types and a reasonable range of financial instruments, the broker makes it convenient for traders to customise their trading selection. 

Low trading cost and instant order execution can work best for scalpers. On the other hand, free educational resources and unlimited demo accounts enable both novice and professional traders to improve their trading skills. FXTM also offers a copy trading program where clients can copy the trades of the world’s best trading professionals. Moreover, the broker also offers free webinars to help newcomers learn and grow fast.

Rating: 4/5

Sign up bonus: The broker does not offer a sign-up bonus. However, clients are entitled to receive a bonus of $50 upon a referral account. 

Is FXTM Safe? 

Yes, FXTM is a safe brokerage firm that offers regulated trading services to its clients across the globe. 

Operating under the brand name of Exinity Group, the broker holds regulations from the world’s most respectable regulatory authorities, such as Cyprus Securities and Exchange Commission (CySEC – Cyprus), Financial Conduct Authority (FCA – UK), and Financial Services Commission (FSC – Mauritius). 

Also, the company is a registered member of the Financial Commission – the dispute resolution organisation. 

In addition, the company employs advanced security protocols to protect clients’ personal and financial information, including SSL web encryptions and two-step authentication factors. 

Besides keeping clients’ investments in segregated bank accounts, the broker is obliged to compensate clients under the fund’s insurance program in registration with the Financial Commission. Clients can claim their financial losses of up to €20,000 if the company goes into liquidation. Multiple regulatory frameworks along with funds insurance plans make the broker undeniably a safe investment opportunity.

Rating: 4/5

Year founded:2011
Publicly traded: No
Licenses: CySEC, FCA, FSC
Backlist: Nil

Offering of Investments 

Ranging from currency trading to price speculations in CFD contracts, the broker has a fair range of financial instruments available. However, depending upon the selected account type, the options of available assets could be limited.

For instance, indices and stock CFDs are not available for micro account holders at FXTM. While UK Brent Oil, US Crude Oil, and US Natural Gas make part of FXTM commodities CFDs, clients can trade spot metal against major currencies i-e XAUUSD, XAGUSD, XAUEUR, XAGEUR, and XAUGBP. 

Other products include but are not limited to indices and stock baskets. Not to mention the product portfolio may also vary from country to country. Therefore, it is best to confirm the availability of your favourite financial instrument from the broker before signing up with it.

Rating: 4/5

Forex: Spot TradingYes
Currency Pairs (Total Forex pairs)60+
Social Trading / Copy-TradingYes
CFDs instrumentsForex, Shares, Stocks, Indices, Commodities,  

Commissions & Fees

FXTM trading cost falls within the range of average industry standards. Keeping the pricing structure competitive, the broker charges variable spreads starting from 0.1 pips on major FX pairs. The average spread cost on different tradable assets remains between 1.2 pips to 1.5 pips. The broker also charges a floating commission. That means with higher trading volume, the commission could be as low as $0.40.

Currently, the broker offers three types of accounts, including Micro, Advantage, and Advantage Plus. While the minimum investment to open a Micro account starts from $50, clients need to deposit $500 to sign up for the Advantage and Advantage Plus accounts. 

In addition, Mirco account holders can have access to fixed leverage between 1:3 to 1:1000 on FX pairs, while 1:500 leverage is available for trading metals. 

FXTM offers more than 40 payment methods to enable clients to fund their accounts conveniently.  Also, there is no fee on deposits. However, depending upon your selected payment method, you may need to pay some charges on withdrawals. 

The company processes deposits instantly, while withdrawals are processed within 24 hours. Not to mention, wire transfers can even take between 3-7 business days. The broker also applies an inactivity fee of $5 on dormant accounts if the inactivity period exceeds six months. 

Rating: 4/5

Minimum Initial Deposit$50
Average Spread EUR/USD – Standard1.2 Pips
All-in Cost EUR/USD – Active1.5 pips
Minimum withdrawal Not Specified

Platforms & Tools 

Unlike other brokers, FXTM does not offer a proprietary trading platform. However, clients can use the industry’s most renowned trading platforms MT4 and MT5 at FXTM. Besides being easy to use,  both MT4 and MT5 trading platforms come with all the basic and advanced trading tools necessary for a fruitful trading experience.

In addition, traders can access MT4/MT5 in more than 30 languages. The customizability feature makes the platforms even more appealing. Clients can adjust the position and size of the tabs as per their convenience. However, adding an asset to the watch list while using the web-based version of MT4/MT5 on FXTM is not less than a headache.

MT4/MT5 trading platforms support all basic order types, including market, stop, limit, and trailing stops. However, the trailing stop feature is not available in the web-based version at FXTM. Also, the web terminal doesn’t support the price alert feature. 

Therefore, clients need to use the desktop trading platform to incorporate trailing stops and receive price notifications. Other features include interactive charts, real-time market analytics, trend identifications, multiple time frames, etc.  Clients can also generate portfolio and fee reports under the history tab on the web terminal at FXTM.

Rating: 3.5/5

Virtual Trading (Demo)Yes
Proprietary PlatformNo
Desktop Platform (Windows)Yes
Web PlatformYes
MetaTrader 4 (MT4)Yes
MetaTrader 5 (MT5)No
Charting – Indicators / Studies (Total)130+
Charting – Drawing Tools (Total)20+
Charting – Trade From ChartYes
Order Type – Trailing StopYes (Only in Desktop Version of MT4)

Research  

The research section seems to be a little outdated as compared to other competitors. While the fundamental data is not available, clients need to rely upon trading ideas, charting tools, and news feed on FXTM. Since it’s not common amongst brokers to offer news feed on MT4/MT5 platforms, FXTM has a certain edge over its rivals. 

Moreover, clients can access trading ideas in the trading signal section available under the trading services tab. In addition, the economic calendar filters make it very convenient for users to customise the information according to their needs.

Finally, the market analysis section keeps traders abreast of the market. The analytics section includes the FXTM Pivot Point Strategy research tool that helps traders find possible price moves and market sentiment. 

Overall, the research facility of the broker seems fine. However, I believe the broker could have offered some additional research tools. At least, the fundamental analysis tool shouldn’t have been the missing one.  

Rating: 3.5/5

Education  

Unlike the research section, FXTM educational resources come in abundance. While video tutorials help traders learn basic and advanced trading concepts, the glossary section makes it easy for traders to understand complex trading jargon and terminologies. 

Educational articles are yet another commendable part of the educational library of FXTM. The broker also offers a demo account to help traders learn key trading skills and try different money management strategies without risking their real capital.

Lastly, the company also offers free webinars enabling traders to interact with FXTM trading professionals and ask them queries to improve their trading knowledge.

Rating: 4/5

Mobile Trading 

The broker doesn’t have a custom-built mobile trading app. Therefore, clients need to download the MT4/MT5 mobile trading platforms to their mobile devices. MT4 mobile trading app is supported across all iOS and Android-based mobile phones and tablets. 

After having the mobile platform installed on your device, you need to access the FXTM server to continue trading. While the MT4 mobile app is easy to navigate, searching your favourite assets is also very convenient. 

In addition, all order types, including the trailing stops, are available in the mobile version. The price alert feature is also accessible via push notifications. 

Rating: 3/5

Mobile devices Android &  Apple 
FeaturesWatchlist, charting tools, negative balance protection, price alerts.

Final Thoughts 

FXTM is a multi-regulated broker that offers cost-effective trading solutions to customers under one roof. Besides competitive spreads and generous leverage, the broker’s copy trading feature is applaudable. 

In addition, funds insurance plan along with advanced security protocols make it relatively safe for investment. While the product range lacks variety, the company’s research section also needs to be updated.

Finally, rich educational resources, advanced analytical tools, and round the clock customer support makes the broker a competitive choice for both novice and skilled investors.

Overall rating: 4.4/5

Usman Ahmed, MBA (Researcher)
Usman Ahmed, MBA (Researcher)
Usman Ahmed is a currency trader and financial market analyst with more than 7 years of active trading experience. Besides holding a Masters degree in Business Administration, he has worked for some of the most renewed companies in the forex industry including FXCM, IQOption, MetaQuotes, Alpari, FXStreet, DailyFX and several others. Usman possesses strong technical analytical skills and is famous for his very own, informative and entertaining, writing style. He believes in naked chart trading analysis that is commonly known as price action trading. He follows global financial news and macro-economic events very closely.
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