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FXTM Reviewed

ForexTime Review


Overall Rating

Min Deposit

USD 10



Trading Desk

MT4, MT5



Total Pairs


Islamic Account


Trading Fees


Account Activation

24 Hours


Forex Trading Africa annually reviews forex brokers regarded as the best in the world who accept South African traders. We provide valuable information on the platforms, analysis, and tools as well as pricing for you to base your decision on when choosing the right broker for your trading needs.

To trade forex in South Africa, you need to open an account with a regulated broker. Forex is traded over-the-counter through a network of brokers and financial institutions as opposed to a centralized exchange. Forex is a risky instrument to trade. You can minimize the risk by trading through a regulated forex broker who you can trust.

Choose your quick section of our Forextime review below.


A Quick Overview of our Forextime Review:



FXTM at a glance



Founded by

Andrey Dashin

Based in

Kato Polemidia Limassol, Cyprus

Regulation and license

FCA: Financial Conduct Authority UK

CySEC: Cyprus Securities and Exchange Commission

FSC: Financial Services Commission Republic of Mauritius

FSCA: Financial Sector Conduct Authority South Africa

IFSC: International Financial Services Commission Belize


Does FXTM accept forex traders in South Africa?



Does FXTM accept forex traders in the USA?










Best forex broker for

FXTM is recommended for beginners, intermediate and advanced forex and CFDs traders who are interested in trading multiple financial assets via the popular MetaTrader platforms or a proprietary platform.


Trading platform

MetaTrader 4

MetaTrader 5

FXTM Trader (mobile trading app)


Trading model

No Dealing Desk (NDD) : all client trades are executed with no dealing desk intervention with up to 2 000 trades executed per second


NewFXTM Invest is available on the ECN account


Web-based trading platform


Mobile trading app


Minimum deposit

Minimum deposit US$10 (R154)*

* Conversion rate at January 2023



Floating leverage up to 1 000:1 on major currency pairs



Flexible floating spreads on ECN MT4; the higher your equity and the larger your trading volume, the lower the commissions you pay.


You can trade with fixed and variable spreads which are among the lowest in the industry, starting from just 0.1 on ECN accounts and 0.5 on Standard accounts.


Scalping and hedging

Hedging trade is available for all account types

Scalping is available on ECN accounts


FXTM deposits

Wire/bank transfer

VISA or Mastercard debit/credit card




Other local payment methods


FXTM withdrawals

  • Go the Withdraw page within the ‘My Money’ section in MyFXTM
  • Select the payment method and click Withdraw
  • Select the MyFXTM account or wallet you wish to withdraw funds from and complete the fields
  • Select a reason for withdrawal and enter the PIN that was to you via email or SMS and click Submit


Account currency

US Dollar


Pound Sterling

Nigerian naira


Client base

Over 1 million registered clients (2020)


Most recent awards

  • Best Trading Experience : World Finance 2020
  • Best ECN Broker : Daytrading.com 2020
  • Best Forex Broker in Nigeria : Forextrading.ng 2020
  • Best Education Provider : Fxdailyinfo.com 2020


Customer support

Multilingual 24-hour, Monday to Friday

Live phone support operates in several locations on a toll-free number

Live chat available on the FXTM app



ForexTime Limited (FXTM) is a multi-asset retail broker that was founded by the owner of Alpari International. FXTM clients have access to over 250 financial instruments and a choice of the MetaTrader 4, MetaTrader 5 and WebTrader trading platforms. Financial instruments include CFDs in forex, commodities, indices, futures and shares.


Founded in 2011, FXTM is one of the most successful brands operating within Exinity Group. The Group has a global network of offices and regulations that spans Europe, Africa, Asia and Latin America. It has already attracted over 3 million clients across 180 countries.


The global brokerage has proven itself to be a reliable, regulatory-compliant and safe forex broker. FXTM is regulated by top-tier authorities which includes the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in Europe and the Financial Services Commission (FSC) in the Republic of Mauritius. FXTM is regulated by the FSCA in South Africa and accepts forex brokers in South Africa.


The brokerage offers rapid order execution with tight CFDs spreads and deep floating leverage up to 2 000:1 on the Standard account. FXTM clients have a choice of manual, automated, social and copy trading features. It is a MetaTrader and No Dealer Desk (NDD) retail broker.


FXTM is a good broker for copy traders. The company recently launched FXTM Invest which helps FXTM Copy traders find and copy thousands of experienced Strategy Managers. FXTM Invest is available with the ECN Account and offers clients over 5 000 trading strategies to copy.  Clients in the United Kingdom also have the option of accessing spread-betting markets.


FXTM offers more than 30 funding options and zero deposit and withdrawal fees. You can open a live account with only $10 and start trading immediately. Beginner forex traders have zero-risk experience using the FXTM Demo account.


Overall Rating

Min Deposit

USD 10



Trading Desk

MT4, MT5



Total Pairs


Islamic Account


Trading Fees


Account Activation

24 Hours


Is FXTM safe to use?

FXTM has been in business for over 10 years and has a reputation for being a safe and reliable retail broker for forex and CFDs traders. FXTM is licensed and regulated by two top-tier regulatory authorities: FCA in the UK and CySEC in Cyprus.


FXTM is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa and considered safe to use by forex traders in the country.


Deposit insurance

FXTM UK Limited is a member of the Financial Services Compensation Scheme (FSCS).


FSCS protects customers when authorized financial services firms fail. You could be entitled to compensation of up to £85 000.


Segregation of funds

All client funds are fully segregated from the company’s own funds and kept in separate bank accounts in major European banks. This ensures that FXTM client funds cannot be used for any other purpose.


Negative balance protection

FXTM offers Negative Balance Protection (NBP) for all clients, regardless of their categorization and jurisdiction. This ensures you cannot lose more than your total deposits.


What does FXTM offers its clients?


FXTM offers floating leverage up to 2 000:1 on the Standard account.

Leverage refers to how much of a position a trader can control with funds allocated to it by the broker. Leverage of up to 2 000:1 means an FXTM client can control a position of US$200 000 with only US$100 of his or her own funds.


Competitive spreads and fees

FXTM offers competitive spreads starting from 1.3 pips on the Standard MT4 trading account and from 0.1 pips on the ECN MT4 and ECN MT5 trading accounts.


All accounts offered by FXTM are spread only, meaning they are commission-free.


FXTM CFDs fees are higher than the industry average. The brokerage charges an inactivity fee and in some cases, a withdrawal fee.


Web-based and mobile trading

FXTM offers clients three trading platforms:

  • MT4 and MT5 available on your PC or mobile device
  • MT4 and MT5 WebTrader available for your PC


FXTM trading app

FXTM mobile app is available in both iOS and Android.


Free Demo Account

FXTM offers Standard, Cent, ECN and ECN Zero accounts in demo formats. These demo accounts are funded with virtual cash which means you can learn how to trade with no risk of losing real money.


Derivative trading instruments

FXTM offers multiple derivative trading instruments with a focus on forex, indices and CFDs. A derivative is a contract between two or more parties where the value of the underlying asset is agreed upon and settled when the contract is closed. Parties do not take ownership of the financial asset, they merely speculate on price changes.


The most common derivatives are Futures, Forwards, Options and Swaps. Most derivative instruments are traded over-the-counter (OTC) meaning trading bypasses a central exchange.


FXTM product portfolio

Forex 70 plus : majors, minors and exotics
Indices Trade CFDs on popular Indices from across Europe, Asia and America
Stock CFDs Derived pricing NASDAQ and NYSE
Shares Trade CFDs on the Shares of 150+ global companies
Commodities Including oil, natural gas, cocoa, coffee, copper, cotton and sugar
Precious metals Including platinum, gold and silver
Cryptocurrencies Including Bitcoin, Ethereum and Ripple


MetaTrader trading platforms

FXTM is a MetaTrader broker which means its clients have access to one of the world’s most popular electronic trading platforms. MetaTrader 4 (MT4) and MetaTrader 5 (MT5) offer virtually all the charting, analysis and indicators a forex broker in South Africa needs, regardless of level of expertise.


MT4 and MT5 are available for desktop, web trading, multi-terminal trading and trading on mobile devices. This includes Android, iPhone and iPad.


Standard accounts

FXTM offers three types of Standard accounts and all three are available in the Demo format. The Standard accounts use instant order execution which means you can set your stop loss and take profits at the same time as placing trades. Spreads are typically wider on the Standard accounts and a lower minimum deposit is required.


ECN accounts

FXTM has two main accounts for retail forex brokers and one for professional traders that requires a higher minimum deposit. The FXTM ECN accounts use market execution to execute orders. Spreads are narrower on the ECN accounts.


FXTM Demo account

FXTM offers a free Demo experience on four different account types:

Standard account   Competitive spreads, all round offering
Cent account   Same competitive spreads, smaller trade sizes
ECN account   Most popular ECN account, super tight spreads
ECN Zero account No commissions, no requotes, tight spreads  


FXTM Invest

FXTM Invest is an innovative copy-trading platform that was developed by FXTM Research and Development team. It was designed for investors to follow expert trading strategies and receive a portion of the profits and for Strategy Managers to earn extra by generating profits for FXTM clients.


FXTM Strategy Managers share their trades and can earn up to 40 percent profit share when they generate profits for investors. Strategy Managers also give an overview of their trading strategies and/or trading schedule.


FXTM Invest is available on ECN Zero and the MT4 platform. No extra fee is charged for using FXTM Invest.


The minimum deposit required for FXTM Invest is:

  • Strategy Manager on ECN Zero: 200 USD/EUR/GBP
  • Strategy Manager on ECN MT4: 500 USD/EUR/GBP
  • Investor: 100 USD/EUR/GBP


Multiple analysis and trading tools

FXTM offers clients a wide choice of analysis and trading tools.

The most popular are:

  • Fundamental analysis
  • Technical analysis
  • Sentimental analysis
  • Forex daily signals
  • Support resistance
  • Expert Advisors
  • Free education series
  • Guardian Angel
  • eBook
  • Social Trading
  • Economic Calendar
  • Daily forex news


FXTM Market Analysis

Daily market analysis

Live Economic Calendar

Forex News Timeline

Market analysis videos

Quarterly market forecast

Yearly market overview


FXTM Virtual Private Server (VPS)

FXTM offers a VPS that allows clients to upload and run MT4 Expert Advisors (EAs) and algo bots 24-hours a day without needed to keep a trading terminal running.

VPS is used to create applications for backtesting trading strategies.


FXTM Educational resources

FXTM produces a great selection of user-friendly, easy-to-read manuals and educational videos for beginners and intermediate traders. Webinars and training videos offer clients valuable industry tips on trading strategies and market insights. These are designed to improve clients’ trading knowledge and help them hone their trading strategies.


FXTM Islamic account

In observance of the Shariah Law, FXTM offers swap-free accounts to clients of the Muslim faith on the MT4 trading platform. The swap-free option is not available on the MT5 trading platform and does not apply on exotic currencies.


Types of FXTM standard accounts

Standard account
Trading platforms MT4 and MT5
Leverage Floating from 2 000:1
Spread From 1.3 pips
Minimum deposit $€£ 100
Margin call 40 percent
Stop Out 20 percent
Minimum volume on lot per trade 0.01
Maximum volume on lot per trade 30

Cent account
Trading platforms MT4
Leverage Fixed from 1 000:1
Spread From 1.5 pips
Minimum deposit $€£ 10
Margin call 60 percent
Stop Out 40 percent
Minimum volume on lot per trade 0.01
Maximum volume on lot per trade 10

Live account
Trading platforms MT4
Leverage Fixed from 1.10 for US shares and 1.3 for European shares
Spread From 0.1 pips
Minimum deposit $€£ 100
Margin call 40 percent
Stop Out 20 percent
Minimum volume on lot per trade 0.01
Maximum volume on lot per trade 10



FXTM is an award-winning multi-asset retail broker that is regulated by two top-tier authorities and has a reputation for being reliable, regulation-compliant and safe to use. FXTM is a MetaTrader broker, offers access to a wide range of financial instruments and has 6 types of accounts, comprising Standard and ECN accounts.


The brokerage is suitable for beginner, intermediate and advanced forex and CFDs traders. FXTM also appeals to Copycat traders having recently launched the NewFXTM Invest which allows clients to copy the trading strategies of expert Strategy Managers.


Customer support is responsive, there is a great selection of market analysis and educational material on the site, spreads are competitive and fees are generally on par with the industry average. FXTM charges a high fee for inactive accounts and, in some cases, for withdrawals. The non-trading fees is what make FXTM an expensive broker.


Forex Trading Africa disclaimer

Trading foreign currencies on margin carries a high level of risk and it may not be suitable for all traders and investors. Forex is a highly leveraged financial instrument and these high-risk stakes can result in you losing a substantial amount of money. Consider your appetite for risk before trading forex using real money on a live account.

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