FXTM review
FXTM (part of Exinity) holds both CMA and FSCA licences and lets Nigerians hold NGN accounts. Withdrawal fees on every method and higher Micro spreads drag its cost score down.
#4 of 10
Score breakdown
Calculated automatically from the facts on this page. How we score.
Pros and cons
What we like
- Two African licences
- NGN accounts
- Good education
- Support on weekends too
Watch out for
- Withdrawal fees on all methods
- M-Pesa not listed for Kenya
- Higher spreads on Micro
Licences — verify them yourself
| Regulator | Entity | Licence | |
|---|---|---|---|
| CMA Kenya | Exinity / ForexTime Kenya | Licence 135 | Verify on register ↗ |
| FSCA South Africa | ForexTime South Africa | FSP 50320 | Verify on register ↗ |
| FCA United Kingdom | ForexTime Ltd | FRN 777911 | Verify on register ↗ |
| FSC Mauritius | Exinity Ltd | C119470 | Verify on register ↗ |
Search the entity name or licence number on the regulator's own site. If they don't match exactly, don't deposit.
Accounts and costs
| Account | Min deposit | EUR/USD spread | Commission |
|---|---|---|---|
| Micro | $10 | ~1.5 pips | None |
| Advantage | $500 | From 0.0 pips | $0.40–$2/side |
| Advantage Plus | $500 | ~1.5 pips | None |
Micro, Advantage and Advantage Plus accounts on MT4/MT5 and the FXTM Trader app, plus FXTM Invest copy trading.
Deposits and withdrawals
- Payment methods
- Nigerian bank transfer · Visa / Mastercard · Skrill · Neteller · Bank wire
- Withdrawals
- Fees on every method (bank €1–30, e-wallets 0.5–2%)
- Deposit currencies
- USD, EUR, GBP, NGN
- African-currency accounts
- NGN
Platforms and markets
- Platforms
- MT4, MT5, FXTM Trader app
- Execution
- Market execution
- Instruments
- 1,000+ — FX, metals, indices, stocks, commodities
- Currency pairs
- 62 currency pairs
- Copy trading
- Yes
- Islamic accounts
- Yes
Support
24/5 plus weekend hours · chat, WhatsApp, Telegram, phone · 22+ languages
FAQ
Is FXTM regulated in South Africa?
Yes. ForexTime South Africa is authorised by the FSCA (FSP 50320). Check the number yourself on the FSCA register.
Is FXTM regulated in Kenya?
Yes. Exinity / ForexTime Kenya holds a CMA licence (Licence 135). Leverage for Kenyan clients is capped at 1:400.
Is FXTM regulated in Nigeria?
No broker is licensed for online forex by SEC Nigeria yet. The SEC published draft rules in September 2026; until they take effect, Nigerians trade with offshore entities.
What is the minimum deposit at FXTM?
$10 Micro · $500 Advantage. Payment methods can set their own minimums.
Can I deposit with M-Pesa?
Not that we could confirm. Supported methods: Nigerian bank transfer, Visa / Mastercard, Skrill, Neteller, Bank wire.
Which platforms does FXTM offer?
MT4, MT5, FXTM Trader app.
How is the 7.2/10 score calculated?
From five weighted factors — regulation 30%, costs 20%, funding in Africa 20%, platforms 15%, support 15% — applied to the facts on this page. See "How we score" on our About page.
Sources: FXScouts Kenya ↗ · Last checked Oct 2026