FXTM

FXTM, short for ForexTime, is a global forex and contract-for-difference (CFD) broker that began operations in September 2017. The company is officially registered as Exinity Limited and is headquartered at the 5th Floor, NEX Tower, Rue du Savoir, Cybercity, Ebene, Mauritius. Despite a relatively short history under its current legal structure, the FXTM brand has established a strong international presence, marketing itself to retail traders in regions including Africa, Asia, and the Middle East.

The broker claims to have been 'founded in 2011', but corporate records show the current legal entity was incorporated in 2017. FXCanary has not been able to verify whether earlier iterations of the business exist under different jurisdictions. This discrepancy is a point of note for traders who value operational transparency.

According to FXCanary’s regulatory checks, FXTM operates under three financial licenses: the Financial Services Commission (FSC) of Mauritius (licence no. C113012295), the Financial Sector Conduct Authority (FSCA) of South Africa (licence no. 50320), and the Capital Markets Authority (CMA) of Kenya (licence no. 135). Each of these permits the broker to offer leveraged trading products to clients within and sometimes outside the respective jurisdictions.

The Mauritian FSC license is an offshore regulatory category that offers limited client-fund protection compared to top-tier authorities like the UK’s FCA or Australia’s ASIC. South Africa’s FSCA and Kenya’s CMA provide stronger local oversight, but they primarily serve traders in those specific countries. Notably, FXCanary’s records do not contain an active FCA licence, despite company statements suggesting otherwise. This means traders in highly regulated markets, such as the UK or Europe, should seek further verification before depositing.

FXTM structures its trading accounts into two main tiers: ADVANTAGE PLUS and ADVANTAGE. Both accounts provide extremely high leverage—up to 1:3000—which is far above the caps seen in Europe or the US. Such high leverage can amplify both gains and losses dramatically.

The ADVANTAGE PLUS account has spreads starting from 1.5 pips and charges no explicit commission, while the ADVANTAGE account offers raw spreads from 0.0 pips but adds a commission based on trading volume, averaging between $0.4 and $2 per lot. Curiously, the broker does not publicly disclose a minimum deposit requirement for either account, which may imply flexibility but also leaves potential traders in the dark about initial capital needs.

The broker provides access to a broad array of asset classes. Traders can speculate on forex pairs, commodities (such as gold and oil), spot metals, global stock indices, ETF and stock CFDs, cash equities, and a selection of cryptocurrencies. This diverse portfolio is positioned to appeal to traders looking for a one-stop shop for multi-asset speculation.

FXTM does not, however, publicly specify which trading platforms are supported in its formal offering documents. Industry practice suggests that MetaTrader 4 and MetaTrader 5 are likely available, but some user reviews mention login difficulties with MT5, so confirmation directly with the broker is advisable.

FXTM states that deposits can be made via bank transfer. There is no mention of alternative methods such as credit cards, e-wallets, or cryptocurrencies in its official materials, though user reviews sometimes reference crypto deposits. Withdrawal methods are not listed at all, which is unusual for a modern broker and may raise concerns about the ease of getting funds out.

User reviews consistently flag two important points: the broker sometimes enforces a same-method withdrawal policy, and fees can be levied for deposits and withdrawals by certain payment providers. The lack of upfront clarity on these costs means traders should request a detailed fee schedule before committing capital.

The combination of ultra-high leverage (1:3000), a wide instrument range, and offshore regulation suggests that FXTM is primarily aimed at experienced traders who are strategically willing to accept higher counterparty risk in exchange for flexible trading conditions.

For beginners, or for those who place a premium on strict regulatory protection and transparent fee structures, the broker’s profile raises significant red flags. Because the broker operates mainly from a Mauritian base with supplementary African licences, legal recourse in the event of a dispute may be more complex than with brokers regulated by top-tier EU or UK watchdogs.