Overview
FXTM (ForexTime) was founded in 2011 and is regulated by FCA, CySEC, FSCA, FSC Mauritius, and CMA Kenya, serving over 2 million clients across 180+ countries. The broker is particularly strong in Africa and emerging markets, offering a very low $10 minimum deposit, multiple account types with raw spreads from 0.0 pips, comprehensive education, and a Profit Share copy trading model that makes it accessible for traders with minimal capital.
Pros
- Very low minimum deposit: Start with just $10 on the Micro or Standard account
- Strong African and EM presence: Multilingual support, local payment methods, and regional offices
- Multiple account types: Micro, Standard, Advantage, and Advantage Plus — something for everyone
- Comprehensive education: Webinars, courses, eBooks, and trading tools across multiple languages
- Copy trading: FXTM Invest programme with Profit Share model — copy for free
Cons
- Standard account spreads higher: EUR/USD averages 1.5 pips on Micro/Standard accounts
- Advantage Plus commission model: $2/side commission on top of variable spreads
- Limited platforms: Primarily MT4 and MT5 — no cTrader or TradingView integration
- FCA entity restrictions: FCA entity does not always cover all retail clients globally
- Less competitive for advanced traders: Better pricing available at IC Markets or Pepperstone
Spreads & Fees
| Account Type | EUR/USD Spread | Commission | All-In Cost |
|---|---|---|---|
| Micro | Avg 1.50 pips | None | ~1.50 pips |
| Standard | Avg 1.50 pips | None | ~1.50 pips |
| Advantage | Avg 0.40 pips | $2.00/side | ~0.80 pips |
| Advantage Plus | From 0.0 pips | $2.00/side | ~0.40 pips |
Overnight (Swap) Fees: Standard rates; Islamic accounts available. Withdrawal Fees: Free for most methods. Inactivity Fee: $5/month after 6 months of inactivity.