scambrokersreview.com
| Regulation | FCA, CySEC, FSCA, CMA Kenya, FSC Mauritius |
| Founded | 2011 |
| Min. Deposit | USD 10 |
| Platforms | MT4, MT5, FXTM Trader App |
| Spread From | 0.0 pips (ECN) |
Overview
FXTM (ForexTime) is a Cyprus-based broker founded in 2011 that has built a large global presence particularly in Africa and the Middle East. Regulated by FCA and CySEC among others, it offers a range of account types including ECN options and has been recognised for its educational and webinar programme.
Regulation and Safety
FCA licence 600475 and CySEC licence 185/12 are the most significant. FSCA covers South Africa, CMA Kenya covers East Africa. FSC Mauritius is an offshore entity used for some Asian markets with reduced protections. UK and EU clients under FCA and CySEC receive meaningful regulatory protection including fund segregation.
Trading Conditions
ECN accounts: raw spreads from 0.0 pips with commission. Standard accounts: from 1.5 pips, no commission. Cent accounts: USD 10 minimum, micro-lots for risk management. USD 10 minimum on standard accounts is accessible. Leverage up to 1:2000 on offshore entities.
Pros and Cons
- FCA and CySEC regulated
- Very low USD 10 minimum deposit
- Genuine ECN account option
- Strong educational programme
- Centbased account for beginner practice
- FSC Mauritius entity used for many non-EU clients
- Offshore leverage is excessive and risky
- Spreads on standard accounts are higher than ECN peers
- Customer support response times vary by region
Verdict
FXTM is a reasonable choice for traders who can confirm their account is under the FCA or CySEC entity. The low minimum deposit and educational content make it beginner-accessible. Non-EU traders should carefully verify their entity as Mauritius protections are significantly weaker.
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