Not having these exposed to the public doesn't necessarily mean that a broker is not reliable or legit, it's just a factor that we should take into account when choosing where to invest or trade. FXTM doesn't provide two-step authentication when logging in, which is not so pleasing, since it might be easier for hackers to compromise clients' accounts. Ownership structure of FXTM is not public, it can't be checked on their website, which leaves some questions open about one's feeling of being up-to-date about the broker.

FXTM is transparent about their management structure, which means that anyone can see who is in charge of management issues at the brokerage. FXTM is not audited by one of the so-called Big Four auditors KPMG, PWC, Deloitte, EY , which is not necessarily an issue, however it would guarantee another layer of reliability.

Take your time and compare at your own pace. Sign up to receive bite-sized emails on specific account opening processes, fee calculation, brokerage comparison and more. Now that we have gone through the most frequent and - as we think - most important reliability aspects of FXTM, we hope that you feel armed enough with information for your future decision.

In case you're still unsure, use our broker finder and meet the best online broker that suits your needs. Everything you find on BrokerChooser is based on reliable data and unbiased information. Read more about our methodology. Toggle navigation Menu Close. Compare brokers. Compare Broker tool. Compare selected brokers by their fees, minimum deposit, withdrawal, account opening and other areas. Filter according to broker or product type, including stocks, futures, CFDs or crypto.

Compare highest-rated brokers. Compare other popular brokers. Compare Digital Banks tool. Best brokers. Not sure which broker to choose? For a tailored recommendation, check out our broker finder tool. Answer a few simple questions and get a list of the most relevant brokers. Best brokers by category. Country-specific recommendations.

Trading Platform. Broker reviews. Online broker reviews crafted by our team of experts. Fees, minimum deposit requirements, withdrawal, account opening, research tools and more. We use over 50, data points and a consistent, fact-based methodology. ALL REVIEWS. Highest-rated brokers. Other popular brokers. Other reviews. For beginners.

For advanced users. Topics we cover. The secret sauce. Is FXTM legit? And who are they? Bence András R. FXTM reliability Things always worth considering Additional "nice to have" safety features Bottom line. Top 5 Brokers.

Get your personalized toplist:. Find my broker. You will then select any of the 3 Kenyan Payment Providers supported Safaricom M-Pesa, Airtel Money KE, and Equitel KE on the platform and enter your mobile number. Step 3 : Decide on a withdrawal method you want to use and click on the Withdraw button beside it then follow the prompts to complete your withdrawal.

Also, note that you need to get your account approved by uploading a valid ID card and proof of residence document before you can withdraw funds and access the full features on the platform.

When our team tested it, the wait time was less than 2 minutes and the answers provided were relevant. When you first click on the live support button, you will have to option to chat on WhatsApp, Telegram, Messenger, Viber, live chat, or request a callback.

If you choose the live chat option, the FXTM chatbot will request your name and email address, then it will first respond to you by showing some FAQs. To transfer to a live agent, simply type chat agent in the chat and a customer care representative will respond and answer your questions. Email support : The email support of FXTM is available for 24 hours from Monday to Friday.

When you send them an email, you get an auto-generated reply confirming they have received your enquiry and will respond soon. When our team tested it, we got feedback within a few hours and the answer was relevant. The email address of FXTM is [email protected] There is no local email address for Kenya. Physical office : There is no FXTM office in Kenya that clients can go to for enquiries.

FXTM does not have local phone support in Kenya. All bonuses offered on FXTM are subject to terms and conditions that you must meet. If you are eligible for the bonuses, you will need to accept the terms and conditions through your dashboard to participate. FXTM is considered a safe Forex broker to trade with for Kenya based traders because their parent company Exinity Group are licensed by Top-Tier financial regulators, like the FCA in the UK and FSCA in South Africa and they have a responsive online customer care support.

But they are not regulated with CMA in Kenya. What is FXTM minimum deposit in Kenya? Is FXTM good for beginners? Based on our research FXTM is good for beginners because they have demo accounts for you to try along with educational videos to help you build your trading. FXTM also has negative balance protection, supports multiple platforms for trading, less leverage on the Micro Account. All of these features make FXTM good for beginners.

Editorial Team Updated on March 16, Minimum Deposit. Visit FXTM Kenya. Is FXTM Safe for Traders? FXTM Leverage. FXTM Account Types. FXTM Overall Fees. FXTM Trading Instruments. FXTM Trading Platforms. FXTM Kenya Customer Service. FXTM Bonus. Is FXTM a Legit broker for Kenyan traders? Note: We may earn a commission if you decide to sign up with the broker via the referral links in this review. Thanks for your support. Country-specific recommendations.

Trading Platform. Broker reviews. Online broker reviews crafted by our team of experts. Fees, minimum deposit requirements, withdrawal, account opening, research tools and more. We use over 50, data points and a consistent, fact-based methodology. ALL REVIEWS. Highest-rated brokers. Other popular brokers.

Other reviews. For beginners. For advanced users. Topics we cover. The secret sauce. FXTM Review Bence András R. Summary Fees Account opening Deposit and withdrawal Trading platform Markets and products Research Customer service Education Safety Bottom line. FXTM review summary Disclaimer: from March , FXTM ends retail operations in the EEA, under CySEC regulation.

FXTM is considered safe because it is regulated by the top-tier FCA. Recommended for forex traders familiar with the MetaTrader platform. See Best Alternative. FXTM pros and cons FXTM customer service gives fast and relevant answers. Compare to other brokers. Our overall FXTM rating.

Account opening. Deposit and withdrawal. Trading platform. Markets and products. Customer service. Top 5 Brokers. Get your personalized toplist:.

Find my broker. FXTM review Fees. FXTM's trading fees are low for forex, but average for CFDs. There is also a withdrawal fee. Europe 50 CFD Low The fees are built into the spread, 3 points is the average spread cost during peak trading hours. EURUSD Average MT4 Advantage account: there is a commission which is based on your account balance and monthly trading volume. There is also a spread cost, 0. Trading fees occur when you trade. These can be commissions , spreads , financing rates and conversion fees.

Non-trading fees include charges not directly related to trading, like withdrawal fees or inactivity fees. To have a clear overview of FXTM, let's start with the trading fees.

FXTM trading fees FXTM trading fees are average. We have chosen popular instruments within each asset class: Stock index CFDs: SPX and EUSTX50 Stock CFDs: Apple, Vodafone Forex: EURUSD, GBPUSD, AUDUSD, EURCHF and EURGBP A typical trade means buying a leveraged position, holding it for one week and then selling. The leverage we used is: for stock index CFDs for stock CFDs for forex These catch-all benchmark fees include spreads, commissions and financing costs for all brokers.

CFD fees FXTM has average CFD fees. The forex fees are different based on the account type you choose: Standard accounts: spreads are higher, but there is no commission. ECN accounts : it charges a commission, but the spreads are lower.

Non-trading fees FXTM has high non-trading fees. FXTM non-trading fees FXTM FP Markets Markets. FXTM review Account opening. FXTM account opening is fully digital, easy and fast. Your account will be ready within business days.

There are also a lot of account types you can choose from. Where do you live? Lucia St. Virgin Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Venezuela Vietnam Wallis and Futuna West Bank Western Sahara Yemen Zambia Zimbabwe. Our best alternatives to FXTM are: The highest ranking competitors are: FP Markets full review Markets. com full review XM full review XTB full review.

Lost finding a broker? First name. Email address. Sign me up. FXTM review Deposit and withdrawal. FXTM offers a great variety of deposit and withdrawal options. Almost everything is available, including credit cards, bank transfer and electronic wallets.

The main disadvantage is that FXTM charges a fee for most withdrawal types. Base currencies at FXTM vs similar brokers FXTM FP Markets Markets. com Number of base currencies 4 10 11 This selection falls behind competing brokers. Compare digital banks Deposit fees and options FXTM charges no deposit fees. FXTM deposit options FXTM FP Markets Markets. Is this deposit method available? EU countries UK Non-EU clients Neteller, Skrill Yes Yes Yes Bitcoin Yes through Skrill No Yes Crypto BTC only No No Yes Yandex.

You can only deposit money from accounts that are in your name. FXTM review Web trading platform. The web trading platform of FXTM is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and the design is outdated. MetaTrader 4 is available in an exceptionally large number of languages.

FXTM web trading platform languages Arabic Bulgarian Chinese Croatian Czech Danish Dutch English Estonian Finnish French German Greek Hebrew Hindi Hungarian Indonesian Italian Japanese Korean Latvian Lithuanian Malay Mongolian Persian Polish Portuguese Romanian Russian Serbian Slovak Slovenian Spanish Swedish Tajik Thai Traditional Chinese Turkish Ukrainian Uzbek Vietnamese Look and feel The FXTM web trading platform has great customizability. FXTM review Mobile trading platform.

FXTM has a great mobile trading platform, offered by MetaTrader 4. It is well-designed and user-friendly. However, it lacks a safe login. MetaTrader 4 is available for both iOS and Android. We tested it on Android. FXTM mobile trading platform languages Arabic Chinese Simplified Chinese Traditional Czech English French German Greem Hindi Indonesian Italian Japanese Korean Polish Portuguese Portuguese Brazil Russian Spanish Thai Turkish Ukrainian Vietnamese Look and feel FXTM has a great mobile trading platform , we really liked its design and user-friendliness.

FXTM review Desktop trading platform. In design and functionality, FXTM's MetaTrader 4 desktop platform is almost the same as the web trading platform. One major difference is that you can set price alerts on the desktop trading platform. FXTM review Markets and products. FXTM's product selection covers forex and CFDs. Non-EU clients can also trade with real stocks.

On the negative side, it lacks ETFs, mutual funds, bonds, options, and futures. FXTM product selection FXTM FP Markets Markets. com Currency pairs 62 61 67 Stock index CFDs 11 14 40 Stock CFDs 9, 2, ETF CFDs - - 66 Commodity CFDs 3 6 28 Bond CFDs - - 4 Cryptos 4 5 25 FCA banned the sale of crypto-derivatives to UK retail consumers from 6 January You can change leverage levels at FXTM, which is great. Real stocks FXTM offers commission-free real stocks for non-EU clients. FXTM stock and ETF selection FXTM FP Markets Markets.

com Stock markets 3 1 18 The available stock markets are NYSE, NASDAQ and the Hong Kong Stock Exchange. Social trading All clients except UK and EU clients, can use FXTM Invest, a social trading service. FXTM review Research. From news flow to technical analysis-based trading ideas, FXTM offers a lot of research tools. On the negative side, fundamental data is not available. FXTM review Customer service. FXTM has great customer support. You can contact them in a lot of ways and they give fast and relevant answers.

However, customer service is available only on weekdays. Via email, we got answers within a few hours and they were also relevant. FXTM review Education. Having a demo account is always a great way to learn. Beyond that, FXTM offers several ways to educate yourself, all packed with quality materials. FXTM review Safety. FXTM is regulated by several financial authorities, including the top-tier FCA. It is a well-established brand but is not listed on any exchange, does not disclose financial information and does not have a bank parent.

How you are protected Protection matters for you because the investor protection amount and the regulator differ from entity to entity. Background FXTM was established in FXTM review Bottom line. FXTM review FAQ.

Whether a financial provider like FXTM is reliable and legit is an important and very legitimate question one can have. After all you trust FXTM with your investment money and savings.

It is also a very common question, we get this asked a number of times. One thing worth bearing in mind: all the brokers that you find on BrokerChooser are regulated by at least one reliable authority. So in this basic sense FXTM is of course legit.

Additionally, there are other factors you can take into account when you check the reliability of FXTM, e. if FXTM is listed on any exchange, provide two-step login, disclose transparently its financial result, etc. Here, we've collected and summarized the common questions on broker reliability, enabling you to decide for yourself whether you consider FXTM reliable in your individual circumstances. We also compared FXTM with two similar brokers. You should consider whether you can afford to take the high risk of losing your money.

We think the most important feature is to be regulated by at least one trustworthy authority. With a CFD and forex broker, it's also a cardinal info whether the broker provides negative balance protection or not. First and foremost, to gather a wider knowledge about one broker's reliability, you should check the regulators of it.

For this purpose, we sum up below the most important things to know about regulators and how to interpret them for your individual case. FXTM is regulated in the following countries and provides the following investor protection:. COMPARE BROKERS. The investor protection amount and the regulator might differ based on which entity you belong to. Don't forget that regulators are not created equal.

Investor protection can also vary from authority to authority. There are reliable regulators whose excellence lies within their features such as the presence of segregated accounts, the range of protection tools or the investor protection amount itself. Check out a few of the reliable regulators in the table below. Most brokers reviewed by BC fall below one of the following four regulators:.

FXTM is regulated by the top-tier UK regulator, the FCA or Financial Conduct Authority. FCA monitors which firms and individuals are able to enter the financial markets and supervises how firms work and stop those that don't meet their standards. If a broker goes bankrupt, eligible customers would also be protected by the FSCS up to £85, per claimant per firm. For forex and CFD brokers you're also covered by negative account balance protection. A non-UK citizen is treated the same way as a UK resident in case something goes south.

As you could see above, FXTM is supervised by the CySEC or Cyprus Securities and Exchange Commission. CySEC monitors the Cyprus Stock Exchange, registered brokers and companies, and the transactions taking place on the Stock Exchange.

CySEC also monitors licensed collective investment funds, registered investment service companies, companies that operate mutual funds and investment consultants. They also introduced a negative balance protection. At FXTM a non-Cypriot citizen is treated the same way as a Cypriot resident in case something goes wrong. There are some brokers that provide additional insurance because they have private insurance e. It's worth checking it out when you're choosing your broker.

FIND MY BROKER. Ticking them definitely adds to the reliability and legitimacy of an online broker, but not having them is not necessarily a big red flag. FXTM doesn't have a banking background, which is not crucial, but would make a better case for their reliability. The reason is that even if it's not required by law that a struggling broker must be saved by its parent bank, in most cases you can count on this happening.

FXTM is not listed on any stock exchange, hence it's harder to get detailed or any kind of direct information about its financial performance. FXTM doesn't publish annual financial statements. These are sort of financial reports, which generally contain information about a brokerage's income, profit and loss, retained earnings and cash flows.

Not having these exposed to the public doesn't necessarily mean that a broker is not reliable or legit, it's just a factor that we should take into account when choosing where to invest or trade. FXTM doesn't provide two-step authentication when logging in, which is not so pleasing, since it might be easier for hackers to compromise clients' accounts. Ownership structure of FXTM is not public, it can't be checked on their website, which leaves some questions open about one's feeling of being up-to-date about the broker.

FXTM is transparent about their management structure, which means that anyone can see who is in charge of management issues at the brokerage.

FXTM is not audited by one of the so-called Big Four auditors KPMG, PWC, Deloitte, EY , which is not necessarily an issue, however it would guarantee another layer of reliability. Take your time and compare at your own pace.

Sign up to receive bite-sized emails on specific account opening processes, fee calculation, brokerage comparison and more. Now that we have gone through the most frequent and - as we think - most important reliability aspects of FXTM, we hope that you feel armed enough with information for your future decision.

In case you're still unsure, use our broker finder and meet the best online broker that suits your needs. Everything you find on BrokerChooser is based on reliable data and unbiased information. Read more about our methodology. Toggle navigation Menu Close.

Compare brokers. Compare Broker tool. Compare selected brokers by their fees, minimum deposit, withdrawal, account opening and other areas. Filter according to broker or product type, including stocks, futures, CFDs or crypto. Compare highest-rated brokers. Compare other popular brokers. Compare Digital Banks tool. Best brokers. Not sure which broker to choose?

For a tailored recommendation, check out our broker finder tool. Answer a few simple questions and get a list of the most relevant brokers. Best brokers by category. Country-specific recommendations. Trading Platform. Broker reviews. Online broker reviews crafted by our team of experts. Fees, minimum deposit requirements, withdrawal, account opening, research tools and more. We use over 50, data points and a consistent, fact-based methodology. ALL REVIEWS. Highest-rated brokers. Other popular brokers.

Other reviews. For beginners. For advanced users. Topics we cover. The secret sauce. Is FXTM legit? And who are they? Bence András R. FXTM reliability Things always worth considering Additional "nice to have" safety features Bottom line. Top 5 Brokers. Get your personalized toplist:. Find my broker. FXTM FP Markets Markets. FXTM reliability Things always worth considering. When you assess a stock broker it's best to think through the following aspects: What authority or authorities regulate the broker?

In other words who can you turn to if something goes south? Does it offer negative balance protection? How much protection do you have?

For how long FXTM has been in operation? Is it publicly traded itself? How transparent is it? How much do they protect your account from unauthorized access?

What auditor audits the brokerage? As you see there are a number of aspects above. But not all of them were created equal.

The FXTM UK entity is regulated by the Financial Conduct Authority. For example, it took some time until we found how to add an asset to the watchlist. Not having these exposed to the public doesn't necessarily mean that a broker is not reliable or legit, it's just a factor that we should take into account when choosing where to invest or trade. Yes, it is regulated by the Financial Conduct Authority FCA , Cyprus Securities and Exchange Commission CySEC , and the Financial Services Commission of the Republic of Mauritius FSC. The leverage we used is:. Pros Cons Customer friendly design No proprietary platform The Comprehensive range of tools Automated trading capabilities Clear look and fee report Industry leading software that does not require familiarization Tons of education material and automated strategies available.

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