FXTM review: licences, accounts and payments

Overview

FXTM (ForexTime) is a forex and CFD brand of the Exinity group. Its global site, fxtm.com (forextime.com redirects there), is run by Exinity Limited, a company registered in Mauritius. FXTM also has Kenyan and Nigerian versions of its site, but they redirected us to the global version, so this review describes the global site. The licensing page says the brand has been “trusted since 2011”; we found no founding year of the company. All facts in this review were checked on 28 October 2026.

Licences and who they cover

• Exinity Limited (Mauritius): Investment Dealer licence C113012295 from the Financial Services Commission of Mauritius. It runs fxtm.com, where leverage goes up to 1:5000 (floating) on the Rewards Plus and Rewards accounts.
• Exinity Limited is also licensed by South Africa’s Financial Sector Conduct Authority as FSP 50320. The FSCA register lists it as authorised, with the trading name “Alpari International and FXTM Global”.
• Exinity Capital East Africa Ltd (Nairobi): licence 135 from Kenya’s Capital Markets Authority as a non-dealing online foreign exchange broker; the CMA register lists it.
• Exinity Global Financial Services L.L.C. (Dubai): UAE Capital Market Authority licence 20200000270, Category 5, for promotion and introduction only.

We could not open the FSC Mauritius register, so that number comes from FXTM’s own pages. The site does not say which countries each company serves, and it shows a general risk warning without a percentage of retail accounts that lose money.

Exinity Limited does not serve residents of the USA, Mauritius, Japan, Canada, Haiti, Iran, Suriname, North Korea, Puerto Rico, the occupied area of Cyprus, Iraq, Syria, Cuba, Belarus, Myanmar, Russia, India and the United Kingdom. Apart from Mauritius, no African country is on this list.

Accounts and costs

• Micro: a cent account from 30 USD, spreads from 1.7 pips, no commission, MT4 only, leverage up to 1:1000.
• Rewards Plus: from 100 USD (137,000 NGN), spreads from 1.5 pips, no commission, MT4 and MT5, up to 3X Reward Points.
• Rewards: from 200 USD (274,000 NGN), spreads from 0.9 pips, no commission, MT4 and MT5.
• Advantage: from 500 USD (685,000 NGN), spreads from 0 pips and a forex commission of $3.5 per lot ($7 round turn), MT4 and MT5, leverage up to 1:3000.
• Advantage Stocks: from 200 USD, US shares as cash equities on MT5, no commission, leverage 1:1.

Rewards Plus, Rewards and Advantage can be held in USD, EUR or GBP, and in NGN for clients in Nigeria only. The margin call is at 50% and the stop-out at 20%, except on Advantage (80% and 50%).

A swap-free option exists on Rewards Plus, Rewards and Advantage: you choose it when you create your FXTM profile, and it applies to all your accounts. FXTM also has its own app, with MetaTrader powering the trades behind the scenes.

The payments FAQ gives a $100 minimum initial deposit, which conflicts with the 30 USD shown for Micro. A welcome bonus of up to $500 is advertised.

Deposits and withdrawals

FXTM lists cards, crypto, e-wallets, bank wire and local payment solutions, but shows the methods for your country only after you register or log in. We found no mobile money method, such as M-Pesa or MTN MoMo, named on its public pages. The help centre gives these withdrawal terms:

• Credit and debit cards: $3 (or €3 / £3), 3–5 business days.
• Bank wire: $30, 1 business day.
• Skrill and Neteller: free, instant.
• Local methods: timing depends on the country.

The accounts page, however, says FXTM charges no deposit or withdrawal fees, so confirm the fees above. A 3% fee applies if no trade has been placed since your last deposit, and an inactivity fee of 10 USD, EUR or GBP a month starts after 3 months without trading.

Before you open an account

• If you live in Kenya or Nigeria, check which Exinity company opens your account and what its local site offers.
• Ask which local and mobile money methods work in your country before you deposit.
• Place at least one trade before you withdraw, to avoid the 3% fee.
• Confirm the current withdrawal fees, since FXTM’s pages disagree.

We have not tested this company with our own account yet; this review will be updated when we do.