Broker Review
FXTM (ForexTime) Review 2026 — Is FXTM (ForexTime) Legit?
Score Summary
out of 10
FXTM (ForexTime) is a forex and CFD broker with CySEC regulation for European clients and offshore operations for other regions. While it offers competitive spreads and educational resources, the dual-entity structure where many clients are served through less-regulated offshore entities warrants caution.
Overview
FXTM (ForexTime) was founded in 2011 by Andrey Dashin and has grown into a multi-asset CFD broker serving clients in over 150 countries. The broker offers forex, stock CFDs, index CFDs, commodity CFDs, and cryptocurrency CFDs through MetaTrader 4 and MetaTrader 5 platforms. FXTM has invested heavily in educational content and local-language support, making it popular in Africa, Southeast Asia, and the Middle East.
The broker operates through multiple entities: a CySEC-regulated entity for European clients and offshore entities registered in Mauritius and other jurisdictions for international clients. This dual-entity structure is common among brokers but creates significant differences in client protection.
Warning
FXTM's international clients are primarily served through entities registered in Mauritius (FSC) or other offshore jurisdictions. These entities offer leverage up to 1:2000 and minimal regulatory protection. European clients served through the CySEC entity benefit from MiFID II protections, negative balance protection, and ICF compensation up to EUR 20,000.
Regulatory Status
- CySEC (Cyprus) — Forextime Ltd (License 185/12) for EEA clients
- FCA (United Kingdom) — Forextime UK Limited (FRN 777911, currently with restrictions)
- FSC (Mauritius) — Exinity Limited for international clients
- FSCA (South Africa) — Licensed for South African operations
- CMA (Kenya) — Licensed for East African operations
Fee Structure
| Fee Type | Amount |
|---|---|
| EUR/USD Spread (Standard) | From 1.3 pips |
| EUR/USD Spread (ECN Zero) | From 0.0 pips + $4/lot commission |
| Stock CFD Commission | From 0.1% |
| Index CFD Spread | From 0.5 points |
| Deposit | Free (most methods) |
| Withdrawal | Free (most methods) |
| Inactivity Fee | $5/month after 6 months |
Platform & Tools
- MetaTrader 4 — Standard forex trading platform
- MetaTrader 5 — Multi-asset platform with additional instruments
- FXTM Trading Signals — Provided through third-party services
- Copy Trading — Available through FXTM Invest
- Mobile App — MT4/MT5 mobile apps plus FXTM Trader app
- Educational Resources — Extensive library of webinars, tutorials, and seminars, particularly for beginner traders
Customer Support
- 24/5 live chat and phone support during market hours
- Support in 20+ languages
- Local offices in multiple countries
- Email support
- In-person seminars and events in key markets (Africa, Asia)
Trustworthiness
FXTM's trust profile is mixed:
- CySEC-regulated entity provides solid protection for European clients
- Offshore entities offer minimal protection
- Extremely high leverage (up to 1:2000) offered through offshore entities is concerning
- No major insolvency events
- FCA entity has had restrictions applied
- Founder Andrey Dashin has been involved in other financial ventures with mixed reputations
- Educational focus is positive but sometimes serves as a marketing funnel
Conclusion
FXTM earns a Use With Caution verdict with a score of 6.0. European clients served through the CySEC entity can access a reasonably regulated broker with competitive spreads. However, international clients served through offshore entities face significantly reduced protection and are exposed to dangerously high leverage. The educational resources are a positive differentiator, but the overall regulatory picture prevents a full recommendation. Users should verify their entity and limit their exposure.
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