FXTM (ForexTime) — review & details

In Forex & CFD brokers · By the Rateweb editorial team · How we rate · Details checked 1 Aug 2026

Long-established broker with a large Nigerian following, trading under Exinity Limited, regulated by the Financial Services Commission of Mauritius (Investment Dealer licence C113012295) with a group FSCA South Africa licence (FSP 50320). Known for its Micro account and beginner education rather than the tightest pricing.

Strong for beginners

FXTM (ForexTime)

Long-established broker with a large Nigerian following, trading under Exinity Limited, regulated by the Financial Services Commission of Mauritius (Investment Dealer licence C113012295) with a group FSCA South Africa licence (FSP 50320). Known for its Micro account and beginner education rather than the tightest pricing.
★★★★☆
4.0/5 · How we rate
Exinity Limited — FSC Mauritius (licence C113012295); group also holds FSCA South Africa FSP 50320. Not regulated by Nigeria's SEC.
Regulator (Ng Clients)
Not confirmed on the main site during this review — check FXTM's current terms
Max Leverage
MetaTrader 4, MetaTrader 5, FXTM App
Platforms
NGN accounts have been marketed to Nigerian clients, but we could not verify this on the main site during this review — confirm at sign-up
Naira Support
New traders starting small on a Micro account with structured education
Best For
Pros
  • Micro account lets beginners trade very small sizes while learning
  • Substantial education library and localised support for African markets
  • Group holds an FSCA (South Africa) licence alongside the Mauritius licence, a step above pure island regulation
Cons
  • Most retail CFD traders lose money, and leverage magnifies losses as fast as gains
  • Nigerian clients contract with the Mauritius entity — FSC Mauritius offers far weaker recourse than an FCA or CySEC licence, and FXTM's UK entity does not cover you
  • Standard-account spreads are wider than raw-spread rivals; the cheapest pricing sits behind the commission-based Advantage account
Fees, eligibility & documents
Fees
SpreadsVary by account type — Micro is spread-only, Advantage accounts pair tighter spreads with commission; check current typical spreads on FXTM's site
Non-trading feesInactivity and some withdrawal fees may apply — check the current fee schedule
Eligibility
  • 18 years or older
  • Pass FXTM's identity (KYC) verification
  • Complete the appropriateness assessment for leveraged products
Documents needed
  • Valid government ID (international passport, driver's licence or national ID)
  • Proof of address (recent utility bill or bank statement)
Visit FXTM

How FXTM (ForexTime) compares in forex & cfd brokers

FXTM (ForexTime) scores 4.0/5 in our forex & cfd brokers rankings. Our current top pick is Pepperstone (4.3/5). Always compare a few before you decide — see the full forex & cfd brokers comparison.

FXTM (ForexTime)
4.0/5 · this page
 Pepperstone
4.3/5
 XM
4.1/5
Regulator (Ng Clients) Exinity Limited — FSC Mauritius (licence C113012295); group also holds FSCA South Africa FSP 50320. Not regulated by Nigeria's SEC. — —
Max Leverage Not confirmed on the main site during this review — check FXTM's current terms 1:400 1:1000
Platforms MetaTrader 4, MetaTrader 5, FXTM App MT4, MT5, cTrader, TradingView MT4, MT5
Naira Support NGN accounts have been marketed to Nigerian clients, but we could not verify this on the main site during this review — confirm at sign-up — —
Best For New traders starting small on a Micro account with structured education — —
Visit FXTM → Visit Pepperstone → Visit XM →

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Details last checked: July 2026

Ratings are Rateweb's editorial opinion. Product details are checked periodically but can change — confirm current terms with the provider before acting. We may earn a commission from some links, at no cost to you.