FXTM

FXTM is an international forex broker that has been operating since 2011, and Teagle's data lists its country as Mauritius. FXTM holds several reputable licenses and states that it offers access to more than 1,000 assets, but the most important point for Iranian readers is that, according to its own official documents, it does not serve residents of Iran. In this overview, we review the full picture of FXTM based on Teagle's data.

What kind of broker is FXTM?

With about 15 years of history, FXTM is a well-known forex broker offering currency pairs, stocks, indices, metals, commodities and cryptocurrencies for trading. Cent accounts, ECN accounts, Islamic accounts, scalping and hedging, Expert Advisors and news trading are all listed in Teagle's tags for this broker. According to official documents, client funds are held in banks separately from the company's capital, and negative balance protection is another of its advantages.

FXTM licenses and credibility

FXTM is in good shape in terms of regulation. Teagle's license list includes the following:

• UK FCA (No. 777911), active;
• South Africa FSCA (No. 50320), active;
• Kenya CMA (No. 135), active;
• Mauritius FSC (No. C113012295), active; an offshore license with a lower level of oversight;
• Capital Market Authority (No. 20200000270), for which no status is recorded.

Teagle's risk index is also based on four active licenses (FCA, CMA, FSCA and FSC). However, holding an FCA license does not mean every client falls under that license; the level of protection depends on the entity that opens your account. To understand this difference, read the guide to broker regulation and how it is graded .

Does FXTM serve Iranians?

No. According to the Teagle team's review of the website, official documents and the client agreement, FXTM does not serve residents of several countries, including Iran. This means Iranians cannot verify their identity or operate legally with this broker, and trying to register with an Iranian identity risks having the application rejected or the account blocked. The broker's website does not support Persian, and accessing it from Iran requires changing your IP. For the risks of working with brokers that restrict Iran, see the article Brokers banned for Iranians and how to choose a safe broker .

FXTM trading accounts

In Teagle's table, FXTM has four accounts with floating spreads, and requotes are not recorded for any of them:

• Advantage account: minimum deposit $500, spreads from zero, $3.5 commission and leverage up to 1:3000, on MT4 and MT5 with an Islamic version.
• Advantage Plus account: minimum deposit $200, no commission and spreads from 1.5 pips, leverage up to 1:3000, 80% margin call and 50% stop-out.
• Advantage Stocks account: for trading stocks with 1:1 leverage, spreads from 2 cents and a minimum deposit of $200; no Islamic version.
• Micro account: minimum deposit $30, spreads from 1.5 pips, leverage up to 1:1000, 50% margin call and 20% stop-out, MT4 only.

1:3000 leverage multiplies both profits and losses; before using it, read the guide to leverage and leveraged trading . To choose between the commission-based Advantage account and the commission-free Advantage Plus, the comparison of ECN accounts with other account types will help.

FXTM platforms and services

Trading at FXTM is done on MetaTrader 4, MetaTrader 5 (Windows and Mac versions) and the proprietary FXTM App. Additional services include education, Expert Advisors and trading robots, a virtual private server (VPS), an economic calendar, a forex calculator, cashback and bonuses; you can see brokers' active bonuses on the bonuses page .

Deposits and withdrawals at FXTM

Payment methods include crypto, credit cards, bank wire, e-wallets (Neteller and Skrill) and local payment methods, and Teagle's table lists a minimum deposit of $200 for all of them. Deposits by card, e-wallet and wire are free, and with crypto only the network fee is paid. Card withdrawals carry a $3 (or €3 or £3) fee and take 3 to 5 business days; bank wire withdrawals are free and processed within 1 business day, while crypto and e-wallet withdrawals are instant. No withdrawal limit is recorded.

FXTM's score and risk on Teagle

FXTM's final score on Teagle is 2.74 out of 5, derived from four sources: Teagle expert 3.2, WikiFX 3.06, Trustpilot 2.5 and Forex Peace Army 2.21; Teagle user ratings have not yet been recorded. The Teagle Eye risk index for this broker is 25 out of 100, in the "low to medium risk" category, reflecting its active licenses and 15-year track record. See its position in the low-risk broker rankings ; but remember that this index does not mean Iranians can use the broker.

FXTM pros and cons

• Pro: active licenses from the FCA, FSCA and Kenya's CMA
• Pro: a variety of accounts, from Micro to Advantage, and a wide range of symbols
• Pro: negative balance protection and segregated client funds
• Con: no services for residents of Iran
• Con: relatively high minimum initial deposit on most accounts
• Con: no Persian support and no Rial payment method

Who is FXTM suitable for?

In the view of Teagle's expert, FXTM suits professional traders outside Iran who are looking for high leverage and fast execution. Despite its extensive features, it is not suitable for residents of Iran or those who want Rial deposits and withdrawals. If you live in Iran, choose a broker that openly serves Iranians; you can also weigh FXTM against an international competitor in the FXTM vs XM comparison .

Conclusion

In terms of licensing and brokerage features, FXTM is reputable and comprehensive, but it has closed its doors to residents of Iran, and any account opened with an Iranian identity is at risk of being blocked. If you live outside Iran, start with a small amount and make a test withdrawal; and in any case, follow the latest warnings on the investment risk warning page .