Overall, FXTM offers regulated forex and CFD trading with strong local relevance for Nigerian traders. Account options include NGN deposits, low spreads on major pairs, and commission-free alternatives. Support is responsive, and the education section is more than surface-level.
 | Minimum Deposit: $200 Regulated by: FCA, CMA, FSC, SCA Leverage: Up to 1:.3000 |
What Is FXTM Nigeria? Company Details at a Glance
| Category | Details |
| 🏦 Nigeria Office Address | None; offices are in South Africa, Mauritius, UAE, Kenya, and the UK |
| 📧 Email Support | [email protected] |
| 📞 Phone Support (Nigeria) | None; numbers listed for other regional offices |
| 💬 Live Chat | Available via website and MyFXTM |
| ⏱️ Customer Support Hours | 24/7 from Monday to Friday, 11:00 – 16:00 on Saturdays, and 12:00 – 20:00 on Sundays (GMT+2/GMT+3) |
| ⏳ Office Operating Hours | Monday to Friday, 8:00am – 5:30pm |
| 🌐 Official Website | www.fxtm.com |
| 🚀 Sign up | 👉 Open Account |
5 Best Forex Brokers in Nigeria
Rank | Broker | Review | Regulators | Min Deposit | Official Site |
🥇 | | Read Review | FSCA, FCA, FSA, CMA, St. Vincent & the Grenadine | $0 | Visit Broker |
🥈 | | Read Review | CBI, BVI, FSC, ASIC, FSCA, JFSA, FFAJ | $100 | Visit Broker |
🥉 | | Read Review | Globally regulated with multiple licences from respected financial regulators. | $10 | Visit Broker |
#4 | | Read Review | FSCA, FSC, ASIC, FSA | $30 | Visit Broker |
#5 | | Read Review | FSA, CySEC, FSCA, FSC | $10 | Visit Broker |
Is FXTM Regulated in Nigeria? Licensing and Fund Security
FXTM is part of Exinity Group, a multi-jurisdictional financial services provider with several international licences.
| 🌎 Regulatory Body | 🇨🇴 Country | 🔢 License Number | ⏺️ Status / Description |
| Financial Services Commission (FSC) | Mauritius | C113012295 | Regulates Exinity Limited, which oversees Nigerian clients |
| Financial Sector Conduct Authority (FSCA) | South Africa | 50320 | Exinity Limited is also authorised as an OTC Derivatives Provider |
| Financial Conduct Authority (FCA) | United Kingdom | 777911 | Regulates Exinity UK Limited |
| Securities and Commodities Authority (SCA) | United Arab Emirates | 20200000270 | Regulates Exinity Global for promotional and introduction services only |
| Capital Markets Authority (CMA) | Kenya | 135 | Not applicable to Nigerians |
How does FXTM protect Nigerian traders from high volatility?
FXTM uses margin call and stop-out levels, negative balance protection, and real-time risk monitoring to protect client accounts.
Can Nigerians access FXTM customer support via WhatsApp?
Yes. FXTM provides WhatsApp chat support in addition to phone, email, and live chat.
FXTM Nigeria Account Types – Which One Is Right for You?
The right FXTM Account will depend on your trading strategy, experience level, and overall goals.
You can open either an Advantage, Advantage Plus, or Advantage Stocks account with FXTM Nigeria. Each supports MetaTrader, market execution, and funding in Naira. Advantage offers tighter spreads with volume-based commissions.
Advantage Plus removes commissions entirely, while Advantage Stocks focuses on US share trading.
| 💻 Live Account | 💳 Minimum Dep. | 👉 Open an account | 📊 Leverage | 💸 Commissions |
| Advantage | ₦80,000 | 👉 Open Account | Up to 1:3000 | $0.40–$2 based on volume |
| Advantage Plus | ₦80,000 | 👉 Open Account | Up to 1:3000 | None |
| Advantage Stocks | ₦80,000 | 👉 Open Account | Up to 1:3000 | $0.40–$2 based on volume |
Advantage Account
| Account Feature | Value |
| 💻 Trading Platforms | MetaTrader 4 and MetaTrader 5 |
| 📉 Spread Pips | From 0.0 |
| 💰 Minimum Deposit | ₦80,000 |
| 📈 Maximum Leverage | Up to 1:3000 (floating) |
| 💹 Trading Instruments | Forex, spot metals, indices, commodities, cryptocurrencies, share CFDs |
| 🏆 Best For | Traders looking for tight spreads and market execution |
| ✅ Advantages | Naira funding, zero spreads on major pairs, volume-based commissions, swap-free option |
| 🚀Sign up | 👉 Open Account |
Advantage Plus Account
| Account Feature | Value |
| 💻 Trading Platforms | MT4 and MT5 |
| 📉 Spread Pips | From 1.5 |
| 💰 Minimum Deposit | ₦80,000 |
| 📈 Maximum Leverage | Up to 1:3000 (floating) |
| 💹 Trading Instruments | Forex, metals, indices, commodities, cryptocurrencies, share CFDs |
| 🏆 Best For | Traders who want no commission, even with wider spreads |
| ✅ Advantages | Commission-free trading, swap-free option, supports MetaTrader 4 and 5 |
| 🚀Sign up | 👉 Open Account |
Advantage Stocks Account
| Account Feature | Value |
| 💻 Trading Platforms | MT5 only |
| 📉 Spread Pips | From $0.06 per share |
| 💰 Minimum Deposit | ₦80,000 |
| 📈 Maximum Leverage | Up to 1:3000 (floating) |
| 💹 Trading Instruments | US stocks, Forex, metals, commodities, indices, crypto |
| 🏆 Best For | Traders focused on US stocks with zero commission |
| ✅ Advantages | Market execution, naira deposit option |
| 🚀Sign up | 👉 Open Account |
Demo Account
| Account Feature | Value |
| 💻 Trading Platforms | MT4 and MT5 |
| 🛠️ Features | Real market conditions, virtual funds, access to full toolset |
| 🏆 Best For | Beginners and anyone wanting to practise strategies without financial risk |
| 🚀Sign up | 👉 Open Account |
Islamic Account
| Account Feature | Value |
| 💻 Trading Platforms | MT4 and MT5 |
| 📉 Spread Pips | From 0.0 (Advantage), from 1.5 (Advantage Plus) |
| 💰 Minimum Deposit | ₦80,000 |
| 📈 Maximum Leverage | Up to 1:3000 (floating) |
| 💹 Markets Offered | Forex, metals, indices, commodities, cryptocurrencies, stocks |
| 🏆 Best For | Traders avoiding overnight charges for religious or financial reasons |
| ✅ Advantages | No swaps, same conditions as standard accounts, available on request |
| 🚀Sign up | 👉 Open Account |
Can I open an FXTM account in Nigeria using only my BVN?
No. BVN alone is not enough — you’ll need a valid government-issued photo ID and proof of address for verification.
| Minimum Deposit: $200 Regulated by: FCA, CMA, FSC, SCA Leverage: Up to 1:.3000 |
How to Open an FXTM Account in Nigeria – Full Guide
To register with FXTM in Nigeria, you’ll complete a digital onboarding process that asks for personal and financial details, followed by identity verification. You can open either a live trading account or start with a demo while getting familiar with the platform.
Step 1: Start Registration and Verify Your Email
- Go to FXTM’s website, click “Open Account”, and make sure Nigeria is selected as your country.
- Enter your email, create a password, then check your inbox for a verification code and enter it to continue.
Step 2: Set Security Code and Provide Personal Details
- Create a unique five-digit code for account security and withdrawals.
- Enter your full name, mobile number, and date of birth.
Step 3: Add Your Address Information
- Provide your full residential address, including postal code, town/city, and state.
Step 4: Fill in Background and Financial Details
- Answer personal background questions, including gender, nationality, and trading experience.
- Complete the source of funds section with your job title, industry, income source, tax country, and Tax Identification Number (TIN).
Step 5: Upload ID and Address Verification Documents
- Submit a valid photo ID (e.g., National ID, passport, or driver’s licence).
- Upload proof of address (e.g., utility bill or bank statement) and confirm if it matches your ID address.
Step 6: Choose Account Type, Platform, and Preferences
- Select either an Advantage or Advantage Plus
- Choose your trading platform (MT4 or MT5), base currency, and preferred leverage level.
Step 7: Complete Setup and Fund Your Account
- Submit your application to activate your account.
- Once approved, you can deposit funds and start trading immediately.
Can Nigerian traders switch account types after opening?
Yes. You can request an account type change through the client portal or customer support.
| Minimum Deposit: $200 Regulated by: FCA, CMA, FSC, SCA Leverage: Up to 1:.3000 |
FXTM, Markets.com, or FBS – Best Choice in Nigeria?
| FXTM | Markets.com | FBS | |
| ⚖️ Regulation | FCA UK, FSCA South Africa, FSC Mauritius, SCA UAE, CMA Kenya | FCA UK, CySEC Cyprus, ASIC Australia, FSCA South Africa, BVI FSC | IFSC Belize, CySEC Cyprus, ASIC Australia, FSCA South Africa |
| 📱 Trading Platform | MetaTrader 4, MetaTrader 5, FXTM Trader App | MetaTrader 4, MetaTrader 5, Markets.com, TradingView | MetaTrader 4, MetaTrader 5, FBS Trader |
| 💰 Withdrawal Fee | None | None | Yes |
| 📊 Demo Account | Yes, unlimited | Yes, expires in 30 days | Yes, unlimited |
| 📈 Minimum Deposit | ₦80,000 | $100 | $5 |
| 📈 Leverage | Up to 1:3000 | Up to 1:500 | Up to 1:3000 |
| 📊 Spread | From 0.0 pips on Advantage account | From 0.7 pips on major pairs | From 0.7 pips on major pairs |
| 💰 Commissions | $0.40–$2 based on volume | No commissions, spread only | No commission on Forex |
| ✴️ Margin Call/Stop-Out | 80% / 50% | 100% / 50% | 40% / 20% |
| ✴️ Order Execution | From 0.1 seconds | Instant execution | From 0.01 seconds |
| 💳 No-Deposit Bonus | No | No | No |
| 📊 Cent Accounts | Yes | No | Yes |
| 📈 Account Types | Advantage, Advantage Plus, Advantage Stocks, Demo, Islamic | Classic | Standard, Demo, Islamic |
| ⚖️ SEC Regulation | No | No | No |
| 💳 NGN Deposits | Yes, local bank transfers supported | No | Yes, local methods available |
| 📊 Nigerian Naira Account | Yes, NGN as base currency option | No | No |
| 👥 Customer Service Hours | 24/5 | 24/5 | 24/7 |
| 📊 Retail Investor Accounts | Yes, available to Nigerian residents | Yes | Yes |
| ☪️ Islamic Account | Yes, on request | Yes | Yes, always available |
| 👉 Open account | 👉 Open Account | 👉 Open Account | 👉 Open Account |
FXTM Review of Platforms available for Nigerians
Nigerian traders with FXTM can access five trading platforms and tools. These include MetaTrader 4 and MetaTrader 5 for desktop and mobile trading, FXTM’s proprietary app, copy trading integration, and VPS access for remote execution.
MetaTrader 5
MT5 is available through FXTM Nigeria for traders looking to trade multiple markets with detailed charting and high-frequency execution. It supports desktop, browser, and mobile use.
Key Features
- VPS integration for uninterrupted trading.
- Interactive, customisable charts with drawing tools.
- Compatible with PC, Mac, Android, iOS, and Web.
- Over 80 built-in technical indicators.
- Commission-free trading on US stocks via Advantage Stocks.
- Supports multi-account use (MAM available).
MetaTrader 5 is ideal for traders who need data depth, a tool range, and broader market access.
MetaTrader 4
MT4 remains an option for Nigerian clients who prefer its familiar interface and reliable execution for Forex and CFDs. Available on mobile, desktop, or browser.
Key Features
- One-click execution and multi-chart layouts.
- 30+ standard indicators with MQL4 customisation.
- Available in over 20 languages.
- Full support for EAs and technical strategies.
- Works with FXTM’s VPS solution.
- Includes real-time price tracking and depth of market.
MetaTrader 4 is ideal for traders focused on currency markets and speed-sensitive execution.
FXTM VPS
FXTM offers VPS hosting to Nigerian clients meeting minimum deposit thresholds. It allows automated and manual trading to continue uninterrupted, regardless of local power or internet outages.
Key Features
- Fast execution ideal for EAs and scalping.
- 9% uptime and 24/7 connection stability.
- Protects trades from network or power issues.
- Access via Remote Desktop Protocol (RDP).
- Compatible with MetaTrader 4.
- Reduces latency during volatile market moves.
FXTM VPS is ideal for high-frequency traders or those using EAs who need stable, remote performance.
FXTM Copy Trading
FXTM supports manual, semi-automated, and fully automated copy trading through the MQL5 network. Nigerians can follow experienced traders while keeping control over how and when trades are mirrored.
Key Features
- Trade on your own account.
- Works with standard FXTM MT4 accounts.
- Commission structures vary by signal provider.
- Account approval is required before copying is enabled.
- Manual, semi-auto, and full automation options.
- Choose traders by strategy, performance, or drawdown.
Copy Trading is ideal for traders who want to follow proven strategies without full-time chart watching.
FXTM Trader App
Nigerian clients can trade Forex and CFDs using the FXTM Trader app for Android or iOS. It includes live pricing, funding, and trade execution in a lightweight format.
Key Features
- Instant access to your FXTM accounts and balances.
- Commission-free on many instruments, including major FX pairs.
- Typically zero spreads on Forex majors and gold.
- Supports deposits, withdrawals, and account management.
- Live pricing for currencies, oil, gold, and indices.
- Compatible with biometric login and push notifications.
The FXTM Trader App is ideal for mobile-first traders managing positions on the go.
Is automated trading supported for Nigerians on FXTM?
Yes. Both MT4 and MT5 support Expert Advisors (EAs), and VPS hosting is available for automated strategies.
| Minimum Deposit: $200 Regulated by: FCA, CMA, FSC, SCA Leverage: Up to 1:.3000 |
What Can You Trade with FXTM Nigeria? Market Range Explained
| Market Type | Market Description | Examples/Popular Instruments | Reasons Why Nigerian Traders Should Be Familiar With This Type |
| 🏦 Forex CFD | Trade global currency pairs with leverage and tight spreads. | EURUSD, GBPUSD, USDJPY, USDCAD | Forex is widely followed in Nigeria due to liquidity, familiarity, and 24-hour availability. |
| 📈 Stocks CFD | Trade price movements of global shares without owning the underlying asset. | Tesla, Apple, Amazon, Alphabet | CFDs on US stocks give Nigerian traders access to global companies with no exchange registration required. |
| 🛢️ Commodities CFD | Access agricultural, energy, and metal markets from one account. | Brent, Cocoa, Gold, Corn | Commodity trading is relevant for those tracking global price changes in crude oil, agricultural goods, and metals. |
| 📊 Indices CFD | Speculate on the performance of national or sector-specific stock indices. | NAS100, GER40, UK100, US500 | Index CFDs allow Nigerian traders to track broad market trends without stock-by-stock research. |
| 🚀 Crypto CFD | Trade crypto price movements without setting up wallets or handling private keys. | BTC, ETH, LTC, ADA | Popular among younger retail traders, crypto CFDs allow for exposure without needing to directly hold the asset. |
| 📈 US Stocks (Real) | Direct access to shares listed on US exchanges through Advantage Stocks Account. | Meta, Netflix, Microsoft, Johnson & Johnson | Traders seeking non-CFD ownership of US shares may prefer this account for dividend access and portfolio building. |
Does FXTM allow crypto trading in Nigeria?
No. FXTM does not offer cryptocurrency CFDs to Nigerian clients.
Are bonds available to trade on FXTM in Nigeria?
No. FXTM focuses on forex, indices, metals, commodities, and stock CFDs — bonds are not offered.
Is FXTM Expensive? All Trading Fees Explained
No, FXTM is not expensive for most Nigerian traders. You can access spreads from 0.0 pips, competitive commissions based on volume, and no mark-ups on Advantage Plus trades. Most fees depend on the account you open and the type of instruments you trade.
Spreads
FXTM offers different pricing depending on your account choice:
- Advantage Account: From 0.0 pips (variable).
- Advantage Plus Account: From 1.5 pips (no commission).
- Advantage Stocks Account: From $0.06 per US share.
Commissions
| Account Type | Commission |
| Advantage Account | From $0.40 to $2 per trade (volume-based). |
| Advantage Plus Account | None. |
| Advantage Stocks Account | From $0.40 to $2 per trade (volume-based). |
Overnight Fees
Swap fees vary based on your instrument and trade direction. These are a few examples:
- EUR/USD: +0.0476 (short), -0.1041 (long)
- XAU/USD (Gold): +0.3778 (short), -0.8586 (long)
- Brent: -0.3854 (short), +0.2666 (long)
- BTC/USD: 0.0 (short), -12.0 (long)
- Apple CFDs: +2.5 (short), -8.5 (long)
Deposit and Withdrawal Fees
| Method | Withdrawal Fee |
| Credit/Debit Cards | €2 / $3 / £2 |
| Bank Transfer | €30 / $30 / £30 |
| FasaPay | 0.5% of the amount |
| Perfect Money | 2% of the amount |
| PayRedeem | 1.5% of the amount |
Deposits are free of charge across most major methods.
Inactivity Fees
FXTM charges $10 / €10 / £10 per month if your account has no trading activity for 3 months. This will repeat monthly until the balance is used up.
Additionally, if you haven’t made any trades, FXTM may deduct any fees covered during reimbursement or charge 3% on the total withdrawal to recover costs.
Does FXTM charge overnight swap fees in Nigeria?
Yes. Swap fees apply on most positions held overnight unless you have a swap-free (Islamic) account.
| Minimum Deposit: $200 Regulated by: FCA, CMA, FSC, SCA Leverage: Up to 1:.3000 |
FXTM Payments – Funding and Withdrawals Explained
FXTM offers a wide selection of payment options in Nigeria, including cards, mobile money, and local bank transfers. Each method has its own processing time and fees, depending on the provider you use. All deposits must originate from an account in your name.
| Method Type | Method | Deposit Time | Withdrawal Time | Fees |
| 💳 Card | Visa / Mastercard / Maestro | Instant | Within 24 hours | ₦ equivalent of $3 per withdrawal |
| 🏦 Bank Transfer | Wire transfer | 3–5 business days | 3–5 business days | $30 per withdrawal |
| 📱 Mobile Money | FasaPay, Local Bank Transfer (NGN) | Instant | Up to 24 hours | 0.5% (FasaPay) / Free (Local) |
| 💼 E-Wallets | Neteller, Skrill, WebMoney, Perfect Money | Instant | Within 24 hours | 2% for Perfect Money |
| 💸 Prepaid Cards | PayRedeem | Instant | Within 24 hours | 1.5% withdrawal fee |
| 💼 Digital Wallets | TC Pay Wallet, GlobePay | Instant | Within 24 hours | Free for deposits |
How to Deposit Funds to FXTM
- Log in to MyFXTM and go to the Deposits page under ‘My Money’.
- Choose your preferred deposit method and click Deposit.
- Pick the account you want to fund and complete the fields required.
- Confirm your details and proceed. The funds will appear in your trading account shortly after.
How to Withdraw Funds with FXTM
- Go to the Withdraw tab under the ‘My Money’ section in MyFXTM.
- Select your withdrawal method and click Withdraw.
- Choose the account or wallet to withdraw from.
- Complete the form and submit your request. Payout times depend on your selected method.
Does FXTM have deposit bonuses in Nigeria?
FXTM’s bonus programs vary. Check the promotions page to see if a deposit bonus is currently offered for Nigerian clients.
| Minimum Deposit: $200 Regulated by: FCA, CMA, FSC, SCA Leverage: Up to 1:.3000 |
Does FXTM Offer Trading Education and Research Tools?
Yes. FXTM gives Nigerian traders full access to trading tools, market insights, and educational content. It suits everyone from self-taught traders to professionals working in finance.
| Tool | Description | Purpose for Traders |
| 📰 Market Analysis | Insight into Forex, stocks, indices, and commodities — updated daily. | Keeps traders aligned with shifts in oil prices, currency moves, and political drivers affecting the naira. |
| 🛠️ Trading Tools | Includes margin calculators, pip tools, profit calculators, and market stats. | Makes it easier to plan trades during peak sessions or volatile news hours, especially for day traders. |
| 📘 Free eBooks | Strategy guides and beginner intros available as free downloads — no login needed. | Ideal for traders building confidence offline or learning away from the charts. |
| 🗓️ Economic Calendar | Tracks global releases like NFP, interest rate decisions, and inflation reports. | Helps Nigerians plan entries around US data or news events tied to inflation and oil prices. |
| 📚 Articles & Strategy Guides | Covers crypto, stocks, futures, and common trader mistakes. | Helps newer traders from Lagos to Abuja avoid common pitfalls and refine strategies early. |
| 📖 Forex Glossary | No-nonsense explainer of industry terms from A to Z. | Makes it easier to keep up with platform terminology and analysis without getting lost in jargon. |
| 🎥 Trading Videos | Under-10-minute explainers from market pros covering key trading principles. | Useful for mobile learners and traders squeezing in learning between jobs, classes, or commutes. |
| 📉 FXTM Pro Trading Tools | Sentiment overlays, order templates, currency strength meters, and more — built into MT4/MT5. | Supports traders who want technical clarity and execution efficiency on MetaTrader. |
| 📊 Daily Market Analysis | Real-time insights, before-and-after major events, written by FXTM analysts. | Keeps traders focused during volatility and helps with trade setup validation. |
| 📈 Forex Calculators | Pip, profit, and margin calculators tailored to account type and instrument. | Saves time, avoids manual errors, and keeps lot sizing and targets in check. |
| 🚨 Trading Signals (Acuity) | Daily signal drops covering Forex, stocks, indices, and commodities, delivered with risk scores. | Helps traders who don’t have time to scan markets but still want to participate based on data-backed ideas. |
FXTM Review of the Partnership Program For Nigerians
Nigerian partners can earn up to $600 per active trader referred, without needing a massive following or a tech team behind them. Whether you blog or run a trading group, the structure is clear, the dashboard is clean, and the commission tiers reward effort.
Affiliate Program
This option is best suited to individuals or businesses with an online presence — websites, blogs, Telegram groups, or large WhatsApp circles. The setup supports high-conversion marketing with full tracking and monthly payments in USD.
What’s included
- Monthly CPA payouts range from $150 to $600, depending on the referral’s deposit and activity.
- Access to a 30-day tracking window, which means referrals don’t need to sign up instantly.
- FXTM provides banners, calculators, and registration forms.
- Partners use CellXpert — a dedicated portal with real-time stats and conversion tracking.
- Payouts by Skrill, Neteller, bank wire, or other supported methods. No minimum threshold.
What You Get as a Partner
- No earning ceiling: Commissions grow with every referral who deposits and trades.
- Tools that convert: Get dynamic banners, embedded forms, currency widgets, and more.
- Access to CellXpert: View traffic, leads, and CPA rewards in real time.
- Monthly payments: Payouts are processed between the 1st and 15th of each month, consistently.
- Promos and competitions: Extra cash and prizes through exclusive partner contests.
| Minimum Deposit: $200 Regulated by: FCA, CMA, FSC, SCA Leverage: Up to 1:.3000 |
FXTM Support Channels – Contact and Availability
| Customer Support | FXTM Customer Support |
| ⏰ Operating Hours | 24/5 global support. Weekday business hours apply for account-related queries. |
| 🔊 Support Languages | English, Arabic, Spanish, French, Chinese, Thai, Korean, Indonesian, Vietnamese, Portuguese, Hindi, Urdu, Bengali. |
| 👥 Live Chat | Available on the FXTM website and via the mobile app. Quick response time on weekdays. |
| ☎️ Email Address | [email protected] — suitable for documents, verifications, and KYC queries. |
| 🏆 Telephonic Support | +44 20 3734 2255 (UK) or +230 6595000 (Mauritius). Calls routed to support centres during working hours. |
| 📍 The Overall Quality of FXTM Support | Responsive and multilingual. Nigerian traders can expect quick email replies, solid live chat, and flexible contact options. |
FXTM Industry Recognition – Awards List
FXTM has earned several high-profile awards across Africa and beyond, with Nigeria featuring prominently in multiple wins. Here’s a record of the most recent industry recognition:
| 🗓️ Year | 🏅 Award Title | 🌍 Event / Notes |
| 2021 | Best Forex Education Provider – Nigeria | World Business Outlook |
| 2021 | Best Online Trading Platform – Nigeria | World Business Outlook |
| 2021 | Most Trusted Broker – Nigeria | World Business Outlook |
| 2020 | Best Forex Broker in Nigeria | ForexTrading.ng |
| 2026 | Best Trading Conditions – MEA | UFAwards – Middle East & Africa region |
| 2022 | The Best Educational Program | World Financial Award |
| 2022 | The Most Trusted Forex Broker | World Financial Award |
| 2022 | The Best Islamic FX Account | World Financial Award |
| 2022 | The Best Mobile App | World Financial Award |
| 2021 | Best Trading Experience | World Finance |
| 2021 | Best Online Leveraged Trading Specialists | Global Business Awards |
| 2020 | Best Trading Experience | World Finance |
| 2020 | Best ECN Broker | DayTrading.com |
| 2020 | Best Education Provider | FXDailyInfo.com |
| Minimum Deposit: $200 Regulated by: FCA, CMA, FSC, SCA Leverage: Up to 1:.3000 |
FXTM and Social Impact – Do They Give Back?
Yes, FXTM has backed high-impact projects across Africa, and Nigerians have benefited through exposure to these initiatives. Their focus is on putting funding behind people and organisations that are driving real outcomes, particularly in youth development and environmental awareness.
Velokhaya Life Cycling Academy (2019)
In South Africa, FXTM sponsored Velokhaya, a cycling academy helping young people avoid gangs, drugs, and violence. The support wasn’t limited to gear or publicity. It contributed to training access, community outreach, and helped amplify the academy’s mission of building future leaders through sport.
Lewis Pugh – The Long Swim (2018)
FXTM supported British-South African endurance swimmer Lewis Pugh on his 530km journey along the English Channel. This wasn’t a stunt. It pushed ocean conservation to the top of political agendas, with Pugh’s campaign influencing the UK government’s marine protection policies.
Sahara Force India (2017)
This F1 sponsorship aligned with FXTM’s data-driven approach. Their brand was seen globally, including across Africa, when the team competed during its most competitive years.
Dominika Cibulková Partnership (2017)
FXTM backed this tennis champion during one of her strongest seasons. Her dedication and discipline echoed the values FXTM wants to see in the traders it supports.
Valery Rozov – BASE Jump (2016)
Sponsoring Rozov’s historic Cho Oyu jump wasn’t about headlines. It was FXTM’s way of aligning with ambition that takes skill, risk control, and preparation — values Nigerian traders know well.
| Minimum Deposit: $200 Regulated by: FCA, CMA, FSC, SCA Leverage: Up to 1:.3000 |
Should You Trade with FXTM in Nigeria? Final Thoughts
Yes — if you want access to a fully licensed broker that offers local support, a range of trading accounts, and proper fund protection, FXTM is worth considering.
Nigerian traders can open live or demo accounts quickly, with the option of Islamic trading, tight spreads on major pairs, and commission models that reward high-volume strategies.
FXTM’s Nigeria-facing operation is backed by offshore regulation, but that hasn’t stopped them from offering local payment options and region-specific customer support.
Their education programme includes market insights, ebooks, webinars, and analyst commentary with names you can Google, and not faceless writers.
Overall, the platform coverage is expansive, and pricing is competitive. If you’re after transparency and local relevance, it’s a strong alternative to some of the lesser-known brokers targeting Nigeria.
FXTM Pros and Cons Breakdown
| 🟢 Pros | 🔴 Cons |
| Accepts Naira deposits and offers NGN accounts | No physical office or phone support in Nigeria |
| Regulated in multiple jurisdictions including South Africa and Mauritius | Not licensed by Nigeria’s SEC |
| Leverage up to 1:3000 available for experienced traders | High leverage can amplify losses |
| Offers MetaTrader 4 and 5 with full support for EAs and custom tools | VPS access requires minimum deposit threshold |
| Low spreads from 0.0 pips on Advantage Account | Wider spreads on commission-free Advantage Plus account |
| Commission-free trading options available | Commission-based model may not suit lower-volume traders |
| Islamic accounts offered without swaps on request | Swap-free must be manually requested |
| Offers trading in Forex, crypto, stocks, commodities, indices | Real US shares only available on Advantage Stocks Account |
| Copy trading via MQL5 with manual and automated options | Requires separate approval before using copy trading |
| FXTM Trader App supports full account management and trade execution | Most payment methods charge withdrawal fees |
| Fast trade execution with support for scalping and high-frequency trading | No cent account on Advantage or Advantage Plus accounts |
| Rich educational resources tailored to all skill levels | Inactivity fees kick in after 3 months without trading |
| Withdrawals typically processed within 24 hours for most methods | VPS access requires minimum deposit threshold |
| Supports local payment options like bank transfers and mobile money | Wider spreads on commission-free Advantage Plus account |
| Extensive award history across Africa and global markets |
| Minimum Deposit: $200 Regulated by: FCA, CMA, FSC, SCA Leverage: Up to 1:.3000 |
FXTM Review Detailed Summary
| Category | Details |
| 🌟 Company Name | FXTM (ForexTime) |
| 📅 Year Founded | 2011 |
| 🏢 Head Office | +234 803 457 3593 |
| ☎️ Nigerian Office | Yes (Lagos) |
| 📞 Nigerian Contact Number | Available |
| 🌐 Website | FXTM Nigeria |
| 🌍 Regulatory Bodies | FCA, CySEC, FSCA, FSC Mauritius |
| 🏛️ Tier-1 Licenses | FCA (UK) |
| 🏢 Tier-2 Licenses | CySEC, FSCA (South Africa) |
| 🏢 Tier-3 Licenses | FSC Mauritius |
| 👥 Active Traders Globally | Over 4 million |
| 🏆 Awards | Best Trading Conditions, Best Forex Broker Africa |
| 📈 Trading Desk Type | ECN, Market Maker |
| 🛡️ Is FXTM Safe? | Yes (Multiple regulations) |
| 🌎 Accept US Clients | No |
| 🛡️ Negative Balance Protection | Yes |
| 💵 Account Types | Micro, Advantage, Advantage Plus |
| 🌍 Account Opening Languages | English |
| 🌟 Islamic Account Available | Yes |
| ⏱️ Account Opening Time | 24-48 Hours |
| 💰 Minimum Deposit | $10 (₦10,000 equivalent) |
| 🏦 Deposit Methods | Local Bank Transfer, Debit/Credit Card, E-wallets (Skrill, Neteller), Crypto |
| 📊 Demo Account Available | Yes |
| 💼 Welcome Bonus | Yes (varies by region) |
| ⚡ Deposit Processing Time | Instant to 24 Hours |
| 💹 Leverage | Up to 1:2000 |
| 📊 Spreads | Low (from 0.0 pips on Advantage) |
| 🔄 Swap-Free Accounts | Yes (Islamic option) |
| ⚡ Scalping Allowed | Yes |
| 🛡️ Hedging Allowed | Yes |
| ⚙️ Trading Platforms | MetaTrader 4, MetaTrader 5, FXTM Trader |
| 🖥️ Desktop App | Yes |
| 📱 Mobile App | Yes (iOS & Android) |
| 🌍 Trading Products | Forex, Cryptos, Stocks, Commodities, Indices |
| 🛠️ Technical Tools | AutoChartist, Trading Signals |
| 📈 Charting Tools | Advanced Indicators, Timeframes, Alerts |
| 🔍 Watch List | Yes |
| 📚 Learning Materials | Yes (Webinars, Videos, eBooks) |
| 🗓️ Economic Calendar | Yes |
| 🧑🏫 Weekly Webinars | Yes |
| 🌟 Beginners Friendly Platform | Yes |
| 🛠️ Trading Tools | Risk Calculators, Currency Converter |
| 📧 Email Support | Yes |
| ☎️ Phone Support | Yes |
| 💬 Live Chat Support | Yes |
| 🕒 Customer Support Hours | 24/5 |
| 🪙 Deposit Fee | No |
| 🏦 Withdrawal Fee | No (some methods may apply) |
| 💸 Inactivity Fee | Yes (after 6 months) |
| 💵 Commission Fee | Yes (from $0.40 per lot on Advantage account) |
| 💳 Payment Methods | Bank Transfers, Debit/Credit Cards, E-wallets, Crypto |
| 🌍 Local Languages Supported | English |
| 🇳🇬 Local Bank Transfers Supported | Yes |
| 💰 Minimum Deposit in Naira | ₦10,000 |
| 📞 Nigerian Customer Support | Available |
| 🛡️ Regulation in Africa | FSCA (South Africa) |
| 🌟 Popularity in Nigeria | High |
| 🌟 Beginner Friendliness | High |
| 📚 Education Quality | High |
| 💵 Deposit & Withdrawal Process | Seamless |
| 📊 Platform Quality | High (MT4, MT5, FXTM Trader) |
| 💬 Customer Service Quality | Excellent |
| 🌟 Trustworthiness | 90% |
| 🚀Sign up | 👉 Open Account |
Information Sources Used in This FXTM Review
- FXTM Official Website
- Financial Services Commission (FSC) Mauritius
- Financial Sector Conduct Authority (FSCA) South Africa
- Capital Markets Authority (CMA) Kenya
| Minimum Deposit: $200 Regulated by: FCA, CMA, FSC, SCA Leverage: Up to 1:.3000 |
FXTM FAQs – Trader Questions Explained
What makes an FXTM Nigeria account special?
FXTM supports Naira accounts, local bank deposits, and gives Nigerians the ability to fund and withdraw without extra conversion steps.
Is FXTM regulated for Nigerian traders?
FXTM is not regulated by Nigeria’s SEC, but Nigerian clients trade under Exinity Limited, which is licensed in Mauritius and South Africa.
Does FXTM charge for Naira withdrawals in Nigeria?
Yes, some withdrawal methods charge small fees. Local bank withdrawals are usually free.
Is FXTM a scam in Nigeria?
No. FXTM is a well-known broker with licences, local support, and years of presence in the region.
Does FXTM offer commission-free trading in Nigeria?
Yes. The Advantage Plus account removes commissions entirely.
How fast are FXTM deposits for Nigerians?
Most deposit methods process instantly or within a few hours.
What’s the maximum leverage FXTM offers in Nigeria?
Traders can access up to 1:3000 leverage, depending on their account and instrument.
Does FXTM have inactivity fees for Nigerians?
Yes. Accounts without trading activity for three months are charged $10 monthly.
What fees should Nigerian FXTM users expect?
FXTM charges commissions on some accounts, overnight swap fees, and withdrawal or inactivity fees in some instances.
Can I trade with zero spreads on FXTM from Nigeria?
Yes. The Advantage account offers spreads from 0.0 pips, with a volume-based commission.
What educational resources does FXTM offer Nigerians?
Traders get access to eBooks, strategy videos, webinars, articles, and daily market analysis.
Can I trade Nigerian naira pairs on FXTM?
You can fund your account in Naira, but NGN-based currency pairs are not listed in the instrument range.
Is FXTM safe with client funds in Nigeria?
Yes, FXTM holds client funds in segregated accounts and is licensed by reputable financial regulators.
What platforms does FXTM support in Nigeria?
FXTM supports MetaTrader 4, MetaTrader 5, and a proprietary trading app for mobile.
How much is the minimum deposit with FXTM in Nigeria?
The minimum deposit is ₦80,000 for all live account types.
Can Nigerian traders use local bank deposits with FXTM?
Yes. Local bank transfers are supported for both deposits and withdrawals.
How quickly can Nigerians withdraw from FXTM?
Most withdrawals are processed within 24 hours. Timing may vary depending on the payment method.
Does FXTM offer negative balance protection in Nigeria?
Yes. FXTM protects traders from going below zero on their account balance.
Can Nigerians practice first with a FXTM demo account?
Yes. Demo accounts are free and unlimited. You can test strategies with virtual funds.
Are FXTM commissions charged per trade in Nigeria?
On the Advantage and Stocks accounts, commissions range from $0.40 to $2 per trade, depending on volume.
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