The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints!
7-day free for non FXTM broker accountsPermanent free for FXTM broker real accounts
Exinity Limited, 5th Floor, 355 NEX Tower, Rue du Savoir, Cybercity, Ebene 72201, Mauritius
3rd Floor, 5, Allen Avenue, Ikeja Lagos, Nigeria
The number of the complaints received by WikiFX have reached 36 for this broker in the past 3 months, please be aware of the risk and the potential scam!
This broker exceeds the business scope regulated by South Africa FSCA(license number: 46614)National Futures Association-UNFX Non-Forex License, please be aware of the risk!
Average transaction speed（Millisecond） Good 408.4
The fastest transaction speed（Millisecond） 6
The fastest transaction speed [open]（Millisecond） 6
The fastest transaction speed [close]（Millisecond） 6
Slowest transaction speed（Millisecond） 1999
Slowest transaction speed [open]（Millisecond） 1986
Slowest transaction speed [close]（Millisecond） 1999
Average disconnection frequency（times/day） Perfect 0.3
Average reconnection time（Millisecond） 61
XAUUSD Perfect 21.61USD/lot
Average trading slippage Perfect -0.6
Maximum transaction slippage 29
Maximum transaction slippage [Long] -17
Maximum transaction slippage [Short] 29
Unable to withdraw money and I must pay personal income tax
Applied for withdrawal on 2022/5/2.The Customer Service replied: Hello sir, after verification by the HKMA, your trading account 95581XXX profit reaches the tax standard, you need to pay personal income tax, the amount is: 3720 USD. After the payment is completed, the withdrawal can complete review session! It requires tax payment to withdraw
Unable to withdraw nor contact the customer service
Deny the withdrawal for various reasons before. The attitude of customer service is extremely perfunctory. The withdrawal request suddenly passed in 26th, but cannot receive the fund for a long time
Unable to withdraw and must pay 50% personal income tax
I was induced to deposit money step by step before. Now 75% of the account balance is my principal, but it said that I need to pay 50% of the account balance as personal income tax to resume the withdrawal business. I consulted professionals in Japan and told me such a requirement is unreasonable. I really have no money. I have borrowed 940,000 yen from a friend for the platform anniversary event and illegal payment. Now my friend has no money to lend me any more to pay taxes. I hope the platform can help me get an explanation.
Induced deposits with anniversary activities, and then a series of problems followed
Picture On April 9th, a friend told me that the business had an anniversary event and asked me to contact customer service to see if I had the right to participate, so I was confused and passively participated. Figure  On April 10th, the first application for withdrawal of funds failed. The customer service refused to withdraw funds on the grounds that the anniversary activities were not completed, and said that the activities that were not completed within the specified time would be handed over to the judicial department and reported for levy letter. Figure  On April 11th, I borrowed money from a friend. Due to the transfer limit, I made a deposit of 320,000 yen and completed 50% of the progress of the activity. Figure  The platform could not be accessed on April 12th and 13th, the official statement is system maintenance and upgrade; on April 14th, the deposit of 331,000 yen was completed to complete the anniversary event. Figure  On April 14th, the second withdrawal failed. The customer service asked me to pay 20% of the account balance as the violation fee on the grounds that my account maliciously attacked the platform system data and caused a high profit violation, otherwise the account will be frozen. On April 15th, deposit 342,500 yen as a deposit. Figure  On April 17th, the deposit arrived. Figure  From April 18th to 22nd, I contacted customer service about the withdrawal of funds, and I have been inquiring all the time, but there is no result; I later informed that the profit part needs to pay 50% of the account balance as personal income tax before the withdrawal can be resumed. business. Figure  On April 24th, the illegal payment was refunded to the account. Figure  On April 24, it was found that the account main body of the old version was inconsistent with the account main body of the new version. I asked customer service, the customer service explained it, and sent an email to Exness's official mailbox for verification, but no reply was received.
Be Aware ! especially for asian people. you cannot depo using bank transfer and fxtm force you to use visa/master debit/credit card. When you try to wd, your payment option will not available, and they ask for bank statement that include your car with transaction to fxtm which will not available if you use visa debit. STAY AWAY FROM THIS BROKER !!
Unable to withdraw
Do not trust this platform http://www.fxtmvip.com/. You cannot withdraw from them
Internet scam of
Friends on the Internet suggested this fraud platform and led you to deposit. But you could not withdraw and the account was deleted by them.
The currency market is unfathomable – it is full of opportunities as well as risks. Many investors have gained good returns after entering the forex markets, and some also have learned painful lessons that cost them a great amount of fortune. Today, WikiFX will be reviewing a forex broker named FXTM for the perusal of all traders and/or investors.
Scalping is described as a trading method in which traders aim to benefit from tiny price swings, generally after completing a deal and becoming successful. Such traders often trade with a tight, pre-planned exit strategy since a single large loss may easily wipe out their numerous tiny wins earned through hard labor. Scalpers depend on various aspects, including scalping indicators, live feed, direct-access brokers, and the ability to execute several trades, to make their trading method effective.
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There are 34,000+ brokers in WikiFX, which is provided for global users to check the full information of all the brokers free of charge without paying a single kobo. Today WikiFX will highlight some forex brokers for the Muslim traders to use and trade without any Interest (Riba) Which is prohibited in the Islamic business.
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The Cyprus Securities and Exchange Commission (CySEC) was established in accordance with section 5 of the Securities and Exchange Commission (Establishment and Responsibilities) Law of 2001 as a public legal entity. It is an independent public supervisory Authority responsible for the supervision of the investment services market, transactions in transferable securities carried out in the Republic of Cyprus and the collective investment and asset management sector. It also supervises the firms offering administrative services which do not fall under the supervision of ICPAC and the Cyprus Bar Association.
License Type:Market Making(MM)
Regulated in Country/AreaCyprus
Regulatory License No.：185/12
Email Address of Licensed Institution :firstname.lastname@example.org
License Type:No Sharing
Website of Licensed Institution :
Expiry Date :--
Address of Licensed Institution :35, Lamprou Konstantara Street, FXTM Tower, Kato Polemidia, CY-4156 Limassol
Phone Number of Licensed Institution :+357 25 558 777
The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK Government, and is financed by charging fees to members of the financial services industry. On 19 December 2012, the Financial Services Act 2012 received royal assent, and it came into force on 1 April 2013. The Act created a new regulatory framework for financial services and abolished the Financial Services Authority. The FCA regulates financial firms providing services to consumers and maintains the integrity of the financial markets in the United Kingdom. It focuses on the regulation of conduct by both retail and wholesale financial services firms.
License Type:Straight Through Processing(STP)
Regulated in Country/AreaUnited Kingdom
Regulatory License No.：777911
Email Address of Licensed Institution :email@example.com
License Type:No Sharing
Website of Licensed Institution :
Expiry Date :--
Address of Licensed Institution :1 St. Katharine's Way London E1W 1UNE 1 W 1 U N UNITED KINGDOM
Phone Number of Licensed Institution :442035141251
The Financial Sector Conduct Authority (FSCA) is the market conduct regulator of financial institutions, that provide financial products and financial services, financial institutions that are licensed in terms of a financial sector law, including banks, insurers, retirement funds and administrators, and market infrastructures. The FSCA is responsible for market conduct regulation and supervision. FSCA aims to enhance and support the efficiency and integrity of financial markets and to protect financial customers by promoting their fair treatment by financial institutions, as well as providing financial customers with financial education. The FSCA will further assist in maintaining financial stability.
License Type:Financial Service Corporate
Regulated in Country/AreaSouth Africa
Regulatory License No.：46614
Email Address of Licensed Institution :--
License Type:No Sharing
Website of Licensed Institution :
Expiry Date :--
Address of Licensed Institution :FXTM TOWER 35 LAMPROU KONSTANTARA, KATO POLEMIDIA LIMASSOL, CYPRUS
Phone Number of Licensed Institution :00357 25558777
You can check the real-time processing progress in 'User Center-My Release-Ponzi Scheme'
General Information & Regulation
Founded in 2011, FXTM is an online forex broker, providing services for foreign exchange, indices, commodities, and more financial instruments. FXTM is regulated in multiple jurisdictions worldwide, with offices in Europe, the Middle East, Africa, Asia, and Latin America, attracting over 2 million clients from over 150 countries worldwide. Exinity Limited is regulated by the Mauritius Financial Services Commission, and Exinity UK Ltd is regulated by the Financial Conduct Authority (FCA) in the UK (Reg. No. 777911), and Forextime Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) (Reg. No. 185/12).
FXTM offers over 250 trading products to investors worldwide, covering a wide range of investment instruments such as currency pairs, precious metals, commodity CFDs, index CFDs, equities CFDs, and more.
To meet different investors' investment needs and trading experience, FXTM has set up several account types. The main account types are Standard and ECN accounts. Standard Accounts are subdivided into Standard accounts (with the minimum deposit of $100/€/£), FX Cent accounts ( with the minimum deposit of $10/€/£), and Equity CFD accounts (with the minimum deposit of 100 USD/EUR/GBP). ECN accounts are divided into ECN accounts (with the minimum deposit 500 USD/EUR/GBP), ECN zero commission accounts (with the minimum deposit 200 USD/EUR/GBP) and FXTM Pro accounts (with the minimum deposit 25, 000 USD/EUR/GBP).
Lverage Lever also differs depending on different accounts. Standard accounts with floating leverage of 1:2000, FX Cent accounts with the leverage of 1:1000 to 1:25 (FX), and the Equity CFD account with the fixed leverage 1:10 for US equities, 1:3 for European equities, the ECN accounts with the floating leverage 1:2000, the ECN Zero commission account 1:2000, and FXTM Pro account with a flexible leverage: 1:200 to 1:25.
Spreads & Commissions
Minimum spreads start at 1.3 pips for Standard accounts, 1.5 pips for Forex Cent accounts, and 0.1 pips for Equity CFD accounts. Minimum spreads start at 0.1 pips for ECN accounts with a commission of $2 per lot (one side), minimum spreads start at 1.5 pips for ECN zero commission, and 0 pips for FXTM Pro accounts. FXTM offers flexible rules for ECN MT4 accounts offer flexible rules for floating commissions. The more funds an investor has and the larger their trading volume, the lower the commission they pay. Please note that the commission formula for ECN MT4 is: (Volume * Contract Operation * Opening Price) / 1,000,000 * Commission * 2.
FXTM Trading Platform
FXTM offers desktop, Apple, mobile, and tablet versions of the industry-leading trading platforms MetaTrader 4 and MetaTrader 5 to meet a wide range of traders' needs and increase their trading flexibility. If traders prefer to trade directly through their browser, they can use MT4 and MT5 on PC and Mac To trade, WebTrader - no download required! For traders with multiple accounts, FXTM also offers traders a Multiple Account Management System (MAM) on MT4 for easy management and ultimate convenience.
Deposit & Withdrawal
FXTM offers its clients various deposit and withdrawal methods, mainly VISA, MasterCard, Maestro credit cards, Skrill, Moneybookers, VLOAD, TC Pay wallet, NETELLER (VIP clients only), PayPal, Perfect Money, Bitcoin, Internet banking, local transfers in India and Pakistan, local transfers in Nigeria, no commission for deposits. Withdrawals via VISA, MasterCard, Maestro are subject to a fee of US$3/€2/£2. Withdrawals via PayPal are subject to 2%, withdrawals via Perfect Money are subject to a fee of 0.5%, withdrawals via Bitcoin are subject to a fee of 1%. There is no fee for other withdrawal methods.
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Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.
Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.