FXTM Review 2026
Full FXTM review for Nigeria traders — regulation, spreads, fees and our honest verdict.
Regulation in Nigeria
| Regulator | FSC — Financial Services Commission (FSC) |
| Licence Number | GB19425494 |
| Regulated Entity | Exinity Ltd |
| Max Leverage (Forex) | 1:2000 |
| Minimum Deposit | $10 |
| EUR/USD Spread | From 0.1 pips |
| Instruments | 1,000+ |
| Platforms | MT4, MT5 |
| Copy Trading | ✓ |
| Real Stocks | ✗ |
| Inactivity fee | Inactivity fee: USD5/month after 6 months |
Verdict
Regulated by FSC (licence GB19425494). Minimum deposit $10. In Nigeria: maximum forex leverage 1:2000.
About FXTM
FXTM was founded in 2011 and is headquartered in Limassol, Cyprus. The broker offers 1,000 tradeable instruments including forex pairs, CFDs on stocks, indices and commodities. It is regulated across multiple jurisdictions with a primary licence held by Exinity Ltd under FSC.
In Nigeria, FXTM operates as Exinity Ltd, authorised by FSC under licence number GB19425494. Nigeria traders are subject to a maximum leverage of 1:2000 on forex pairs under FSC rules.
Trading Platforms
Pros
- FSC regulated — licence GB19425494
- 1,000+ instruments to trade
- Negative balance protection in Nigeria
- Platforms: MT4, MT5
- Copy trading available
Cons
- Inactivity fee: USD5/month after 6 months
- 78% of retail clients lose money
- CFD trading — you do not own the underlying asset
- No real stock ownership
Key Facts About FXTM
- Regulated by CySEC (EU), FCA (UK), FSC (Mauritius) and CMA (Kenya) across 4 jurisdictions
- FXTM Invest copy trading features verified track records with audited performance history
- Strong localised presence in Africa and Middle East with 24/7 support in local languages
Known Limitations
- EU/UK entities capped at 1:30 leverage; high leverage via FSC entity
- No share CFDs on ECN accounts
- Withdrawal processing times reported slower than ECN-first brokers by some clients
Frequently Asked Questions
Is FXTM regulated?
FXTM holds FSC licence GB19425494, issued to the regulated entity {entity}. This is a real, verifiable licence recorded in the official FSC public register.
What is the minimum deposit for FXTM in Nigeria?
The minimum deposit is $10. This is the amount required to open a live trading account for traders in Nigeria under FSC regulation.
What leverage does FXTM offer in Nigeria?
In Nigeria, FXTM offers maximum forex leverage of 1:2000 under FSC rules. Higher leverage may be available through offshore-regulated entities.
Is FXTM safe to trade with?
FXTM is regulated by FSC, which requires segregated client funds, negative balance protection and independent audits. Regulation does not eliminate trading risk, but it provides meaningful investor protection.
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