TM Forex Review 2026
Regulated broker with real licence numbers.
TM Forex is a regulated CFD broker founded in 2013. It holds a FSA licence under number SD037.
The basics
TM Forex was founded in 2013 and is headquartered in Victoria, Seychelles. It is privately owned. The broker offers CFDs on 200 instruments across forex, indices, commodities, and crypto. All positions are contracts for difference — there is no real asset ownership.
MetaTrader is available on all account types. Copy trading is not offered.
| Founded | 2013 |
| Headquarters | Victoria, Seychelles |
| Instruments | 200+ |
| Platforms | MT4, MT5 |
| MetaTrader | Yes — MT4 and MT5 |
| Copy trading | No |
| Real stocks | No — CFDs only |
Is TM Forex safe?
The Seychelles FSA is an offshore regulator. It requires broker registration and basic conduct rules, but does not offer the same client protections as the FCA, CySEC, or ASIC. There is no compensation scheme and leverage limits are not imposed.
| Regulator | Licence | Entity |
|---|---|---|
| FSA | SD037 ✓ | TM Forex Group Ltd |
You can verify the FSA licence at fsaseychelles.sc. The registration shows the entity name, authorisation status, and full permissions list. It takes under a minute.
TM Forex spreads
These are the typical spreads on TM Forex's standard account. Spreads vary by market conditions and account type. ECN or raw-spread accounts offer lower spreads in exchange for a per-trade commission.
| EUR/USD | 0.8 pips pips |
| GBP/USD | 1.1 pips pips |
| USD/JPY | 0.9 pips pips |
| Gold (XAU/USD) | 23c/oz |
| S&P 500 | 0.5pt |
TM Forex's EUR/USD spread of 0.8 pips pips is competitive for a retail broker without a per-trade commission.
TM Forex withdrawal fee and processing time
Fee: None. TM Forex does not charge deposit or withdrawal fees. Your payment provider may apply their own transfer fees.
Processing time: Instant to 24 hours for e-wallets. Bank transfers take 1 to 3 business days.
Withdrawal requests must pass identity verification before processing. If your account is not yet fully verified (proof of identity and address submitted), expect additional delays. Verified accounts follow the standard processing times above.
TM Forex minimum deposit by entity
The minimum deposit depends on which TM Forex entity serves your country. Offshore entities often allow lower minimums but with less regulatory protection.
| Entity | Regulator | Min deposit | Max leverage (forex) |
|---|---|---|---|
| TM Forex Group Ltd | FSA SD037 | $50 | 1:500 |
TM Forex vs RoboForex
| TM Forex | RoboForex | |
|---|---|---|
| Primary regulator | FSA SD037 | FSC 000138/210 |
| Min deposit | $50 | $10 |
| EUR/USD spread | 0.8 pips pips | From 0.0 |
| MetaTrader | Yes | Yes |
| Instruments | 200+ | 12,000+ |
| Copy trading | No | Yes |
| Withdrawal fee | None | Varies |
Both brokers are regulated and legitimate. TM Forex suits traders who value MetaTrader and algorithmic trading. RoboForex is better for traders who prioritise tighter spreads.
Regulation — the numbers that matter
| FSA | SD037 — TM Forex Group Ltd |
Leverage for retail clients in the EU and UK is capped at 1:500 on major forex pairs under ESMA rules. The offshore entity offers up to 1:500, but with lighter regulatory protection.
Pros and Cons
What works
- FSA regulated
- Low minimum deposit ($50)
- MetaTrader 4 and 5 available
- No inactivity fee
What does not work
- No tier-1 regulator (FCA/ASIC/CySEC) — offshore entity only
- No copy trading
- No real stock ownership — CFDs only
The verdict
TM Forex is a legitimate, regulated broker. The FSA licence number SD037 is verifiable on the public register. It is best suited for traders who want MetaTrader on a regulated platform. Rating: 4.0 out of 5.
Alternatives to TM Forex
If TM Forex does not fit your needs, these regulated alternatives are worth comparing:
Frequently asked questions
Is TM Forex safe?
The Seychelles FSA is an offshore regulator. TM Forex holds FSA licence SD037, which is publicly verifiable on the official register.
What is the TM Forex minimum deposit?
The minimum deposit is $50. This applies to the main regulated entity. Some offshore entities may differ. See the entity table above for full breakdown.
What is the TM Forex EUR/USD spread?
The EUR/USD spread on TM Forex standard accounts is typically 0.8 pips pips. Spreads vary with market conditions. ECN or raw accounts offer lower spreads with a per-trade commission instead.
How long does TM Forex take to process withdrawals?
Instant to 24 hours for e-wallets. Bank transfers take 1 to 3 business days.
Does TM Forex charge withdrawal fees?
None. TM Forex does not charge deposit or withdrawal fees. Your payment provider may apply their own transfer fees.
Does TM Forex have MetaTrader?
Yes. TM Forex supports both MT4 and MT5 on all account types. This allows automated trading, custom indicators, and expert advisors.