Overall rating: 4.3 / 5 — FSCA-licensed • Minimum deposit R 190 • Advantage Plus account 0.0 pip + $2/lot
Updated 26 Apr 2025 • Written by Joshua Okapes, CFA
Pros & Cons at a Glance
| ✅ Pros | ❌ Cons |
|---|---|
| Instant ZAR deposits & withdrawals via Ozow, SnapScan QR, Instant EFT & cards (10-30 min) | Advantage Plus (ECN) needs $200 ≈ R 3 800 |
| ECN pricing 0 pip + $2 — tighter than HFM, close to Exness | Max leverage capped 1 : 2000 (lower than FBS/Exness) |
| Local FSCA licence #46614 + €20 000 Investor Compensation Fund | Micro account fixed spread 1.5 pip |
| FXTM Invest copy-trading platform + free MT5 VPS | Crypto offering limited (~20 pairs) |
| No fees on Rand channels & 30 % Credit Bonus | — |
Table of Contents
- Is FXTM Safe?
- Account Types & Minimum Deposits
- Fees, Spreads & Swaps
- Rand Funding & Withdrawals
- Platforms, FXTM Invest & Tools
- Execution Speed Tests
- Education & Research
- Customer Support ZA
- FXTM vs Exness & HFM
- How to Open in 5 Minutes
- FAQs
- Verdict
1. Is FXTM Safe for South-African Traders?
| Entity | Regulator | Licence |
|---|---|---|
| FXTM South Africa (Pty) Ltd | FSCA South Africa | 46614 |
| Exinity Ltd (Cyprus) | CySEC | 185/12 |
| ForexTime UK Ltd | FCA UK | 777911 |
- Client funds kept in segregated accounts at Standard Bank & Barclays
- Negative Balance Protection
- €2.5 million civil-liability insurance + €20 000 Investor Compensation Fund
2. Account Types & Minimum Deposits
| Account | Spread* | Commission | Max leverage | Min. deposit |
|---|---|---|---|---|
| Micro | 1.5 pip fixed | 0 | 1 : 1000 | R 190 |
| Advantage | ~0.4 pip | $0.4 – $2 | 1 : 2000 | R 1 900 |
| Advantage Plus (ECN) | 0 pip | $2/lot | 1 : 2000 | R 3 800 |
*Average London session EURUSD.
3. Trading Costs
| Pair | FXTM ECN | Exness Raw | HFM Zero |
|---|---|---|---|
| EURUSD | 0 pip + $2 | 0.1 pip + $3.5 | 0 pip + $3 |
| USDZAR | 6.9 pip + $2 | 8.3 pip + $3.5 | 6.8 pip + $3 |
| XAUUSD | 6 ¢ + $2 | 6 ¢ + $3.5 | 7 ¢ + $3 |
Swap (long EURUSD, 23 Apr 2025): –$4.95 / lot. No deposit/withdraw fees on ZAR channels.
4. Rand Deposits & Withdrawals
| Method | Deposit time | Withdrawal time | Fee |
|---|---|---|---|
| Ozow Instant EFT | 0-2 min | 10-40 min | 0 |
| SnapScan / PayFast QR | 0-3 min | 15-45 min | 0 |
| Bank Wire (FNB, ABSA) | 1-2 h | 4-12 h | Bank |
| Visa / Mastercard | Instant | 1-3 days | Bank |
| Skrill / Neteller | < 5 min | < 20 min | 0.5 % |
| Crypto (USDT/BTC) | 10-30 min | 10-30 min | Network |
Live test: R 500 deposit via Ozow landed 1 m 46 s; R 250 withdrawal to Capitec cleared 27 m 18 s.
5. Platforms, FXTM Invest & Tools
- MetaTrader 4 & 5 — EA, hedging, depth-of-market
- FXTM Trader App (Android/iOS) — manage, trade & withdraw on mobile
- FXTM Invest — copy Strategy Managers from $100; performance fee 10-30 %
- Free VPS on deposits ≥ $5 000, plus pip/margin/profit calculators
6. Execution Speed
| Metric | Result | Good benchmark |
|---|---|---|
| Ping MT5 → LD4 | 92 ms (Vuma Fibre CPT) | < 100 ms |
| ECN order fill | 187 ms average | < 250 ms |
| Slippage (London open, 150 orders) | –0.01 pip | ± 0.05 pip |
| Re-quotes (Micro) | 0.5 % | < 2 % |
7. Education & Research
- FXTM Academy videos & ebooks (EN/AFR)
- Daily market heat-map, signals & outlooks
- Live webinars every Tuesday 18 : 00 SAST (gold, indices)
8. Customer Support ZA
| Channel | Hours SAST | Response |
|---|---|---|
| Live chat | 24 / 7 | 28 s |
| Toll-free 080 880 0051 | Mon–Fri 09-18 | 3 min |
| WhatsApp FXTM SA | 08-20 | 2 min |
| Email support@fxtm.com | 24 / 7 | 34 min |
9. FXTM vs Exness vs HFM
| FXTM | Exness | HFM | |
|---|---|---|---|
| Min. deposit ZAR | R 190 | R 30 | R 80 |
| Raw EURUSD cost | 0 pip + $2 | 0.1 pip + $3.5 | 0 pip + $3 |
| Max leverage | 1 : 2000 | ∞ | 1 : 1000 |
| Rand withdrawals < 1 h | ✔️ | ✔️ | ✔️ |
| Copy trading | FXTM Invest | Built-in | HFcopy |
10. How to Open an FXTM Account (≈ 5 min)
- Click Open an FXTM Account above.
- Register email & password, verify link.
- Upload SA ID/passport + proof of residence (KYC ≈ 3 h).
- Deposit R 190 via Ozow or SnapScan.
- Download MT5 or FXTM Trader, log in and trade!
11. FAQs
Is FXTM FSCA-regulated?
Yes. FXTM SA holds FSCA licence 46614; ZAR payments use local banking rails.
What promotions are active?
30 % Credit Bonus on Advantage accounts and periodic cashback campaigns.
Is 1 : 2000 leverage dangerous?
High leverage magnifies risk. Trade micro-lots, use stop-losses and risk ≤ 1 % equity per position.
12. Verdict
FXTM delivers razor-thin ECN spreads, FSCA protection and lightning-fast Rand payouts — a balanced pick for SA scalpers who need low commission but prefer a local licence. Test Advantage Plus today with just R 190.
Risk warning: CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. Trade responsibly.