FXTM Review 2026: Is It Safe for Traders in Nigeria, Kenya and South Africa?

Who FXTM suits, and who should look elsewhere

FXTM may suit you if:

• you live in Nigeria and want your trading account held in naira rather than dollars;
• you live in Kenya and want a broker whose Kenyan company is on the CMA register, with mobile money listed on its Kenya page;
• you want a cent account for very small positions.

Look elsewhere if:

• you hold positions for more than a few days and want them to stay swap-free;
• you may leave your account unused for months: FXTM charges a monthly inactivity fee after 3 months without trading;
• you want copy trading, which we couldn’t confirm is still running at FXTM.

What this review is based on

We review FXTM the same way as any other broker: from regulator registers and the broker’s own published information.

Unlike several other brokers’ sites, fxtm.com let us read its accounts, licence, swap-free and payment pages directly on 8 November 2026. We read the Kenyan licence on the CMA’s register. We couldn’t read the FSC Mauritius or FSCA registers, so the licences there are as FXTM states them. FXTM says it has been trusted since 2011. We haven’t tested FXTM on a live account. See how we review brokers.

Which FXTM company serves you

Whether FXTM is “safe” for you comes down mostly to which company holds your money and who regulates it. No broker makes trading itself safe: you can lose your deposit with any of them.

FXTM’s companies trade under the Exinity name. The one that holds your account depends on where you live.

Company	Regulator	Licence	How sure we are
Exinity Capital East Africa Limited	Capital Markets Authority (CMA), Kenya	135	Listed on the CMA register, read directly
Exinity Limited	FSC, Mauritius	C113012295, investment dealer	Stated on FXTM’s licence page; register not checked
Exinity Limited	FSCA, South Africa	FSP 50320, over-the-counter derivatives provider	Stated on FXTM’s site; register not checked

Kenya

Exinity Capital East Africa Limited is on the CMA’s register under licence 135 as a non-dealing online forex broker. An FXTM FAQ says Kenyan residents are capped at 1:400 leverage, and FXTM’s Kenya page lists bank transfer and mobile money for deposits and withdrawals. Exness (162), HFM (155), IC Markets (199) and XM (233) also have CMA-licensed Kenyan companies. Our Kenya page explains the CMA’s rules.

South Africa

FXTM says Exinity Limited, the same company that holds its Mauritius licence, is authorised by the FSCA as FSP 50320, in the over-the-counter derivatives provider category. That’s a clear statement on FXTM’s own site, but we haven’t confirmed it on the FSCA register. Search for the number there before you deposit. See forex trading in South Africa.

Nigeria and Ghana

None of FXTM’s companies holds a Nigerian or Ghanaian licence. FXTM does offer NGN-denominated accounts to Nigerian residents. We haven’t confirmed which company holds Nigerian accounts, so check the client agreement at sign-up. We found nothing specific to Ghana. Our Nigeria page explains where Nigerian rules on online forex stand.

Accounts and minimum deposit

FXTM’s accounts page lists five account types:

Account	Minimum deposit	Maximum leverage	Notes
Micro	USD 30	1:1000	Balance in cents (USC, EUC, AEC); MT4; no swap-free
Rewards Plus	USD 100 or NGN 137,000	1:5000	NGN for Nigerian residents only
Rewards	USD 200	1:5000
Advantage	USD 500	1:3000	Commission of USD 3.5 per lot on forex
Advantage Stocks	USD 200	1:1	No swap-free

Two points to note. First, FXTM’s payment-options page states a USD 100 minimum first deposit, which conflicts with the USD 30 Micro figure. Check which applies when you register. Second, the Micro account counts your balance in cents, so it lets you trade much smaller positions; see cent accounts.

The naira option matters if you’re in Nigeria. With an NGN account, your balance isn’t converted into dollars each time you deposit and withdraw. It doesn’t change the risk of trading.

Leverage

FXTM describes the leverage on Rewards Plus and Rewards as floating, up to 1:5000. Advantage goes up to 1:3000, Micro up to 1:1000, and Advantage Stocks is 1:1. Kenyan residents are capped at 1:400, according to an FXTM FAQ.

Leverage magnifies losses as much as gains. At 1:5000, a tiny price move against you can close your positions and empty the account. Read leverage and margin explained and use the margin calculator before you choose a setting.

Swap-free (Islamic) status

FXTM’s help pages describe swap-free status like this:

• where it’s offered, you switch it on under Swaps in your profile settings; otherwise you request it through FXTM’s contact form;
• it applies to all the accounts in your profile;
• it isn’t available on Micro or Advantage Stocks;
• each position stays swap-free only for a set number of days.

Instruments	Swap-free days per position
Forex majors, minors and spot metals	3 days by default; 7 at FXTM’s Gold tier and above
Top 5 indices	7 days
Bitcoin and Ethereum	1 day

The day limit is the part to watch. If you hold gold or a currency pair for a week, check what FXTM charges once the swap-free days run out. Our Islamic accounts guide lists the questions to ask. Scholars differ on forex and CFD trading, and whether a swap-free account meets your religious requirements is a question for a qualified scholar.

Platforms and copy trading

FXTM offers MetaTrader 4, MetaTrader 5, the FXTM App and a desktop platform. The Micro account runs on MT4. FXTM’s platforms page doesn’t mention copy trading. Its FXTM Invest page is still online, but we couldn’t tell whether the service still runs after FXTM’s October 2025 service upgrade.

Deposits, withdrawals and fees

• Kenya: FXTM’s Kenya page lists bank transfer and mobile money. It’s worth checking in your account whether M-Pesa is the mobile money option offered.
• Nigeria: naira accounts are available, so a naira deposit needn’t be converted into dollars. We couldn’t confirm the specific Nigerian deposit methods.
• Minimum first deposit: USD 100 on FXTM’s payment-options page, against USD 30 on the Micro account.
• Inactivity fee: 10 USD, EUR or GBP a month once your account has gone 3 months without trading.

FXTM’s contact page lists live chat, phone, WhatsApp and Telegram. Exinity Limited doesn’t serve residents of a list of countries that includes the USA, the UK, India, Iraq and Syria. Nigeria, Kenya, South Africa and Ghana aren’t on it.

How FXTM compares with Exness

Exness is the broker we recommend. Both brokers have CMA-licensed Kenyan companies (FXTM 135, Exness 162), and both state a 1:400 leverage cap for Kenyan clients. FXTM’s naira account is confirmed on its own accounts page; Exness’s help centre also lists NGN among its account currencies, except on Standard Cent. Exness has no account minimum on Standard and Standard Cent, with a USD 10 minimum for naira online bank transfer according to its help centre; FXTM’s smallest account starts at USD 30. FXTM’s swap-free status runs for a set number of days per position, while Exness applies swap-free status to a published list of instruments, and can withdraw it. In FXTM’s favour, its terms were readable directly on its site, while some Exness terms come from help-centre extracts. The forex broker comparison sets FXTM beside Exness, XM, HFM, IC Markets and Octa, and the Exness review has the detail on Exness.

Before you open an FXTM account

1. Read the company name in the client agreement shown at sign-up, and look it up on the regulator’s register.
2. If you’re in Nigeria, choose the account currency carefully before you open the account.
3. If you want swap-free, note the day limit for the instruments you trade.
4. Practise on a demo, then make a small deposit and a small withdrawal before you add more.

How to choose a forex broker explains each check.