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4.27
/ 5
Accepts Malaysian Clients. Minimum spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Islamic account available. MT4 & MT5 platforms supported. Leverage offered can vary depending on country of residence, and your trading knowledge and experience. FXTM is regulated by CySEC, FCA, FSCA, and the FSC.
75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. We may receive compensation when you click on links to products we review. Please read our advertising disclosure. By using this website, you agree to our Terms of Service.
FXTM will be a good choice for many beginner Malaysian traders. It offers a low-deposit Micro Account, an excellent copy trading platform, and provides a variety of learning materials in both video and written formats. Its daily market analysis will also help beginners understand the real-world implications of news events on the Forex market and where trading opportunities lie.
Our main concern is that FXTM’s Malaysian clients are onboarded through FXTM’s Mauritius-based entity, regulated by the FSC, which provides little regulatory oversight. We were also disappointed to find that FXTM’s trading costs are higher than other brokers and that it charges fees for all withdrawals. The range of instruments is also quite limited compared to other brokers operating in Malaysia.
Overall, FXTM has many positive features, especially for beginners, but more experienced traders may find FXTM’s limitations difficult to overlook.
| 🏦 Min. Deposit | USD 10 |
| 🛡️ Regulated By | CySEC, FCA, FSC |
| 💵 Trading Cost | USD 15 |
| ⚖️ Max. Leverage | 2000:1 |
| 💹 Copy Trading | Yes |
| 🖥️ Platforms | MT4, MT5 |
| 💱 Instruments | Commodities, Stock CFDs, Forex, Indices, Metals |
Yes, FXTM is a safe broker for Malaysian traders to trade with, but it does not offer automatic negative balance protection. `
FSC Regulation: Malaysian traders will be trading under the FSC of Mauritius, which handles most of FXTM’s international business outside of Europe. The FSC’s rules are not as strict as regulators of the EU or UK, and Malaysians will have little recourse in the event of a dispute with FXTM. However, it ensures that FXTM segregates its client funds from its operational funds. It also means that FXTM can offer its Malaysian clients higher leverage (of up to 2000:1).
Traders from Malaysia can take comfort in the fact that FXTM has a good reputation, and its UK and European subsidiaries are regulated by some of the world’s best authorities.
Safety Features: As mandated by the FSC, FXTM segregates all funds from the company’s operating capital at top-tier banks and will not use client funds in its operation or any other investment. But we were disappointed that negative balance protection is only available on a discretionary basis, and requests are evaluated case by case.
We confirmed each of the licences and regulations on the regulator’s online register. See below for details of FXTM’s FSC regulated entity. Note that FXTM’s Mauritius-based entity goes by the name of Exinity Limited:
Company Details:
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Website Year Founded Office Locations Non-Trading Fees
FXTM’s range of trading instruments is poor compared to many of its competitors, and it has no cryptocurrencies to trade at all, but leverage of up to 2000:1 is available on major Forex pairs.
In our review of FXTM, we found that it offers a disappointing range of financial assets compared to other similar brokers. This holds true for its stock CFDs and commodities on offer. It also lacks other popular products such as cryptocurrencies, futures, bonds, and ETFs.
High leverage: FXTM offers some of the highest leverage in the industry, up to 2000:1 on major Forex pairs. Traders should be careful when trading with such high leverage, especially on accounts with low minimum deposits, as it could lead to an account wipeout or even a negative balance.
Scroll for more details Financial Instrument Number of Assets Leverage Commodities3200:1Stock CFDs900500:1Forex622000:1 Limited to 1000:1 on the Micro AccountIndices23500:1Metals15500:1
Overall, we found that FXTM’s range and depth of trading instruments are limited compared to many other brokers.
FXTM offers three accounts, which is average compared to other brokers, but we were disappointed that FXTM’s trading fees are higher than other brokers on two of its three accounts.
Trading Fees: Our review found that FXTM offers three live account types, with trading costs that vary depending on the account type chosen by a trader. Trading costs are higher than average on its commission-free Micro and Advantage Plus accounts, with spreads of 1.5 pips (EUR/USD), but significantly lower on its Advantage Account.
Account Trading Costs:
Scroll for more details Trading account Min. Deposit Min. Spread EUR/USD Commission Trading Cost (USD) AdvantageUSD 5000.20Average of $0.40 - $2 based on volume6Advantage PlusUSD 5001.50Spread Only15Micro AccountUSD 101.50Spread Only15
We opened and tested all FXTM’s accounts:
FXTM has a wide variety of deposit and withdrawal methods for Malaysian traders, but we were disappointed that it charges high withdrawal fees.
Like other well-regulated brokers, FXTM does not allow funding to or from third parties. No matter your deposit method, the withdrawal of all profits must be made by bank transfer to a bank account in your name.
Accepted Deposit Currencies: Malaysians will be disappointed that FXTM only allows trading accounts to be denominated in EUR, USD, GBP, and NGN. Because we were depositing funds from a Malaysian bank account based in MYR into a USD-based account, we were charged a currency conversion fee on both our deposit and our withdrawal.
Funding methods: We were pleased to note that FXTM offers a large number of deposit and withdrawal methods. No fees are charged for deposits, and FXTM even reimburses its clients for any fees incurred during the deposit process, but unfortunately, fees are charged on all withdrawal methods.
See below for a list of payment options:
Overall, FXTM provides various payment methods, and its processing times are quicker than other similar brokers. We were disappointed that fees are charged on most withdrawal types.
FXTM also has its own trading app that integrates well with MT4, but we were disappointed that it does not support MT5 or investment accounts.
MT4, MT5, and the FXTM mobile apps are available on both Android and iOS. We downloaded and tested them on an iOS device.
FXTM Trader App
User-friendly: FXTM has developed its mobile trading platform, the FXTM Trader app. We found that the app was very easy to set up and use. It also uses a biometric login, which is convenient. We found it easy to search for and monitor our assets and trades:
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Account Management: Another benefit of using the app is that you can easily deposit, withdraw and keep track of your funds. The app has a great drop-down menu, with options for education and market analysis, making it a good resource:
Overall, we liked how user-friendly the app is, and its simple design will appeal to beginner traders.
MT4/MT5
We found that there was some loss in functionality when compared to the desktop trading platforms, including reduced time frames and fewer charting options, but we were able to close and modify existing orders, calculate profit and loss, and trade on the charts.
However, unlike the desktop version of the platform, the design is clean, and it is easy to use. Additionally, the search functionality is far superior – you can search for products easily by typing the name of the product or by navigating the category folders.
With both MT4 and MT5 on offer, in addition to its proprietary FXTM Trader app, we found that FXTM’s platform support is better than other Forex brokers. FXTM also has one of the best copy trading platforms in the industry.
We rigorously tested the MT4 trading platform. See below for more details:
We found that FXTM offers the standard version of MT4 plus six add-ons, transforming MT4 into a state-of-the-art trading platform. Most brokers only provide the out-of-the-box version, which does not provide all the necessary functionality.
As you can see below, FXTM’s MT4 trading platform looks slightly outdated, but it is highly customisable. There are also three chart types, including Line, Bar, and Candlestick charts, and you can access a wide selection of indicators in multiple timeframes:
MT5, the newer version of its predecessor, MT4, is also available at FXTM. We recommend using MT5 if you are looking for a more powerful and faster trading platform when it comes to back-testing functionality for automated trading algorithms. Additionally, traders prefer MT5 for its depth of market display, additional technical indicators, and analytical tools.
The benefit of FXTM offering third-party platforms such as MT4 and MT5 is that traders can use the platforms should they choose to migrate to another broker. However, MT4 and MT5 are often not as user-friendly as platforms that are developed in-house.
We were impressed with FXTM’s well-designed copy trading system; beginner traders without the expertise and skills for profitable trading may find it particularly useful.
FXTM Invest allows investors to choose a strategy manager from a list of top-rated traders. Once an investor makes a minimum deposit of 100 USD/GBP/EUR, the Investor account will be activated, and clients can then copy the trades of the strategy managers. With this system, investors can follow suitable strategies and receive a portion of the profits, and Strategy Managers can earn extra money by generating profits for their investors. At the time of writing, there are over 600 strategy managers to choose from, so there is plenty of choice.
Platform Overview
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We found that opening a trading account at FXTM took less than 24 hours and that it was easy to upload our documents.
We tested the account opening process, which took approximately 10 minutes to complete, and once our documentation had been submitted, our accounts were ready for trading within about 24 hours.
As a Malaysian trader, you are eligible to open an account at FXTM as long as you meet the following minimum deposit requirements:
How to open an account at FXTM:
We advise you to read FXTM’s risk disclosure, customer agreement, and terms of business before you start trading.
The market analysis section at FXTM is comprehensive, frequently updated, and very useful for traders of all experience levels. FXTM also offers a good range of trading tools to help traders make better decisions.
We were impressed with the variety of market research at FXTM, available in several locations:
FXTM’s trading tools include various sentiment indicators, technical indicators, a currency converter, a profit calculator, MT4 trading indicators, and a VPS service.
Overall, we enjoyed FXTM’s market analysis – it is clear that it is written by Forex experts. It is full of detail and interesting leads for new trading opportunities. We were also impressed by FXTM’s range of useful trading tools.
Trading Tools Comparison:
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We found the education section at FXTM is large, well-structured, in-depth, and more useful for beginners than the material available at other brokers. FXTM also provides traders with a free demo account to practice trading risk-free.
Our review noted that FXTM has a world-class education section available for free in 22 languages. Additionally, FXTM is one of the few brokers with weekend support, which is helpful for beginner or part-time traders. See below for details on FXTM’s educational section:
Education Comparison:
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With weekend support, we found that FXTM’s customer support is excellent compared to other similar brokers.
Support is available Monday to Friday: 24 hours, Saturday: 11:00-16:00, and Sunday: 12:00-20:00 (GMT+2/GMT+3 during Daylight Saving Time) in over 22 languages, including Malay, via email, live chat, email, telephone, and messenger services (including Whatsapp, Viber, and Telegram).
For the purposes of the review, we tested the live chat service. We found the live chat agents were able to answer all our questions quickly and to our satisfaction. They also provided links and extra reading material where appropriate.
After logging into the live chat, we were connected to an agent who replied to our message immediately, as shown below:
FXTM in their own words
Regulation: FXTM maintains regulation from a number of top-tier regulators, including CySEC of Cyprus, the FCA of the UK. It also maintains regulation from the FSC of Mauritius, through which global traders are onboarded:
Awards
FXTM has won multiple international awards from the wider industry, further burnishing its credentials as a secure broker. Recent awards include:
We value transparency and openness in the way we review the partners. To bring transparency to the forefront, we have published our review process. Central to that process is the evaluation of the broker’s reliability, the broker’s platform offering, and the trading conditions offered to clients, which are summarised in this review.
Each one of these is graded on 200+ metrics across seven areas of interest, and an overall score is calculated and assigned to the broker according to the diagram below:
Trading Forex is risky, and each broker is required to detail how risky the trading of Forex CFDs is to clients. FXTM would like you to know that: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXTM is a good all round broker, but it does have some limitations. Firstly, Malaysian traders may be concerned about the lack of regulatory oversight and their lack of options in the event of a dispute with FXTM. Secondly, traders may be disappointed in the relatively small number of financial assets available for trading. Finally, FXTM charges high non-trading fees, including commissions for withdrawals.
That said, both MT4 and MT5 are supported in addition to the FXTM Trading app and a wide range of trading tools. It also offers a world-class selection of educational and market analysis materials and an excellent copy trading platform to get new traders started. Additionally, its customer support is available 24/7, in Malay, which is exceptional in an industry where the norm is 24/5.
Find out how FXTM stacks up against other brokers.
Accepts Malaysian Clients. Minimum spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Islamic account available. MT4 & MT5 platforms supported. Leverage offered can vary depending on country of residence, and your trading knowledge and experience. FXTM is regulated by CySEC, FCA, FSCA, and the FSC.
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Can’t do withdrawal after 3 days ago i do deposit in FXTM. At 1st day balance deposit is shown in account and can do trading.
But after 3 days, i can’t process withdraw capital. Ask FXTM csvs informed my deposit slip i upload 3 days ago for verification still pending without any reason or reply. As result i can’t withdraw. I not sure what can i do in order to do withdrawal.