FXTM Review: What South African Traders Should Know
FXTM is a long-operating broker run under the Exinity group. This page covers what we’ve verified directly, including its South African FSCA licence, and is honest about the details we’re still confirming for the deeper account-level review.
Is FXTM Actually Regulated for South Africans?
We don’t take “FSCA regulated” at face value from any broker’s marketing. Here’s what we checked for FXTM specifically, and how you can check it yourself in a couple of minutes.
Situation 1: FSCA-Authorised South African Entity
FXTM’s South African operations are authorised by the Financial Sector Conduct Authority under FSP number 46614. That means there’s a South African-authorised entity behind FXTM’s local operations, rather than South African clients only being serviced through an offshore arrangement with no local licence. We haven’t yet independently pinned down the exact registered company name behind this FSP number, which is a detail we’re completing for the full account-level review.
We’d encourage you to check this yourself rather than take our word for it: search FSP number 46614 on the FSCA’s public register at fsca.co.za. The register listing will show you the exact registered entity name and confirm the licence is active, both worth seeing for yourself before you fund an account.
Other Group Licences
FXTM operates under the Exinity group, whose regional entities are reported to hold licences across Mauritius (FSC), Cyprus (CySEC), the UK (FCA) and Kenya (CMA), among others. These cover FXTM’s other regional entities, not necessarily the South African one, which is exactly why a group-wide licence count doesn’t tell you what you need to know about the entity you’d actually be contracting with in South Africa specifically.
What We’re Still Confirming
The exact registered name of the South African entity, account types, current trading conditions and any South Africa-specific restrictions are all part of our deeper, account-level review, which we’re completing separately. The FSP number above is confirmed; the entity name and day-to-day trading conditions are what we’re still working through.
What You’ll Actually Trade On
FXTM supports both MetaTrader platforms, plus its own mobile app for managing accounts on the move.
MetaTrader 4
The older and still widely used of the two MetaTrader platforms. Known for stability, a large library of custom indicators and expert advisors, and broad familiarity among traders who’ve used it for years across other brokers.
MetaTrader 5
The newer MetaTrader platform, with more built-in timeframes, order types and a broader range of tradable asset classes in one terminal. Worth choosing if you’re starting fresh rather than migrating an existing MT4 setup.
FXTM Trader App
FXTM’s own mobile app, for monitoring balances and open positions, managing funding, and trading on the move alongside whichever desktop platform you use.
How FXTM Structures Its Accounts
FXTM’s core lineup centres on a Micro account for smaller trade sizes, and ECN-style Advantage and Advantage Plus accounts for more active traders.
Micro
Positioned around smaller lot sizes and a lower starting deposit, aimed at traders who want to begin with less capital or finer position sizing.
Advantage
An ECN-style account, reported to pair tighter spreads with a separate commission per trade rather than a spread markup.
Advantage Plus
Sits above Advantage, aimed at more active or higher-volume traders, again on the ECN-style spread-plus-commission model.
Funding Your Account From South Africa
FXTM is reported to support region-specific payment options alongside standard cards and bank transfer, though we haven’t independently confirmed exactly what applies to South African clients specifically.
Deposits & Withdrawals
FXTM is reported to support bank cards, bank transfer and e-wallets generally, with specific options varying by region. We haven’t independently confirmed the specific South African payment methods or processing times, so we’d rather point you to check this directly during sign-up than guess.
Exchange Control
Trading through a broker based outside South Africa involves moving funds offshore, which falls under South African exchange control rules. This isn’t personal financial or tax advice. If you’re unsure how these rules apply to your situation, a licensed advisor can walk you through it properly.
Where FXTM Holds Up, and Where to Look Closer
Based on what we’ve verified so far. This isn’t a numeric score, and it will get more specific once our full account-level review is published.
Working In Its Favour
- A confirmed South African FSCA licence (FSP 46614), not just an offshore arrangement.
- Long operating history, trading since 2011.
- A broad regulatory footprint across several other jurisdictions, including Mauritius, Cyprus and the UK.
- Both MetaTrader 4 and MetaTrader 5 supported, plus a dedicated mobile app.
- Multiple account tiers, from a lower-capital Micro account through to ECN-style accounts.
Worth Confirming Yourself
- The exact registered name of the South African entity behind FSP 46614, which we haven’t independently pinned down yet.
- Exact current spreads, commissions and leverage caps per account, which change over time.
- Which specific local payment methods and processing times apply to South African clients right now.
FXTM Review: Frequently Asked Questions
Is FXTM regulated in South Africa?
Is FXTM a scam?
What trading platforms does FXTM offer?
What account types does FXTM offer?
Is Exness or FXTM better for South African traders?
Still Deciding? See Our Recommended Broker
Of the brokers we’ve reviewed so far, Exness is the one our team recommends first, on the strength of its confirmed FSCA-authorised entity, platform range and long operating history.
Forex and CFD trading carries significant risk, and leverage can amplify losses as well as gains. Broker Verdict may receive compensation when you sign up through this link. This does not change how we evaluate brokers. See our affiliate disclosure and full risk disclaimer.
Written by the Broker Verdict Team. The South African FSP number was supplied by FXTM’s affiliate programme; the exact registered entity name behind it is still being confirmed independently. Trading conditions (spreads, leverage, minimum deposits) change and are not republished here as fixed figures. Read our full review methodology. Page last reviewed: August 2026.