FXTM (ForexTime) was founded in 2011 and is headquartered in Cyprus, with a global presence serving over 5 million clients. For Sri Lanka traders, FXTM offers a compelling mix of low costs, high leverage up to 2000:1, and a wide range of trading instruments including forex, gold, oil, indices, and cryptocurrencies. The broker is particularly relevant for Sri Lanka because of its low $10 minimum deposit, making it affordable for retail traders, and its support for local payment methods like Bank Transfer (via local banks in Sri Lanka), Skrill, and USDT. While FXTM is not regulated by the local financial authority in Sri Lanka, its strong global regulation (FCA, CySEC, FSCA, FSC) provides a level of trust. The broker also offers an Islamic account for Muslim traders in Sri Lanka and supports MetaTrader 4 and 5, which are popular among local traders. However, the absence of a local license means traders should be cautious and verify the entity they are trading with. Overall, FXTM is a well-regarded broker that can serve Sri Lanka traders well, especially those comfortable with international brokers.
| Detail | Information |
|---|---|
| Founded | 2011 |
| Headquarters | Cyprus |
| Regulated by | FCA,CySEC,FSCA,FSC |
| Min Deposit | $10 |
| Max Leverage | 2000 |
| Platforms | MT4, MT5 |
| Islamic Account | ✓ Available |
| Copy Trading | ✓ Available |
| Demo Account | ✓ Available |
| Instrument | Typical Spread | Commission/Lot | All-In Cost | Standard Spread |
|---|---|---|---|---|
| EUR/USD | 1.50 pips | $0 | 1.50 pips | 1.50 pips |
| XAU/USD | 0.50 pips | $0 | 0.50 pips | 0.50 pips |
| Feature | Available |
|---|---|
| Demo Account | ✓ Yes |
| ECN/Raw Account | ✓ Yes |
| Islamic (Swap-free) | ✓ Yes |
| Scalping Allowed | ✓ Yes |
| Hedging Allowed | ✓ Yes |
| Expert Advisors (EA) | ✓ Yes |
| Copy Trading | ✓ Yes |
FXTM offers a genuine swap-free Islamic account for Sri Lanka Muslim traders, which complies with Sharia law by not charging or paying overnight interest (swap) on positions. The Islamic account is available for both Standard and ECN account types. To apply, you must contact customer support after registration and request the account conversion. There are no hidden fees, but the account is subject to review and may be limited to certain trading strategies. FXTM states that the Islamic account is genuine and not a marketing gimmick. For Sri Lanka traders who require Sharia-compliant trading, this is a reliable option. However, note that some instruments (like crypto CFDs) may still incur overnight fees even on Islamic accounts, so check the terms. Overall, it's a good choice for Muslim traders in Sri Lanka.
| Feature | Details |
|---|---|
| Islamic Account Available | ✓ Yes |
| Swap Fees | ✓ No swap fees |
| Hidden Admin Fees | Verify with broker before trading |
| How to Apply | Contact support after opening standard account |
| Approval Time | Usually same business day |
| Asset Class | Examples | Available | Typical Spread |
|---|---|---|---|
| Forex Major Pairs | EUR/USD, GBP/USD, USD/JPY | ✓ All available | 1.50 pips |
| Gold (XAU/USD) | Spot Gold | ✓ Available | 0.50 pips |
| Silver (XAG/USD) | Spot Silver | ✓ Available | Check broker |
| Oil CFDs | WTI Crude, Brent Crude | ✓ Available | $0.03–$0.05 |
| Stock Indices | S&P500, NASDAQ, DAX, FTSE | ✓ Available | 0.40 pts |
| Crypto CFDs | BTC, ETH, XRP, SOL | ✓ Available | Check broker |
| Shares CFDs | Apple, Tesla, Amazon | ✓ Available | 0.02% |
| ETF CFDs | SPY, QQQ | ✓ Available | 0.02% |
| Feature | Available | Notes |
|---|---|---|
| Economic Calendar | ✓ Yes | Built into platform, real-time |
| Daily Market Analysis | ✓ Yes | Written + video reports |
| Video Tutorials | ✓ Yes | Beginner to advanced |
| Live Webinars | ✓ Yes | Weekly sessions, recorded |
| Demo Account | ✓ Yes | Unlimited, no expiry |
| Copy Trading | ✓ Yes | Via social trading platform |
| Free VPS | ✓ Yes (active traders) | For EA/automated trading |
| Local Language Support | ✗ No | English only |
| Support Channel | Available | Hours | Rating |
|---|---|---|---|
| Live Chat | ✓ Yes | 24/5 (Mon-Fri) | ★★★★★ Excellent |
| Email Support | ✓ Yes | 24/5 | ★★★★☆ Very Good |
| Phone Support | ✓ Yes | Business hours | ★★★★☆ Good |
| ✗ No | — | Not available | |
| Local Language | ✗ No | — | English only |
| Broker | Min Deposit | EUR/USD | Islamic | TradingView | Score |
|---|---|---|---|---|---|
| FXTM ★ | $10 | 1.50 pips | ✓ | ✗ | 3.7 |
| Pepperstone | $0 | 0.09 pips | ✓ | ✓ | 4.9 |
| IC Markets | $200 | 0.02 pips | ✓ | ✗ | 4.8 |
| Exness | $10 | 0.10 pips | ✓ | ✗ | 4.8 |
Understanding how FXTM protects your funds is critical before depositing. Here's a complete breakdown of the security measures in place for Sri Lanka traders:
| Security Feature | Status | Details |
|---|---|---|
| Segregated Client Funds | ✓ Yes | Client money held in separate bank accounts |
| Negative Balance Protection | ✓ Yes | Losses capped at account balance |
| Top-tier Regulation | ✓ Yes | FCA/ASIC/CySEC licensed |
| Investor Compensation | ✓ Yes | Up to £85,000 (FCA) or €20,000 (CySEC) |
| 2FA Security | ✓ Yes | Two-factor authentication available |
| SSL Encryption | ✓ Yes | All data encrypted in transit |
| Audit & Reporting | ✓ Yes | Regular financial audits required by regulators |
Stay updated with the latest developments from FXTM relevant to Sri Lanka traders:
FXTM is a solid choice for Sri Lanka traders who are comfortable with international brokers and value low costs, high leverage, and a wide range of instruments. Its strong regulatory oversight from FCA and CySEC adds credibility, and the low $10 minimum deposit makes it accessible. The availability of Islamic accounts and local payment methods like Bank Transfer, Skrill, and USDT are significant advantages. However, the lack of local regulation and high leverage (2000:1) are risks that traders should not ignore. FXTM is best suited for experienced retail traders in Sri Lanka who understand forex risks and want a reliable global broker. Beginners should start with a demo account and use low leverage. Overall, FXTM earns a recommendation with caution, and we suggest verifying the entity you are trading with before depositing funds.