Founded in 2011 and headquartered in Cyprus, FXTM (ForexTime) has grown into one of the world's most recognized forex brokers, serving over 5 million clients globally. For Turkmenistan traders, FXTM offers a compelling mix of low costs, high leverage up to 1:2000, and multiple account types suitable for both beginners and professionals. The broker supports local payment methods like Bank Transfer, Skrill, and USDT (Tether), making deposits and withdrawals convenient despite the country's limited banking infrastructure. FXTM also provides an Islamic (swap-free) account, which is important for Turkmenistan's predominantly Muslim population. While the broker is not regulated locally, its international licenses from FCA, CySEC, FSCA, and FSC offer a decent level of security. With a minimum deposit of just $10, FXTM is accessible for retail traders in Turkmenistan looking to start forex trading without a large capital outlay. The broker's educational resources and copy trading features further enhance its appeal for traders at all levels.
| 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 Islamic (swap-free) account that complies with Sharia law by eliminating overnight interest charges on positions. This is particularly important for Muslim traders in Turkmenistan who wish to trade without violating their religious principles. The account is available on all account types (Standard, ECN, Zero Spread) and can be requested during registration or by contacting customer support after account opening. There are no hidden fees, but if you hold positions for an extended period (e.g., more than 10 days), the broker may charge an administrative fee. The swap-free status applies to all forex pairs, metals, and indices, but may not apply to cryptocurrencies. To apply, simply select 'Islamic Account' during registration or submit a request via the client portal.
| 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 Turkmenistan 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 Turkmenistan traders:
FXTM is a solid choice for Turkmenistan traders who are looking for a low-cost, accessible forex broker with a long track record. The ability to deposit via USDT is a major advantage given the country's banking limitations, and the Islamic account caters to the majority Muslim population. The broker's regulation by multiple reputable authorities provides a reasonable level of safety, though the absence of local regulation is a risk that traders must accept. FXTM is best suited for retail traders who want to start with a small deposit, use high leverage, and have access to MT4/MT5. Experienced traders will appreciate the tight spreads on ECN accounts. However, if you prioritize local regulation or Turkmen language support, you may need to consider alternative brokers. Overall, FXTM is recommended for Turkmenistan traders who understand international trading risks and want a reliable, globally recognized broker.