FXTM Nigeria Review
For Nigerian Traders
Its difficult opening an account as the wait time is long, every step of the pricess they tell you to wait 24 hours liike really? I had to move to another broker
FXTM is a regulated broker that offers ECN Pricing on its MT4/5 Platforms
| 👨 Broker | Exinity |
| 👨 Trading Name | FXTM |
| 👨 Accepts Nigerian Traders | Yes |
| 📅 Year Founded | 2011 |
| ⚖ Regulators | FSC Mauritius |
| 📈 CFD Instruments | Forex, Commodities, Indices, Shares, ETFs |
| 🚀Leverage | 1:3000 |
| 🔎Auditors | - |
| 💻 Platforms | MT4, MT5, FXTM Trader |
| 📋Account Types | Advantage, Advantage Plus |
| 💰 Minimum Deposit | $200 |
| 💱Base Currency | NGN, USD |
| 📞Live Support | 24/5 |
| 🏖️ Inactivity Fee | $10 |
| ✅Reason To Trade | Naira CFDs, Naira base currency |
| ❌Reason To Avoid | High minimum deposit, Average trading platforms, Withdrawal fees, Unreliable customer support |
Is FXTM Still Working in Nigeria?
No, FXTM was blacklisted by Nigerian authorities so their websites were blocked. FXTM apps were also blocked from online stores so you cannot download their apps.
Why Was FXTM Blacklisted in Nigeria?
In 2024, the Nigerian government ordered the National Communications Commission (NCC) to block access to FXTM website and also block access to FXTM mobile app on Google & Apple Stores.
The reason for the blacklisting of FXTM in Nigeria was because the Nigerian government suspected FXTM was enabling speculation on the Naira through offering CFDs like EUR/NGN & USD/NGN.