FXTM (ForexTime) — review & details
Tanzanian clients are served by Exinity Limited, licensed by the Financial Services Commission of Mauritius, not by any Tanzanian regulator. The same group holds an FSCA licence in South Africa, which is unusual on-continent regulatory visibility, but it gives a Tanzanian client no local recourse.
FXTM (ForexTime)
★★★★☆
Exinity Limited, Financial Services Commission of Mauritius (Investment Dealer C113012295); group also holds FSCA South Africa FSP 50320. No Tanzanian licence.
Regulator (Local Clients)
Not verified in this research - check whether TZS funding or mobile money is offered before you open an account.
Local Currency Support
Web and mobile trading platforms; the exact platform list was not read during this research.
Platforms
Tanzanians who want the covering entity and its licence number stated plainly so they can check it themselves.
Best For
forex
Type
Pros
- The covering entity is named openly as Exinity Limited with a Mauritius FSC investment dealer licence number you can look up.
- The same group holds a South African FSCA licence (FSP 50320), a rarer on-continent regulatory footprint than most offshore brokers can show.
- FXTM publishes an explicit list of jurisdictions it will not serve, and Tanzania is not on it.
Cons
- Most retail investors lose money trading leveraged CFDs; treat any advertised return or success story with scepticism.
- A Mauritius FSC licence offers limited protection to a Tanzanian client - there is no local ombudsman, deposit guarantee or compensation scheme you can turn to.
- Tanzania's CMSA does not license retail forex or CFD dealers, so any dispute would have to be pursued offshore, in another jurisdiction, at your own cost.
Fees, eligibility & documents
Fees
Spreads and commissionsNot verified in this research; compare the live account types on FXTM's own site before opening an account.
Deposit and withdrawal chargesNot verified; payment-method costs and currency conversion are often the largest real cost for African clients.
Eligibility
- Aged 18 or over and resident in a country Exinity Limited serves - Tanzania is not on its published exclusion list.
- Able to complete identity and address verification to the broker's standard.
- Able to fund an offshore account from Tanzania, which in practice may mean a card or e-wallet rather than a local bank transfer.
Documents needed
- Government-issued photo ID (passport, national ID or driving licence)
- Recent proof of address
- Proof of ownership of the payment method used to fund the account, if requested
How FXTM (ForexTime) compares in forex & cfd brokers
| FXTM (ForexTime) | Tickmill | |
|---|---|---|
| Regulator (Local Clients) | Exinity Limited, Financial Services Commission of Mauritius (Investment Dealer C113012295); group also holds FSCA South Africa FSP 50320. No Tanzanian licence. | Tickmill Ltd, Financial Services Authority of Seychelles (SD008). Group entities under FCA UK (717270), CySEC (278/15) and FSCA South Africa (49464) do not cover Tanzanian clients. |
| Local Currency Support | Not verified in this research - check whether TZS funding or mobile money is offered before you open an account. | Not verified in this research - check funding options for TZS or mobile money before opening an account. |
| Platforms | Web and mobile trading platforms; the exact platform list was not read during this research. | Margin trading on the group's platforms; the exact platform list was not read during this research. |
| Best For | Tanzanians who want the covering entity and its licence number stated plainly so they can check it themselves. | Traders who want a broker group with a genuine tier-one licence somewhere in it, while understanding their own account sits offshore. |
| Visit FXTM → | Visit Tickmill → |
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