Broker comparison · Checked 25 Oct 2026
XM vs FXTM: licences in Kenya and South Africa
Two long-running brokers with CMA licences in Kenya and a presence in South Africa.
XM vs FXTM at a glance
| XM | FXTM | |
|---|---|---|
| 🇰🇪 Kenya (CMA) | 233TPXMGLOBAL Kenya Limited | 135Exinity Capital East Africa Limited |
| 🇿🇦 South Africa (FSCA) | FSP 49976XM ZA (Pty) LtdXM ZA is an intermediary and not the counterparty to your trades. The CFDs are issued by XM Global Limited, regulated in Belize. | FSP 46614FXTM (South Africa)Forextime Ltd shows "Application withdrawn" on the FSCA list of OTC derivative providers, while Exinity Limited, another FXTM group company, is approved there as a foreign ODP (checked 29 Oct 2026). Check which company issues your CFDs. |
| M-Pesa (Kenya) | Yes | Not confirmed |
| Also regulated by | — | — |
| Full review | XM review → | FXTM review → |
Licence data from the CMA register and the FSCA FAIS register. Always confirm on the regulator's own site before you deposit.
Which should you choose?
In Kenya, both XM and FXTM hold CMA licences, so the choice comes down to costs, platform and deposit methods. Open your account with the local company shown below.
In South Africa, both XM and FXTM hold FSCA licences, so the choice comes down to costs, platform and deposit methods. Open your account with the local company shown below.
Buttons appear only where the broker holds a local licence. Some links are affiliate links; see our disclosure. Our real-money tests of fees and withdrawal times will be added to this page.
Questions people ask
Is XM or FXTM regulated in Kenya?
In Kenya, both XM and FXTM hold CMA licences, so the choice comes down to costs, platform and deposit methods. Open your account with the local company shown below.
Is XM or FXTM regulated in South Africa?
In South Africa, both XM and FXTM hold FSCA licences, so the choice comes down to costs, platform and deposit methods. Open your account with the local company shown below.
Which is safer, XM or FXTM?
Safety starts with the licence in your own country: a CMA licence in Kenya or an FSCA licence in South Africa gives you a local regulator to complain to. Neither licence protects you from trading losses; most retail CFD accounts lose money.