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FXTM official: New platform targets traders with limited funds | Regulatory discussions with SEC ongoing

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Adaeze Uzochukwu, specialist in education and media at FXTM

FXTM (Forex Time), a global online trading platform, has confirmed ongoing engagements with the Securities and Exchange Commission (SEC) on the development of a regulatory framework for forex trading.

Speaking at a media roundtable in Lagos on Tuesday, Adaeze Uzochukwu, specialist in education and media at FXTM, said the firm and a union of forex trading organisations are currently working with the SEC on the issue.

She said FXTM’s 11-year operations in Nigeria have been based only on foreign licences and a Corporate Affairs Commission (CAC) registration.

“We are currently working with the SEC to get those certifications. There’s been a push back, but recently, they’re opening their arms again, open to the conversations, and we’ve been having the conversations,” she stated.

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Regarding the impact on the industry, Uzochukwu cited a 2024 clampdown in which the websites of brokers with ‘FX’ in their company names were taken down.

“… this was because somebody said something. We were included because our name is FXTM. But it was sorted out after everything,” she said.

NEW FXTM PLATFORM TARGETS TRADERS WITH LIMITED FUNDS

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Nonetheless, FXTM has continued to expand its operations with new products.

The platform recently launched the FXTM Edge, a mobile-first platform designed to attract traders with limited funds.

“A minimum deposit of $50 is required to trade on the platform, compared to the previous $200 for the entry point,” Uzochukwu said.

“Everybody is our target: whether you are a student, a nine-to-fiver, a medical professional, or a businessperson, so long as you are interested in trading and making extra money, you can start with just $50.”

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She said the platform is also suitable for seasoned traders who wish to test trading strategies on smaller accounts before scaling up to larger investments.

Uzochukwu also noted that FXTM Edge was designed to educate traders, enabling them to build the confidence needed to participate in the global market.

The SEC recently outlawed unregistered operations of digital asset exchanges and online foreign exchange (FX) trading platforms under the new Investments and Securities Act (ISA) 2025.

“By virtue of this Act, it is an offence in Nigeria for any entity that is not registered by the Commission to carry out the business of online foreign exchange trading platforms or related services,” SEC had said.

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Signed into law by President Bola Tinubu in March, the SEC said the legislation aims to strengthen Nigeria’s capital market and adapt it to the evolving digital finance landscape.

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