The FXTM minimum deposit is:
- 10$ to open a Micro Account;
- $100 to open an Invest Account;
- $500 to open an Advantage Account;
- $500 to open an Advantage Plus Account.
The minimum deposit requested by FXTM depends on the account type chosen.
FXTM does not charge any deposit or withdrawal fee.
Below, all the info you should know about the FXTM Minimum Deposit.
Table of Content
|Features||FXTM Minimum Deposit|
|FXTM Micro Account||$10|
|FXTM Advantage Account||$500|
|FXTM Advantage Plus Account||$500|
|FXTM Invest Account||$100|
|FXTM Islamic Account||$10/$500/$500 depending on which account you choose|
|Base Currencies||USD, EUR, GBP, NGN|
Here’s a detailed guide about FXTM account types for you to give a look should you want to find more about the offer of the broker.
Visit FXTM (81% of retail CFD accounts lose money).
FXTM Account Base Currency
An important point to note right away is that FXTM is not available in the USA at all. Aside from that, the base currency, or the currencies that you can trade are the same all around the world.
The three currencies that are available worldwide are
If you happen to be a Nigerian trader, this is where the only exception also exists. You can be facilitated to trade with NGN as your base currency.
FXTM Funding Methods
As a top forex broker with traders from all around the world, there are a variety of funding methods available to FXTM traders as you would expect. Here we will chart all of these methods and the key features of each:
FXTM allows bank transfer deposits.
In Italy and Europe, wire transfers are available in USD, EUR and GBP, with no fees charged by FXTM. Anyway, you should contact and check with your bank in any case, as they may charge you a fee.
The processing time requested by FXTM for bank transfer deposits takes from 3 to 5 business days.
FXTM credit card deposits are widely accepted and available all over the globe. Payments in the form of Visa, Mastercard, and Maestro are all accepted. The minimum deposit with FXTM in these cases is 5 $/€/£ depending on your location and choice of base currency.
When it comes to the processing time, this is usually instant in most parts of the world. It can take up to 2 hours within Europe, and there are no FXTM commission charges to worry about at all.
Another FXTM deposit method which is available and widely utilized is Skrill. This method is available worldwide and facilitates deposit in USD, EUR, or GBP depending on your preference and requirements. PLN and CZK are also accepted.
Again through this method, no minimum deposit applied and there is also a 2-hour processing period if you are located within Europe. The service is also available if you are residing in South America though only USD are accepted from this location and the processing time increased to 1-2 days.
Another popular eWallet deposit option available is Neteller. Again this method is available worldwide facilitating deposit in USD, EUR, GBP, INR, PLN, and NGN. There is an FXTM minimum deposit amount of 5 €/$/£; 20 PLN, 400 INR, or 1000 NGN.
The processing time for this deposit method is 2 hours within Europe and instant for the rest of the world.
FXTM cryptocurrency deposits are available though this applies outside Europe only. Deposit can be made with Bitcoin, Litecoin, Dash, or Ethereum and there are no FXTM commission fees. The process can take up to 24-hours to complete.
There are of course other FXTM deposit methods available where required. These tend to be more localized and will vary with your location. Typically the prime method among these is a local bank transfer. These are particularly common within some Asian and Eastern countries. Nigeria, Indonesia, Thailand, Malaysia, and Pakistan are among the countries which are accepted for this type of deposit which can be completed within 1 business day and with no FXTM commission.
With dozens more minor methods available depending on the place, the final major method to mention is Perfect Money which is available again with no minimum deposit and an instant processing time in USD and EUR.
How to fund your FXTM account: steps by steps tutorial
Here’s the following steps to follow when opening and funding an account with FXTM:
- Visit the FXTM’s website (81% of retail CFD accounts lose money). From here you can choose between a demo and a live account. The demo is a better fit for beginners, while the live account is a better fit for traders who have at least a basic knowledge of trading. Many brokers offer top demo accounts, as we pointed out in the best forex demo account top ten.
- When opening a live account, you need to upload your passport or ID to prove your identity, and a utility bill or bank statement to prove your residence. In this way FXTM can verify your account. Depending on your location, the broker may also request you a questionnaire to check your trading knowledge.
- Wait for your account to be verified, then make the deposit. As mentioned, the minimum deposit depends on the account type you choose.
- After FXTM processes your deposit, you can engage in trading. You can also withdraw anytime you want.
FXTM Minimum Deposit vs Other Brokers
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money
|Minimum Deposit||$100||$5||$0 ($200 recommended)|
|Number of deposit methods||20+||6||9|
|Account currencies||USD, GBP, EUR, NGN||USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR||AUD, USD, JPY, GBP, EUR, CAD, CHF, NZD, SGD, HKD|
Unfortunately, within Europe, due to ESMA regulations, no FXTM bonus is made available to Europe based or EU regulated traders.
Under the global entity, you may find bonuses and promotions from time to time, as well as a FXTM loyalty cashback, where clients will get $5 back in cash every time they trade, and have the possibility to earn up to $10,000.
About The Author