Trading with FXTM? The first thing you will need to check out is our FXTM review.
Once you have done this, you will be ready to take a deeper dive into the FXTM features and options. These include all of the FXTM account types and how they are funded.
This is exactly what we have prepared in the following information. Here you can learn all about the FXTM minimum deposit, how to fund your account, and how both of these things impact your trading depending on your area.
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 in this field are the USD, EUR, and GBP, all available worldwide. 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.
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 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 USD/EUR/GBP 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 applies and there is also a 2-hour processing period if you are located within Europe. Through this deposit method though, a fee of 3.9% commission is applied to deposits.
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 USD, EUR, or GBP; 20 PLN, 400 INR, or 1000 NGN and a commission of 3.9%.
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 Western Union which is available again with no minimum deposit and a processing time of 1-2 days in USD only.
FXTM Minimum Deposits
Having taken a look at the variety of funding methods, let’s look in more detail at the FXTM minimum deposits as they apply to the various account types.
These minimum deposits are the same all around the world, and every account which you are about to see mentioned is also available to have an Islamic account where needed.
The FXTM Standard account type is the regular account type used by a lot of the brokers retail traders. This account has a minimum FXTM deposit of 100 USD/EUR/GBP or 40,000 NGN depending on your base currency and location.
The FXTM Cent account as you can likely tell from the name is available to trade small amounts of money with and is ideal for new FXTM traders looking to gain some top forex broker experience.
This account type has a suitably low minimum deposit amount of 10 USD/EUR/GBP or 2,000 NGN.
This special type of FXTM account, the FXTM Shares account facilitates trading in a variety of global shares in major companies around the world traded as CFDs. Unfortunately here there is no demo account available but the live share trading account can be opened with an FXTM minimum deposit of 100 USD/EUR/GBP or 40,000 NGN.
The FXTM ECN account, of course, offers fast and efficient ECN order execution at very competitive rates. What it also offers is account opening with a minimum FXTM deposit of 500 USD/EUR/GBP or 80,000 NGN depending on your location as a trader.
An FXTM Zero account will again offer you the same ECN style execution, though this time with a slightly lower minimum deposit of 200 USD/EUR/GBP but the same in NGN at 80,000.
Coming close to the end of the many account choices at FXTM we have the FXTM Pro account. Here again you will have no access to a demo account, though at this level it may be thought of as not required. The ECN execution style is again in place, with a minimum deposit of 25,000 USD/EUR/GBP, or 5 million NGN.
With the hefty minimum deposit mentioned above, it is worth giving more information on the FXTM Pro account.
In order to qualify for this account which has benefits in the for of leverage up to 1:200, protection from ESMA laws and restrictive regulations, and a lower margin when compared with other accounts, you must demonstrate at least 2 of the following 3 requirements:
- Possess an average of 10 significantly sized trades per quarter across the previous 4 quarters.
- A portfolio value of more than 500,000 Euros or equivalent.
- More than 1 year working in the financial sector with a strong knowledge of leveraged products.
If two of these conditions are met, then you are eligible to open an FXTM Pro account upon application review.
Unfortunately, within Europe, due to ESMA regulations, no FXTM bonus is made available to Europe based or EU regulated traders.
30% deposit bonus
Outside the EU area though, there is currently a bonus amount being offered by FXTM. This amounts to a 30% FXTM deposit bonus up to $300 where the deposit should be at least $100. This FXTM bonus remains valid until November 30th, 2019.