FXTM account types

FXTM is a Forex, CFD and equity broker offering its services around the world. It was founded in 2011 by Andrey Dashin, an investor well known in the industry as he is the owner of Alpari.

FXTM's trading platform offerings are limited to Metatrader 4 (MT4) and Metatrader 5 (MT5). However, the broker does offer a variety of account types. There are six account types in total, with different trading conditions depending on the account type. You will be able to trade Forex currency pairs, indices, stocks, metals and crypto money.

Through its various branches, FXTM has obtained numerous licenses. The broker is regulated in Europe by FCA and CySEC. It is also regulated in Mauritius. This is a pledge of confidence for its customers.

If you are looking for a safe broker to trade Forex and possibly buy shares, FXTM is the right candidate.

Account Opening

FXTM offers six types of accounts. Whatever your trading profile, you will find your account with this broker.

We liked the diversity of account types at FXTM. They are grouped into two groups, standard accounts and ECN accounts.

Here are the standard accounts, all of which offer the ability to trade with Metatrader 4 and the FXTM Trader app.

The Standard Account: This account offers relatively tight spreads, starting at 1.3 pip, with no commission. Leverage can go up to 1:1000. It is still limited to 1:30 in Europe. There are no restrictions on how to trade, hedging is allowed (opening two positions in opposite directions on the same asset). The standard account can be opened in EUR, USD, GBP or NGN (for Nigerian clients).

The Cent Account: this account is intended for those who have little money to invest or want to test trading conditions with a real account. It is a cent account, with a minimum deposit of only 10 euros. On the Cent account, one lot equals 1,000 units instead of the average 100,000. It has the same trading conditions as the standard account.

The Shares account: this account is reserved for traders and investors in the equity markets. It allows trading equity CFDs from MT4 onwards. There are nearly 180 shares listed on the NYSE or NASDAQ. Hedging on shares is possible.

ECN accounts

The ECN Zero account: This type of account allows you to trade with MT4 or MT5. This account has quite advantageous spreads, starting from 1.5 pip for EUR/USD. The leverage available is up to 1:1000 (limited to 1:30 in Europe). With ECN Zero, you do not pay any commission.

The ECN Account: This is FXTM's valid ECN account, with a commission of $2 per lot traded. Spreads start at 0.1 pip, which allows for scalping.

The FXTM Pro Account: Also allows you to trade on MT4 or MT5. This account is designed for experienced traders, who can benefit from the best trading conditions. In particular, the spread for the FXTM Pro account can be zero on the most traded currency pairs. It offers faster order execution but is limited to a leverage of 1:200.

Deposit and Withdrawal

FXTM is one of the brokers that offer the most options for crediting an account. The minimum deposit varies between €10 and €25,000, depending on the type of account.

The deposit

We liked the fact that FXTM allows all traders to open an account with the means they have. The minimum deposit varies from account type to account type.

For Standard and Share accounts, the minimum deposit is set at 100 euros. The Hundred account allows you to open a real account with only 10 euros. The FXTM Pro account requires a minimum deposit of 25,000 Euros.

There is no maximum deposit at FXTM.

In terms of deposit methods, FXTM is one of the brokers with the most options. The traditional methods are, of course, bank transfer and card (Mastercard, Visa, Maestro).

Customers can also use about 20 electronic wallets, depending on their geographic location. Neteller and Skrill, services available in France, are in this list, but the broker does not allow deposits via PayPal. Other portfolios include Vload, Dixipay, Cash U and Perfectmoney.

FXTM also offers a wide choice of deposit methods for third world traders, including wire transfer payment solutions from local banks. To do so, they will first need to complete a deposit form from the MyFXTM dashboard and then follow the instructions.

You also have the option of making a deposit using encryption. The following virtual currencies are available: Bitcoin, Ethereum, Litecoin and Dash.

Withdrawal

The same methods as deposits make withdrawals. If the dealer does not charge a commission on the deposit, withdrawal charges may apply in some ways. For card withdrawals, the fee is 2 euros. The price for removals by bank transfer is quite high, and it is 30 euros. For cryptos, you will pay 1% of the withdrawal amount.

Here is a summary table of the most commonly used withdrawal fees.