FXTM Trading Account – Review, Types, Process, Benefits, Charges & more
Find out everything about FXTM Trading Account here.
When you are choosing a brokerage house, the primary thing you need to look at is the trading account it provides.
The features of the trading account, brokerage charges, fines, leverage, margin, and many other features.
The trading account is the most important account which is required for trading. So, you need to look at all the benefits, features of the trading account of FXTM.
We will discuss the FXTM trading account in detail here in this article.
We will focus on the facilities you can have within FXTM online trading, its charges, and everything else you need to know about the FXTM trading account.
FXTM Trading Account and Benefits
The worldwide popular brokerage house FXTM was incorporated in the year 2011 by Nicholas Defteras.
The firm is yet to be publicly traded and the number of employees in it at present is around two hundred.
It has its headquarters in Cyprus city and it is regulated by CySEC, FSC, and FCA.
The benefits of having an FXTM trading account
You can access the global markets with the trading account of FXTM. You can trade multiple asset types across the different stock exchanges around the world.
Also, you can thus diversify your portfolio pretty well. Moreover, you can trade different types of commodities and currencies available across the economies.
Apart from having the access to multiple investment options, you also get high-end trading platforms and tools for trading with an FXTM trading account.
Trading platforms and tools are exceptionally important. These you need to trade easily and smoothly. The trading platforms come for free with trading accounts.
You can access different tools for analysis along with these platforms.
You also get features like copy trading with the FXTM online trading.
Copy-trading features help you trade by copying the best trades of the best traders. With an FXTM account and platforms, you get this benefit.
Professional customer support is readily available for the clients of FXTM who are using trading account.
Since it is a global brokerage house, the customer support you get is also in multiple languages. The trading account is reasonable, that is their brokerage charges are affordable for the clients.
There are multiple account types that you can choose as per your need and budget. The brokerage house is authorized and reputed amongst the traders and investors.
Fill up the Form – Open Forex Trading Account Now!
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FXTM Trading Account Charges
|Trading Account Charges|
|Account Type||Standard||Cent Account||Stock CFDs Account|
|Initial Deposit||$/€/£ 100||its $/€/£ 10||$/€/£ 100|
|Spread||From 1.3||its From 1.5||From 0.1|
While choosing the trading account of any brokerage house, the first and foremost important thing you need to check is the account charges.
With FXTM, you get different account types which you can choose according to your requirement.
The first account type is known as Standard which has a minimum initial deposit requirement of $100 or 100 Euros or Pounds.
This account provides a spread of around 1.3 pips. Moreover, there is no commission on this account which is a boon for the traders.
Even more, the leverage is exceptional, that is 1:1200. This means you can get a marginal loan for trading up to 1200 times your deposited amount in the trading account.
The second type of account is the Cent account for which FXTM has a minimum deposit requirement of $/€/£ 10.
So, you can open a trading account of this kind with FXTM for just 10 dollars.
There is no commission on this account as well so you can save a lot.
The leverage is also pretty high and you get 1000 times leverage with this Cent account of FXTM. The spread is 1.5 pips as well.
The charges for the stock CFDs account are pretty lower as well.
You can open this account with just a deposit of 100 pounds/ Euro or dollars.
You need to keep this deposit as a minimum deposit and intact.
The spread level you get with this account is starting from 0.1 pips.
While this account has no commission, the leverage is lower compared to the other two above. The leverage you get with this account is 10 times that is a 1:10 ratio.
Types of FXTM Trading Account
|Types of Trading Account|
|Trading Desk Type||No dealing desk|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||Yes|
|Suitable for daily trading||Yes|
|Suitable for Weekly trading||Yes|
|Suitable for swing trading||Yes|
While the broad categories of trading account are discussed in the above section, FXTM provides three other different types of account as well.
The minimum deposit requirement for the micro account of FXTM is 50 dollars/ pounds/ Euro. The spread in this account type you can expect from 1.5 and above.
You can trade in forex/ currencies, metals and commodities, indices or forex, and also in stock baskets. This account type of FXTM has no commission that you need to pay. There are multiple currencies in which you can deal in this account.
The best trading platform MT4 is being provided with this account type. For forex trading, you get leverage of 3 times to 1000 times and for metals, it is 500 times.
So, you can trade a lot more than the amount you have in your trading account as a deposit. This helps the traders a lot in making a profit.
With a Micro account, your orders get executed instantly without any waiting period. Even the minimum volume that you need to trade per lot is just 0.01.
Then the next up is the Advantage account. In this account, you need to keep a minimum deposit of 500 dollars or pounds or euros.
The spread starts from 0.0 pips only which is a huge benefit of this account.
With this Advantage account, you can trade multiple asset classes like currencies, commodities and metals, indices, forex indices, stock CFDs, stocks, and stock baskets as well.
However, with this account type, you need to pay commission as well which ranges from $0.40 to $2 based on the volume of the transaction.
You can get the best platforms for trading with this account that is MT4 or MT5.
You can get exceptional speed and support for your order execution.
Advantage Plus Account
Finally, there is the Advantage Plus account which is the most feature-rich account of FXTM.
The minimum deposit requirement in this account is 500 dollars or pounds or Euros. However, there is no commission on the trades using this account.
You can trade all the asset classes like commodities, metals, currencies, stocks, and everything else.
The trading platforms are MT 4 and MT5 which are the most advanced trading platforms at present provided by FXTM to the users of this Advanced plus account.
However, the most beneficial feature is the leverage which is 2000 times the deposit you keep in your trading account.
FXTM Account Opening and Trading Process
The process of opening the account is very simple with FXTM. All you need to do is to –
- Click on the account opening button or the Demo account button.
- Then you need to fill the form that appears on the screen
- Enter all the details like your name, address, bank details, and other details as required
- Once you submit the form, the brokerage house will contact you for the account opening.
- You need to then finish the KYC process which is very important for opening an FXTM trading account.
- Once you upload the documents, those will be checked by the FXTM executives and if they approve the same after thorough verification your account will be live.
- You can then access the account easily.
To login into the FXTM account for trading, you need the login id and password that is sent by the broker upon successful account opening.
You can log in using any of the trading platforms. It can be the mobile trading platforms or the trading terminals or web-based platforms anything.
To download and set up the trading platform, you have to visit the FXTM website or the Google Play Store, or the App Store.
You can easily download the trading platforms from these sites.
Then you need to set them up according to your requirement. There are multiple options available which you can avail.
To trade using the FXTM trading account you need to –
- Click on the asset/ instrument in which you want to trade
- You can find the buy or sell or edit or cancel option
- You can click on the particular option as per your trading need. For instance, if you want to purchase, you have to click on the buy option.
- You can modify, cancel similarly.
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FXTM Trading Account – Features
|Social Trading / Copy Trading||Yes|
|Guaranteed Stop Loss||Yes|
|Guaranteed Limit Orders||No|
|Guaranteed Fills / Liquidity||No|
|Trading From Chart||No|
|Interest On Margin||No|
|Other Trading Features||No|
The features of FXTM online trading includes –
- There is a social and copy trading facility
- Educational services include multiple educational resources on the stock market, forex, and other markets. News and recent research and findings.
- You can set email alerts, SMS alerts
- There are multiple trading indicators and signals
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FXTM Trading Account – Conclusion
To conclude, it can be said that the FXTM trading account is worth every praise it gets.
As it has ample trading assets for traders to diversify their investments.
Moreover, there are advanced trading platforms and tools.
It has a huge reach worldwide and thus has customer support in multiple languages. So, overall it is a great platform to be on for trading.
FXTM Online Trading – FAQs
Here is the list of FAQs related to the FXTM Online Trading:
Does FXTM provide Online Trading?
Yes, there is an online trading facility with an FXTM account. You can do all the trades online with an FXTM account.
What are the Commission Charges in FXTM?
The commission charges are generally not there on most of the accounts except for the Advantage account where the commission ranges from $0.40 to $2 per transaction.
Does FXTM provide Demo account Trading?
Yes, you can access the Demo account with the FXTM trading account.
Is trading Free at FXTM?
No, you need to keep a minimum deposit and then there are certain commission charges which are levied on some of the account types.
Do FXTM provide Spot Metals Trading?
Yes, it has a spot metal trading facility available. You can trade different metals using the FXTM account.
What are Spot Metals Trading Charges at FXTM?
You can trade spot metals with FXTM and the charges vary from metal to metal.
The Spread varies actually and it depends on different grounds. It also depends on the type of order you placed.
Does FXTM provide Stock Trading?
Yes, you can trade stocks with the trading account of FXTM.
What is spread at FXTM?
The spreads are different for each of the account types and assets that you are trading.
Is FXTM safe for trading?
Yes, FXTM provides a very well-secured trading platform. You can have full faith in their services.
Do FXTM provide Trading Tips?
Yes, you can get regular stock market updates and tips with an FXTM trading account.
Fill up the Form – Open Forex Trading Account Now!
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