FXTM Fees and Spreads

 

A FXTM fees and spreads Review

 

FXTM Fees and Spreads

 

FXTM fees spreads and commissions start from $2 with spreads from 0.0 pips.

The commissions charged on especially ECN Accounts will be taken only when a position is opened and will depend on the type of instrument which is being traded in addition to the volume being traded.

FXTM has a comprehensive and competitive spread list with spreads that start from 0.0 pips and which are subjected to the type of account the trader chooses in addition to the financial instrument being traded.

 

FXTM’s fees and features can be viewed according to the type of accounts that are offered, the accounting options and features include:

  • Standard Account – minimum deposit of $/£/€ 100 or ₦40,000, floating leverage from 1:2000, spreads from 1.3 pips and zero commissions charged on trades.
  • Cent Account – minimum deposit of $/£/€ 10 or ₦2,000, fixed leverage from 1:1000 to 1:25 depending on the financial instrument, spreads from 1.5 pips and zero commissions.
  • Shares Account – minimum deposit of $/£/€ 100 or ₦40,000, fixed leverage of 1:10 for US Shares and 1:3 for EU Shares, spreads from 0.1 pips and zero commissions.
  • ECN Account – minimum deposit of $/£/€ 500 or ₦80,000, floating leverage from 1:2000, spreads from 0.1 pips and commission of $2 per lot depending on the financial instrument and the volume traded.
  • ECN Zero Account – minimum deposit of $/£/€ 200 or ₦80,000, floating leverage from 1:2000, spreads from 1.5 pips and zero commissions.
  • FXTM Pro Account – minimum deposit of $/£/€ 25,000 or ₦5,000,000, floating leverage from 1:200 to 1:25, spreads from 0.0 pips and zero commissions.

 

Other Fees

 

Traders should note that certain financial instruments can only be traded during a certain time of the day, especially when considering different time zones, and additional fees may be charged should they hold these positions after they have closed.

Traders should always note that Overnight fees, otherwise known as swap fees or rollover fees, may be charged for positions held open for longer than a day.

FXTM offers the option of an Islamic account to traders who are of Muslim faith and who operate under the Sharia Law. Islamic or Swap Free account options are only available to traders who open any of the accounts under MetaTrader 4.

The only exception to this is that the Standard Cent Account and Shares Account can be converted to Islamic accounts despite the trading platform.

FXTM does not offer traders with spread betting and therefore spread betting fees are not applicable to this broker.

 

Broker Fees

 

FXTM does not charge any deposit fees but withdrawal fees are applicable when using the following payment methods:

  • FasaPay – 0.5%
  • South East Asia Online Banking – 1.4%
  • African Local Solutions (D) – $1.00
  • Latin America Solutions – 3.2% for Brazil and 1% plus €1 for Mexico
  • Online Banking Malaysia, Vietnam and Indonesia – 2%
  • Nganluong – 1.1% plus $0.05
  • Debit/Credit Cards (Visa Secure, Mastercard and Maestro) – $3/£2/€2
  • Crypto wallets – 1%
  • WebMoney – 2%
  • Yandex Money – 1.5%
  • QIWI Wallet – 1.5%
  • Perfect Money – 0.5%
  • Bitcoin – 1%
  • Konnexone – 2%, and
  • Bank Wire Transfers – €30

 

FXTM charges an inactivity fee of 5 EUR/USD/GP or NGN equivalent should the trader’s account become inactive for a period equal to six consecutive months. After the sixth month, the fee will be deducted form the account on a monthly basis.

 

Pros and Cons

 

PROS CONS
1.      Tight and competitive spreads 1.      Withdrawal fees are charged
2.      Low minimum initial deposit amount 2.      Withdrawal fees quite high for some methods of payment
3.      No deposit fees  
4.      High level of leverage up to 1:2000 depending on the type of account  
5.      Low commissions when compared to other brokers  

 

FAQ

 

How many instruments can I trade with FXTM?

You can trade a variety of financial instruments including:

  • Forex
  • CFDs on Commodities and Indices
  • Spot Metals
  • Share CFDs
  • Cryptocurrencies, and
  • Stocks

 

Which platforms are supported by FXTM?

FXTM provides the following popular trading platforms:

  • MetaTrader 4
  • MetaTrader 5, and
  • FXTM Trader

 

Does FXTM offer leverage?

Yes.

FXTM offers a maximum leverage of up to 1:2000, depending on the type of account that the trader chooses.

 

What spreads can I expect with FXTM?

Spreads from as little as 0.0 pips.

 

Does FXTM charge commission?

Yes.

Commissions are charged from $2.5 when using the ECN Account and the commissions are subsequently determined by the financial instrument being traded as well as the volume traded.

 

Is FXTM regulated?

Yes, FXTM is regulated by the highly reputed CySEC in Cyprus, the FCA in the UK, FSCA in South Africa and FSC in Mauritius.

 

Is FXTM a recommended forex trading broker for experts and beginners?

Yes, FXTM caters for a variety of traders from beginners to experts.

 

What is the overall rating out of 10 for FXTM?

9/10