FXTM Minimum Deposit

 

A FXTM minimum deposit Review

 

FXTM Minimum Deposit

 

The FXTM minimum deposit amount that FXTM requires is $10.

The minimum deposit amount of $10 when registering a live account is equivalent to ZAR185.09 at the current exchange rate between US Dollar and South African Rand on the day that this article was written.

FXTM is a Cyprus-based broker which is authorized and regulated by some of the strictest and most demanding regulating entities namely the FCA, CySEC, FSCA and FSC, and as a regulated broker, one of the requirements is that client funds be kept in segregated accounts.

In complying with this, amidst several other strict rules and regulations, all client funds must be kept separate from the broker account, and it can only be used by traders to conduct trading activities.

In addition to ensuring client fund security through segregated accounts, regulated brokers such as FXTM are required to be a member of a compensation scheme or fund which pays out a certain amount to eligible clients in the case of company insolvency.

 

Deposit fees and deposit methods

 

FXTM does not charge deposit fees and there is a great variety of payment methods which can be used to deposit the minimum amount, including, but not limited to:

  • FasaPay
  • Online Banking
  • Debit/Credit Cards
  • WebMoney
  • Bitcoin
  • Bank Wire Transfers, and various others.

 

FXTM supports a variety of deposit currencies in which traders can fund their accounts including:

  • USD
  • EUR
  • GBP
  • IDR
  • MYR
  • NGN
  • ZAR, and more.

 

Traders need to note that there are set deposit currencies in which funds can be deposited relating to the payment method being used.

 

Step by step guide to deposit the minimum amount

 

Once the trader has completed the process of registering on the website, the trader can make the initial minimum deposit by following these steps:

  1. The trader can opening the Deposits page when logged into MyFXTM by navigating to the ‘My Money Section’.
  2. The trader can then choose their preferred method of payment and click on ‘Deposit’.
  3. Next the trader can select the relevant trading account into which they want to make the minimum deposit and complete the necessary fields.
  4. The trader can then confirm the deposit details on the next page that opens.

 

Pros and Cons

 

PROS CONS
1.      Deposit fees are not charged 1.      None noted
2.      Variety of payment methods supported
3.      Variety of deposit currencies supported

 

FAQ

 

What is the minimum deposit for FXTM?

$10.

 

How do I make a deposit and withdrawal with FXTM?

FXTM offers a great variety of payment methods that can be used to deposit and withdraw funds, including, but not limited to:

  • FasaPay
  • Online Banking
  • Debit/Credit Cards
  • WebMoney
  • Bitcoin
  • Bank Wire Transfers, and various others.

 

Does FXTM charge withdrawal fees?

Yes.

Depending on the withdrawal method chosen, traders will be subjected to pay commissions on a majority of payment methods, the withdrawal fee will vary depending on the withdrawal amount.

 

How long does it take to make a withdrawal?

  • Bank Wire Transfers take between three to five business days.
  • Credit/Debit cards take between three to ten business days, and
  • E-Wallets can take up to one business day.