FXTM Minimum Deposit Editor’s Verdict

The FXTM minimum deposit is $10, but it takes $500 for the most competitive trading conditions. FXTM simplified its account structure and currently has three options.

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The FXTM account types and minimum deposit requirements are:

  • Micro (FXTM minimum deposit of $10, market maker account)
  • Advantage (FXTM minimum deposit of $500, ECN account)
  • Advantage Plus (FXTM minimum deposit of $500, market maker account)

Minimum Deposit for FXTM vs. Other Brokers

MinimumDeposit
FXTM
Axi
InstaForex
Tickmill
Admirals
Commission-Free Account
$10
$0
$1
$100
$100
Commission-Based Account
$500
$0
$1
$100
$100

The FXTM minimum deposit depends on the account type. The Micro account at FXTM is available for $10, placing it in the mid-section of the market.

The commission based FXTM Advantage account is where FXTM shines. While the FXTM minimum deposit of $500 is higher than most competitors who offer ECN accounts, the trading costs rank among the lowest industry-wide, and most other brokers cannot match them, even with volume-based rebate programs.

Some brokers provide competing accounts but ask for minimum deposits exceeding $25,000. Therefore, the FXTM Advantage account ranks among the lowest and most competitive options. The FXTM minimum deposit of $500 is a reasonable request and an ideal amount to start Forex trading.

Pros & Cons of the FXTM Minimum Deposit

Pros of the FXTM minimum deposit
Cons of the FXTM minimum deposit
Well-regulated and trusted Forex broker with a clean regulatory history
Cryptocurrency deposits are not supported
Broad choice of deposit methods, including localized options
No internal deposit fees, only third-party payment processor costs
Many deposit methods have instant processing times

FXTM Deposit Methods and Deposit Fees

FXTM does not levy internal deposit fees, meaning that if you deposit $500 into your FXTM trading account, you will see $500 in the account. Third-party payment processing fees may apply, which are out of the control of FXTM.

Therefore, Forex traders should check with their preferred payment processor and select the one with the lowest transaction costs. Since withdrawals must follow the deposit path, checking withdrawal fees to the payment processor and potent

ially to the bank is another essential step when checking for total financial transaction fees.

Various payment processors have minimum transaction amounts that differ from minimum deposit requirements at Forex brokers but are usually below them. Processing times and fees also vary between payment processors and sometimes the geographic location of Forex traders. Not every deposit method is available to every trader and supported currencies also differ, meaning Forex traders must consider potential currency conversion fees.

FXTM average transfer times for the different methods:

  • Bank transfer: 2-3 days
  • Credit card and E-wallets: instant or a few hours

FXTM deposit methods vs. similar brokers

DepositMethods
FXTM
Axi
InstaForex
Tickmill
Admirals
Bank wires
Yes
Yes
Yes
Yes
Yes
Credit/debitcards
Yes
Yes
Yes
Yes
Yes
Skrill
Yes
Yes
Yes
Yes
Yes
WebMoney
No
No
Yes
Yes
No
ChinaUnionPay
No
Yes
No
Yes
No
PerfectMoney
Yes
No
Yes
No
No
OtherE-wallets
Yes
Yes
Yes
Yes
Yes
LocalizedMethods
Yes
Yes
Yes
No
No
Crypto-currencies
No
Yes
Yes
No
No

Noteworthy:

  • Processing times for most payment processors at FXTM are instant
  • Bank wires can take between three to five business days

Deposit Currencies and the FXTM Minimum Deposit in ZAR

Forex brokers support different account currencies and deposit currencies. The former is the base currency of your forex trading account, and the latter are currencies available for deposits through the payment processors. A currency conversion fee may apply each time they differ, or your local currency differs from the supported deposit currencies.

FXTM Broker supports the following account base currencies:

  • US Dollar
  • Euro
  • British Pound
  • Nigerian Naira (only for Nigerian residents)

FXTM supports the following deposit currencies:

  • US Dollar
  • Euro
  • British Pound
  • Polish Zloty
  • Czech Koruna
  • Nigerian Naira
  • Indian Rupee
  • Kenyan Shilling
  • Ghanaian Cedi
  • South African Rand
  • Rwandan Franc
  • Tanzanian Shilling
  • Ugandan Shilling
  • Indonesian Rupiah
  • United Arab Emirates Dirham

Noteworthy:

  • The FXTM Minimum deposit in ZAR is ZAR 20, but traders must consider the minimum deposit at FXTM, which is notably higher at ZAR 8,000
  • Follow-on deposits can be lower, but a ZAR 20 deposit makes little sense given payment processing costs

Since the US Dollar is part of over 85% of all daily Forex trading volume, it makes sense to have a US Dollar base currency account. It also limits currency conversions and boosts overall profitability. Another way to lower currency conversion fees is to have a multi-currency account with an online or brick-and-mortar bank. It allows transactions in the desired currency, and the transaction and conversion costs plus exchange rates are usually notably better versus online payment processors.

FXTM trading account currencies vs. similar brokers

AccountCurrencies
FXTM
Axi
InstaForex
Tickmill
Admirals
US Dollar
Yes
Yes
Yes
Yes
Yes
Euro
Yes
Yes
Yes
Yes
Yes
British Pound
Yes
Yes
No
Yes
Yes
Swiss Franc
No
Yes
No
No
Yes
AustralianDollar
No
Yes
No
No
No
Others
Yes
Yes
Yes
No
Yes
Total
4
10
3
3
10

A Step by step guide to deposit Money On FXTM Account

Sending the FXTM minimum deposit follows a convenient method, especially after Forex traders have opened their trading account and fully verified it. Account verification is mandatory to satisfy regulatory stipulated AML/KYC requirements. Only verified accounts may request withdrawals, and most Forex traders will pass verification after sending a copy of their government-issued ID and one proof of residency document.

Here is how Forex traders can send their FXTM minimum deposit:

1. Complete the online registration form to access the secure back office. FXTM does not collect unnecessary personal information or ask pointless questions. Traders must only provide their name, country of residence, valid mobile phone number, e-mail address, and desired password. FXTM will send a verification pin to the provided mobile number to complete the process.

2. Pass account verification by uploading a copy of a government-issued ID and one proof of residency document.

3. Log into your verified trading account, navigate to the deposit tab, and select your desired deposit method. FXTM supports bank wires, credit/debit cards, e-wallets, and localized payment options. Fill out the amount you wish to deposit and confirm the transaction. Some third-party payment processors will redirect you to their page to log into your account and complete the deposit.

4. Most online payment processors have instant processing times, while others can take several business days. FXTM will send a confirmation e-mail once it receives the deposit and credits it to your trading account. It will also show in the payment history of your payment processor or bank.

How Does the Minimum Deposit Work?

Each financial services institution and account have a minimum deposit requirement, and FXTM is no different. The differences in the FXTM minimum deposit grant two distinctively different account types.

The Micro account for an FXTM minimum deposit of $10 provides traders with a live trading account, but the higher fees make it challenging for committed traders. The Advantage account requires an FXTM minimum deposit of $500, but the highly competitive pricing environment warrants the higher capital requirements. It offers Forex traders one of the most competitive Forex trading accounts.

Lower minimum deposits usually provide the most basic trading services, while higher ones grant innovative features and lower trading costs. A minimum deposit also ensures that the Forex broker earns sufficient revenues to maintain services. Intense competition in the brokerage sector has lowered minimum deposit requirements. Some Forex brokers eliminated them, relying on their competitive trading environment to attract and retain clients with increasing trading volumes.

  • HeadquartersCyprus
    RegulatedCySEC, FCA, FSC Mauritius, CMA
    Year Established2011
    Execution TypeECN/STP, Market Maker
    Minimum Deposit$10
    Trading Platforms(s)MetaTrader 4, MetaTrader 5, Proprietary platform
    Signals
    US Persons Accepted?
    Islamic Account
    Segregated Account
    Managed Accounts
    Support Hours24/5
    Customer Supportemail-support chat-support
    Demo Account

Broker Comparison

FAQs

What is the minimum deposit for FXTM?

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The FXTM minimum deposit for the Micro account is $10 and $500 for the Advantage account.

Does FXTM have an instant deposit?

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Yes, most e-wallet and credit/debit card deposits meet the definition of instant deposits, which FXTM outlines in detail on its website.

What are FXTM's deposit currencies?

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FXTM allows deposits in the US Dollar, the Euro, the British Pound, the Polish Zloty, the Czech Koruna, the Nigerian Naira, the Indian Rupee, the Kenyan Shilling, the Ghanaian Cedi, the South African Rand, the Rwandan Franc, the Tanzanian Shilling, the Ugandan Shilling, the Indonesian Rupiah, and the United Arab Emirates Dirham.

How long does it take to deposit at FXTM?

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FXTM lists deposit times for most e-wallets and credit/debit cards as instant. Some take up to one hour, localized solutions up to 24 hours, and bank wires take between three to five business days.

Does FXTM offer a no-deposit bonus?

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FXTM offered a no-deposit bonus in the past and may provide one at their discretion in the futurebut does not presently offerone. A 30% deposit bonus exists alongside other promotions.

What are the deposit methods at FXTM?

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Traders can deposit using bank wires, credit/debit cards, GlobePay, Skrill, PayRedeem, Perfect Money, Neteller, M-Pesa, FasaPay, and several other localized payment processors.

Does FXTM have an instant deposit?

expand.png
Yes, most e-wallet and credit/debit card deposits meet the definition of instant deposits, which FXTM outlines in detail on its website.

What are FXTM's deposit currencies?

expand.png
FXTM allows deposits in the US Dollar, the Euro, the British Pound, the Polish Zloty, the Czech Koruna, the Nigerian Naira, the Indian Rupee, the Kenyan Shilling, the Ghanaian Cedi, the South African Rand, the Rwandan Franc, the Tanzanian Shilling, the Ugandan Shilling, the Indonesian Rupiah, and the United Arab Emirates Dirham.

How long does it take to deposit at FXTM?

expand.png
FXTM lists deposit times for most e-wallets and credit/debit cards as instant. Some take up to one hour, localized solutions up to 24 hours, and bank wires take between three to five business days.

Does FXTM offer a no-deposit bonus?

expand.png
FXTM offered a no-deposit bonus in the past and may provide one at their discretion in the futurebut does not presently offerone. A 30% deposit bonus exists alongside other promotions.

What are the deposit methods at FXTM?

expand.png
Traders can deposit using bank wires, credit/debit cards, GlobePay, Skrill, PayRedeem, Perfect Money, Neteller, M-Pesa, FasaPay, and several other localized payment processors.

What is the minimum deposit at FXTM?

expand.png
The minimum deposit at FXTM is only $10.

About the Author

DailyForex.com Team
The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.