FXTM Announces Big Changes in Account Types, Loyalty Program

Gabriel Sherman

In a consequential move, top Forex broker FTXM has recently announced significant changes to its loyalty program and account types. FXTM will be removing its loyalty program altogether for new traders, and will no longer be offering the Pro and Standard accounts, which operate on the MT4 and MT5 trading platforms, the Share-CFDs account, which operates on the MT4 platform, and the Stocks account, which operates on the MT5.

These will be replaced by three new account types, with varying pros and cons.

The Advantage account operates on the MT4 and MT5 platforms and is the cheapest account type offered by FXTM. It offers market execution, spreads from 0.0, and carries a volume-based commission average of $0.40 - $2. The minimum deposit required for an Advantage account is $/€/£ 500 or ₦80,000 and supports the US dollar, euro, British pound and Nigerian naira currencies. The Advantage account allows traders to trade Forex, metals, commodities, indices, Forex indices, stock baskets, stock CFDs (MT5 only) and stocks (MT5 only).

The Advantage account is swap free and has a margin call of 80%, a 50% stop out, and offers floating leverage up to 1:2000. Traders are allowed unlimited orders, and up to 300 pending orders.

The Advantage Plus account also operates on both MT4 and MT5 platforms, with zero commission and spreads from 1.5. Those with partner accounts will enjoy high rebates. The Advantage Plus also relies on market execution and requires a minimum deposit of $/€/£ 500 or ₦80,000, with the US dollar, euro, British pound and Nigerian naira as the supported account currencies. Just like the Advantage, the Advantage Plus allows traders to trade Forex, metals, commodities, indices, Forex indices, stock baskets, stock CFDs (MT5 only) and stocks (MT5 only).

The Advantage Plus account is also swap free and has a margin call of 80%, a 50% stop out, and offers floating leverage up to 1:2000. Traders are allowed unlimited orders, and up to 300 pending orders.

The Advantage and Advantage Plus accounts for UK traders differ from the global accounts in that the UK account has a minimum deposit of 200,000 NGN, does not support the Nigerian naira as an account currency, only allows trading in Forex, metals, commodities and indices, and offers up to 1:30 fixed leverage.

The third account type is the Micro account, which is compatible solely with the MT4 trading platform. The Micro account is the most accessible account offered by FXTM, with a low minimum deposit of $/€/£ 50 or ₦10,000 and instant execution. The Micro is similar to the Advantage Plus in its zero-commission account structure, with spreads starting at 1.5. Supported account currencies in the Micro are also the US dollar, euro, British pound and Nigerian naira, but traders are limited to trading Forex, metals, commodities, Forex indices and stock baskets.

The Advantage Plus (UK) differs from the Advantage Plus (Global) in that the UK account has a minimum deposit of 200,000 NGN, does not support the Nigerian naira as an account currency, only allows trading in Forex, metals, commodities and indices, and offers up to 1:30 fixed leverage.

The Micro account swap free and has a margin call of 60%, a 40% stop out, and offers fixed leverage between 1:30 – 1:000 for Forex, and up to 1:500 for metals. Traders have a one-spread limit and stop level, and are allowed up to 30 orders, with up to 100 pending orders.

The Micro (UK) account differs from the Micro (Global) account in that the UK does not allow a minimum deposit in NGN, does not support the Nigerian naira as an account currency, only allows trading in Forex and metals, and offers up to 1:30 fixed leverage.

Gabriel Sherman
Gabriel joined the team at DailyForex in 2020. Gabriel had previously worked as the national sales manager for a payment processing company, where he edited the marketing materials. After obtaining a degree in Communications from the Interdisciplinary Center of Herzliya, Gabriel helped mortgage and insurance brokers and fintech companies become authorized by the Financial Conduct Authority, and edited the company website and documents.

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