Traders can use an FXTM ECN account to trade through the foreign exchange market. It offers high leverage of up to 1:200 and requires a minimum deposit of $25,000. The account features zero commissions, spreads from zero to one pip, and margin call and stop out is set at 50% and 80%, respectively. However, FXTM ECN MT4 users cannot use the interest rates. The maximum volume per trade is 0.01 lots.
MT4 platform
If you want to trade currency using a central broker, you can open an FXTM ECN account on the MT4 platform. CySEC regulates this kind of account. FXTM provides three types of ECN accounts: ECN Zero, ECN Pro and ECN Invest. Each type of account comes with a different set of features and requirements. For example, the ECN Zero account requires a minimum deposit of PS200 and features no commissions. In addition, the ECN Zero account provides a free mirror demo and swap-free accounts. The FXTM Pro account is the third type of ECN account and offers MT4 support. The FXTM Pro account also features ECN execution and does not offer a demo account.
If you wish to trade stocks on MT4, FXTM offers various types of accounts. The ECN Account has no commissions and offers tight spreads and a swap-free option. FXTM also offers institutional-level spreads for account holders with balances over PS250,000. The MT4 platform provides support for more than 180 US stocks.
Minimum deposit
FXTM offers several different trading account types, and the minimum deposit for each differs. For instance, a standard account requires a minimum of $50, while an ECN account requires a $500 minimum deposit. This deposit is also known as the initial deposit or funding, depending on the type of account. Although the minimum deposit is generally higher than what other brokers require, this broker’s trading costs are among the lowest in the industry. Most other brokers can’t match these low costs.
To open a trading account, first, determine your currency. You will need to deposit at least $10, although some countries require a larger deposit. In addition, some countries require ID verification, and some require proof of residence to open an account. Once you meet the minimum deposit requirements, you can access the secure back office of the trading platform.
FXTM is a licensed broker in several jurisdictions. This license ensures that the company follows strict regulations and maintains a high level of security. The company uses two-factor authentication and encryption to ensure the safety of client funds. Additionally, the company is active on social media and offers multiple contact methods.
Commissions
FXTM offers several trading accounts with different types of spreads. You can trade on a standard account with a minimum deposit of $500 or switch to an ECN account with zero commissions. If you have the money and want to trade in more markets, the FXTM Pro account will allow you to do so for as little as $2.00 per lot. This account offers zero commissions and spreads of 1.5 pips or lower.
The minimum leverage is 0.02, and you can trade with leverage up to 1:1000. However, your leverage decreases over time as your trading volume increases. In general, retail traders can expect leverage of around 1:500 to 1:1000, with smaller volumes being limited to 1:200 to 1:100. However, if you trade more than 60.0 lots, your leverage will decrease to a much smaller 0.1 pip. Despite low commissions, FXTM is not likely to be able to beat other brokers unless you trade on the lowest spreads.
With offices in London and South Africa, FXTM is one of the most popular brokerages in the Forex trading industry. The Financial Conduct Authority regulates it in the UK, the South African Financial Services Commission, and the FSC of Mauritius. Its longevity and CYSEC registration help it stand out from the crowd.
Bonus program
The FXTM Electronic Communications Network (ECN) offers several promotions and bonuses to its customers. These include additional funds for trades in specific regions, contests that show off the skills of traders, and a suite of educational and analytical tools. These include market reports, automated signals, eBooks, webinars, and expert insights.
The FXTM Invest program uses cutting-edge technology to allow investors and traders to earn additional capital by copying the trades of successful traders. In exchange, the strategy manager will earn a certain percentage of their profits. To be eligible for the program, a strategy manager must register an ECN Zero Account, verify their profile, and accept its terms and conditions. This program works well for people who want to start forex trading but don’t have the time to learn complex trading strategies.