Opening an account with FXTM
Not only is opening an account with FXTM straightforward, but the broker approves clients in an average of 12 minutes. This is much quicker than other brokers, who often take up to 72 hours to verify supporting documents. To register with FXTM you will need to provide some basic information and the process can be completed from desktop or mobile. The minimum deposit of just $10 for the Standard Cent account is also highly accessible for most clients.
Is FXTM available in your country?
FXTM is a global broker with clients in over 150 countries. That being said, our FXTM broker review cautions that the broker does not provide services to residents of the following jurisdictions:
- Hong Kong
- Democratic Republic of Korea
- Occupied Area of Cyprus
- Puerto Rico
How to open an account at FXTM
You should find it incredibly easy to open an account at FXTM as the process is fully digital which makes it straightforward and quick.
What you will need to open an account
Like all brokers, FXTM requires you to submit some personal information and documentation before your account can be verified. Here’s what you’ll need:
- Personal information –Full name, address, phone number, country, email address, and tax residency information.
- Regulatory information – Employment details, proof of forex knowledge, trading aims, and income.
- Documentation – Proof of identity and proof of address, both of which must be in the form of clear color copies. The proof of identity can be a national identity card, driving license, passport, or a government-issued ID. The proof of address may be counted as proof of identity if it has the right residential address listed. Otherwise, you will also need a bank or card statement or a utility bill from the past six months.
To open an account with FXTM, you’ll need to provide proof of identity and proof of address. This process allows FXTM to meet KYC (Know Your Customer) guidelines. KYC guidelines keep you safe and stop the broker from accidentally facilitating illegal practices such as money laundering.
What is the minimum deposit at FXTM?
The minimum deposit limits at FXTM are incredibly accessible, especially if you choose the Standard Cent Account. This account type has a minimum deposit of just $10 (or €/£ 10 or ₦2,000). Other account type minimum deposit limits are as follows:
- Standard and Shares Accounts – $100 (or €/£ 100 or ₦40,000)
- ECN Zero Account – $200 (or €/£ 200 or ₦80,000)
- ECN Account – $500 (or €/£ 500 or ₦80,000)
- FXTM Pro Account – $25,000 (or €/£ 25,000 or ₦5,000,000)
FXTM payment methods
Our FXTM forex broker review team is highly impressed by the range of payment methods available. Many are available in various countries, while others are region-specific. All FXTM accounts are available in USD, EUR, GBP, or NGN (only Nigerian clients). The following chart outlines the payment methods available at FXTM. Keep in mind that FXTM does not have a maximum deposit amount, but individual payment methods may have their own.