FXTM minimum deposit

Your expert
Krisztián G.
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Tamás D.
2w ago
Personally tested

Does FXTM have a minimum deposit requirement?

Are you looking to open an account at FXTM, but have only limited funds to invest? Wondering whether FXTM requires a minimum deposit to start trading?

FXTM requires a minimum deposit of $10 before you can start trading. While many brokers require no such minimum, this amount is still considered acceptable.

FXTM requires a minimum deposit but it's not excessive
Krisztián Gátonyi
Forex • Market Analysis • Stock Market

Together with my brokerage analyst colleagues, I have thoroughly tested the services of FXTM by opening a real-money account. Here's what you need to know about depositing at FXTM as of May 2024:

  • The minimum deposit at FXTM is $10 - not the best but shouldn't be a dealbreaker.
  • You can choose from multiple base currencies.
  • You can deposit your funds via multiple methods but fees may apply.
  • Depositing money at FXTM is an easy process.

  • Check our Compare Broker tool to see how FXTM fares against other brokers.

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All you need to know about deposit requirements at FXTM

Once you have decided to open an account at FXTM and completed both the registration and verification process, you need to fund your account to be able to begin trading.

At FXTM, the required minimum deposit is $10. This means that you have to put at least $10 in your broker account to be able to start trading.

Is that more than you're willing to commit at this point? See if you can start trading with less at other brokers.

This is where you stand in your journey to your first trade at FXTM

So what if you made a deposit but decide later that you want to switch brokers and invest your money elsewhere? No worries - you can always opt out and withdraw your funds. All you need to keep in mind are applicable withdrawal fees and withdrawal times.

At FXTM, there's a withdrawal fee of $3 and it usually takes 1 day to receive your funds; though sometimes withdrawal might take a bit longer, depending on the method you use.

What base currencies are available at FXTM?

At FXTM, the following base currencies are available: EUR, GBP, USD. If possible, try to deposit money to your brokerage account in your account's base currency.

Why is that important? If you fund your trading account in the same currency as your bank account, you won't have to pay a conversion fee. Conversion fees apply if the bank account or card you're using for depositing is denominated in a different currency than your brokerage account.

A convenient way to save on currency conversion fees is by opening a multi-currency bank account at a digital bank.

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Deposit options at FXTM: what's available and what does it cost?

At FXTM, you have multiple options to choose from when you want to deposit money to your account. These options are the following: Bank transfer, Credit/debit cards, Skrill/Moneybookers, Neteller, Western Union Quick Pay, Dotpay, Bitcoin via Skrill, PayPal. All these options are great; choose the one that's most convenient for you to be able to start trading.

Bank transfer
Deposit options at FXTM and selected competitors

FXTM charges no deposit fees for bank transfers. This is great because the broker won't deduct anything from your deposits, and you only have to calculate with the costs charged by your bank or other third-party financial service you send the money with.

However, remember that some brokers may charge a fee for deposit methods other than bank transfers, such as debit/credit card transfers or deposits via electronic wallets.

There is also a difference in typical transfer times for various deposit methods. Credit/debit card and e-wallet transfers are usually instant, but bank transfers may take 2-3 business days to arrive.

Imagine you're closely monitoring financial markets and spot a good trading opportunity you want to act upon right away. But what if there's not enough money in your broker account? In such cases, instant deposit methods like debit/credit card or electronic wallet transfers can come in handy. These can help you replenish your broker account immediately and react to market movements quickly and effectively. If this is important to you, consider opening an account with a broker that accepts instant deposit methods such as cards or e-wallets.

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It's easy to deposit money to your FXTM account

Making an initial deposit to your brokerage account can sound like a difficult task, but actually it's fairly easy. Just follow our step-by-step guide for depositing money and shortly you'll be ready to start trading:

  • Log in to FXTM's client area
  • Look for the 'Deposit' or 'Funding' menu
  • Choose your funding method
  • Enter the amount to be deposited and other necessary details for the transaction
  • Double-check if payment details are correct
  • If all looks OK, click to submit your deposit request
This is how the deposit interface looks like at FXTM

If you get stuck during the process, you can always reach out to FXTM's customer support. At FXTM, customer support can be reached via live chat, phone and email. Alternatively, you can drop a message on our Forum.

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Get to know FXTM and its best alternatives

For comprehensive insights into trading conditions, costs and overall service quality at FXTM, turn to BrokerChooser's FXTM review for 2024. Our analysis is based on nearly 600 individual data points as well as first-hand experience. We analyze brokers by opening a live account and executing trades on their platforms using real money, which helps us understand and evaluate the full spectrum of their services.

If you want to explore the best alternatives for FXTM in your country, head over to our Compare Broker tool, where you can compare brokers by filtering for various criteria including minimum deposits, fees, tradable products and more.

Check out this short video for a behind-the-scenes peek into how our experts personally test and evaluate brokers.

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Further reading

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

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Krisztián Gátonyi
Author of this article
I have 15 years of experience in proprietary trading, mainly in the interbank currency market as a foreign exchange risk manager. I'm actively involved in reviewing the 100+ brokers listed on our site. I personally open accounts with real money, execute trades, test customer services. I hold an MSc in International Business from the University of Middlesex. My purpose is to help people find the best investment provider.
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