Fxtm is a forex broker that needs no introduction. Fxtm has time and time again proven to be a stellar forex broker for both beginner traders and the seasoned ones. You wouldn’t need any other proof than the fact that fxtm has been offering ITS services for almost two decades now.
There is a lot of exciting aspects of trading on fxtm, that we can talk about. It is always an interesting conversation and it opens up a lot of intriguing discussions about forex trade. That is because fxtm has already positioned itself as a trend and standard setter within the forex industry.
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Our discussions today are going to border on fxtm minimum deposit and the transaction methods that you can use on fxtm though. Since we’ve talked of fxtm as an exciting forex broker you would certainly want to trade with it. For that to be possible, you need to be able to transact with fxtm with regard to depositing and withdrawing funds. The conversation about minimum deposits reveals how easy it is to start trading on fxtm.
The first step is to understand the amount of money that you need to get started. It therefore only makes sense that we start with the discussing fxtm minimum deposits.
Fxtm minimum deposit
Just like on any other forex broker, different minimum deposits are merged two different trading accounts. Fxtm is popular for having a large variety of trading accounts. The large number of traders on fxtm is because of this variety. It makes it possible for fxtm to accommodate every trader regardless of their trading Style or strategy.
Here are the various trading accounts you will find on fxtm.
- Cent account – $10
- Standard account – $100
- Shares account – $100
- Ecn zero account – $200
- ecn account – $500
- Pro account- $2500
Quite evidently, fxtm provides the ultimate variety of trading accounts. Alongside the trading accounts, we have indicated that the required minimum deposit. The minimum deposit surprises with the rising calibre of the trading accounts. That should not concern you if your focus is on low minimum deposits. The cent account, which is the best place for any beginner to get started, only needs $10. Minimum deposits do not get any lower than that especially in the forex world. You can go for any of the other trading accounts if you have the minimum deposit required.
Now that you have a good perspective of the money that you need to be able to start trading on fxtm, the question is; How do you get it onto the fxtm trading accounts?
That’s where the conversation about transaction methods comes in. Let’s find out how easy or difficult it is to deposit or withdraw money from fxtm.
Fxtm Deposit and Withdrawal Methods
Fxtm is a big forex broker. At the top, we’ve spoken of how fxtm has become a trend and standard-setter of the industry. You do not expect it to be falling short when it comes to depositing and withdrawing money. In that regard, fxtm has all the recognised online money transfer methods on its platforms.
Online money transfer methods are always divided into three categories. The case is no different on fxtm. You can use any of the three money transfer methods outlined below.
- Credit or debit cards
- Wire or bank transfers
The difference is always in the specific methods under each of these categories that a broker offers. Let’s explore fxtm and find out what it has in store for its traders under the three categories.
Credit or debit cards
There is no surprise in having Credit or debit cards as a way of depositing your funds on fxtm. It is one of the most used methods even on other online businesses. Credit or debit cards are quite convenient and they are popular because the transactions are instant. They make it possible for people to buy products and services online. In the case of depositing trading funds on your fxtm trading account, the ensure that you never miss a trading opportunity just because you do not have enough trading balance.
Below are some of the major credit card service providers that fxtm works with.
- Visa Electron
Fxtm is the best and it only makes sense that it works with the best. If you have any of these cards, you can rest assured that it is going to be quite easy for you to find your fxtm trading account. One thing we cannot forget to mention is that using credit or debit cards to find your fxtm account is very economical. That’s because the charges are usually negligible if any. Also note that the judges are by their service providers and not buy fxtm. Fxtm will not charge you a dime to deposit money on a trading account.
E-wallets are always exciting to talk about. They have revolutionized the way people do business online and brought a level of convenience that had never been experienced before. Every serious online business today knows I got it must have one or two e-wallets embedded on its platforms.
Fxtm has the best of them on its platforms. It has them to ensure it is easy to fund your trading account. Most people are using e-wallets to transact online. Among their wallets available on fxtm are;
- FasaPay, etc
These are some of the best e-wallet services on the internet today. Your fxtm deposits using are instant, and our child very little amounts if any. That makes them one of the most economical means of funding your account.
You should have it at the back of your mind that not all these you are let’s are going to be available in your country. Most countries will have a couple of them and have us will have just one or two. Some have none and they have to make do with other methods of deposit.
E-wallets are easy because they can easily be embedded into a broker’s platform. Fxtm has each one of these e-wallets on its deposit or withdrawal page. While depositing funds, all you need to do is visit the deposit page choose your most ideal e-wallet and click on it. You will be prompted to log in to it if you’re not already logged in. Once you are logged in you will get a checkout page on which you should enter the amount you wish to deposit and send.
Wire or Bank Transfers
Why are in bank transfers are a decades-old method of transacting online. They have been around for the longest while, but they haven’t run out of function yet. That’s because and like everything else that has come up, why are bank transfers remain to be the most secure and reliable method of transacting. Why are bank transfers will never have you second-guessing your funds are going to reach their destination?
That is why forex brokers such as fxtm fast can never do away with wire transfers. The other reason is that wire transfers might be the only method available in some countries that fxtm operates in. When they are the only methods available, the traders will be forced to use wire transfers although they are expensive and the transactions take the longest to complete.
The long duration taken to complete a wire transfer is usually the reason as to why most people tend to stay away from where transfers. It is easy to understand why most people would not want to be waiting for up to 7 business days for the transactions to be completed. Having said that, wire transfers are the ideal method of depositing money on fxtm if you are depositing a large amount of money.
Let’s talk about withdrawals in a small brief.
Withdrawing money from your fxtm trading account is quite seamless just like depositing is. Remember those we’ve reviewed above, are also used to receive funds when you make a withdrawal. Unlike on other platforms, fxtm is not going to charge you to withdraw your money. You need to have a minimum of $1 to be able from your fxtm trading account.
One more thing to note is that, you are money is going to be sent into the same source it came from. That means that if you used a card to deposit, you are withdrawal is going to be sent to that same card. We always advise that you choose a card and a wallet if you want to receive your money in the shortest duration. There is no difference in the way these money-transfer methods work when you are depositing and when you are withdrawing.
In a wrap, fxtm will remain to be one of the top forex brokers because not only has its brokerage services top-notch, but it also makes it easy for its traders to trade and transact. Whatever you are trading from, fxtm is certainly one of the forex brokers that puts you on a high pedestal and on your way to profiting from forex trade.