These Are Trading Terms In FXTM
FXTM is considered risky on average, with a Confidence Score of 70 out of 99, in the opinion of forexbrokers website experts regarding FXTM. FXTM is not a public company and does not operate a bank. FXTM is regulated by one tier-1 (high confidence) regulator, two tier-2 (average confidence) regulators, and one tier-3 (low confidence) regulator. Additionally, if you want to know more about FXTM, feel free to visit http://www.vixbrokers.com/minimumdeposit/fxtm.html right away.
FXTM offers a wide range of trading accounts, which can be categorized into two groups: Standard (Standard Accounts, CENT, and Shares) and ECN (ECN MT4, ECN MT5, ECN ZERO, and Pro).
In addition, there is a dedicated account for trading stock CFDs, called the Shares account, which is directly linked to the NYSE and NASDAQ product price lists.
Micro, mini and standard lots are also available on all account types.
Please note that on all accounts with market execution (ECN), stop loss and take profit can only be added after the market order has been executed. This restriction limits a trader’s ability to use the pending order feature, as stop loss and limit levels cannot be added beforehand. An alternative to this problem is to use the other three account types (Standard), which uses the instant execution type.
Minimum Initial Deposit
To open an account at FXTM, a trader only needs to make a minimum deposit of $10, which is a low initial deposit in forex trading.
Spreads & Commissions
Most FXTM accounts do not charge a commission: Standard accounts, as well as ECN Zero and Pro accounts. Only ECN MT4 & ECN MT5 accounts charge a small commission of $4 (per standard lot).
The floating spreads offered by this broker vary by account type. The tightest spreads are available on ECN and Pro accounts; however, the latter account type is intended for institutional clients (with a minimum initial deposit of $25,000), so we recommend the ECN MT4 account. The average EUR/USD spread on this account is 0.4 pips, and if we include the commission (2 x $2), then the average transaction fee for this currency pair is 0.8 pips per forex lot, which is a very interesting quote.