FDM Account Type

FDM Group offers different types of trading accounts to cater to various trading needs and preferences. The primary account types include:

• Standard Accounts:
• Lot Size: Standard lots of $100,000.
• Leverage: Typically 100:1.
• Capital Requirement: Minimum balance often required is between $2,000 to $10,000.
• Pros: Higher potential gains, as each pip is worth $10.
• Cons: Higher risk of losses, which can be significant for inexperienced traders.
• Mini Accounts:
• Lot Size: Mini lots of $10,000.
• Leverage: Up to 400:1.
• Capital Requirement: Can be opened with as little as $250 to $500.
• Pros: Lower risk and capital requirement, suitable for beginners.
• Cons: Lower reward potential, as each pip is worth $1.
• Managed Accounts:
• Management: Professional portfolio managers handle trading decisions.
• Investment: Minimum investment typically starts at $2,000 for pooled accounts and $10,000 for individual accounts.
• Pros: Professional guidance and portfolio diversification.
• Cons: Additional fees for management services and less control over trading decisions.

FDM Broker Account Opening Process

Opening a broker account with FDM is a straightforward process that can be completed in a few steps:

• Select a Broker: Choose FDM as your broker after researching their account types and services.

• Complete the Application: Fill out the account opening form with your personal details, including:

• Name
• Email
• Phone Number
• Address
• Bank details for funding the account
• KYC Verification: Submit a Know Your Customer (KYC) verification form along with necessary documents such as:
• Valid ID (passport, driver's license, or national ID)
• Proof of address (utility bill or bank statement)
• Verification Process:
• A representative may contact you for manual verification or conduct an e-KYC process via video verification.

• E-Sign Documents: Digitally sign the necessary documents to finalize the account setup.

• Account Activation: Wait for 3-4 days for your account to be activated. You will receive your login credentials.

• Fund Your Account: Link your bank account and deposit funds to start trading.