FXTM broker Accounts

fxtm Account Types & Opening Guide 2025: Complete Comparison and Registration Steps

Part 1: fxtm Account Types Explained

FXTM (ForexTime) offers a variety of trading accounts tailored to different trader needs. Below is a detailed overview of the available account types:

1. Standard Accounts

• Types: Standard, Cent, Shares
• Minimum Deposit: $50 for Micro Account; $500 for Advantage Account
• Spread/Commission Structure:
• Micro Account: Variable spreads starting from 1.5 pips
• Advantage Account: Variable spreads starting from 0.1 pips with commission
• Leverage Options: Up to 1:1000 for Micro Account; up to 1:2000 for Advantage Account
• Key Features:
• Access to all forex trading instruments
• Instant execution for Micro Account; market execution for Advantage Account
• Target User Profile: Beginners to advanced traders
• Trading Instruments Available: Forex, commodities, indices, and shares

2. ECN Accounts

• Types: ECN, ECN Zero
• Minimum Deposit: $500
• Spread/Commission Structure:
• ECN: Variable spreads starting from 0.1 pips with commission
• ECN Zero: No commission, spreads starting from 0.0 pips
• Leverage Options: Up to 1:2000
• Key Features:
• Direct market access
• Lower spreads and faster execution
• Target User Profile: Advanced and institutional traders
• Trading Instruments Available: Forex, commodities, indices, and cryptocurrencies

3. Islamic Accounts

• Availability: Available for Standard and ECN accounts
• Key Features: Swap-free options to comply with Islamic finance principles
• Eligibility Requirements: Must provide proof of eligibility for Islamic accounts

4. Demo Accounts

• Minimum Deposit: Virtual funds (typically $10,000)
• Spread/Commission Structure: Similar to live accounts
• Key Features:
• Risk-free trading environment
• Access to all trading instruments
• Target User Profile: Beginners looking to practice trading strategies

Account Type Comparison Table

Recommended Account Types by Trader Level

• Beginners: Micro Account or Demo Account
• Intermediate Traders: Advantage Account
• Advanced Traders: ECN or ECN Zero Accounts
• Institutional Traders: ECN Accounts

Part 2: Detailed fxtm Account Features

Account Features Comparison

Advantages of Each Account Type

• Micro Account:
• Low minimum deposit
• Instant execution
• Ideal for beginners
• Advantage Account:
• Tight spreads
• Access to advanced trading tools
• Suitable for intermediate traders
• ECN Account:
• Direct market access
• Lower spreads
• Ideal for high-frequency trading
• ECN Zero Account:
• No commission fees
• Extremely tight spreads
• Best for professional traders
• Islamic Account:
• Compliance with Islamic finance
• No swap fees
• Available for all account types
• Demo Account:
• Risk-free trading
• Practice without financial commitment
• Access to all trading instruments

Disadvantages of Each Account Type

• Micro Account:
• Limited features compared to other accounts
• Higher spreads
• Advantage Account:
• Requires higher minimum deposit
• Commission fees may apply
• ECN Account:
• Higher minimum deposit required
• Commission fees can add to trading costs
• ECN Zero Account:
• Requires higher minimum deposit
• Not suitable for all trading strategies
• Islamic Account:
• Limited availability
• May have additional documentation requirements
• Demo Account:
• No real financial gains
• Limited duration for practice

Part 3: fxtm Account Registration Requirements

Eligibility Criteria

• Age Requirements: Must be at least 18 years old.
• Geographic Restrictions: FXTM operates in multiple countries, but some regions may have restrictions.
• Prohibited Countries: Specific countries may be restricted from opening accounts due to regulatory reasons.

Identity Verification Documents Needed

• Proof of Identity: Government-issued ID (passport, national ID card).
• Proof of Residence: Utility bill, bank statement, or government document showing your name and address.

Additional Documentation for Professional Accounts

• Additional financial documents may be required for professional accounts, including proof of trading experience or financial status.

KYC/AML Compliance Procedures

FXTM adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, requiring all clients to verify their identity and residence before trading.

Verification Time Frames

Account verification typically takes 1-3 business days, depending on the completeness of the submitted documents.

Part 4: Step-by-Step fxtm Account Opening Guide

Detailed Step-by-Step Registration Process

1. Visit Website and Click Registration: Go to the FXTM website and click on the 'Open Account' button.
2. Personal Information Entry: Fill in your personal details, including name, email, and phone number.
3. Choose Account Type: Select the account type that best suits your trading needs.
4. Set Trading Preferences: Specify your trading preferences, including leverage and base currency.
5. Document Upload: Upload the required identification and proof of residence documents.
6. Account Verification: Wait for the verification process to complete.
7. Fund Your Account: Deposit funds into your trading account using your preferred payment method.
8. Start Trading: Log in to your trading platform and begin trading.

Desktop vs Mobile Registration Differences

The registration process is similar on both desktop and mobile platforms, with a user-friendly interface designed for ease of use.

Common Registration Issues and Solutions

• Document Rejection: Ensure documents are clear and meet FXTM's requirements.
• Email Verification Issues: Check your spam folder if you do not receive the verification email.

Average Account Approval Time

Typically, account approval takes 1-3 business days, depending on the completeness of the submitted documents.

How to Upgrade/Downgrade Account Types

To change your account type, contact FXTM customer support for assistance with the process.

Part 5: fxtm Demo Account Guide

Demo Account Features and Benefits

• Risk-Free Trading: Practice trading strategies without financial risk.
• Access to All Instruments: Trade a variety of instruments available in live accounts.
• Educational Tool: Ideal for beginners to learn the trading platform and market dynamics.

How to Open a Demo Account

1. Visit the FXTM website.
2. Click on 'Open Demo Account.'
3. Fill in the required personal information.
4. Set your trading preferences.
5. Submit the form to receive your demo account credentials.

Demo Account Limitations

• Virtual Balance Amount: Typically set at $10,000.
• Duration/Expiry of Demo Accounts: Demo accounts may expire after a certain period of inactivity.

Demo vs Live Account Differences

• Virtual vs Real Funds: Demo accounts use virtual funds, while live accounts involve real money.
• Market Conditions: Live accounts experience real market conditions, while demo accounts may not reflect actual market volatility.

Part 6: fxtm Islamic Account Details

Swap-Free/Islamic Account Availability

FXTM offers swap-free accounts compliant with Islamic finance principles, available for both Standard and ECN accounts.

Eligibility Requirements

Clients must provide proof of eligibility for Islamic accounts, which may include a declaration of their Islamic faith.

Differences from Standard Accounts

Islamic accounts do not incur swap fees, making them suitable for Muslim traders.

How to Apply for Islamic Account

When registering, select the option for an Islamic account and provide the necessary documentation.

Restrictions or Special Conditions

Islamic accounts may have specific conditions regarding trading strategies and instruments.

FAQs – fxtm Account Types & Opening

1. What account types does fxtm offer？

• FXTM offers Standard, ECN, Islamic, and Demo accounts.

1. What is the minimum deposit for each account type？

• Micro Account: $50, Advantage Account: $500, ECN Account: $500, ECN Zero: $500.

1. How long does fxtm account verification take？

• Account verification typically takes 1-3 business days.

1. Does fxtm offer demo accounts？

• Yes, FXTM offers demo accounts for practice trading.

1. Can I have multiple account types with fxtm？

• Yes, clients can open multiple account types.

1. Does fxtm offer Islamic/swap-free accounts？

• Yes, FXTM provides Islamic accounts that comply with Islamic finance principles.

1. What documents do I need to open a fxtm account？

• A government-issued ID and proof of residence are required.

1. Can I change my account type after registration？

• Yes, you can contact customer support to change your account type.