FXTM is a well-established ECN and STP broker which has offices based in South Africa, the UK, Cyprus, and Mauritius. Along with this, FXTM also has corresponding regulation through reputable entities such as FSCA, FCA, CySEC, and FSC in offering its services and solutions to traders from around the world.
When trading with FXTM, Nigerian traders have access to a wide array of financial instruments which are spread across multiple asset classes. In addition, FXTM also boasts with some of the best educational material as well as trading tools, and flexible account types to suit the varying trading needs, objectives, and styles of traders.
Traders are also offered with some of the best trading conditions in the industry, featuring tight spreads, fast execution speeds, and more.
Minimum Deposit Requirements
Nigerian traders can expect low and average minimum deposits required in order to register a live account. The deposit requirements start from $10 and go up to $25,000. A comprehensive breakdown of this is as follows in terms of USD/NGN, on the day of writing.
Cent Account – $10 or 3,600 NGN.
Standard Account – $100 or 36,000 NGN.
Stocks CFD Account – $100 or 36,000 NGN.
ECN Zero Account – $200 or 72,000 NGN.
Stocks Account – $500 or 180,000 NGN.
ECN Account – $500 or 180,000 NGN.
FXTM Pro Account – $25,000 or 9,000,000 NGN.
Depending on which account the Nigerian trader would like to register, they will be required to make the minimum deposit in order to activate and use the live trading account.
Nigerian traders must note that FXTM is a well-regulated and reputable broker. One of the requirements that regulatory entities requires of brokers that it oversees, is that client funds are kept in segregated accounts, separate from the broker account.
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Thus, client funds are kept in accounts which are held with top-tier banks. These funds can only be used towards trading activities and traders can withdraw funds from their account at any given time.
It is for this reason that traders are always urged to only make use of regulated brokers.
How to deposit the minimum requirement amount
Once Nigerian traders have applied for a live trading account, they can follow these few steps to deposit their minimum required deposit:
* Traders can open the ‘Deposits’ page when they log into the MyFXTM by navigating to the ‘My Money Section’.
* Traders can then choose their preferred method of payment and click on ‘Deposit’.
* Next, the trader can select the trading account into which they would like to deposit the funds and complete the necessary fields.
* Lastly, the trader can confirm their deposit details on the next page that opens.
FXTM offers traders with the following payment methods which can be used:
Bank Wire Transfers, and numerous others.
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Nigerian traders must also note that FXTM supports a great variety of deposit currencies which can be selected, including, but not limited to:
ZAR, and more.
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