Generally, the minimum deposit requirement depends on several factors:
Each trading account type has its own features and specifications; i.e. minimum deposit required, spreads, available instruments, execution types, commissions, etc. The choice of account depends on your trading preferences.
You can start trading on the real Forex market with as little as $10 on our Micro MT4 account.
Or deposit $500 and have access to the most number of trading instruments on Advantage or Advantage Plus accounts.
$/€/£ 10, ₦10,000*
$/€/£ 500, ₦80,000*
$/€/£ 500, ₦80,000*
*NGN-denominated accounts are only available for residents of Nigeria.
Read more about our different trading accounts:
Different payment methods or systems have different minimum deposit requirements, which can be higher than the account minimum deposit requirement.
For instance, our Micro account requires a minimum deposit of $10. However, if you're depositing using a certain local payment method, such as UPI transfer that has a minimum deposit limit of $12, you'd need to deposit $12 to start trading. In this instance, the minimum amount is determined by the payment facilitator and not FXTM.
Regional deposit requirements
All clients are able to open all three account types that we offer: Micro, Advantage and Advantage Plus. For some regions, there may be a different minimum deposit requirement and you'll find more information on your MyFXTM dashboard.
Margin is the amount needed to open a new order. You'll need to have enough margin on your account to keep your positions open.
The margin required to open a new position depends on the account leverage, trading volume and the leverage applicable to the trading instruments that you'd like to trade.
For instance, the minimum deposit on an Advantage account is $500. However, if you'd like to buy 3 lots of CRUDE, you would need to deposit $795, explained in the below example.
Notional value = Crude price * Contract Size * Trading Volume
In this example, the notional value for 3 lots of Crude = $73*1000 * 3 lots = $219,000
Margin Required = (100,000 / 500) +(119,000/200) = $795
How much can my second deposit be?
Once you've made your initial deposit and activated your trading account, you're welcome to deposit any amount you'd like. Depending on your account type and location, maximum deposit amounts may apply. If you'd like to deposit more than the stated maximum deposit, you'll need to make the deposits in separate amounts.
Do I need to deposit funds on a demo account?
On demo accounts, you'll be given virtual funds to practice forex trading, so you're not required to make a deposit of any real funds to use on your demo account. If you run out of virtual funds, you can add more practice funds from your dashboard.