We provide trading accounts in USD, EUR, GBP, and NGN (Naira account is available for residents of Nigeria only).
There won't be any conversion rate charged if you deposit using the same currency as your trading account.
Please see the below examples:
- If your trading account is in USD and you are making a deposit in a local currency, the conversion rate will apply as we need to convert your funds into USD when crediting funds to your USD trading account.
- If your trading account is in Naira and your deposit is in Naira, your trading account will be credited in Naira so there will not be any conversion rate charged.
Where can I find the conversion rate?
When you fill out the deposit form, you will have the option to state the deposit amount either in local currency or in USD. Once you input the transfer amount either in USD or local currency, it will show the converted amount.
Alternatively, you can also view our conversion rates table on your MyFXTM Dashboard by navigating to 'My Money' > 'Conversion Rates'.
If your local currency is not listed in the table, it indicates that FXTM do not facilitate currency conversion for that specific currency. Consequently, transferring funds between accounts denominated in different currencies will not be possible.
- For deposits using debit/credit cards and bank wire transfers, as we receive the fund in either USD, EUR, or GBP, the conversion rate is based on the card issuance bank rate.
- For online banking and local transfers, please refer to the conversion rate shown within the MyFXTM dashboard ('My Money' > 'Conversion Rates').
- Your deposit is converted based on the most current conversion rate when we receive the fund and process the transaction, not when you create the deposit request.