FXTM can be described as one of the rapidly growing brokers in the industry. The company has a number of offices around the world to cater for the ever–increasing number of clients globally. FXTM is a company that is regulated with Cyprus Securities Exchange Commission. Recently, the company was accredited by the financial conduct Authority in the UK and FSB located in South Africa.
FXTM Nigeria is also referred to as Forextime. It started operation in Nigeria in 2012 and has been flourishing since then. Its offices are located in Ikeja, Lagos and Abuja in Nigeria. The FXTM is an award winning Broker Company that can boast of over 500,000 clients globally.
Trading Accounts offered by FXTM
FXTM offers three standard accounts to its client. These accounts can be opened in Naira, EUR, USD as well as GBP. The types of account are as follows:
- Cent Account
The cent account has the minimum requirement when it comes to deposit amount. With this account, you are eligible to start trading with deposits as low as N1,000 or $5. This type of account allows traders to trade in all major and minor currencies. Also, you can also trade in Spot metals with a leverage that is up to 1:1000. Instant trade execution is guaranteed with this account and the spread begins from 1.5 pips. Also, the margins call is 60 percent and ends at 40 percent with this account.
- Standard Account
This type of account is well known with minimum deposit of N20,000 or $100. This account allow traders to trade in major, minor, fifty nine spot metals, exotic currency pairs and 5 spot CFD. The standard account also allows trades to trade in 3-crypto currencies which are Bitcoin, Ethereum or Litecoin.
- Shares Account
Shares account possesses all the features of the standard account. In addition, it allows you to trade over 180 share CFDs. The Margin requirements for Shares Account is pegged between 3%-10%.
Deposit and withdrawal method
There are lots of easy payment and deposit options on FXTM. Traders have the opportunity to withdraw their funds through five local payment options:
- Withdrawal methods:
- Local Bank Transfer (you get paid within 24hrs in Nigeria at 1.5% fees)
- Perfect Money
- Deposit Method
- Local Bank Transfer (you can get your fund transferred to GT Bank. Diamond Bank, First Bank and Zenith Bank)
- Credit /debit card
- Perfect Money
Benefits of FXTM Nigeria
FXTM is a preferred choice for most traders in Nigeria because of the company’s availability locally. Some of the benefits you should expect when you choose FXTM Company.
- Competitive spread and commission
One of the benefits you stand to enjoy from Forextime is the tight spread with higher deposit account. FXTM offers a spread as low as 0.1 pips with the company’s ECN account. Also, decent spread is available for standard accounts. The Forextime protects their customers against abrupt volume spikes through negative balance protection.
- Availability of Cryptocurrency and Stock Trading
With FXTM standard account, a trader can buy and sell the three well known cryptocurrencies – Bitcoin, Ethereum and Litecoin. Also, there are up to 180 CFDs as well as global stock available for trading on FXTM.
- Demo Account
Forextime provides its customer with a free $100,000 demo account which will allow a new trader to learn and boost their trading skills.
- Free Forex Education
There are free seminars organized by Forextime for beginners as well as expert to get free Forex education in Nigeria.
- Excellent customer support
The company offers round the clock customer support services through local phone calls and e-mails. You can also contact their local offices at Lagos and Abuja for better support services
Phone: + 234 803 4573 593. +234 803 1534 373
E mail: Nigeria@fxtm.com