FXIM -Overview of Minimum Deposit, Leverage, Spreads

General Information

FXIM, full name is NZ Financial Capital Limited, is allegedly a global forex trading company based in New Zealand and registered in the British Virgin Islands, claiming to provide its clients with the worlds most popular MetaTrader4 trading platform, leverage up to 500:1, variable spreads on 25 types of forex currency pairs, as well as a choice of four different account types and 24/5 customer support service.

Market Instruments

FXIM advertises that it offers a wide selection of forex currency pairs, a total of 25 types.

Account Types

There are four real trading account types offered by FXIM, apart from demo accounts, namely I-ACCOUNT & DebitCard, I-ACCOUNT, MetaTrader4 Account, MetaTrader4 Account & I-ACCOUNT & DebitCard. Opening a real account requires the minimum initial deposit amount of $1,500. Note that the demo account is only effective for 15 days. If traders want to continue demo accounts, they have to apply again.

Leverage

The maximum leverage ratio provided by FXIM is much higher than most brokers, up to 500:1. The leverage can be changed by contacting support@fx-im.com. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads

Spreads are influenced by what type of currency pairs traders are holding. FXIM reveals that the spreads on the MT4 Account are variable. According to the following screenshot, you will find that the spread for EUR/USD or USD/JYP starts from 1.3 pips.

Trading Platform Available

When it comes to trading platforms available,FXIM gives traders the worlds most widely-used MetaTrader4 platform. MT4 is very user-friendly and it allows an independent Expert Advisor (EA) installed in the system to enable automated trading and technical indicators, as well as equipped with 50 technical indicators, outstanding charts and many other convenient functions.

Deposit & Withdrawal

FXIM accepts deposits and withdrawals via I-ACCOUNT and Bank Transfer. The minimum deposit requirement is $1,000, while the minimum withdrawal amount is $250 for wire transfers. However, if you withdraw less than $250, you will have to pay a processing fee of $50 deducted from your account. Note that the broker currently only allows withdrawals into the bank account of the individual making the transaction, and a written withdrawal request must be submitted. Also, some deposit and withdrawal fees will be charged. For I-ACCOUNT, it will charge $3 per transfer, while for Bank Transfer, fees vary depending on different banks. As for the processing time of deposit and withdrawal requests, I-ACCOUNT usually can process within 2 business days, while Bank Transfer requires more time, approximately 4 business days.

Customer Support

FXIM‘s customer support can be reached through email: support@fx-im.com. Company address: Suite 508, 350 Queen Street, Auckland Central, Auckland, 1010, New Zealand. However, this broker doesn’t disclose other more direct contact information like telephone numbers while most brokers offer.