TradeFTM-Overview of Minimum Deposit, Leverage, Spreads

General Information & Regulation

TradeFTM, a trading name of TradeFTM Limited, is allegedly an unregulated ECN forex broker based in London, the United Kingdom that claims to provide its clients with over 140 tradable financial instruments with flexible leverage up to 1:500 and variable spreads from 0.6 pips on the CTrader trading platform, as well as a choice of eight different live account types and 24/5 customer support service.

Market Instruments

TradeFTM advertises that it offers more than 140 trading products, including forex, commodities (metals, etc.), stock CFDs and spot indices.

Account Types

There are eight live trading accounts offered by TradeFTM, namely Micro, Mini, Gold, Professional, ECN Classic, ECN Gold, ECN VIP and ECN Elite. Opening a Micro account requires the minimum initial deposit amount of $200, while the other seven account types have much higher minimum initial capital requirements of $500, $2,000, $5,000, $10K, $25K, $50K and $100K respectively.

Leverage

Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Micro account can enjoy the maximum leverage of 1:500, the Mini, Gold and ECN Classic members have the leverage of 1:400, the Professional, ECN Gold and ECN VIP holders have the leverage of 1:200, while the leverage on the ECN Elite account is 1:100. Inexperienced traders are advised not to use too much leverage since leverage magnifies gains and losses.

Spreads & Commissions

TradeFTM claims that different account types can enjoy quite different spreads and commissions. Specifically, the spread on the Micro account starts from 2.4 pips, the Mini account from 2 pips, the Gold account from 1.8 pips, the Professional account from 1.1 pips, the ECN Classic, ECN Gold and ECN VIP accounts from 1 pip and the ECN Elite account from 0.6 pips. As for commissions, there is no commission for forex pairs on the Micro, Mini, Gold and Professional accounts, while there is a $25 commission per lot on the ECN Classic account, $15 on the ECN Gold and ECN Elite accounts and $10 on the ECN VIP account.

Trading Platform Available

The platform available for trading at TradeFTM is CTrader, compatible with desktop Windows, mac Os, Web and mobile devices. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

Deposit & Withdrawal

TradeFTM says to accept deposits via Visa, American Express, JCB, DISCOVER, MasterCard, Maestro, Visa Electron, Diners International, PayPal, Skrill, Neteller and Bank Transfer; and withdrawals with Visa, MasterCard, Maestro, PayPal, American Express, Skrill, Neteller and Bank Transfer. The minimum initial deposit requirement is said to be $200. The broker also charges the withdrawal fee, 2% plus $7.5 for Bank Transfer and credit/debit card withdrawals, 3% plus $7.5 for Amex withdrawals and 1% for Skrill and Neteller withdrawals.

Bonuses

TradeFTM claims to offer a welcome bonus for different account types. For example, no welcome bonus for the Micro and ECN Elite accounts, 20% for the Mini account, 30% for the Gold account, 40% for the Professional account, 5% for the ECN Classic account, 7% for the ECN Gold account and 10% for the ECN VIP account. However, the bonuses only can be withdrawn when a minimum trading volume of $20,000 for every dollar is executed.

Customer Support

TradeFTMs customer support can be reached by telephone: +44 20 8144 1010, email: support@tradeftm.com, info@tradeftm.com or send messages online to get in touch. You can also follow this broker on social media platforms such as Facebook. Head Office: 180, Whitton Road, Hounslow, London, England, TW3 2ES; 130 Old Street, London, England, EC1V 9BD.