Here are the four account types offered by FXTB. Remember that all retail accounts can access leverage up to 1:30. Those who have the capital/organization to apply for a professional account have access to 1:400 leverage.

All of the accounts also get access to insights and analysis from FXTB. The level of analysis available does not differ based on the account type. However, premium accounts have access to more content. Lastly, remember that these are floating spreads and the figures provided here are the lowest possible they can be. As such, actual spreads while trading might be slightly higher.

Basic Account

The basic account can be opened with as little as €250. The floating spread can be as low as 3 pips for certain currency pairs, with EUR/USD being the cheapest of them all. The spread for crude oil begins from $0.12. Basic account holders have access to one free withdrawal (in their lifetime) before FXTB starts charging a fee. The basic account entitles traders to two daily signals and one basic lesson.

Gold Account

Traders need a deposit of at least €25,000 to open a gold account. Here, the spreads can be as low as 2.7 pips for currencies and crude oil spreads begin at $0.10. Gold account holders can make one free withdrawal per month. Gold traders also get access to two basic lessons, two daily signals, and a monthly webinar.

Platinum Account

Platinum account holders must make an initial deposit of at least €100,000. In exchange for this, the spreads are reduced to as low as 2.1 pips for currencies, while the crude oil spread is $0.10. Platinum users can make three free withdrawals every month. Platinum users receive four signals a day, two webinars a month, and three advanced lessons.

VIP Account

The last option we are looking at is the VIP account. It requires an initial deposit of at least €250,000. The spreads go as low as 1.6 pips, with EUR/USD being the cheapest pair to trade. The crude oil spread for FXTB VIPs is $0.08. FXTB VIPs also never have to pay any withdrawal fees. VIPs have access to five monthly webinars, 7 daily signals, and five advanced lessons.

Trading Account Comparison:

Just like almost every other CFD-based brokerage, FXTB does not charge a trading fee. Instead, the brokerage earns its money from the spread that it has on every asset/pair. To learn more about broker fees and how they earn their money, check out our guide to broker fees here .

While the spread offered on FXTB is not that high, there are other brokerages that offer much smaller spreads, especially for the higher-tier accounts.

Deposits are completely free, while withdrawals might be charged depending on the amount withdrawn and the account type. Lastly, there is an account inactivity fee. This means that if there is no activity on the account for a month, FXTB starts charging a fee for maintaining the account.

The good thing about FXTB is that it offers a lot of payment methods. Some of the more prominent ones include bank transfer, PayPal, Skrill, NETELLER, wire transfer, and credit cards. Please note that some of these payment methods may not be available in all countries.

Like many other brokerages, it is possible to withdraw funds using the same payment method used for deposits. However, profits can only be withdrawn to a bank account or an e-wallet. Withdrawal requests are also processed within 24-hours. However, it can take up to five business days for the funds to be deposited in your account depending on the payment method used.

Lastly, remember that there is a $120 minimum withdrawal limit for wire transfers. This limit does not apply to any of the other payment methods.

FXTB offers it’s traders the following trading platforms:

• MetaTrader 4
• Web Trader
• Custom Mobile App

While we have found the platform selection to be a bit underwhelming, it should fit the needs of most traders.

FXTB offers the industry standard 24/5 support, with customer support lines being closed during the weekend.

Customers can contact support either through phone lines, email, or live chat. The major advantage of FXTB is that it offers customer support in multiple languages. Currently, customer support languages include English, Spanish, Italian, Dutch, German, Swedish, and Polish.

The one problem with FXTB is that it does not have a lot of tips and materials on its website for troubleshooting issues. While there is an FAQ page, it is quite basic. As such, traders running into issues will need to make use of one of the methods mentioned above.

Here are all of the additional perks provided by FXTB to its clients:

• A demo account for traders to test their strategy. Users can use a demo account to test the platform too before depositing real currency.
• A lot of educational content, ranging from beginner lessons to advanced charting techniques.
• Multiple daily signals and ideas provided by a team of expert forex traders.
• Monthly webinars for high-tier accounts.
• Mobile apps for both Android and iOS with a customized trading interface.
• A bunch of eBooks that can be used by traders to increase their knowledge and brush up on forgotten concepts.

Pros of FXTB

Here are some of the reasons why you should consider using FXTB:

• Trusted European Broker: FXTB is regulated by CySEC. It operates in almost every European country (Belgium not included) and has a completely transparent process on how it handles deposits, spreads, and withdrawals.
• Learn Away: There are a lot of educational materials that cater to every single level of trader.
• Top-tier Customer Support: The team that can communicate in multiple languages and is available round the clock.
• A Plethora of Payment Methods: There are many e-wallet options not offered by most of the other brokerages. The e-wallets can be used for both deposits and withdrawals.

Cons of FXTB

Despite its robustness, FXTB also has a few flaws. Here are the major ones:

• Higher Spreads: FXTB’s spreads are considerably higher compared to some of the competition, especially for lower-tier accounts.
• Limited Platforms: FXTB only offers web trading and MetaTrader 4. Most of its competitors offer MetaTrader 5 and other platforms such as cTrader.
• Lower Leverage: The leverage offered by FTX for both retail and professional accounts is considerably lower than the competition. However, it is important to note that this is due to regulatory compliance.
• No Islamic Account: Most brokerages offer an Islamic account with no swap fees. FXTB does not have this option.