FREQUENTLY ASKED QUESTIONS
NEW WITH FXM
Simply go to accounts page, choose the capital size that suits your trading style and complete your registration by paying the fees associated with the account. And You will receive your credentials within 24 hours!
FXM is a unique opportunity for serious traders, we know clearly that psychology is the most important key to gain consistency, we are with you not against you for that reason, we are the only company that pays you a guaranteed salary even if you end your month without any profits, Just focus on your trading and let us care about your bills.
No, we are not a broker and we don’t accept deposit .
We are located in London, UK
Absolutely. FXM is registered in England and our company is governed by the laws in the country. We would like our traders to feel comfortable and work in a stress-free environment with the best trading conditions. You can follow our social media on Facebook and Instagram. Also follow our testimonials across social media and Trust Pilot
After you pass both Phase 1 and Phase 2 of the challenge, you receive a funded account. On the Funded Account, 80% profit split can be withdrawn. Every month and on the top of that you will receive a fixed guaranteed salary even if you DON’T MAKE ANY PROFIT ex in a 50000 $ live account you end the month with – (negative) 1500 $ You still get paid your guaranteed salary for this month
Traders from all around are welcome. You should be at least 18 years old and know how to trade with proper risk management, FXM is the right place to be
The relationship between a trader and our partnered Proprietary Firm is based on the contractual Agreement that we will send you for signing after completing the FXM challenge and approval steps This contractual Agreement is a legal document which governs the relationship between the trader and FXM
Yes 100% FXM pay a guaranteed salary every month to our traders even if they don’t make any profits. Salary starts from minimum 150 $ to 750 $, please check our How It Works page for the plans and salary per account size.
This is only applicable when you have passed your evaluation phases and get a live funded account with us
No. We are responsible for the funding and liable for the losses in your trading account. Our traders will not be charged as a result of losing trades.
FXM FUNDING RULES
Phase 1 – 10% target, 30 days max and minimum 5 trading days
Phase 2 – 5% target, 60 days max and minimum 5 trading days
Daily loss cannot exceed 5% and max loss cannot exceed 10%
Either of daily loss or maximum loss hitting will breach your account automatically and the account will be closed.
We also have specific rules for news, hedging and scalping, which are checked manually upon completion of Phase 1 or Phase 2
You may use your email ID and your trading account password to access your client area and dashboard.
Yes, any violation of our rules (daily loss, news rule, scalping, etc) at any point of time will result in breach of your account, regardless if the account is in profit.
You can get a free retake. Retakes can be unlimited. Conditions for the retake are
– account balance on challenge in profit (over the starting balance even by 1 dollar)
– account is active and not breached daily or max loss limits or any of our rules
– maximum trading period is expired
All of the above should be satisfied
Congratulations on passing step 1 of your Challenge To proceed to next step, please contact us at [email protected] we will proceed immediately to prepare your new account!
Congratulations on passing step 2 of your Challenge To proceed to next and final step, please contact us at [email protected] we will proceed immediately to prepare your Live account!
Yes, trades can be held overnight.
Yes, you can trade news. Manual execution of trades is allowed, however pending orders (limit or stop orders) placed before news is not allowed.
we accept payments VIA credit card and cryptocurrency. If this not working for you, we can accept bank transfer as well by contacting us for the details.
Step 1 should reach a profit target of 10%, with maximum daily loss 5% and maximum overall drawdown 10%, with a minimum of 5 trading days
Step 2 should reach a profit target of 5%, with maximum daily loss 5% and maximum overall drawdown 10%, with a minimum of 5 trading days
If you breach any of the drawdown / loss or other trading rules as per our FAQ, your particular account will be automatically considered as not progressing and be invalid. You will not be eligible to move further in the Evaluation process. You can always restart your challenge by ordering a new challenge from our website. Please note FXM provides discount for repeat challenges and you may contact us for the same.
We offer an unlimited number of retries.
Your Challenge will start on the day you make your first trade.
No, you don’t need to wait for the entire duration of the challenge steps. when you reach the profit target and have completed a minimum of 5 trading days, just contact us at [email protected] to let us know that you are ready for the next step! Make sure to include your name and account number in your email.
Yes, you are allowed to hold trades over the weekend.
Only allowed if you are copying your own trades from another account that you already own. Copying trades from another source is not allowed, we are interested in your skills not a third party.
An EA can be used if it’s for copying trades from another account you hold or if it’s for risk management, as long as you adhere to our other rules. No other automated trading bot or EA are permitted to be used, including high frequency, arbitrage or tick scalping.
You can trade more than 200 instruments including currencies, commodities, indices, crypto and some US stocks.
Yes, you are only allowed 2 hedged positions at time. you have to close the first hedged position, to be able to open another one. Straddling is not allowed as stated also in our Terms of Service – Section 8.
Although we don’t have any rules regarding lot sizes or trading volumes, however your average of all trades overall in one trading month should not be less than 1 minute. Even though a few trades can be closed within one minute, but if majority of the trades which are in profit are held for less than a minute, then your account will be considered as null and void. This means that if you have achieved more than 60% of your profit requirement with trades closed within one minute, the account does not pass.
Yes, we offer a scaling plan every 3 months, we increase your account size by 20% and we increase your salary by 25% as well
Example in a 50000 $ live account and a monthly salary of 250 $
after 3 months you will start trading a live account of
60000 $ and you will receive a monthly salary of 312.5$
In order for us to process your monthly salary, you should have a profit of 7% in total over the first 3 months of your funded trader period. Your salary will be given every month starting from the first month, however at the end of first 3 month period, if you have not achieved 7% profits on your funded account, then we will no longer pay the salary.
If you’re funded account is more than 9.5% in drawdown, then you will not be eligible for salary for the month.
You may request your first profit split 30 days after starting your funded account and then every 2 weeks thereafter. Your salary can be requested 30 calendar days from the first date of starting your funded account and every 30 days thereafter, as long as you are eligible (see our profit target rules on funded account)
We are the first firm in the market that offers you a monthly salary as long as you have the funded account and you reach the profit target. Hence there is no refund on your challenge fee
You have 3 months to make only 7% profits no matter if you achieve this in one week or one month or 2 months the most important point is to end the 3rd month period with a profit of 7%
The payouts are processed within 1 – 2 business days upon confirming the invoice. Our payout partner is Deel and you must have an account with them. We will process the payout to your Deel account and you can withdraw from there using any of the multiple ways they provide (Eg: Bank transfer, Crypto, Paypal, etc)
You can have multiple accounts up to maximum of 400k USD. We can merge multiple accounts upon request, as long as you are at the limit of maximum 400K USD
Leverage on all accounts is 1 : 100