What Account Types and Fees Does GTMX Offer?
| Account Type |
Target User Group |
Essential Characteristics |
Applicability Notes |
| Standard Account |
Beginners |
Low minimum deposit, basic trading features |
Suitable for new traders to practice |
| Islamic Account |
Islamic traders |
Swap-free, compliant with Sharia law |
Available for those adhering to Islamic finance principles |
| ECN Account |
Experienced traders |
Tighter spreads, lower commissions |
Requires a higher minimum deposit and trading volume |
| Pro Account |
Professional traders |
Lowest spreads, tailored services |
Designed for high-volume traders with significant capital |
Account Opening Process
To open an account with GTMX, users must complete several steps. First, they will need to submit personal information, including basic details such as name, email address, and phone number. Following this, applicants are required to provide employment and financial information to assess their trading knowledge and risk profile. Identity verification is a critical step, necessitating the submission of government-issued identification and proof of address. GTMX allows for account flexibility, enabling users to upgrade to a professional account later if their trading volume increases or their experience grows.
Trading Fees
| Product |
Spread (pips) |
Commission |
Notes |
| Forex (Major Pairs) |
From 1.5 |
$0 |
No commissions on standard accounts |
| Forex (Minor Pairs) |
From 2.0 |
$10 |
Applicable for ECN accounts |
| CFDs (Indices) |
From 1.0 |
$6 |
Commission varies by account type |
| CFDs (Commodities) |
From 1.5 |
$6 |
Standard for ECN and Pro accounts |
| Cryptocurrencies |
Variable |
0.1% |
Depends on market volatility |
Other Fees
GTMX also imposes several other fees that traders should be aware of. Deposit and withdrawal fees may apply, depending on the payment method selected by the user. Inactivity fees could be charged if an account remains dormant for an extended period. Platform usage fees are not explicitly mentioned, but traders should verify if any apply. Overnight interest or swap rates are applicable for positions held overnight, while currency conversion fees may be incurred when trading assets in different currencies.
