At the same time, FXTM doesn’t keep its focus only on the FX niche but offers the ability to trade on numerous shares. Both brokers also offer some stock indices and commodities as well as for cryptocurrencies as CFDs. The minimum deposit required to open an Active Trader account is $25,000, while Forex spreads start from 0.2 pips on major pairs such as EUR/USD. At FxPro, alternative funding options include UnionPay and direct money transfer broker-to-broker (B2B). The broker-to-broker method allows for hassle-free and quick transfer of your existing forex trading account to FxPro.
What is a market?
Both FxPro and FXTM offer MetaTrader 4, a popular trading platform among forex traders. FxPro provides advanced tools and features on MT4, enhancing the trading experience. FXTM, on the other hand, offers a user-friendly interface on MT4, suitable for both beginners and experienced traders. For more insights on the best MT4 brokers, fxtm forex broker review check out this detailed review of top MT4 brokers. On the free-commission trading accounts (ECN zero account and Pro account), the FXTM spread starts from 0.0 pips, respectively 1.5 pips on major forex pairs. Even so, there are stringent requirements (minimum account balance of USD 25,000) to benefit from lower spreads.
Which Broker Is Better For MetaTrader 4?
Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not https://forexhero.info/ be construed or interpreted as financial advice. Any examples given are provided for illustrative purposes only and no representation is being made that any person will, or is likely to, achieve profits or losses similar to those examples. DailyFX Limited is not responsible for any trading decisions taken by persons not intended to view this material.
- Below is the example of their typical contract specification for US500 (S&P500).
- There are no trading commissions involved – only an all-inclusive bid-ask spread.
- Although crypto products are offered by both brokers, retail traders in the UK are no longer able to trade cryptocurrencies.
- With a substantially larger selection of base currencies to choose from, XM offers the most convenient funding methods overall.
- On the other hand, FXTM’s MT4 platform is praised for its speed and reliability.
- However, kindly note that the dividend adjustment takes place before the market opening of the ex-dividend date.
Does Either Broker Offer Spread Betting?
To deposit and withdraw funds from your FXTM trading account, use a credit card, e-wallet or bank transfer payment method. XM customers can get in touch with the online broker via live chat, phone or email. Customer support representatives are available 24 hours a day, 5 days.
If you’re interested in social or copy trading, here’s a list of the best copy trading platforms. While FXTM supports more base currencies and offers more payment options, both brokers cover the most popular online payment methods. Both forex brokers aim to offer secure and easy ways to fund your trading account.
Following FCA and CySEC regulations, traders receive investor protection up to £85,000 and €20,000, respectively. The investor protection insurance schemes ensure that in the case that XM or FXTM become insolvent, traders can receive a certain amount of compensation to cover losses. If you are trading with FXTM or XM outside of Europe and the UK, you will not receive protection via investor compensation schemes. As leverage enhances gains and magnifies losses, clients should be aware of the high risk of trading with such significant leverage. FXTM offers a tiered system that is also dependent on an order’s value, yet the leverage offered is fixed. MT4 and MT5 are compatible with a range of devices, with desktop and webtrader platforms available, as well as mobile trading apps for Android and iOS devices.
I have been using this broker for about five years and I can say so far they have been fantastic. Their customer service is top notch and they are very responsive and ready to help at anytime. Trade on a trusted platform with rich, beautiful charts and the functionality traders at your level expect.
This means that both FXTM and FxPro are offering spreads that are either on par with or slightly below the industry average. XM has a minimum deposit requirement of $5, which is lower than FTXM’s $10 requirement. Both brokers’ amounts apply globally, and where they differ is in the payment methods available.
No, FXTM does not offer ZAR account base currency option to their South African clients. But you can deposit in South African Rand (ZAR), which will be converted to your account’s base currency according to conversion based on the latest exchange rates. FXTM offers trading services from two trading platforms, MetaTrader4 (MT4) and MetaTrader5 (MT5). FXTM is better for beginner traders because of its diverse account types and superior educational resources. Overall, both forex brokers are well prepared to serve and assist clients with their needs via a professional customer support service.
Since FXCM and FXTM have different pricing models, we shall present a comparison of minimum spreads offered on a selection of financial instruments. For FXCM, we have used spreads offered on its Active Trader commission-based trading accounts, while for FXTM, we have used spreads offered on its ECN trading accounts. XM’s Zero Account is similar to an ECN account with minimum spreads of 0.0 pips, and as with all account types, XM guarantees no requotes on all orders. As traders gain access to ECN-style spreads, commission fees are $3.5 per side per $100,000 traded.