The best alternatives to FXTM are
- FP Markets - Australian CFD and forex broker
- Markets.com - Global CFD and forex broker
- XM - Global CFD and forex broker
- XTB - Global CFD broker
Let's see in a bit more detail how the FXTM alternatives compare to FXTM and each other:
| FXTM | FP Markets | Markets.com | XM | XTB | |
|---|---|---|---|---|---|
| Overall score | 4.2 | 4.4 | 4.3 | 4.4 | 4.8 |
| Fees score | 3.5 stars | 3.9 stars | 2.7 stars | 4.1 stars | 4.4 stars |
| Account opening score | 5.0 stars | 5.0 stars | 5.0 stars | 5.0 stars | 5.0 stars |
| Deposit and withdrawal score | 4.1 stars | 4.7 stars | 5.0 stars | 5.0 stars | 4.5 stars |
| Web platform score | 2.8 stars | 2.8 stars | 3.8 stars | 2.8 stars | 4.4 stars |
| Markets and products score | 2.7 stars | 2.4 stars | 2.9 stars | 2.5 stars | 2.9 stars |
|
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75.31% of retail CFD accounts lose money |
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67% of retail CFD accounts lose money |
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75.59% of retail CFD accounts lose money |
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76% of retail CFD accounts lose money |
Why are these brokers considered good alternatives to FXTM? There are many areas based on which FXTM can be compared with others. When we say a given online broker is a good alternative to FXTM we mean these brokers are comparable in the following areas:
- The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
- The type of clients they target, i.e. beginners, experienced investors, or day traders.
Not sure which broker to choose? For a tailored recommendation, check out our broker finder tool. Answer 4 simple questions and get a list of the most relevant brokers.
FXTM alternatives recommendations
Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:
- FXTM is recommended for forex traders familiar with the metatrader platform
- FP Markets is recommended for forex and cfd traders familiar with the metatrader and iress trading platforms
- Markets.com is recommended for traders looking to venture into cfd trading
- XM is recommended for forex and cfd traders who prefer metatrader platforms and seek great account opening
- XTB is recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service
Important factors of finding FXTM alternatives
So far BrokerChooser has reviewed 101 online brokers in detail, which gives this comparison a solid starting point.
Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we
- open a live account
- check over 100 criteria, with weighting based on readers' preferences
- refresh data regularly
Whether FXTM or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:
Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. FXTM is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost FXTM alternative.
Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At FXTM this is not a problem as you can have it ready on the same day you registered.
Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at FXTM, this might not be the case at its alternatives.
Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.
Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given FXTM alternative is a must.
Now let's dive into the details of how FXTM and its alternatives perform in the most important areas!
FXTM alternatives
FP Markets
FP Markets is an Australian CFD and forex broker founded in 2005. It is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority of St. Vincent and the Grenadines.
FP Markets is considered safe because it has a long track record and is regulated by the top-tier ASIC.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.31% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for forex and cfd traders familiar with the metatrader and iress trading platforms
| Pros | Cons |
|---|---|
| • Low forex fees | • Limited product portfolio |
| • Easy/fast account opening and funding | • Outdated web and desktop platform |
| • Great education tools | • Imperfect research tools |
Fees
FP Markets has low forex and non-trading fees and charges no inactivity fee. On the flip side, there is a high fee for international bank withdrawals.
| Pros | Cons |
|---|---|
| • Low trading fees | • High fee for international bank withdrawals |
| • Low non-trading fees | |
| • Low forex fees |
| FP Markets | FXTM | |
|---|---|---|
| Apple benchmark fee | $32.2 | $29.5 |
| Vodafone benchmark fee | $30.6 | - |
| EURUSD benchmark fee | $5.9 | $8.3 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Opening an account at FP Markets is super quick and fully digital. The minimum deposit for forex trading is not excessive, but some account types require at least a AUD 1,000 balance.
| Pros | Cons |
|---|---|
| • Fast | • High minimum balance for CFD/stock accounts |
| • Fully digital | |
| • Low minimum deposit for forex accounts |
| FP Markets | FXTM | |
|---|---|---|
| Minimum deposit | $100 | $50 |
| Time to open account | 1 day | 1 day |
If you are interested more in FP Markets minimum deposit, this overview will help you.
Deposit and withdrawal
FP Markets offers a wide range of deposit and withdrawal options, but some withdrawal methods come with a fee.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Some withdrawal options are not free |
| • No deposit fee | |
| • Several account base currencies |
| FP Markets | FXTM | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $3 |
Web trading platform
FP Markets's web trading platform is provided by MetaTrader. It's multilingual and highly customizable, but it lacks a two-step login and price alerts, and the design is outdated.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | • No price alerts |
| • Order confirmation | • Outdated design |
| FP Markets | FXTM | |
|---|---|---|
| Web platform score | 2.8 stars | 2.8 stars |
| Mobile platform score | 3.8 stars | 3.8 stars |
| Desktop platform score | 3.4 stars | 3.4 stars |
Learn more about FP Markets's web trading platform in the detailed FP Markets review.
Markets and products
FP Markets offers a great portfolio of CFDs, forex and cryptos. You can trade Australian real stocks, too. Other stocks, ETFs, mutual funds, bonds, options or futures are missing, though.
| FP Markets | FXTM | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | No | No |
| Forex | Yes | Yes |
| Funds | No | No |
| Bonds | No | No |
| Options | No | No |
| Futures | No | No |
| CFDs | Yes | Yes |
| Crypto | Yes | No |
Verdict
FP Markets is a great CFD and forex broker regulated by the top-tier Australian Securities and Investments Commission (ASIC). It offers low forex fees and does not charge an inactivity fee. Both account opening and depositing are fast, and you'll find high-quality educational tools.
On the downside, the product portfolio is limited, as it covers only CFDs (equities, indices, metals) and forex instruments. The MT4 web and desktop trading platforms have outdated designs. Research tools at FP Markets, while impressive in some respects, could still use some additional features.
Feel free to try FP Markets as the account opening is easy and there are no inactivity fees.
| FP Markets | |
|---|---|
| Summary | FP Markets is an Australian CFD and forex broker regulated by the top-tier ASIC. |
| Fees score | 3.9 stars |
| Recommended for | Forex and CFD traders familiar with the MetaTrader and IRESS trading platforms |
FXTM alternatives
Markets.com
Markets.com is a global CFD and forex broker founded in 2008. It is regulated by several financial authorities including the Cyprus Securities and Exchange Commission (CySEC) and the UK's Financial Conduct Authority (FCA).
Markets.com offers services and platforms under two brands. The Marketsi platform is for share trading and investing, while Marketsx is the platform used for CFD trading. In this review, we focus on Markets.com's flagship CFD trading services, using the Marketsx platform.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for traders looking to venture into cfd trading
| Pros | Cons |
|---|---|
| • Free and fast deposit and withdrawal | • High forex fees |
| • Easy and fast account opening | • Limited product portfolio |
| • Great tools for learning and research | • Platforms lack some common features |
Fees
Markets.com charges no account, deposit or withdrawal fees. However, the positives end there as it has high forex fees, rather average CFD fees, and also charges an inactivity fee.
| Pros | Cons |
|---|---|
| • No withdrawal fee | • High forex fees |
| • Inactivity fee |
| Markets.com | FXTM | |
|---|---|---|
| Apple benchmark fee | $12.2 | $29.5 |
| Vodafone benchmark fee | $40.3 | - |
| EURUSD benchmark fee | $16.2 | $8.3 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
Account opening at Markets.com is seamless, fast and fully digital. You can open your trading account within a day.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| Markets.com | FXTM | |
|---|---|---|
| Minimum deposit | $100 | $50 |
| Time to open account | 1 day | 1 day |
If you are interested more in Markets.com minimum deposit, this overview will help you.
Deposit and withdrawal
Markets.com provides multiple deposit and withdrawal options free of charge on a user-friendly interface.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | None |
| • Free withdrawal | |
| • No deposit fee |
| Markets.com | FXTM | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $3 |
Web trading platform
Markets.com's web trading platform is easy to use, offering great search functions and price alerts. Still, it lacks some important features such as two-step login or a fee report.
| Pros | Cons |
|---|---|
| • User-friendly | • No clear fee report available |
| • Good search function | • No two-step (safer) login |
| • Price alerts | • Limited customizability (for charts, workspace) |
| Markets.com | FXTM | |
|---|---|---|
| Web platform score | 3.8 stars | 2.8 stars |
| Mobile platform score | 4.3 stars | 3.8 stars |
| Desktop platform score | 3.4 stars | 3.4 stars |
Learn more about Markets.com's web trading platform in the detailed Markets.com review.
Markets and products
Markets.com's product portfolio covers CFDs, forex and real stocks. However, some other popular asset classes such as ETFs, options or futures are not available.
| Markets.com | FXTM | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | No | No |
| Forex | Yes | Yes |
| Funds | No | No |
| Bonds | No | No |
| Options | No | No |
| Futures | No | No |
| CFDs | Yes | Yes |
| Crypto | Yes | No |
Verdict
Markets.com is a CFD broker regulated by several authorities globally, including the top-tier FCA in the UK and ASIC in Australia.
Account opening at Markets.com is seamless and fast; it has good research tools and great customer service; and it is regulated by multiple top-tier financial authorities.
On the negative side, forex trading fees are high, and product selection mostly covers only CFDs and forex. We also missed some important features on the trading platforms, such as two-step authentication, or price alerts on the web platform.
All in all, Markets.com may be a good choice for CFD and forex traders. As the account opening is super easy, feel free to try it.
| Markets.com | |
|---|---|
| Summary | Markets.com is a brand of Markets.com, a global CFD and forex broker regulated by the UK FCA, Australia's ASIC, CySEC in Cyprus, and South Africa's FSCA, among others. Its operated by Playtech, a subsidiary that is on the London Stock Exchange. |
| Fees score | 2.7 stars |
| Recommended for | Traders looking to venture into CFD trading |
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FXTM alternatives
XM
XM is an online broker whose parent company is Trading Point Holding, a global CFD and FX broker founded in 2009.
XM is available globally and is regulated by three financial authorities: the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the Financial Services Commission of Belize (FSC).
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for forex and cfd traders who prefer metatrader platforms and seek great account opening
| Pros | Cons |
|---|---|
| • Low stock CFD and withdrawal fees | • Limited product portfolio |
| • Easy and fast account opening | • Average forex and stock index CFD fees |
| • Great educational tools | • No investor protection for non-EU clients |
Fees
XM has low trading fees for CFDs and charges no withdrawal fee. On the other hand, forex and stock index fees are only average, and there is a fee for inactivity.
| Pros | Cons |
|---|---|
| • No withdrawal fee | • Inactivity fee |
| • Low stock CFD fees | • Average FX fees |
| XM | FXTM | |
|---|---|---|
| Apple benchmark fee | $5.4 | $29.5 |
| Vodafone benchmark fee | $1.2 | - |
| EURUSD benchmark fee | $8.8 | $8.3 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
XM account opening is hassle-free and straightforward. You may be able to start using your account already on the same day.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • Low minimum deposit |
| XM | FXTM | |
|---|---|---|
| Minimum deposit | $5 | $50 |
| Time to open account | 1 day | 1 day |
If you are interested more in XM minimum deposit, this overview will help you.
Deposit and withdrawal
XM's deposit and withdrawal processes are fast and inexpensive, and offer you several options.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | None |
| • Several account base currencies | |
| • Free wire withdrawal above $200 |
| XM | FXTM | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | Yes | Yes |
| Electronic wallets | Yes | Yes |
| Withdrawal fee | $0 | $3 |
Web trading platform
XM's web trading platform is provided by MetaTrader. It is highly customizable and has a clear fee report. On the other hand, the platform lacks price alerts and the design is outdated.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | • No price alerts |
| • Order confirmation | • Poor design |
| XM | FXTM | |
|---|---|---|
| Web platform score | 2.8 stars | 2.8 stars |
| Mobile platform score | 3.8 stars | 3.8 stars |
| Desktop platform score | 3.4 stars | 3.4 stars |
Learn more about XM's web trading platform in the detailed XM review.
Markets and products
CFDs and forex are available for all clients, but real stocks only for clients under the IFSC-regulated entity. Popular asset classes, like real ETFs, bonds or options are missing.
| XM | FXTM | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | No | No |
| Forex | Yes | Yes |
| Funds | No | No |
| Bonds | No | No |
| Options | No | No |
| Futures | No | No |
| CFDs | Yes | Yes |
| Crypto | No | No |
Verdict
XM is regulated by several authorities globally, including the top-tier ASIC.
On the plus side, we liked the low stock CFD and withdrawal fees. The account opening process is seamless and hassle-free, and the broker offers a wide range of educational tools of great quality.
XM has some drawbacks though. Its product range is limited to forex and CFDs. Its forex and stock index CFD fees are average, and non-EU customers are not covered by any investor protection.
We recommend XM for those who are interested in CFD and forex trading and prefer MetaTrader trading platforms. Feel free to test it via the demo account.
| XM | |
|---|---|
| Summary | XM is a global forex and CFD broker regulated by Australia's ASIC, CySEC of Cyprus, and Belizean authority IFSC. |
| Fees score | 4.1 stars |
| Recommended for | Forex and CFD traders who prefer MetaTrader platforms and seek great account opening |
FXTM alternatives
XTB
XTB is a global CFD broker with headquarters in London and Warsaw, founded in 2002. The company is regulated by several financial authorities worldwide, including the top-tier UK Financial Conduct Authority (FCA). In addition, XTB is listed on the Warsaw Stock Exchange, and as such is required to regularly disclose its financials.
XTB is considered safe because it has a long track record, is listed on a stock exchange and publishes its financial statements transparently.
HEADS UP: Recent feedback about deposit and withdrawal – The details of depositing by wire transfer might be unclear for some of our users according to recent feedback we received. If you have problems, head to the 'Deposit and withdrawal' section of the review, where we explain how to make a free wire deposit to your XTB account under the section's 'Deposit and fees and options' heading.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service
| Pros | Cons |
|---|---|
| • Low forex CFD fees, commission-free stocks/ETFs for some | • Product portfolio limited mostly to CFDs |
| • Free and fast deposit and withdrawal | • Limited fundamental data |
| • Easy and fast account opening | • Inactivity fee charged |
Fees
Forex fees are low, in many cases there's no withdrawal fee, and some clients are eligible for free stock and ETF trading. However, there's an inactivity fee.
| Pros | Cons |
|---|---|
| • Free stocks/ETFs up to €100k monthly volume | • Inactivity fee |
| • Low forex and stock index CFD fees | |
| • Most bank transfer withdrawals are free |
| XTB | FXTM | |
|---|---|---|
| Apple benchmark fee | $8.5 | $29.5 |
| Vodafone benchmark fee | $10.9 | - |
| EURUSD benchmark fee | $8.3 | $8.3 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX
Account opening
XTB's account opening process is hassle-free, straightforward and fully digital. Your account will be ready for trading on the same day. Continue writing here to see when it goes over t
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • No minimum deposit |
| XTB | FXTM | |
|---|---|---|
| Minimum deposit | $0 | $50 |
| Time to open account | 1 day | 1 day |
If you are interested more in XTB minimum deposit, this overview will help you.
Deposit and withdrawal
XTB deposits and withdrawals are fast, mostly free and can be done via several channels.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Few minor account currencies accepted |
| • Deposits/withdrawals are mostly free | |
| • E-wallets available |
| XTB | FXTM | |
|---|---|---|
| Bank transfer | Yes | Yes |
| Credit/debit card | No | Yes |
| Electronic wallets | No | Yes |
| Withdrawal fee | $0 | $3 |
Web trading platform
XTB's xStation 5 platform is user-friendly, customizable and has a good search function. On the other hand, two-step login is not available.
| Pros | Cons |
|---|---|
| • User-friendly | • No two-step (safer) login |
| • Clear fee report | |
| • Good search function |
| XTB | FXTM | |
|---|---|---|
| Web platform score | 4.4 stars | 2.8 stars |
| Mobile platform score | 4.4 stars | 3.8 stars |
| Desktop platform score | 4.4 stars | 3.4 stars |
Learn more about XTB's web trading platform in the detailed XTB review.
Markets and products
XTB's default selection includes only CFDs. Some European clients can also trade real stocks and ETFs. Popular assets like bonds, mutual funds, options or futures are not available.
| XTB | FXTM | |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | No |
| Forex | Yes | Yes |
| Funds | No | No |
| Bonds | No | No |
| Options | No | No |
| Futures | No | No |
| CFDs | Yes | Yes |
| Crypto | Yes | No |
Verdict
XTB is a great CFD broker. It is regulated by several financial authorities globally, including the UK's FCA. The company is listed on the Warsaw Stock Exchange.
On the plus side, XTB's forex CFD fees are low, while many European clients can enjoy commission-free stock and ETF trading up to a €100,000 monthly trade volume. We also liked that the deposit and withdrawal process is fast and mostly free. The account opening process is seamless, hassle-free and quick.
XTB has some drawbacks, though. The product range is mainly limited to CFDs, although real stock and ETF trading is available in some European countries. Fundamental data offered by XTB covers only a few basics such as P/E. Lastly, there is an inactivity fee charged.
We recommend XTB for clients who prefer forex or CFD trading and also want to enjoy great deposit and withdrawal options along with fast account opening. Feel free to test it using a demo account.
| XTB | |
|---|---|
| Summary | XTB is a global CFD broker, listed on the Warsaw Stock Exchange. XTB is regulated by many financial authorities globally, including the top-tier FCA. |
| Fees score | 4.4 stars |
| Recommended for | Forex and CFD traders looking for low fees and great deposit/withdrawal service |
FXTM alternatives
FXTM
Disclaimer: from March 2021, FXTM ends retail operations in the EEA, under CySEC regulation. Only professional clients will be able to use FXTM's services in this region.
FXTM or ForexTime was founded in 2011 and is a global CFD and FX broker. It is regulated by several financial authorities, including the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).
FXTM is considered safe because it is regulated by the top-tier FCA.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Recommended for forex traders familiar with the metatrader platform
| Pros | Cons |
|---|---|
| • Superb customer service | • High CFD fees |
| • Great educational tools | • Inactivity and withdrawal fees |
| • Digital and fast account opening | • Limited product portfolio |
Fees
FXTM's trading fees are low for forex, but average for CFDs. There is also a withdrawal fee.
| Pros | Cons |
|---|---|
| • Low trading fees | • Withdrawal fee |
| • Low forex fees | • Average CFD fees |
| • Low financing rate |
| FXTM | FP Markets | Markets.com | XM | XTB | |
|---|---|---|---|---|---|
| S&P 500 index CFD fee | $1.7 | $0.7 | $3.3 | $1.4 | $1.5 |
| Europe 50 index CFD fee | $1.9 | $1.6 | $2.2 | $2.0 | $1.8 |
| EURUSD benchmark fee | $8.3 | $5.9 | $16.2 | $8.8 | $8.3 |
| GBPUSD benchmark fee | $7.0 | $4.1 | $17.1 | $6.4 | $5.8 |
Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stock and $20k for FX
Account opening
FXTM account opening is fully digital, easy and fast. Your account will be ready within 1-2 business days. There are also a lot of account types you can choose from.
| Pros | Cons |
|---|---|
| • Fast | None |
| • Fully digital | |
| • User-friendly |
| FXTM | FP Markets | Markets.com | XM | XTB | |
|---|---|---|---|---|---|
| Minimum deposit | $50 | $100 | $100 | $5 | $0 |
| Time to open account | 1 day | 1 day | 1 day | 1 day | 1 day |
Learn more about FXTM minimum deposit here.
Deposit and withdrawal
FXTM offers a great variety of deposit and withdrawal options. Almost everything is available, including credit cards, bank transfer and electronic wallets. The main disadvantage is that FXTM charges a fee for most withdrawal types.
| Pros | Cons |
|---|---|
| • Credit/Debit card available | • Most of the withdrawal options have a fee |
| • No deposit fee | |
| • Quick deposit and withdrawal - within 3 days |
| FXTM | FP Markets | Markets.com | XM | XTB | |
|---|---|---|---|---|---|
| Bank transfer | Yes | Yes | Yes | Yes | Yes |
| Credit/debit card | Yes | Yes | Yes | Yes | No |
| Electronic wallets | Yes | Yes | Yes | Yes | No |
| Withdrawal fee | $3 | $0 | $0 | $0 | $0 |
Web trading platform
The web trading platform of FXTM is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. On the other hand, it lacks a two-step login and price alerts, and the design is outdated.
| Pros | Cons |
|---|---|
| • Clear fee report | • No two-step (safer) login |
| • Good customizability (for charts, workspace) | • No price alerts |
| • Order confirmation | • Poor design |
| FXTM | FP Markets | Markets.com | XM | XTB | |
|---|---|---|---|---|---|
| Web platform score | 2.8 stars | 2.8 stars | 3.8 stars | 2.8 stars | 4.4 stars |
| Mobile platform score | 3.8 stars | 3.8 stars | 4.3 stars | 3.8 stars | 4.4 stars |
| Desktop platform score | 3.4 stars | 3.4 stars | 3.4 stars | 3.4 stars | 4.4 stars |
Learn more about FXTM's web trading platform in the detailed FXTM review.
Markets and products
FXTM's product selection covers forex and CFDs. Non-EU clients can also trade with real stocks. On the negative side, it lacks ETFs, mutual funds, bonds, options, and futures.
| FXTM | FP Markets | Markets.com | XM | XTB | |
|---|---|---|---|---|---|
| Stocks | Yes | Yes | Yes | Yes | Yes |
| ETFs | No | No | No | No | Yes |
| Forex | Yes | Yes | Yes | Yes | Yes |
| Funds | No | No | No | No | No |
| Bonds | No | No | No | No | No |
| Options | No | No | No | No | No |
| Futures | No | No | No | No | No |
| CFDs | Yes | Yes | Yes | Yes | Yes |
| Crypto | No | Yes | Yes | No | Yes |
Verdict
FXTM is regulated by several financial authorities globally, including the top-tier Financial Conduct Authority (FCA).
On the plus side, customer support gives fast and relevant answers. There are several educational tools, including demo accounts and webinars. The account opening is fully digital and fast.
FXTM has some drawbacks though: it charges high CFD fees, inactivity, and withdrawal fees, and the product range is limited.
As account opening only takes a short time, and customer support is helpful and reliable, feel free to try FXTM.
| FXTM | |
|---|---|
| Summary | FXTM is an international CFD and forex broker, regulated by the UK FCA, CySEC of Cyprus and the Mauritian FSC. It is licensed by South Africa's FSCA. |
| Fees score | 3.5 stars |
| Recommended for | Forex traders familiar with the MetaTrader platform |
FXTM alternatives
Bottom line
Based on our analysis, there are several good alternatives to FXTM. They all offer similar products and target similar customers. Here's a recap of the results in a table.
| Broker | Info | Recommended for |
|---|---|---|
| FXTM | Global CFD and forex broker | Forex traders familiar with the MetaTrader platform |
| FP Markets | Australian CFD and forex broker | Forex and CFD traders familiar with the MetaTrader and IRESS trading platforms |
| Markets.com | Global CFD and forex broker | Traders looking to venture into CFD trading |
| XM | Global CFD and forex broker | Forex and CFD traders who prefer MetaTrader platforms and seek great account opening |
| XTB | Global CFD broker | Forex and CFD traders looking for low fees and great deposit/withdrawal service |
Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.
