XM vs. ForexTime (FXTM) Forex Broker Comparison

Free $100 Forex No-Deposit Bonus

Countless brokers are mushrooming in the forex landscape. You have to conduct your due diligence before making a choice one way or the other. What better way to make an informed decision than to prepare a list of their features?

We bring you a systematic comparison of the Cyprus-based forex broker XM and the ForexTime (FXTM). The comparison is aimed at bringing out the differences in currency and commodity offerings, trading, account types, leverages, and customer care. Let us look at who fared better in XM vs. FXTM debate.

General Overview – XM vs. FXTM

XM

xm best forex broker
Spread: From 0 Pips
Leverage: 500:1
Min Deposit: $5
Regulated: ASIC, CySEC, FCA (UK), IFSC Belize

XM is a group of online regulated brokers headquartered in Limassol, Cyprus. Since its inception in 2009, it has emerged as one of the best forex trading websites when it comes to customer’s data and money. The XM Group is regulated by the Australian Securities and Investments Commission (ASIC) with license number 443670; Belize International Financial Services Commission (IFSC) with license number IFSC/60/354/TS/18; and Cyprus Securities and Exchange Commission (CySEC), with license number 120/10.

FXTM

FXTM headquartered in the same country, Cyprus is managed by Cyprus Securities and Exchange Commission (CySEC) under license number 185/12. Although founded two years later in 2011, the broker has grown to be recognized as one of the leading forex brokers in the EU.

XM vs. FXTM Fees

XM

  • Charges 0% deposit fees
  • Offers commission-free micro-account and standard account
  • Allows minimum withdrawal of $5 without charging fees
  • Accepts a minimum deposit of $5 for micro and standard accounts
  • Charges $7 per lot round turn while opening trade
  • Offers as low as 0.01 LOT Min trade
  • Offers as high as 50 LOT Max trade
  • An inactivity fee of $5 per month after 90 days is applicable

FXTM

  • Charges 0% deposit fees
  • Accepts minimum deposit of $100 for standard MT4 and MT5 accounts
  • Accepts minimum deposit of $25000 for FXTM Pro
  • A fee is applicable on ECN MT4 and ECN MT5 accounts.
  • Does not charge a commission for any account except ECN MT4 and ECN MT5
  • Charges $4 per one lot trading
  • An inactivity fee of $5 per month after 180 days is applicable

Currency and Commodity Offerings

XM

XM vs. FXTM Forex Broker ComparisonXM Group provides access to over 57 FX pairs and CFDs on indices, precious metals, energies, stocks, and commodities on MT4 and MT5. In the commodities market, you trade on cocoa, corn, copper, cotton, soybean, sugar, and wheat.

FXTM

On the other hand, FXTM offers over 59 currency pairs and crosses, which include exotic currencies as well. Trading CFDs on commodities is more suited to customer convenience. And with this idea, it opens access to trade on US Brent oil, US crude oil and US natural gas.

Trading Platform

XM

  • Desktop/Laptop Platform (Windows)
  • Web Interface
  • Social Trading
  • MetaTrader 4 (MT4)
  • MetaTrader 5 (MT5)
  • Mac Platform
  • Mobile/Tablet Apps (Android & iOS)

FXTM

  • Proprietary Platform
  • Desktop/Laptop Platform (Windows)
  • Web Interface
  • Copy Trading
  • MetaTrader 4 (MT4)
  • MetaTrader 5 (MT5)
  • MAC
  • Mobile/Tablet apps (Android & iOS)

Account Types

XM

  • Demo Account
  • Micro Account
  • Ultra-Low Account
  • Standard Account
  • Zero Account
  • Variable Account
  • Shares Account
  • Islamic Account

FXTM

  • Demo Account
  • Standard Account
  • Cent Account
  • Shares Account
  • ECN Account
  • ECN Zero Account
  • FXTM Pro Account
  • NGN Account (only available in Nigeria)

Spreads

XM

With commission-free accounts, XM offers variable spreads that amount to 1.7 pips on EUR/USD. The zero spread account holders get an average of 0.1 pips on EUR.USD. Also, the ultra-low account offers spread that comes down to 0.8 pips.

FXTM

If you have a standard MT4 trading account, your spreads start from as low as 1.6 pips. And on the ECN MT4 and ECN MT5 accounts, the spread provided is 0.1 pips.

Leverage

XM

With XM, you can enjoy flexible leverage that ranges between 1:1 and 888:1. The higher the leverage, the higher is the potential of profit with borrowed trading capital. However, there is also room for loss at the same time, as the rule normally follows.

FXTM

FXTM offers higher leverage ratios than XM. The broker is one of the highest providers of leverage, with the ratio reaching 1:1000. That said, you need to keep a note that the leverage they offer is floating. In other words, as the notional value (size of position) increases, the leverage decreases.

Verdict

XM

Towards the conclusion, we uncover the features exclusive to both brokers. XM Group is secured with 2 global Tier-1 licenses. It has an excellent customer support service that helps new customers start afresh confidently. Putting all together, it owns a Trust Score of 81.00

FXTM

FXTM has no Tier-1 license, but it has 1 global Tier-2 license, same as XM Group. The broker has a trust score of 70.00. As one of the award-winning brokers, it offers customers an almost all-inclusive assortment of instruments, platforms, account types, and resources. This opens doors to flexible, efficient, and convenient trading experience.

So, as you’ve had a close look at all the features, it’s up to you to decide for yourself who wins the XM vs. FXTM battle.

1 Star2 Stars3 Stars4 Stars5 Stars (4 votes, average: 4.75 out of 5)
Loading...
Copyright © 2020. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.