FXTM VS ETORO
3.8 / 5
Rating breakdown
eToro Overview
Since its foundation in Israel in 2007, eToro has quickly climbed the ladder of the social trading revolution and proudly occupies the leading position as the world’s biggest social trading and investment platform, which is initially introduced in 2010.
3.7 / 5
Rating breakdown
FXTM Overview
FXTM is a leading Forex and CFD broker, which has to date won several coveted awards and trades under the name ForexTime Limited. This broker is regulated by several financial watchdogs across the globe, including the UK’s Financial Conduct Authority (FCA), and it is thus considered a trusted and secure venue for your trading endeavors. Moreover, it enjoys huge popularity amongst traders of all levels, from beginner to pro, and its users consider the user experience it provides as top-notch.| # | Broker's Features | FXTM Availability | ETORO Availability |
|---|---|---|---|
| # | Commissions | ✔ | ❌ |
| # | Hedging | ✔ | ❌ |
| # | PAMM | ❌ | ❌ |
| # | Scalping | ✔ | ❌ |
| # | Accepts US traders | ❌ | ✔ |
| # | 24 hour trading | ✔ | ✔ |
| # | Swaps | ✔ | ❌ |
| # | Demo account | ✔ | ✔ |
| # | Daily analysis | ✔ | ✔ |
| # | Automated trading | ✔ | ✔ |
| # | Mobile trading | ✔ | ✔ |
| # | Trading by phone | ✔ | ✔ |
| # | 1st deposit bonus | ❌ | ❌ |
| # | Forex contests competitions | ✔ | ✔ |
| # | Bonuses Promotions | ✔ | ✔ |
| # | Interest charges on the balance | ❌ | ❌ |
| # | Free education | ✔ | ❌ |
| # | Expert advisors | ✔ | ✔ |
| # | Partnership programs | ✔ | ✔ |
| # | Trust management | ✔ | ✔ |
| # | 24 hour support | ✔ | ✔ |
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at start-business-online.com team collected over 50 data points. For this review, we will compare Fxtm vs Etoro.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. Fxtm offers Online Financial Trading and Investment Services Such as Bitcoin, Forex, CFDs, CFDs on Bitcoin, CFDS on Spot metals, Cryptocurrencycurrency, while Etoro offers Bitcoin.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. Fxtm is Market Maker, ECN, STP, while Etoro is Market Maker, No dealing desk, STP.
Minimum Deposit Requirement: To compare these two FX brokers, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. Fxtm recommended minimum capital is 10, while Etoro has a Minimum Deposit Requirement of 50.
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Fxtm is regulated by CySEC, FCA, IFSC, while Etoro regulated by NFA, CySEC, ASIC, CFTC, MiFID, FCA. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Account currencies: Next lets consider the Account currencies each broker offers. Fxtm offers EUR, USD, GBP, NGN different account currencies for each account types, while Etoro offers EUR, USD, GBP, JPY, CHF account currencies.
Languages Available: Next lets have a look at each broker's different Language options. Fxtm offers English, Russian, over 18 languages supported, while Etoro offers English, French, Spanish, German, Russian, Italian Customer Support Languages.
Payment methods: Next lets have a look at each broker's payment options. Fxtm offers Credit/Debit Cards, Bank Wire Transfer, PayPal, Bitcoin different payment methods for each account types, while Etoro offers Credit/Debit Cards, PayPal, Bank Wire Transfer, Bitcoin payment methods.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, Fxtm makes MT4, MT5, MT4 MultiTerminal, Web available to clients, while Etoro offers eToro webTrader, etoro Openbook, eToro Mobile Trad.
The Verdict: Fxtm or Etoro?
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Since its foundation in Israel in 2007, eToro has quickly climbed the ladder of the social trading revolution and proudly occupies the leading position as the world’s biggest social trading and investment platform. eToro should definitely be the broker of choice for those aspiring or existing traders whose first priority is to engage in social trading, rather than trade independently. The pioneer of the social trading revolution, eToro has spearheaded the impressive growth of social trading and has literally made trading accessible to all, even those who have no idea how it works and how it is done. Complete fee transparency and an abundance of trading account types, which can be tailored to best suit, fit and serve the individual needs and preferences of each client/trader, also render eToro a favorite for millions of traders around the world and allow it to enjoy a good reputation and inspire trustworthiness, which is further enhanced by the fact that it is regulated in multiple different jurisdictions by the pertinent financial authorities.
Objectively, Etoro is more reliable based on our criteria above. Regulations play a huge role in protecting the traders/investors interest as they compel the financial service providers such as forex brokers to act in a fair and ethical manner. Etoro broker is regulated in more major hubs. Etoro offers a wider range of Account currencies. Why does base currencies matter? Because if you fund your account in the same currency as your bank account, currency conversion fees won't be charged. Customer service in your national language might not be a major concern for traders based in English-speaking countries, but it is a defining requirement for traders from other regions such as Asia and South America. Etoro has a wider range of languages in which customer service is offered making the broker more accessible.
What We Really Like on Etoro
eToro offers commission-free stock and ETF trading in Europe and offers low fees for non-EU clients.
Account opening is fast and seamless.
It has innovative features like social trading that lets you copy others.
What We Don’t Like on Fxtm
FXTM charges inactivity and withdrawal fees.
High financing costs for overnight positions
Limited product portfolio
Other Important Factors That Influence Our decision the most
Though FXTM is a reputable and well-established forex brokerage, licensed in several jurisdictions and with an impressive track record, especially when it comes to its endeavors to offer its clients solid forex and trading education, it may not be the first choice for all existing or aspiring traders.
FXTM charges inactivity and withdrawal fees. The financing costs for overnight positions are not the lowest and their calculation is non-transparent at all. The product portfolio is limited as it lacks asset classes, like ETFs, bonds, mutual funds, etc.
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