Compare FXTM vs RoboMarkets
What is FXTM? What is RoboMarkets?
FXTM is a global leader in online financial trading and investing, offering CFDs in FX, indices, commodities, and more. FXTM was founded in 2011 and is regulated by the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA) of the UK, the Financial Sector Conduct Authority (FSCA) of South Africa, and the Financial Services Commission (FSC) of Mauritius.
RoboMarkets is an online broker that provides access to trading over 12,000 instruments, including stocks, indices, metals, energy commodities, forex, and cryptocurrencies. RoboMarkets was established in 2013 and is regulated by the CySEC under license number 191/13.
FXTM vs RoboMarkets Regulation Comparison
Both FXTM and RoboMarkets are regulated by the CySEC, which means they have to comply with the European Union’s Markets in Financial Instruments Directive (MiFID) and offer investor protection schemes for their clients.
FXTM has additional licenses from the FCA, the FSCA, and the FSC, which allow it to operate in more jurisdictions and offer higher levels of security and transparency for its clients.
RoboMarkets does not have any other licenses besides the CySEC one, which limits its scope of operations and may pose some restrictions for clients from certain countries.
FXTM vs RoboMarkets Trading Assets Comparison
FXTM offers trading on over 250 instruments across six asset classes: forex, spot metals, shares, indices, commodities, and cryptocurrencies. FXTM also offers investment products such as copy trading and PAMM accounts.
RoboMarkets offers trading on over 12,000 instruments across seven asset classes: stocks, indices, metals, energy commodities, soft commodities, forex, and cryptocurrencies. RoboMarkets also offers investment products such as copy trading and R Trader Strategy Builder.
FXTM vs RoboMarkets Trading Fees Comparison
FXTM charges variable spreads depending on the account type and market conditions. The average spread for EUR/USD on a standard account is 1.3 pips, while on a ECN account it is 0.1 pips. FXTM also charges commissions for ECN accounts ranging from $2 to $20 per lot depending on the account type and trading volume.
RoboMarkets charges variable spreads depending on the account type and market conditions. The average spread for EUR/USD on a pro account is 1.6 pips, while on a prime account it is 0 pips. RoboMarkets also charges commissions for prime and ECN accounts ranging from $2 to $4 per lot depending on the account type and trading volume.
Both brokers offer commission-free trading for stocks on their proprietary platforms: R StocksTrader for RoboMarkets and FXTM Invest for FXTM.
FXTM vs RoboMarkets Account Types Comparison
FXTM offers six account types: standard, cent, shares, ECN, ECN zero, and pro. The minimum deposit ranges from $10 to $25,000 depending on the account type. The maximum leverage is 1:2000 for standard and cent accounts, 1:10 for shares accounts, and 1:1000 for ECN accounts.
RoboMarkets offers five account types: pro-standard, pro-cent, ECN-pro NDD, prime NDD, and R StocksTrader. The minimum deposit ranges from $100 to $500 depending on the account type. The maximum leverage is 1:2000 for pro-standard and pro-cent accounts, 1:300 for ECN-pro NDD accounts, 1:100 for prime NDD accounts, and 1:20 for R StocksTrader accounts.
FXTM vs RoboMarkets Deposit Options Comparison
FXTM supports various deposit and withdrawal methods such as bank wire transfer, credit/debit cards, e-wallets (Skrill, Neteller), local payment systems (PayPal), cryptocurrencies (Bitcoin), and prepaid cards (Payoneer). FXTM does not charge any fees for deposits or withdrawals but may apply conversion fees for certain currencies.
RoboMarkets supports various deposit and withdrawal methods such as bank wire transfer, credit/debit cards, e-wallets (Skrill, Neteller), local payment systems (PayPal), cryptocurrencies (Bitcoin, Ethereum, Litecoin), and prepaid cards (Payoneer). RoboMarkets does not charge any fees for deposits or withdrawals but may apply conversion fees for certain currencies. RoboMarkets also offers free withdrawal of funds twice a month.
FXTM vs RoboMarkets Trading Platforms Comparison
FXTM supports the popular MetaTrader 4 and MetaTrader 5 platforms, as well as its own web-based platform FXTM Invest. FXTM also offers mobile apps for iOS and Android devices.
RoboMarkets supports the popular MetaTrader 4 and MetaTrader 5 platforms, as well as its own web-based platform R Trader. RoboMarkets also offers mobile apps for iOS and Android devices.
FXTM vs RoboMarkets Analytical Tools Comparison
FXTM provides various analytical tools for its clients such as market news, economic calendar, trading signals, market analysis, webinars, and educational resources.
RoboMarkets provides various analytical tools for its clients such as market news, economic calendar, trading signals, market analysis, webinars, and educational resources. RoboMarkets also offers R Trader Strategy Builder, a tool that allows clients to create and test their own trading strategies without coding.
FXTM vs RoboMarkets. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that can affect your trading performance and experience. There are many factors to consider when comparing different brokers, such as regulation, trading assets, trading fees, account types, deposit and withdrawal options, trading platforms, and analytical tools.
FXTM and RoboMarkets are both reputable and regulated online brokers that offer a wide range of trading instruments and services. However, they also have some differences that may suit different types of traders. Here are some of the main points of comparison between them:
- Regulation: FXTM has more licenses than RoboMarkets, which means it can operate in more jurisdictions and offer higher levels of security and transparency for its clients. RoboMarkets only has one license from the CySEC, which may limit its scope of operations and pose some restrictions for clients from certain countries.
- Trading Assets: RoboMarkets offers more trading instruments than FXTM, especially in the stock market. RoboMarkets provides access to over 12,000 instruments across seven asset classes, while FXTM offers over 250 instruments across six asset classes. Both brokers offer investment products such as copy trading and PAMM accounts.
- Trading Fees: Both brokers charge variable spreads and commissions depending on the account type and market conditions. The average spread for EUR/USD on a standard account is 1.3 pips for FXTM and 1.6 pips for RoboMarkets. The commission for ECN accounts ranges from $2 to $20 per lot for FXTM and from $2 to $4 per lot for RoboMarkets. Both brokers offer commission-free trading for stocks on their proprietary platforms.
- Account Types: Both brokers offer a variety of account types to suit different trading styles and preferences. The minimum deposit ranges from $10 to $25,000 for FXTM and from $100 to $500 for RoboMarkets. The maximum leverage is 1:2000 for both brokers on some account types, but it varies depending on the asset class and the account type.
- Deposit and Withdrawal Options: Both brokers support various deposit and withdrawal methods such as bank wire transfer, credit/debit cards, e-wallets, local payment systems, cryptocurrencies, and prepaid cards. Both brokers do not charge any fees for deposits or withdrawals but may apply conversion fees for certain currencies. RoboMarkets also offers free withdrawal of funds twice a month.
- Trading Platforms: Both brokers support the popular MetaTrader 4 and MetaTrader 5 platforms, as well as their own web-based platforms. FXTM’s platform is called FXTM Invest, while RoboMarkets’ platform is called R Trader. Both brokers also offer mobile apps for iOS and Android devices.
- Analytical Tools: Both brokers provide various analytical tools for their clients such as market news, economic calendar, trading signals, market analysis, webinars, and educational resources. RoboMarkets also offers R Trader Strategy Builder, a tool that allows clients to create and test their own trading strategies without coding.
As you can see, there is no clear answer to which forex broker is better or which one you should choose. It depends on your personal preferences, goals, risk appetite, budget, and trading style. You may want to try out both brokers’ demo accounts before making a final decision.
