Compare ForexMart vs FXTM
What is ForexMart? What is FXTM?
ForexMart is an online forex broker that was established in 2014 and is regulated by CySEC in Cyprus. ForexMart offers trading in forex, CFDs, crypto, and energies with variable spreads, low commissions, and high leverage. ForexMart also provides a free VPS hosting service, a demo account, and an Islamic account option for its clients.
FXTM is an online forex broker that was founded in 2011 and is regulated by multiple authorities, including CySEC in Cyprus, FCA in the UK, FSCA in South Africa, and CMA in Kenya. FXTM offers trading in forex, CFDs, futures, crypto, and stocks with variable spreads, low commissions, and high leverage. FXTM also has a referral bonus program, a demo account, an Islamic account option, and a PAMM account service for its clients.
ForexMart vs FXTM Regulation Comparison
Both ForexMart and FXTM are regulated by CySEC in Cyprus, which means they have to comply with the rules and standards of the European Securities and Markets Authority (ESMA). This includes keeping client funds in segregated accounts, providing negative balance protection, and participating in the Investor Compensation Fund (ICF).
However, FXTM has more regulatory licenses than ForexMart, as it is also authorized by the FCA in the UK, the FSCA in South Africa, and the CMA in Kenya. These regulators have different requirements and protections for traders, such as the Financial Services Compensation Scheme (FSCS) in the UK and the Financial Sector Conduct Authority Ombud (FSCA Ombud) in South Africa. Therefore, FXTM has a higher level of regulatory oversight and credibility than ForexMart.
ForexMart vs FXTM Trading Assets Comparison
Both ForexMart and FXTM offer trading in forex, CFDs, crypto, and energies. However, FXTM has a wider range of trading assets than ForexMart, as it also offers trading in futures, stocks, indices, commodities, metals, and ETFs. This gives traders more opportunities and diversity to trade different markets and instruments with FXTM.
ForexMart vs FXTM Trading Fees Comparison
Both ForexMart and FXTM charge variable spreads and commissions for their trading services. The spreads and commissions depend on the account type, the trading instrument, the market conditions, and the trading volume. Generally speaking, ForexMart has lower spreads than FXTM on major forex pairs and crypto pairs, while FXTM has lower spreads than ForexMart on minor forex pairs and CFDs.
For example, the average spread for EUR/USD is 1.7 pips for ForexMart and 2 pips for FXTM; the average spread for BTC/USD is 0 pips for ForexMart and 36 pips for FXTM; the average spread for GBP/JPY is 3 pips for ForexMart and 2.5 pips for FXTM; the average spread for US500 is 0.5 pips for ForexMart and 0.4 pips for FXTM. The commissions also vary depending on the account type and the trading instrument.
For example, the commission for forex trading is $20 per lot for ForexMart and $2 per lot for FXTM; the commission for crypto trading is $20 per lot for ForexMart and $15 per lot for FXTM; the commission for stock trading is $0 per lot for ForexMart and $0.1 per share for FXTM.
ForexMart vs FXTM Account Types Comparison
- Both ForexMart and FXTM offer different types of accounts for their clients to choose from according to their preferences and needs. The main differences between the account types are the minimum deposit requirement, the maximum leverage ratio, the spread type, the commission rate, the execution type, and the available trading instruments. Here are some examples of the account types offered by each broker:
- ForexMart:
- Standard Account: Minimum deposit of $1; maximum leverage of 1:500; variable spread; no commission; market execution; access to forex, CFDs, crypto, energies.
- Zero Spread Account: Minimum deposit of $1; maximum leverage of 1:500; zero spread; commission of $20 per lot; market execution; access to forex only.
- ECN Account: Minimum deposit of $1; maximum leverage of 1:500; variable spread; commission of $2 per lot; market execution; access to forex, CFDs, crypto, energies.
- FXTM:
- Standard Account: Minimum deposit of $100; maximum leverage of 1:2000; variable spread; no commission; instant execution; access to forex, CFDs, metals, stocks.
- Cent Account: Minimum deposit of $10; maximum leverage of 1:1000; variable spread; no commission; instant execution; access to forex, CFDs, metals.
- ECN Account: Minimum deposit of $500; maximum leverage of 1:1000; variable spread; commission of $2 per lot; market execution; access to forex, CFDs, metals, crypto.
- ECN Zero Account: Minimum deposit of $200; maximum leverage of 1:2000; variable spread; no commission; market execution; access to forex, CFDs, metals, crypto.
- FXTM Pro Account: Minimum deposit of $25,000; maximum leverage of 1:200; variable spread; no commission; market execution; access to forex, CFDs, metals.
ForexMart vs FXTM Deposit Options Comparison
Both ForexMart and FXTM offer various methods for their clients to deposit and withdraw funds from their trading accounts. The methods include credit/debit cards, e-wallets, wire transfers, local bank transfers, and cryptocurrencies. However, FXTM has more options than ForexMart, as it also accepts payments via Google Pay and Perfect Money. The fees and processing times for each method may differ depending on the broker and the payment provider. Generally speaking, ForexMart does not charge any fees for deposits and withdrawals, while FXTM may charge some fees depending on the method and the amount.
ForexMart also claims to process deposits and withdrawals within 24 hours, while FXTM may take up to 5 business days for some methods.
ForexMart vs FXTM Trading Platforms Comparison
Both ForexMart and FXTM use MetaTrader 4 (MT4) as their main trading platform. MT4 is one of the most popular and widely used trading platforms in the world, as it offers a user-friendly interface, advanced charting tools, technical indicators, automated trading systems, and mobile trading apps.
However, FXTM also offers MetaTrader 5 (MT5) as an alternative platform for its clients. MT5 is the newer and more advanced version of MT4, as it has more features and functionalities, such as more timeframes, more order types, more indicators, more instruments, an economic calendar, a depth of market view, and a built-in MQL5 community.
ForexMart vs FXTM Analytical Tools Comparison
Both ForexMart and FXTM provide their clients with various analytical tools and educational resources to help them improve their trading skills and strategies. These include market news, economic calendars, technical analysis reports, webinars, videos, articles, e-books, glossaries, and FAQs.
However, FXTM has more tools than ForexMart, as it also offers trading signals, market sentiment indicators, trading calculators, and a copy trading service called FXTM Invest.
ForexMart vs FXTM. Which forex broker is better? Which forex broker should you choose?
ForexMart and FXTM are both reputable and reliable online forex brokers that offer different features and services for their clients. The best choice for you may depend on your personal preferences, trading goals, and risk appetite.
Ultimately, the best way to decide which broker is more suitable for you is to test them out by opening a demo account or a real account with a small deposit and testing their service and performance.
