Compare Fortrade vs FXTM
What is Fortrade? What is FXTM?
Fortrade is a UK-based broker that offers trading on various instruments, such as forex, CFDs, indices, commodities, and stocks. It is regulated by the FCA in the UK and the NBRB in Belarus. It has a proprietary trading platform called Fortrader, as well as MetaTrader 4 and MetaTrader 5. It also provides educational resources, market analysis, and customer support.
FXTM is a global broker that offers trading on forex, CFDs, indices, commodities, metals, stocks, and cryptocurrencies. It is regulated by multiple authorities, such as ASIC in Australia, IIROC in Canada, FSC in Mauritius, CySEC in Cyprus, FCA in the UK, FSCA in South Africa, and CMA in Kenya. It supports MetaTrader 4 and MetaTrader 5 platforms, as well as a mobile app called FXTM Trader. It also offers copy trading, trading contests, free education, and customer service.
Fortrade vs FXTM Regulation Comparison
Both Fortrade and FXTM are regulated by reputable authorities in different jurisdictions. However, FXTM has more regulatory licenses than Fortrade, which may indicate a higher level of trustworthiness and security for its clients. Here are the regulators for each broker:
- Fortrade: FCA (United Kingdom), NBRB (Belarus), CySEC (Cyprus)
- FXTM: ASIC (Australia), IIROC (Canada), FSC (Mauritius), CySEC (Cyprus), FCA (United Kingdom), FSCA (South Africa), CMA (Kenya)
Fortrade vs FXTM Trading Assets Comparison
Both Fortrade and FXTM offer a wide range of trading instruments for their clients to choose from. However, the number and variety of assets may differ depending on the account type and the platform used. Here are some of the main categories of assets for each broker:
- Fortrade: Forex (60+ pairs), CFDs (300+ contracts), Indices (20+), Commodities (50+), Stocks (150+), ETFs (15+)
- FXTM: Forex (60+ pairs), CFDs (250+ contracts), Indices (11+), Commodities (7+), Metals (4+), Stocks (120+), Cryptocurrencies (4+)
Fortrade vs FXTM Trading Fees Comparison
Both Fortrade and FXTM charge fees for their trading services, which may include spreads, commissions, swaps, and other charges. The fees may vary depending on the account type, the platform used, the instrument traded, and the market conditions. Here are some of the general fee structures for each broker:
- Fortrade: Fixed spreads from 2 pips on forex and 0.1 points on indices; no commissions on most instruments; swaps based on overnight interest rates; no deposit or withdrawal fees; $10 monthly inactivity fee after 180 days
- FXTM: Variable spreads from 0.1 pips on forex and 0.5 points on indices; commissions from $2 per lot on some account types; swaps based on overnight interest rates; no deposit fees; withdrawal fees from $3 to $30 depending on the method; $5 monthly inactivity fee after 6 months
Fortrade vs FXTM Account Types Comparison
Both Fortrade and FXTM offer different account types for their clients to suit their trading preferences and needs. The account types may have different features, such as minimum deposit, leverage, spread, commission, execution type, platform access, etc. Here are some of the main account types for each broker:
- Fortrade: Standard Account ($500 minimum deposit, 1:100 leverage, fixed spread, no commission, market execution, access to all platforms); Premium Account ($10,000 minimum deposit, 1:100 leverage, fixed spread plus cashback rebate program, no commission, market execution, access to all platforms plus dedicated account manager)
- FXTM: Standard Account ($10 minimum deposit, up to 1:2000 leverage, variable spread from 1.3 pips, no commission, instant execution, access to MT4 platform); Cent Account ($10 minimum deposit, up to 1:1000 leverage, variable spread from 1.5 pips, no commission, instant execution, access to MT4 platform); ECN Account ($500 minimum deposit, up to 1:1000 leverage, variable spread from 0.1 pips, commission from $2 per lot, market execution, access to MT4 and MT5 platforms); ECN Zero Account ($200 minimum deposit, up to 1:2000 leverage, variable spread from 1.5 pips, no commission, market execution, access to MT4 and MT5 platforms); Pro Account ($25,000 minimum deposit, up to 1:200 leverage, variable spread from 0 pips, commission from $2 per lot, market execution, access to MT4 and MT5 platforms)
Fortrade vs FXTM Deposit Options Comparison
Both Fortrade and FXTM offer various methods for their clients to deposit and withdraw funds from their trading accounts. The methods may have different processing times, fees, and limits. Here are some of the main methods for each broker:
- Fortrade: PayPal, Skrill, Wire transfer, Credit/debit cards, Neteller
- FXTM: WebMoney, Skrill, Wire transfer, Credit/debit cards, YooMoney, Neteller, UnionPay, QIWI, Perfect Money, DIXIPAY, FasaPay, Crypto, Google Pay
Fortrade vs FXTM Trading Platforms Comparison
Both Fortrade and FXTM support the popular MetaTrader 4 and MetaTrader 5 platforms, which are widely used by traders around the world. These platforms offer advanced trading tools, such as charts, indicators, expert advisors, scripts, etc. However, each broker also has its own proprietary platform that may have some unique features and advantages. Here are some of the main platforms for each broker:
- Fortrade: Desktop Fortrader (a user-friendly platform that offers fast execution, one-click trading, pending orders, trailing stop, etc.); Web Fortrader (a web-based version of the desktop platform that can be accessed from any browser); Mobile Fortrader (an app for Android and iOS devices that allows trading on the go)
- FXTM: FXTM Trader (a mobile app for Android and iOS devices that offers commission-free trading, spreads as low as zero on major FX pairs and gold, over 250 instruments to trade, one-click trading, etc.)
Fortrade vs FXTM Analytical Tools Comparison
Both Fortrade and FXTM provide various analytical tools for their clients to help them with their trading decisions and strategies. These tools may include market news, analysis, signals, calendars, calculators, etc. Here are some of the main tools for each broker:
- Fortrade and FXTM both provides : Market News (daily updates on the latest market events and trends); Analysis (technical and fundamental analysis on various instruments); Signals (trading alerts based on technical indicators); Economic Calendar (a list of upcoming economic events and their impact on the markets); Trading Central (a third-party service that provides technical analysis and recommendations); Calculators (tools to calculate margin, pip value, swap rate, etc.)
Fortrade vs FXTM. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that can affect your trading experience and results. There are many factors to consider, such as regulation, fees, assets, platforms, tools, etc.
Fortrade and FXTM are two reputable and popular forex brokers that offer various features and services for their clients. However, they also have some differences that may make one more appealing than the other for certain traders. Here are some of the main points of comparison between them:
- Regulation: FXTM has more regulatory licenses than Fortrade, which may indicate a higher level of trustworthiness and security for its clients. FXTM is regulated by authorities in Australia, Canada, Mauritius, Cyprus, the UK, South Africa, and Kenya. Fortrade is regulated by authorities in the UK, Belarus, and Cyprus.
- Fees: Both brokers charge fees for their trading services, which may include spreads, commissions, swaps, and other charges. The fees may vary depending on the account type, the platform used, the instrument traded, and the market conditions. Generally speaking, FXTM offers lower spreads and commissions than Fortrade on some account types and instruments, but Fortrade offers fixed spreads and no commissions on most instruments.
- Assets: Both brokers offer a wide range of trading instruments for their clients to choose from. However, the number and variety of assets may differ depending on the account type and the platform used. Generally speaking, Fortrade offers more CFDs, commodities, stocks, and ETFs than FXTM, but FXTM offers more metals and cryptocurrencies than Fortrade.
- Platforms: Both brokers support the popular MetaTrader 4 and MetaTrader 5 platforms, which are widely used by traders around the world. These platforms offer advanced trading tools, such as charts, indicators, expert advisors, scripts, etc. However, each broker also has its own proprietary platform that may have some unique features and advantages. Fortrade has Fortrader, a user-friendly platform that offers fast execution, one-click trading, pending orders, trailing stop, etc. FXTM has FXTM Trader, a mobile app that offers commission-free trading, spreads as low as zero on major FX pairs and gold, over 250 instruments to trade, one-click trading, etc.
- Tools: Both brokers provide various analytical tools for their clients to help them with their trading decisions and strategies. These tools may include market news, analysis, signals, calendars, calculators, etc. Both brokers also offer Trading Central, a third-party service that provides technical analysis and recommendations.
As you can see, both brokers have their pros and cons. Ultimately, the best broker for you depends on your personal goals and preferences. You may want to try out their demo accounts or read some reviews from other traders before making your final decision.
