FXTM vs Swissquote - Fees Review included
Which broker is better FXTM or Swissquote? Our expert assessment conducted according to TU’s own methodology showed that FXTM is one of the top brokers in the financial market with the TU Overall Score of 5.9 out of 10. Swissquote is one of the top brokers in the financial market with the TU Overall Score of 6.78 out of 10. Find out more about TU Overall Score.
| Feature | FXTM | Swissquote |
|---|---|---|
Overall |
4.5 |
4.3 |
4.9 |
4.8 |
|
4.7 |
3.6 |
|
4.5 |
5 |
|
Investment Instruments |
4.2 |
4.3 |
Platforms and Charting Tools |
4.3 |
4.7 |
Deposit and Withdrawal |
4.6 |
4.0 |
Research |
4.5 |
4.5 |
Education |
4.6 |
4.6 |
Support |
4.4 |
4.0 |
Bonuses |
2.9 |
3.6 |
|
|
FXTM vs Swissquote: Pros and Cons
Broker FXTM (pronounced "ForexTime") started in 2011. It provides an opportunity to make a profit through active trading or investment programs. The company is regulated by CySEC (Cyprus Securities and Exchange Commission), South African FSCA (Financial Sector Supervision Authority), UK FCA (Financial Conduct Authority), and FSC (Mauritius Financial Supervisory Commission). The broker has received many awards, including "Best Trading Conditions" (2018, 2019) and "Most Innovative Broker" (2018).
The Swissquote brokerage firm has been operating in the Forex market since 1996. The company is regulated by the Swiss Financial Markets Authority (FINMA). The company is a member of the Swiss Bankers Association. It has offices in many financial capitals of the world: Zurich, London, Dubai, Hong Kong and is moderately popular among traders. The company falls short in the category of customer service when compared to other top companies and is significantly inferior to popular Forex brokers in many other respects also.
| FXTM | Swissquote | |
|---|---|---|
| Overall Pros | Direct US stock trading with zero fees | availability of a license from an authoritative regulator |
| Stock baskets | a wide range of financial services | |
| 3 types of ECN accounts | a large selection of deposit currencies | |
| Low fees and near zero spreads | ||
| Well regulated forex broker | ||
| FXTM invest copy trading platform | ||
| Trading signals and trading calculators tools | ||
| Overall Cons | Lack of cryptocurrency | high spreads and commissions |
| large deposit | ||
| few promotions, bonuses, contests, or other special offers |
FXTM vs Swissquote: Safety and Regulation
| Regulated By: | FXTM | Swissquote |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
ForexTime is registered with the UK Financial Conduct Authority (FCA) under the number 600475 and is regulated by the CySEC of Cyprus (under number 185/12) and the South African FSCA (number 46614). The broker is also regulated by the Financial Services Commission of the Republic of Mauritius, FSC (number C113012295). |
FINMA (Switzerland) |
FXTM vs Swissquote: Trading Conditions
| Trading Conditions | FXTM | Swissquote |
|---|---|---|
Minimum Deposit |
$50 |
$1000 |
Trading Platforms |
MT4, MT5 |
MT4, MT5, Advanced Trader |
Max Leverage (Futures) |
1-2000 (not for all markets) |
1-100 |
Supported Markets |
Forex, Stocks, CFDs on stocks, indexes, Commodities, Metals |
Forex, CFD, precious metals, stock indices, bonds, commodities, cryptocurrencies |
Trading assets |
1000+ |
10000+ |
Trading Accounts |
Standard, Cent, Stocks, Stock CFDs, ECN , ECN Zero, FXTM pro |
Standard, Premium, Professional, Prime |
Base Account Currencies |
USD, EUR, GBP, NGN |
USD, EUR, JPY, GBP, CHF, CAD, AUD, TRY, PLN, SEK, NOK, SGD, XGD, HUF, CZK |
FXTM vs Swissquote: Fees
Forex Trading Fees
| Fee | FXTM | Swissquote |
|---|---|---|
Standard Account EURUSD Average Spread |
1.5 pips |
1.7 pips |
Standard Account Fee |
$0 |
15-50 CHF |
ECN/STP Account Fee |
$2 per lot |
Not supported |
ECN Account EUR Average Spread |
0.1 pips |
Not supported |
CFD Trading Fees
| Fee | FXTM | Swissquote |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | FXTM | Swissquote |
|---|---|---|
Account Fee |
No |
15-50 CHF |
Deposit Fee |
No |
No |
Withdrawal Fee |
Bank 30 EUR, Card - 3 USD / 2 EUR / 2 GBP, FacaPay - 0.5% |
No |
Inactivity Fee |
$5 per month after 6 months of inactivity |
$10 per month after 6 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
FXTM vs Swissquote: Trading Assets
| Asset Name | FXTM | Swissquote |
|---|---|---|
Overall |
1000+ |
10000+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
No |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
No |
Yes |
Energy |
Yes (CFD) |
Yes |
Indices |
Yes (CFD) |
Yes |
ETFs |
Yes (CFD) |
No |
Bonds |
No |
Yes |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
FXTM or Swissquote: Investment Programs
| Asset Name | FXTM | Swissquote |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
Yes |
Managed Accounts |
Yes |
No |
Other |
No |
Themes Suggestions |
Trading Platforms: Swissquote or FXTM
| FXTM | Swissquote | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
FXTM invest |
Advanced Trader |
Others |
No |
No |
|
|
FXTM vs Swissquote: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FXTM | Swissquote |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
No |
No |
FXTM vs Swissquote: Research
| Research Type | FXTM | Swissquote |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
FXTM vs Swissquote: Education
| Education Type | FXTM | Swissquote |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
Swissquote vs FXTM: Support
| Support Features | FXTM | Swissquote |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
No |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
callback, Telegram, Messenger Facebook, WhatsApp, |
No |
FXTM vs Swissquote: Forex Bonuses and Promo
| Promo | FXTM | Swissquote |
|---|---|---|
Forex Bonus |
cashback of up to $5 |
No |
Affiliate Program |
Refer a friend. For each new invited client, the partner receives $50 |
Recommend Swissquote Bank and receive cash bonuses of up to CHF 800 for every customer you refer. |
Other Promos |
No |
|
|
|
Top 5 Reviews on Swissquote
-
Comment
A year ago, when I was a novice trader, I carefully studied the market and looked for a reliable broker to avoid possible fraudulent schemes. After a long search and analysis of many reviews and forums, I decided to choose Swissquote. It turned out to be the right choice. I did not regret my decision, as Swissquote turned out to be a reliable and professional company. I recommend this broker.
-
Comment
I have received positive experience for two years of trading with Swissquote. Their reliability, execution speed, and lack of requotes make trading convenient and enjoyable. The only thing I would like to improve is to expand the range of tools for technical analysis, including those designed for trading on stock markets. Overall, I recommend Swissquote to Forex traders.
-
Comment
Swissquote did not pass my own check. I made a deposit, traded a little, and saw serious issues. I have a lot of experience and problems with opening orders and the operation of the platform are obvious to me. Technical support is very weak.
-
Comment
Although Swissquote is considered good, I cannot write a positive review about it. The spread here is not 1.5 points, as stated on the website. The average spread for major currency pairs at Swissquote is 4-5 points without widening. During the night or during strong market movements, the spread can reach 15-20 points. My trading strategy cannot withstand such a spread.
-
Comment
Swissquote practices blocking traders who trade successfully and actively. Although the company does not prohibit active trading, it appears that there are still restrictions. At first, I was blocked from accessing my user account for a week precisely because of active trading. Then Swissquote introduced a limit on the number of trades per day - no more than two. It’s kind of nonsense, these restrictions are strange! There is no point in trading with the broker that does not allow you to open more than two trades per day.
Top 5 Reviews on FXTM
-
Comment
I noticed a great difference between trading on a demo account and a live one with FXTM. There were no requotes or significant slippages on the demo account, which created the illusion of simple trading. However, when switching to a live account on the FXTM platform, some technical problems arose that made successful trading difficult. Apparently, real conditions require a more attentive and cautious approach to trading.
-
Comment
One day I decided to try my hand at trading with FXTM. However, they don't seem to be very interested in new traders. Managers from FXTM did not even want to help me complete the verification procedure to withdraw funds. In the end, I earned some money, provided them with the necessary documents, but they still blocked my user account when I submitted a withdrawal request. They refused to even discuss it and treated me rudely. FXTM managers are simply disrespectful.
-
Comment
I decided not to trade with FXTM. I won’t deny it, I limited myself to only testing a demo account with this company. It turned out that the order execution speed is very low, so orders are opened at unprofitable prices, and it is impossible to conduct a normal market analysis. I think I'm not the only one who encountered such problems at FXTM.
-
Comment
FXTM is creating problems when traders execute successful trades. At first glance, they give traders the opportunity to work and even withdraw small amounts of profit. However, as soon as profitable operations begin, difficulties occur. Withdrawing funds becomes problematic as support begins to suspect its clients of “dubious trades”. I don't recommend FXTM.
-
Comment
FXTM is a dishonest broker! I don’t even want to recall how I was deceived here! The support assured that everything was transparent and there was no manipulation. Then why does the price always, before closing an order, suddenly go against me? And it would be okay if it were on several trades! But this happens all the time! FXTM just completely took my deposit!
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FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.