FXTM vs eToro - Fees Review included
Which broker is better FXTM or eToro? 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 6.03 out of 10. eToro is one of the top brokers in the financial market with the TU Overall Score of 5.6 out of 10. Find out more about TU Overall Score.
| Feature | FXTM | eToro |
|---|---|---|
Overall |
4.5 |
4.8 |
4.9 |
5.0 |
|
4.7 |
4.7 |
|
4.5 |
4.9 |
|
Investment Instruments |
4.2 |
5.0 |
Platforms and Charting Tools |
4.3 |
4.1 |
Deposit and Withdrawal |
4.6 |
4.5 |
Research |
4.5 |
5 |
Education |
4.6 |
4.3 |
Support |
4.4 |
4.2 |
Bonuses |
2.9 |
1 |
|
|
|
FXTM vs eToro: 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 eToro broker is a very popular online platform for trading. Founded in 2007, the company operates as a social trading website that works with traders in dozens of countries.
| FXTM | eToro | |
|---|---|---|
| Overall Pros | Direct US stock trading with zero fees | Mobile app for trading from smartphones |
| Stock baskets | Highly licensed and regulated broker | |
| 3 types of ECN accounts | eToro charges a fixed withdrawal fee of $5 USD | |
| Low fees and near zero spreads | The traders have access to the following trading offers: a copy trading service and ready-made portfolios with semi-automatic diversification | |
| Well regulated forex broker | The funds of eToro clients are held at the licensed US banks | |
| FXTM invest copy trading platform | ||
| Trading signals and trading calculators tools | ||
| Overall Cons | Lack of cryptocurrency | Customer support can be only contacted by tickets |
FXTM vs eToro: Safety and Regulation
| Regulated By: | FXTM | eToro |
|---|---|---|
US Regulation |
No |
Yes (eToro US) |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
No |
Yes |
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). |
Seychelles FSA |
FXTM vs eToro: Trading Conditions
| Trading Conditions | FXTM | eToro |
|---|---|---|
Minimum Deposit |
$50 |
$50 |
Trading Platforms |
MT4, MT5 |
eToro |
Max Leverage (Futures) |
1-2000 (not for all markets) |
1:30 |
Supported Markets |
Forex, Stocks, CFDs on stocks, indexes, Commodities, Metals |
Forex, Stocks, Indices, Commodities, Crypto |
Trading assets |
1000+ |
1000+ |
Trading Accounts |
Standard, Cent, Stocks, Stock CFDs, ECN , ECN Zero, FXTM pro |
Standard, Demo |
Base Account Currencies |
USD, EUR, GBP, NGN |
USD |
FXTM vs eToro: Fees
Forex Trading Fees
| Fee | FXTM | eToro |
|---|---|---|
Standard Account EURUSD Average Spread |
1.5 pips |
1 pip |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$2 per lot |
Not supported |
ECN Account EUR Average Spread |
0.1 pips |
Not supported |
CFD Trading Fees
| Fee | FXTM | eToro |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | FXTM | eToro |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
Bank 30 EUR, Card - 3 USD / 2 EUR / 2 GBP, FacaPay - 0.5% |
$5 |
Inactivity Fee |
$5 per month after 6 months of inactivity |
$10 per month after 12 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 eToro: Trading Assets
| Asset Name | FXTM | eToro |
|---|---|---|
Overall |
1000+ |
1000+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
No |
Yes |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes |
ETFs |
Yes (CFD) |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
FXTM or eToro: Investment Programs
| Asset Name | FXTM | eToro |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
Yes |
No |
Other |
No |
No |
Trading Platforms: eToro or FXTM
| FXTM | eToro | |
|---|---|---|
MT4 |
Yes |
No |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
FXTM invest |
eToro |
Others |
No |
No |
|
|
|
FXTM vs eToro: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FXTM | eToro |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
No |
No |
FXTM vs eToro: Research
| Research Type | FXTM | eToro |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
FXTM vs eToro: Education
| Education Type | FXTM | eToro |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
eToro vs FXTM: Support
| Support Features | FXTM | eToro |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
No |
Online chat |
Yes |
Yes |
Other |
callback, Telegram, Messenger Facebook, WhatsApp, |
No |
FXTM vs eToro: Forex Bonuses and Promo
| Promo | FXTM | eToro |
|---|---|---|
Forex Bonus |
cashback of up to $5 |
No |
Affiliate Program |
Refer a friend. For each new invited client, the partner receives $50 |
$100-250 per trader |
Other Promos |
No |
|
|
|
|
Top 5 Reviews on eToro
-
Comment
Stability in trading is the most important thing that I note in a broker’s operation. There are a lot of scams now, and finding a good broker is now very difficult. The regulator's license is important, but the company's presence on the market is more important. Entrusting the service to someone who has been operating for many years is the best idea. I have decided on eToro.
-
Comment
eToro is the first broker where I am not bothered with requotes. They haven’t occurred in 3 months even at high activity. It is clear that eToro has a thorough approach to work; the equipment is not cheap.
-
Comment
I started my eToro way back in 2020 to invest in US ETFs which at that time were not very accessible in my location. I checked their website and did a careful research before creating my account because of a number of complaints about their high fees. The website says commission is free, as with other factors which are charged in other platforms such as overnight and custody fees. Cut the story short I created an account with them and purchased one of their ETF products for an expense ratio of 0.03% at the time of sale. I thought this was such a steal price compared to an equity index feeder fund offered by a major bank brand in my area. From my estimation and confirmed by their agent as well (contacted them before posting this review), commissions from my trades averaged 0.09%, with a 0% commission structure on shares. Insanely low! This makes them my favorite platform for trading stocks.
-
Comment
Recently I completed a small experiment to test the performance of eToro and I am happy to share my conclusions. I made sure that the company really operates, quickly executes trades in the market, and withdraws profits. Although the eToro platform is not always perfect, it is still possible to make a profit on it.
-
Comment
I've been searching for a broker for a long time to comfortably trade stocks, and I'm very glad I opened an account with eToro. A big advantage is that trading fractional shares is possible. The commission for traders is no higher than with other brokers, and customer support always responds quickly, and money transfers are fast—I work with a card.
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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eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
"Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more"
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!