FXTM vs FXChoice - Fees Review included
Which broker is better FXTM or FXChoice? 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. FXChoice is one of the top brokers in the financial market with the TU Overall Score of 5.52 out of 10. Find out more about TU Overall Score.
| Feature | FXTM | FXChoice |
|---|---|---|
Overall |
4.5 |
3.5 |
4.9 |
2.5 |
|
4.7 |
3.8 |
|
4.5 |
3.9 |
|
Investment Instruments |
4.2 |
4.6 |
Platforms and Charting Tools |
4.3 |
4.1 |
Deposit and Withdrawal |
4.6 |
4.2 |
Research |
4.5 |
3.8 |
Education |
4.6 |
3.5 |
Support |
4.4 |
4.1 |
Bonuses |
2.9 |
4.2 |
|
|
FXTM vs FXChoice: 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).
FXChoice was established in 2010. The broker is licensed by the International Financial Services Commission of Belize (IFSC) and provides quality brokerage services for active and passive trading on the Forex market. FXChoice enjoys popularity among Western traders thanks to the broker’s commitment to business integrity, focus on customers, and to high requirements for its global employees.
| FXTM | FXChoice | |
|---|---|---|
| Overall Pros | Direct US stock trading with zero fees | Tight market spreads (from 0.0 pips) on popular currency pairs |
| Stock baskets | Several passive income options: partnership program, copy trading services, and MAM accounts. | |
| 3 types of ECN accounts | Crypto as account currency | |
| 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 minimum deposit - $100 |
| No cent accounts | ||
| Withdrawals via Visa and Mastercard debit/credit cards are not available; | ||
| Low leverage | ||
| Customer support responds in English only. |
FXTM vs FXChoice: Safety and Regulation
| Regulated By: | FXTM | FXChoice |
|---|---|---|
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). |
IFSC |
FXTM vs FXChoice: Trading Conditions
| Trading Conditions | FXTM | FXChoice |
|---|---|---|
Minimum Deposit |
$50 |
$100 |
Trading Platforms |
MT4, MT5 |
MT4, MT5 |
Max Leverage (Futures) |
1-2000 (not for all markets) |
1-200 |
Supported Markets |
Forex, Stocks, CFDs on stocks, indexes, Commodities, Metals |
Currency pairs, cryptocurrency, CFDs on stocks, commodities, metals, and energies |
Trading assets |
1000+ |
200+ |
Trading Accounts |
Standard, Cent, Stocks, Stock CFDs, ECN , ECN Zero, FXTM pro |
Demo, Classic, Pro |
Base Account Currencies |
USD, EUR, GBP, NGN |
USD, EUR, GBP, AUD, CAD, Gold, Bitcoin, BitcoinCash, Litecoin, Ethereum, XRP |
FXTM vs FXChoice: Fees
Forex Trading Fees
| Fee | FXTM | FXChoice |
|---|---|---|
Standard Account EURUSD Average Spread |
1.5 pips |
1.4 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$2 per lot |
$3.5 per lot |
ECN Account EUR Average Spread |
0.1 pips |
0.2 pips |
CFD Trading Fees
| Fee | FXTM | FXChoice |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | FXTM | FXChoice |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
Bank transfer 0.25% (min EUR 150); Perfect Money and FasaPay — 0.5%; Skrill — 1%; and VLOAD — 3.5% |
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 |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
FXTM vs FXChoice: Trading Assets
| Asset Name | FXTM | FXChoice |
|---|---|---|
Overall |
1000+ |
200+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
Yes |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
Yes (CFD) |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
FXTM or FXChoice: Investment Programs
| Asset Name | FXTM | FXChoice |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
Yes |
Managed Accounts |
Yes |
No |
Other |
No |
No |
Trading Platforms: FXChoice or FXTM
| FXTM | FXChoice | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
FXTM invest |
No |
Others |
No |
No |
|
|
FXTM vs FXChoice: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FXTM | FXChoice |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes (Only deposit) |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
Yes |
FXTM vs FXChoice: Research
| Research Type | FXTM | FXChoice |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
No |
FXTM vs FXChoice: Education
| Education Type | FXTM | FXChoice |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
No |
Videos |
Yes |
No |
Cent account |
Yes |
No |
FXChoice vs FXTM: Support
| Support Features | FXTM | FXChoice |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
callback, Telegram, Messenger Facebook, WhatsApp, |
Callback form |
FXTM vs FXChoice: Forex Bonuses and Promo
| Promo | FXTM | FXChoice |
|---|---|---|
Forex Bonus |
cashback of up to $5 |
15% bonus on deposits in BTC, Bonuses from FXChoice are 15% on the deposit amount, Pips+ provides rebates from $5 to $20 (for Classic) and reduction of standard fee from $35 (per $1 million traded) to $30-$15 (for Pro). |
Affiliate Program |
Refer a friend. For each new invited client, the partner receives $50 |
Up to 50% of spread amount on all currency pairs per each referred trader |
Other Promos |
||
|
|
Top 5 Reviews on FXChoice
-
Comment
I traded with this broker FXChoice a couple of years ago and initially everything was relatively good. But then endless withdrawal problems began. Half of my acquaintances parted ways with FXChoice due to increased withdrawal times. The company does withdraw money, but where withdrawal usually takes a couple of days, here the timelines extend to five days.
-
Comment
When I tried to withdraw money for the first time, I encountered a problem and my funds were not withdrawn. I contacted FXChoice via email and they responded that they were unable to complete the withdrawal process and suggested another withdrawal method. I decided to try another method, but I encountered the same result - the money was not withdrawn. I thought the problem was resolved, but now, after a long time, I still have not received my funds.
-
Comment
A terrible platform is the reason I decided to part ways with the FXChoice broker. The charts consistently freeze, news doesn't update, not to mention that the terminal constantly crashes and requires multiple daily restarts. The FXChoice support team is of no help. I lost my entire deposit within a month due to platform issues, and I have no desire to continue collaborating with this broker.
-
Comment
I am disappointed with FXChoice that cancels my profitable trades without providing any justification. I believe the reason is that the company does not want to pay out profits to traders. If I was only losing money and not making a profit, they probably wouldn't interfere. It is noteworthy that loss-making trades remain unchanged. My review of FXChoice is extremely negative.
-
Comment
I'm pleasantly impressed with FXChoice. The platform has some disadvantages, but there are opportunities for fundamental analysis. If you are new to Forex trading, this broker may be a good choice for you. And it's easy to keep track of all the important world economic and political news.
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.