FXTM vs FXOpen - Fees Review included
Which broker is better FXTM or FXOpen? 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. FXOpen is one of the top brokers in the financial market with the TU Overall Score of 6.33 out of 10. Find out more about TU Overall Score.
| Feature | FXTM | FXOpen |
|---|---|---|
Overall |
4.5 |
4.6 |
4.9 |
4.5 |
|
4.7 |
4.8 |
|
4.5 |
4.3 |
|
Investment Instruments |
4.2 |
3.9 |
Platforms and Charting Tools |
4.3 |
4.6 |
Deposit and Withdrawal |
4.6 |
4.7 |
Research |
4.5 |
4.2 |
Education |
4.6 |
4.3 |
Support |
4.4 |
4.7 |
Bonuses |
2.9 |
4.7 |
|
|
|
FXTM vs FXOpen: 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).
FXOpen Broker Company was established in Cairo in 2003. In 2005 it commenced dealing services, and thereafter became one of the leaders in the Forex industry. The company has held its high-level service through optimum trading conditions, innovative technologies, and a wide range of financial services.
| FXTM | FXOpen | |
|---|---|---|
| Overall Pros | Direct US stock trading with zero fees | profitable trading conditions for the trader of any experience level from beginner to professional |
| Stock baskets | minimum commissions for withdrawal and Cash-back program, which will reduce your commission fees further | |
| 3 types of ECN accounts | PAMM-service for successful traders’ transactions copying | |
| Low fees and near zero spreads | auto-trading availability | |
| Well regulated forex broker | convenient reports on account status to the end of the day and month. | |
| FXTM invest copy trading platform | ||
| Trading signals and trading calculators tools | ||
| Overall Cons | Lack of cryptocurrency | insufficient amount of training materials |
| there is no way to order a call back |
FXTM vs FXOpen: Safety and Regulation
| Regulated By: | FXTM | FXOpen |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
Yes |
No |
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). |
Nevis |
FXTM vs FXOpen: Trading Conditions
| Trading Conditions | FXTM | FXOpen |
|---|---|---|
Minimum Deposit |
$50 |
$1 |
Trading Platforms |
MT4, MT5 |
MT4, MT5, WebTrader, Mobile app |
Max Leverage (Futures) |
1-2000 (not for all markets) |
1-500 |
Supported Markets |
Forex, Stocks, CFDs on stocks, indexes, Commodities, Metals |
Forex, CFD, indices, gold and silver, Cryptocurrencies |
Trading assets |
1000+ |
|
Trading Accounts |
Standard, Cent, Stocks, Stock CFDs, ECN , ECN Zero, FXTM pro |
Demo, Micro, ECN, STP, Crypto, Islamic accounts |
Base Account Currencies |
USD, EUR, GBP, NGN |
USD, EUR, GBP, CAD, AUD, CHF, JPY, CNY |
FXTM vs FXOpen: Fees
Forex Trading Fees
| Fee | FXTM | FXOpen |
|---|---|---|
Standard Account EURUSD Average Spread |
1.5 pips |
0.1 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$2 per lot |
$1.5-3.5 per lot |
ECN Account EUR Average Spread |
0.1 pips |
0.1 pips |
CFD Trading Fees
| Fee | FXTM | FXOpen |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread, shares - 0.1% |
Non-Trading Fees
| Fee | FXTM | FXOpen |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
Bank 30 EUR, Card - 3 USD / 2 EUR / 2 GBP, FacaPay - 0.5% |
Bank Transfer from $45, Bank Cards - 2.5%, China's Union Pay 3.5%, Electronic Wallets 0.5 - 2% |
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 FXOpen: Trading Assets
| Asset Name | FXTM | FXOpen |
|---|---|---|
Overall |
1000+ |
200+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
Yes |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
FXTM or FXOpen: Investment Programs
| Asset Name | FXTM | FXOpen |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
Yes |
No |
Other |
No |
No |
Trading Platforms: FXOpen or FXTM
| FXTM | FXOpen | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
FXTM invest |
No |
Others |
No |
No |
|
|
|
FXTM vs FXOpen: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FXTM | FXOpen |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
FXTM vs FXOpen: Research
| Research Type | FXTM | FXOpen |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
FXTM vs FXOpen: Education
| Education Type | FXTM | FXOpen |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
No |
Cent account |
Yes |
Yes |
FXOpen vs FXTM: Support
| Support Features | FXTM | FXOpen |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
callback, Telegram, Messenger Facebook, WhatsApp, |
No |
FXTM vs FXOpen: Forex Bonuses and Promo
| Promo | FXTM | FXOpen |
|---|---|---|
Forex Bonus |
cashback of up to $5 |
A $10 bonus is credited after opening a personal account (eWallet) and passing the 2nd level of verification. (for STP-type accounts); A welcome bonus of $1 is credited when opening a Micro account. |
Affiliate Program |
Refer a friend. For each new invited client, the partner receives $50 |
There is a flexible system of remunerations and coefficients depending on these indicators. 1st level — 100% of the standard commission, 2nd level — 35% of the standard commission, 3rd level — 10% of the standard commission. |
Other Promos |
Forex Cup - A bonus in the amount of 1% of the profit is credited for participating in contests for traders on a virtual account, FXOpen Cashback - The broker refunds a part of the funds for the trading operations conducted, including unprofitable ones. The amount depends on the margin involved in all accounts and ranges from $5 to $1,000. |
|
|
|
|
Top 5 Reviews on FXOpen
-
Comment
Normal broker. However, it is gradually moving away from microtrading. On the plus side, it is really regulated and fulfills the requirements of regulators.
-
Comment
I have been trading with this broker for almost 5 years. I like its favorable trading conditions; what is most important to me is the minimum spreads and commissions. Execution of transactions in the terminal is instantaneous, which is very important for intraday trading and scalping trading. Profits are withdrawn quickly, but during the day, that is, you have to wait.
-
Comment
I started trading at FXOpen a few months ago, trading on the EURUSD pair, the spread is relatively low, I like scalping, and trading with the MT4 platform, and order execution is smooth, both when opening orders and closing orders.
-
Comment
FXOpen complies with conditions of the promotion with the account transfer. I recently finished the process. The promised 30% was credited to the account. The broker’s manager said that the bonus is tradable. I haven’t been able to check it yet, since it requires a decent drawdown. But I think that's true. At least the manager assured me and this is specified in the documents provided on the website. I have been actively trading for several days, so far there are no comments for FXOpen.
-
Comment
I have been working with fxopen for more than a year, and so far my opinion is rather neutral. There were no problems, technically everything was fine too. The service level corresponds to an experienced broker. I don’t yet see any reason for criticism, as well as for admiration. I got what I expected. But I’m trading with TradersWay not for long, so my review is not yet objective.
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!
- Quotex vs FXTM
- Deriv vs FXTM
- IC Markets vs FXTM
- FXTM vs FXChoice
- FXTM vs Vantage
- FXTM vs BlackBull Markets
- FXTM vs FXCC
- FXTM vs Tradeview
- FXTM vs Trading 212
- FXTM vs WorldForex (WForex)
- FXTM vs NAGA
- FXTM vs ETX Capital
- FXTM vs City Index
- FXTM vs Swissquote
- FXTM vs IG
- FXTM vs Dukascopy
- FXTM vs LiteForex
- FXTM vs WelTrade
- FXTM vs eToro
- FXTM vs CMC Markets
- FXTM vs FP Markets
- FXTM vs OctaFX
- FXTM vs HotForex
- FXTM vs TD Ameritrade
- FXTM vs FBS
- FXTM vs Pepperstone
- FXTM vs Fusion Markets
- FXTM vs XTB
- FXTM vs Interactive Brokers
- FXTM vs AvaTrade
- FXTM vs Forex.com
- FXTM vs Libertex
- FXTM vs XM
- FXTM vs InstaForex
- FXTM vs IC Markets
- FXTM vs Exness
- Oanda vs FXTM
- Tickmill vs FXTM
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.