FXTM vs IG - Fees Review included
Which broker is better FXTM or IG? 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 6.77 out of 10. IG is one of the top brokers in the financial market with the TU Overall Score of 6.66 out of 10. Find out more about TU Overall Score.
| Feature | FXTM | IG |
|---|---|---|
Overall |
4.5 |
4.4 |
4.9 |
4.7 |
|
4.7 |
4.7 |
|
4.5 |
5 |
|
Investment Instruments |
4.2 |
3.9 |
Platforms and Charting Tools |
4.3 |
4.7 |
Deposit and Withdrawal |
4.6 |
4.0 |
Research |
4.5 |
4.5 |
Education |
4.6 |
4.2 |
Support |
4.4 |
4.8 |
Bonuses |
2.9 |
3.4 |
|
|
FXTM vs IG: 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 Forex broker IG Markets is a structural subdivision of the IG Group corporation. Its securities are listed on the London Stock Exchange and are included in the FTSE 250 index. IG Markets is a UK registered company created in 1974, but since its inception, its representative offices have appeared in some other European countries. Since 2014, a retail line of brokerage services has been opened. The international division of the broker is registered in Bermuda and licensed by the Bermuda Monetary Authority
| FXTM | IG | |
|---|---|---|
| Overall Pros | Direct US stock trading with zero fees | reliability. IG Markets is part of the IG Group, founded in 1974. Its subsidiaries are also licensed by the British regulator FCA, the Monetary Authority of Singapore (MAS), and the American regulators CFTC, and NFA |
| Stock baskets | 16,000 trading instruments, investments in IPOs and exchange-traded funds | |
| 3 types of ECN accounts | relatively good spreads, from 0.6-1 pips depending on the type of instrument | |
| Low fees and near zero spreads | customer support is 24/7 | |
| Well regulated forex broker | ||
| FXTM invest copy trading platform | ||
| Trading signals and trading calculators tools | ||
| Overall Cons | Lack of cryptocurrency | high threshold of entry which discourages private novice traders |
| complicated and unpleasant verification procedure. There are cases of refusal to open an account due to unconfirmed or low income | ||
| there are no products for passive investment, no bonus system is provided | ||
| a limited set of options for depositing and withdrawing money, which is not very convenient for global Forex traders |
FXTM vs IG: Safety and Regulation
| FXTM | IG | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
Investor protection |
$1 million |
£85,000 €100,000 SGD 75,000 |
FCA UK Regulation |
Yes |
Yes |
FINRA (U.S) |
No |
No |
BaFin (Germany) |
No |
Yes |
ASIC (Australia) |
No |
Yes |
CFTC (U.S) |
No |
Yes |
MAS |
No |
Yes |
FSCA SA |
Yes |
Yes |
BVI FSC |
No |
No |
VFSC |
No |
No |
FSA (Seychelles) |
No |
No |
FXTM vs IG: Trading Conditions
| Trading Conditions | FXTM | IG |
|---|---|---|
Minimum Deposit |
$50 |
$450 |
Trading Platforms |
MT4, MT5 |
MT4, IG Trading Platform, L2 dealer |
Max Leverage (Futures) |
1-2000 (not for all markets) |
1-200 |
Supported Markets |
Forex, Stocks, CFDs on stocks, indexes, Commodities, Metals |
Forex, Crypto, commodities |
Trading assets |
1000+ |
16000+ |
Trading Accounts |
Standard, Cent, Stocks, Stock CFDs, ECN , ECN Zero, FXTM pro |
Demo, Standard |
Base Account Currencies |
USD, EUR, GBP, NGN |
USD |
FXTM vs IG: Fees
| FXTM | IG | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
1,1 |
0,6 |
Standard acc. spread EUR/USD, max pips |
2,1 |
1,2 |
ECN Commission |
2,5 |
2,3 |
ECN Spread EUR/USD |
0,20 |
0,8 |
Deposit fee, % |
No |
No |
Withdrawal fee, % |
No |
No |
Withdrawal fee, USD |
3-20 |
No |
Inactivity fee, $ |
5 |
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 IG: Trading Assets
| Asset Name | FXTM | IG |
|---|---|---|
Overall |
1000+ |
16000+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
No |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
No |
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 IG: Investment Programs
| Asset Name | FXTM | IG |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
Yes |
No |
Other |
No |
Investing in IPOs |
Trading Platforms: IG or FXTM
| FXTM | IG | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
FXTM invest |
IG Trading Platform |
Others |
No |
L2 dealer |
|
|
FXTM vs IG: Deposit and Withdrawal Methods
| FXTM | IG | |
|---|---|---|
Bank Wire |
Yes |
Yes |
Bank Card |
Yes |
Yes |
Neteller |
Yes |
Yes |
BTC |
Yes |
Yes |
Wise |
No |
No |
Payoneer |
No |
No |
USDT |
Yes |
Yes |
FXTM vs IG: Research
| Research Type | FXTM | IG |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
FXTM vs IG: Education
| Education Type | FXTM | IG |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
IG vs FXTM: Support
| Support Features | FXTM | IG |
|---|---|---|
Working Days |
24/5 |
24/7 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
callback, Telegram, Messenger Facebook, WhatsApp, |
No |
FXTM vs IG: Forex Bonuses and Promo
| Promo | FXTM | IG |
|---|---|---|
Forex Bonus |
cashback of up to $5 |
No |
Affiliate Program |
Refer a friend. For each new invited client, the partner receives $50 |
"Invite a friend". The partner receives $100 for each attracted referral who must carry out 5 transactions of the corresponding volume (possibly, 5 lots are implied) within 6 months. |
Other Promos |
No |
|
|
|
Top 5 Reviews on IG
-
Comment
The absence of a minimum deposit limit when opening an account with IG Markets is an undoubted plus. This makes trading accessible for beginners who do not want to risk large sums. However, the impossibility to use e-wallets is a disadvantage. IG Markets does not accept funds through payment systems, including cryptocurrencies. This can be inconvenient for those traders who prefer to use these payment methods. Overall, IG Markets is a reliable broker with a number of advantages, but some traders should pay attention to the limitations related to account opening and payment methods.
-
Comment
Right from the start, IG Markets inspired confidence in me. It is clear that the broker has money and this is not a bucket shop with two employees. The level of the service is high here. Plus, having a dedicated manager to help with everything is a big advantage. Overall, there are just so many benefits that make trading with them enjoyable. In my opinion, choosing a broker with a large client base is a smart move. This suggests that people trust the broker.
-
Comment
It’s a decent company, I do most of my trading here, but I have an account with another company. There are no particular complaints. If you know how to trade, I can confidently recommend IG Markets.
-
Comment
Personally, what attracts me the most is the access to options with a low deposit at IG Markets broker. However, everything comes with a price: commissions and premiums are higher compared to companies with higher margin requirements. By the way, with a minimum deposit of $200 for options, you won't get much leverage. So, to feel more comfortable, you need to deposit at least 10 times more money into your account.
-
Comment
I can briefly share my experience. Overall, if you don't dwell on withdrawal issues, everything is fine. I withdraw funds to my card or in USDT almost every month. Initially, I had doubts about IG Markets, but after several consistent withdrawals to my card, I started to trust them more. Although the profit is not that great because the amount constantly circulates in the balance: I deposit, trade, withdraw profit. But I enjoy the trading process itself, so I have no complaints about IG Markets broker.
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!
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.