FXTM vs WorldForex (WForex) - Fees Review included
Which broker is better FXTM or WorldForex (WForex)? 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. WorldForex (WForex) is one of the top brokers in the financial market with the TU Overall Score of 6.93 out of 10. Find out more about TU Overall Score.
| Feature | FXTM | WorldForex (WForex) |
|---|---|---|
Overall |
4.5 |
4.2 |
4.9 |
2.1 |
|
4.7 |
4.1 |
|
4.5 |
4.1 |
|
Investment Instruments |
4.2 |
3.8 |
Platforms and Charting Tools |
4.3 |
3.9 |
Deposit and Withdrawal |
4.6 |
4.8 |
Research |
4.5 |
4.2 |
Education |
4.6 |
4.3 |
Support |
4.4 |
4.5 |
Bonuses |
2.9 |
4.5 |
|
|
|
FXTM vs WorldForex (WForex): 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).
WForex carries on its activity in 50 countries in the world. It is a member of the Financial Commission for Dispute Resolution in the field of financial services in the international exchange market. World Forex coops with front developers, introducing modern tools that provide traders with safe and uninterrupted trading. The company is admitted as the best Forex digital contract broker.
| FXTM | WorldForex (WForex) | |
|---|---|---|
| Overall Pros | Direct US stock trading with zero fees | Auto trading |
| Stock baskets | ECN/STP accounts | |
| 3 types of ECN accounts | Safe-box account — high interests for trader's funds, free-and-easy converting and cash transferring between your trade accounts according to official bank rates | |
| Low fees and near zero spreads | 100% deposit bonus | |
| Well regulated forex broker | ||
| FXTM invest copy trading platform | ||
| Trading signals and trading calculators tools | ||
| Overall Cons | Lack of cryptocurrency | Poor regulation |
FXTM vs WorldForex (WForex): Safety and Regulation
| Regulated By: | FXTM | WorldForex (WForex) |
|---|---|---|
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). |
British Virgin Islands (software license) |
FXTM vs WorldForex (WForex): Trading Conditions
| Trading Conditions | FXTM | WorldForex (WForex) |
|---|---|---|
Minimum Deposit |
$50 |
$1 |
Trading Platforms |
MT4, MT5 |
MT4, WebTrader |
Max Leverage (Futures) |
1-2000 (not for all markets) |
W-Cent, W-Profi, W-Instant: 1:33 — 1:1000; W-ECN: 1:50 — 1:500; W-Crypto: 1:1 — 1:25 |
Supported Markets |
Forex, Stocks, CFDs on stocks, indexes, Commodities, Metals |
Currency pairs, cryptocurrencies, metals, oil, shares, digital contracts |
Trading assets |
1000+ |
200+ |
Trading Accounts |
Standard, Cent, Stocks, Stock CFDs, ECN , ECN Zero, FXTM pro |
W-Cent, W-Profi, W-Instant, W-Crypto, W-Digital |
Base Account Currencies |
USD, EUR, GBP, NGN |
USD, EUR |
FXTM vs WorldForex (WForex): Fees
Forex Trading Fees
| Fee | FXTM | WorldForex (WForex) |
|---|---|---|
Standard Account EURUSD Average Spread |
1.5 pips |
1.8 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
$2 per lot |
$0 |
ECN Account EUR Average Spread |
0.1 pips |
0.6 pips |
CFD Trading Fees
| Fee | FXTM | WorldForex (WForex) |
|---|---|---|
CFD Trading Fee |
Floating spread |
Fixed or floating spread |
Non-Trading Fees
| Fee | FXTM | WorldForex (WForex) |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
Bank 30 EUR, Card - 3 USD / 2 EUR / 2 GBP, FacaPay - 0.5% |
VISA - 4%+5 USD, Payment systems - 1-2.5% |
Inactivity Fee |
$5 per month after 6 months of inactivity |
Yes |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
FXTM vs WorldForex (WForex): Trading Assets
| Asset Name | FXTM | WorldForex (WForex) |
|---|---|---|
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) |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
Yes |
No |
Binary Options |
No |
No |
FXTM or WorldForex (WForex): Investment Programs
| Asset Name | FXTM | WorldForex (WForex) |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
Yes |
No |
Other |
No |
No |
Trading Platforms: WorldForex (WForex) or FXTM
| FXTM | WorldForex (WForex) | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
FXTM invest |
No |
Others |
No |
No |
|
|
|
FXTM vs WorldForex (WForex): Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | FXTM | WorldForex (WForex) |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
No |
FXTM vs WorldForex (WForex): Research
| Research Type | FXTM | WorldForex (WForex) |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
No |
FXTM vs WorldForex (WForex): Education
| Education Type | FXTM | WorldForex (WForex) |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
Yes |
WorldForex (WForex) vs FXTM: Support
| Support Features | FXTM | WorldForex (WForex) |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
callback, Telegram, Messenger Facebook, WhatsApp, |
Callback form, feedback form |
FXTM vs WorldForex (WForex): Forex Bonuses and Promo
| Promo | FXTM | WorldForex (WForex) |
|---|---|---|
Forex Bonus |
cashback of up to $5 |
The bonus of $100 when depositing from $10 |
Affiliate Program |
Refer a friend. For each new invited client, the partner receives $50 |
You do not have to be a professional in trading to become a WForex partner. Now you can earn up to 85% of the spread on the turnover of traders attracted by participating in an affiliate program. |
Other Promos |
0; return of commission for depositing; contests on demo-accounts |
|
|
|
|
Top 5 Reviews on WorldForex (WForex)
-
Comment
WorldForex can be characterized as a decent broker offering a full range of services necessary for comfortable trading. There are some drawbacks, but they are not critical. For example, the absence of a loyalty program, occurrence of slippage during periods of strong market movement, and several other shortcomings. Overall, WorldForex provides decent trading conditions.
-
Comment
I've encountered issues with the trading terminal at WForex. Several of my trades were closed prematurely, even though they hadn't reached the stop-loss level yet. I reached out to customer support and waited for a response for about five days, but the problem remained unresolved. No one even started addressing it; they just declared it a technical glitch. Therefore, I don't recommend trading with WForex!
-
Comment
The Wforex broker has some trading issues. The terminal often lags, the platform may experience difficulties, and sometimes orders fail to open. The customer support also leaves much to be desired – they may not respond to inquiries or provide standard answers. Withdrawals also take a considerable amount of time, sometimes up to 15 days. As a result, I decided to close my account on the Wforex platform.
-
Comment
In the last few months of trading with WorldForex, I've come to realize that I urgently need to change brokers. This is because I withdraw my money approximately once or twice a month. There used to be no issues with fund withdrawals. However, now WorldForex has started delaying fund withdrawals by several weeks. I don't know what this is related to, but the broker is failing to fulfill its obligations to clients.
-
Comment
My trading with WForex ended in a complete loss of my capital. I had $2,000 in the account, plus I was able to increase it by another $400. I only withdrew $150 to my bank card. After withdrawing funds, I continued trading. Trades were opened on the EUR/JPY and GBP/JPY pairs. Neither take profit nor stop loss worked for me. Although these levels have been set. I was not near the computer, so I was not able to close my trades. The support service said that I didn’t do anything myself and refused to refund my losses. I will try to get my money back from WForex through the court.
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.