Compare forex brokers FXTM VS Etoro

If you're choosing between FXTM and Etoro forex brokers, we've compared hundreds of data points side-by-side to make finding the right broker for you easier. Is FXTM better than Etoro? After assessing the two forex brokers on nearly 50 different variables, we would be able to get into an informed conclusion.

FXTM VS ETORO

eToro
eToro Overview

eToro is an online trading platform that was founded in 2007. eToro is the pioneering online broker for social trading. They also offer self trading. They are regulated by FCA, CySEC and ASIC.

FXTM
FXTM Overview

FXTM is ECN/STP broker that was established in 2011 to offer Forex and CFDs and is highly regulated in the UK by the FCA among other regions. They offer the trading of over 250 assets through the MT4 and MT5 platforms.

# Broker's Features FXTM Availability ETORO Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will compare FXTM vs Etoro.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. FXTM offers Online Financial Trading and Investment Services Such as Bitcoin, Forex, CFDs, CFDs on Bitcoin, CFDS on Spot metals, Cryptocurrencies, while Etoro offers Bitcoin.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. FXTM is Broker, ECN, while Etoro is Market Maker, No dealing desk, STP.

Minimum Deposit Requirement: To compare these two FX brokers, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. FXTM recommended minimum capital is 10, while Etoro has a Minimum Deposit Requirement of 50.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. FXTM is regulated by CySEC, FCA, IFSC, while Etoro regulated by NFA, CySEC, ASIC, CFTC, MiFID, FCA. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Account currencies: Next lets consider the Account currencies each broker offers. FXTM offers EUR, USD, GBP, NGN different account currencies for each account types, while Etoro offers EUR, USD, GBP, JPY, CHF account currencies.

Languages Available: Next lets have a look at each broker's different Language options. FXTM offers English, Russian, over 18 languages supported, while Etoro offers English, French, Spanish, German, Russian, Italian Customer Support Languages.

Payment methods: Next lets have a look at each broker's payment options. FXTM offers Credit Cards, Wire Transfer, PayPal, Bitcoin different payment methods for each account types, while Etoro offers Credit Cards, PayPal, Wire Transfer, Bitcoin payment methods.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, FXTM makes MetaTrader 4, MetaTrader 5, MetaTrader 4 MultiTerminal, Web available to clients, while Etoro offers eToro webTrader, etoro Openbook, eToro Mobile Trad.

The Verdict: FXTM or Etoro?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, Etoro is more reliable based on our criteria above. Etoro has a wider range of instruments to trade giving you the flexibility to get access and exposure to a wide range of markets. Regulations play a huge role in protecting the traders/investors interest as they compel the financial service providers such as forex brokers to act in a fair and ethical manner. Etoro broker is regulated in more major hubs. Etoro offers a wider range of Account currencies. Why does base currencies matter? Because if you fund your account in the same currency as your bank account, currency conversion fees won't be charged. Customer service in your national language might not be a major concern for traders based in English-speaking countries, but it is a defining requirement for traders from other regions such as Asia and South America. Etoro has a wider range of languages in which customer service is offered making the broker more accessible.

What We Really Like on Etoro

eToro offers commission-free stock and ETF trading in Europe and offers low fees for non-EU clients. Account opening is fast and seamless. It has innovative features like social trading that lets you copy others.

What We Don’t Like on FXTM

FXTM charges inactivity and withdrawal fees. The financing costs for overnight positions are not lowest and their calculation is non-transparent at all. The product portfolio is limited as it lacks asset classes, like ETFs, bonds, mutual funds, etc.

What We’d Like More on Etoro

eToro has an unreliable customer service, and its trading platform freezes sometimes. Also, education tools are very limited.

Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.