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||NADEX Availability|
|#||Accepts US traders||❌||✔|
|#||24 hour trading||✔||❌|
|#||Trading by phone||✔||❌|
|#||1st deposit bonus||❌||❌|
|#||Forex contests competitions||✔||❌|
|#||Interest charges on the balance||❌||❌|
|#||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 Nadex.
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, Cryptocurrencycurrency, while Nadex offers Currencies, Commodities, Indices, Cryptocurrency.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. FXTM is Market Maker, ECN, STP, while Nadex is Market Maker.
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 Nadex has a Minimum Deposit Requirement of .
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 Nadex regulated by CFTC. 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 Nadex offers 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 Nadex offers English Customer Support Languages.
Payment methods: Next lets have a look at each broker's payment options. FXTM offers Credit/Debit Cards, Bank Wire Transfer, PayPal, Bitcoin different payment methods for each account types, while Nadex offers ACH, Credit/Debit Cards, Bank Wire Transfer payment methods.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, FXTM makes MT4, MT5, MT4 MultiTerminal, Web available to clients, while Nadex offers Proprietary.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, FXTM is more reliable based on our criteria above. FXTM 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. FXTM broker is regulated in more major hubs. Only FXTM Offers the MetaTrader Platform. MetaTrader platform is a comprehensive trading platform that is often touted as being the best for forex trading. A popular, versatile and unique tool. FXTM offers a wider range of platforms making it easier for the traders to choose one that matches their needs most. FXTM 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. FXTM has a wider range of languages in which customer service is offered making the broker more accessible. One of the criteria we looked at before opening an account on a forex broker is the minimum deposit amount. FXTM broker offers lower minimum deposit requirement. As FXTM offer STP execution, you can expect tighter spreads with more transparency over the price you‘re paying to execute your trades. As a market maker, FXTM may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically has larger capital and minimum trade requirements. Market makers typically have a lower minimum deposit, smaller minimum trade requirements and no commission on trades. Only FXTM provides training and education resources which is extremely critical to beginner traders who may not be familiar with most of what goes on in the Forex markets.
FXTM customer service gives fast and relevant answer. They can also be contacted in many languages. From a demo account to live webinars, you can use a lot of educational tools. The account opening is fast and fully digital.
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.
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.