XM and FXTM are two well-known forex brokers with a solid reputation among traders. Both brokers provide access to numerous trading instruments and platforms, but their extra tools and support options vary. Here, we’ll contrast XM vs FXTM so you can see which one might be best for you.
As a market maker, XM determines its own bid and ask prices and uses its own capital to fulfill client orders. In a rare move for a market maker, XM promises never to requote a client’s trade and executes all client orders without exception.
FXTM is a STP (straight-through-processing) broker, meaning that it does not employ a dealing desk to handle client orders (STP). Orders placed with no dealing desk brokers are fulfilled by third-party liquidity providers rather than the broker itself. Instead, prices are compiled from a number of different liquidity providers, providing retail traders with access to conditions similar to those found on electronic communication networks.
XM Overview:
As a reputable foreign exchange broker, XM has been around since 2009. The broker is subject to oversight from a number of different financial authorities, including the Financial Conduct Authority (FCA) in the United Kingdom, the Cyprus Securities and Exchange Commission (CySEC), and the Australian Securities and Investments Commission (ASIC). XM provides access to multiple trading platforms, including the widely used MetaTrader 4 and MetaTrader 5, and a variety of trading instruments, such as forex, stocks, commodities, and indices.
FXTM Overview:
Established in 2011, FXTM is yet another prominent forex broker. The broker complies with the rules and regulations set forth by the Financial Conduct Authority (FCA) in the United Kingdom, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Services Commission (FSC) in Mauritius. Forex, stocks, commodities, and indices are just some of the trading instruments available through FXTM. The company also provides access to multiple trading platforms, such as MetaTrader 4 and MetaTrader 5.
Comparison:
1.Regulation
With oversight from multiple financial authorities, traders can rest assured that both XM and FXTM adhere to best practices. With more financial authorities monitoring XM than FXTM, customers can feel more confident in the safety of their money with XM.
Trading Platforms
When it comes to trading platforms, both of these brokers provide access to the powerful MetaTrader 4 and MetaTrader 5 platforms. On the other hand, XM provides its own trading platform, which is intuitive and offers numerous trading tools and analytical features.
Account Types
Both brokers provide a variety of trading accounts to meet the needs of their clients. Micro, Standard, and XM Zero are the only account types offered by XM, while FXTM provides a total of six: Standard, Cent, ECN, ECN Zero, FXTM Pro, and FXTM Invest. FXTM’s more varied selection of trading accounts gives clients greater freedom to find the perfect fit for their individual trading needs and preferences.
Fees and Spreads
While the spreads and fees provided by both brokers are competitive, some factors, such as the type of account and the trading instrument, may affect the overall cost of trading. While FXTM’s ECN and ECN Zero accounts are commission-free, XM’s XM Zero account does incur a fee. When comparing spreads, you’ll find that XM has low spreads on major currency pairs and FXTM has low spreads on a variety of trading instruments.
Educational Resources
Both brokers provide a variety of learning tools, such as webinars, video tutorials, and written guides. In addition to its trading platform, XM offers its clients access to a trading academy that provides a variety of learning materials designed to enhance their trading abilities.
Customer Support
Both brokers provide first-rate assistance to their clients by means of readily accessible and helpful customer service departments. Traders can get in touch with service agents via phone, email, or real-time messaging.
In conclusion, when comparing XM and FXTM, it’s clear that they’re both reputable forex brokers with numerous options for trading platforms and tools. Brokers vary in terms of the tools and support they offer, so it’s important to select one that works best for your trading style and needs. If you’re a trader who values convenience and access to a variety of regulatory bodies, XM could be a good fit. On the other hand, traders looking for flexible account options and low spreads across multiple markets may find what they’re looking for with FXTM.
