FXTM Vs FxPro

Category: Broker Guides | Author: Trading Brokers | Date: July 19, 2023

Are you considering trading with FXTM or FxPro but finding it challenging to decide which one is the best fit for you? Both brokers offer attractive features and services, making the choice difficult. In this comparison, we will help you identify the key differences between FXTM and FxPro, addressing your pain points and guiding you toward making an informed decision. Whether you’re concerned about fees, account types, available assets, or other factors, we’ve got you covered. Let’s dive into the details and find the broker that aligns best with your trading needs and goals.

FXTM Overview

FXTM

FXTM

FXTM is a reputable forex and CFD broker that has been serving clients worldwide since 2011. Headquartered in Cyprus, FXTM is regulated by esteemed financial authorities such as the FCA and CySEC, ensuring a secure and transparent trading environment. The broker offers a wide range of trading instruments, including forex, commodities, indices, shares, and cryptocurrencies, providing traders with diverse market opportunities. FXTM caters to different trading preferences with its three account types: Standard, Cent, and Shares, accommodating traders with varying capital sizes. The minimum deposit required to open an account is $50, making it accessible for traders of different levels.

FXTM offers popular trading platforms such as MT4, MT5, and AutoChartist, providing traders with advanced charting tools and seamless trading experiences. To support their clients’ trading journey, FXTM offers educational resources such as webinars, seminars, and educational articles, empowering traders with valuable knowledge and skills. Additionally, the broker provides multilingual customer support through various channels, ensuring prompt assistance for clients in multiple languages such as English, Spanish, French, Arabic, Chinese, and more. With its comprehensive offerings and commitment to client satisfaction, FXTM stands as a reputable choice for traders seeking a reliable and well-regulated broker.

Pros and Cons of FXTM

Pros:

  • Regulated by top-tier authorities, such as the UK FCA, the Australian ASIC, and the South African FSCA.
  • Low spreads and high leverage on forex and CFD trading.
  • Copy trading and social trading options available

Cons:

  • Does not accept US-based traders due to regulatory restrictions.
  • Limited product portfolio, as it does not offer bonds, mutual funds, and options.
  • Withdrawal fees are charged for most payment methods, except for bank wire transfers.
  • No social trading platforms are supported, such as Myfxbook or ZuluTrade
FXTM Logo

FXTM is an award-winning broker with strict regulation in multiple jurisdictions. They have user-friendly trading platforms, various account types and funding methods, along with a vast range of educational materials and trading tools to help you make informed trade decisions.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

FxPro Overview

FxPro

FxPro

FxPro is a well-established forex and CFD broker with a global presence. Founded in 2006 and headquartered in the UK, the company is regulated by reputable financial authorities including the FCA, CySEC, FSCA, and SCB, ensuring compliance with strict regulatory standards. FxPro offers a diverse range of trading instruments encompassing forex, commodities, indices, shares, and cryptocurrencies, providing traders with ample market opportunities. The broker offers multiple account types, including MT4, MT5, cTrader, FxPro Edge, and WebTrader, catering to the preferences and needs of various traders. With a minimum deposit requirement of $100, FxPro offers accessibility to traders with different levels of capital. To support their clients’ trading journey, FxPro provides educational resources such as webinars, seminars, and educational articles, empowering traders with valuable knowledge and insights. Additionally, the broker offers research tools such as market analysis and daily market updates, keeping traders informed about the latest market trends. FxPro places a strong emphasis on customer support, offering assistance through email, phone, and live chat, with multilingual support available in languages including English, Spanish, French, Arabic, Chinese, and more. With its comprehensive offerings and commitment to client satisfaction, FxPro stands as a reputable choice for traders seeking a reliable and regulated broker.

Pros and Cons of FxPro

Pros

  • Regulation and Trustworthiness
  • Wide Range of Trading Platforms
  • Competitive Pricing and Spreads
  • Diverse Range of Trading Instruments
  • Research and Educational Resources

Cons

  • FxPro applies an inactivity fee to dormant accounts after 12 months of no trading activity. The inactivity fee is $50 per year and is deducted from the account balance until it reaches zero or the account is reactivated.
  • FxPro does not accept US-based traders due to regulatory restrictions
FxPro Logo

FxPro is a regulated online broker that offers hundreds of tradable assets on multiple sophisticated platforms; cTrader, MetaTrader and FxPro Edge. They also offer trading tools, third-party analysis and trader education. However, the spreads and fees are not the lowest.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Comparison Between FXTM and FxPro

Let’s take a closer look at some key features that differentiate FXTM and FxPro and help you make an informed decision about your trading journey

Regulation and Trustworthiness:

When considering regulation, both FXTM and FxPro exhibit strong compliance with various regulatory bodies. FXTM falls under the regulation of the FCA, CySEC, FSCA, and the FSC. On the other hand, FxPro adheres to regulations by CySEC, FCA, FSCA, DFSA, and SCB. These multiple regulatory approvals highlight the commitment of both FXTM and FxPro to maintaining trustworthy and credible trading environments for their clients.

Trading Platforms:

FxPro stands out by offering a wider selection of trading platforms compared to FXTM. In addition to the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, FxPro provides access to cTrader, FxPro Edge, and WebTrader. MT4 and MT5 are renowned for their user-friendly interface, extensive charting capabilities, and automated trading options. cTrader is known for its advanced order execution and depth of market features. FxPro Edge is a proprietary platform designed for intuitive and efficient trading. WebTrader allows traders to access their accounts and trade directly from their web browsers. With a diverse range of platforms, traders can choose the one that suits their trading style and preferences.

Pricing and Fees:

FXTM and FxPro have competitive forex fees and spreads. FXTM offers an average spread of 0.3 pips for EUR/USD in ECN accounts and 1.9 pips in Standard accounts with commissions ranging from $2 to $4 per lot per side. FxPro provides an average spread of 0.46 pips for EUR/USD in cTrader accounts and 1.43 pips in MT4/MT5 accounts with a $4.50 commission per lot per side in cTrader accounts. FXTM charges withdrawal fees (except for bank wire transfers) ranging from $3 to $30 per transaction and a $5 inactivity fee after six months of no trading activity. FxPro does not charge withdrawal fees for credit/debit cards but has high bank withdrawal fees of $40 to $60 depending on the currency and destination and a $50 inactivity fee after one year of no trading activity.

Broker Type:

FXTM and FxPro are both hybrid brokers that offer different execution methods depending on the account type. FXTM offers four account types: Standard Cent, Standard MT4, ECN MT4/MT5, and ECN Zero MT4/MT5. The Standard Cent and Standard MT4 accounts are market maker accounts that use instant execution and fixed or floating spreads. The ECN MT4/MT5 and ECN Zero MT4/MT5 accounts are ECN accounts that use market execution and variable spreads with or without commissions.

FxPro offers five account types: MT4 Instant Execution, MT4 Market Execution, MT5 Market Execution, cTrader Market Execution, and Edge Market Execution. The MT4 Instant Execution account is a market maker account that uses instant execution and fixed spreads. The other four accounts are NDD (no dealing desk) accounts that use market execution and variable spreads with or without commissions.

Leverage:

Both FXTM and FxPro offer high-leverage options, allowing traders to amplify their trading positions. FXTM provides leverage up to 1:2000, while FxPro offers leverage up to 1:500. High leverage can be advantageous as it allows traders to control larger positions with a smaller amount of capital. However, it is important to note that leverage also increases the risk of potential losses.

Asset Selection:

Both FXTM and FxPro offer a diverse range of trading instruments, allowing clients to access various markets. FXTM provides access to over 250 financial instruments, including forex currency pairs, commodities, indices, shares, and cryptocurrencies. FxPro offers a similarly wide selection, with over 260 financial instruments across multiple asset classes.

Social Trading:

FXTM offers social trading through its FXTM Invest service, which allows investors to copy the trades of experienced strategy managers for a fee. Investors can choose from hundreds of strategy managers based on their performance, risk level, and trading style. Strategy managers can earn up to 40% of the profits they generate for their investors. FxPro does not offer social trading directly, but it supports third-party platforms such as ZuluTrade and Myfxbook Autotrade that enable copy trading.

Minimum Deposit:

FXTM has a low minimum deposit of $10 for Standard and Cent accounts and $200 to $500 for ECN accounts. FxPro requires a higher minimum deposit of $100 for all account types and recommends at least $1,000 for sufficient margin levels. FXTM’s lower minimum deposit makes it more accessible for traders with smaller budgets. Consider other factors like trading costs, platforms, and available instruments when choosing a broker.

Withdrawal and Deposit Methods:

FXTM and FxPro support various withdrawal and deposit methods, such as credit/debit cards, bank transfers, and e-wallets. However, there are some differences in the fees, processing time, and availability of some methods. FXTM does not charge any fees for credit/debit cards and e-wallets, such as Neteller and Skrill, and processes them within 24 hours. FxPro also does not charge any fees for these methods but processes them within one business day. FxPro also supports PayPal, which FXTM does not. FXTM supports M-Pesa, a local payment method for Kenya, while FxPro supports UnionPay and Crypto, local payment methods for China and other countries. Both brokers charge fees for bank transfers and take up to five business days to process them.

Which Should You Choose: FXTM or FxPro?

When recommending a broker based on trader types or requirements, it is important to consider various factors. For beginner traders who are just starting their trading journey, FXTM may be a suitable choice due to its user-friendly platforms, extensive educational resources, and lower minimum deposit requirement. The broker’s emphasis on customer support and accessible account types can provide a supportive environment for novice traders. On the other hand, for experienced traders or those with specific trading requirements, FxPro may offer more advanced features and platforms. With its wider range of trading platforms and tools, FxPro can cater to the needs of professional traders who require advanced charting capabilities, customizable interfaces, and sophisticated order management tools. Additionally, for traders who have specific preferences for trading instruments or markets, it is advisable to carefully assess the asset selection offered by each broker to ensure they meet your requirements.

Conclusion

In conclusion, both FXTM and FxPro are reputable brokers that offer competitive trading conditions, diverse asset selection, and robust regulatory oversight. FXTM excels in providing comprehensive educational resources and multilingual customer support, while FxPro stands out with its wide range of advanced trading platforms and research tools. To determine the best choice between the two, traders should consider their individual trading preferences, goals, and requirements. It is recommended to assess factors such as regulation, platforms, pricing, asset selection, and customer support to make an informed decision.


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