eToro vs FXTM

eToro Vs FXTM: Which Is Better?

Deciding between eToro and FXTM (ForexTime)? The best way to make a wise decision is by comparing the features of these 2 brokers side by side so you will know their similarities, differences and which one has more advantages. In this page, we will be focusing on the most critical features that you should know about.

Table of Contents

  1. Comparison
    Compare the features (30sec)
  2. Account Types
    What accounts are offered? (20sec)
  3. Demo Account
    Are practice accounts provided? (1min 21sec)
  4. Registration
    How easy is it to sign-up? (1min 3sec)
  5. Minimum Deposit
    How much is the first deposit? (44sec)
  6. Platforms
    What apps or platforms are available? (48sec)
  7. Assets
    How many tradable assets are there? (46sec)
  1. Spreads
    What types of spread do they offer? (33sec)
  2. Deposit
    What payment methods are accepted? (48sec)
  3. Withdrawals
    How long are the withdrawal processing times? (32sec)
  4. Customer Service
    How can support be contacted? (24sec)
  5. Regulation
    Are these brokers regulated? (1min 11sec)
  6. Conclusion
    So which one is better? (1min 7sec)


Wondering if you can test out eToro? Yes you can!

Here’s the deal: This is possible by signing-up for a demo account. There’s no need for you to make a deposit if you’re not yet ready to go for live trading and that’s okay. You can use the demo account as long as you want and when you feel like you’re confident to trade for real then that would be the time that you can make your first deposit. Simply click the button below and this will open eToro’s quick online registration page. .


YES, TAKE ME TO ETORO!

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Comparison

Check out this table of eToro vs FXTM's features side by side. We've compiled this data based on the most recent information that we have gathered from these 2 brokers so you can see the comparison clearly.

 

Broker eToro FXTM
Minimum Deposit $50 - $1000 (depends on country) $10
Markets 3000+ 1300+
Market Types Stocks, Commodities, Currencies, Indices, Crypto, ETFs Stocks, Commodities, Currencies, Indices
Spreads Variable Fixed, Variable
Deposit Methods Credit/Debit Card, PayPal, Neteller, Skrill, Rapid Transfer, iDEAL, Klarna/Sofort Banking, Bank Transfer, Local Online Banking Credit Card, Skrill, VLOAD, TC Pay Wallet, Neteller, WebMoney, Yandex.Money, QIWI, Perfectmoney, Konnexone
Demo Account Yes (Unlimited) Yes (30 days)
Regulation FCA (UK), CySEC (Cyprus), ASIC (Australia) FSC (Mauritius)
Customer Support Email, Live Chat Phone, Email, Live Chat
Side-by-side comparison of eToro vs. FXTM

Account Types

Both eToro and FXTM offer the same types of accounts for their clients: retail and professional.

With FXTM, these are basically the only 2 options but with eToro, there’s an eToro Club which is a tiered membership comes with extra privileges based on the users equity size and not the deposit:

  • Silver
  • Gold
  • Platinum
  • Platinum​+
  • Diamond

Keep in mind though that the eToro Club is available for certain regulations and the platform languages.

Demo Account

Most brokerages offer demo accounts for their traders and the good news is that you can experience these features from eToro and FXTM.

How can you actually use this?
Via a practice account, you’ll be able to get a feel of the platform and do some test trades without worrying about your capital since you will only use virtual funds and not real money.

eToro’s demo account has no expiry and can be used for a lifetime as long as you have an active account with them. FXTM’s demo account however is only valid for 21 days. That’s just 3 weeks so this might not be ideal for you especially if you prefer to use a demo account that won’t give you any time pressure.

Having a lifetime demo account is a lot more convenient since you can use the virtual mode any time you want to or whenever you feel like doing risk-free trading rather than one that will eventually be deactivated.

eToro web-based platform in Virtual Portfolio mode
eToro web-based platform in Virtual Portfolio mode
FXTM WebTrader demo account
FXTM demo account

Want to try out the demo?

If you’re already curious to see eToro’s demo account, you can quickly test it out simply by clicking this button. You’ll be required to open an account but there’s no need to deposit any amount yet since you’ll only use the virtual portfolio. Should you decide to proceed with live trading, then that will be the time that you’ll have to make an initial deposit into your account.


TRY THE ETORO DEMO!

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Registration

You can register for an account via a web browser (which is the more convenient way) or from any of the platforms that they offer.

If you’re going to sign-up with eToro, you’ll initially be asked for a username, a password and an email address but with FXTM, there are a few more details required and this includes your first name, last name, email address and phone number. Take note that FXTM will not ask for a password yet as this will be required from you after confirming your account registration via email so their process is a bit more time consuming.

 

Broker eToro FXTM
Registration requirements Username, Email Address, Password First Name, Last Name, Country, Phone Number, Email Address, Password
eToro vs. FXTM initial registration requirements

Remember that this is just the initial part of the registration. All brokerages, particularly licensed and regulated brands, are mandated to ask their clients to complete and verify their profile by providing a few more personal additional details and proof of identity for security purposes.

Here’s the deal:
You can also register for an account with eToro and FXTM via Facebook and Google. If you have an existing account with these services and it’s okay with you to link them with your online trading account then you can do so simply by choosing this option.

Minimum Deposit

If you’ve decided to open an account with eToro and make your first deposit, the initial amount that you can transfer to your account will be primarily based on your country of residence. If you’re a resident of the United States then the minimum deposit is just $50. But if you’re from the United Kingdom then the initial deposit requirement is $200 or its equivalent value in British pounds. In general, eToro’s minimum deposit requirement may range from $50 to $1000.

FXTM’s minimum deposit is lower at $10 but keep in mind that this is only applicable for Cent account holders. Should you decide to select other account types then the initial deposit requirement is higher. Micro accounts require a minimum of $50 while Advantage and Advantage Plus has a minimum of $500.

 

Broker eToro FXTM
Minimum Deposit $50 - $1000 (depends on country of residence) $10
eToro and FXTM minimum deposit comparison

Platforms

With eToro, there are 2 platforms in general to choose from. The first is the web-based version which can be accessed directly via any web browser. You just need to have Chrome, Firefox, Edge or Safari on your computer or smartphone and go to www.etoro.com to be able to trade on this user interface. There’s no need to download or install anything.

If you have a smartphone or tablet that’s powered by Android or iOS then you also have the option of installing their mobile app which have been optimized for touchscreen devices.

For FXTM traders, there are several more options to choose from and you can decide on which one to use based on your trading and market preferences:

  • MetaTrader 4 (MT4)
  • MetaTrader 5 (MT5)
  • FXTM Trader

So what's the catch?
Not all assets are accessible on these platforms of FXTM. There are some instruments that you can only access on the Web Trading platform and are not available on MetaTrader 4.

 

Broker eToro FXTM
Web-based
Android
iOS
Windows
Mac
Platforms offered by eToro and FXTM

Assets

Look:
The more markets you can access with a broker, the better you can diversify your investment portfolio. Majority of brokerages have only around 100 to 500 tradable assets so that’s not quite diverse enough for you to explore other trading opportunities.

So how many products does eToro and FXTM have?

Currently, eToro has well above 3000 instruments and they continue to add more so that’s quite a lot of choices. FXTM as of press time has around 1000 assets which is quite an improvement given that they previously had around just 250 options to choose from.

Comparison of eToro and FXTM's tradable assets
Comparison of eToro and FXTM's tradable assets

What can I benefit from this?
A broker that has more accessible assets will give you the opportunity to diversify your trading portfolio. That means you won’t just settle for a few stocks or currency pairs, and this will give you more control over your investments since you can place Buy and Sell contracts on other interesting markets.

Spreads

There are 2 types of spreads: fixed and variable.

As the name itself implies, fixed spreads are spreads that do not change regardless of the market conditions while variable spreads may change based on how the market is currently performing.

With eToro, the spreads that they provide variable so instruments that are susceptible to high volatility like crypto will naturally have wider spreads than more stable asset classes. In contrast, FXTM’s spreads are fixed so these are calculated using a fixed rate and are not going to change regardless if the market is crashing or booming.

Keep in mind that both fixed and variable spreads have their own pros and cons depending on your trading needs.

Deposit

This is very much true particularly when you’re going to fund your account. If you are given more options to make a deposit then that would make it more convenient since there are many ways to do it as compared to having just 1 or 2 options.

With eToro, traders can fund their account by using credit/debit cards, PayPal, Neteller, Skrill, Rapid Transfer, iDEAL, Klarna/Sofort Banking, bank transfer and local online banking. Do take note that the availability of some of these payment gateways are dependent on the country where you reside and the regulator that supervises your account.

FXTM’s banking methods are much less as it only accepts Visa or MasterCard credit and debit cards, Skrill, Wire Transfer and PayPal. This is a non-issue if you’re used to utilizing any of the supported methods but in the event that your payment service provider experiences technical issues or has decided to ban using them for online trading then you only have few other options.

Withdrawals

When you take your money out from eToro or FXTM, it only takes only up to 1 business day for them to process the request given that you have already provided them with important documentation.

Remember: The withdrawal processing time is the time it takes for them to take action with your request to cash out your funds. This is not the same as the time it would take for you to see the funds in your bank account or chosen payment method as this is primarily dependent on your payment service provider which would usually take 3 to 8 business days under normal circumstances.

eToro and FXTM withdrawal processing times
eToro and FXTM withdrawal processing times

Customer Service

Contacting the customer support departments of these brokers can be done via email and live chat only. Unfortunately, there’s no phone support but most brokerages have already removed this option since going online is the most common option.

With eToro however, there are more complementary options for such as opening a ticket or using the Help Center which has a comprehensive library of information which might be useful for their users. FXTM on the other hand has a basic FAQ page.

Regulation

Note: One of the most important things that you need to check before signing-up a broker is its regulation. It will always be wise to find one that has an active license that is granted by a known financial authority like FCA or CySEC because these are known to strong and dependable regulators.

The eToro brand is authorized and regulated in various jurisdictions. As of this writing, they have the following active licenses:

  • Cyprus Securities & Exchange Commission (CySEC): eToro (Europe) Ltd. is licensed with company registration # HE20058.
  • Financial Conduct Authority (FCA): eToro (UK) Ltd. is authorised and regulated with company registration # 7973792.
  • Australian Securities and Investments Commission (ASIC): eToro AUS Capital Pty Ltd. is the holder of an Australian Financial Services Licence (AFSL) 491139 issued by this regulator.

The FXTM brand is also multi-regulated and below are the licenses that they have:

  • Cyprus Securities & Exchange Commission (CySEC): ForexTime Limited is regulated with CIF license # 185/12.
  • Financial Conduct Authority (FCA): ForexTime Limited is authorised and regulated in the UK with license # 777911.
  • Financial Sector Conduct Authority (FSCA): ForexTime Limited is licensed in South Africa with FSP # 46614.
  • Financial Services Commission (FSC): Exinity Limited is under the regulation of the FSC in Mauritius with license # C113012295 as an “Investment Dealer”.

Pretty much, it goes to say that eToro and FXTM managed to have met the standards of such known regulators to be granted these licenses.

Conclusion

In general, if you’re deciding between eToro and FXTM then you have 2 very good choices. Both are multi-regulated brands and have licenses from very strict regulators including FCA and CySEC. Platform-wise, they also have a suite of offerings for their clients and this gives them the option to trade conveniently and access their account on several supported devices. And when it comes to withdrawals, they can process such requests quicker than most brokers in the market and it only takes not more than 1 business day for verified accounts.

But here's a fact: No 2 brokers are alike. In terms of social trading, eToro has the advantage with its optimized platform that has simplified this feature even for beginners. It’s not that complicated to understand and has a lot of settings and customizations that can be used for managing the risks. While FXTM has noticeably increased the number of markets that they offer to around 1300, it’s still no match to eToro’s growing list of instruments which has now breached the 3000 mark. FXTM had the upper hand when it comes to spreads even reaching 0 on major FX pairs although eToro’s are not that far behind.

Bottom line? These are known and established online brokerages but if you’re considering to explore more investment opportunities such as social trading then eToro is the much better option.


Convinced that eToro is the winner in this detailed comparison?

If that’s a yes then the next step to take is to open an account with this broker and you can easily do that by clicking on the button below. This will open eToro’s quick online registration page which will only take no more than a minute to finish.


YES, TAKE ME TO ETORO!


eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results.

Cryptoassets are volatile instruments which can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading cryptoassets is unregulated and therefore is not supervised by any EU regulatory framework.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

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*67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.