FXTM vs FxPro

Which Broker Has The Best Spreads?

Spreads offered by both brokers on all financial instruments are floating. Therefore, we are going to present a head-to-head comparison between the minimum spreads offered by FXTM on its ECN account and by FxPro on its cTrader account.

An additional spread comparison on the standard account will also be reviewed.

Forex Spread Comparison

FXTM vs FxPro spread comparison on the standard account is broken down below. Starting with FXTM, the spreads across the 3 different standard account types are as follows:

• Standard account – spreads are floating and start from 1.3 pips on major currency pairs.
• Cent account – spreads are variable and start from 1.5 pips on major Forex pairs.
• Stock CFD account – spreads are floating and start from $0.1 on major stocks.

By comparison, the FxPro MT4 Instant account is the equivalent of the FXTM’s standard account and the spread on this account start from 1.5 pips. There are no trading commissions involved – only an all-inclusive bid-ask spread.

Additionally, FxPro offers fixed spreads only on seven currency pairs – EUR/GBP, EUR/JPY, EUR/USD, GBP/JPY, GBP/USD, USD/CAD and USD/JPY. Spreads on other Forex pairs and asset classes are floating.

ECN Spread Comparison

FxPro streams its bid-ask quotes from a global network of 12 liquidity providers (LPs), which enables it to offer tight spreads. By comparison, FXTM doesn’t disclose its pool of LPs.

On the free-commission trading accounts (ECN zero account and Pro account), FXTM spread starts from 0.0 pips respectively 1.5 pips on major forex pairs. Even so, there are stringent requirements (minimum account balance of USD 25,000) to benefit from lower spreads.

On the other hand, the commission-based account comes with the following spreads:

• At FxPro, spreads are kept tight and start from 0.1 pips on major currency pairs and a trading commission of $4.50 per round turn for 1 Standard Lot will be charged;
• At FXTM, spreads start from 0.1 pips and a trading commission of $4.00 per round turn for 1 Standard Lot will be charged;

FxPro uses a No Dealing Desk (NDD) execution model which operates more or less like an ECN/STP broker. Average order execution speed of less than 11.06 ms and ultra-low latency (servers located at the Equinix Data centres in LD5 London and AM4 Amsterdam).

Standard Account Spreads

When it comes to standard account spreads, both FXTM and FxPro offer competitive rates. FXTM’s spreads for the forex pairs we analysed range from 1.3 for EUR/USD to 1.5 for NZD/USD. FxPro, on the other hand, offers slightly higher spreads, ranging from 1.4 for EUR/USD to 1.6 for NZD/USD.

Standard Account Analysis Updated September 2023[1]September 2023 Published And Tested Data

Comparing these figures to the industry average, it’s clear that both brokers are offering competitive spreads. The industry average ranges from 1.5 for EUR/USD to 1.7 for NZD/USD. This means that both FXTM and FxPro are offering spreads that are either on par with or slightly below the industry average.

In my opinion, if you’re looking for the cheapest option in terms of spreads, FXTM would be the better choice. Their spreads are consistently lower than FxPro’s across all the forex pairs we analysed. However, it’s important to remember that spreads are just one factor to consider when choosing a forex broker. Other factors such as execution speed, ease of use, and trustworthiness should also be taken into account.

FXTM vs. FxPro: Conclusion

Clearly, FxPro is able to match FXTM in terms of spreads on major Forex pairs, but it lags behind on minor pairs and on some exotics. However, the spreads across the full range of CFDs offered are much tighter at FxPro. FxPro’s deep interbank liquidity allows it to keep spreads ultra-tight across Forex pairs and competitive across Metals and other CFDs making it a good choice for scalping the markets.

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*Your capital is at risk ‘73.76% of retail CFD accounts lose money’

What Leverage Is Available?

With regard to maximum leverage available to trade Forex and CFDs, while FXTM offers ratios of up to 1:2000 (in South Africa), FxPro offers ratios of up to 1:500 (internationally – FxPro Global Markets Ltd).

Still, there are considerable leverage restrictions imposed on retail investor accounts, offered in some regulation jurisdictions. For example, in the United Kingdom, under ESMA/FCA rules, the maximum leverage ratios both FXTM and FxPro offer retail clients can be presented as follows:

• 1:30 on major currency pairs;
• 1:20 on minor, exotic currency pairs, Gold and major Stock Indices;
• 1:10 on other Metals, minor Stock Indices, Energies and other Commodity CFDs;
• 1:5 on Stock CFDs;
• 1:2 on Cryptocurrencies.

Similar leverage caps are valid for the European Economic Area as well.

In South Africa, on the other hand, there are no known leverage restrictions and FXTM’s maximum leverage ratios offered to retail clients depending on the live trading account type chosen:

• 1:2000 on FXTM’s Standard account, Cent account, ECN account and ECN Zero account;
• 1:200 on FXTM’s Pro Account;
• 1:10 on FXTM’s Stock CFDs account.

Meanwhile, the highest leverage ratios offered by FxPro can be presented in the graph below.

We should note that FxPro employs a dynamic leverage model across its MetaTrader 4, MetaTrader 5 and cTrader platforms, which adapts to clients’ trading volume. As the volume of a particular trading instrument increases, the maximum leverage offered will be lower. A dynamic leverage example concerning Forex trading is presented in the table below.

FXTM vs. FxPro: Conclusion

Overall, both brokers comply with the standard leverage limits. However, globally where we don’t have severe leverage caps, FXTM offers maximum leverage of 1:2000 compared to FxPro’s 1:500 leverage ratios. FxPro only comes ahead because it implements dynamic leverage ratios which aim to reduce risk.

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What Forex Trading Platforms Do The Brokers Offer?

With both FXTM and FxPro, Forex traders can choose from a range of popular trading platforms as well as some proprietary software. The MetaTrader 4 (MT4) and MetaTrader 5 (MT5) by MetaQuotes are offered by both forex brokers.

Additionally, FxPro offers as its primary trading platform the cTrader platform along with its proprietary trading platform FxPro EDGE.

FXTM vs FxPro: MetaTrader 4 Trading Platform Comparison

The MetaTrader 4 trading platform has good Windows and Mac OSX compatibility along with a WebTrader version compatible with six popular browsers. Additionally, there is good mobile trading capability – MT4 mobile apps for iOS and Android devices.

Below we’re going to compare side-by-side a number of useful features and benefits that come with the FxPro’s MT4 and FXTM’s MT4:

• 30 technical indicators at FXTM versus 50 technical indicators at FxPro;
• 9-time frames and 31 graphical objects at both FX brokers;
• 4 pending order types (Buy Limit, Buy Stop, Sell Limit, Sell Stop) at both FX brokers;
• Sound environment for development and testing of expert advisors (EAs) and custom indicators;
• 3 order execution modes (Instant, Market, Request) at FXTM versus 2 order execution modes (Instant, Market) at FxPro;
• Access to VPS hosting service – a monthly fee of $30 and free for Premium Account holders;
• Hedging is allowed with both brokers.

Meanwhile, FxPro’s MetaTrader 4 trading platform offers a fully customisable interface and the ability to use additional trading tools such as Trader’s Dashboard, third-party trading service Trading Central and 8 different calculators.

At the same time, FXTM allows using extra trading indicators such as Pip Value Calculator, Pivots SR Levels, Day Bar Info and access to the FXTM Trading Signals tool.

FXTM vs FxPro: MetaTrader 5 Trading Platform Comparison

FxPro’s and FX TM’s MetaTrader 5 offers even more in terms of analytical, charting and customisability options. Among the key features and benefits offered are:

• Access to a more comprehensive technical analysis suite – 38 technical indicators, 44 graphical objects and 21-time frames at FXTM versus 50 technical indicators and 21-time frames found with FxPro;
• Access to Depth of Market with both FxPro and FXTM;
• 6 pending order types (Buy Limit, Buy Stop, Sell Limit, Sell Stop, Buy Stop Limit, Sell Stop Limit) with both FxPro and FXTM;
• Ability to use 4 order execution modes (Instant, Market, Request, Exchange) versus 2 order execution modes (Instant, Market) at FxPro;
• Access to advanced MQL5 environment for algorithmic trading along with multi-thread testing and optimisation of expert advisors;
• Built-in Economic Calendar available;
• Access to Depth of Market;

FxPro vs FXTM: Other Trading Platforms

In addition to the MetaTrader package, FxPro also grants access to the cTrader software. Thanks to the platform’s Smart Order Routing, clients will receive the best available bid and ask price in 100% of the cases, while their orders will be executed automatically in 99.9% of the cases.

FxPro also offers its own proprietary web trading platform, which grants access to six different asset classes and has a fully customisable interface. By accessing their FxPro Edge accounts directly from any browser, clients can take advantage of over 50 technical indicators and charting tools, 6 chart types and 15-time frames as well as market execution with no dealing desk intervention.

The FxPro Trading Platform is also available as an all-in-one mobile app solution.

Meanwhile, ForexTime, in addition to mobile apps for MT4 and MT5, also offers the FXTM Trader mobile app. The latter is proprietary software that allows for seamless trade order management while granting access to state-of-the-art charting tools and some of the most popular technical indicators.

FXTM vs. FxPro: Conclusion

The direct comparison between the two brokers shows that FxPro tops FXTM in terms of the best online trading platforms offered. FxPro’s leading charting package delivers the functionality that most forex traders are looking for. Click the button below if you want to test the MetaTrader package or the cTrader platform along with FxPro Edge.

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*Your capital is at risk ‘73.76% of retail CFD accounts lose money’

What Forex Pairs And Other Financial Instruments (CFDs) Can You Trade?

A similarity between FXTM and FxPro share is their focus mostly on Forex trading and share dealing. Though, both brokers also offer CFDs on several other asset classes – a total of 7 asset classes at FxPro versus 5 asset classes at Forextime.

Cryptocurrencies and futures trading is only available at FxPro. Bear in mind that UK traders will not be able to trade cryptocurrencies from 6th Dec, as per the FCA crypto CFD ban.

Risk warning: Trading CFDs on retail investor accounts carries a high risk of rapid capital losses as high leverage ratios are used. Therefore, retail clients should be fully aware of the way these complex instruments work before they start trading on a live account.

CFD Trading

At FxPro, trading forex can be done on over 70 major, minor and exotic currency pairs versus 62 currency pairs found at FXTM. Clearly, FxPro comes ahead as it offers the possibility to trade a more diverse list of FX pairs.

The range of financial instruments available to trade at both brokerages can be presented as follows:

• Cryptocurrencies – 5 digital currencies (Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple) at FxPro, while FXTM no longer offers crypto trading;
• CFDs on Spot Metals and Spot Energies – 7 Spot Metals and 3 Spot Energies at FxPro vs. 8 Spot Metals and Spot Energies at FXTM;
• Stock Index CFDs – 19 Stock Indices across Europe, Asia and North America available at FxPro vs. 11 Stock Indices at FXTM;
• Stock CFDs – 84 US Stock CFDs, 24 UK Stock CFDs, 15 German Stock CFDs and 15 French Stock CFDs at FxPro vs. 141 US Stock CFDs and 50 European Stock CFDs at FXTM. Non-EU clients are able to access real Stocks on the NYSE and NASDAQ with zero fees at FXTM;
• Futures CFDs – only at FxPro, CFDs on 20 Soft Commodities, Energy and Stock Index Futures.

We should note that both FXTM and FxPro have not included Bond and ETF CFDs in their product lists.

FXTM vs. FxPro: Conclusion

Overall, FxPro offers slightly more financial instruments and subsequently more trading opportunities are presented. At FxPro there are also more asset classes and traders can explore trading opportunities in the cryptocurrency market and a good selection of futures. However, stock traders can take advantage of slightly more CFD stocks at FXTM.

View FXTM ReviewVisit FXTM

Do The Brokers Offer Good Customer Support And Services (Education, Research)

Our team of experts at Compare Forex Brokers also tested how good the client support service is. In the case of FxPro and FXTM, both brokers offer clients 24/5 customer support service via several channels.

Both brokers have adopted modern methods of communications including:

• Live chat service
• Email support
• Phone call support – including callback functionality
• Messaging Apps (Telegram, Messenger) – available only for FXTM clients and only Telegram for FxPro clients

The live chat option by both FxPro and FXTM allows clients to get instant help with a particular matter (from account management to trading platform issues). We highly recommend both brokers’ live chat support, if you want to receive quick answers to your personal needs.

For general queries that are not urgent, you can get in touch with the brokers’ customer support team via email. Clients can send their inquiries to Support

And finally, FXTM and FxPro both offer client support service over the phone. To reach FXTM’s support team, clients can dial +357 25 55 87 77, while FxPro’s support can be reached by dialling +44 (0) 203 151 5550 (for international clients) or 08000 463 050 (toll-free for UK-based clients).

Other Forex Broker Services – Education And Research

With regard to Forex education, FxPro has provided two well-structured guides:

• A beginners guide that encompasses topics such as Forex basics, Trading Psychology, Fundamental Analysis and Technical Analysis;
• Guide for advanced traders that digs deeper into Fundamental Analysis with topics such as Use of Inflation data in Trading, Trading EUR pairs and Trading USD pairs.

By comparison, FXTM attempts to offer its clients a selection of free eBooks on topics such as 50 Successful Traders’ Habits, Elliott Wave Theory, Bitcoin trading, Bullish and Bearish Candlestick Patterns.

An additional selection of Forex trading strategies and an easy-to-understand explanation of popular Forex technical indicators as well as of different Forex trading styles can be found at FXTM.

Forex Video Tutorials

In addition, FxPro offers a selection of video tutorials covering topics such as Trade Habits, Market Players, FxPro Online Security, How to Fund a Trading Account etc. Meanwhile, FXTM offers short Forex trading videos structured in categories such as Forex Basics, Trading Basics, and Technical Analysis among others.

Forex Webinars

FxPro’s team of experts also conducts online Forex webinars several times per week. Live forex webinars are also conducted on a regular basis by FXTM global market experts. The webinars will guide you through key risk management techniques, daily market updates and sophisticated trading strategies.

Research Offerings

When it comes to market news and analytics, FxPro maintains a comprehensive news blog with multiple publications on a daily basis. Meanwhile, FXTM fell far short of expectations missing daily research publications

Last but not least, FxPro clients can access Forex technical analysis-based trading signals from Trading Central on the broker’s MT4 and MT5 platforms.

FXTM vs. FxPro: Conclusion

Overall, both FX brokers offer a diversity of Forex educational materials and good customer support. However, FxPro’s in-house resources top FXTM offerings due to its massive range of education courses and dedicated third-party research platform Trading Central – integrated directly with the MT4/MT5 platforms.

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*Your capital is at risk ‘73.76% of retail CFD accounts lose money’

What Are The Minimum Deposit, Deposit And Withdrawals Methods Available?

At FXTM, the minimum deposit starts at USD 10 and it can go as high as USD 25,000, while FxPro has a minimum deposit of USD 100 but it recommends its clients to deposit at least USD 1,000. Both FxPro and FXTM allow deposit and withdrawals to be made with 7 different methods.

Account Base Currencies

While FxPro allows account funding in 8 different base account currencies, FXTM offers slightly fewer options – only 7 different currencies are supported. Both FX brokers support the major currencies such as the USD, EUR and GBP. Additionally, FxPro also supports CHF, PLN, AUD, JPY, and ZAR while FXTM supports PLN, CZK, INR and NGN.

Funding Options

FXTM and FxPro share the traditional payment methods including:

• Bank transfer
• Debit Card or Credit Card by American Express, Maestro, Visa or MasterCard
• E-Wallets such as PayPal, Neteller and Skrill

At FxPro, alternative funding options include UnionPay and direct money transfer broker-to-broker (B2B). The broker-to-broker method allows for hassle-free and quick transfer of your existing forex trading account to FxPro.

Meanwhile, with FXTM clients are able to choose from extra account funding options like Dotpay and Western Union Quick Pay.

Deposit And Withdrawal Fees

There will be no deposit fees charged with any payment method at both brokers. However, FXTM will charge a withdrawal fee with some of the funding methods, while FxPro will not charge any withdrawal fees given certain conditions are met.

Note that fund withdrawals via Skrill or Neteller are fee-free. However, all other funding methods will be associated with a withdrawal fee. For example, there will be a 2% fee with PayPal, while credit card withdrawals will incur a fixed amount fee depending on the base currency.

FxPro will not charge any fees on withdrawals. However, when using methods such as Skrill or Neteller, there may be a withdrawal fee if a withdrawal request is submitted by clients without having traded. The fees will be:

• up to 2.6% with Skrill
• up to 2% with Neteller.

FXTM vs. FxPro: Conclusion

Both brokers have low minimum deposit requirements to help you start trading without investing your whole net worth. But, FxPro tops FXTM by supporting more funding currencies and by offering innovative payment options. The major drawback with FXTM is the fact that some withdrawal methods will incur a fee.

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*Your capital is at risk ‘73.76% of retail CFD accounts lose money’

What Regulation And Risk Management Do The Brokers Offer?

Regulatory oversight is another metric used in our FXTM vs FxPro review. Forex regulation is important to safeguard market integrity and to keep safe the retail traders. Both FXTM and FxPro fall under strict regulatory oversight by some of the most reputable Forex regulators across the globe.

In the United Kingdom, forex brokers need to be authorised by the Financial Conduct Authority (FCA). ForexTime UK Limited is regulated by the FCA with registration number 777911, while FxPro UK Limited has the registration number 509956.

In the European Economic Area, both FX brokers are regulated by the Cyprus Securities and Exchange Commission (CySEC): ForexTime with license number 185/12 and FxPro with license number 078/07.

Last but not least, ForexTime and FxPro offer their online trading services in South Africa where they are regulated by the Financial Sector Conduct Authority (FSCA):

• FXTM with authorisation number 45052;
• And, FxPro with authorisation number 45052.

Meanwhile, FxPro Group Limited and its corporate arms are authorised and regulated in Australia by the Australian Securities and Investments Commission (ASIC) with AFSL number 405750 and in Dubai by the Dubai Financial Services Authority (DFSA).

Internationally, FXTM operates through an entity licensed and regulated by the Financial Services Commission (FSC) of the Republic of Mauritius with Investment Dealer License number C113012295. At the same time, FxPro Global Markets Limited is regulated by the Securities Commission of the Bahamas (SCB).

Funds Safety

As multi-regulated online brokers, both FXTM and FxPro can be considered safe. FxPro keeps trader funds in segregated accounts at Barclays Bank, Julius Baer or Royal Bank of Scotland, while FXTM keeps “customer’s funds in top tier banks.”

Additionally, since ForexTime and FxPro are members of the Financial Services Compensation Scheme (FSCS), and the Cyprus Investor Compensation Fund (ICF), clients signed up with those entities in the respective jurisdictions have a guarantee that they will be compensated in an event of broker insolvency.

Negative Balance Protection

Last but not least, both FXTM and FxPro do follow negative balance protection policies. Regardless of the circumstances that could lead to negative balances, both brokers will unconditionally bring clients’ account balance back to zero.

FXTM vs. FxPro: Conclusion

FxPro tops Forextime, but overall both brokers are considered to be safe from a regulatory point of view. Compared to FXTM, FxPro has more tier-1 licenses, better protection of your private data through a 2-step verification option, NBP policy and top transparency.

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*Your capital is at risk ‘84.67% of retail CFD accounts lose money’