Etoro vs FXTM: Compare Pros, Cons and More 2024

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Traders consistently seek trusted and reliable trading platforms that suit their trading styles and preferences. Etoro and FXTM are top-tier regulated brokers providing online trading services worldwide. Etoro is known for its social trading and multi-asset platform, regulated in four tier-1 jurisdictions and one tier-4 jurisdiction including CySEC, FCA, Finra, FSA-S, and SIPC. On the other hand, FXTM specializes in online forex and CFD trading, regulated by one tier-1 jurisdiction, one tier-2 jurisdiction, and two tier-4 jurisdictions including FSC (Mauritius), CySEC, FSA-S, and FSCA. While these brokers offer similar services, they each have their own strengths and weaknesses.

In this article, I have compared Etoro and FXTM in terms of trading platforms, Pros, Cons, regulations, tradable assets, fees, customer support, and overall trading experience score. This analysis aims to help you determine which broker better suits your trading style and preferences.

eToro vs FXTM: In a Nutshell

eToro

eToro is a multi-asset investment company that offers 5000+ trading instruments for clients worldwide. Its headquarters are located in Central Israel. The platform is known for its advanced proprietary social investing and copy-trading platform. eToro is regulated by multiple regulatory authorities including FCA, ASIC, CySEC, FINRA, SEC, and SIPC. etoro is also available on NASDAQ with the FTCV ticker.   It has built a huge community comprising over 30 million traders who interact with each other while investors automatically copy the trades of expert traders. Additionally, you can trade real stocks, ETFs, and cryptos with eToro. To learn more, you can read our review on Etoro. 

Etoro Overview

Etoro Overview
  • Founded In: 2007
  • Founder: Yoni Assia, Ronen Assia
  • Headquarters: UK
  • Minimum Deposit: $50
  • Maximum Leverage: 30:1 EU, 50:1  USA
  • Regulations: SEC, FINRA, FCA, CySEC, FSA-S, SIPC
  • Trading platform: eToro Trading Platforms
  • Account Types: Standard, Professional, Corporate
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Giropay, Local Bank Deposits, Local Bank Transfers, Neteller, PayPal, Skrill, UnionPay, WebMoney, Yandex Money

FXTM:

Founded in 2011, FXTM is a forex and CFD broker that offers online trading services globally. The broker is regulated by multiple regulatory authorities including ASIC, IIROC, FFAJ, MFSA, MAS,  FCA, CFTC, NFA, BVI FSC. The broker has 10000+ trading instruments including forex, CFDs, Stocks, Commodities like gold, silver, and oil, and cryptocurrencies like Bitcoin, Litecoin, and Ethereum. The broker offers most popular trading platforms like MT4 and MT5. FXTM serves clients from over 150 countries and has over 45 industry awards for excellent services. To learn more, read our review about FXTM

FXTM Overview

FXTM Overview
  • Founded In: 2011
  • Founder: Andre Dashin
  • Headquarters: Mauritius
  • Minimum Deposit: $10
  • Maximum Leverage: 1:2000
  • Regulations: FSC (Mauritius)
  • Trading platform:MT4, MT5 and Mobile Trading
  • Account Types: Micro, Advantage, Advantage Plus
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Alfa-Click, Bitcoin, CASHU, Dash, DixiPay, DusuPay, Ether/Ethereum, FasaPay, Globe Pay, Konnexone, Litecoin, Local Bank Transfers, Maestro, Neteller, Ngan Luong, PerfectMoney, Qiwi, Skrill, VLoad, Yandex Money
  • US Traders: Not Accept

FXTM

  • Trading Instruments:  FX, Spot Metals, Index CFDs, Commodity CFDs, Cryptocurrency CFDs, Stock CFDs (only MT5)
  • Maximum leverage: Up to 30:1 (CySEC, ASIC), up to 1000:1 (FSA), and up to 500:1 for a professional account.
  • Minimum Deposit. 100 Euros, US dollars or British pounds 
  • Account Types: Two (Advantage and Advantage Plus
  • Trading Fees: Trading fees (spreads and commissions) depend on account types. The minimum spread is 0.0 pips ($35 per million per side) for the Advantage account and 1.5 pips (No commission) for the Advantage plus account.  
  • PAMM/ MAM:  Allowed
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

eToro vs FXTM: Pros and Cons

eToro:

Pros
  • Regulated in numerous jurisdictions including CySEC, FCA, ASIC, FinCEN, MSB, FSA Seychelles, FSC Gibraltar, and FSA Malta.
  • Trading over 5,000 forex and CFD assets plus real stocks/ETFs and Cryptocurrencies.
  • A large community of social traders
  • Trading tools like market sentiments, news feed, Trading Central analysis, etc.
  • Investors can copy the trades of expert traders or invest in ‘CopyPortfolios’
  • Real Stocks and ETFs are Available 
  • Negative Balance Protection
Cons
  • Traders pay withdrawal fees, inactivity fees, and conversion fees.
  • You have no other platform choice than the eToro platform.
  • You cannot automate your strategies via trading robots.
  • No multiple account types; you can only have a retail account or a professional account.
  • Margin trading is not available to U.S. users
  • No limit orders for stocks.
  • Not Available in American Samoa, Guam, Hawaii, Nevada, New York, Puerto Rico and US Virgin Islands

FXTM:

Pros
  • FXTM is regulated, and licensed by top-tier regulators (FCA (UK), CySEC, FSC, FSCA) 
  • Minimum deposit is $10
  • The Maximum leverage is as high as 1:2000
  • Ultra-low spreads starting from as low as 0 pips 
  • Offers Copy Trading & MAM Accounts
  • A wide range of trading instruments 
  • Negative balance protection for EU Clients 
  • Over 30 Payment Methods 
Cons
  • Inactivity and withdrawal fees
  • Does not support Myfxbook or ZuluTrader options for social trading
  • No futures or options trading
  • No negative balance protection for Non-EU Clients 
  • Most withdrawal options have a fee
  • Large spread on standard Account 

eToro vs FXTM: Side-by-Side Comparison

Etoro
FXTM
Product
Product
Founded In
Founded In
2007
2011
Founded By
Founded By
Yoni Assia
Andre Dashin
Headquarters
Headquarters
London, United Kingdom
Limassol, Cyprus
Regulations
Regulations
CySec (Cyprus) , FCA (UK).
FSC (Mauritius)
Min Deposit
Min Deposit
$50
$10
Max Leverage
Max Leverage
30:1
1:2000
Tradable Assets
Tradable Assets
Offer you over 5,000 instruments from a wide range of asset classes: Stocks, Indices, ETFs, Currencies, Commodities, Crypto
Currencies, Stocks, Indices and Commodities
Fees
Fees
Spread from 2.0 pips
Spread from 0.0 pips , 0.4¢ - $2 COMMISSIONS ON FX AND CFDS
Platforms and Tools
Platforms and Tools
eToro trading platform
MT4, MT5 and Mobile Trading
US Traders
US Traders
Allowed
Not Allowed

eToro Vs FXTM: Our Scores and Ratings

We rated both brokers, eToro and FXTM, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

eToro:

9.1
Total Score
Regulation and Security (40%)10
Fees and Commissions (20%)8
Trading (15%)9
Trading tools (10%)7
Customer Support (10%)9.5
Trading Education (5%)9

FXTM:

8.6
Total Score
Regulation and Security (40%)9.4
Fees and Commissions (20%)8
Trading (15%)7.8
Trading tools (10%)7
Customer Support (10%)9
Trading Education (5%)9

Final Verdict:

Both eToro and FXTM are regulated online trading platforms in the industry, offering services to traders and investors. However, there are some differences between them. eToro is a multi-asset and social trading platform, providing over 5000+ trading instruments, including Forex, CFDs, real stocks, and cryptocurrencies. It offers both leverage and non-leverage tradable assets. On the other hand, FXTM is a forex and CFD broker for currencies, stocks, indices, and commodities. 

Our score for eToro is 8.5, and for FXTM, it is 8.6 (based on our research; a score above 8 is considered safe and trustworthy). If you are seeking a social trading platform where you can copy other successful traders and have a one-stop solution for various types of trading, you may choose eToro. However, if you want to trade forex and CFDs, you may choose FXTM.

Risk Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89 % 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.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

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