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Pepperstone Review 2022

For this Pepperstone review, we opened a live account and deposited over €6,000.

We traded the popular instrument in each market to determine the actual spreads and placed 12 trades in total.

We contacted the broker’s customer support team to resolve the challenges we faced.

Finally, we withdrew our funds to test if the withdrawal process was smooth.

What is Pepperstone

Pepperstone is an Australian Forex and CFDs broker founded in 2010.

The broker is licensed in Australia, the United Kingdom, Cyprus, Bahamas, the UAE and Kenya.

Pepperstone offers the following tradable instruments: forex pairs, indices, stocks, commodities, cryptocurrencies and a currency index.

The broker’s product range is quite limited as compared to some of its peers.

Here’s a summary of Pepperstone’s key features:

🗺️ Authorised & Regulated inAustralia, UK, Cyprus, Bahamas, UAE, Kenya
🛡️ Is Pepperstone safeYes
💰 EUR/USD Spread1.15
💳 Minimum depositAUD $200
💰 Withdrawal feeUS$0
🖥️ Trading PlatformMT4, MT5, cTrader
📈 Markets offeredForex, Indices, Stocks, Commodities, Cryptocurrencies, Currency index
📉 Number of Products158

Is Pepperstone Regulated

Pepperstone is licensed by 5 regulators worldwide including the top-tier UK’s FCA, Australia’s ASIC, Cyprus’ CySEC, Dubai’s FSA, the Bahamas’ SCB and Kenya’s CMA.

Here’s a full list of the licenses held by Pepperstone’s subsidiaries:

Legal entityRegistered inRegulatorLicense NumberAccepting Clients FromCompensation Scheme Amount
Pepperstone Group LimitedAustraliaAustralian Securities and Investment Commission (ASIC)414530AustraliaNo Compensation Scheme
Pepperstone LimitedUnited KingdomFinancial Conduct Authority (FCA)684312United Kingdom£85,000
Pepperstone EU LimitedCyprusCyprus Securities and Exchange Commission (CySEC)388/20EU€20,000
Pepperstone Markets LimitedBahamasSecurities Commission of The Bahamas (SCB)SIA-F217Globally many countries No Compensation Scheme
Pepperstone Financial Services (DIFC) LimitedUnited Arab EmiratesDubai Financial Services Authority (DFSA)3460Middle EastNo Compensation Scheme
Pepperstone Markets Kenya LimitedKenyaCapital Markets Authority (CMA)128KenyaNo Compensation Scheme
Pepperstone FCA (Financial Conduct Authority) registration
Pepperstone FCA License

Is Pepperstone Safe

Yes, Pepperstone is safe to trade. The broker is regulated by the top-tier UK’s FCA and Australia’s ASIC, which have stringent rules and enforcement processes.

The FCA guarantees traders registered under the UK entity deposit compensation of up to £85,000 in case the broker declares bankruptcy.

The CySEC also guarantees investors deposit compensation of up to €20,000 if they are registered under the Cyprus entity, and the broker goes under.

We did not encounter any major challenges when trading with Pepperstone.

Pepperstone UK

For this review, we opened an account under Pepperstone Limited, the UK entity regulated by the Financial Conduct Authority (FCA). We deposited funds into the account, placed trades, and finally, withdrew our funds.

We recommend that you open your account under the UK entity since it offers the highest deposit protection compensation of up to £85,000 guaranteed by the UK’s FCA, which is the best in the industry.

You can also open your account with the Cyprus entity, given that the CySEC guarantees investors compensation of up to €20,000.

Pepperstone Fees and Commissions

Pepperstone charges low fees for most of the instruments on offer except for cryptocurrencies.

The broker’s average spreads for the popular instruments in each market were below industry averages.

However, we found the spreads on Bitcoin trades to be way above industry averages, making the broker unfriendly to cryptocurrency traders.

Pepperstone Spread Charged in our Trades

For our tests, we chose to trade the popular instrument in each market. We placed 3 trades for each instrument to get a full picture of the average spread. We tested the Standard Account with Pepperstone Limited, which charges a spread on all tradable instruments. The spreads varied slightly as shown in the table below.

MarketsInstruments1st trade 2nd trade 3rd trade Avg. Spread
ForexEUR/USD1.21.21.051.2
IndicesFTSE 1001111
Stocks Apple0.751.150.650.9
CommoditiesGold1.61.61.551.6
CryptocurrenciesBitcoin130107.6791.9110

We tested all our trades via the MetaTrader 5 mobile application on our iPhone. Pepperstone offers the popular MT4 and MT5 platforms in addition to the cTrader platform.

Looking at the spreads charged in our trades, we found that most were lower than industry benchmarks. However, the Bitcoin spreads were more than double the industry average, which stood out. Spreads on all the other assets were lower than the average spreads charged by its peers.

MarketsInstrumentsAvg. Spread ChargedIndustry Avg. Spread
ForexEUR/USD1.21.16
IndicesFTSE 10011.65
StocksApple0.91.75
CommoditiesGold1.63.53
CryptocurrenciesBitcoin11072.81

Other fees

Pepperstone does not charge other non-trading fees such as account inactivity fees or deposit and withdrawal fees.

Pepperstone Account Types

Pepperstone offers 2 account types with separate fee structures, that is, the Razor and Standard accounts. See the differences below:

Razor Standard
Institutional grade spreadsYesYes
Average EURUSD spread0.0 – 0.3 pips1.0 – 0.3 pips
Commissions* From AUD$7 round turn 100k traded$0
Rollover swapsRefer to your trading platform for market ratesRefer to your trading platform for market rates
Best forScalpers and algorithmic tradersNew traders

Pepperstone also offers swap-free Islamic Accounts that charge an administration fee for trades held for over 3 nights instead of the typical swap fee.

For our tests, we chose to open a Standard Account.

Account Opening

Pepperstone account opening is quite straightforward. We tested the entire process while opening our account, and it was fully digital.

Here are the 5 steps to opening a Pepperstone account:

  1. Enter your country of residence, preferred language, client type, full name, email address, and phone number.
  2. Enter your personal address including country of residence, State, city, Street name and number and ZIP code.
  3. Provide your nationality and specify if you are a US citizen for tax purposes, your education level, employment status, nature of your business, and employer’s name.
  4. Answer questions about your annual income, savings and investments, source of funds and trading objectives, and your expected deposit over 12 months.
  5. Verify your identity and residential address using either a National ID or Passport and a bank statement.
Pepperstone Account Opening
Pepperstone Account Opening

The registration process took a total of 20 minutes, and our account was approved on the next day, as expected.

Our account was approved after submitting all the required documents. We were allowed to choose the entity under which we wanted to register our account.

We chose to open a standard account with Pepperstone Limited, which the UK’s FCA regulates.

Deposit and Withdrawal

Pepperstone offers fast deposits and withdrawals. There are various options for funding your account, including bank wires, credit and debit cards, and e-wallets such as PayPal.

Minimum Deposit for Pepperstone

Pepperstone has a minimum deposit of AUD $200 for both its Razor and Standard accounts.

Deposit

Pepperstone clients can deposit funds into their trading accounts using debit/credit cards, bank transfers, and e-wallets.

The payment options available to a trader depend on the entity under which their account is registered. The Australian entity provides the most payment options, followed by the UK entity, which provides three payment options.

Traders registered under the Dubai and Bahamas entities can only use wire transfers to fund their accounts.

The details of our deposits are shown in the table below:

Payment MethodSubmitted DateFunded Account DateFunding TimeFee
Credit card03 March 2022 03 March 2022Instantzero
PayPal03 March 202203 March 2022Instantzero

All the deposit methods offered by Pepperstone are instant and free. However, a bank transfer could take a few business days to reflect in your trading account.

Withdrawal

Pepperstone processes client withdrawals via the payment methods available for deposits, making it convenient for clients to withdraw their funds.

Given that we registered our account under the UK entity, we had access to three payment methods: credit/debit cards, PayPal, and bank transfers.

We withdrew our funds via credit card and PayPal since we had not used bank transfers to deposit.

Pepperstone Deposit Methods
Pepperstone Deposit and Withdrawal Methods

We noticed that the withdrawals were not instant and took between 1 and 2 days to arrive in our accounts.

Payment MethodSubmitted DateFunds Released DateFunds Arrived DateWithdrawal TimeFee
Credit card03 March 202204 March 202205 March 20221 dayzero
PayPal05 March 202209 March 202209 March 20222 dayszero

Our withdrawals took between 1 and 2 days to arrive in our accounts, which as fine.

Markets and Products

At Pepperstone, you can trade CFDs on Forex pairs, stock indices, stocks, commodities, cryptocurrencies and a currency index.

Pepperstone CFD Review

Here’s the complete list of Pepperstone’s product offering:

MarketsInstruments
Forex61
Indices14
Stocks64
Commodities9
Cryptocurrencies9
Currency index1

Trading Conditions

The trading conditions at Pepperstone are good. You can run most trading strategies since the broker allows high-risk strategies such as hedging and scalping.

There are no time limits for how long you can keep your hedging positions open. Pepperstone also allows traders to use Expert Advisors (EAs).

Trading MethodAllowed
HedgingYes
ScalpingYes
Change LeverageNo

Leverage

Pepperstone offers different leverage levels to its clients depending on the entity under which they registered their account.

Traders cannot change the leverage level of their account after registration.

The table below outlines the different leverage levels available to clients:

MarketsPepperstone Group LimitedPepperstone LimitedPepperstone EU LimitedPepperstone Markets LimitedPepperstone Financial Markets (DIFC) LimitedPepperstone Markets Kenya Limited
Major Currency pairs500:130:130:1500:150:1400:1
Minor Currency Pairs100:120:120:1500:150:1400:1
Exotic Pairs10:110:110:1500:150:1400:1
Gold 500:120:120:1500:150:1400:1
Indices100:120:120:1500:150:1400:1
Other Commodities (except gold)100:110:110:1500:120:1400:1
Cryptocurrencies100:15:15:15:15:1N/A

Trading Platform

Pepperstone offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms to its clients, as well as the cTrader platform.

The broker does not have a proprietary trading platform. Traders can trade via the broker’s web platform provided by MetaTrader, as well as via the mobile and desktop MT4, MT5 and cTrader applications.

Pepperstone MT4

Pepperstone Trading Platforms
Pepperstone Trading Platforms

The lack of a proprietary trading platform may dissuade some traders, but the MT5 and cTrader platforms are great.

Pepperstone’s web platform can be customised to a great extent and generates a detailed fee report. However, it is a bit dated and can be slow at times.

Research and Tools

Pepperstone provides research tools via the in-built features on the MetaTrader 4 platform. However, the platform’s news feature is quite basic, and it does not provide fundamental data or trade ideas.

The broker provides trade ideas via Autochartist, a feature that is accessible within the secure client area. Traders can also download the plugin and connect it to the trading platform to get notifications on the go.

Pepperstone also offers detailed market analysis written by its in-house experts, such as its daily newsletter, “The Daily Fix”, and a “Chart of the Day” series.

The broker also offers the Smart Trader tools that work on the MetaTrader platform and include sentiment trackers, a correlation matrix, and a trade simulator, among other tools.

Pepperstone Technical Analysis Tool
Pepperstone Technical Analysis Tool

Education

The broker offers platform tutorial videos, educational videos, and webinars to suit all types of traders. Beginner traders also get to benefit from the detailed educational articles that are part of the brokers “learn to trade” section.

Pepperstone also have a YouTube channel that offers dozens of educational videos that cover different topics suitable for all levels of traders from beginners to advanced traders.

Pepperstone Demo Account

Pepperstone offers a demo account that allows traders to test their strategies and familiarise themselves with the markets without risking their own money.

Clients who deposit over $2500 get access to premium educational content and trading signals from BK Forex.

Pepperstone Educational Material
Pepperstone Webinars

Customer Service

Pepperstone’s customer support team was helpful and provided direct and relevant answers to our questions. Our first interaction with the customer service team was via live chat we received an accurate answer to our question.

Pepperstone Customer Support
Pepperstone Customer Support

You can contact Pepperstone via email and live chat. We were connected to the customer service team almost instantly via the live chat function since we waited for less than one minute.

Our email query was answered within two hours, which was quite impressive, and we got a clear, direct and accurate answer to our question about the withdrawal process.

See the results of our tests below:

QuestionResponse TimeQuality of reply
Live chatWe tried to withdraw all our funds1 minuteWe got a high quality reply very quickly
EmailAbout withdrawals2 hoursIt was direct, detailed and accurate.

Conclusion

Overall, our experience with Pepperstone was smooth from the account opening, to the deposit, trading and withdrawal processes.

The broker offers a small number of tradable instruments compared to other brokers. We traded across 5 markets and apart from Bitcoin, the spreads on all instruments was lower than the industry average. Pepperstone allows scalping and hedging but forbids the changing of leverage after one has opened an account.

The responses from the customer service team were fast and they gave us high-quality answers to our questions. We encourage traders to use the live chat function when they encounter any issues given the prompt feedback we got using this method.

We recommend Pepperstone to open account with the UK, Australia or Cyprus entities if any is available to you. And traders who are

  • Beginning traders
  • Experienced traders
  • Scalping or Hedging trader
  • EA trader
  • Trading CFD

Pepperstone might not be a fit if you are

  • Trading Futures or Real Stocks

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XM vs IC Markets

Is XM better than IC Markets? Who offers lower spread, better trading conditions and is safer broker to trade?

We provide answers to all questions in this XM vs IC Markets Comparison Review. For this Review we opened real accounts and deposit over US$ 6,000 in total to compare both offerings, account opening process at XM vs IC Markets, also the fees, trading conditions, platform selection and withdrawal process.   

What is XM and IC Markets

XM is a global Forex and one of the regulated CFD brokers, offering trading with Forex pairs, indices, stocks, and commodities

IC Markets is an Australian Forex and CFDs broker founded in 2007, headquartered in Sydney, Australia.

Some of the highlights of XM vs IC Markets are:

XMIC Markets
💻 Websitewww.xm.comwww.icmarkets.com
🛡️Founded year20092007
🏦 HeadquarterLimassol, CyprusAustralia
🗺️ Authorized & Regulated inUK, Cyprus, Australia, UAE, BelizeAustralia, Cyprus, Seychelles, Bahamas
🔒 Is Broker safeYesYes
💰 EUR/USD Spread1.61.02
💳 Minimum depositUS$5US$200
💰 Withdrawal feeUS$0$0
🖥️ Trading PlatformMT4, MT5Meta Trader 4, Meta Trader 5, cTrader
📈 Markets offeredForex, Indices, Stocks, CommoditiesForex, Indices, Stocks, Commodities, Cryptocurrencies
📉 Number of Products1336559
🔎 Our Detailed ReviewXM ReviewIC Markets Review

Licenses and Regulation

XM vs IC Markets are both safe to trade and are highly reliable, low-risk trading Brokers due to regulations and are not a scam.

XM is regulated by the top-tier ASIC, and Cyprus’ CySEC, which have strict rules and enforcement mechanisms.

IC Markets is licensed by Cyprus’ CySEC, Seychelles’ FSA, and the Bahamas’ SCB.

For this review, we opened an account with XM Trading Point of Financial Instruments Limited, regulated by CySEC and with IC Markets (EU) Limited, licensed by the CySEC

We recommend that you open your account with the XM Cyprus entity since it is the only one that offers deposit protection to traders if it is available to you and with the IC Markets Australian or Cyprus entities if either is available to you.

 XMIC Markets
🔒 LicensesASIC,
CySEC,
DFSA
FCA,
FSC
ASIC,
CySEC,
SCB,
FSA
Top Tier License✔️✔️
Publically Traded❌❌
Compensation Scheme✔️ (depending on entity)✔️ (depending on entity)

XM vs IC Markets Fees

XM and IC Markets fees are similar, built into a spread basis, and both have commission based accounts.

There are no additional fees charged by XM, moreover, the broker charges average fees for trading the main instruments and the fees charged on stocks and commodities are lower than industry averages.

Most of the account types offered by IC Markets have very low spreads and do not charge a commission. Only the Raw Spread Account charges a commission.

 XM FeesIC Markets Fees
Fees based on spread✔️✔️
Floating Spread✔️✔️
Fixed Spread❌❌
Commission based fees✔️ ✔️
Inactivity Fee$0$0
Deposit fee$0 $0
Withdrawal fee$0 $0
Active trader/ VIP Programs✔️✔️

Spreads Charged in Our Trades

For our test trades on XM vs IC Markets accounts, we chose popular instruments in each market. We placed 3 trades for each instrument to get the average spread and we were able to find both negative and positive sides for each Broker spreads.

A closer look at the spreads charged in our XM trades revealed that they were all aligned with industry benchmarks. The broker’s spreads on indices, commodities and stocks were slightly lower than those of its peers.

Through our testing we found that IC Markets spreads were generally low. The fees charged for trading indices, Forex pairs, commodities and cryptocurrencies were much lower than industry averages.

MarketsInstrumentsXM commissionIC Markets commissionIndustry avg. spread
IndicesFTSE 1001.51.11.65
ForexEUR/USD1.61.01.16
CommoditiesGold3.52.23.53
StocksAAPL1.351.51.75
CryptocurrenciesBitcoin39.2472.81
ETFsQQQ0.45

Account Types Compared

XM offers 5 account types with different fee structures, that is, the Micro, Standard, XM Zero, XM Ultra-low, and Shares accounts.

IC Markets offers 4 account types with slightly different features: the Standard account, cTrader raw spread account, the Raw spread account, and the Islamic account.

XM account opening is quick and effortless. The registration process took exactly 14 minutes, and our account was approved two days later.

IC Markets account opening is quick and seamless. The registration process took exactly 14 minutes, and our account was approved in one working day.

 XM AccountsIC Markets Accounts
Standard Account✔️✔️
ECN / Commission Based Account❌❌
Islamic Account✔️✔️
PAMM Account❌❌

Markets and Products

XM vs IC Markets both offer a large variety of tradable instruments in the Forex, indices, stocks and commodities markets.

MarketsXM InstrumentsIC Markets Instruments
Indices2623
Forex5761
Commodities1712
Stocks1236453
Cryptocurrency10
ETFs
Bonds

Trading Conditions

The trading conditions both at XM vs IC Markets are great. Both traders allow high-risk strategies such as hedging and scalping.

Trading MethodXMIC Markets
Hedging✔️ ✔️
Scalping✔️ ✔️
Change Leverage✔️✔️
Copy trading/ Social trading✔️✔️
Beginners Trading✔️✔️
Professional Trading✔️✔️

Deposit and Withdrawal

XM processes client withdrawals via the same payment methods available for deposits making it easy for clients to withdraw their funds. It also does not charge any withdrawal fees. IC Markets does charge an AUD $20 fee on international bank transfer withdrawals.

Both XM vs IC Markets’ clients can deposit funds into their trading accounts via bank transfers, debit/credit cards, and e-wallets such as Skrill, PayPal, and Neteller.

The deposit methods offered by XM are instant and free. Anyway, the first deposit has to be made via credit card.

We have tested the deposit process on IC Markets using multiple payment modes. Both deposit and withdrawal processes on IC Markets are quick and simple.

XMIC Markets
💰 Deposit Fee❌❌
💰 Withdrawal fee$0$0 ($20 for international bank withdrawals)
💳 Minimum depositUS$5US$200
Bank Transfer✔️✔️
Debit/ Credit Cards✔️✔️
PayPal✔️✔️
Skrill✔️✔️
Neteller✔️ ✔️

Trading Platform

Both XM vs IC Markets offer the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms to their clients and do not have a proprietary trading platforms.

While the XM MT4 platform is a bit dated, we found the MT5 platform to be more than adequate for traders who prefer a modern platform.

Algorithmic traders will find a home with IC Markets, which offers fast execution speeds and guarantees no requotes on submitted trades. The broker’s cTrader platform offers the cAlgo app that algorithmic traders can use. The cTrader Copy app allows for social copy trading.

XM PlatformIC Markets Platform
Proprietary Platform❌ ❌
Web Platform✔️✔️
Desktop Platform✔️ ✔️
Mobile App✔️✔️
Alternative Platforms❌❌
MetaTrader4✔️ ✔️
Simple to use platform✔️✔️
Demo Account Trading✔️✔️
Execution Agency Model❌❌
Research✔️✔️
Advanced Research tools✔️ ❌

Education and Support

XM vs IC Markets both have a great education offering for beginners. XM’s Tradepedia video course provides an in-depth guide to the markets. The videos are of high quality with excellent delivery from the instructors.

IC Markets offers a great forex trading course for beginners that covers topics such as technical analysis and trading psychology.

XM runs over 40 webinars weekly in different languages that its clients can join and learn about the markets. The webinars are based on experience level and take place in different timezones to suit its clients.

We found that IC Markets’ education offering lacks depth, and we would like to see the broker add more content on intermediate and advanced topics.

XM SupportIC Markets Support
Trading School for Beginners✔️✔️
Tutorials✔️✔️
Trading Videos❌✔️
Webinars✔️✔️
Daily News and Analysis✔️✔️
Economic Calendar✔️✔️
Live Chat✔️✔️
Email Support✔️✔️
24/7 availability❌✔️

Conclusion on XM vs IC Markets

Comparing XM vs IC Markets side by side we found both brokers reliable and with good standing. XM provides great customer support response times and the spreads on most instruments are aligned with industry averages. IC Markets provides relatively low spreads and breakneck execution speeds.

Overall, we had a smooth experience with XM starting from the account opening, to the deposit, trading and withdrawal processes.

We recommend XM to traders who prefer the MT4/5 platforms and to those who run EAs due to the free VPS service. The broker is also suitable for beginner traders because of its detailed educational materials.

Overall, our experience with IC Markets was positive. Our experience with customer support was also good.

We recommend IC Markets to all levels of traders from beginners, intermediate and advanced traders who can all benefit from its services.

XMIC Markets
Recommended for✔️ CFD Stocks trading
✔️ Beginning Traders
✔️ Experienced traders
✔️ Trading Currency Pairs
✔️ EAs trading
✔️ Scalping trader
✔️ Hedging trader
✔️ Trading through MT4 / MT5
✔️ Beginning Traders
✔️ Trading Currency Pairs
✔️ Cryptocurrency Trading
✔️ Scalping trader
✔️ Hedging trader
Might not be fit for
❌ Commission based trading
❌ Real Stock / Futures Trading
❌ Trading Futures or Real Stocks
❌ Commission based trading

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GO Markets Review 2022

For this GO Markets review, we opened a live account and deposited over €4,500.

We traded the popular instrument in every market to discover the actual spreads and placed a total of 12 trades.

We reached out to the broker’s customer support team to resolve the challenges we faced.

Finally, we withdrew our funds to determine if the withdrawal process was smooth.

What is GO Markets

GO Markets is a global forex broker founded in 2006 with its headquarters located in Australia.

The broker is licensed in Australia, Cyprus, the UAE, Mauritius, and Seychelles.

GO Markets offers hundreds of tradable instruments in the following categories, Forex pairs, indices, metals, commodities and shares.

The broker offers a limited number of tradable instruments as compared to industry leaders.

Here’s a summary of GO Markets’ main features:

🗺️ Authorised & Regulated inCyprus, Australia, UAE, Seychelles, Mauritius
🛡️ Is GO Markets safeYes
💰 EUR/USD Spread1.02
💳 Minimum depositAUD$ 200
💰 Withdrawal fee$0
🖥️ Trading PlatformMT4, MT5
📈 Markets offeredForex, Indices, Metals, Commodities, Shares
📉 Number of Products378

Licenses and Regulations

Go Markets is licensed by 5 global regulators, including the top-tier Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), the UAE Securities & Commodities Authority (SCA), the Financial Services Commission (FSC) of Mauritius, and Seychelles’ Financial Services Authority (FSA).

Here’s a full list of the licenses held by GO Markets’ subsidiaries:

Legal entityRegistered inRegulatorLicense NumberAccepting Clients FromCompensation Scheme Amount
GO Markets LtdCyprusCyprus Securities & Exchange Commission (CySEC)322/17EU€20,000
GO Markets Pty LtdAustraliaAustralian Financial Services License (AFSL)254963Australia, Globally many countriesNo compensation scheme
GO Markets MENA DMCCUAEUAE Securities & Commodities Authority (SCA)Middle EastNo compensation scheme
GO Markets International LtdSeychellesSeychelles Financial Services Authority (FSA)SD043SeychellesNo compensation scheme
GO Markets LtdMauritius Financial Services Commission (FSC) of Mauritius 19024896MauritiusNo compensation scheme
GO Markets ASIC (Australian Securities and Investments Commission) Registration
GO Markets ASIC License

Is GO Markets Safe

Yes, GO Markets is safe to trade. The broker is regulated by the top-tier Australian Securities and Investments Commission (ASIC), which has strict rules and enforcement procedures.

The broker is also licensed by Cyprus’ CySEC, the UAE’s SCA and Seychelles’ FSA. The CySEC guarantees investors’ deposit compensation of up to €20,000 if the broker goes bankrupt.

We had a smooth experience when trading with GO Markets.

For this review, we opened an MT4 standard account with GO Markets Limited, licensed by the Cyprus Securities and Exchange Commission (CySEC). We deposited money into the account, placed trades, and later withdrew our funds.

We recommend that you open your account with the Australian or Cypriot entities if they are available to you. Australia’s ASIC does not offer deposit compensation but is regarded as a tier 1 regulator because of its strict rules.

Meanwhile, the CySEC offers deposit protection of up to €20,000 if the broker becomes insolvent.

Fees and Commissions

GO Markets charges both low and high fees for trading the main assets on offer. The fees charged for trading Forex pairs, and commodities, are lower than industry benchmarks.

However, the average fees charged on indices such as the FTSE 100 are much higher than industry averages.

Two of the three accounts offered by GO Markets charge both a commission and a spread on trades. Only the Standard MT4 account charges a spread only with zero commissions.

Spread Charged in our Trades

For our tests, we traded the most popular instrument in each market. We placed 3 trades per instrument to get an accurate estimate of the average spread. We tested GO Markets’ Standard Account on the MT4 platform, which charges a spread on all instruments.

MarketsInstruments1st trade 2nd trade 3rd trade Avg. Spread
ForexEUR/USD11.0511.02
IndicesFTSE 1004444.00
CommoditiesGold2.42.552.352.43

We executed all our trades via the MetaTrader 4 mobile app on our iPhone.

A deeper look at the spreads charged in our trades revealed that they were mixed. The spreads on Forex and commodity trades were lower than industry averages. However, the spreads on indices were much higher than industry benchmarks, as shown below.

MarketsInstrumentsAvg. Spread ChargedIndustry Avg. Spread
ForexEUR/USD1.021.16
IndicesFTSE 1004.001.65
CommoditiesGold2.433.53

Other fees

GO Markets does not charge any other non-trading fees such as deposit and withdrawal fees or account inactivity fees.

Account Types

GO Markets offers 3 account types with slight differences. The accounts are known as the Standard account, the GO Plus+ account and the Pro account.

Here are the differences outlined below:

GO Plus+ AccountStandard AccountPro Account
Trading PlatformsMetaTrader 4 & 5MetaTrader 4 & 5, CTraderMetaTrader 4 & 5
Account CurrencyAUD/ USD/ EUR/ GBP/ NZD/ CAD/ SGD/ CHF/
HKD
AUD/ USD/ EUR/ GBP/ NZD/ CAD/ SGD/ CHF/
HKD
AUD/ USD/ EUR/ GBP/ NZD/ CAD/ SGD/ CHF/
HKD
Minimum DepositA$200A$200US$3,000
CommissionA$3.00 per side on standard lotsZero
US$3.5 per side on standard lots
Order ExecutionMarket ExecutionMarket ExecutionMarket Execution
SpreadFrom 0From 1From 0
Note

Go Markets also offers a demo account that allows traders to test their strategies and get to know the markets without risking their own money.

For our tests, we chose to open the Standard MT4 Account.

Login Account

GO Markets account opening is quick and seamless. We went through the entire process and completed it digitally.

Here are the 5 steps to opening a GO Markets account:

  1. Enter your country, first and last name, email, referrer ID, promo code, and phone number.
  2. Provide your date of birth and tax details, including clarifying if you are a US citizen or a politically exposed individual.
  3. Enter your education level, employment status, and the nature of your business.
  4. Answer detailed questions about your trading experience covering topics such as different order types, the margin required for different lot sizes, and the impact of market moves on profits and losses.*
  5. Enter your income sources, estimated annual income, net worth, the purpose of your trading, how much money you intend to invest.
  6. Verify your account.
GO Markets Account Opening
GO Markets Account Opening

The registration process took 27 minutes, and our account was approved in 2 hours.

GO Markets is the only broker we have found asking detailed trading questions to verify your trading experience.

We provided our ID and a bank statement to verify our account.

For this test, we opened the Standard MT4 Account with GO Markets Limited, which the CySEC regulates.

Deposit and Withdrawal

GO Markets offers free and fast deposits and withdrawals. Traders can deposit and withdraw from their accounts via bank transfers, credit and debit cards, and e-wallets such as Skrill, PayPal, and Neteller.

GO Markets Deposit Methods
GO Markets Credit Card Deposit

Minimum Deposit

GO Markets has a minimum deposit requirement of A$200 on its GO Plus+ and Standard accounts. The Pro account has requires a minimum deposit of US$3,000.

GOMarkets Review Deposit

GO Markets’ clients can deposit funds into their trading accounts via bank wire transfers, debit and credit cards, and e-wallets such as Skrill, PayPal, and Neteller.

The table below shows the details of our deposits:

Payment MethodSubmitted DateFunded Account DateFunding TimeFee
Skrill19 March 2022 19 March 2022Instant€0.00
Credit Card19 March 202219 March 2022Instant€0.00
NetellerN/AN/AN/A€0.00

We were unable to fund our account using Neteller as our deposit attempt failed. We got the following error message from Neteller: “Unfortunately, we could not process the payment.”

Withdrawal

GO Markets allows its clients to make withdrawals via the same payment methods available for deposits making it easy for investors to access their funds.

GO Markets does not charge a fee on withdrawals.

Payment MethodSubmitted DateFunds Released DateFunds Arrived DateWithdrawal TimeFee
Credit card22 March 202224 March 202224 March 20222 working dayszero
Skrill19 March 202226 March 202229 March 20227 working dayszero
NoteOur 1800 EUR Skrill withdrawal was on hold for many days and we had to send an email to follow up.

We had a few challenges while withdrawing our funds. We made an 1800 EUR withdrawal via Skrill and a 3030.25 EUR withdrawal via credit card. We received EUR 3,000 to our credit card and EUR 30.25 to our Skrill account.

However, our EUR 1800 was pending for several days until we sent a follow-up email, and the broker released the funds on the same day.

Markets and Products

GO Markets offers various tradable instruments in the Forex, indices, stocks, and commodities markets.

Here’s the complete list of GO Markets’ product offerings:

MarketsInstruments
Forex52
Indices14
Stocks306
Commodities6
Cryptocurrencies0

The broker’s collection of stock CFDs is adequate, but some competitors offer thousands of tradable instruments. However, traders located in the European Union do not have access to stock CFDs.

Trading Conditions

The trading conditions at GO Markets are great. Traders can execute most trading strategies since the broker allows high-risk strategies such as hedging and scalping.

GO Markets also allows traders to run automated strategies powered by Expert Advisors (EAs). Traders can use the VPS service to run non-stop automated strategies remotely.

There are no time limits for how long traders can keep their hedging positions open.

Trading MethodAllowed
HedgingYes
ScalpingYes*
Change LeverageYes

*Traders registered under GO Markets International Ltd cannot deploy scalping strategies as the strategy is not allowed.

Leverage

GO Markets offers its clients various leverage levels based on the entity under which their account is registered.

Traders are also allowed to change their account’s leverage levels after registration.

The table below shows the different leverage levels available to clients:

MarketsGO Markets Ltd (CySEC)GO Markets Pty Ltd (AFSL)GO Markets International Ltd (FSL)GO Markets Pty Ltd (FSC of Mauritius)
Major Currency Pairs30:130:1300:1300:1
Non-major Currency Pairs20:120:1200:1200:1
Gold20:120:1150:1150:1
Other Commodities (except gold)10:110:1100:1100:1
Indices5:120:1100:1100:1
Stocks5:15:15:15:1
Cryptocurrencies1:12:120:120:1

Bonus

GO Markets does not offer bonuses to its clients (Find brokers offering Welcome Bonus Forex $50).

Trading Platform

GO Markets offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms to its clients. Clients can access the two platforms via the desktop and mobile MT4 and MT5 applications.

GO Markets MT4 Trading Platform
GO Markets MT4 Platform

The broker’s WebTrader platform offers the premium MT4 and MT5 Genesis advanced plugins available only on Windows computers. Clients also have access to social trading features via the Myfxbook integration.

We found the MT5 platform to be a bit more modern than the MT4 trading platform, which feels a bit dated.

Research and Tools

GO Markets provides market research via the features found on the MetaTrader platforms such as Trading Central., which provides trade insights from analysts, pattern recognition indicators and much more.

Traders also have access to Autochartist for real-time trading alerts and volatility analysis on both the MT4 and MT5 web platforms. Algorithmic traders also get access to a Virtual Private Server (VPS) and a-Quant daily trading signals based on machine learning/artificial intelligence.

The broker also provides the advanced MT4 and MT5 Genesis add-ons, a series of expert advisors (EAs) that can be easily added to a live trading account. The add-on helps traders who are not coders to use automated strategies.

MetaTrader’s charting resources are okay, but the platform’s design and functionality are a bit outdated.

Go Markets Analytics Tools
Go Markets MT4 VPS

The broker also provides news, podcasts, an economic calendar and much more.

Education

GO Markets offers several learning resources within its education centre. The broker provides over a Forex Trading Handbook that offers an introduction to the Forex markets for beginner traders.

The broker also offers a series of MT4 tutorials that explains all the platforms features helping new traders understand how to use the platform.

Traders also have access to a series of free Forex education courses split into two tracks, with the ‘First Steps in Forex’ course catering to beginner traders. The ‘Next Steps in Forex’ course caters to intermediate traders.

GO Markets Educational Material
GO Markets Webinars

Customer Service

GO Markets’ customer service team was very helpful and gave us direct and accurate answers to our questions. Our first contact with the team was via live chat, where we asked about the 30% bonus, the order execution types and withdrawal fees.

We received a fast response from the agent, who clarified that there was no ongoing promotion. The order execution type is market execution, and the brokers do not charge a fee on deposits and withdrawals.

GO Markets Customer Support
GO Markets Customer Support Live Chat

You can reach the GO Markets customer support team via email and live chat. We asked our second query via email to know how long it would take to receive our Skrill and credit card withdrawals.

We got a response in four hours saying that Skrill and Neteller withdrawals are instant and should take a maximum of 10 minutes, while credit cards withdrawals are processed within 24 hours and should reflect in our account within three days.

Here are the results of our test below:

QuestionResponse TimeQuality of reply
Live chatWe asked if the 30% bonus still live? What’s the order execution type? Do you charge any withdrawal fees?We reached a support agent within 2 minutes.It was direct, fast and accurate.
EmailHow long time it will take to receive fund withdrawn via Skrill and Credit card?We received feedback within 4 hours. It was direct and accurate.

Conclusion

Overall, our experience with GO Markets was good, from the account opening to the deposit and trading process.

The broker doesn’t charge a deposit or withdrawal fee, but we could not use Neteller as a payment method despite the broker offering it as an option. Our Skrill withdrawal was delayed due to technical issues.

The broker’s customer support team was accommodating and responsive, as evidenced by the swift live chat responses. The email response times were average.

We recommend GO Markets for traders who

  • Experienced traders
  • Beginners
  • Intermediate
  • Run Scalping
  • Hedging
  • Use automated trading strategies
  • Trading through MT4/MT5 platform

GO Markets  might not be a fit if you are

  • Stock / Futures Trading
  • Commission based trading
  • Prefer other platforms than MetaTrader


Categories
Uncategorized

IC Markets Review 2022

For this IC Markets review, we opened a live account and deposited over €5,000.

We traded the popular instrument in each market to identify the actual spreads and placed 12 trades in total.

We contacted the broker’s customer support team to resolve the challenges we faced.

Finally, we withdrew our funds to discover if the withdrawal process was smooth.

What is IC Markets

IC Markets is an Australian Forex and CFDs broker founded in 2007 headquartered in Sydney, Australia.

The broker is licensed in Australia, Cyprus, Seychelles and The Bahamas.

IC Markets offers hundreds of tradable instruments in the following categories, Forex pairs, indices, stocks, commodities and cryptocurrencies.

The broker offers a diverse range of products compared to its competitors.

Here’s a summary of IC Markets’ main features:

🗺️ Authorised & Regulated inAustralia, Cyprus, Seychelles, Bahamas
🛡️ Is IC Markets safeYes
💰 EUR/USD Spread1.02
💳 Minimum depositUS$200
💰 Withdrawal fee$0
🖥️ Trading PlatformMeta Trader 4, Meta Trader 5, cTrader
📈 Markets offeredForex, Indices, Stocks, Commodities, Cryptocurrencies
📉 Number of Products559

Licenses and Regulations

IC Markets is licensed by 4 regulators worldwide, including the top-tier Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC), Seychelles’ Financial Services Authority (FSA) and The Securities Commission of The Bahamas (SCB).

Here’s a full list of the licenses held by IC Markets’ subsidiaries:

Legal entityRegistered inRegulatorLicense NumberAccepting Clients FromCompensation Scheme Amount
International Capital Markets Pty LtdAustraliaAustralian Financial Services License (AFSL)335692AustraliaNo compensation scheme
IC Markets (EU) LtdCyprusCyprus Securities & Exchange Commission (CySEC)362/18EU€20,000
Raw Trading LtdSeychellesFinancial Services Authority (FSA)SD018Globally many countriesNo compensation scheme
IC Markets InternationalBahamasThe Securities Commission of The Bahamas (SCB)Globally many countriesNo compensation scheme
IC Markets CySEC (Cyprus Securities and Exchange Commission ) Registration
IC Markets CySEC License

Is IC Markets Safe

Yes, IC Markets is safe to trade. The broker is regulated by the top-tier ASIC, which has stringent rules and enforcement mechanisms. The broker is also licensed by Cyprus’ CySEC, Seychelles’ FSA and The Bahamas’ SCB.

The CySEC guarantees investors’ deposit compensation of up to €20,000 if the broker goes bankrupt. Traders have to be registered under the Cypriot entity to qualify for compensation in case of bankruptcy.

We did not encounter any major challenges when trading with IC Markets.

For this review, we opened a standard MT5 account with IC Markets (EU) Limited, licensed by the Cyprus Securities and Exchange Commission (CySEC). We deposited money into the account, placed trades, and later withdrew our funds.

We recommend that you open your account with the Australian or Cyprus entities if either is available to you. While Australia’s ASIC does not offer deposit compensation, it is regarded as a tier 1 regulator because of its stringent rules.

On the other hand, the CySEC offers deposit protection of up to €20,000 if the broker becomes insolvent.

IC Markets Fees and Commissions

IC Markets charges low fees for trading most of the main instruments on offer. The fees charged for trading Forex pairs, indices, commodities and cryptocurrencies were much lower than industry averages.

However, the average spreads charged on stock trades were in line with industry charges.

Most of the account types offered by IC Markets have very low spreads and do not charge a commission. Only the Raw Spread Account charges a commission.

IC Markets Spread Charged in our Trades

In our tests, we traded the most popular instrument in each market. We placed 3 trades per instrument to get an accurate estimate of the average spread. We tested IC Markets’ Standard Account on the MT5 platform, which charges a spread on all instruments. The spreads were generally low, as detailed in the table below.

MarketsInstruments1st trade 2nd trade 3rd trade Avg. Spread
ForexEUR/USD1.05111.0
IndicesFTSE 1001.051.1511.1
StocksApple11.521.5
CommoditiesGold1.82.52.352.2
CryptocurrenciesBitcoin42.5529.8345.3439.24

We executed all our trades via the MetaTrader 5 mobile app on our iPhone.

A deeper look at the spreads charged in our trades revealed that they were mostly below industry standards. Only the average stock trading spreads were in-line with industry benchmarks.

MarketsInstrumentsAvg. Spread ChargedIndustry Avg. Spread
ForexEUR/USD1.01.16
IndicesFTSE 1001.11.65
StocksApple1.51.75
CommoditiesGold2.23.53
CryptocurrenciesBitcoin39.2472.81

Other fees

IC Markets does not charge any other non-trading fees such as deposit and withdrawal fees or account inactivity fees.

IC Markets Account Types

IC Markets offers 4 account types with slightly different features. The accounts are known as the standard account, cTrader raw spread account, the raw spread account, and the Islamic account.

See the differences below:

Standard AccountCTrader Raw Spread AccountRaw Spread AccountIslamic Account
Trading PlatformsMetaTrader 4 & 5MetaTrader 4 & 5, CTraderMetaTrader 4 & 5MetaTrader 4 & 5
Account CurrencyUSD, EUR, GBP, AUD, CAD, SGD, NZD, JPY, CHF, HKDUSD, EUR, GBP, AUD, CAD, SGD, NZD, JPY, CHF, HKDUSD, EUR, GBP, AUD, CAD, SGD, NZD, JPY, CHF, HKDUSD, EUR, GBP, AUD, CAD, SGD, NZD, JPY, CHF, HKD
Minimum Deposit$/€/£ 200$/€/£ 200$/€/£ 200$/€/£ 200
Commission
$7 per lot
Order ExecutionInstant ExecutionInstant ExecutionInstant ExecutionInstant Execution
SpreadFrom 1From 0From 0From 0
NoteThe Islamic account is offered to clients of Muslim faith only

IC Markets offers swap-free Islamic Accounts to Muslim clients only. These accounts do not attract a swap fee for positions held overnight. However, trades held for more than 3 nights attract an administration fee.

For our tests, we chose to open the Standard MT5 Account.

Account Opening

IC Markets account opening is quick and seamless. We went through the entire process, and completed it digitally.

Here are the 5 steps to opening an IC Markets account:

  1. Enter your full name, country of residence, mobile phone number, and email address.
  2. Choose your account type, enter your date of birth and address including the city, state/province and ZIP code.
  3. Select your trading platform, account type, and choose the base currency of your account.
  4. Provide your trading experience, select your security question and input the answer.
  5. Enter your employment information, source of wealth, trading experience, investment objectives and goals and your risk tolerance.
  6. Verify your account.
IC Markets Account Types
IC Markets Account Types

The registration process took exactly 14 minutes, and our account was approved in one working day.

We were asked to provide the front and back pictures of our National ID/ Passport/ Drivers’ License.

We also provided a utility bill as proof of residence accompanied by a credit card/ bank statement as an additional verification document.

For this test, we opened the Standard MT5 Account with IC Markets (EU) Limited, which is regulated by the CySEC.

Deposit and Withdrawal

IC Markets offers free and fast deposits and withdrawals. Traders can deposit and withdraw from their accounts using the following payment methods, bank transfers, credit and debit cards, and e-wallets such as Skrill, PayPal, and Neteller.

The broker charges a high fee of AUD $20 for international bank withdrawals.

IC Markets Deposit Methods
IC Markets Deposit and Withdrawal Methods

IC Markets Minimum Deposit

IC Markets has a minimum deposit requirement of $/€/£ 200 on all accounts.

Deposit

IC Markets’ clients can deposit funds into their trading accounts via bank transfers, debit/credit cards, and e-wallets such as Skrill, PayPal, and Neteller.

The table below shows the details of our deposits:

Payment MethodSubmitted DateFunded Account DateFunding TimeFee
Skrill11 March 2022 11 March 2022Instant€0.00
Monese10 March 202210 March 2022Instant€0.00
PayPal11 March 202211 March 2022Instant€0.00
Neteller11 March 202211 March 2022Instant €0.00

IC Markets does not charge fees on all deposit methods.

Withdrawal

IC Markets allows its clients to make withdrawals via the same payment methods available for deposits making it easy for investors to access their funds.

IC Markets does charge an AUD $20 fee on international bank transfer withdrawals.

Payment MethodSubmitted DateFunds Released DateFunds Arrived DateWithdrawal TimeFee
Credit card15 March 202216 March 202217 March 20222 working dayszero
Skrill12 March 202215 March 202215 March 20221 working dayzero
PayPal11 March 202211 March 202211 March 20223 hourszero
Neteller15 March 202216 March 202216 March 20221 working dayzero

We did not have any challenges during the withdrawal process, which was quite smooth.

Markets and Products

IC Markets offers a wide variety of tradable instruments in the Forex, indices, stocks, commodities and cryptocurrencies markets.

Here’s the complete list of IC Markets’ product offering:

MarketsInstruments
Forex61
Indices23
Stocks453
Commodities12
Cryptocurrencies10

The broker’s collection of stock CFDs is quite substantial. However, traders registered under IC Markets (EU) Ltd do not have access to cryptocurrencies.

Trading Conditions

The trading conditions at IC Markets are great. Traders can execute most trading strategies since the broker allows high-risk strategies such as hedging and scalping.

IC Markets also allows traders to use Expert Advisors (EAs). The broker notes on its website that majority of the trades executed by its clients are done via automated systems.

There are no time limits for how long traders can keep their hedging positions open.

Trading MethodAllowed
HedgingYes
ScalpingYes
Change LeverageYes

Leverage

IC Markets offers its clients different leverage levels based on the entity under which they registered their accounts.

Traders are also allowed to change their account’s leverage levels after registration.

The table below shows the different leverage levels available to clients:

MarketsInternational Capital Markets Pty LtdIC Markets (EU) LtdRaw Trading Ltd
Major Currency Pairs30:130:1500:1
Non-major Currency Pairs20:120:1500:1
Exotic Currency Pairs100:120:1100:1
Gold20:120:1500:1
Other Commodities (except gold)10:110:1500:1
Spot Energies100:110:1100:1
Futures100:110:1100:1
Bonds200:15:1200:1
Indices Majors20:120:1200:1
Indices Minors10:110:1100:1
Stocks Majors20:120:120:1
Stocks Minors10:120:120:1
Cryptocurrencies2:12:15:1
Shares or other assets5:15:120:1

Bonus

IC Markets does not offer bonuses to its clients.

Trading Platform

IC Markets offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms to its clients. Clients can access the two platforms via the desktop and mobile MT4 and MT5 applications. The broker also offers the cTrader platform as well as copy-trading systems attached to each platform.

IC Markets MT4

IC Markets cTrader Platform
IC Markets cTrader Platform

Algorithmic traders will find a home with IC Markets, which offers fast execution speeds and guarantees no requotes on submitted trades. The broker’s cTrader platform offers the cAlgo app that algorithmic traders can use. The cTrader Copy app allows for social copy trading.

Traders who prefer a modern platform should try the MT5 platform since the MT4 platform is a bit dated.

Research and Tools

IC Markets provides market research via the features found on the MetaTrader platforms. Clients have access to technical research from Trading Central.

The broker also has a market analysis section that contains technical and fundamental analyses from its in-house experts covering different instruments.

IC Markets has a distinct lack of in-depth video content, which could be a major drawback for traders who learn better via video lessons. The broker also does not provide any fundamental data to its clients; hence, they rely on other sources to catch the latest macro releases.

MetaTrader’s charting resources are okay, but the platform’s design and functionality are a bit outdated.

IC Markets Trading Central
IC Markets Trading Central

The broker also has a news feed section called Market Buzz, which delivers news from other websites, but can get crowded with persona tweets.

Education

IC Markets offers a great forex trading course for beginners that covers topics such as technical analysis and trading psychology. The broker provides over a dozen articles under each category.

IC Markets Demo Account

Traders can also open a demo account to practice trading on the broker’s platforms and test their trading strategies. The broker also provides tutorials on how to use its platform as well as general educational videos.

However, the videos are located in the broker’s video channel instead of on its website, which can be quite confusing.

IC Markets’ education offering lacks depth, and we would like to see the broker add more content on intermediate and advanced topics. We would also like to see the broker increase the amount of video content to match some of its competitors.

IC Markets Educational Material
IC Markets Webinars

Customer Service

IC Markets’ customer service team was quite helpful and gave us direct but sometimes inaccurate answers to our questions. Our first interaction with the team was via live chat, where we asked about the instruments we could trade via our MT5 account.

We received a prompt response, but the customer support agent seemed unsure about the answer. It took a while for the agent to confirm that we could trade the instruments we had asked about. The answer was not as instant as we had expected.

IC Markets Customer Support
IC Markets Customer Support Live Chat

You can reach the IC Markets customer support team via email and live chat. Our second query was via email where we wanted to know when our account would be approved.

The broker responded quite fast and asked us to submit the query via our registered email, which we had already done. They later apologised and quickly approved our account.

Again, we saw that the support agents were struggling with information that should be easy to find, but they always got it right in the end.

Here are the results of our test below:

QuestionResponse TimeQuality of reply
Live chatDoes MT5 account contain EURUSD, Gold, FTSE 100, Stocks and Crytocurrencies? We reached a support agent within 3 minutes.It was accurate in the end.
EmailWhen will our trading account be approved?We received feedback within 20 minutes. It was accurate in the end.

Conclusion

Overall, our experience with IC Markets was good. The forex broker provides relatively low spreads and breakneck execution speeds.

The broker offers a wide range of deposit and withdrawal methods that are instant and free. The broker’s customer support team was quite responsive and finally resolved our issues.

We also recommend IC Markets to all levels of traders from beginners, intermediate and advanced traders who can all benefit from its services.

We recommend IC Markets for traders who are

  • Beginners in trading
  • Experienced traders
  • Run Scalping
  • Use Hedging
  • Run Automated Trading Strategies

IC Markets might not be a fit if you are

  • Trading Futures or Real Stocks
  • Commission Based Stocks

Categories
Uncategorized

Best Forex Brokers Cameroon 2022

For this list, we have searched and tested several forex brokers Cameroon.

To be able to select the best brokers with the best offerings, we opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. Then we placed real trades in each popular market.

Afterwards, we reached out to the customer support team to find out whether they are able to solve the problems that customers normally face.

We handpicked the best forex brokers Cameroon based on our trading data and experience as a trader.

Is Forex Trading in Cameroon available?

The diversified economy of Cameroon features oil and gas as well as other products such timber or aluminum. Despite the recent fall in global prices for these resources they still account to nearly 40% of all exports from the country.

Cameroon has strict regulations on its national currency. The Central African Economic and Monetary Community or CEMAC, along with their oversight from the Bank of Central States (BEAC), fight money laundering which causes dire shortages in this region’s currencies.

The Bank of Central State’s website is www.beac.int.

Although the country has strict control on its currency, traders can still engage in forex trading with international brokers that accept clients from across all of Africa.

🏦Cameroon RegulatorBank of Central African (BEAC)
📊Max. LeverageNo Max. Leverage
🛡️Is It safe to tradeYes
🔒Negative Balance ProtectionNo Negative Balance Protection
💰Compensation SchemeNo Compensation Scheme

Best Forex Brokers in Cameroon

Finding a reliable forex broker Cameroon is not an easy task. Even though there are not many international brokers available, we recommend not to trade with offshore brokers due to the high risks involved.

Since most offshore and unregulated firms may target traders who do not have much information and good brokers in their jurisdictions, traders should check the broker before signing in.

There are several international brokers that accept traders from Cameroon. We recommend signing only with reliable firms as money safety in trading goes first. Also, it is essential and advisable to pay attention to the broker’s customer support, whether they provide assistance in the relevant languages.

To help you decide which broker is right for your needs, we have researched and tested many brokers. We opened real accounts with them to see what offerings they have.

Here are our top picks for forex brokers Cameroon:

  • HYCM – Best Broker for Cameroon Overall
  • FXTM – Best Forex Broker for Beginners in Cameroon
  • FBS – Best Forex Trading Platform Broker Cameroon
  • Trading 212 – Low Spread Best Forex Broker Cameroon

Best Broker for Cameroon Overall

We have picked HYCM as the best overall forex broker Cameroon.

HYCM is headquartered in the UK. It was founded in 1977. The broker is heavily regulated by FCA, ESMA, CySEC, DFSA, CIMA.

HYCM offers a great number of tradable instruments: forex, metals, energy products, commodities, indices and stocks. There are three main account types: Fixed, Classic and Raw Spread Accounts. HYCM fees vary according to the account type. 

According to our trades, HYCM conditions and offerings are excellent. HYCM spreads also depend on the account type: it uses either fixed spreads or, for Classic account types,  it offers floating spreads. The broker’s MT4 platform is very good, with the best tools and features. Besides, HYCM also offers the MT5 platform, so that the traders always have a choice.

Best Forex Broker for Beginners in Cameroon

We have picked FXTM as the best forex broker Cameroon for beginners.

Founded in 2001, FXTM is headquartered in Cyprus. The broker is strictly regulated in several jurisdictions: the United Kingdom, Cyprus, South Africa, and Mauritius.

FXTM offers a great number of tradable instruments:  forex pairs, indices, commodities, stocks, cryptocurrencies, spot metals, and also real stocks. The broker has several account types: Standard Account, Cent Account, and Stock CFDs Account. On standard and stock CFDs accounts spreads are slightly higher.

We have picked FXTM as the best forex trading platform for beginners as its education section is great. It offers seminars and workshops, eBooks/trading guides, webinars and forex industry glossary.

Best Forex Trading Platform Broker Cameroon

We have picked FBS as the best forex trading platform Cameroon.

FBS, founded in 2009, is a forex and CFDs broker with offices in Belize and Cyprus. The broker is regulated in Belize, Cyprus, and Australia. Its offerings include trading with forex, indices, commodities, and stocks, and cryptocurrency CFDs.

FBS fees are built into spreads. Its spreads are mostly lower than the industry average. As to the trading platforms, FBS offers several options: MetaTrader 4, MetaTrader 5, FBS Trader (mobile only). We have chosen FBS as the best trading platform for forex broker Cameroon because both its MT4 and MT5 trading platforms are good, with all the necessary tools and features. FBS also offers a forex trading demo account, which is a great asset, especially for beginner traders.

Low Spread Best Forex Broker Cameroon

We have picked Trading 212 as the best lowest spread forex broker Cameroon.

Trading 212 is a global Forex and CFD broker. It was founded in 2004. Being headquartered in London, it is regulated by FCA and FSC. Trading 212 offers a number of tradable instruments, such as Indices, Forex, Commodities, Stocks, Cryptocurrencies. 

We have picked Trading 212 as the best lowest spread forex broker Cameroon, as the broker offers stable low spreads.  The spreads for stock trades are generally much lower than the industry average.

Cameroon Forex Brokers List

Actually, most of the recommended forex brokers do not accept Cameroon clients. Traders should be very careful to choose a trustworthy forex broker Cameroon. Here is a short list of the brokers we were able to come up with based on our tests.

Forex BrokerTest DetailsBroker Review
RoboMarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
RoboMarkets Review
FXTMDeposit Amount: Over €6,000
Total Trade: 12 trades
FXTM Review
Trading 212Deposit Amount: Over €5,000
Total Trade: 15 trades
Trading 212 Review
FBS Deposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
Interactive BrokersInteractive Brokers website
AlpariAlpari website
ExnessExness website
HYCM HYCM Website

FAQ and More on Forex Brokers Cameroon

There are many essential questions that may interest the traders, when it comes to forex brokers Cameroon. With an attempt to be helpful, we picked and answered some of the most important queries related to forex brokers Cameroon.

How to Verify Cameroon Regulated Brokers?

As has already been mentioned, the Central African Economic and Monetary Community and Bank of Central States oversee the financial transactions in Cameroon.

Those traders who want to trade forex in Cameroon, are advised to conduct a good research and find a reliable and trustworthy broker that will meet their needs.

Before starting the trades it is essential to confirm that the broker is not an offshore broker and is strictly regulated. To find whether the broker is available in Cameroon, the traders can first check the information in its website for availability in the country.

Best Forex Trading App accept Cameroon Traders

Without an app that provides all the necessary tools it would be difficult to succeed in forex trades. Fortunately, many brokers offer great forex trading apps and clients always have a choice. 

We have selected several trading apps for Cameroon clients:

  • FXTM
  • FBS
  • RoboMarkets

Forex Brokers that Accept Mobile Money in Cameroon

Mobile money is the future of international finance and it is only a matter of time before you start to see more companies embracing this payment method. Forex brokers are no exception. They have also started accepting mobile payments from customers. 

We have selected two forex brokers Cameroon that accept mobile money:

  • FXTM
  • Exness
Categories
Uncategorized

FBS vs XM 2022

Is FBS better than XM? Who offers lower spread, better trading conditions, and is a safe broker to trade?

We provide answers to all questions in this FBS vs XM Comparison Review. For this Review, we opened real accounts and deposited over US$10,000 in total to compare both offerings, account opening process at FBS and XM also the fees, trading conditions, platform selection, and withdrawal process.   

FBS vs XM Compared

What is FBS and XM?

FBS is a Forex and CFD broker, operating in many countries across the globe. The broker offers trading services with Forex, indices, commodities, stocks, and cryptocurrency CFDs.

XM is a global Forex and CFD broker, subsidiary of Trading Point Holdings. The broker allows trading with Forex pairs, indices, commodities, and stocks. It offers a vast range of products compared to competitors.

Some of the highlights of FBS vs XM are:

FBSXM
💻 Websitewww.fbs.comwww.xm.com
🛡️Founded year20092009
🏦 HeadquarterBelize, CyprusLimassol, Cyprus
🗺️ Authorized & Regulated inAustralia, Cyprus, BelizeUK, Cyprus, Australia, UAE, Belize
🔒 Is Broker safeYesYes
💰 EUR/USD Spread1.131.6
💳 Minimum deposit$10US$5
💰 Withdrawal feeUS$0 (with exceptions)US$0
🖥️ Trading PlatformMT4, MT5, FBS TraderMT4, MT5
📈 Markets offeredIndices, Forex, Commodities, Stocks, Cryptocurrencies,Forex, Indices, Stocks, Commodities
📉 Number of Products107 (depends on jurisdiction)1336
🔎 Our Detailed ReviewFBS ReviewXM Review

Licenses and Regulation

The review of FBS vs XM demonstrates that both brokers are safe to trade from a regulatory standpoint. The brokers are guaranteed a compensation scheme by the CySEC-regulated entity to protect their funds.

FBS is licensed by 3 regulators in Cyprus, Belize, and Australia.

XM is licensed by 5 regulators worldwide, including the top-tier UK’s FCA, ASIC, Dubai’s DFSA, Cyprus’ CySEC, and Belize’s FSC. However, the UK’s FCA only regulates trading.com, not the XM brand, despite being operated by the same group.

For our tests, we opened a CySEC-regulated Standard account on the FBS MT5 platform with Tradestone Ltd and XM Trading Point of Financial Instruments Limited, regulated by CySEC. Read more about CySEC.

We recommend that you register your FBS account with the FBS Trader and the CySEC entity and XM account with CySEC entity if they are available in your jurisdiction.

 FBSXM 
🔒 LicensesASIC,
CySEC,
IFCS
ASIC,
CySEC,
DFSA
FCA,
FSC
Top Tier License✔️✔️
Publically Traded❌❌
Compensation Scheme✔️ (depending on the entity)✔️ (depending on the entity)

FBS vs XM Fees

FBS and XM fees are similar and mostly built into spreads, however, FBS charges commission on trades with some asset class and account tiers, and XM has commission-based accounts as well.

FBS does not charge deposit and withdrawal fees from traders under CySEC enity, however, Belize and Australia do charge some withdrawal fees. FBS does not charge account maintenance or inactivity fees.

XM does not charge any additional fee, moreover, the broker charges average fees for trading the main instruments and the fees charged on stocks and commodities are lower than industry averages.

 FBS Fees XM Fees
Fees based on the spread✔️✔️
Floating Spread✔️✔️
Fixed Spread✔️ ❌
Commission-based fees✔️ ✔️
Inactivity Fee$0$0
Deposit fee$0$0
Withdrawal feedepends on the payment method $0
Active trader/ VIP Programs✔️ ✔️

Spreads Charged in Our Trades

To test trades on FBS vs XM accounts, we chose popular instruments in each market. We placed 3 trades for each instrument to get the average spread, we found both negative and positive sides for each Broker spreads. FBS may not be suitable for commodities trader, as the spreads are much higher than the industry average.

Our testing shows that FBS spreads on Forex, indices, and stock CFDs are much lower than the industries average. Spreads on commodities, on the other hand, are much higher

A closer look at the spreads charged in our XM trades revealed that they were all aligned with industry benchmarks. None of XM’s average spreads were above industry averages. Moreover, the broker’s spreads on stocks and commodities were slightly lower than those of its peers.

MarketsInstrumentsFBS Avg. spreadXM Avg. spreadIndustry avg. spread
IndicesFTSE 1001.351.51.65
ForexEUR/USD1.131.61.16
CommoditiesGold4.63.53.53
StocksAAPL11.351.75

Account Types Compared

FBS offers several accounts varying with the entity, while XM offers 5 accounts types with various fee structures, for example, the Micro, Standard, XM Zero, XM Ultra-low, and SHare accounts.

Opening a new account on FBS was very simple and easy, the registration process took merely 10 minutes. Our account was verified in 7 business days.

XM account opening process was smooth and effortless, the registration process took just 15 minutes. the account was approved the next day, which was satisfying.

 FBS AccountsXM Accounts
Standard Account✔️✔️
ECN / Commission Based Account✔️ ❌
Islamic Account✔️✔️
PAMM Account❌✔️

Markets and Products

FBS offers CFDs trading services with forex, indices, stocks, and commodities instruments. Only the Australian entity offers cryptocurrency CFDs trading. XM, in its turn, offers trading multiple tradable instruments in the Forex, indices, stocks, and commodities markets. XM offer a wider range of instruments than FBS and is especially suitable for Stocks traders, given that they offer more than 1000 instruments.

MarketsFBS InstrumentsXM Instruments
Indices1126
Forex4357
Commodities917
Stocks391236
Cryptocurrency5

Trading Conditions

Both brokers allow hedging and scalping strategies but retail FBS traders cannot change leverage levels, XM allows traders to use Expert Advisors (EAs).

Trading MethodFBSXM
Hedging✔️ ✔️
Scalping✔️ ✔️
Change Leverage❌ (only professional traders can change leverage levels) ✔️
Copy trading/ Social trading✔️✔️
Beginners Trading✔️✔️
Professional Trading✔️✔️

Deposit and Withdrawal

Both deposit and withdrawal processes on FBS and XM were smooth, to process withdrawal requests, FBS requires the submission of a verification code, which the broker sends to the registered email, also, for some payment methods it requires a transaction fee when withdrawing without trading. XM, in its turn, does not charge any withdrawal fee.

We tested the deposit and withdrawal processes on FBS using a credit card, Neteller, and Skrill.

The deposit methods offered by XM are instant and free. Anyway, the first deposit has to be made via credit card.

FBSXM
💰 Deposit Fee❌❌
💰 Withdrawal feeUS$0 (with exceptions)❌
💳 Minimum depositUS$10US$5
Bank Transfer✔️✔️
Debit/ Credit Cards✔️✔️
PayPal✔️✔️
Skrill✔️✔️

Trading Platform

Both brokers offer to trade with MetaTrader4 and MetaTrader5 trading platforms, besides, FBS offers its proprietary platform – FBS Trader.

We executed all our FBS trades on MetaTrader5 trading platform.

We think that the XM MT4 platform is a bit outdated, and find the MT5 platform more adequate and suitable for traders preferring modern platform.

FBS PlatformXM Platform
Proprietary Platform✔️❌
Web Platform✔️✔️
Desktop Platform✔️ ✔️
Mobile App✔️✔️
Alternative Platforms✔️ ✔️
MetaTrader4✔️ ✔️
Simple to use platform✔️✔️
Demo Account Trading✔️✔️
Execution Agency Model❌❌
Research✔️✔️
Advanced Research tools✔️ ✔️

Education and Support

FBS offers extensive educational resources with detailed courses on trading, guides, webinars, etc. XM offers excellent learning courses under its Tradepedia educational platform that provides in-depth guides to the market. FBS and XM both offer excellent customer support with Live Chat and support inquiries.

FBS offers detailed courses on trading, guides on platform, vidoe guides, webinars, and glossaries.

XM runs over 40 webinars weekly in different languages that its clients can join and learn about the markets. The webinars are based on experience level and take place in different timezones to suit its clients.

FBS SupportXM Support
Trading School for Beginners❌ ✔️
Tutorials✔️✔️
Trading Videos✔️ ❌
Webinars✔️✔️
Daily News and Analysis✔️✔️
Economic Calendar✔️✔️
Live Chat✔️✔️
Email Support✔️✔️
24/7 availability✔️ ❌

Conclusion on FBS vs XM

From our detailed comparison review of FBS and XM, we may come to the point that both brokers are safe and completely reliable.

Both FBS and XM trading costs are based on spreads and both have some commission-based fees. XM offers a wider range of instruments for traders and spreads in all markets are mostly similar to those of the industry average, spreads on stocks and commodities are even lower. FBS offers traders its exceptional trading platform FBS trader.

Our overall experience with FBS was positive. The spreads charges on forex, stocks, and indices were much lower than the industry average. FBS allows scalping and hedging, but leverage change is not allowed to retail traders. The broker doesn’t charge any deposit fee, however, it has some withdrawal fees depending on the payment method. We recommend to use a credit card for deposit and withdrawal processes.

Overall, our experience with XM was smooth and quick. We did not face any issue with account opening, deposit, withdrawal, and trading processes. We recommend XM to traders who prefer using MT4/MT5 platforms for trading and to those who run EAs due to the free VPS services.

FBSXM
Recommended for✔️ Experienced Traders
✔️ Beginning Traders
✔️ Scalping trader
✔️ Hedging Trader
✔️ EAs Trading
✔️ Trading through MT4/MT5

✔️ CFD Stocks trading
✔️ Beginning Traders
✔️ Experienced traders
✔️ Trading Currency Pairs
✔️ EAs trading
✔️ Scalping trader
✔️ Hedging trader
✔️ Trading through MT4 / MT5
Might not be fit for❌Real stock / Futures Trading
❌ Commission-based trading
❌ Commission-based trading
❌ Real Stock / Futures Trading

Categories
Uncategorized

Plus500 vs XTB

Is Plus500 better than XTB? Who offers lower spread, better trading conditions and is safer broker to trade?

We provide answers to all questions in this Plus500 vs XTB Comparison Review. For this Review we opened real accounts and deposit over US$ 6,000 in total to compare both offerings, account opening process at Plus500 and XTB also the fees, trading conditions, platform selection and withdrawal process.   

Plus500-vs-XTB-logos

What is Plus500 and XTB

Plus500 is a large and popular CFD broker with a good number of instruments for retail and professional traders.

XTB is a global Forex and CFD broker. The broker carries several licenses, and the spreads on currency pairs are quite low; the broker also allows scalping.

Some of the highlights of Plus500 vs XTB are:

Plus500XTB
💻 Websitewww.plus500.comwww.xtb.com
🛡️Founded year20082002
🏦 HeadquarterIsraelLondon and Warsaw
🗺️ Authorized & Regulated inUK, Cyprus, Australia, South Africa, Seychelles, SingaporeUK, Cyprus, Poland, Spain, Belize
🔒 Is Broker safeYesYes
💰 EUR/USD Spread0.80.9
💳 Minimum depositUS$100US$250
💰 Withdrawal feeUS$0US$0
🖥️ Trading PlatformPlus500’s proprietary trading platformMT4, xStation 5, xStation Mobile
📈 Markets offeredForex, Stocks, Indices, Commodities, Cryptocurrencies, ETFs, OptionsForex, Indices, Stocks, Commodities, ETFs, Cryptocurrencies
📉 Number of Products24002111
🔎 Our Detailed ReviewPlus500 ReviewXTB Review

Licenses and Regulation

Compared to Plus500 vs XTB, both brokers are safe to trade and are highly reliable, low-risk trading brokers due to regulations and are not a scam.

Plus500 holds 6 regulatory licenses from several top regulators, like the United Kingdom’s FCA, Singapore’s MAS, and Australia’s ASIC.

XTB is licensed by 5 regulators globally including the top-tier UK’s FCA, the CySEC, Poland’s KNF, Spain’s CNMV & Belize’s FSC.

For this review, we opened an account with Plus500AU Pty Ltd ASIC regulated broker in Australia, and with XTB Ltd, regulated by CySEC.

We recommend you to register your account with the United Kingdom or Australian or Singapore entity of Plus500 and XTB UK, Cyprus, Poland and Spain entities if they’re available to you, since they all offer deposit protection.

 Plus500XTB 
🔒 LicensesASIC,
CySEC,
ISA,
IE Singapore,
FSCA,
FCA,
FSA
FCA,
CySEC,
KNF,
CNMV,
FSC
Top Tier License✔️✔️
Publically Traded✔️✔️
Compensation Scheme✔️ (depending on entity)✔️ (depending on entity)

Plus500 vs XTB Fees

Plus500 and XTB fees are similar and mainly built into a spread basis. In the case of Plus500, there are no commission based accounts. XTB offers very low spreads on commodities and stocks. Yet, it charges a EUR 6.6 commission on Stocks.

Plus500 does not charge any deposit or withdrawal fee but charges a monthly fee after 3 months of inactivity.

XBT like Plus500 does not charge any deposit or withdrawal fee, yet there is a major drawback as XTB processes client withdrawals via bank transfers only.

  Plus500 Fees XTB Fees
Fees based on spread✔️✔️
Floating Spread✔️✔️
Fixed Spread❌❌
Commission based fees❌✔️
Inactivity Fee$10$0
Deposit fee$0$0
Withdrawal fee$0$0
Active trader/ VIP Programs❌❌

Spreads Charged in Our Trades

For our test trades on Plus500 vs XTB accounts, we chose popular instruments in each market. We placed 3 trades for each instrument to get the average spread, we found both negative and positive sides for each Broker spreads.

Our testing finds Plus500 spreads for Forex, ETFs, and Cryptocurrencies much lower than the industry average. Spreads on Indices, Commodities, and Stocks are on the higher side.

Our testing finds the spread on Forex pairs to be quite low, but the spreads on commodities, stocks, indices and cryptocurrencies are in-line with industry averages or higher.

MarketsInstrumentsPlus500 commissionXTB commissionIndustry avg. spread
IndicesFTSE 10021.801.65
ForexEUR/USD0.80.831.16
CommoditiesGold40.443.53
StocksAAPL1.931.001.75
CryptocurrenciesBitcoin49.02189.5572.81
ETFsQQQ0.17N/A0.45

Account Types Compared

Plus500 offers a single account type to traders. XTB offers 2 account types, that is, the Standard, and PRO accounts. XTB also offers a forex swap-free account.

Opening a new account on Plus500 for our test was smooth, the registration process took merely 16 minutes.

XTB account opening was fast and smooth. The registration process took only 13 minutes and our account was approved on the same day, which was impressive!

 Plus500 AccountsXTB Accounts
Standard Account✔️✔️
ECN / Commission Based Account❌❌
Islamic Account❌❌
PAMM Account❌ ✔️

Markets and Products

Compared to XTB, the instrument selection across a few markets at Plus500 are lower, besides Forex and Options, however, all are traded as CFDs. At XTB you can trade CFDs on forex pairs, stock indices, stocks, commodities, ETFs, and cryptocurrencies.

MarketsPlus500 InstrumentsXTB Instruments
Indices2942
Forex7157
Commodities2223
Stocks17371849
Cryptocurrency1425
ETFs94119
Options433

Trading Conditions

Plus500 does not allow hedging or scalping. It does not even allow traders to change leverage levels. The broker is not the best for beginners due to a lack of proper education. On the other hand, the trading conditions at XTB are good. The broker allows high-risk strategies such as hedging and scalping. XTB also allows the use of Expert Advisors (EAs).

Trading MethodPlus500XTB
Hedging❌✔️
Scalping❌✔️
Change Leverage❌❌
Copy trading/ Social trading❌❌
Beginners Trading❌✔️
Professional Trading✔️✔️

Deposit and Withdrawal

Both deposit and withdrawal processes on Plus500 and XTB are simple enough, supporting various funding methods. Both brokers have minimum deposit amounts of $100 and $250 respectively.

We tested deposit by Debit Card on Plus500 and there was no deposit fee and the findings were instant.

We tested deposit by Debit Card on XTB. All the deposit methods offered by XTB were instant and free.

Plus500XTB
💰 Deposit Fee❌❌
💰 Withdrawal fee❌ ❌
💳 Minimum depositUS$100US$250
Bank Transfer✔️✔️
Debit/ Credit Cards✔️✔️
PayPal✔️✔️
Skrill✔️✔️

Trading Platform

Plus500 offers its own trading platform and does not offer any other alternative. While XTB offers the MetaTrader4 (MT4) platform, which is a popular platform and suggests many advantages.

Plus500’s platform is user-friendly and good for CFD trading, but cannot be customized.

The trading conditions at XTB are good, but at the moment it does not offer social trading.

Plus500 PlatformXTB Platform
Proprietary Platform✔️✔️
Web Platform✔️✔️
Desktop Platform❌✔️
Mobile App✔️✔️
Alternative Platforms❌✔️
MetaTrader4❌✔️
Simple to use platform✔️✔️
Demo Account Trading✔️✔️
Execution Agency Model❌❌
Research✔️✔️
Advanced Research tools❌✔️

Education and Support

Plus500 offers only a few basic videos to educate novice traders and provides demo trading accounts. Whereas XTB offers a wide variety of educational materials. Plus500 vs XTB both offer decent customer support with Live Chat and Support Inquiries.

Plus500 does not offer high-quality education resources.

XTB educational materials are grouped according to a trader’s experience and based on various subjects, which we found to be very helpful.

Plus500 SupportXTB Support
Trading School for Beginners❌ ✔️
Tutorials❌✔️
Trading Videos✔️✔️
Webinars❌✔️
Daily News and Analysis❌✔️
Economic Calendar✔️✔️
Live Chat✔️✔️
Email Support✔️✔️
24/7 availability❌❌

Conclusion on Plus500 vs XTB

Comparing Plus500 to XTB side by side we found both brokers reliable and with good standing. The proposals are different with Plus500 as a CFD Trading Broker, made for professional trading, and with XTB carrying several licenses and the spreads on currency pairs are quite low; the broker also allows scalping and hedging.

Our trading experience on Plus500 was mixed. On the positive side, the broker holds six regulatory licenses. It is also listed on London Stock Exchange and is a constituent of the FTSE 250 Index. It offers a huge list of CFD instruments across several markets with attractive spreads on forex pairs and other instruments.

Our experience with XTB was smooth from opening account, to deposit, trading and withdrawal. XTB is good for experienced traders and beginners, it also allows the use of Expert Advisors and offers popular trading platforms, such as MetaTrader4 (MT4).

Plus500XTB
Recommended for✔️ CFD Trading
✔️ Experienced traders
✔️ EA trader
✔️ Scalping trader
✔️ Trading Currency pairs and Stocks
✔️ Beginning Traders
✔️ Experienced traders
Might not be fit for❌ Beginning Trader
❌ Scalping trader
❌ Hedging trader
❌ EA trader
❌ Trading through MT4/MT5 platform
❌ Commission based trading
❌ Trading on Stocks with small contacts
❌ Commission based trading

Categories
Uncategorized

eToro vs XM 2022

Is eToro better than XM? Who offers lower spread, better trading conditions, and is a safe broker to trade?

We provide answers to all questions in this eToro vs XM Comparison Review. For this Review, we opened real accounts and deposit over US$ 11,000 in total to compare both offerings, account opening process at eToro and XM also the fees, trading conditions, platform selection, and withdrawal process.   

eToro vs XM Compared

What is eToro and XM?

eToro is one of the largest, Best Social trading Brokers and platform with a good range of portfolios and Top number of investors.

XM is a global Forex and CFD broker, subsidiary of Trading Point Holdings. The broker allows trading with Forex pairs, indices, commodities, and stocks. It offers a vast range of products compared to competitors.

Some of the highlights of eToro vs XM are:

eToroXM
💻 Websitewww.etoro.comwww.xm.com
🛡️Founded year20062009
🏦 HeadquarterIsraelLimassol, Cyprus
🗺️ Authorized & Regulated inUSA, UK, Australia, CyprusUK, Cyprus, Australia, UAE, Belize
🔒 Is Broker safeYesYes
💰 EUR/USD Spread0.971.6
💳 Minimum depositUS$50 or US$500US$5
💰 Withdrawal feeUS$5US$0
🖥️ Trading PlatformeToro’s own trading platformMT4, MT5
📈 Markets offeredIndices, Forex, Commodities, Stocks, Cryptocurrencies, ETFsForex, Indices, Stocks, Commodities
📉 Number of Products9861336
🔎 Our Detailed RevieweToro ReviewXM Review

Licenses and Regulation

The review of eToro vs XM demonstrates that both brokers are safe to trade and are not a scam. The brokers are regulated by strict rules and enforcement mechanisms. Moreover, the CySEC entity they are both regulated by guarantees compensation if the broker becomes insolvent.

eToro is licensed by some of the top global regulators, including the UK’s FCA, CySEC, ASIC, and FinCEN.

XM is licensed by 5 regulators worldwide, including the top-tier UK’s FCA, ASIC, Dubai’s DFSA, Cyprus’ CySEC, and Belize’s FSC. However, the UK’s FCA only regulates trading.com, not the XM brand, despite being operated by the same group.

For this review, we opened an account under eToro (Europe) Limited regulated by CySEC and with XM Trading Point of Financial Instruments Limited, regulated by CySEC. Check out more about CySEC.

We recommend that you register your eToro account with the eToro UK and CySEC entity and XM account with CySEC entity if they are available in your jurisdiction.

 eToroXM 
🔒 LicensesASIC,
CySEC,
IE Singapore,
FCA,
NFA
ASIC,
CySEC,
DFSA
FCA,
FSC
Top Tier License✔️✔️
Publically Traded❌❌
Compensation Scheme✔️ (depending on the entity)✔️ (depending on the entity)

eToro vs XM Fees

eToro and XM fees are similar and mainly built into a spread basis, however, XM has commission-based accounts as well.

There are additional fees charged by eToro. It charges a few non-trading fees, The broker charges a $10 monthly fee after a year for inactive accounts. Though deposit and account maintenance are free on eToro, it charges $5 for each withdrawal.

XM does not charge any additional fee, moreover, the broker charges average fees for trading the main instruments and the fees charged on stocks and commodities are lower than industry averages.

 eToro Fees XM Fees
Fees based on the spread✔️✔️
Floating Spread✔️✔️
Fixed Spread❌❌
Commission-based fees❌✔️
Inactivity Fee$10$0
Deposit fee$0$0
Withdrawal fee$5$0
Active trader/ VIP Programs✔️ ✔️

Spreads Charged in Our Trades

For our test trades on eToro vs XM accounts, we chose popular instruments in each market. We placed 3 trades for each instrument to get the average spread, we found both negative and positive sides for each Broker spreads. eToro may not be suitable for commodities and stocks traders, since the spreads are above the industry average.

eToro spreads for Indices and Forex are below the industry average. For commodities and stock CFDs, spreads are above the industry average. Cryptocurrencies in the trades are more than double the industry average.

A closer look at the spreads charged in our XM trades revealed that they were all aligned with industry benchmarks. None of XM’s average spreads were above industry averages. Moreover, the broker’s spreads on stocks and commodities were slightly lower than those of its peers.

MarketsInstrumentseToro Avg. spreadXM Avg. spreadIndustry avg. spread
IndicesFTSE 1001.41.51.65
ForexEUR/USD0.971.61.16
CommoditiesGold4.53.53.53
StocksAAPL2.231.351.75
CryptocurrenciesBitcoin102.7172.81
ETFsQQQ0.530.45

Account Types Compared

eToro offers a single account with access to all tools and services from one account, while XM offers 5 accounts types with various fee structures, for example, the Micro, Standard, XM Zero, XM Ultra-low, and SHare accounts.

Opening a new account on eToro was very simple and easy, the registration process took merely 11 minutes.

XM account opening process was smooth and effortless, the registration process took just 15 minutes. the account was approved the next day, which was satisfying.

 eToro AccountsXM Accounts
Standard Account✔️✔️
ECN / Commission Based Account❌❌
Islamic Account✔️✔️
PAMM Account❌✔️

Markets and Products

eToro is primarily a Forex and CFD broker, on top of that it offers trading services with real Stocks, ETFs, and Cryptocurrencies. XM, in its turn, offers trading multiple tradable instruments in the Forex, indices, stocks, and commodities markets. XM is better for stocks traders, as it offers a wider range of instruments than eToro. However, it doesn’t offer cryptocurrency and ETF trading.

MarketseToro InstrumentsXM Instruments
Indices1326
Forex4957
Commodities3117
Stocks7261236
Cryptocurrency16
ETFs151
Options –

Trading Conditions

Trading conditions on eToro are fair and suitable for beginning traders, however, it does not allow scalping, while XM allows high-risk strategies such as hedging and scalping, it also allows traders to use Expert Advisors (EAs).

Trading MethodeToroXM
Hedging✔️ (eToro will retain the profits)✔️
Scalping❌✔️
Change Leverage✔️✔️
Copy trading/ Social trading✔️✔️
Beginners Trading✔️✔️
Professional Trading✔️✔️

Deposit and Withdrawal

Both deposit and withdrawal processes on eToro and XM are simple enough, supporting various funding methods. eToro charges a flat fee of $5 for every withdrawal, XM, on the other hand, does not charge any withdrawal fee.

We tested the deposit process on eToro using multiple payment modes and the deposits were received instantly.

The deposit methods offered by XM are instant and free. Anyway, the first deposit has to be made via credit card.

eToroXM
💰 Deposit Fee❌❌
💰 Withdrawal fee5$❌
💳 Minimum depositUS$50 or US$500US$5
Bank Transfer✔️✔️
Debit/ Credit Cards✔️✔️
PayPal✔️✔️
Skrill✔️✔️

Trading Platform

eToro uses its trading platform and does not offer other alternatives, it looks modern and is easy to use. XM offers popular MetaTrader4 and MetaTrader5 platforms to its clients and does not have a proprietary platform.

eToro is known for its social trading feature. In fact, it gained popularity because of this. It basically has two features: CopyTrader and CopyPortfolio.

We think that the XM MT4 platform is a bit outdated, and find the MT5 platform more adequate and suitable for traders preferring modern platform.

eToro PlatformXM Platform
Proprietary Platform✔️❌
Web Platform✔️✔️
Desktop Platform❌✔️
Mobile App✔️✔️
Alternative Platforms❌✔️
MetaTrader4❌✔️
Simple to use platform✔️✔️
Demo Account Trading✔️✔️
Execution Agency Model❌❌
Research✔️✔️
Advanced Research tools❌✔️

Education and Support

eToro does not offer high-quality education resources, while XM offers excellent learning courses under its Tradepedia educational platform that provides in-depth guides to the market. eToro and XM both offer decent customer support with Live Chat and support inquiries. To explore more educational materials, we might recommend XM, as it’s rich with in-depth articles, guides, and courses on trading.

We found that eToro is developing its learning materials for beginners and has established eToro Trading School.

XM runs over 40 webinars weekly in different languages that its clients can join and learn about the markets. The webinars are based on experience level and take place in different timezones to suit its clients.

eToro SupportXM Support
Trading School for Beginners✔️✔️
Tutorials✔️✔️
Trading Videos❌❌
Webinars✔️✔️
Daily News and Analysis✔️✔️
Economic Calendar✔️✔️
Live Chat✔️✔️
Email Support✔️✔️
24/7 availability❌❌

Conclusion on eToro vs XM

From our detailed comparison review of eToro vs XM, we may come to the point that both brokers are safe and completely reliable. They both offer a vast range of instruments and are easy to use.

Both eToro and XM trading costs are based on spreads, however, XM does have a separate commission-based fee account. All XM spreads are aligned with those of the industry average and is better for stocks traders since it offers a wide range of stock trading instruments.

Our trading experience on the eToro platform was smooth. eToro is good for beginners and experienced/popular traders, it has some attractive features like social trading and is best for the number of Top Traders.

Overall, our experience with XM was smooth and quick. We did not face any issue with account opening, deposit, withdrawal, and trading processes. We recommend XM to traders who prefer using MT4/MT5 platforms for trading and to those who run EAs due to the free VPS services.

eToroXM
Recommended for✔️ Best for Social Trading
✔️ Beginning Traders
✔️ Trading Currency Pairs
✔️ Cryptocurrency Trading
✔️ Stocks Trading

✔️ CFD Stocks trading
✔️ Beginning Traders
✔️ Experienced traders
✔️ Trading Currency Pairs
✔️ EAs trading
✔️ Scalping trader
✔️ Hedging trader
✔️ Trading through MT4 / MT5
Might not be fit for❌ Scalping trader
❌ Hedging trader
❌ EA trader
❌ Trading through MT4/MT5 platform only
❌ Commission-based trading
❌ Commission-based trading
❌ Real Stock / Futures Trading

Categories
Uncategorized

Best Forex Pair to Trade 2022

For this list, we have searched and tested several brokers for best forex pairs to trade.

To select the best forex pair to trade brokers we opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. Further, we placed real trades in each popular market to get the actual picture.

Also, we tested the work and dedication of the customer support team. We reached out to them to see how they solved the problems we had faced.

We handpicked the best forex pair to trade brokers based on our trading data and experience as a trader.

Best Currency Pair for Forex Trading

If you are new to the world of Forex trading, then finding the best forex pair to trade can be difficult at times. Traders often wonder which currency pairs are the best ones to trade. 

Actually, there is no such thing as the best currency pair. Of course, there are more popular ones such as EUR/USD GBP/USD etc. Mostly it depends on the trading strategy which currency is the best particularly for your trades. Some pairs are less volatile and are safer to trade, some have larger volume so it suits the trading strategy.

Actually, the time of the trading also determines which currency pairs are more favorable at that moment. Another key factor is liquidity. Traders are always prone to trade currency pairs that are generally bought and sold more easily.  Lastly, predictability is another factor that traders pay attention to. The great amount of data on certain currency pairs helps the traders to predict how the currencies will perform.

Best Time to Day trade the EUR/USD Forex Pair

Generally, the best time to day trade the EUR/USD forex pair is when the market is open in the US and Europe. As, due to time differences, the US starts late, the beginning of the US market until the closing of the Europe market is considered the best time. This is because the market is the most  volatile at that period. However, everything depends on the trading strategy. Sometimes the most volatile time is not essential, and the  quietest time might even suit the best.

Best Forex Currency Pair for Scalping

Scalping is a forex technique when traders open and close positions in markets in a really short span of time to profit from the trade. In trading, scalping is the shortest time span when traders benefit from the small changes in currency prices.

One of the most important factors to consider in scalping is which markets you want to trade and at what time. However, the major currency pairs, such as EUR/USD or USD/JPY will almost always have higher volumes than other less-liquid pairs.

Best Forex Brokers for Forex Pair Trading

To come up with the list of the best forex pairs to trade brokers we have concentrated on a number of factors, such as strict regulation and high rankings. In our list are those best forex pair to trade brokers that stood out during our testing.

Some of the best forex pair to trade brokers are:

  • Roboforex
  • IG
  • Pepperstone
  • XTB
  • FxPro
  • Admiral Markets

Best Overall Forex Currency Pair Broker

Taking into consideration all options and range of currency pairs we select IG as the best Currency Pair to trade Broker:

Founded in 1974, IG is headquartered in London, UK. The broker is strictly regulated and holds a number of licenses: FCA, ASIC, CFTC, DFSA.

Its trading conditions are excellent. IG offers considerably low costs for Forex. It enables its clients to trade a variety of instruments: forex, indices, stocks, commodities, and cryptocurrencies. IG offers low spreads for forex pairs.

The broker offers easy to use platforms and offers various market research and analysis tools. IG’s customer support is also great. It is available in several languages, which makes the broker accessible for traders worldwide. 

Best Forex Pair to trade in London Session

The best time to trade forex is during the London session. During this session the liquidity is great, spreads are commonly low and the opportunities are countless. However, to be able to benefit, it is important to choose the right currency pairs to trade. Otherwise, you will simply fail the trades. In fact, traders should not underestimate the importance of the right choice of forex pairs.

In fact, the best in the London sessions are currency pairs involving GBP.  At the start of the London session, the most favorable pairs to trade are commonly GBP and EUR pairs, such as  GBP/USD, GBP/CHF, EUR/USD, etc.  However, when the New York markets open, which coincides with the last few hours of the London session, USD pairs become a good option, too. 

Based on our tests, we have chosen several UK brokers for forex pair trading:

  • IG
  • Interactive Brokers
  • XTB

Best Forex Pair to Trade in Asian Session

The best in Asian sessions are currency pairs involving currencies from Hong Kong, China, Japan, Singapore, Malaysia, etc, since the market  is open and most volatile in this period.

The Asian session is known for its low volume and higher spreads. This is why it is very important to be careful at picking the currency pairs. During the session the most favorable pairs are those including JPY or AUD. Due to the fact that the European and US firms are closed, it is advisable to avoid USD, EUR and GBP pairs, or might be practically for low volatility strategies. 

Based on our tests, we have chosen several brokers that are most suitable for the Asian session:

  • Pepperstone
  • CMC Markets

Best Forex Pair for Trading in Australia

During the Australian session the currency pairs have different activity levels and volatility. The best forex pair to trade in the Australia session are AUD/NZD, USD/CHF, AUD/JPY, GBP/USD, EUR/USD, and USD/JPY.

The GBP/USD and EUR/USD pairs are active when New York and London sessions overlap.

Based on our tests, the best brokers suitable for Australian session are:

  • Admiral Markets
  • CMC Markets
  • Pepperstone

Forex Pair Trading Brokers List

Here is a list of the forex pair trading brokers list that we have tested and reviewed.

Forex BrokerTest DetailsBroker Review
FxPro
Deposit Amount: Over €5,000
Total Trade: 15 trades
FxPro Review
FBSDeposit Amount: Over €5,000
Total Trade: 12 trades
FBS Review
AvaTradeDeposit Amount: Over €4,000
Total Trade: 12 trades
AvaTrade Review
PepperstoneDeposit Amount: Over €4,500
Total Trade: 12 trades
Pepperstone Review
DukascopyDeposit Amount: Over €5,000
Total Trade: 12 trades
Dukascopy Review
XTBDeposit Amount: Over €5,000
Total Trade: 12 trades
XTB Review
Admiral MarketsDeposit Amount: Over €4,000
Total Trade: 12 trades
Admiral Markets Review
CMC MarketsDeposit Amount: Over €5,000
Total Trade: 12 trades
CMC Markets Review
AxiTraderDeposit Amount: Over €6,000
Total Trade: 12 trades
AxiTrader Review

FAQ and More on Forex Pair Trading

Traders usually have many questions related to generic trading-related queries. In an attempt to be helpful, we picked and answered some of the most important queries related to the currency pairs for forex trading.

Best Forex Pairs for Intraday Trading

Intraday trading is a type of stock trading where the trader buys and sells shares within the same day. This type of trading requires careful planning and execution, as well as knowledge of the market and timing.

If the traders want to trade intraday, they should specify on the trading platforms, whether the order is suitable for intraday trading. Besides, the position should be closed during the trading hours of the day. Based on our tests, the EUR/USD and GBP/USD are the most suitable intraday pairs.

Best Forex Pairs for Trend Trading

Some pairs are better suited for trend trading than others, since the trend itself is more readable and may last longer in the time frime, since involving major Currency Pairs and work economies likewise. So, there are certain currency pairs that tend to fare better than others. 

USD is the most commonly traded currency in the world, and therefore most major forex pairs include USD. Combined with other currencies, especially from the biggest economies, such as China, Japan and the UK, they perhaps make the best forex pairs for trend trading.

Best Forex Pair for Day Trading

Forex day trading is a form of speculating on currency prices. Traders buy and sell currencies during the course of a day with the hope that they will make a profit off the price movements.

The traders that prefer day trading, commonly choose forex pairs to trade with the lowest spreads. Normally, the EUR/USD and GBP/USD pairs are the most favorable for day trading. These pairs are also suitable for longer-term moves.

Best Forex Pair for Swing trading

Swing trading is a type of day trading where you hold onto a security or stock for a period of time, expecting it to move in your desired direction. Many traders find swing trading easier to manage because they don’t have to check the markets as frequently as they would if they were doing day trading. Because the time frame is longer, there is more opportunity for the stock to reach your desired price target.

Based on our tests, we found the forex pairs listed below the most suitable for swing trading:

  • EUR/USD
  • NZD/USD
  • EUR/JPY
  • USD/CAD
Categories
Uncategorized

Capital.com vs eToro

Is Capital.com better than eToro? Who offers lower spreads, better trading conditions, and is a safe broker to trade?

We provide answers to all questions in this Capital.com vs eToro Comparison Review. For this Review, we opened real accounts and deposited over US $9,500 in total to compare both offerings, account opening process at Capital.com and eToro also the fees, trading conditions, platform selection, and withdrawal process.   

Capita.com vs eToro Compared

What are Capital.com and eToro?

Capital.com is a forex and contracts for differences (CFDs) broker which offers trading services with forex, indices, commodities, cryptocurrencies, stock CFDs, as well as spread betting in the UK and Ireland.

eToro is one of the largest, Best Social trading Brokers and a platform with a good range of portfolios and the Top number of investors.

Some of the highlights of Capital.com vs eToro are:

Capital.com eToro
💻 Websitewww.capital.comwww.etoro.com
🛡️Founded year20162006
🏦 HeadquarterThe United KingdomIsrael
🗺️ Authorized & Regulated inUK, Cyprus, BelarusUSA, UK, Australia, Cyprus
🔒 Is Broker safeYesYes
💰 EUR/USD Spread0.80.97
💳 Minimum depositUS$20 US$50 or US$500
💰 Withdrawal feeUS$0US$5
🖥️ Trading PlatformMT4, Mobile appeToro’s trading platform
📈 Markets offeredForex, Indices, Stocks, Commodities, CryptocurrenciesIndices, Forex, Commodities, Stocks, Cryptocurrencies, ETFs
📉 Number of Products3720 (depends on the jurisdiction)986
🔎 Our Detailed ReviewCapital.com RevieweToro Review

Licenses and Regulation

On this Capital.com vs eToro comparison review, we found out that both brokers are safe to trade and highly reliable; they provide low-risk trading due to regulations and are not a scam.

Capital.com holds 3 regulatory licenses, regulated in the United Kingdom, Cyprus, and Belarus. eToro, in its turn, is licensed by some of the top global regulators like the UK’s FCA, CySEC, ASIC, and FinCEN.

For this review, we opened a standard account on the MT4 platform with Capital.com SV Investments Limited which is regulated by CySEC in Cyprus, and an account under eToro (Europe) Limited regulated by CySEC.

We recommend that you register your Capital.com account with the CySEC entity and the eToro UK or CySEC entity if they are available in your jurisdiction.

 Capital.comeToro
🔒 LicensesFCA
CySEC
NBRB
ASIC
CySEC
IE Singapore
FCA
NFA
Top Tier License✔️✔️
Publically Traded❌ ❌
Compensation Scheme✔️ (depending on the entity)✔️ (depending on the entity)

Capital.com vs eToro Fees

Capital.com and eToro fees are similar and mainly built into a spread basis, there are no commission-based accounts.

There are a few non-trading fees charged by eToro. The broker charges a $10 monthly fee after a year for inactive accounts. Though deposit and account maintenance are free on eToro, it charges $5 for each withdrawal, while Capital.com doesn’t charge any deposit, withdrawal, inactivity, or account maintenance fees.

 Capital.com FeeseToro Fees
Fees based on the spread✔️✔️
Floating Spread✔️✔️
Fixed Spread❌❌
Commission-based fees❌❌
Inactivity Fee$0$10
Deposit fee$0$0
Withdrawal fee$0$5
Active trader/ VIP Programs✔️ ✔️

Spreads Charged in Our Trades

For our test trades on Capital.com vs eToro accounts, we chose popular instruments in each market. We placed 3 trades for each instrument to get the average spread, we found both negative and positive sides for each Broker spread.

Capital.com spreads for Forex are much lower than the industry average. Spreads on Indices and gold are also on the lower side. However, spreads charges on Stocks and cryptocurrency traders are too high.

eToro spreads for Indices and Forex are below the industry average. For commodities and stock CFDs, spreads are above the industry average. Cryptocurrencies in our trades are more than double the industry average.

MarketsInstrumentsCapital.com Avg.
spread
eToro Avg. spreadIndustry avg. spread
IndicesFTSE 1001.41.41.65
ForexEUR/USD0.80.971.16
CommoditiesGold3.124.53.53
StocksAAPL8.32.231.75
CryptocurrenciesBitcoin154102.7172.81
ETFsQQQ0.530.45

Account Types Compared

Capital.com offers three types of accounts to retail traders. eToro, in its turn, offers only a single account with access to all tools and services.

Opening a new account with Capital.com was smooth and quick, the registration process took around 16 minutes, and our account was approved on the same day.

Opening a new account on eToro was very simple and easy, the registration process took merely 11 minutes.

 Capital.com AccountseToro Accounts
Standard Account✔️✔️
ECN / Commission Based Account❌❌
Islamic Account❌ ✔️
PAMM Account❌❌

Markets and Products

Capital.com offers a wider range of instrument selection compared to eToro, however, all are traded as CFDs, eToro is primarily a Forex and CFD broker, but also offers trading services with real Stocks, ETFs, and Cryptocurrencies.

MarketsCapital.com InstrumentseToro Instruments
Indices2713
Forex13849
Commodities3831
Stocks3,278726
Cryptocurrency23916
ETFs151

Trading Conditions

Capital.com offers excellent trading conditions. It allows hedging and scalping strategies, while eToro doesn’t allow scalping, and conditions are fair and suitable for beginning traders.

Trading MethodCapital.comeToro
Hedging✔️✔️ (eToro will retain the profits)
Scalping✔️ ❌
Change Leverage✔️✔️
Copy trading/ Social trading✔️✔️
Beginners Trading❌ ✔️
Professional Trading✔️✔️

Deposit and Withdrawal

Our overall experience with both deposit and withdrawal processes on Capital.com was positive, however, we were disappointed by the lack of support for eWallets, also there was an issue with our first withdrawal request.

Both deposit and withdrawal processes on eToro are simple enough, supporting various funding methods. However, it charges a flat fee of $5 for every withdrawal. 

We tested the deposit process on Capital.com only using a debit card.

We tested the deposit process on eToro using multiple payment modes and, in each case, the deposits were received instantly.

Capital.comeToro
💰 Deposit Fee❌❌
💰 Withdrawal fee❌$5
💳 Minimum deposit✔️ (based on account type)US$50 or US$500
Bank Transfer✔️✔️
Debit/ Credit Cards✔️✔️
PayPal❌ ✔️
Skrill❌ ✔️

Trading Platform

eToro uses its unique platform and does not offer any other alternatives. The platform looks modern and is easy to use, however it lacks professional research tools, comprehensive fundamental data while analysis is rather basic. Capital.com offers two platforms like MetaTrader 4 and Capital.com trading app.

eToro is known for its social trading feature. In fact, it gained popularity because of this feature. It basically has two features: CopyTrader and CopyPortfolio.

Capital.com onboards professional clients, offering them higher leverage levels.

Capital.com PlatformeToro Platform
Proprietary Platform✔️✔️
Web Platform✔️✔️
Desktop Platform✔️ ❌
Mobile App✔️✔️
Alternative Platforms✔️ ❌
MetaTrader4✔️ ❌
Simple to use platform✔️✔️
Demo Account Trading✔️✔️
Execution Agency Model❌❌
Research✔️✔️
Advanced Research tools✔️ ❌

Education and Support

eToro does not offer high-quality education resources, while Capital.com offers exceptional educational resources. Capital.com and eToro both offer decent customer support with Live Chat and support inquiries.

Capital.com offers detailed courses, in-depth articles, and guides to educate traders.

We found eToro developing its learning materials and established eToro Trading School.

Capital.com SupporteToro Support
Trading School for Beginners❌ ✔️
Tutorials✔️✔️
Trading Videos✔️ ❌
Webinars✔️✔️
Daily News and Analysis❌ ✔️
Economic Calendar✔️✔️
Live Chat✔️✔️
Email Support✔️✔️
24/7 availability✔️ ❌

Conclusion on Capital.com vs eToro

This comparison review of Capital.com vs eToro showed that these brokers are trustworthy. eToro is suitable for beginners, it has some attractive features such as social trading. Capital.com is attractive by its forex trades being much lower than the industry average, it allows hedging and scalping.

Trading costs are relatively similar, based on a spread with no commission with a competitive trading environment.

Overall, our experience with Capital.com was positive. Although, we did face some issues with the first withdrawal process. We recommend Capital.com to forex traders who run EA and other trading strategies.

Our trading experience on the eToro platform was smooth. eToro is good for beginners and experienced/popular traders. It has some attractive features like social trading and is Best for the number of Top Traders.

Capital.comeToro
Recommended for✔️ Cryptocurrency Trading
✔️ Scalping Trader
✔️ MT4 Trader
✔️ EA Trader
✔️ Stocks Trader
✔️ Social Trading
✔️ Beginning Traders
✔️ Trading Currency Pairs
✔️ Cryptocurrency Trading
✔️ Stocks Trading
Might not be fit for❌ Futures Trading
❌ Commission Based Trading
❌ Scalping trader
❌ Hedging trader
❌ EA trader
❌ Trading through MT4/MT5 platform only
❌ Commission-based trading