FXTM vs Exness Compared Who is Better Broker

by

FXTM vs Exness: Who Is the Better Broker? An In-Depth Comparison

When entering the world of forex trading, choosing the right broker is arguably the most critical decision you’ll make. The broker you select can influence your trading experience, profitability, and overall success. Among the numerous options available, FXTM (ForexTime) and Exness are two prominent names that often come up in discussions among traders—especially within the United States. Both have built substantial reputations, boast strong regulatory credentials, and offer a plethora of features that appeal to different trader profiles.

However, as a trader, you need more than just reputation; you require clarity about what each platform offers—be it account types, trading conditions, user experience, customer support, or security measures—to make an informed choice. This comprehensive comparison aims to dissect both brokers across all these dimensions, helping you determine which platform aligns best with your goals and trading style.

Overview of FXTM and Exness

Who Is FXTM?

FXTM, or ForexTime, is a globally recognized forex broker established in 2011. The company is headquartered in Mauritius, with regional offices in the United Kingdom, Cyprus, and South Africa. FXTM has garnered a reputation for catering to a broad spectrum of traders—from beginners to experienced investors—and offers a variety of account types, leverage options, and trading instruments.

Key Highlights of FXTM:

  • Regulatory Licenses: Regulated by the FCA (UK), CySEC (Cyprus), and FSCA (South Africa).
  • Trading Offerings: Forex, CFDs, commodities, indices, cryptocurrencies, and precious metals.
  • Platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
  • Deposit and Withdrawal: Multiple options, with a minimum deposit starting as low as $10.
  • Customer Support: 24/5 multilingual support via chat, email, and phone.

Who Is Exness?

Exness, established in 2008, is a broker that has grown rapidly in stature. Headquartered in Seychelles with regulatory licenses in multiple jurisdictions including the UK (FCA), Cyprus, and Saint Vincent and the Grenadines. Known for competitive trading conditions, flexibility in account types, and a focus on transparency, Exness appeals especially to traders who want low spreads and high leverage.

Key Highlights of Exness:

  • Regulatory Licenses: FCA, CySEC, and other regional licenses.
  • Trading Instruments: Forex, metals, cryptocurrencies, CFDs, and energies.
  • Platforms: MT4, MT5, and Exness’ proprietary Web Terminal.
  • Micro Accounts & Zero Spreads: Offers a variety of account options tailored for different trader needs.
  • Customer Support: 24/7 support in multiple languages, including U.S.-friendly channels.

Licensing and Regulation: Trust & Security

Regulatory oversight is a critical factor in assessing a broker’s credibility. It provides a safeguard for traders’ funds and ensures adherence to strict financial standards.

FXTM’s Regulatory Framework

FXTM is regulated by several authorities, which substantiate its commitment to transparency and security:

  • FCA (UK): The Financial Conduct Authority is one of the world’s toughest regulators, imposing rigorous standards on brokers operating in the UK. FXTM UK is authorized, ensuring strict compliance with financial rules.
  • CySEC (Cyprus): While Cyprus-based, CySEC regulation provides a solid level of security, aligning with the European MiFID regulations.
  • FSCA (South Africa): Adds a further layer of regulatory credibility, especially across African markets.

This multi-jurisdictional regulation indicates FXTM’s willingness to uphold high standards across regions, making it a trustworthy choice for traders.

Exness’s Regulatory Certifications

Exness also holds reputable licenses:

  • FCA (UK): A significant credential, especially for U.S. traders, as it signals adherence to high regulatory standards.
  • CySEC (Cyprus): Facilitates access to European traders and ensures compliance within EU regimes.
  • FSA (St. Vincent & the Grenadines): Although less strict than FCA or CySEC, it still provides a license confirming adherence to certain operational standards.

It’s essential for U.S. traders to verify whether brokers are properly licensed within the United States or if they are operating through international licenses—something to clarify before trading.

Account Types and Trading Conditions

The core of any trading broker comparison lies in the actual trading conditions, including account types, spreads, leverage, and available trading instruments.

FXTM Account Offerings

FXTM provides well-structured accounts designed for traders with different needs:

1. Standard Account

  • Minimum Deposit: $10
  • Spreads: From 1.3 pips
  • Commission: None
  • Leverage: Up to 1:1000 (adjustable based on region and regulation)
  • Instruments: Forex pairs, commodities, indices, CFDs

2. Cent Account

  • Designed for beginners or traders testing strategies
  • Minimum Deposit: $10
  • Spreads: From 1.3 pips
  • Leverage: Up to 1:1000

3. ECN Account

  • Minimum Deposit: $50
  • Spreads: From 0.1 pip
  • Commission: $2 per lot
  • Ideal for professional traders seeking tighter spreads and rapid execution

4. Shares Account

  • Focused on CFD trading for stocks
  • Conditions aligned with the global stock exchanges

FXTM’s diverse account offerings enable traders to select based on their risk appetite, trading volume, and experience level.

Exness Account Options

Exness emphasizes flexibility, offering a broad selection of accounts:

1. Standard Account

  • Minimum Deposit: No minimum (often $1 or equivalent)
  • Spreads: Starting from 0.3 pip
  • Commission: None
  • Leverage: Up to 1:2000 (depending on regulator and account type)

2. Pro Account

  • Similar to ECN models
  • Spreads: Often 0.1 pip or better
  • Commission: Yes
  • Suitable for high-volume traders seeking low spreads

3. Zero Spread Account

  • Spreads: Fixed at 0 pip, with a small commission per lot
  • Best for scalpers and fast traders

4. Raw Spread Account

  • Spreads from 0.0 pip
  • Commission-based trading

Exness’s accounts are designed for both retail and professional traders, offering high leverage and low spreads as key features.

Trading Platforms and User Experience

The trading platform is your interface with the markets, impacting your ability to execute trades efficiently.

FXTM’s Platform Offerings

FXTM predominantly utilizes:

MetaTrader 4 (MT4)

  • Industry standard
  • User-friendly interface
  • Automated trading via Expert Advisors
  • Rich charting tools

MetaTrader 5 (MT5)

  • Access to more assets
  • Additional order types
  • Improved analytical tools
  • Calendar and economic news incorporated

FXTM provides seamless app versions for iOS and Android, ensuring mobility.

Exness’s Platform Offerings

Exness offers:

MetaTrader 4 & 5

  • Similar functionalities as FXTM
  • Native mobile apps optimized for trading on the go

Exness Web Terminal

  • Browser-based platform, no downloads needed
  • User-friendly interface with quick order execution

Exness’ Proprietary Platform

  • Less common but offers custom trading experiences.

Ease of use and platform stability are critical factors for traders, and both brokers perform well in this regard.

Spreads, Commissions, and Leverage

Details here directly impact profitability; understanding the differences is key.

FXTM’s Trading Conditions

  • Spreads: Typically start around 1.3 pips for standard accounts, with ECN accounts offering lower spreads (~0.1 pip).
  • Commission: ECN accounts have a $2 per lot fee; standard accounts are commission-free.
  • Leverage: Up to 1:1000, depending on local regulation and account type.

Exness’s Trading Conditions

  • Spreads: Extremely competitive, starting from as low as 0.3 pip, with some accounts offering 0 pip spreads on certain assets.
  • Commission: Zero on standard accounts; optional on ECN-like accounts.
  • Leverage: Up to 1:2000 in some jurisdictions, but users must note that high leverage carries increased risk.

While both brokers offer high leverage, U.S. traders should be cautious, as U.S-regulated brokers are obliged to enforce lower leverage limits.

Customer Support and Educational Resources

Good customer support can make or break a trading experience, especially when technical or account issues crop up.

FXTM’s Customer Support

  • Support channels include live chat, email, phone.
  • Language support in multiple languages, including English.
  • Educational resources: Webinars, trading guides, economic calendars.

Exness’s Customer Support

  • 24/7 support via live chat and email.
  • Multilingual support.
  • Extensive educational content, including tutorials, articles, and market news.

Quality of support is often a reflection of the broker’s professionalism and commitment to traders’ success.

Payment Options and Speed of Transactions

Ease and speed of depositing and withdrawing funds are vital for managing trading capital effectively.

FXTM’s Payment Methods

  • Bank transfer, credit/debit cards, e-wallets (Skrill, Neteller)
  • Fast withdrawals on certain methods
  • Minimum deposit varies, typically starting at $10-$100

Exness’s Payment Options

  • Similar options: bank transfer, credit/debit, e-wallets
  • Instant deposits and withdrawals available on many methods
  • No withdrawal fees in most cases, making it convenient for active traders

Additional Considerations for U.S. Traders

Always ensure compatibility with U.S. banking systems and check against restrictions imposed by U.S. regulators.

The Regulatory and Geographical Restrictions for U.S. Traders

One of the most significant aspects to consider is whether a broker accepts traders from the United States. Many offshore brokers, including FXTM and Exness, do not have U.S. regulatory approval, which can pose legal and security risks.

Important: U.S. traders should prioritize brokers licensed and regulated by the CFTC and NFA.

  • Neither FXTM nor Exness is regulated in the U.S.
  • Trading via offshore brokers carries risks related to legal compliance and fund security.
  • Consider licensed U.S. forex brokers such as IG, FOREX.com, or OANDA for compliance.

Summary: For traders in the U.S., ensure the broker operates under proper U.S. regulation. For international traders, FXTM and Exness have a global footprint and robust features but may face restrictions.

Fees, Spreads, and Overall Cost of Trading

Understanding total trading costs is crucial for evaluating broker competitiveness.

  • FXTM offers competitive spreads, especially on ECN accounts, but may charge commission.
  • Exness often boasts the lowest spreads, sometimes zero, with minimal or no commissions.

The true cost of trading depends on your trading style:

  • Scalpers and day traders benefit from low spreads and commissions.
  • Longer-term traders may prefer for account types with wider spreads but no commissions.

Pros and Cons Overview

FXTM

Pros:

  • Strong regulation (FCA, CySEC, FSCA)
  • Wide selection of account types
  • Good educational resources
  • Availability of MT4 and MT5

Cons:

  • Limited bonus or promotional offers in some regions
  • Higher spreads on standard accounts compared to some competitors
  • Not fully regulated in the U.S.

Exness

Pros:

  • Very low spreads and high leverage options
  • User-friendly trading platform and account types
  • Fast deposits and withdrawals
  • Regulated in multiple jurisdictions

Cons:

  • Less transparent about certain fees
  • Not regulated by CFTC or NFA for U.S. traders
  • Customer support may vary in efficiency

Final Verdict: Who Is the Better Broker?

Determining the “better” broker depends largely on your individual needs:

  • If regulatory security and compliance are your top priorities, FXTM’s licenses with the FCA and CySEC provide significant reassurance, although caution is advised for U.S. traders due to jurisdictional limitations.
  • If trading costs, spreads, and flexibility are critical, Exness’s aggressive pricing and high leverage may appeal.

For U.S. traders, neither FXTM nor Exness is ideal due to regulatory cross-border restrictions, and it’s safer to opt for brokers regulated within the U.S.

For international traders seeking reliability, variety of instruments, and competitive trading conditions, both brokers excel in different areas.

Frequently Asked Questions (FAQs)

1. Are FXTM and ExNESS regulated in the United States?

No, neither FXTM nor Exness holds licenses from U.S. regulatory bodies like the CFTC or NFA. U.S. traders should exercise caution and look for brokers authorized within the country.

2. Which broker offers better trading spreads?

Exness generally offers lower spreads, often starting from as low as 0 pip on certain accounts, while FXTM’s spreads are competitive but slightly higher, especially on standard accounts.

3. Which broker has better customer support?

Both brokers offer 24/5 support via multiple channels, but Exness’s 24/7 support and multilingual offerings give it an edge for some traders.

4. Can I trade cryptocurrencies with FXTM and Exness?

Yes, both brokers offer cryptocurrency trading, but the available pairs and leverage limits may differ.

5. Is leverage higher on Exness or FXTM?

Exness often provides higher leverage options (up to 1:2000), but U.S. regulations limit leverage to much lower levels (~1:50). FXTM’s leverage can go up to 1:1000, depending on jurisdiction.

6. Which broker offers better educational resources?

FXTM is known for its extensive educational content, including webinars and guides, making it suitable for beginners.

7. Are there any deposit bonuses available?

Bonus offerings vary and are subject to regional regulations; both brokers periodically run promotions but always read terms carefully.

8. Which broker is more suitable for professional traders?

Exness offers accounts with high leverage and low spreads, ideal for high-volume traders, while FXTM provides ECN options suited for experienced traders.

Final Thoughts

Choosing between FXTM and Exness ultimately depends on your trading preferences, regulatory comfort, and specific needs. Both brokers offer compelling features, but you must consider factors like regulation, trading costs, platform usability, and customer support in your decision.

In the rapidly evolving landscape of forex trading, staying informed and choosing a broker that aligns with your risk appetite and goals is the cornerstone of sustainable success. Always conduct thorough research, verify current regulatory status, and, if possible, test platforms via demo accounts before committing your capital.

Remember, your broker is your partner in trading—so choose wisely, trade responsibly, and keep learning.

Leave a Comment