FXTM vs Binomo

FXTM vs Binomo Comparison Table 2024
FXTM	Binomo
Review 4	Review 3.4
Traders from US not accepted See available CFD brokers	Traders from US not accepted See available binary options brokers
FXTM is a forex and CFD broker established in 2011 and operating across four continents. The company is secure and regulated by leading authorities, including the FCA. Offering 1,000+ markets and three account types, they cater to all levels of trader.	Binomo is a beginner-friendly binary options broker that offers trading on forex, stocks and indices via high/low binary options on a simple web-based platform with payouts up to 90% and reliable service. The firm was launched in 2012 and is based offshore.
Bonus Offer
30% up to $100 via Exinity Ltd
Comment by Reviewer
"FXTM is ideal for experienced day traders with account options designed for short-term strategies, even winning DayTrading.com's 'Best ECN Account' award, alongside tight spreads that have been reduced and VPS support for algorithmic trading. "	"Traders who enjoy straightforward, fast-paced trading on forex and stocks should check out Binomo's short-term binary options. The intuitive platform and joining requirements make the brand particularly attractive for newer traders."
Pros
FXTM’s UK entity offers excellent client protections, notably industry beating coverage up to $1 million per client and segregated accounts, enhancing security for traders with large balances. FXTM emerges as a top MetaTrader broker with custom MT4 add-ons, including a Pivot Point Indicator, Pip Value Calculator, and Spread Indicator, for more precise trading. The introduction of FXTM Invest allows traders to follow top strategies with detailed performance stats and risk scores. This feature benefits newer traders by providing clear metrics to match their preferred risk levels. FXTM supports a terrific range of payment methods, especially local options in Africa and Asia like M-Pesa and TC Pay Wallet. And with e-wallet withdrawals processed in as little as 30 minutes, this suits traders who require quick access to funds. FXTM’s Advantage and Advantage Plus accounts offer tight spreads (from 0.0 pips) and low or no commissions, designed for short-term traders looking to minimize costs.	Custom-designed platform that works quickly on mobile devices Demo account available to all with no restrictions Low minimum trade value from $1 Competitive payouts up to 90% Thousands of daily traders Low minimum deposit of $10 Clear tiered account system
Cons
FXTM’s strong UK regulation doesn’t extend globally, so despite negative balance protection, non-British traders may have limited recourse options in case of disputes. FXTM's educational offerings have come a long way, notably its informative e-books, but they are often tailored to beginners, making them less appealing to experienced traders. FXTM only offers MetaTrader 4/5 for desktop trading, with no proprietary platform like eToro for a customized trading experience. MT4/5 is feeling increasingly outdated for active traders. FXTM focuses on CFDs and a modest collection of stocks but lacks ETFs, options, and futures, which can limit diversification for day traders seeking more asset types to capitalize on different markets. FXTM charges a $10 inactivity fee after only three months of no trading - shorter than many brokers, which can be frustrating for those who don’t trade continuously.	Contract expiry times of 1 minute to 1 hour are very short term for many traders Limited extra features with no copy trading Small selection of tradeable instruments Weak regulatory oversight
Awards
Best Trading Experience 2021 - World Finance Awards Best Online Leveraged Trading Services 2021 - Global Business Awards Best Forex Education Partner Nigeria 2021 - World Business Outlook Best Trading Experience 2020 - World Finance Awards Best ECN Broker 2020 - DayTrading.com
Instruments
CFDs, Forex, Commodities, Indices, Stocks, Crypto	Fixed Time Trades
Demo Account
Yes	Yes
Minimum Deposit
$200	$10
Trading Platforms
FXTM Trader MT4 MT5	Own
Payment Methods
Bitcoin Payments Credit Card Debit Card M-Pesa Maestro Mastercard Neteller Skrill Visa Wire Transfer	Cashu Credit Card Doku Wallet JCB Card JetonCash Mastercard Perfect Money Skrill
Minimum Trade
0.01 Lots	$1
Regulator
FCA, FSC, CMA
Margin Trading
Yes	No
STP Account
Yes	No
ECN Account
Yes	No
DMA Account
No	No
MAM Account
Yes	No
PAMM Account
Yes	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	No
Robo Advisor
No	No
Negative Balance Protection
Yes	No
Market Maker
Yes	No
P2P Trading
No	No
Spot Trading
Yes	No
Mobile Apps
iOS & Android	iOS and Android
App Review
FXTM deliver a great mobile trading experience. Fast, secure and easy-to-use, the broker also supports both MetaTrader 4 and 5 and delivers real time quotes, all trading execution types and full account maintenance. The charting facilities are also among the best of any mobile app. Download it today.	The Binomo app distinguishes itself by offering a comprehensive toolkit, including a risk-free demo account and over 30 analytical tools for technical analysis, ensuring newcomers and seasoned traders can confidently navigate the markets. Moreover, its diverse asset offerings across various markets, coupled with the opportunity to leverage CFDs provides a range of opportunties, all while having access to 24/7 support.
Android App Rating
4.4	4.7
iOS App Rating
4.8	4.6
Auto Trading
Expert Advisors (EAs) on MetaTrader	BinomoBot tracks 12 moving and 5 technical indicators and can be set up in than 3 minutes.
Copy Trading
Yes	No
Copy Trading Platform
A great addition to market, the FXTM Invest app is easy to use and provides detailed performance stats and risk scores for Strategy Managers, plus a really handy video guide to help new copy traders understand key concepts like risk, drawdown, and returns.
Social Trading
No	No
Trade Signals
Yes	Yes
VPS Hosting
Yes	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
$10	$30
Islamic Account
Yes	No
Account Currencies
USD EUR GBP NGN	USD EUR
Stock Exchanges
CAC 40 Index France DAX GER 40 Index Deutsche Boerse Dow Jones Euronext FTSE UK Index Hang Seng IBEX 35 Nasdaq S&P 500	Dow Jones Nasdaq New York Stock Exchange
Commodities
Gold Natural Gas Oil Precious Metals Silver	Gold Oil Silver
CFD Trading
FXTM’s CFD offering spans 600+ forex, stocks, commodities and indices, plus crypto (location dependent), with spreads lowered in recent years. Advanced traders can also get industry-topping leverage up to 1:3000 through Exinity Ltd, amplifying results but necessitating strict risk management.	CFD trading not offered
Leverage
1:3000
FTSE Spread
0.8
GBPUSD Spread
0.1
Oil Spread
5.0
Stocks Spread
0.1
Forex Trading
FXTM stands out with a strong selection of over 60 currency pairs, surpassing many competitors like AvaTrade. It also stands out with its six currency indices for traders aiming to diversify their forex portfolios, while the ECN account offers ultra-competitive spreads starting at 0 pips on majors, along with low commissions of just $3.50 per lot.	Binomo offers a competitive suit of currencies from majors like EUR/USD to exotics like EUR/MXN. But with contracts spanning 1 minute to 1 hour, the broker is best for short-term forex binary options traders.
Forex App
FXTM deliver a great mobile trading experience. Fast, secure and easy-to-use, the app supports both MetaTrader 4 and 5 and delivers real time quotes, all trading execution types and full account maintenance. The charting facilities are also among the best of any mobile app. Download it today.
GBPUSD Spread
0.1	N/A
EURUSD Spread
0.0	N/A
EURGBP Spread
0.0	N/A
Assets
60+	19
Currency Indices
USD EUR GBP JPY AUD NZD
Cryptocurrency
Trade cryptocurrency CFDs on 11 popular digital tokens, including Bitcoin, Avalanche, and Dogecoin. Enjoy competitive floating spreads and accessible minimum lot sizes starting at just 0.01, perfect for aspiring crypto traders and experienced investors.	Binomo offers 24/7 fixed time trades on a few major cryptos, including Bitcoin. However this is significantly less than alternatives like Focus Option which offers more than 80 digital tokens.
Spread
Variable	N/A
Coins
BTC ETH LTC XRP	BTC LTC BCH ADA
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No
Binary Options
Binary options trading not offered	Binomo offers binary options trading around the clock, including the weekends. You can speculate on the short-term price movements of popular markets, from stocks to currencies. Payouts are competitive climbing to 90% and contracts start from just 1 minute.
Payout
	90%
Expiry Times
	1 minute - 60 minutes
Ladder Options
No	No
Boundary Options
No	Yes

Review	Review