Broker Overview
XM
XM is a globally recognized retail forex broker that caters primarily to beginner and intermediate traders. Known for its $5 minimum deposit, extensive educational resources, and user-friendly approach to forex trading with comprehensive customer support.
FXTM
FXTM (ForexTime) is an international forex broker established in 2011, offering various account types and trading conditions. Known for its competitive spreads, strong institutional backing, and focus on providing professional trading environment for both retail and institutional clients.
Regulation Comparison
XM Regulation
- ASIC (Australia)
- CySEC (Cyprus)
- DFSA (Dubai)
- FSCA (South Africa)
- FSC (Belize)
- FSC (Mauritius)
FXTM Regulation
- FCA (UK) - Tier 1
- FSC (Mauritius)
- FSCA (South Africa)
- CMA (Kenya)
Note: FXTM holds prestigious FCA regulation providing stronger client protection. Both brokers accept Malaysian traders under international regulations.
Account Types Comparison
XM Account Types
- Standard Account
- Ultra Low Account
- Shares Account
- Islamic (Swap-Free) Options
Min Deposit: $5
FXTM Account Types
- Advantage Account
- Advantage Plus
- Advantage Stocks
Min Deposit: $200
Verdict: XM has the lowest entry barrier at $5, while FXTM offers more professional account types with $200 minimum.
Spreads & Execution
XM
- EUR/USD: From 0.6 pips
- Execution: 100% Execution Policy (99.98% under 1 sec)
- Commissions: No commissions (Standard & Ultra Low accounts)
- Slippage: Tight control; Negative Balance Protection standard
FXTM
- EUR/USD: From 0.0 pips
- Execution: Market Execution with no re-quotes
- Commissions: From $3.5 per lot(Advantage account)
- Slippage: Excellent on ECN; Negative Balance Protection included
Winner: FXTM edges ahead with better spreads, making it more cost-effective for active traders.
Trading Platforms
XM Platforms
- MetaTrader 4 (MT4)
- MetaTrader 5 (MT5)
- XM WebTrader
- XM App
FXTM Platforms
- MetaTrader 4 (MT4)
- MetaTrader 5 (MT5)
- FXTM WebTrader
- FXTM App
Draw: Both brokers offer similar platform selection with MT4/MT5 and proprietary web platforms. Quality is comparable.
Deposits & Withdrawals
XM
- Methods: Local Bank Transfer (Malaysia), Credit/Debit cards, Skrill, Neteller.
- Processing: Most withdrawals are processed within 24 hours.
- Fees: Zero deposit and withdrawal fees for all methods.
- Local Support: Excellent Malaysian support with direct FPX/Local Bank options for seamless MYR transactions.
FXTM
- Methods: Local Bank Transfer (Malaysia), Credit/Debit cards, Skrill, Neteller, and specialized SE Asia online banking.
- Processing: Typical processing time is 24-48 hours.
- Fees: No fees for deposits over $30.
- Local Support: Strong presence in Malaysia with reliable local payment gateways and MYR support.
Winner XM: XM provides a superior fee structure with a strict Zero-Fee policy on withdrawals and covers intermediary bank charges for amounts over $200. Its local bank integration in Malaysia is exceptionally robust and efficient compared to FXTM's tiered fee structure.
Customer Support & Education
XM Support
Excellent multilingual support with dedicated beginner assistance. Comprehensive educational program including webinars, video tutorials, and market analysis. Very patient with new trader questions.
- • 24/5 live chat support
- • Extensive education center
- • Daily market analysis
FXTM Support
Professional multilingual support with focus on trading assistance. Good educational resources including market analysis and webinars. Strong technical support for platform issues.
- • 24/5 multilingual support
- • Market research and analysis
- • Educational webinars
Detailed Pros & Cons
XM
Pros
- Ultra Low $5 minimum deposit
- Comprehensive education resources
- Beginner-friendly interface
- No commission on standard accounts
- Fast e-wallet withdrawals
Cons
- Wider spreads than ECN brokers
- Market maker execution model
- Inactivity fee
- Limited ECN options
FXTM
Pros
- FCA regulation (Tier-1)
- Competitive ECN spreads
- Low commissions on ECN accounts
- Professional execution quality
- High leverage up to 1:3000
Cons
- Higher minimum deposit than XM
- Less comprehensive education
- Slower withdrawal processing
- More complex account structure
Trading Costs Breakdown
| Currency Pair | XM Standard | XM Ultra Low | FXTM Advantage Plus | FXTM Advantage |
|---|---|---|---|---|
| EUR/USD | 1.6 pips | 0.8 pips | 1.5 pips | 0.0 pips + $3.5 per lot |
| GBP/USD | 1.8 pips | 0.8 pips | 2.5 pips | 0.2 pips + $3.5 per lot |
| USD/JPY | 2.0 pips | 0.8 pips | 2.5 pips | 0.1 pips + $3.5 per lot |
| AUD/USD | 2.3 pips | 1.3 pips | 2.1 pips | 0.2 pips + $3.5 per lot |
Note: XM for Beginners / FXTM for Professionals. XM’s Ultra Low account offers the best value for retail traders due to its zero-commission model and highly competitive spreads starting at 0.8 pips. However, high-volume professional traders may find FXTM’s Advantage account more cost-effective as it provides "raw" spreads starting from 0.0 pips in exchange for a volume-based commission.
Final Verdict & Recommendations
For Complete Beginners
XM - Offers a lower $5 entry barrier, more comprehensive localized education, and a dedicated live education room.
For Active Traders
FXTM - Provides specialized MT4 add-ons and faster STP execution speeds favored by high-frequency traders.
For Low-Cost Trading
XM (Ultra Low) - Best for those wanting no-commission trading with tight spreads starting from 0.8 pips.
For Education & Learning
XM - More comprehensive educational resources
For Regulation Quality
FXTM - Superior FCA regulation
For Malaysian Traders
XM - Superior integration with Malaysian local banks and highly rated local customer support in Malay.
Overall Recommendation:
FXTM wins for: High-volume professional traders who need raw ECN spreads and specialized MetaTrader tools, and are willing to pay volume-based commissions.
XM wins for: Beginners and retail traders seeking zero-commission trading, extensive education, and the most reliable MYR local bank support.
Bottom Line: Choose XM for a balanced, low-cost experience with easy local deposits; choose FXTM if you require professional-grade ECN execution and higher leverage.