Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.
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BrokerDNA™
The BROKERDNA™ score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers. This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here. |
ForexTime
9.5
/10
VISIT FOREXTIME
The BROKERDNA™ score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers. This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here. |
Darwinex
7.9
/10
VISIT DARWINEX
The BROKERDNA™ score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers. This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here. |
XTB
10
/10
VISIT XTB
The BROKERDNA™ score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers. This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here. |
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About |
ForexTime is regulated by CySEC. ForexTime have provided Forex, Metals, CFD trading services since 2011. |
Darwinex is regulated by the Financial Conduct Authority. Darwinex have provided Forex, Spread betting trading services since 2012. |
XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002. |
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Why choose them? |
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Headquarters | Tassou Papadopoulou 6, Flat /office 22, Ag. Dometios, 2373, Nicosia, Cyprus | London, UK | Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK | |
TRADING SERVICES OFFERED |
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Spot Forex | ||||
Forex (CFD) | ||||
CFD | ||||
Spread Betting | ||||
Social Trading | ||||
MARKETS & INSTRUMENTS | ||||
Forex (currency pairs) | 57 | 40 | 48 | |
Commodities Offered | 0 | 21 | ||
Stocks Offered | 173 | 1606 | ||
Bitcoin | ||||
Majors | ||||
Indices | ||||
US Stocks | ||||
Penny stocks | ||||
Energies | ||||
Metals | ||||
Agriculturals | ||||
FTSE | ||||
Dow Jones | ||||
Dax | ||||
Nikkei | ||||
ETFs | ||||
IPO | ||||
See all instruments
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. |
See all instruments
73% of retail investor accounts lose money when trading CFDs with this provider |
See all instruments
79% of retail investor accounts lose money when trading CFDs with this provider. |
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PLATFORM & FEATURES |
See the platforms and features offered by each broker |
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Screenshot |
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MT4 | ||||
MT5 | ||||
MT4 Mac | ||||
WebTrader | ||||
Mirror Trader | ||||
ZuluTrade | ||||
Sirix | ||||
cTrader | ||||
PAMM | ||||
Custom Platforms | No | Social Trading | Xstation5 | |
APPS |
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iOS |
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Android |
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Windows |
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Available Languages |
Italian, Malay, Polish, Dutch, English, Arabic, Chinese, Czech, Indonesian, Russian, Serbian, Slovak, Spanish, French, German, and Greek |
English, Spanish, Chinese, and French |
English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian. |
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See platform & features
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. |
See platform & features
73% of retail investor accounts lose money when trading CFDs with this provider |
See platform & features
79% of retail investor accounts lose money when trading CFDs with this provider. |
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ACCOUNT INFORMATION |
From micro accounts to ECN accounts, compare the accounts offered by ForexTime and Darwinex |
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Demo account | ||||
Mini account | ||||
Micro account | ||||
Standard account | ||||
ECN Account | ||||
Islamic account | ||||
Zero spread account | ||||
VIP account | ||||
Fixed spreads | ||||
Variable spreads | ||||
See account options
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. |
See account options
73% of retail investor accounts lose money when trading CFDs with this provider |
See account options
79% of retail investor accounts lose money when trading CFDs with this provider. |
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TRADING CONDITIONS |
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Scalping | ||||
Hedging | ||||
Expert advisors (EAs) | ||||
Virtual private server | ||||
Direct market access | ||||
STP broker | ||||
Market maker | ||||
Min trade | Varies | 0.01 Lot | 0.01 Lot | |
Max trade | Varies | None | 100 Lot | |
Min deposit | $10 | $500 | $1 | |
RISK MANAGEMENT |
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Stop losses | ||||
Limit orders | ||||
One-click trading | ||||
Trailing stops | ||||
Price alerts | ||||
Signal trading | ||||
FUNDING METHODS |
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Credit card | ||||
Bank transfer | ||||
Standard account | ||||
Paypal | ||||
Neteller | ||||
Skrill | ||||
Payment processing time | 1 business day | 1-3 business days | Same day if requested before 1PM | |
Withdrawal processing time | 2 business days | 1-3 business days | Same day if requested before 1PM | |
See all funding options
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. |
See all funding options
73% of retail investor accounts lose money when trading CFDs with this provider |
See all funding options
79% of retail investor accounts lose money when trading CFDs with this provider. |
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DETAILED INFO |
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Excluded countries | US | US | US,IN,PK,BD,IQ,IR,IL,AF,AU,CA | |
Contact email | Send Email | Send Email | Send Email | |
Phone number | 44 203 734 10 25 | 44 20 7193 1232 | 44 2036953085 | |
Live Chat | ||||
Website | http://www.forextime.com/ | https://www.darwinex.com | www.xtb.com | |
Spreads: | ||||
EUR/USD (Average: 0.7 pips) | 1.7 pips + $4.00 | Not offered | 0.1 pips | |
GBP/USD (Average: 1.1 pips) | 2.6 pips + $4.00 | Not offered | 0.1 pips | |
USD/JPY (Average: 1.1 pips) | 2.5 pips + $4.00 | Not offered | 0.1 pips | |
AUD/USD (Average: 0.8 pips) | 1.8 pips + $4.00 | Not offered | 0.2 pips | |
USD/CHF (Average: 2.3 pips) | 2.0 pips + $4.00 | Not offered | 0.2 pips | |
USD/CAD (Average: 2.9 pips) | 2.0 pips + $4.00 | Not offered | 0.3 pips | |
NZD/USD (Average: 3.6 pips) | 2.0 pips + $4.00 | Not offered | 0.3 pips | |
EUR/GBP (Average: 2.4 pips) | 2.2 pips + $4.00 | Not offered | 0.1 pips | |
View all spreads
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. |
View all spreads
73% of retail investor accounts lose money when trading CFDs with this provider |
View all spreads
79% of retail investor accounts lose money when trading CFDs with this provider. |
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FEES |
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Inactivity Fee | Yes, after six months. | No | No | |
Commission | No | Yes | Yes | |
Deposit Fee | No | No | No | |
Withdrawal Fee | Yes | Yes | No | |
View All Fees
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. |
View All Fees
73% of retail investor accounts lose money when trading CFDs with this provider |
View All Fees
79% of retail investor accounts lose money when trading CFDs with this provider. |
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Last update |
All information collected from http://www.forextime.com/. Last updated on 01/03/2021. |
All information collected from https://www.darwinex.com. Last updated on 01/03/2021. |
All information collected from www.xtb.com. Last updated on 01/03/2021. |
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Company |
ForexTime is an online broker that service a wide range of clientele including retail and institutional clients. They offer a large amount of trading instruments including forex, metals, CFDs, ETF CFDs and share CFDs. They utilise the latest technology for trading including the MT4 and MT5 Trading platform across PC, MAC and smartphones. They provide currency convertors, margin calculators and market analysis to stay on top of the financial markets. |
Darwinex is an online forex trading service provider who are regulated by the Financial Conduct Authority. To open an account with Darwinex, minimum deposits start from $/£500. |
XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances. |
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Popular comparisons |
Popular comparisons feat. ForexTime
ETX Capital vs ForexTime |
Popular comparisons feat. Darwinex
Darwinex vs ZuluTrade |
Popular comparisons feat. XTB
XTB vs IG |
If you’re a trader looking for a broker that offers ECN execution (as opposed to a market maker), ForexTime is likely the better choice. However, if you want a broker with lower spreads on currency pairs like EUR/USD, Darwinex may be more appropriate.
You can determine a broker’s reliability & trustworthiness by looking at eight factors:
Based on these eight factors, we consider ForexTime and Darwinex to be equally reliable. We’ve broken down why below:
ForexTime is regulated by CySEC, while Darwinex is regulated by Financial Conduct Authority.
XTB are also regulated by the Financial Conduct Authority.
If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).
This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.
ForexTime has been around for 10 years, while Darwinex have been around for 9 years. Our third alternative broker, XTB, have been around for 19 years.
You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?
Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.
All three brokers above will hold your money in a separate bank account.
Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.
ForexTime uses tier one banks as their banking partner.Darwinex does not use tier one banks as their banking partner.
If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.
We’re not aware of any penalties or fines imposed by regulators on ForexTime or Darwinex in the past five years.
While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.
Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.
Both ForexTime and Darwinex are privately owned companies.
Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.
ForexTime are based in Tassou Papadopoulou 6, Flat /office 22, Ag. Dometios, 2373, Nicosia, Cyprus, while Darwinex are based in London, UK .
Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.
This can be broken down into three categories:
If you’re looking to trade currency pairs, both ForexTime and Darwinex offer forex trading. ForexTime have a slightly larger variety of currency pairs with 57 pairs, compared to 40 offered by Darwinex. Also, if you’re looking to trade cryptocurrencies,
If you’re looking to trade commodities like gold, silver or oil, ForexTime may be a better fit as Darwinex does not offer commodity trading.
Darwinex also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.
If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both ForexTime and Darwinex offer this. ForexTime also offer the new & improved MT5 platform. Our alternative broker, XTB, also offers MT4 and MT5.
In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. XTB, for example, offer a mini account, standard account and VIP account.
If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.
ForexTime does allow scalping and hedging. While Darwinex also allows scalping and hedging. You can trade with EAs (expert advisors) on both ForexTime and Darwinex.
In terms of risk management tools, ForexTime does offer negative balance protection to prevent you owing your broker more than you’ve deposited, but Darwinex doesn't offer this.
ForexTime also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.
ForexTime accept Neteller while Darwinex accept Payoneer.
Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.
For trading EUR/USD, ForexTime charges 0.10 points, while Darwinex charges 0.20 points. Therefore, ForexTime is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.
Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, Darwinex is more reliable based on our criteria above. ForexTime has a wider range of instruments to trade. ForexTime offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.
Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:
Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.