EasyMarkets vs FXTM: Comprehensive Comparison for Mongolia Traders (2026)

For Mongolia traders, trading costs directly affect profitability, especially when converting MNT to USD or EUR. EasyMarkets applies fixed spreads – typically 1.0 pip on EUR/USD – with no commission, ideal for traders who dislike variable costs. FXTM’s Standard account has spreads from 1.5 pips commission-free, while its ECN account offers raw spreads from 0.1 pips plus a $7 round-turn commission. For a Mongolia trader executing 10 standard lots per month, FXTM’s ECN can be significantly cheaper despite the commission. However, EasyMarkets’ fixed spreads protect against volatility spikes common during Asian session news events. Both brokers charge no deposit fees for Bank Transfer or USDT, but FXTM’s support for QPay eliminates bank intermediary costs. Traders should factor in currency conversion fees – both brokers automatically convert MNT deposits to account base currency at their own rates.

EasyMarkets provides its proprietary web-based platform and mobile app, designed for simplicity and speed. It includes features like Deal Cancellation, which allows reversing losing trades within 60 minutes – useful for Mongolia traders still learning risk management. FXTM offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5), the industry standard for technical analysis and algorithmic trading. For Mongolia traders, MT4/MT5 support custom indicators and EAs, which are valuable for strategies around volatile MNT pairs or commodity currencies like copper. FXTM also has a proprietary mobile app with copy trading. EasyMarkets’ platform is fully web-based with no download required, ideal for traders with basic devices. Both platforms support Mongolian language interfaces, but FXTM’s MT4 has a more extensive community and third-party tools for advanced analysis.

EasyMarkets uses a market maker model with no requotes and instant execution. For Mongolia traders, this means order fill is guaranteed but at the broker’s price, which can be slightly less favorable during volatile news events. FXTM offers both STP and ECN execution models, providing direct access to interbank liquidity with raw spreads and transparent pricing. FXTM’s execution is faster and more suitable for scalpers and algorithmic traders. For Mongolia traders trading during the Asian session, both brokers offer reliable execution, but FXTM’s ECN model has less slippage on major pairs like USD/MNT equivalent instruments. EasyMarkets’ fixed spread execution is simpler for beginners who prefer certainty over speed.

EasyMarkets is regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC). FXTM holds licenses from the UK Financial Conduct Authority (FCA), CySEC, and the Financial Sector Conduct Authority (FSCA) of South Africa. Neither broker is regulated by the Financial Regulatory Commission (FRC) of Mongolia. For Mongolia traders, this means your funds are not protected under local investor compensation schemes. However, both brokers offer negative balance protection and segregate client funds in tier-1 banks. FXTM’s FCA regulation offers up to £85,000 protection under the UK FSCS, but this may not be accessible to Mongolia residents. EasyMarkets provides insurance cover of up to €1 million per client through Lloyd’s of London. Mongolia traders should verify the specific legal entity accepting their account and understand the regulatory safeguards applicable.

For Mongolia traders, local payment options are critical. EasyMarkets supports deposit via Bank Transfer (wire) and USDT, but not QPay. FXTM goes further by accepting Bank Transfer, USDT, and QPay – a widely used mobile payment system in Mongolia. Deposits with QPay are instant and in MNT, with no conversion fees to the broker’s base currency, saving you up to 2% on currency exchange. USDT deposits (on TRC20 or ERC20) are also fast and low-cost. Bank Transfers can take 2-5 business days and incur intermediary bank fees (often 20-50 USD). Withdrawals at both brokers are possible via Bank Transfer and USDT; FXTM also allows withdrawal via QPay. EasyMarkets processes withdrawals within 1-3 business days, while FXTM usually completes them within 24 hours for electronic methods. Minimum deposits vary: EasyMarkets requires $100 (approx. 330,000 MNT) for standard accounts, FXTM’s minimum is $10 (via QPay or USDT), making FXTM more accessible for emerging retail traders in Mongolia.

Both EasyMarkets and FXTM offer Islamic (swap-free) accounts for Muslim traders in Mongolia, in compliance with Sharia law that prohibits interest. EasyMarkets provides Islamic accounts across all its account types automatically upon request – no swap is charged on overnight positions for most instruments. FXTM offers Islamic accounts on Standard and ECN accounts; activation requires a formal request and verification of Muslim faith (no specific documentation is usually needed). It’s important to note that both brokers may impose an administrative fee for holding positions beyond a certain number of days on Islamic accounts. For Mongolia traders, Islamic accounts are beneficial if you trade directional strategies and hold positions over several days. Neither broker restricts Islamic account holders from using leverage or trading specific instruments. We recommend contacting customer support to confirm the exact conditions for your account type.

EasyMarkets offers 24/5 customer support via live chat, email, and phone. Their team is responsive but primarily communicates in English, with limited support in Russian. FXTM provides 24/5 support in multiple languages, including Russian, Chinese, and Mongolian (via a local office representative). For Mongolia traders, FXTM’s support is more accessible, with faster responses during Asian trading hours. Both brokers have extensive FAQ sections, but FXTM’s local presence in Asia gives it an edge in understanding regional issues like QPay deposits or Mongolian banking queries. EasyMarkets’ support is still reliable but may require more patience for non-English inquiries.