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Tier1FX vs Switch Markets
Both forex brokers have built a positive reputation, and feedback from our members supports that.
That said, Tier1FX currently holds a lower overall rating (3.7) compared to Switch Markets (4.5).
Tier1FX has a higher minimum deposit than Switch Markets, at 500.0.
Both platforms offer their clients demo accounts, mobile trading, scalping, MAM/PAMM.
Traders should note that
both companies offer the same minimum lot size 0.01, but Tier1FX has a maximum lot size of 50.0, while Switch Markets offers 100.0.
Tier1FX offers a lower maximum leverage of 1:30, whereas Switch Markets allows trading with up to 1:1000.
If youre unsure which of these two brokers to choose, you can always explore our full list of recommended brokers here or ask for opinions from other members in Myfxbook Community.
If youre unsure which of these two brokers to choose, you can always explore our full list of recommended brokers here or ask for opinions from other members in Myfxbook Community.
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Overall Rating:
Platform:
Pricing:
Customer service:
Features:
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| Minimum deposit ($) | 500.0 | 50.0 |
| Commission | 5.0 | 3.5 |
| Accepting US clients? | ||
| Swap free accounts | ||
| Segregated accounts | ||
| Interest on margin | ||
| Managed accounts | ||
| Accounts for money managers (MAM, PAMM) | ||
| One click trading | ||
| API | ||
| OCO orders | ||
| Trading over the phone | ||
| Hedging allowed | ||
| Trailing stops | ||
| Mobile trading | ||
| Scalping allowed | ||
| Bonuses | ||
| Demo Accounts | ||
| Web based trading | ||
| Contests | ||
| Decimals | 5 | 5 |
| Minimum lot size | 0.01 | 0.01 |
| Maximum lot size | 50.0 | 100.0 |
| Spread | - | Variable |
| Broker type | STP, ECN, DMA | STP, ECN, Pro, Cent |
| Maximal leverage (1:?) | 30 | 1000 |
| Availability | STP, ECN, DMA | STP, ECN, Pro, Cent |
| Regulation | MFSA (Malta) | - |
| Trading Platforms | MetaTrader 4 (MT4), JForex, Fortex 6 | MetaTrader 4 (MT4), MetaTrader 5 (MT5), Web Platform, Mobile Platform |
| Funding/Withdrawal methods | Wire Transfer, Neteller | Wire Transfer, Credit Card, Debit Card, Perfect Money, Neteller, UnionPay, Skrill, FasaPay, Local Deposits, Bitcoin, Multiple local methods, PayTrust, PayRetailers, Payment Asia, Crypto, Dragonpay, USDT, Visa, Mastercard, cryptoPay |
| Account Currency | USD, GBP, EUR | USD, GBP, EUR, CHF, NZD, CAD, AUD, PHP |
| Languages | English, Spanish, Italian, Chinese, Croatian | English, Spanish, Portuguese, Italian, Russian, Filipino, Tagalog |
| Country | Malta | Singapore |
| Trading platform(s) timezone | Malta | Australia, Cyprus, Singapore |
| Other trading instruments | Commodities, Energies, CFDs | - |
| spreads | ||
| EUR/USD | - | - |
| GBP/USD | - | - |
| USD/JPY | - | - |
| USD/CAD | - | - |
| XAU/USD | - | - |
