Plain-English forex education. No hype, no signals.فارسی
BrokerCutForex Academy

Head to head

ITBFX vs WM Markets

ITBFX has no licence we could confirm on a regulator's register. WM Markets has no licence we could confirm on a regulator's register. The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.

Minimum deposits start at $10 at ITBFX and $50 at WM Markets. Only WM Markets offers negative balance protection. Both offer segregated client money.

Facts last checked: ITBFX on 29 October 2026, WM Markets on 20 October 2026.

ITBFX profileWM Markets profile
Broker 1
Broker 2
Broker 3

Monthly cost uses the account chosen in each slot: cost per lot × your lots. Swap and other fees are extra. The lowest monthly cost is highlighted only as a fact about cost, not as a recommendation.

Broker
ITBFXRead the profile
WM MarketsRead the profile
Comparing
ITBFX
WM Markets

Overview

Founded
2017
Not yet checked
Headquarters
Rodney Bay, Gros-Islet, Saint Lucia
Fomboni, Mwali (Comoros)
Official websites
  • itbfx.com
  • itbfx.net
  • wmmarkets.com
  • en.wmmarkets.com
Facts last checked
29 October 2026
20 October 2026

Regulation and protection

Company you would contract with
No licence listed
No licence listed
Regulator
No licence listed
No licence listed
Regulation level
No licence listed
No licence listed
Licence number
No licence listed
No licence listed
Clients this company serves
No licence listed
No licence listed
All licences held
None listed
None listed
Segregated client money
Yes
Yes
Negative balance protection
No
Yes
Compensation scheme
None
None

Costs

Your monthly cost
No accounts listed
No accounts listed
Cost per lot (EUR/USD)
No accounts listed
No accounts listed
Spread from
No accounts listed
No accounts listed
Typical EUR/USD spread
No accounts listed
No accounts listed
Commission per lot (round turn)
No accounts listed
No accounts listed
Typical GBP/USD spread
Not yet checked
Not yet checked
Typical USD/JPY spread
Not yet checked
Not yet checked
Typical XAU/USD spread
Not yet checked
Not yet checked
Swap-free account
Yes
Yes

Leverage and margin

Maximum retail leverage
Up to 1:500 (ECN account)
Up to 1:2000 (dynamic, set per instrument)
Retail leverage by asset class
  • Forex and metals (Nano): 1:200
  • Forex, metals, indices and crypto (Standard): 1:400
  • Gold and silver (Gold): 1:400
  • Forex, metals, indices, crypto and shares (ECN): 1:500
  • Cryptocurrencies (Crypto): 1:10 to 1:50
  • Shares (Stock): 1:10
Not yet checked
Margin call level
Not yet checked
100%
Stop-out level
15% Gold; 20% Nano and Standard; 30% ECN; 40% Crypto and Stock
20%

Account

Minimum deposit (this account)
No accounts listed
No accounts listed
Base currencies
No accounts listed
No accounts listed
Execution
No accounts listed
No accounts listed

Platforms and features

Platforms
  • MetaTrader 5
  • MetaTrader 4
  • MetaTrader 5
  • WM Markets mobile app
  • MT4 WebTrader
Markets
CFDs on forex, gold and silver, indices, energies, shares and cryptocurrencies
CFDs on forex, metals, indices, energies, commodities, treasuries, shares, ETFs and cryptocurrencies
Demo account
Yes
Yes
Copy trading
Not yet checked
Yes
Expert advisors (automated trading)
Yes
Not yet checked
News trading allowed
Not yet checked
Not yet checked
Guaranteed stops
Not yet checked
Not yet checked

Deposits and withdrawals

Deposit methods
  • Cryptocurrency
  • Local currency exchange services
Not yet checked
Withdrawal fee
None charged by ITBFX, says its FAQ; the agreement allows a 3% charge, or a refund of deposit fees, if you withdraw without trading
Not published; the agreement allows transfer-related and termination fees
Inactivity fee
Up to US$5 a month per account after six months without trading
Accounts with no trading for six months are disabled and may pay maintenance charges (amount not published)

Support

Customer support
24/7 by live chat, phone, WhatsApp, Telegram, email and ticket, in Persian, English, Arabic and other languages
24/5 multilingual support by live chat

Our notes

Strengths
  • Six account types on MetaTrader 5, with a demo version of each
  • The Nano account opens from $10 and trades in steps of 0.001 lots
  • Swap-free (Islamic) option on request
  • The client agreement says client money is held in segregated accounts
  • Negative balance protection is written into the client agreement
  • The agreement says client money is kept apart from the company's own funds
  • Says it holds a client funds insurance policy of up to $1,000,000
Watch out for
  • Says it is regulated by the Mwali International Services Authority (MISA) but publishes no licence number; we could not confirm a licence on MISA's register on 2026-10-29 (the register sits behind a bot check).
  • The BVI Financial Services Commission's Public Statement 2 of 2020 says www.itbfx.com circulated a forged BVI investment business licence and has never been licensed in or from the BVI.
  • No negative balance protection: the account risk warnings say losses can exceed your deposit, and the agreement makes you pay any shortfall within two working days.
  • The website names International Trading Brachium Ltd (Saint Lucia), while the client agreement names ITB Limited (Seychelles); neither is a licensed firm on any register we checked.
  • Says WM Markets Ltd holds MISA licence BFX2024009; we could not confirm it on MISA's register on 2026-10-20 (the register blocked automated access).
  • The agreement gives the company a lien over client assets and lets it pledge or reinvest assets held for clients
  • Leverage up to 1:2000, and payment methods and withdrawal fees are not listed on the public website
  • Inactive accounts are disabled after six months and may be charged maintenance fees that are not published

Risk warnings

The buttons to a broker’s website above the table are partner links: we may earn a commission if you open an account through them. That never changes the facts shown here. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Each broker’s own warning:

  • ITBFX: Before trading, you should ensure that you’ve undergone sufficient preparation and fully understand the risks involved in margin trading.
  • WM Markets: Contracts for Difference (CFD) are complex financial instruments carrying a substantial level of risk and may not be suitable for all investors, as may result in the loss of all invested capital rapidly due to leverage. You should consider whether you understand how CFDs work, your investment objectives, level of experience, risk appetite, and, if necessary, seek advice from an independent financial advisor.

Open this comparison in the full tool to share a link with your own accounts and companies chosen.

Other head-to-head pages

Cost per lot is the typical EUR/USD spread in busy hours × $10, plus any round-turn commission, for one standard lot. “Not yet checked” means we have not confirmed that fact yet. This page compares facts; it does not rank the brokers or recommend either. Confirm costs and licences on each broker’s site and the regulator’s public register before opening an account: see how we review brokers and check a broker yourself.

Nothing on this page is financial advice. Read the full disclaimer.

BrokerCut on Telegram

Get the latest forex news and market analysis.

Join the channel