KLMFX or TIOmarkets – which is better for UK traders 2024? Compare KLMFX and TIOmarkets in this detailed breakdown of their platforms, features and fees.
KLMFX offers traditional assets and markets on the MetaTrader 5 platform.
TIO Markets is a global forex and CFD brokerage with both an offshore and UK-regulated branch. The broker has a strong customer focus, with 24/7 telephone and live chat customer service. Traders can access a range of accounts with competitive spreads from 0.4 pips.
Pros
I have found fees to be pretty competitive with TIO Markets, averaging as low as 0.2 pips for GBP/USD on the VIP account
The company's 24/7 customer service availability is in line with some of the top brokerages that I have reviewed
Another major advantage for me is the free access to Trading Central, an excellent charting and analysis tool
TIO Markets offers access to the powerful MT4 and MT5 platforms with market-leading analysis tools
UK clients will be happy to find that spread betting opportunities are supported by TIO Markets
I'm also pleased to see top-tier FCA regulation through the company's UK branch
Cons
Most traders will be registering with the global branch, which is regulated offshore and will not offer any robust fund safeguarding measures
Leverage rates with the UK branch are limited to a maximum of 1:30, which may feel restricting for experienced traders
Compared to major competitors, TIO Markets' educational resources are notably limited
Unfortunately, I do feel that the broker's mediocre range of 300 CFDs will be quite restricting for most traders. It certainly doesn't compare to many other brands I review. Plus, the absence of crypto, ETF and soft commodity CFDs is a further setback.
Leverage
1:800
1:30
FTSE Spread
1.2
20
GBPUSD Spread<
2.4
0.8
Oil Spread
0.3
0.02
Stocks Spread
Variable
Variable
Forex
KLMFX offers online currency trading on majors, minors and exotics.
My tests uncovered an average selection of 46 forex pairs, including major, minor and exotic currency combinations. That said, access to both the MT4 and MT5 platforms is a major bonus for forex strategists looking for market-leading software.