Dukascopy vs XM Comparison - Online Brokerage Comparison

Compare Dukascopy vs XM

Dukascopy versus XM Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$100MT4, JForex 3500+FCMC
$5MT4, MT5700+FCA, ASIC, CySEC

Dukascopy and XM Comparison

Dukascopy provides ECN trading, offering traders access to the Swiss FX Marketplace. As such it offers MT4 and JForex 3, low spreads, charges a commission and allows all trading styles. XM does have an STP/ECN account, with low spreads plus a commission charge. It offers no dealing desk trading conditions (allowing scalping, hedging and EAs). It also has two other accounts, which have STP trading, without a commission charge.

It would be correct to say that both of these are STP and no dealing desk. However they differ in terms of how direct the market access is (Dukascopy allows traders to act as liquidity providers). Dukascopy offers MT4 and JForex 3. XM provides MT4 and MT5.

XM provides more individual markets to trade, though both offer several hundred. Dukascopy EU is regulated by the FCMC in Latvia, while XM is regulated by the FCA in the United Kingdom, the ASIC in Australia and the CySEC in Cyprus.

Quick comparison

Dukascopy provides ECN trading on MT4 and JForex 3. XM offers a range of account types including STP/ECN trading, on MT4 and MT5. On MT5, XM can offer more markets to trade than Dukascopy.

Minimum deposit and account types

The minimum deposit for Dukascopy is $100. The minimum deposit for XM is £/$5. For both brokers, the minimum deposit for ECN trading is $100.

  • Dukascopy offers one account type, which allows micro lot trading. A Swap-free (Islamic) account is available as well. Dukascopy offers webinars through the JForex 3 platform.
  • XM offers three account types, a Micro and a Standard account, both with minimum deposits of $5 and the XM Zero account, with a minimum deposit of $100. An Islamic account is available for each of these account types. XM's Micro account allows smaller trade sizes than Standard account and XM Zero accounts, which allow larger trade sizes. All accounts allow micro lot trading.
  • XM's Micro and Standard accounts do not charge commissions, the XM Zero account does charge commissions. XM offers a free VPS for clients who have a minimum balance of $5000 in their account, T&Cs apply. XM also provides a personal account manager, video tutorials, daily technical analysis, Forex market research and daily Forex signals, market outlook and webinars.

Markets

  • Dukascopy offers Forex, Indices, Energy, Metals, Stocks, Cryptocurrencies and Soft Commodities, with 500+ available.
  • XM offers Forex, Indices, Energy, Metals and Soft Commodities, with 100+ available on MT4. 700+ are available on MT5 as it also provides Cryptocurrencies and Stocks CFDs.

Dukascopy provides 60+ Forex pairs, XM offers 60+ Forex pairs.

Cryptocurrency CFDs

  • Dukascopy offers Bitcoin and Ethereum.
  • XM offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple.

Spreads and leverage

  • Spreads at Dukascopy are variable. The minimum EUR/USD spread is 0.1 (average 0.2), the minimum spread for UK100 is 1, the minimum spread for Gold is 0.10 and the minimum spread for US Crude Oil is 0.02.
  • Spreads at XM are variable. For the Standard and Micro accounts spreads are from 1 for EUR/USD, 1.5 for UK 100, 0.40 for Gold and 0.05 for US Crude Oil. XM also offers Futures, with UK100 spreads from 4.5.
  • For the XM Zero account, spreads have a low of 0 for EUR/USD, plus commission. On the XM Zero account Gold has an average spread of 0.21.

Maximum leverage for Dukascopy EU is . Maximum leverage for XM (FCA or CySEC regulated) is .

Commissions

  • Dukascopy charges a commission which varies depending on the volume traded, the initial deposit and equity in the account.
  • For Forex, Dukascopy commissions range from $35 per million USD per side, to $10 per million USD traded per side.
  • For other markets except Stocks, Dukascopy commissions range from $52.5 per million USD per side, to $15 per million USD per side.
  • The XM Zero account charges commission of $3.5 per lot per side (for Forex and Gold and Silver).

Platforms

Dukascopy provides MT4 and JForex, available on desktop, tablet and mobile and JForex Web. XM offers MT4 for download and an MT4 webtrader. XM offers MT5 for download and an MT5 webtrader.

Very quick comparison

ECN MT4 and JForex (Dukascopy) VS MT4 and MT5 with a range of accounts including STP/ECN (XM).

Comparison summary

  • Dukascopy provides ECN trading
  • XM has a range of account type, including STP/ECN
  • Dukascopy's ECN provision is direct market access (via Dukascopy Bank SA)
  • Dukascopy offers JForex 3, XM offers MT5
  • Both provide MT4
  • Both brokers offer a competitive commission charge, though Dukascopy has a lower minimum one
  • Dukascopy and XM provide a range of markets, including Stocks CFDs
  • Dukascopy offers Stocks CFDs on JForex
  • XM provides Stocks CFDs on MT5
  • XM has a relatively low minimum deposit
  • For ECN type trading, both have the same minimum deposit

Search this site

Translate