Compare eToro vs XM

Compare eToro vs XM

eToro vs XM Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$200Web Trader & Apps1000+FCA, CySEC, ASIC
$5MT4, MT5700+FCA, CySEC, ASIC

eToro and XM Comparison

Both of these brokers can provide a range of markets to trade. However, eToro has a focus on being a Social Investment Network, supporting social and automated (Copy) trading and thematic investing. XM on the other hand, provides STP/ECN trading, with low Forex spreads, as well as STP trading, without a commission charge.

Both in effect support automated trading. XM is a no dealing desk broker which allows automated trading on MT4 and MT5 by computer programs. eToro is a dealing desk broker, which supports automated social trading. Each also allows discretionary (non-automated) trading. Both are regulated by the FCA in the United Kingdom, the CySEC in Cyprus and the ASIC in Australia.

Quick comparison

eToro supports a range of trading styles including social and copy trading on its web trader and apps, XM offers MT4 and MT4 and a range of account types including a Cent account and an STP/ECN account.

Minimum deposit and account types

The minimum deposit for eToro is $200. The minimum deposit for XM is $5, but for ECN trading it is $100.

  • eToro is a Social Trading Network which supports trading, social trading and auto trading by copying other traders (or being copied) and provides products based on this network. The minimum trade size is 0.01 lots.
  • 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.
  • XM's Micro account allows smaller trade sizes than Standard account and XM Zero accounts, which allow larger trade sizes. An Islamic account is available for each of these account types. The 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. The smallest trade size is 0.001 lots. XM also provides a personal account manager, video tutorials, daily technical analysis, Forex market research and daily Forex signals, market outlook and webinars.

Markets

  • eToro offers Forex, Indices, Energy, Stocks, Metals, Cryptocurrencies, ETFs and Bonds, with 1000+ available.
  • XM offers Forex, Indices, Energy, Stocks, Metals, Cryptocurrencies and Soft Commodities, with 700+ available on MT5, there are 100+ available on MT4, as it does not offer Stocks or Cryptocurrency CFDs.

Cryptocurrencies

  • eToro provides Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Dash, NEO, IOTA, EOS, Cardano, Stellar, Ethereum Classic, TRON, Zcash and Binance Coin.
  • XM provides Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple CFDs.

Spreads and leverage

  • eToro's typical spreads are 3 for EUR/USD, 1 for UK100, 0.45 for Gold and 0.05 for US Oil.
  • 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 eToro is . Maximum leverage for XM (FCA or CySEC regulated) is .

Commissions

XM charges commission of $3.5 per lot per side on its XM Zero account, for Forex and Precious Metals.

Platforms

eToro offers a web trader, and apps on tablet and mobile. XM also provides MT4 and MT5 (available on desktop, tablet and mobile).

Comparison summary

  • eToro is a social trading network
  • It supports discretionary trading and trading automated via copy trading
  • eToro also allows the trader to inform their trading via the activity of other traders (via a social news feed and other information)
  • XM allows discretionary trading and supports automated trading via EAs (i.e. robots)
  • XM does not reject or requote orders
  • eToro offers somewhat more markets, though XM has a competitive number for an STP broker
  • eToro offers cryptocurrencies to own (they are not CFDs when going long)
  • Both are FCA, CySEC and ASIC regulated

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