Compare FXOpen vs XM

Compare FXOpen vs XM

FXOpen vs XM Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$300MT465+FCA, ASIC, FSRC
$5MT4, MT51000+ASIC, CySEC, IFSC

FXOpen vs XM Comparison

FXOpen offers ECN trading on a core group of markets. XM has a range of account types including a cent account, with very low trade sizes. XM CySEC regulated offers the XM Zero account, which can have low spreads plus a commission charge.

Each offers MT4, while XM also provides MT5, where it offers an expanded range of markets, including Stocks CFDs.

FXOpen is regulated by the FCA in the United Kingdom, the ASIC in Australia and the FSRC in Nevis. XM is regulated by the CySEC in Cyprus, the ASIC in Australia and the IFSC in Belize.

ECN conditions

Both have accounts which can offer low spreads plus a commission charge. Each allows scalping, news trading and EAs.

Quick comparison

FXOpen is an MT4 ECN broker, while XM has a range of account types, including a cent account. As well as MT4, XM also has MT5, and can offer considerably more markets on this.

Minimum deposit and account types

The minimum deposit for FXOpen is €/$300 or £200. The minimum deposit for XM is $5, but for ECN trading it is $100.

  • FXOpen offers three accounts types, ECN, STP and Crypto. The ECN account charges commissions on its markets, the STP does not charge commissions. The ECN account has a wider range of market available. The Crypto account is an STP account which additionally offers a range of Cryptocurrencies (which have a commission charge). The minimum trade size is 0.01 lots. Market news and analysis are available via RSS and an economic calendar is provided on FXOpen's website.
  • XM CySEC regulated 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 account type. The Micro and Standard accounts do not charge commissions, the XM Zero account does charge commissions. The Micro and Standard accounts differ in terms of order sizes available. The minimum trade size is 0.0001 lots.
  • XM ASIC regulated offers the XM Ultra Low account instead of the XM Zero account. XM IFSC regulated offers the Micro, Standard and Ultra Low accounts and a Shares account (with real Shares to own). The minimum deposit for the Ultra Low account is $50. The minimum deposit for the Shares account is $10,000.
  • XM offers an economic calendar, a personal account manager, video tutorials, daily technical analysis, Forex market research and daily Forex signals, trading tools, market outlook and webinars. XM allows EAs, hedging and scalping.

Markets

  • On the ECN account, FXOpen offers Forex, Indices, Energy and Precious Metals, with 65+ available.
  • On the STP account, FXOpen provides Forex and Precious Metals, for a total of 50+.
  • On the Crypto account, FXOpen offers Forex, Precious Metals and Cryptocurrencies, for a total of 55+.
  • XM offers Forex, Indices, Energy, Cryptocurrencies, Metals, Soft Commodities and Stocks, with 1000+ available on MT5, there are 100+ available on MT4, as it does not offer Stocks or Cryptocurrency CFDs.

FXOpen provides 45+ Forex pairs, XM provides 60+ Forex pairs.

Cryptocurrency CFDs

  • FXOpen offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, Dash, NEO, OMNI, Monero, IOTA, EOS, Ethereum Classic, Namecoin, Peercoin and Emercoin.
  • XM offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple.

Spreads and leverage

  • Spreads at FXOpen are variable and are from 0.0 for EUR/USD, 0.0 for UK 100, 0.0 for Gold and 0.0 for US Crude Oil (all plus commission). The STP account has higher spreads.
  • 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. The Ultra Low account has EUR/USD spreads from 0.6.
  • 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 FXOpen (FCA regulated) is . Maximum leverage for XM (CySEC regulated) is .

Commissions

  • For Forex, FXOpen charges a commission, which depends on volume traded, from $1.5 - $5 per standard lot per side. Other instruments have differing commission charges.
  • The XM Zero account charges commission of $3.5 per lot per side.

Platforms

FXOpen offers MT4 desktop, MT4 apps and an MT4 based web trader. XM provides MT4 and MT5 desktop, MT4 and MT5 apps and MT4 and MT5 based web traders.

Why FXOpen or XM ?

Traders who wish to trade on MT4 may do so at either broker. Traders who wish to trade on MT4, the successor to MT4, can find this platform at XM. On MT5 XM has considerably more markets to trade than FXOpen, though FXOpen is an ECN broker. This said, at CySEC regulated XM, traders may trade on the XM Zero account which can offer low spreads plus a commission charge.

Comparison summary

  • Both provide Forex trading with or without a commission charge
  • Each offers micro lot trading
  • XM provides a cent account with smaller trade sizes
  • XM can offer Stocks CFDs and can offer more markets to trade
  • FXOpen has a competitive number of markets for an ECN broker
  • Both offer MT4
  • XM additionally provides MT5

Search this site

Translate