Compare FXOpen vs XM

Compare FXOpen vs XM

FXOpen vs XM
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$300MT465+FCA, ASIC, FSRC
$5MT4, MT5700+FCA, ASIC, CySEC

FXOpen vs XM Comparison - ECN brokers with STP trading as well

The brokers can each offer an account with very low spreads plus a commission charge. They also provide STP trading, without a commission charge. These are no dealing desk brokers and do not restrict trading styles.

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 FCA, the ASIC and in Cyprus by the CySEC.

ECN conditions

These are each no dealing desk and neither restricts trading styles, thus news trading, scalping and automated trading is allowed.

Quick comparison

FXOpen is an MT4 ECN broker, while XM has a range of account types, including STP/ECN. 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 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

  • 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 700+ 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. 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 FXOpen (FCA regulated) is . Maximum leverage for XM (FCA or 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.

Comparison summary

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

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