Compare IronFX vs XM - Online Brokerage Comparison

Compare IronFX vs XM

IronFX vs XM Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$200MT4200+FCA, ASIC, CySEC, FSCA
$5MT4, MT51000+ASIC, CySEC, IFSC

IronFX and XM Comparison

Both of these brokers have a range of account types. IronFX divides its accounts into ECN and Live accounts. Its Live accounts have instant execution (i.e. no slippage but may requote), while its STP/ECN accounts have market execution (will not requote, may have slippage). IronFX offers spread type and commission charge variations around these execution types and for its Live account offers Micro, Premium and VIP versions.

XM has three account types, which are all STP market execution, are no dealing desk, and do not requote. However one of its accounts can offer low spreads plus a commission charge (the XM Zero account). Two of IronFX's real accounts have fixed spreads (one without a commission charge, one with), while the rest are variable, as are XM's.

Both brokers offer MT4, while XM additionally provides MT4. On MT5, XM can provide more markets to trade than XM. XM offers Stocks CFDs on MT5, while IronFX offers them on MT5.

IronFX and XM are both regulated by the ASIC in Australia and the CySEC in Cyprus. IronFX is additionally regulated by the FSCA in South Africa. XM is additionally regulated by the IFSC in Belize.

ECN conditions

Both brokers allow scalping, hedging and EAs.

Quick comparison

Each brokers provides MT4. XM also offers MT5, on which it can provide more markets to trade, though IronFX has more on MT4.

Minimum deposit and account types

The minimum deposit for IronFX is $100, but for STP/ECN trading it is $500. The minimum deposit for XM is $5, but for ECN trading it is $100.

  • IronFX offers a range of account types and services. These include a Micro account which has a minimum deposit of $100, a Premium account with a minimum deposit of $2,500 and a VIP account with a minimum deposit of $20,000. These three account types are available with fixed or variable spreads and the spreads can be tighter on higher account types. The minimum trade size is 0.01 lots except for the Premium and VIP accounts where it is 0.1 lots.
  • IronFX also offers a Zero Fixed Spread account. This provides zero spreads for some markets, with commissions charged. As well, IronFX offers STP/ECN accounts with or without commissions. It also has an STP/ECN Absolute Zero account, with spreads from zero, with no commission charge. For the Zero Fixed Spread account and the STP/ECN account, the minimum deposit is $500. The minimum deposit for the Absolute Zero account is upon request to the account manager.
  • All IronFX accounts offer a dedicated account manager, technical analysis reports, investor education tools and private one-on-one trading guidance. The Premium, VIP, STP/ECN No Commission and STP/ECN Zero Spread accounts also offer a dealing department transaction hotline.
  • 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

  • IronFX offers Forex, Indices, Energy, Soft Commodities, Cryptocurrencies, Metals and Stocks, with 200+ available.
  • XM offers Forex, Indices, Energy, Soft Commodities, Cryptocurrencies, Metals and Stocks, with 1000+ available on MT5, there are 100+ available on MT4, as it does not offer Stocks or Cryptocurrency CFDs.

IronFX has more Currency Pairs available, with 120+ available versus 60+ at XM.

Cryptocurrency CFDs

  • IronFX offers Bitcoin, Ethereum, Litecoin, Ripple and ADA.
  • XM offers Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash.

Leverage and spreads

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

  • IronFX's Micro account has a EUR/USD variable spread from 1.1 and a fixed spread from 2.2. The Premium account has a EUR/USD variable spread from 0.7 and a fixed spread from 1.8. The VIP account has a variable EUR/USD spread from 0.5 and a fixed spread from 1.6.
  • IronFX's Live Zero Fixed spread account has an EUR/USD spread of 0 (plus a commission charge). The ECN No Commission account has a variable EUR/USD spread from 1.7 and the ECN account with a commission charge has an EUR/USD spread from 0. The ECN Absolute Zero account has EUR/USD spreads from 0, without a commission charge. Gold spreads are from 0.5, UK100 spreads are from 0.8 and US Crude Oil spreads are from 0.04.
  • 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.

Commission charge

  • IronFX's commission charges are from $6.75 per lot per side.
  • The XM Zero account charges commission of $3.5 per lot per side.

Online trading platforms

Both brokers offer MT4, desktop and apps. IronFX also offers a web trader based on MT4. XM also provides MT5 desktop, apps and MT4 and MT5 based web traders.

Why IronFX or XM ?

Traders who want to trade on MT4 may do so at either broker. Traders who want to trade on the successor to MT4, MT5 can find this platform at XM. Both brokers allow the trader to use EAs, MetaTrader's online trading robots. XM has a cent account which lets the trader trade with very small trade sizes. XM has more markets overall, on MT5.

Comparison summary

  • Both brokers offer MT4
  • XM additionally provides MT5
  • Both brokers allow the use of Expert Advisors (EAs)
  • XM has a lower minimum deposit
  • XM offer more markets overall, on MT5

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