Compare IronFX vs XM - Online Brokerage Comparison

Compare IronFX vs XM

IronFX vs XM Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$200MT4200+FCA, ASIC, CySEC
$5MT4, MT5700+FCA, ASIC, CySEC, FSCA

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 real account, 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 is STP/ECN. 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 FCA in the United Kingdom, the ASIC in Australia and the CySEC in Cyprus. IronFX is additionally regulated by the FSCA in South Africa.

ECN conditions

Both brokers offers STP/ECN trading.

Quick comparison

Each brokers provides a range of account types, including STP/ECN on 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 manger, 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 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

  • 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 700+ 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 (FCA or 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. 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.

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.

Platform

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 ?

Both of these brokers offer MT4 trading and a range of account types, including STP/ECN. XM also provides MT5, with an expanded number of markets.

Comparison summary

  • Each offers STP/ECN trading
  • IronFX has a range of STP/ECN accounts
  • Both also offers non-ECN trading, with Forex spreads without a commission charge
  • For STP/ECN trading, they have the same minimum deposit, otherwise, XM's is lower
  • Each has variable spreads, IronFX also has fixed spreads
  • Both have several hundred markets to trade, XM has more on MT5, IronFX has more on MT4
  • Each has a similar range of types of markets available
  • Both provide MT4
  • XM also offers MT5
  • These brokers are each regulated by the FCA, the ASIC and the CySEC

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