IronFX vs XM Comparison Table
| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| IronFX | $50 Minimum Deposit | MT4 Trading Platform | 200+ Markets To Trade | IronFX offers trading on MT4 with a wide range of account types including fixed Forex spreads and has social and copy trading About |
| XM | $5 Minimum Deposit | MT4, MT5 Trading Platforms | 1000+ Markets To Trade | XM offers trading on MT4 and MT5 and has a Micro (cent) account with a low minimum deposit of $5 About |
IronFX and XM Comparison
Both IronFX and XM have MT4, allowing automated trading with EA robots. XM additionally provides MT5 (the successor to MT4). Each has a Cent account with low minimum trade sizes, however XM offers the lower minimum deposit ($5 vs $50).
Quick comparison
Each brokers provides MT4. XM also offers MT5, on which it can provide more markets to trade.
Minimum deposit and account types
The minimum deposit for IronFX is $50. The minimum deposit for XM is $5.
- IronFX offers a range of account types and services. These include a Standard account which has a minimum deposit of $50, 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. There is additionally a Cent account, which offers small trade sizes and has a minimum deposit of $50. Social and copy trading is provided via Myfxbook AutoTrade and TradeCopier. The minimum trade size is 0.01 lots except for the Premium and VIP accounts where it is 0.1 lots and the Cent account where it is 0.0001 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 accounts, 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, the Micro, Standard and XM Zero accounts, all with minimum deposits of $5. 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.
XM vs IronFX Summary Table
| Broker | Trading Platforms | Description |
|---|---|---|
| XM Broker | MT4, MT5 Trading Platforms | XM offers trading on MT4 and MT5 allowing automated trading and provides a Micro (cent) account with a $5 minimum deposit Description |
| IronFX Broker | MT4 Trading Platforms | IronFX provides trading on MT4 with a wide range of account types, including fixed spreads and Cent and provides social and copy trading platforms Description |
Cryptocurrency CFDs
- IronFX offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Cardano, EOS, Dogecoin, Polkadot, Stellar, Uniswap, Iota, Ethereum Classic, Solana, Tron, OmiseGO, Internet Computer Protocol and IOST CFDs.
- XM offers Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash CFDs.
Leverage and spreads
Maximum leverage for IronFX Bermuda is 1000:1. Maximum leverage for XM (IFSC regulated) is 888:1.
- Both brokers offer Forex spreads from 0 plus a commission charge. IronFX offers Forex spreads from 0 without a commission charge. XM offers Forex spreads from 0.6 without a commission charge.
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 can do so at either IronFX or XM. Those who want to trade on a Cent account can do so at either, however XM has a lower minimum deposit ($5). Traders who want to trade on MT5 (the successor to MT4) can do so at XM. Traders who want to social and copy trade can do this at IronFX.
Comparison summary
- Both provide CFD trading
- Each offers MT4
- XM additionally provides MT5
- Both allow the use of Expert Advisors (EAs)
- XM has a lower minimum deposit ($5)
- IronFX provides social and copy trading platforms
- XM offer more markets overall, on MT5
