FOREX.com vs XM

FOREX.com vs XM

FOREX.com vs XM
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$50MT4, Advanced Platform, Web Trader300+FCA, ASIC, CFTC, IIROC, SFC, CIMA, FSA
$5MT4, MT51000+FCA, ASIC, CySEC

FOREX.com and XM Comparison

These brokers offer Forex and a range of other markets. They each have CFD trading. FOREX.com has a downloadable platform and a web trader. XM does not offer this kind of platform, rather provides MT4 and MT5 to be downloaded and web traders based on MT4 and MT5. FOREX.com also offers MT4. On MT4, both have a similar number of markets, however on MT5, XM has the most of either broker (1000+).

Both brokers are regulated by the FCA in the United Kingdom and the ASIC in Australia. FOREX.com is additionally regulated by the CFTX in the United States, the SFC in Hong Kong, the CFTC in the United States, the CIMA in the Cayman Islands and the FSA in Japan. XM is additionally regulated by the CySEC in Cyprus.

Quick comparison

XM is an STP no dealing desk broker offering STP trading and STP/ECN trading. Its STP/ECN account has less markets than its MT4 and MT5 accounts. XM has more markets on MT5 vs FOREX.com's Advanced Platform (1000+ vs 300+). FOREX.com's Advanced Platform supports discretionary trading.

Minimum deposit and account types

The minimum deposit for FOREX.com is $/€/£50. The minimum deposit for XM is £/$5, but for its XM Zero account it is £/$100.

  • FOREX.com offers Forex and CFD trading. The minimum trade size is 0.01 lots. It has an Economic Calendar, Market Research and a news feed on its platforms and a Trader Education course on its website.
  • XM offers three account types, a Micro and a Standard account (both STP), each with minimum deposits of $5 and the XM Zero account (STP/ECN), 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. 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 Advanced Platform, FOREX.com offers Forex, Indices, Energy, Soft Commodities, Metals, Cryptocurrencies and Stocks, with 300+ available.
  • On MT4, FOREX.com offers Forex, Indices, Energy, Soft Commodities and Metals, with 110+ available.
  • On MT4, XM offers Forex, Indices, Energy, Soft Commodities and Metals, with 100+ available.
  • On MT5, XM provides Forex, Indices, Energy, Soft Commodities, Metals, Stocks and Cryptocurrencies with 1000+ available.
  • On XM Zero, XM offers Forex and Precious Metals, with 55+ available.

Cryptocurrency CFDs

  • FOREX.com offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple.
  • XM offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple.

Spreads and leverage

  • Spreads at FOREX.com are variable or fixed depending on the market, with variable spreads from 1.4 for EUR/USD, a fixed spread of 1 for UK100, a typical variable spread of 0.61 for Gold and 0.04 for US Crude Oil.
  • Spreads at XM are variable. For the Standard and Micro accounts spreads are from 1 for EUR/USD, 1.5 for UK 100, 0.4 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. On the XM Zero account Gold has an average spread of 0.21.

The maximum leverage for FOREX.com (FCA regulated) is . The maximum leverage for XM (FCA or CySEC regulated) is .

Commission charge

  • FOREX.com does not charge commissions for trading Forex (only for Shares CFDs).
  • The XM Zero account charges commission of $3.5 per lot per side (for Forex and Precious Metals).

Platforms

FOREX.com offers the Advanced Platform, a web trader, MT4, an MT4 web trader and apps. XM offers MT4 and MT5, including MT4 and MT5 web traders.

Comparison summary

  • Both offer CFD trading
  • XM has STP NDD trading
  • FOREX.com offers a downloadable platform, a web trader and MT4
  • XM offers MT4 and MT5 and web traders based on these platform
  • XM has most markets on MT4, least on XM Zero
  • XM Zero is XM's STP/ECN account
  • Both support discretionary and automated trading
  • Both are FCA and ASIC regulated
  • XM has a lower minimum deposit on its Standard and Micro account
  • City Index has a higher minimum deposit compared with XM's XM Zero account

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