FOREX.com vs XM - Online Brokerage Comparison

FOREX.com vs XM

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

FOREX.com and XM Comparison

FOREX.com provides MT4, its user friendly Web Trader and its Advanced Trading Platform, with programmable chart signals. XM offers MT4 and MT5 (the successor to MT4). On MT5, XM has more markets to trade overall.

Both brokers support automated and non-automated trading. XM lets the trader trade with very small trade sizes and has a very low minimum deposit.

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

Quick comparison

Both brokers offer MT4 and allow EAs. XM has more markets on MT5 vs FOREX.com's Advanced Trading Platform (1000+ vs 300+). FOREX.com additionally provides a user friendly web trader.

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 CFD trading. The minimum trade size is 0.01 lots. It has an Economic Calendar, Market Research and a news feed on its platforms, offers Autochartist and Trading Central and has a Trader Education course on its website.
  • 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.
  • 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

  • FOREX.com offers Forex, Indices, Energy, Metals, Soft Commodities, Cryptocurrencies and Stocks, with 300+ available.
  • XM provides Forex, Indices, Energy, Metals, Soft Commodities, Cryptocurrencies and Stocks, with 1000+ 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

FOREX.com provides Forex spreads from 0.8 without a commission charge. XM offers Forex spreads from 1 without a commission charge (Standard), from 0.6 without a commission charge (Ultra Low) and from 0 with a commission charge (XM Zero).

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 Trading Platform, a web trader, MT4 and apps. XM offers MT4. MT5 and apps.

Why FOREX.com or XM ?

Traders who wish to trade using Expert Advisors (EAs) on MT4 may do so at either broker. Traders who wish to use the successor to MT4, MetaTrader 5 (MT5) may do so at XM. Traders who want to execute their own trades on a user friendly web trader can do so at FOREX.com. Both brokers offers Stocks CFDs, though XM has more on the MT5 platform. XM offers a lower minimum deposit and a lower minimum trade size. FOREX.com provides its Advanced Trading Platform, which lets the trader build and use chart based trading signals. Traders who want to trade with trade sizes smaller than 0.01 standard lots, can find a Micro (cent) account at XM.

Comparison summary

  • Both offer CFD 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 MT5
  • Both allow automated trading with Expert Advisors (EAs)
  • FOREX.com offers a user friendly web trader
  • XM has a lower minimum deposit on its Standard and Micro account
  • FOREX.com's Advanced Trading Platform offers programmable charting signals
  • XM has a Micro (cent) account with very small trade sizes

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