| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| FXTM | $10 Minimum Deposit | MT4, MT5 Trading Platforms | 1000+ Markets To Trade | FXTM offers a Micro (Cent) account, provides trading on MT4 and MT5 and offers copy trading on FXTM Invest About |
| XM | $5 Minimum Deposit | MT4, MT5 Trading Platforms | 1000+ Markets To Trade | XM offers its Micro (Cent) account with a low minimum deposit of $5 and provides both MT4 and MT5 About |
FXTM and XM Comparison
These brokers each offer MetaTrader 4 (MT4) and MetaTrader 5 (MT5). MT5 is the successor to MT4. Each allows the trader to use automated trading with online trading robots (EAs).
On MT5, XM has more markets to trade than FXTM. Each provides Cent type accounts (in both cases called a Micro account), which allow the trader to trade with very low trade sizes, thus enabling a trader to potentially trade with a low account size, and indeed each has a very low minimum deposit.
Both FXTM and XM are regulated by the CySEC in Cyprus. FXTM is additionally regulated by the FCA in the United Kingdom and the FSC in Mauritius and is licensed by the FSCA in South Africa. XM is additionally regulated by the ASIC in Australia and the IFSC in Belize.
Quick comparison
Both offer a range of account types, including Cent type accounts. Each has MT4 and MT5. XM can offer more markets to trade.
Minimum deposit and account types
The minimum deposit for FXTM is $10 ($50 in the EEA). The minimum deposit for XM is $5.
- FXTM offers three account types: Micro, Advantage and Advantage Plus. The minimum deposit for the Micro account is $10 (this account is for MT4 only). The minimum deposit for the Advantage and Advantage Plus account is $500. The Micro account is a Cent type account with low minimum trade sizes. The Advantage account offers spreads from 0 plus a commission charge. The Micro and the Advantage Plus accounts offer spreads from 1.5 without a commission charge. FXTM provides Market Analysis Videos and Podcasts, a Forex News Timeline, Education, Market Outlook and an Economic Calendar. Copy trading is provided via FXTM Invest. The minimum trade size is 0.0001 lots.
- 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
- FXTM offers Forex, Metals, Energy, Indices and Stocks, with 1000+ available.
- XM offers Forex, Metals, Energy, Indices, Stocks and Cryptocurrencies, with 1000+ available.
| Broker | Trading Platform | Description |
|---|---|---|
| XM Broker | MT4, MT5 Trading Platforms | XM offers a range of account types including Cent (called Micro) and provides MT4 and MT5 with 1000+ markets to trade and has a minimum deposit of $5 Description |
| FXTM Broker | MT4, MT5 Trading Platforms | FXTM offers a range of account types including Cent (called Micro) and provides MT4 and MT5, with a minimum deposit of $10 (for MT4) and 250+ market to trade Description |
Spreads and leverage
On FXTM's Advantage Plus and Micro accounts, Forex spreads are from 1.5 without a commission charge. On FXTM's Advantage account, Forex spreads are from 0 plus commission. On XM's Ultra Low account, Forex spreads are from 0.6. On the XM Zero account, Forex spreads are from 0 plus a commission charge.
Maximum leverage for FXTM (FCA or CySEC regulated) is . Maximum leverage for XM (CySEC regulated) is .
Commissions
- FXTM charges a commission from $0.40-$2 per lot per side, depending on the equity in the account and the volume traded. The commission is charged for the Advantage account.
- XM charges a commission of $3.5 per lot per side on the XM Zero account. Commissions are charged only on the XM Zero account and therefore only for Forex pairs, Gold and Silver.
Online trading platforms
Both brokers offer MT4 and MT5, which are available on desktop, mobile and tablet.
FXTM and XM offer micro lot trading (0.01 lots) and allow smaller trade sizes down to 0.0001 lots on their Cent type accounts.
Why FXTM or XM ?
Traders who want to trade on MT4 or MT5 may do so at either. Those who want to trade on a Cent account for MT4, can find the Micro account at FXTM. Traders who want a Cent type account for MT4 and MT5, can find this at XM (with a $5 minimum deposit). Traders who want to trade using EA robots may do so at both. Those who want to copy trade can do so on FXTM Invest.
Comparison summary
- Both brokers offer CFD trading
- Each provides a Cent type account, with very low trade sizes
- XM has a lower minimum deposit ($5 vs $10)
- Each provides both MT4 and MT5
- XM offers the Micro (Cent) account for both MT4 and MT5
- FXTM provides copy trading on FXTM Invest
