NSFX vs XM Comparison

NSFX vs XM ECN Forex Broker Comparison

NSFX versus XM
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$300MT4, JForex60+MFSA
$5MT4, MT51000+FCA, ASIC, CySEC

NSFX and XM Comparison - Both brokers provide MT4, NSFX also offers JForex and XM also offers MT5

Both of these brokers support non-ECN trading. NSFX provides a fixed spread instant execution account on MT4. XM provides both a Micro and a Standard account, which have variable spreads, however these accounts use STP. NSFX also offers two ECN accounts, with low spreads and a commission charge. These require a higher minimum deposit, and offer either MT4, or for an even higher minimum deposit, JForex. XM provides an account with low spreads and a commission charge. However XM offers both MT4 and MT5. It also requires a higher minimum deposit for its XM Zero account, but this is lower than NSFX's minimum deposit requirements.

Neither broker offers a platform specifically for non-ECN trading, but both provide MT4. XM provides two ECN accounts one of which offers support for smaller trade sizes. Its non-ECN accounts have a very low minimum deposit. However while it has a higher minimum deposit, NSFX's non-ECN account does offer fixed spreads.

So both brokers provide MT4 for non-ECN accounts and ECN accounts but also offer JForex for ECN in the case of NSFX and MT5 in the case of XM. Like JForex, MT5 has features which can be useful in ECN trading, like Level II pricing. XM is regulated by the FCA in the United Kingdom, the ASIC in Australia and the CySEC in Cyprus. NSFX is regulated by the MFSA in Malta.

Quick comparison

NSFX is an ECN broker, offering MT4 and JForex. XM has a range of account types on MT4 and MT5, including STP/ECN. NSFX has a Classic account with fixed Forex spreads.

Minimum deposit and account types

The minimum deposit for NSFX is $300. The minimum deposit for XM is $5.

  • NSFX offers three account types. These are the MT4 Fixed, MT4 ECN and JForex accounts. The minimum deposit for the MT4 Fixed account is $300, the minimum deposit for the MT4 ECN account is $3,000 and the minimum deposit for the JForex account is $5,000.
  • The NSFX MT4 Fixed account does not charge commissions, the MT4 ECN and JForex accounts do. On its website NSFX provides Trading Central along with analysis, news and an economic calendar and the NSFX academy which includes an FX Video Course, Trading Examples and Guides and a Forex eBook. An Islamic account is available. Hedging at NSFX is allowed on all three account types but only on the MT4 ECN and JForex accounts are EAs enabled and scalping allowed.
  • 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. 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, terms and conditions apply. For clients who do not meet the conditions for a free VPS, it is available for a monthly fee of $28. XM also offers a personal account manager, video tutorials, daily technical analysis, Forex market research and daily Forex signals, market outlook and webinars.

Account currencies

Account currencies for NSFX are: GBP, USD and EUR. Account currencies for XM's Micro and Standard accounts are: USD, EUR, GBP, CHF,‎ AUD, HUF and PLN. For the XM Zero account, account currencies are: USD and EUR.

Markets

  • NSFX offers 60+, covering Forex pairs, Indices, Energy, and Precious Metals on the MT4 ECN and JForex accounts. On the MT4 Fixed account it offers Forex Major pairs.
  • XM offers 100+ on MT4, covering Forex pairs, Indices, Energy and Precious Metals and 1000+ on MT5 as it also has Cryptocurrency and Stocks CFDs. The XM Xero account has Forex pairs and Precious Metals, with 55+.
  • XM provides 60+ Forex pairs, NSFX provides 50+ Forex pairs.

Spreads and leverage

  • Spreads at NSFX are fixed for the MT4 Fixed account and are 3 for EUR/USD, 0.60 for Gold (XAU/USD), 3 for UK100 and 0.06 for US Crude Oil
  • NSFX offers variable ECN spreads for the MT4 ECN and JForex accounts, EUR/USD has an average spread of 0.4 (but can be seen as low as 0.1), Gold has an average spread of 0.09, UK100 has an average spread of 2 and US Crude Oil has an average spread of 0.05.
  • 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, EUR/USD has an average spread of 0.1 (but can reach a low of 0), GBP/USD has an average spread of 0.4 and AUD/USD has an average spread of 0.4. On the XM Zero account Gold has an average spread of 0.21.

Maximum leverage for NSFX is . Maximum leverage for XM (FCA or CySEC regulated) is .

Commissions

  • NSFX's MT4 ECN and JForex accounts charge commissions of $8 per lot round trip (equivalent to $4 per lot per side).
  • XM charges a commission of $3.5 per lot per side on the XM Zero account.

Platforms

Both brokers provide MT4. NSFX also offer JForex, XM also provides MT5. These platforms are available on desktop, tablet and mobile. Micro lot trading is allowed on all account types at NSFX and XM.

Comparison summary

  • Both brokers provide low spreads with a commission charge
  • NSFX offers two ECN accounts, one with MT4 and another with JForex
  • XM provides one ECN account, which can use MT4 or MT5
  • The minimum deposit to access ECN conditions is lower at XM
  • XM provides two non-ECN accounts, using STP and having variable spreads
  • NSFX offers an instant execution account with fixed spreads
  • The minimum deposit for XM is lower for its non-ECN accounts
  • XMis regulated by the FCA, the ASIC and the CySEC, NSFX is regulated by the MFSA

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