24Option vs XM - CFD Broker Comparison

24Option vs XM | Online Brokerage Comparison

24Option vs XM Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarketsRegulated
$250MT4, Web Trader & Apps130+CySEC, IFSC
$5MT4, MT5700+FCA, CySEC, ASIC

24Option vs XM Comparison

Both brokers offer MT4. XM also provides the successor to MT4, namely MT5. 24Option provides a web trader aimed at the human trader to help make the trading experience as straightforward as possible. On MT5, XM can offer considerably more markets, principally as it offer more Stocks CFDs to trade. Both brokers allow automated trading on MT4. XM has a Cent account which means it can offer very low trade sizes, thus it is possible to trade with a smaller account size (hence why it has a low minimum deposit). 24Option is regulated by the CySEC in Cyprus and the IFSC in Belize. XM is regulated by the FCA in the United Kingdom, the CySEC in Cyprus and the ASIC in Australia.

Quick comparison

Both brokers offer MT4. XM additionally provides MT5, while 24Option also offers a web trader (and apps). XM has a low minimum deposit.

Minimum deposit and key account features

The minimum deposit for 24Option is $/€/£250. The minimum deposit for XM is $5.

  • 24Option offers an Economic Calendar, Market Reports, Analysis and Videos on its website and Trading Central.
  • 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.
  • 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. The smallest trade size is 0.001 lots. XM also provides a personal account manager, video tutorials, daily technical analysis, Forex market research and daily Forex signals, market outlook and webinars.

Markets

  • 24Option offers Forex, Indices, Metals, Energy, Cryptocurrencies, Soft Commodities and Stocks, with 130+ available.
  • XM offers Forex, Indices, Metals, Energy, Cryptocurrencies, Soft Commodities and Stocks, with 700+ available on MT5. There are 100+ available on MT4, as it does not offer Stocks or Cryptocurrency CFDs. The XM Zero account has Forex, Gold and Silver, with 55+

Cryptocurrency CFDs

  • 24Option offers Bitcoin, Ethereum, Litecoin, Ripple and DASH.
  • XM offers Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash.

Leverage

Maximum leverage for 24Option (CySEC regulated) is . Maximum leverage for XM (FCA or CySEC regulated) is . Maximum leverage for XM (ASIC regulated) is 500:1.

Online trading platforms

Both provide MT4. XM also offers MT5. 24Option has a web trader (and apps), though XM also offers MT4 and MT5 web traders.

Why 24Option or XM ?

If a broker wishes to trade on MT4 then both brokers can be considered as they each offer this platform. However a trader looking for MT4's successor (MT5) needs to consider XM, as it offers this platform. A trader wanting to trade on a web trader can also consider either broker, as XM has MT4 and MT5 web traders and 24Option has a web trader and apps style trading platform. Those looking to trade with small account sizes can be aware that XM offers this facility with a Cent account and has a low minimum deposit.

Comparison summary

  • Both provide CFD trading
  • Each offers MT4
  • XM also provides MT5
  • 24Option has a web trader and apps platform
  • XM offers considerably more markets to trade, with 700+ on MT5

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