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XM vs Forex.com
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Updated:
Compare XM vs Forex.com Side by Side
Selecting between XM vs Forex.com and would like to see who is a better Broker for your trading strategy? We made a detailed comparison between XM Review and Forex.com Review, comparing safety and licenses, trading conditions with fees, trading platforms, instruments, deposit & withdrawal conditions, and all the essential details side by side.
Summary
| Feature | XM | Forex.com |
|---|---|---|
| Website | //xm.com | //www.forex.com |
| Founded year | 2009 | 1999 |
| Headquarter | Cyprus, Australia, Belize | USA |
| Licenses | Cyprus, Australia, Belize, UAE | USA, UK, Australia, Japan, Singapore, Canada, Cayman Islands, Cyprus |
| Minimum Deposit | 5 US$ | US$ 100 |
| Trading Platforms | MT4, MT5, XM WebTrader | MT4, MT5, FOREX.com Platforms |
| Eurusd avg Spread | 1.6 pips | 1.3 pips |
Licenses
| Feature | XM | Forex.com |
|---|---|---|
| Licenses Countries Info (short) |
|
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Both brokerage firms are subject to rigorous regulatory scrutiny by financial authorities in both Australia and the European Union, ensuring strict adherence to MiFID principles. Moreover, Forex.com is authorized to offer services to clients in Canada and the United States. Additionally, they maintain international entities to cater to traders on a worldwide scale.
Broker Types
| Feature | XM | Forex.com |
|---|---|---|
| Broker types |
|
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XM presents itself as a hybrid brokerage firm that utilizes ECN/STP execution models to prioritize efficiency and transparency in trading. Conversely, Forex.com employs both STP and DMA methods to enhance liquidity and offer competitive pricing tailored to the specific trading instrument. Both platforms provide tailored solutions to accommodate a variety of trading preferences and strategies.
Trading Conditions
| Feature | XM | Forex.com |
|---|---|---|
| Trading Conditions |
|
|
When comparing XM and Forex.com’s trading conditions, they share comparable features, rendering them suitable for beginners and granting access to a range of trading strategies with low spreads and commissions. Both also offer high leverage, enabling traders to amplify their exposure with a modest initial deposit. Furthermore, both brokers provide access to an array of trading tools, including Expert Advisors (EAs) and robots, elevating the trading experience and meeting the diverse needs of traders.
Fees & Commissions
| Fees & Commissions | XM | Forex.com |
|---|---|---|
| Inactivity Feemonth | 15 $ | 15$ |
| Deposit fee | 0 $ | 0$ |
| Withdrawal fee | 0 $ | 0$ |
| Rollover fee eurusd buy 1 lot | -0.083 | -2.5% |
| Rollover fee eurusd sell 1 lot | -0.543 | 2.5% |
| Avg Eurusd standard acc | 1.6 pips | 1.3 pips |
| Gold | 35 | 0.4 |
| Brent oil | 5 pips | 5 |
| Bitcoin | 60 | 35 |
While both brokers abstain from charging deposit and withdrawal fees, they do levy an inactivity fee. Moreover, both brokers boast spreads that are significantly more competitive than the industry norm.
Account Types
| Feature | XM | Forex.com |
|---|---|---|
| Account types |
|
|
XM and Forex.com offer an array of trading account choices designed to suit a range of trading styles. This encompasses Standard accounts as well as the option to trade micro lots, which are especially beneficial for novice traders looking for exposure without substantial risk. Additionally, both brokers provide Islamic accounts, specifically crafted to meet the requirements of traders who adhere to Sharia Laws.
Markets & Instruments
| Markets & Instruments | XM | Forex.com |
|---|---|---|
| Forex | 55 | 84 |
| Indices | 28 | 17 |
| Commodities | 15 | 29 |
| Cryptocurrencies | 60 | 4 |
| Shares | 600 | 4000+ |
| Bonds | ❌ | ✔️ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | ❌ | ✔️ |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | ❌ |
| Etfs | ❌ | ❌ |
Both brokers offer a similar array of market offerings, encompassing a limited range of instruments. However, Forex.com distinguishes itself by offering access to additional asset classes, including Spread Betting and Bonds, providing traders with a broader spectrum of investment opportunities.
Trading Platforms
| Feature | XM | Forex.com |
|---|---|---|
| Platforms |
|
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XM provides the industry-favored MT4 platform alongside its more advanced counterpart, MT5. In addition, they offer exclusive proprietary platforms designed to cater to the distinct needs of their traders. Forex.com, on the other hand, offers its clients a diverse range of trading platforms, including MetaTrader 4, MetaTrader 5, WebTrader, and a customized platform specifically crafted for its users.
Deposit & Withdrawal Methods
| Feature | XM | Forex.com |
|---|---|---|
| Payment methods |
|
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The range of deposit methods is also similar, allowing traders to fund their accounts using credit/debit cards, bank wire transfers, and various e-wallet options. However, XM boasts a more extensive selection of e-wallets, providing a broader range of choices for its users.
Others
| Feature | XM | Forex.com |
|---|---|---|
| Others |
|
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Both brokers excel in customer support, providing round-the-clock assistance through email, live chat, and telephone. Regarding education, the brokers are renowned for delivering valuable educational resources tailored to traders of various proficiency levels, including webinars and video tutorials. Additionally, XM distinguishes itself by offering in-person seminars as part of its educational offerings.
Conclusion on Forex.com vs XM
In summary, after our comprehensive comparison of XM and Forex.com, it’s evident that both brokers have earned a strong reputation and maintain rigorous regulatory compliance. They offer similar trading conditions, a range of account options, and a variety of platform choices, although their selection of instruments is somewhat limited. Notably, Forex.com distinguishes itself by granting access to Bonds and Spread Betting.
On the other hand, XM stands out for its exceptional conditions for novice traders, coupled with an extensive array of educational resources. Here is our final recommendation:
- XM – 🥇Best Brokers for CFD Trading for bringing opportunity to trade using advanced technical solutions
- Forex.com – 🥇Best Raw Spread Broker suitable for beginners giving access to a good range of trading instruments with competitive trading conditions
