XM is a forex broker based in London, UK providing clients with a range of trading tools. This broker offers their clients a chance of choosing to trade Forex and CFDs i.e. contract for difference on commodities, stocks, stock indices, energies and metals from one trading account. The range of trading tools from one multi asset platform provided by this broker make their clients have an easier and efficient encounter when trading with them. Though most of the activities of this broker are conducted in London, XM also has roots in different locations around the world.
Forex.com provides a range of choices for CFDs and Forex to their different clients based in different parts of the globe across its worldwide based regulated offerings. The broker owns full-feature trading platforms, diverse trading instruments, and comprehensive research that ensure their clients are having an easy encounter when trading with them.
Both XM and Forex.com are reputable brokers and therefore utilizing their services can make you reap huge returns as a trader using their platforms. However, whether you collaborate with XM or Forex.com, as a trader you should know that the possibilities of earning massive returns are same as those of suffering huge losses. Therefore, if you opt to start you online trading journey, it is vital you take your time and research appropriately so that you can become well informed about how the monetary market operates.
By executing a great research about the monetary market, you will not only become more knowledgeable about the basics one needs to know in order to become a successful trader, but you will likely discover your personal tips which will help you manage to maximize returns and minimize losses when participating in online trading. Here are several facts about Forex.com and XM that can help you determine between the two brokers who is the right option for your online trading needs as a trader:
Forex.com vs XM
General Overview of XM and Forex.com
XM and Forex.com like most of the other brokers you will find in the financial market are regulated also in a paramount hub. Though the prime goal of both of these brokers is to give their respective clients great services that will enable them trade successfully in an effective and efficient manner, the total number of currency pairs accessible to trade offered by these brokers is not the same. Forex.com provides 27 more currency pairs than what XM offers to its clients, with the former providing 84 currency pairs while the latter 57 currency pairs.
- Methods of Payment
XM accepts Local Payment techniques which are most commonly utilized currently including Debit/Credit Card, Bank Wire Transfer, Skrill, and Neteller among others. The broker covers all withdrawal and deposit transfer charges for payments which are made via Skrill Moneybookers, Neteller as well as all the major credit cards including China UnionPay, Maestro, MasterCard, VISA, and Visa Electron. Additionally, with XM all withdraws and deposits about $200 that are processed through wire transfer also are included in the broker’s zero fees policy.
Forex.com has few methods of payment as it allows only Bank Wire and Check. The broker accepts only USD, CHF, CAD, GBP, EUR, AUD, NZD, and YEN deposits.
XM Broker regulated by ASIC in Australia, CySEC in Cyprus, IFSC in Belize and FCA in UK.
Forex.com regulated by FCA in United Kingdom, ASIC in Australia, CFTC and NFA in USA, IIROC in Canada and FSA in Japan
- Trading Platforms
Forex.com provides its customers two basic trading platforms i.e. MetaTrader4 and FOREXTrader. In addition to these trading platforms, the broker supports also Tradable and its notable ECN platform, GTX.
XM provides its clients both MetaQuotes;s platforms i.e. the MetaTrader5 and MetaTrader4. The trader offers also MT4 MultiTerminal that is intended to provide a convenient and practical method for simultaneously managing multiple accounts from one interface.
Despite Forex.com and XM having different trading platforms, both of these brokers’ platforms are flexible and easier to navigate. These brokers also provide professional charting and order management instruments that are very reliable.
Pros of Choosing XM as your Broker
- XM is well-regulated as this broker is equipped with ASIC, CySEC and FCA licenses
- Negative balance protection
- Low cost of trading on its Zero account
- Fast execution speed
Pros of Collaborating with Forex.com as a Trader
- A reputable broker that is well-controlled
- Fast execution speed
- Commission-free trading
Simple Forex.com vs XM Comparison Table
Min Deposit: $5
Spread: From 0 Pips
Regulation: ASIC, CySEC, FCA (UK), IFSC Belize
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Min Deposit: $50
Spread: Starting 0 Pips
Leverage: up to 400:1
Regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA
Based on the aforementioned facts it is now obvious that Forex.com and XM are very different brokers since they have varying terms and conditions of operation. However, whether you will choose to collaborate with XM or Forex.com, make sure you trade responsibly and always avoid blunders which can make you suffer enormous losses when participating in online trading.
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