XM vs Forex.Com Compared 2024: Features, Pros, Cons, and More!

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Forex traders always wish to trade with trusted and reliable forex brokers. XM and Forex.com are top-tier regulated forex brokers offering online trading services globally. XM is regulated in two Tier-1, one tier-2, and one tier-4 jurisdictions, including the two tier-1, two tier-2, and one tier-4 jurisdictions, including the ASIC, CySEC, FSCA, FSC-Belize, and DFSA. On the other hand, Forex.com is regulated in six Tier-1 jurisdictions including ASIC, FCA, JFSA, NFA, IIROC, and MAS. These two brokers offer almost similar services. However, each broker has its strengths and weaknesses.

In this article, we will compare XM with Forex.com regarding trading pros and cons,  trading platforms, regulations, tradable assets, fees, customer support, and overall trading experience score. We will also explore if XM is better than Forex.com and vice versa. This comparison lets you understand which broker is better for your trading style and preferences

XM vs Forex.Com: In a Nutshell

XM:

XM is a multiple award-winning broker that allows its clients to trade forex, CFDs, and real stocks on its MetaTrader platforms. Founded in 2009, XM has over 1000 trading instruments and multiple account types which are designed for newbies, and experienced and professional traders. Trading tools are also provided to assist the traders with market analyses. 

XM Overview
  • Founded In: 2009
  • Trading Instruments: 1000+ trading instruments including forex, cryptocurrencies, stock CFDs turbo stocks, commodities, equity indices, thematic indices, precious metals, energies, shares
  • Minimum Deposit: $5 for Micro, Standard, Ultra low accounts, and $10,000 for share accounts
  • Maximum Leverage: up1000:1 for Standard, Micro, and Ultra-low accounts, No leverage for share account
  • Regulations: FSC, ASIC, CySEC, DFSA, FSCA
  • Trading platform: MT4, MT5, XM trading apps 
  • Spreads: As low as 0.6pips 
  • Account Types: Standard, Micro, Ultra-low, Share  accounts
  • Trading Styles: Allows all trading styles including scalping, news trading, copy trading, EA trading
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, MasterCard, Neteller, Skrill
  • Funding Currencies: USD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, SGD, ZAR
  • US Traders: Not Accepted

Forex.Com:

Founded in 2001, Forex.com is a leading online forex and CFD broker that provides access to a wide range of trading instruments. It is a well-established and regulated forex broker that offers MT4, MT5, and Tradingview platforms for US residents and traders from other countries. , Forex.com is known for its competitive pricing, advanced trading technology, and comprehensive research and analysis tools. It offers over 80 currency pairs, stocks, ETFs, gold, and silver for your personal investment and trading options. Gain capital operates this trading platform.

Forex.com Overview
  • Founded In: 2001
  • Minimum Deposit: $50
  • Maximum Leverage: 50:1
  • Regulations:CySEC, FCA , KNF , IFSC
  • Trading platform:Mobile App, Web Trader, Meta Trader 5
  • Account Types: 
  • Payment Options:Bank Wire (BankTransfer/SWIFT), VISA, ACH Payments (echeck)
  • US Traders: Accepted

XM vs Forex.Com: Pros and Cons

XM:

Pros
  • Regulated by CySEC, ASIC, DFSA in UAE, and FSC Belize.
  • Easy and fast account opening
  • Minimum deposit is $5
  • Over 1000 forex/CFDs are available for trading.
  • MT4 and MT5 are the available trading platforms.
  • Quality research, market analysis, and access to trading tools like Autochartist.
  • Quality training for newbies and ‘ultra-low micro account’ for beginners.
  • High leverage up to 1000:1 (this leverage is not available to all the entities of the Group)
Cons
  • Dormant fees are charged after 3 months of no account activity.
  • Trading of real stocks is not available to European traders.
  • Traders have no other choice apart from the MetaTrader platforms.
  • Limited tradable assets.
  • No passive investment services (social trading platform, PAMM accounts);
  • Funding with PayPal is unavailable

Forex.Com:

Pros
  • Regulated by NFA, FCA, ASIC, CySEC,  IIROC, FSA, CIMA, MAS, 
  • Top-rated forex and CFD broker in the USA 
  • Free demo account for prospective traders
  • Crypto Trading available on MT5 Trading Platforms 
  • Offers protection for U.K./E.U. client accounts
  • VPS hosting for automated strategies
  • Offers MAM account for passive investors 
  • Low forex fees, no FX commissions
Cons
  •  You can not deposit less than $100
  •  Maximum leverage is 1:50
  • No account protection for U.S. clients
  • An inactivity fee applied after 12 months of no account activity
  • Non-user-friendly desktop platform
  • Cannot buy and sell other securities (like stocks and bonds)
  •  

XM vs Forex.Com: Side-by-Side Comparison

XM
Forex.com
Product
Founded In
Founded In
2009
2001
Founded By
Founded By
Constantinos Cleanthous
GAIN Capita
Headquarters
Headquarters
Limassol, Cyprus
New Jersey,United States
Regulations
Regulations
ASIC, CySec , FSC , DFSA, FSCA
NFA , CFTC
Min Deposit
Min Deposit
$5
$100
Max Leverage
Max Leverage
1000:1
50:1
Tradable Assets
Tradable Assets
Forex , Commodities, Stock ,Indices , Crypto , Turbo Stocks Equity indices , Precious Metals , Energies
Forex, Indices, Stocks , Cryptocurrency, Commodities , Gold and Silver
Fees
Fees
Spreads as low as 0.6 pips
Spread from
Platforms and Tools
Platforms and Tools
MT4, MT5, Webtrader
Mobile App, Web Trader, Meta Trader 5
US Traders
US Traders
Not Allowed
Allowed

XM Vs Forex.Com: Our Scores and Ratings

We rated both brokers, XM and Forex.Com, on a scale of 1 to 10, with 0.1 increments. To achieve a comprehensive rating, we broadly grouped all services offered by brokers into 6 macro categories and assigned percentage weights to them. Each macro category is subdivided into several data points which contributes to the total score of 1.0-10.0 assigned to each macro category. Since all categories are not equally important, our weight percentage plays a significant role in assessing the broker accurately. For example, Regulation and Security contributes a total weight of 40% to the whole ratings because this is the most important rating category. To learn more, read our methodology.

XM:

9.3
Total Score
Regulation and Security (40%)9.6
Fees and Commissions (20%)9.5
Trading (15%)8.4
Trading tools (10%)8.6
Customer Support (10%)9.5
Trading Education (5%)9.4

Forex.Com:

9
Forex.com Scores
Regulation and Security (40%)10
Fees and Commissions (20%)8
Trading (15%)9
Trading tools (10%)8
Customer Support (10%)8
Trading Education (5%)9

Final Verdict:

XM and Forex.com are regulated forex and CFD brokers in the industry. They offer similar trading services, including forex and CFDs. Both allow scalping, hedging, EA trading and Copy trading, with a minimum order size of 0.01.

However, there are a few areas where you may find some differences. For example, the minimum deposit for XM is $5, whereas the minimum deposit for Forex.com is $100. Additionally, the maximum leverage for XM is generally from 1000:1. On the other hand, the maximum leverage for Forex.com is 50:1. XM offers passive investment programs or copy trading programs like MAM and Zulutrade,  while Forex.com does not have any passive investment programs.

Our score for XM is 9.3, and for Forex.com, it is 9.0. If you are looking for a trusted forex broker with social trading services, you may choose XM. However, if you are a US citizen, or prefer US regulated forex broker, you may choose Forex.com.

Written by

Jason Paine is a forex trader, researcher, and tech enthusiast. He is passionate about financial markets and cutting-edge technology. With a dynamic 16-year trading career, he's on a mission to guide fellow traders. Having navigated diverse forex brokers, Jason shares his insights at Brokersway to bridge the gap between traders and the right brokerage.

DisclosureAt Brokersway we're committed to delivering unbiased information. our opinions are our own and are not influenced by the payment we receive from our advertising partners. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation of how we make money.

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