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

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XM and Forex.com are online forex brokers that offer their trading services to traders and investors. XM is a regulated and trusted forex broker. It is regulated by multiple regulatory authorities including ASIC, CySEC, DFSA, FSCA, FSC in Belize (Global). Similarly, Forex.com is also a regulated broker which is regulated by CySEC, CFTC, NFA, CIMA, FCA, FSA, MAS, ASIC, CIRO. Both the brokers have their own strengths and weaknesses.  

In this article, we will review and compare the brokerage services offered by XM and Forex.com. We will explore options such as regulations, reputations, fees, features, leverage, and more. Additionally, we will analyze and rate the brokers based on macro and micro categories and options. By reviewing these aspects, you will get a clear idea of which broker suits you best for your trading journey.

XM vs Forex.Com: In a Nutshell

XM:

Founded in 2009, XM is a forex and CFD broker that offers online trading services globally. It provides access to over 1000+ trading instruments including forex, cryptocurrencies, stock CFDs turbo stocks, commodities, equity indices, thematic indices, precious metals, energies, and shares. The broker is regulated by multiple reputable regulatory authorities, including FSC, ASIC, CySEC, DFSA, and FSCA. The broker offers a full edition of the popular MT4 and MT5 platforms, which include numerous proprietary indicators. XM offers a maximum leverage of 1:1000 to its clients. It is a low-cost broker with spreads starting from as low as 0.6 pips. To learn more, you can read our review on XM.

XM Overview

XM Overview
  • Founded In: 2009
  • Founder: Constantinos Cleanthous
  • Headquarters: Limassol, Cyprus.
  • 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 as part of Gain Capital Holdings, Forex.com is a well-established forex and CFD broker offering online trading services to retail traders worldwide. With over 4,500 trading instruments, including forex, indices, stocks, cryptocurrencies, commodities, gold, and silver, Forex.com is a major player in the industry. It is regulated by top authorities such as the FCA, DFSA, FSCA, FSA (Seychelles), CMA, and CySEC.

The broker provides popular trading platforms and tools like MT4, MT5, WebTrader, MobileTrader, TradingView, Capitalise.ai, Active Trader, VPS, and more. Forex.com is a wholly-owned subsidiary of StoneX, a NASDAQ-listed company with assets exceeding $7.1 billion, offering institutional-grade financial services networks that connect people to global markets.To learn more, you can read our review on Forex.com

Forex.com Overview

Forex.com Overview
  • Founded In: 2001
  • Founder:  Gain Capital
  • Headquarters: United States
  • Minimum Deposit: $50
  • Maximum Leverage: 50:1
  • Regulations:FCA, DFSA, FSCA, FSA(Seychelles), CMA, and CySEC
  • Trading platform:Mobile App, Web Trader, Meta Trader 5
  • Account Types: 2, (Standard, Raw Spread) 
  • Payment Options: Bank Wire (BankTransfer/SWIFT), VISA, ACH Payments (echeck)
  • US Traders: Accepted

XM vs : Forex.com Features

XM:

  • Trading Instruments: 1000+ including  Forex, Crypto CFDs, Indices CFDs, Commodities CFDs, Stocks CFDs, Turbo Stocks CFDs, Metals CFDs, Energies CFDs
  • Maximum leverage: up to 1000:1 
  •  Minimum Deposit: $5 or Equivalent
  • Account Types: Micro, Standard, Ultra Low, Shares Accounts 
  • Fees: Starting from 0.6 in Ultra-low account, 1 Pips for standard account, and 1 Pips for Micro account
  • PAMM/ MAM:  Not Available 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed 

Forex.com

  • Trading Instruments: 4500+Trading instruments including forex, indices, stocks, cryptocurrencies, commodities, gold, and silver
  • Maximum Leverage: The maximum leverage of forex.com is  50:1 for US clients, 30:1 for EU Clients, 400:1 for CMA clients, and 200:1 for Global clients. 
  • Minimum Deposit: $100
  • Trading Fees: Starting from  1.2 pips spreads for Standard account or 7$per lot round trip for Raw account
  • MAM:  Available 
  • Scalping: Allowed 
  • News Trading: Allowed
  • EA/ Robot Trading: Allowed

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
Product
XM
Forex.com
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
CySEC, CFTC, NFA, CIMA, FCA, FSA, MAS, ASIC, CIRO
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 starting from 0.8 pips or commission $5
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:

Both XM and Forex.com offer similar trading services globally and are regulated forex brokers. The minimum lot size for both is as low as 0.1. However, there are some differences between them.

For example, XM is regulated by 5 regulatory authorities, including ASIC, CySEC, DFSA, FSCA, FSC in Belize (Global) , while Forex.com is regulated by 9 regulatory authorities, including CySEC, CFTC, NFA, CIMA, FCA, FSA, MAS, ASIC, CIRO. The trading cost for XM is 0.6 pips  pips spread, whereas Forex.com’s trading cost is 0.8 pips spread or commission $5.

XM cannot accept US clients as it is not regulated in the USA, while Forex.com, being a US-regulated forex broker, can accept clients from both the US and around the world.

Our score for Forex.com is 9, and for XM, it is 9.3 (according to our expert ratings, brokers that achieve a score of 8.00 or higher are considered safe and trustworthy).

Therefore, XM is most suited and trusted for non-US traders. However,  if you are a US trader seeking a trusted and regulated forex broker, Forex.com is a perfect choice.

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.

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