FxPro vs XM Comparison – 2024

Top Reasons to Choose FxPro vs XM

Based on our evaluation, FxPro caters to both beginners and advanced traders. Beginners will appreciate the user-friendly Edge trading platform, while advanced traders can benefit from access to the MT4, MT5, and cTrader platforms. XM, on the other hand, is a solid choice for novice traders due to its live educational webinars and supports intermediate traders with detailed, in-house market research.

FxPro: Snapshot

Founded in 2006, London-based broker FxPro is regulated by four financial authorities, including two Tier-1 regulators. FxPro provides access to over 2,000 tradable instruments through the MT4, MT5, cTrader, and its proprietary Edge trading platforms with no dealing desk intervention.

FxPro: Who is it For?

FxPro’s user-friendly Edge platform, reliable customer support, and extensive educational materials make it well-suited for beginners. Experienced traders can also benefit from access to advanced trading platforms such as MT4, MT5, and cTrader, as well as the broker’s no-dealing desk execution.

What Makes FxPro Stand Out?

FxPro stands out as a true no-dealing desk broker. This means there is no intervention on client orders, with most filled in under 13 milliseconds. The broker also provides full transparency on the quality of its execution by publishing slippage and requote statistics.

XM: Snapshot

Founded in 2009, the XM Group operates through four global entities, two of which are licensed by Tier-1 regulators. It provides access to a wide range of over 1,385 tradable instruments through the MT4 and MT5 platforms and the XM App. The broker also offers professional market research developed by its dedicated in-house team.

XM: Who is it For?

XM caters well to novice traders who are interested in commission-free accounts, low minimum deposits, and access to live educational webinars. Experienced traders can benefit from detailed market research and specialized reports covering global macroeconomic themes affecting the currency and stock index markets.

What Makes Trading with XM Stand Out?

XM stands out for its wealth of market research and educational resources. These include live educational sessions covering the latest financial news and outlooks, as well as an interactive question-and-answer segment. These daily sessions present valuable learning opportunities tailored to traders of all experience levels.

Trust

FxPro vs XM Trust and Regulation Comparison

Established in 2006, FxPro operates under four entities. Two of these are licensed by Tier-1 regulators: the FCA (UK) and CySEC (Cyprus), providing the highest level of safety for client funds, trading conditions, and adherence to regulatory safeguards. The other two entities are licensed by Tier-3 regulators: the FSC (Mauritius) and SCB (Bahamas).

Established in 2009, XM Group operates under four entities. Two are licensed by Tier-1 regulators: CySEC (Cyprus) and ASIC (Australia). The third is licensed by Tier-2 regulator DFSA (Dubai), and the fourth by Tier-3 regulator IFSC (Belize). The Tier-1 regulated entities offer the highest level of investor safety and security regarding funds and trading conditions.

Fees

FxPro vs XM Spreads, Fees, and Commissions Comparison

From FxPro’s commission-free Standard CFD Account, we found the average spread for EUR/USD was 1.3 pips during the London session and 1.1 pips during the New York session. In both instances, the spread exceeded the industry average of 1.08 pips. There is a $10 one-off fee and a $10 monthly fee if there is no activity after 6 months.

Using XM’s commission-free Standard CFD Account, we found the spread for EUR/USD averaged 1.6 pips during the London session and 1.8 pips in the US session, exceeding the industry average of 1.08 pips. There is a $5 monthly inactivity fee if no activity has taken place for 90 days.

For more options, you can also check out our list of the best forex brokers with the lowest spreads.

Platforms and Tools

FxPro vs XM Trading Platforms Comparison

The FxPro MT4, MT5, and cTrader platforms are accessible from desktop, web, and mobile devices and mainly cater to experienced traders seeking algorithmic trading tools. The FxPro Edge platform is web-based and caters to beginners with a user-friendly interface and all the commonly used indicators and drawing tools. The FxPro Direct app also caters to beginners and features an economic calendar and charts powered by TradingView.

The XM MT4 and MT5 platforms are available on desktop, web, and mobile devices. They primarily cater to advanced traders with features like one-click and algorithmic trading capabilities. Beginner traders may find the web platform the most user-friendly for trading. While the XM App supports trading, it offers fewer technical analysis features.

Tradable Instruments

FxPro vs XM Instruments Selection Comparison

FxPro offers over 2,000 tradable instruments, including forex, indices, cryptocurrencies, stocks, and commodity CFDs. These markets suit all types of traders, particularly stock traders, with access to major regions around the world.

XM provides over 1,385 tradable instruments, including forex, commodities, cryptocurrencies, indices, and stock CFDs. Crypto traders can take benefit from trading over 30 crypto CFDs 24/7, providing a unique market experience. This diverse selection of instruments caters to various trading styles and preferences.

Customer Support

FxPro vs XM Customer Support Comparison

FxPro offers customer support 24/5 via email, live chat, and phone. Based on our tests, the live chat was quick and reliable, and emails were answered within a day. Reaching a live agent via the telephone was also very quick. The customer support agents were knowledgeable and helpful.

XM offers customer support 24/5 in Australia and from 07:00 to 16:00 GMT in Europe through live chat, phone, and email channels. Our experiences with XM’s customer support were positive, with each agent providing professional and timely responses during our interactions.

Research

FxPro vs XM Research Tools Comparison

FxPro has a dedicated research section covering the latest market news and analysis in three categories: Market Overview, Crypto, and Technical analysis. The content is valuable for both fundamental and technical traders. A LiveSquawk feed from the client portal area alerts traders to breaking news and market-moving events. Trading Central also provides content, offering Analyst Views, Featured Ideas, and Technical Insights. The research available offers useful knowledge to all types of traders.

XM provides extensive and top-tier market research created by its in-house team. This includes market analysis articles, videos, trading ideas, podcasts, and breaking news. The news feed is powered by Reuters and Dow Jones, ensuring reliable and up-to-date information. The in-house content is designed to meet the needs of traders at all experience levels, covering technical analysis, forex previews, live webinars, and regularly published special reports.

Deposits & Withdrawals

FxPro vs XM Deposit and Withdrawal Methods Comparison

FxPro offers fee-free deposits and withdrawals via bank transfer and credit/debit card but does not support e-wallets. Deposits are processed within ten minutes to one working day. Withdrawals are processed within one working day but can take two to seven working days to reach your bank account. The FxPro wallet is designed to move money from your trading account to the wallet instantly and free of charge.

XM offers fee-free deposit and withdrawal methods via bank transfer (for amounts over $200), Visa, Mastercard, Neteller, Skrill, and China Union Pay. While most deposits are instant, wire transfers may take 2 to 5 business days to process. Withdrawals usually take 2 to 5 business days, with Neteller and Skrill processed within 24 hours.

Account Types and Terms

FxPro vs XM Account Types Comparison

FxPro offers a Standard, Professional, and VIP trading account. The Standard account is suitable for beginners and offers zero-commission trading and a fast opening process. The Professional account offers higher leverage but requires meeting stringent regulatory requirements. The VIP account caters to high-volume traders, offering a 30% discount on market spreads and access to a free VPS, but it requires an account balance of over $50,000.

XM offers four account options: Micro, Standard, Ultra Low, and Zero Accounts. The Micro, Standard, and Ultra Low Accounts feature commission-free trading with variable spreads. The Zero Account incurs a commission of $3.50 per lot, per side, but offers the lowest spreads, making it particularly suitable for scalpers and short-term traders. The Micro account is specifically tailored for beginner traders, featuring a low minimum deposit of $5 and commission-free trading.

Education

FxPro vs XM Educational Content Comparison

FxPro offers education materials for beginner and advanced traders. Its various courses provide text and video-based learning and cover subjects like technical analysis, risk management, and trading psychology. The FxPro YouTube channel features platform tutorials and advanced content.

XM provides live daily webinars in 19 languages, catering to novice and experienced traders. The webinars cover trading strategies, psychology, and live trading workshops during the European and U.S. sessions. MT4 platform tutorials and various trading courses are also available, offering education suitable for traders of all experience levels.

Our Methodology

Since 2011, FX Empire has developed a detailed methodology for evaluating CFD brokers, involving over 250 variables across nine crucial categories. Our team of experts, with deep industry knowledge, conducts live testing and research by interacting with the brokers directly. We check regulations, open accounts, test spreads, account costs, platform functionality, instrument variety, customer support reliability, and the quality of research and educational content. This granular analysis helps us identify each broker’s strengths and weaknesses, keeping our comparisons current with market trends and ensuring our guides meet traders’ needs.

We strive to evaluate each broker objectively, considering how their offerings align with the diverse trading goals and preferences of our readers. Our focus is on providing a balanced overview of each broker’s strengths and weaknesses. This method ensures that our readers receive clear, insightful comparisons to aid in making well-informed trading decisions.

We employ a comprehensive rating system across nine key categories:

• Trust
• Fees
• Platforms and Tools
• Tradable Instruments
• Customer Support
• Research
• Deposits and Withdrawals
• Account Types and Terms
• Education

In each category, we conduct an in-depth analysis for both brokers, outlining features, advantages, and disadvantages and determining their suitability for different trader profiles. By blending insights from our extensive reviews with first-hand experiences and observations, we ensure each comparison is balanced, informative, and tailored to the trader’s unique needs. You can read more about our review process here.

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