image CMS Forex VISIT CMS FOREX image XTB VISIT XTB image Forex.com VISIT FOREX.COM
About

CMS Forex website is not operational.

XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002.

Forex.com is regulated by the Financial Conduct Authority. Forex.com have provided Forex, Commodities, Indices trading services since 1999.

Why choose them?
  • Yes Over 19 years in business
  • Yes
  • Yes
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, KNF, and CMB.
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
Headquarters Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK London, UK

TRADING SERVICES OFFERED

Spot Forex No Yes Yes
Forex (CFD) No Yes Yes
CFD No Yes Yes
Spread Betting No No No
Social Trading No No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 48 80
Commodities Offered 21 12
Stocks Offered 1606 220
Bitcoin No Yes Yes
Majors No Yes Yes
Indices No Yes Yes
US Stocks No Yes Yes
Penny stocks No Yes No
Energies No Yes Yes
Metals No Yes Yes
Agriculturals No Yes Yes
FTSE No No Yes
Dow Jones No No Yes
Dax No Yes Yes
Nikkei No Yes Yes
ETFs No Yes Yes
IPO No No Yes
See all instruments

Losses can exceed deposits

See all instruments

77% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

70% of retail investor accounts lose money when trading CFDs with this provider

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 No Yes Yes
MT5 No No No
MT4 Mac No Yes No
WebTrader No Yes Yes
Mirror Trader No Yes No
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM No No No
Custom Platforms VT Trader Xstation5 FOREXTrader PRO

APPS

iOS image No Yes Yes
Android image No Yes Yes
Windows image No Yes Yes
Available Languages

English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

English, Chinese, and Arabic

See platform & features

Losses can exceed deposits

See platform & features

77% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

70% of retail investor accounts lose money when trading CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by CMS Forex and XTB

Demo account No Yes Yes
Mini account Yes Yes Yes
Micro account No Yes No
Standard account Yes Yes Yes
ECN Account Yes No Yes
Islamic account Yes Yes Yes
Zero spread account No No No
VIP account No Yes No
Fixed spreads No Yes Yes
Variable spreads Yes Yes Yes
See account options

Losses can exceed deposits

See account options

77% of retail investor accounts lose money when trading CFDs with this provider.

See account options

70% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging No Yes Yes
Expert advisors (EAs) No Yes Yes
Virtual private server No No No
Direct market access No Yes Yes
STP broker No Yes Yes
Market maker Yes Yes Yes
Min trade Varies 0.01 Lot Varies
Max trade Varies 100 Lot 5 million
Min deposit $1 $1 $50

RISK MANAGEMENT

Stop losses No Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops No Yes Yes
Price alerts No Yes Yes
Signal trading No Yes No

FUNDING METHODS

Credit card No Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No Yes No
Neteller No Yes No
Skrill No No No
Payment processing time Varies Varies Varies
Withdrawal processing time Varies Varies 1-2 business days
See all funding options

Losses can exceed deposits

See all funding options

77% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

70% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries US,IN,PK,BD,IQ,IR,IL,AF,AU,CA US,IN,PK,BD,IQ,IR,IL,AF,AU,CA BE
Contact email Send Email Send Email Send Email
phone number No 44 2036953085 Yes
Live Chat No Yes Yes
Website cmsforex.com www.xtb.com http://www.forex.com
Forex Spreads
EUR/USD 0.20 1.00
GBP/USD 0.10 1.00
USD/JPY 0.014 0.90
AUD/USD 0.2 1.2
Cryptocurrency Spreads 1% N/A
View all FX spreads

Losses can exceed deposits

View all FX spreads

77% of retail investor accounts lose money when trading CFDs with this provider.

View all FX spreads

70% of retail investor accounts lose money when trading CFDs with this provider

INDICE SPREADS
Dax 30 0.9 250.0
Nasdaq 100 0.08% 130.0
Euro Stoxx 50 4.40 4.0
ASX 200
S&P 500 0.10 50.0
FTSE 100 0.50 150.0
Google 0.08% N/A
Facebook 0.08% N/A
View all spreads

Losses can exceed deposits

View all spreads

77% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

70% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee No No
Commission Yes No
Deposit Fee Varies No No
Withdrawal Fee No No No
View All Fees

Losses can exceed deposits

View All Fees

77% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

70% of retail investor accounts lose money when trading CFDs with this provider

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Last update

All information collected from cmsforex.com. Last updated on 01/07/2019.

All information collected from www.xtb.com. Last updated on 01/07/2019.

All information collected from http://www.forex.com. Last updated on 01/07/2019.

Company

CMS Forex website is not operational.

XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances.

XTB operates with two factors in mind; to provide traders with the fastest execution speeds and to be the most transparent broker on the market, which is reflected by the services and products they provide.

XTB also have a dedicated education area - the Trading Academy - which contains material to help you become a better trader, including video tutorials, trading courses, articles and much more to improve your skills at every step of your trading journey.

If you are looking for a broker that is regulated by the Financial Conduct Authority and focuses on transparency, fast execution speeds and customer service, XTB is a great option.

For more information about trading with XTB, we have put together an in-depth XTB review covering the pros and cons of this broker.

FOREX is a market leading broker with over 15 years' experience in the industry serving over 200,000 traders worldwide. As a publically traded company on the NY stock exchange, regulated by multiple regulating bodies including the Financial Conduct Authority in UK, FOREX is a broker you can trust. FOREX offer competitive pricing through its advanced technology and execute your trades fast and at the price you expect or better. Pricing is simple and easy to understand with no complicated commission structures or small print, you know what you will pay. With a commitment to customer support they offer 24 hour support from 9pm Sun through to 9pm Friday.

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CMS Forex or XTB?

ECN execution or access to MT4?

If you’re a trader looking for a broker that offers ECN execution (as opposed to a market maker), CMS Forex is likely the better choice. However, if you want a broker that offers MetaTrader4 as a trading platform, XTB may be more suitable.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider XTB to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

CMS Forex is regulated by Closed, while XTB is regulated by Financial Conduct Authority.

As the Financial Conduct Authority are one of the most stringent regulators in the world, XTB will have very strict guidelines to follow to ensure they protect their retail trader clients.

Forex.com are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

CMS Forex has been around for 20 years, while XTB have been around for 17 years. Our third alternative broker, Forex.com, have been around for 20 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

CMS Forex does not use tier one banks as their banking partner. XTB uses tier one banks as their banking partner.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

XTB is more popular with over 230,000 traders.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both CMS Forex and XTB are privately owned companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

CMS Forex are based in , while XTB are based in Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK.

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, XTB have a slightly larger variety of currency pairs with 48 pairs, compared to offered by CMS Forex. Also, if you’re looking to trade cryptocurrencies, XTB offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

If you’re looking to trade commodities like gold, silver or oil, CMS Forex may be a better fit as XTB does not offer commodity trading.

Platforms & Account Types

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. XTB, for example, offer a mini account, standard account and VIP account.

For Muslim traders, CMS Forex offers an Islamic account, which doesn’t accrue interest or incur/receive rollover swap points, as this is prohibited in Shariah law. You can learn more & compare Islamic trading accounts head-to-head here.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

CMS Forex does allow scalping but doesn't allow hedging. While XTB also allows scalping and hedging. You can't trade with EAs (expert advisors) on CMS Forex but you can trade EAs (expert advisors) with XTB.

In terms of risk management tools, CMS Forex doesn't offer negative balance protection, but XTB does. Negative balance protection prevents you owing your broker more than you’ve deposited.

XTB accept Paypal.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, CMS Forex charges points, while XTB charges 0.20 points. Therefore, CMS Forex is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: CMS Forex or XTB?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, XTB is more reliable based on our criteria above. XTB has a wider range of instruments to trade. XTB offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Most brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.