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eToro vs XM Group 2022

BrokerNotes.co

Written by BrokerNotes.co

November 08, 2022

Trying to decide between eToro and XM Group? Weโ€™ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, eToro ranks more highly than XM Group.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 65% and 82% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Overall RatingeToroXM GroupFOREX.com
Overall Rating8.6 / 108 / 108.7 / 10
Account TypeeToroXM GroupFOREX.com
Standard Trade Size (100,000 units)YesYesYes
Mini Trade Size (10,000 units)YesYesYes
Micro Trade Size (1,000 units)YesYesYes
Islamic AccountNoYesYes
Copy TradingeToroXM GroupFOREX.com
Social Trading / Copy TradingYesYesNo
DupliTradeNoNoNo
ZuluTradeNoNoNo
CryptocurrencyeToroXM GroupFOREX.com
Cryptocurrency (Physical)YesNoNo
Cryptocurrency (CFD)YesYesYes
BitcoinYesYesYes
ethereumYesYesYes
Forex Trading (Spot or CFDs)eToroXM GroupFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Mobile Trading - Forex or CFDsYesYesYes
Indices (Index CFDs)eToroXM GroupFOREX.com
DAXYesYesYes
Dow JonesYesYesYes
FTSEYesYesYes
NASDAQ 100YesYesYes
NikkeiYesYesYes
SP 500YesYesYes
InvestmentseToroXM GroupFOREX.com
Forex Trading (Spot or CFDs)YesYesYes
Spread BettingNoNoNo
Social Trading / Copy TradingYesYesNo
MetalsYesYesYes
EnergiesYesYesYes
AgriculturalsYesYesYes
ETFYesNoYes
U.S. Stocks (CFD)YesYesYes
Trading PlatformseToroXM GroupFOREX.com
Apple iOS AppYesYesYes
Android AppYesYesYes
Proprietary PlatformYesNoYes
Desktop Platform (Windows)NoYesYes
Web PlatformYesYesYes
MetaTrader 4 (MT4)NoYesYes
MetaTrader 5 (MT5)NoYesYes
Regulatory LicenseseToroXM GroupFOREX.com
Tier-1 Licenses224
ASIC Authorised (Australia)YesYesNo
IIROC Authorised (Canada)NoNoYes
FCA Authorised (U.K.)YesYesYes
SFC Authorised (Hong Kong)NoNoNo
MAS Authorised (Singapore)NoNoNo
FINMA Authorised (Switzerland)NoNoNo
CFTC Registered (USA)NoYesYes
Tier-2 Licenses112
Tier-3 Licenses011
Research, EducationeToroXM GroupFOREX.com
Trading Central (Recognia)YesYesYes
Forex News (Top-Tier Sources)NoYesYes
Daily Market CommentaryYesYesYes
AutochartistNoYesNo
Investor Dictionary (Glossary)YesNoYes
Videos - Beginner Trading VideosYesYesYes
Client Webinars (Archived)YesNoNo
Trading CostseToroXM GroupFOREX.com
Minimum Initial Deposit$10-$10,000$5$100
Average Spread EUR/USD - Standard1 (August 2021)1.6 (Aug 2020)1.0 (July 2022)
All-in Cost EUR/USD - ActiveN/A0.8 (Aug 2021)1.0 (July 2022)
Active Trader or VIP DiscountsYesNoYes
Bank Wire (Deposit/Withdraw)YesYesYes
Visa/Mastercard (Credit/Debit)YesYesYes
PayPal (Deposit/Withdraw)YesNoYes
Trading ToolseToroXM GroupFOREX.com
Watchlists - Total Fields6720
Mobile WatchlistYesYesYes
Charting - Indicators / Studies (Total)6630203
Mobile Charting - Indicators / Studies53088
Trust FactorseToroXM GroupFOREX.com
Year Founded200720091999
Publicly Traded (Listed)NoNoYes
BankNoNoNo
Authorised in European UnionYesYesYes
Trust Score939099
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eToro vs XM Group Comparison

Comparing forex brokers side by side is no easy task. For our 2022 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare eToro vs XM Group.

Can I trust eToro?

eToro has a trust score of 93, giving it a "Highly Trusted" trust label. Here's what each trust score label means:

  • "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
  • "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
  • "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
  • "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are โ€“ in most cases โ€“ operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
  • "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a โ€œDo Not Trustโ€ rating.

Can I trust XM Group?

XM Group has a trust score of 90, giving it a "Trusted" trust label.

Is eToro a good broker?

Best known for its versatile social copy trading platform suite for web and mobile, eToro also offers a large selection of cryptocurrency products, as well as CFDs, shares, forex pairs, and a wide range of powerful trading tools. Though not a discount broker, eToro offers which includes CFDs, shares, and forex pairs. While not a discount broker, eToro delivers more benefits than its competitors in the same price range.

Is XM Group a good broker?

XM Group is known for its robust educational materials and quality market research, though its range of markets and overall trading costs trail behind the best MetaTrader brokers.

What tier-1 jurisdictions is each broker regulated in?

Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. eToro is ASIC Authorised (Australia) and FCA Authorised (U.K.), while XM Group is ASIC Authorised (Australia), FCA Authorised (U.K.) and CFTC Registered (USA)., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore), FMA Authorised (New Zealand) and FINMA Authorised (Switzerland)

What tier-2 jurisdictions is each broker regulated in? What about tier-3?

Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, both eToro and XM Group are CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses eToro is none, while XM Group is IFSC Authorised (Belize)., neither have SCB Authorised (Bahamas), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).

Which broker offers more trading platforms?

For trading platforms eToro supports a Proprietary Platform, whereas XM Group supports a Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade

Does eToro offer MetaTrader? Does XM Group offer MetaTrader?

For MetaTrader eToro provides neither of these, while XM Group provides MetaTrader 4 (MT4) and MetaTrader 5 (MT5). If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.

How do eToro and XM Group differ in terms of minimum deposit? What about average spreads and funding options?

eToro requires a minimum deposit of $10-$10,000, while XM Group requires a minimum deposit of $5. From our testing we found eToro offers spreads of 1 (August 2021), while XM Group offers spreads of 1.6 (Aug 2020). eToro supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for popular funding options, where XM Group supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw).

Which brokers offers more tradeable asset classes, eToro or XM Group?

eToro offers a more diverse selection of investment options than XM Group allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals, ETF and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, eToro has 3458, compared to 1372 from XM Group.

Can I trade cryptocurrency with eToro or XM Group?

Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative โ€” including spot forex contracts. In terms of trading physical cryptocurrency neither eToro nor XM Group allow you to trade physical cryptocurrencies.

Who offers more research tools, eToro or XM Group?

In terms of research and research tools eToro gives traders the following tools: Daily Market Commentary, Stock Charts, Trading Central (Recognia) and Social Trading / Copy Trading. In comparison XM Group has the tools listed here: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.

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