FXCM 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 FXCM vs XM Group.
Can I trust FXCM?
FXCM has a trust score of 96, 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 – in most cases – 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 “Do Not Trust” rating.
Can I trust XM Group?
XM Group has a trust score of 90, giving it a "Trusted" trust label.
Is FXCM a good broker?
FXCM, a Jefferies Group company, is a long-standing brand that caters to global forex and CFD traders. It offers multiple trading platforms for alogrithmic trading and social copy-trading alongside it's flagship platform suite. The range of markets available at FXCM has increased following the addition of its share trading feature, and its known for providing robust market research – though pricing at FXM is just average.
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. FXCM is ASIC Authorised (Australia), IIROC Authorised (Canada) and FCA Authorised (U.K.), while XM Group is ASIC Authorised (Australia), FCA Authorised (U.K.) and CFTC Registered (USA)., neither have 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, FXCM is CySEC Authorised (Cyprus), ISA Authorised (Israel) and FSCA Authorised (South Africa), while XM Group is CySEC Authorised (Cyprus)., neither have CBRC Authorised (China), SEBI Authorised (India), CBR Authorised (Russia), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses FXCM 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 FXCM supports a Proprietary Platform, Desktop Platform (Windows) and ZuluTrade, whereas XM Group supports a Desktop Platform (Windows)., neither have cTrader and DupliTrade
Does FXCM offer MetaTrader? Does XM Group offer MetaTrader?
For MetaTrader FXCM provides MetaTrader 4 (MT4), 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 FXCM and XM Group differ in terms of minimum deposit? What about average spreads and funding options?
FXCM requires a minimum deposit of Starts from $50, while XM Group requires a minimum deposit of $5. From our testing we found FXCM offers spreads of 1.38 (Q2 2022), while XM Group offers spreads of 1.6 (Aug 2020). Both FXCM and XM Group offer Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for deposits., neither have PayPal (Deposit/Withdraw)
Which brokers offers more tradeable asset classes, FXCM or XM Group?
FXCM offers a more diverse selection of investment options than XM Group allowing you to trade Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies and U.S. Stocks (CFD)., neither have ETF Looking at total tradeable symbols, FXCM has 441, compared to 1372 from XM Group.
Can I trade cryptocurrency with FXCM 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 — including spot forex contracts. In terms of trading physical cryptocurrency neither FXCM nor XM Group allow you to trade physical cryptocurrencies.
Who offers more research tools, FXCM or XM Group?
Both FXCM and XM Group offer a complete suite of research, providing traders with these tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading.