Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.
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BrokerDNA™
The BROKERDNA™ score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers. This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here. |
XM Group
9.7
/10
VISIT XM GROUP
The BROKERDNA™ score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers. This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here. |
DMM FX
0
/10
VISIT DMM FX
The BROKERDNA™ score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers. This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here. |
XTB
10
/10
VISIT XTB
The BROKERDNA™ score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers. This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here. |
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About |
XM Group is regulated by the IFSC, CySEC and ASIC. XM have provided forex, commodities, equity and indice trading services since 2009. |
DMM FX have ceased brokerage operations from Australia. |
XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002. |
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Why choose them? |
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Headquarters | Level 13, 333 George Street Sydney, NSW 2000, Australia and No.5 Cork Street, Belize City, Belize, C.A. | Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK | ||
TRADING SERVICES OFFERED |
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Spot Forex | ||||
Forex (CFD) | ||||
CFD | ||||
Spread Betting | ||||
Social Trading | ||||
MARKETS & INSTRUMENTS | ||||
Forex (currency pairs) | 55 | 48 | ||
Commodities Offered | 15 | 21 | ||
Stocks Offered | 160 | 1606 | ||
Bitcoin | ||||
Majors | ||||
Indices | ||||
US Stocks | ||||
Penny stocks | ||||
Energies | ||||
Metals | ||||
Agriculturals | ||||
FTSE | ||||
Dow Jones | ||||
Dax | ||||
Nikkei | ||||
ETFs | ||||
IPO | ||||
See all instruments
78.04% of retail investors lose money when trading spread bets and CFDs with this provider. |
See all instruments
Losses can exceed deposits |
See all instruments
79% of retail investor accounts lose money when trading CFDs with this provider. |
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PLATFORM & FEATURES |
See the platforms and features offered by each broker |
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Screenshot |
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MT4 | ||||
MT5 | ||||
MT4 Mac | ||||
WebTrader | ||||
Mirror Trader | ||||
ZuluTrade | ||||
Sirix | ||||
cTrader | ||||
PAMM | ||||
Custom Platforms | No | No | Xstation5 | |
APPS |
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iOS |
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Android |
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Windows |
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Available Languages |
Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish |
English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian. |
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See platform & features
78.04% of retail investors lose money when trading spread bets and CFDs with this provider. |
See platform & features
Losses can exceed deposits |
See platform & features
79% of retail investor accounts lose money when trading CFDs with this provider. |
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ACCOUNT INFORMATION |
From micro accounts to ECN accounts, compare the accounts offered by XM Group and DMM FX |
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Demo account | ||||
Mini account | ||||
Micro account | ||||
Standard account | ||||
ECN Account | ||||
Islamic account | ||||
Zero spread account | ||||
VIP account | ||||
Fixed spreads | ||||
Variable spreads | ||||
See account options
78.04% of retail investors lose money when trading spread bets and CFDs with this provider. |
See account options
Losses can exceed deposits |
See account options
79% of retail investor accounts lose money when trading CFDs with this provider. |
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TRADING CONDITIONS |
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Scalping | ||||
Hedging | ||||
Expert advisors (EAs) | ||||
Virtual private server | ||||
Direct market access | ||||
STP broker | ||||
Market maker | ||||
Min trade | 0.01 Lot | Varies | 0.01 Lot | |
Max trade | 100 Lot | Varies | 100 Lot | |
Min deposit | $5 | $1 | $1 | |
RISK MANAGEMENT |
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Stop losses | ||||
Limit orders | ||||
One-click trading | ||||
Trailing stops | ||||
Price alerts | ||||
Signal trading | ||||
FUNDING METHODS |
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Credit card | ||||
Bank transfer | ||||
Standard account | ||||
Paypal | ||||
Neteller | ||||
Skrill | ||||
Payment processing time | Varies | Varies | Same day if requested before 1PM | |
Withdrawal processing time | 2 business days | Varies | Same day if requested before 1PM | |
See all funding options
78.04% of retail investors lose money when trading spread bets and CFDs with this provider. |
See all funding options
Losses can exceed deposits |
See all funding options
79% of retail investor accounts lose money when trading CFDs with this provider. |
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DETAILED INFO |
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Excluded countries | US,IN,PK,BD,IQ,IR,IL,AF,AU,CA | |||
Contact email | Send Email | Send Email | Send Email | |
Phone number | 357 25029933 | No | 44 2036953085 | |
Live Chat | ||||
Website | www.xm.com | dmmfx.com.au | www.xtb.com | |
Spreads: | ||||
EUR/USD (Average: 0.7 pips) | 0.1 pips + $10.00 | Not offered | 0.1 pips | |
GBP/USD (Average: 1.1 pips) | 0.1 pips + $10.00 | Not offered | 0.1 pips | |
USD/JPY (Average: 1.1 pips) | 0.1 pips + $10.00 | Not offered | 0.1 pips | |
AUD/USD (Average: 0.8 pips) | 0.2 pips + $10.00 | Not offered | 0.2 pips | |
USD/CHF (Average: 2.3 pips) | 0.2 pips + $10.00 | Not offered | 0.2 pips | |
USD/CAD (Average: 2.9 pips) | 0.2 pips + $10.00 | Not offered | 0.3 pips | |
NZD/USD (Average: 3.6 pips) | 0.3 pips + $10.00 | Not offered | 0.3 pips | |
EUR/GBP (Average: 2.4 pips) | 0.2 pips + $10.00 | Not offered | 0.1 pips | |
View all spreads
78.04% of retail investors lose money when trading spread bets and CFDs with this provider. |
View all spreads
Losses can exceed deposits |
View all spreads
79% of retail investor accounts lose money when trading CFDs with this provider. |
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FEES |
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Inactivity Fee | Yes | No | ||
Commission | No | Yes | ||
Deposit Fee | No | Varies | No | |
Withdrawal Fee | No | No | No | |
View All Fees
78.04% of retail investors lose money when trading spread bets and CFDs with this provider. |
View All Fees
Losses can exceed deposits |
View All Fees
79% of retail investor accounts lose money when trading CFDs with this provider. |
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Last update |
All information collected from www.xm.com. Last updated on 01/02/2021. |
All information collected from dmmfx.com.au. Last updated on 01/02/2021. |
All information collected from www.xtb.com. Last updated on 01/02/2021. |
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Company |
Since starting in 2009, XM Group has opened over 300,000 trading accounts, establishing itself as an industry leader with a focus on customer service it offers support in over 20 languages. With its size and resources, its users have access to a wide range of expert advice to hep everybody in the trading world. |
According to LeapRate, DMM FX have ceased their ASIC regulated brokerage operations. |
XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances. |
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Popular comparisons |
Popular comparisons feat. XM Group
XM vs IC Markets |
Popular comparisons feat. DMM FX
ETX Capital vs DMM FX |
Popular comparisons feat. XTB
XTB vs IG |
If you’re a trader looking for a broker that offers the popular MT4 trading platform, XM Group is likely a better fit. However, if
You can determine a broker’s reliability & trustworthiness by looking at eight factors:
Based on these eight factors, we consider XM Group to be the more reliable broker. We’ve broken down why below:
XM Group is regulated by IFSC, CySEC, and ASIC, while DMM FX is regulated by Closed.
XTB are also regulated by the Financial Conduct Authority.
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.
XM Group has been around for 12 years, while DMM FX have been around for 8 years. Our third alternative broker, XTB, have been around for 19 years.
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.
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.
XM Group uses tier one banks as their banking partner.DMM FX does not use tier one banks as their banking partner.
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.
While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.
XM Group is more popular with over 700,000 traders.
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 XM Group and DMM FX are privately owned companies.
Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.
XM Group are based in Level 13, 333 George Street Sydney, NSW 2000, Australia and No.5 Cork Street, Belize City, Belize, C.A., while DMM FX are based in .
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:
If you’re looking to trade currency pairs, XM Group have a slightly larger variety of currency pairs with 55 pairs, compared to offered by DMM FX. Also, if you’re looking to trade cryptocurrencies,
If you’re looking to trade commodities like gold, silver or oil, XM Group may be a better fit as DMM FX does not offer commodity trading.
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.
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.
XM Group does allow scalping and hedging. While DMM FX does not allow scalping or allow hedging. You can trade with EAs (expert advisors) on XM Group but you can't trade EAs (expert advisors) with DMM FX.
In terms of risk management tools, XM Group does offer negative balance protection to prevent you owing your broker more than you’ve deposited, but DMM FX doesn't offer this.
XM Group also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.
XM Group accept Neteller.
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, XM Group charges 0.10 points, while DMM FX charges points. Therefore, DMM FX 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.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, XM Group is more reliable based on our criteria above. XM Group has a wider range of instruments to trade. XM Group offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.
Both 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.