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

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.

VISIT XM GROUP
FBS Inc
0 /10

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.

VISIT FBS INC
XTB
10 /10

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.

VISIT XTB
About

XM Group is regulated by the Financial Conduct Authority, CySEC and MiFID. XM have provided forex, commodities, equity and indice trading services since 2009.

FBS Inc is regulated by IFSC, CRFIN. FBS Inc have provided Forex, Indices trading services since 2009.

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

Why choose them?
  • Yes Over 9 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC
  • Yes Over 9 years in business
  • Yes
  • Yes
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, KNF, and CMB.
Headquarters 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus Vasileos Georgiou A 89, Office 101, Potamos Germasogeias 4048, Limassol, Cyprus Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting No No No
Social Trading No No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 55 48
Commodities Offered 15 21
Stocks Offered 160 N/A 1606
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks No No Yes
Penny stocks No No Yes
Energies Yes No Yes
Metals Yes Yes Yes
Agriculturals No No Yes
FTSE Yes No Yes
Dow Jones Yes No Yes
Dax Yes No Yes
Nikkei Yes No Yes
ETFs Yes Yes Yes
IPO Yes No Yes
See all instruments

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

See all instruments

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

See all instruments

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

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

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes Yes Yes
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, Portuguese, Arabic, Chinese, Japanese, Indonesian, Malaysian, Thai, Urdu, and Vietnamese

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

See platform & features

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

See platform & features

Losses can exceed deposits

See platform & features

77% 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 XM Group and FBS Inc

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

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

See account options

Losses can exceed deposits

See account options

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

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes Yes No
Direct market access No No Yes
STP broker No Yes Yes
Market maker Yes Yes Yes
Min trade 0.01 Lot 0.01 Lot 0.01 Lot
Max trade 50 Lot 200 100 Lot
Min deposit $5 $1 $1

RISK MANAGEMENT

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

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller Yes Yes Yes
Skrill No Yes Yes
Payment processing time Varies 1 business day Same day if requested before 1PM
Withdrawal processing time 2 business days Same day Same day if requested before 1PM
See all funding options

71.6% 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

77% 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
Contact email Send Email Send Email Send Email
Phone number 357 25029933 +357 25313540 44 2036953085
Live Chat Yes Yes Yes
Website www.xm.com https://fbs.com/ www.xtb.com
Spreads:
EUR/USD (Average: 0.7 pips) 0.1 pips + $10.00 0.5 pips 0.1 pips
GBP/USD (Average: 1.1 pips) 0.1 pips + $10.00 0.7 pips 0.1 pips
USD/JPY (Average: 1.1 pips) 0.1 pips + $10.00 1.0 pips 0.1 pips
AUD/USD (Average: 0.8 pips) 0.2 pips + $10.00 0.6 pips 0.2 pips
USD/CHF (Average: 2.3 pips) 0.2 pips + $10.00 3.0 pips 0.2 pips
USD/CAD (Average: 2.9 pips) 0.2 pips + $10.00 1.0 pips 0.3 pips
NZD/USD (Average: 3.6 pips) 0.3 pips + $10.00 1.0 pips 0.3 pips
EUR/GBP (Average: 2.4 pips) 0.2 pips + $10.00 1.0 pips 0.1 pips
View all spreads

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

View all spreads

Losses can exceed deposits

View all spreads

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

FEES

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

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

View All Fees

Losses can exceed deposits

View All Fees

77% 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 01/08/2019.

All information collected from https://fbs.com/. Last updated on 01/08/2019.

All information collected from www.xtb.com. Last updated on 01/08/2019.

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.

XM has oppened accounts in over 190 countries and is regulated by multiple regulators including one of the worlds most stringent, the Financial Conduct Authority in the UK, CySEC, BaFin, CNMV and MiFID of the Eurpean Union. With 99.35% of trades executed in under a second and strictly no requotes and no rejections policy you can trade confidently with XM.

For more information about trading with XM, we have put together an indepth XM review with all the pros and cons about this broker.

Since starting in 2009 FBS have amassed over 700,000 traders located all around the world in over 120 countries. FBS attribute their growth to listening to their traders and providing them with what they asked for including 100% regular contests, 24 hour customer support five days a week, deposits and withdrawals in any currency, low minimum deposits, no requotes and split second execution of trades. FBS have quickly become world leading broker you can trust.

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.

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XTB vs XM

XM Group or FBS Inc?

A wide range of instruments or offers VIP accounts ?

If you’re a trader looking for a broker that offers a wide variety of instruments to trade, XM Group is likely the better option out of these brokers. However, if

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 XM Group to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

XM Group is regulated by Financial Conduct Authority, CySEC, and ASIC, while FBS Inc is regulated by Uncertain.

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

XTB 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.

XM Group has been around for 10 years, while FBS Inc have been around for 10 years. Our third alternative broker, XTB, have been around for 17 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.

Both XM Group and FBS Inc use tier one banks, but we are not sure of which bank specifically.

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.

XM Group is more popular with over 700,000 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 XM Group and FBS Inc 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.

XM Group are based in 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus, while FBS Inc are based in Vasileos Georgiou A 89, Office 101, Potamos Germasogeias 4048, Limassol, Cyprus .

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, both XM Group and FBS Inc offer forex trading. XM Group have a slightly larger variety of currency pairs with 55 pairs, compared to offered by FBS Inc. Also, if you’re looking to trade cryptocurrencies, XM Group 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, XM Group may be a better fit as FBS Inc does not offer commodity trading.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both XM Group and FBS Inc offer this. Both brokers also offer the new & improved MT5 platformOur alternative broker, XTB, also offers MT4 and MT5.

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. FBS Inc, for example, offer a mini account, standard account and VIP account.

For Muslim traders, XM Group 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.

XM Group does allow scalping and hedging. While FBS Inc also allows scalping and hedging. You can trade with EAs (expert advisors) on both XM Group and FBS Inc.

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 FBS Inc 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 while FBS Inc accept Neteller.

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, XM Group charges 0.10 points, while FBS Inc charges points. Therefore, FBS Inc 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: XM Group or FBS Inc?

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.

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