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

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
Spread Co
7.9 /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 SPREAD CO
Axitrader
9.9 /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 AXITRADER
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.

Spread Co is regulated by the Financial Conduct Authority. Spread Co have provided Forex trading services since 2005.

Axitrader is regulated by the Financial Conduct Authority. Axitrader have provided Forex trading services since 2007.

Why choose them?
  • Yes Over 9 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC
  • Yes Over 13 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 11 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
Headquarters 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus London, UK 36 Leadenhall Street, London EC3A 1 AT, United Kingdom

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting No Yes Yes
Social Trading No No Yes
MARKETS & INSTRUMENTS
Forex (currency pairs) 55 40 80
Commodities Offered 15 2 6
Stocks Offered 160 1000 0
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks No Yes No
Penny stocks No No No
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals No Yes Yes
FTSE Yes Yes Yes
Dow Jones Yes Yes Yes
Dax Yes Yes Yes
Nikkei Yes No No
ETFs Yes Yes No
IPO Yes Yes No
See all instruments

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

See all instruments

61.8% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

68.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

PLATFORM & FEATURES

See the platforms and features offered by each broker

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

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes No 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 and German

English, Chinese, Spanish, Thai, Italian, Polish, German, Vietnamese, Japanese, Russian, Romanian, and Arabic

See platform & features

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

See platform & features

61.8% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

68.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by XM Group and Spread Co

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

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

See account options

61.8% of retail investor accounts lose money when trading CFDs with this provider

See account options

68.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

TRADING CONDITIONS

Scalping Yes No Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes No Yes
Virtual private server Yes No Yes
Direct market access No No Yes
STP broker No No Yes
Market maker Yes Yes Yes
Min trade 0.01 Lot £1 0.01 Lot
Max trade 50 Lot None 100 Lots
Min deposit $5 $100 $1

RISK MANAGEMENT

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

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No No
Neteller Yes No Yes
Skrill No Yes Yes
Payment processing time Varies Varies Instant via debit/credit card
Withdrawal processing time 2 business days Varies Same or next day with local payments. International payments take 3-5 days.
See all funding options

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

See all funding options

61.8% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

68.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

DETAILED INFO

Excluded countries US US US, JP
Contact email Send Email Send Email Send Email
Phone number 357 25029933 0800 078 9398 44 207 096 7488
Live Chat Yes Yes No
Website www.xm.com https://www.spreadco.com/ www.axitrader.com
Spreads:
EUR/USD (Average: 0.7 pips) 0.1 pips + $10.00 0.8 pips 0.2 pips
GBP/USD (Average: 1.1 pips) 0.1 pips + $10.00 Not offered 0.6 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 0.1 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 0.2 pips
NZD/USD (Average: 3.6 pips) 0.3 pips + $10.00 Not offered 0.2 pips
EUR/GBP (Average: 2.4 pips) 0.2 pips + $10.00 Not offered 0.2 pips
View all spreads

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

View all spreads

61.8% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

68.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FEES

Inactivity Fee Yes No No
Commission No No Yes
Deposit Fee No Varies None
Withdrawal Fee No Varies None
View All Fees

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

View All Fees

61.8% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

68.5% of retail investor accounts lose money when trading CFDs with this provider. 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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Last update

All information collected from www.xm.com. Last updated on 01/09/2019.

All information collected from https://www.spreadco.com/. Last updated on 01/09/2019.

All information collected from www.axitrader.com. Last updated on 01/09/2019.

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 2006 Spread CO have been a global leader in spread betting and CFD services with their competitive spreads, low margins and growing trading community. They provide fixed spreads so you know the spread you see is the spread you get. Every Spread Co client is assigned a dedicated relationship manage who will not only help you get get started on their trading platform but also keep you informed with market updates. The benefits of trading with Spread Co include tight, fixed spreads, no finance charges on short index or equity positions, low margins, relationship manger combined with their trusted reliable platform and ultra low commissions. Spread Co is also regulated by the stringent Financial Conduct Authority making them a great option for those looking for a trusted spread betting or CFD service provider.

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

Axitrader is an online forex trading sevice provider who are regulated by the Financial Conduct Authority and ASIC. To open an account with Axitrader, minimum deposits start from $200.

With Axitrader you can trade 61 FX pairs, metals, and CFDs. If you like to trade on the go, Axitrader have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

Axitrader offer MT4 for PC, MT4 for Mac, MT4 for Mobile, MT4 NexGen, MT4 Trading Signals, AxiTrader's Multi Account Manager platforms to make your trades and support 6 different languages.

They also offer a free demo account for traders who want to refine their trading skills.

The spreads offered by Axitrader for the most popular instruments are:
0.6 EUR/USD, 0.5 FTSE 100, 0.5 GOLD,
1 GBP/USD, 1 DOW/JONES, 0.5 Crude Oil,
see all the spreads here.



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

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XM Group or Spread Co?

Access to MT4 or a wide range of instruments?

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 want a broker with a large range of instruments available to trade, Spread Co 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 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 Spread Co is regulated by Financial Conduct Authority.

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

Axitrader 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 Spread Co have been around for 14 years. Our third alternative broker, Axitrader, have been around for 12 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 Spread Co 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.

We’re not aware of any penalties or fines imposed by regulators on XM Group or Spread Co in the past five years.

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.

According to their websites, XM Group is more popular with over 700,000 traders, while Spread Co is used by 5,000 traders. Axitrader, in comparison, is used by 221,000.

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 Spread Co 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 Spread Co are based in 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, both XM Group and Spread Co offer forex trading. XM Group have a slightly larger variety of currency pairs with 55 pairs, compared to 40 offered by Spread Co. Also, if you’re looking to trade cryptocurrencies, XM Group offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both XM Group and Spread Co allow you to trade commodities like gold, silver and crude oil.

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. Axitrader, for example, offer a mini account, standard account and VIP account.

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 Spread Co does not allow scalping but does allow hedging. You can trade with EAs (expert advisors) on XM Group but you can't trade EAs (expert advisors) with Spread Co.

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 Spread Co 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 Spread Co accept Skrill.

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 Spread Co charges points. Therefore, Spread Co 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 Spread Co?

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.