FxPro vs XM: Comparison and Analysis

FxPro vs XM: A Comparison Summary

When it comes to choosing a forex broker, traders need to consider various factors such as security, trading fees, markets, platforms, education, and customer care. In this comparison summary, we will analyse the features and services of FxPro and XM, two popular forex brokers, to help traders make an informed decision.

Security

Both FxPro and XM are regulated by multiple authorities, ensuring the safety of client funds and fair trading practices. FxPro is regulated by FCA, CySEC, FSCA, and SCB (Bahamas), whereas XM is regulated by CySEC, ASIC, DFSA, and FSC. FxPro has a security rating of 95, while XM has a security rating of 94, making both brokers highly secure.

Demo Account

FxPro offers a demo account for 180 days with virtual funds of $100,000. The virtual funds can be restored directly from the FxPro Direct dashboard. On the other hand, XM offers an unlimited demo account with virtual funds of $100,000, which can be restored by contacting customer support.

Account Opening

FxPro requires a minimum deposit of $100, while XM requires only $5. FxPro supports multiple account types, including MT4, MT5, cTrader, Spread Betting, Islamic, and VIP accounts. XM offers Standard, Micro, Zero, Ultra Low, Shares, and Islamic accounts. FxPro supports more account currencies than XM and offers a wider range of payment methods.

Social-Copy Trading

FxPro does not offer social or copy trading features, while XM doesn’t offer social trading.

Markets

FxPro offers 70+ forex pairs, 15 commodities, 18 indices, 28 crypto assets, and 2000+ stocks, as well as 22 futures and options. XM offers 57 forex pairs, 15 commodities, 30 indices, 0 crypto assets, 150+ stocks, and no futures or options. Both brokers offer CFD trading only, making them more suitable for short-term investing.

Trading Fees

FxPro offers variable and fixed spreads, with variable spreads starting from 0.1 pips on forex (lower than the market average) and fixed spreads starting from 1.6 pips on forex (higher than the market average). XM offers variable spreads starting from 0 pips on forex (lower than the market average), but the spreads may be higher depending on the account type chosen. XM charges commissions per lot traded, up to $7 per lot, while FxPro doesn’t charge commissions.

Platforms

FxPro offers a proprietary platform, FxPro EDGE, via WebTrader and FxPro Mobile App, as well as MT4, MT5, and cTrader platforms, available via WebTrader, Desktop, and Mobile. XM offers MT4 and MT5 platforms, available via WebTrader, Desktop, and Mobile. All platforms offered by XM allow traders to engage in algo trading, and XM also allows traders to use VPS services

Education/Customer Care

FxPro offers limited education material, with only basic video tutorials and PDF guides available for beginners and very few resources for professionals. However, FxPro’s customer care is easy to contact via phone, email, and live chat, with over 30 available languages. On the other hand, XM offers a wide range of educational material, including webinars in 19 languages, trading lessons, platform lessons, and much more. XM’s customer care is also easy to contact via email, phone, and live chat, with over 21 available languages.

Conclusion

In conclusion, both FxPro and XM are highly secure forex brokers, regulated by multiple authorities. FxPro offers a wider range of markets, while XM offers lower minimum deposit requirements and better trading fees, making it a good option for scalping. FxPro offers a wider range of account types, account currencies, and payment methods, while XM offers a wider range of educational material and algo trading capabilities. Traders need to consider their individual trading needs and preferences before choosing between these two brokers.