XM vs Interactive Brokers

XM vs Interactive Brokers Comparison Table 2024
XM	Interactive Brokers
Review 4.4	Review 4.3

XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC.	Interactive Brokers (IBKR) is a premier brokerage for experienced traders, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
Customer Reviews
4 Based on 3 XM customer reviews	4 Based on 2 Interactive Brokers customer reviews
Bonus Offer
$30 No Deposit Bonus When You Register A Real Account
Comment by Reviewer
"XM is one of the best forex and CFD brokers we have tested. The flexible account types will suit a variety of short-term trading styles while the $5 minimum deposit and smooth sign-up process make it easy to start trading."	"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Pros
XM continues to deliver diverse and multilingual educational materials and offers a useful live education schedule for its webinars and insights 1000+ instruments are available, including recently added thematic indices, providing exposure to emerging industries Transparent and low fees with spreads from 0.0 pips that will help protect day trading profit margins The broker offers premium research including market sentiment, fundamental insights and strategy builders Accessible trading accounts with a $5 minimum deposit and fast account opening Powerful MT4 and MT5 platforms are available with 60+ and 80+ technical charting tools XM is a hugely respected broker authorized by tier-one regulators	IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account. The TWS platform has clearly been built for intermediate and advanced traders and comes with over 100 order types and a reliable real-time market data feed that rarely goes offline. The new IBKR Desktop platform takes the best of TWS while adding bespoke tools like Option Lattice and Screeners with MultiSort to create a genuinely impressive trading experience for day traders at every level. There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI. IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries. While primarily geared towards experienced traders, IBKR has made moves to broaden its appeal in recent years, reducing its minimum deposit from $10,000 to $0. With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
Cons
There is weak regulatory oversight through the global entity There's $5 inactivity fee after only 3 months, though this won't affect active traders PayPal deposits are not supported	TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders. IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience. Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues. You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
Awards
The Best Crypto CFDs 2022 - Financial Expo Egypt Best FX Service Provider 2022 - City of London Wealth Management Awards Best MT4/MT5 Broker 2021 - DayTrading.com Best FX Educational Broker in the MENA region 2021 - Dubai Expo Awards Best Trading Experience 2021 - Ultimate Fintech Best FX Service Provider 2021 - City of London Wealth Management Awards Best Broker in Customer Service 2020 - FX168 Global Forex Broker of the Year 2020 - Global Forex Awards
Instruments
Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures	Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies
Demo Account
Yes	Yes
Minimum Deposit
$5	$0
Trading Platforms
MT4 MT5	Trader Workstation (TWS) IBKR Desktop GlobalTrader Mobile Client Portal AlgoTrader OmniTrader eSignal TradingCentral
Payment Methods
Apple Pay Credit Card Debit Card Google Wallet M-Pesa Neteller Perfect Money Skrill TransferWise Visa Wire Transfer	ACH Transfer Automated Customer Account Transfer Service Cheque Debit Card TransferWise Wire Transfer
Minimum Trade
0.01 Lots	$100
Regulator
ASIC, CySEC, DFSA, FSC, FSCA	FCA, SEC, FINRA, CBI, CIRO, SFC, MAS, MNB
Margin Trading
Yes	Yes
Margin Rate
0.2%	1.55 - 2.59%
STP Account
No	Yes
ECN Account
No	No
DMA Account
No	Yes
MAM Account
No	Yes
PAMM Account
No	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	Yes
Robo Advisor
No	Yes
Negative Balance Protection
Yes	Yes
Market Maker
Yes	No
P2P Trading
No	No
Spot Trading
Yes	Yes
Mobile Apps
iOS, Android & Windows	iOS & Android
App Review
XM offer a mobile app for both Android and iOS that has been specifically tailored to each platform, maximizing the functionality of both. The app delivers the MT4 and MT5 software on the move, with full access to the broker’s 1000+ instruments. Where they shine is their dependability with minimal glitches and delays during testing. The built-in news, trading journal and push notifications also ensure you have everything you need to day trade from your hand.	The IBKR Mobile app, available on both iOS and Android devices, makes your phone a powerful gateway to your IBKR accounts, offering you the freedom to keep an eye on portfolios, initiate trades, and dive into real-time quotes and charts, all while managing your account activities on the fly. This app stands out for its intuitive design, making it especially welcoming for those just starting their trading journey, providing a smoother and more accessible experience than the more complex TWS platform.
Android App Rating
3.9	4.5
iOS App Rating
4.7	4.3
Auto Trading
Expert Advisors (EAs) on MetaTrader	Capitalise.ai & TWS API
Copy Trading
Yes	No
Copy Trading Platform
XM global offers a pre-integrated signals service via the MT5 platform. Aspiring investors can view detailed performance metrics and copy the trades of strategy managers. It's easy to set up, only requiring a handful of steps after logging in to your MQL5 community account.
Social Trading
Yes	No
Trade Signals
Yes
VPS Hosting
Yes	No
Tournaments
Yes	No
Demo Competitions
No	No
Ethical Investing
No	Yes
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
$5	$0
Islamic Account
Yes	No
Account Currencies
USD EUR GBP AUD JPY ZAR CHF SGD PLN HUF	USD EUR GBP CAD AUD INR JPY SEK NOK DKK CHF AED HUF
Stock Exchanges
Australian Securities Exchange (ASX) Borsa Italiana CAC 40 Index France DAX GER 40 Index Deutsche Boerse Dow Jones Euronext FTSE UK Index Hang Seng IBEX 35 Japan Exchange Group Nasdaq S&P 500 SIX Swiss Exchange	Borsa Italiana CAC 40 Index France Chicago Mercantile Exchange Euronext IBEX 35 Japan Exchange Group Korean Stock Exchange London Metal Exchange London Stock Exchange Nasdaq Nasdaq Nordic & Baltics New York Stock Exchange Russell 2000 Shenzhen Stock Exchange Toronto Stock Exchange
Commodities
Cocoa Coffee Copper Corn Cotton Gold Natural Gas Oil Silver Soybeans Sugar Wheat	Aluminium Gold Lead Natural Gas Precious Metals Soybeans Zinc
CFD Trading
Day traders can speculate on leveraged CFDs with zero commissions, spanning popular markets including currencies, equities and commodities. Additionally, the MetaTrader platforms collectively offer dozens of advanced technical indicators built for short-term strategies.	Over 8,000 CFDs are offered on a vast array of instruments, encompassing stocks, indices, forex, and commodities. Moreover, the TWS platform lends itself to seasoned day traders, offering a comprehensive selection of over 100 order types and algorithms, alongside premium market data sourced from reputable sources such as Reuters and Dow Jones.
Leverage
	1:50
FTSE Spread
1.5 pts	0.005% (£1 Min)
GBPUSD Spread
1.9	0.08-0.20 bps x trade value
Oil Spread
0.03	0.25-0.85
Stocks Spread
0.002	0.003
Forex Trading
XM offers ultra low spreads across a wide range of forex assets with no re-quotes or hidden charges. Over 50 currency pairs are available, which is above the market average and is in line with one of our top award-winners, AvaTrade.	IBKR presents an extensive range of over 100 major, minor, and exotic forex pairs, surpassing the offerings of nearly all leading alternatives, though not CMC Markets. Forex trading occurs over multiple platforms and boasts institutional-grade spreads starting from 0.1 pips and 20 complex order types, including brackets, scale, and one-cancels-all (OCA) orders.
Forex App
XM offer a mobile app for both Android and iOS that has been specifically tailored to each platform, maximizing the functionality of both. The app delivers the MetaTrader 4 and MetaTrader 5 platforms in your hand, with full forex trading and charting capabilities. Try it out today.
GBPUSD Spread
1.9	0.08-0.20 bps x trade value
EURUSD Spread
1.6	0.08-0.20 bps x trade value
EURGBP Spread
1.8	0.08-0.20 bps x trade value
Assets
55+	100+
Currency Indices
USD
Cryptocurrency
XM offers a handful of cryptocurrencies against the USD via the South African entity only. These are tradable via CFDs with high leverage up to 1:500. You can explore major tokens like Bitcoin, Ethereum and Ripple with just a $30 deposit.	IBKR lets you purchase and hold Bitcoin, Bitcoin Cash, Ethereum, and Litecoin at competitive commission rates and without needing a crypto wallet. Additionally, there is a range of other diverse assets to explore, such as crypto indices like the NYSE Bitcoin Index, as well as futures contracts like the BAKKT Bitcoin Futures.
Spread
Variable	0.12%-0.18%
Coins
BTC ETH LTC XRP BCH	BTC LTC ETH XRP
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

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