Your capital is at risk. Trade only with funds you can afford to lose.
XM
#1 in our CFD broker rankings
Accepts traders from FIM
Rating breakdown
- Regulation & trust4.50.2 higher than IronFX (4.3)
- Assets & markets4.51.2 higher than IronFX (3.3)
- Fees & costs4.00.2 higher than IronFX (3.8)
- Platforms & tools4.81.0 higher than IronFX (3.8)
- Accounts & banking4.50.2 higher than IronFX (4.3)
- Education4.80.8 higher than IronFX (4.0)
- Research4.30.3 higher than IronFX (4.0)
- Customer support4.90.8 higher than IronFX (4.1)
IronFX’s score. Numbers show the difference.
IronFX
#41 in our CFD broker rankings
Accepts traders from FIM
Rating breakdown
- Regulation & trust4.30.2 lower than XM (4.5)
- Assets & markets3.31.2 lower than XM (4.5)
- Fees & costs3.80.2 lower than XM (4.0)
- Platforms & tools3.81.0 lower than XM (4.8)
- Accounts & banking4.30.2 lower than XM (4.5)
- Education4.00.8 lower than XM (4.8)
- Research4.00.3 lower than XM (4.3)
- Customer support4.10.8 lower than XM (4.9)
XM’s score. Numbers show the difference.
| XM | IronFX | |
|---|---|---|
| Overview | XM is a globally recognized forex and CFD broker with 20+ million clients in 190+ countries. Since 2009, this trusted broker has been delivering low trading fees across its growing roster of 1000+ instruments. It also offers a comprehensive MetaTrader experience that we've observed firsthand placing test trades. | IronFX is a multi-regulated forex and CFD broker founded in 2010. This award-winning firm offers 500+ markets to over 1.5 million clients across 180 countries. Traders can access various account types with competitive pricing on the MT4 platform, as well as 24/5 customer support in 30 languages. |
| Customer Reviews | Based on 53 customer reviews | Based on 47 customer reviews |
| Trustpilot Score | ||
| Bonus Offer | $30 No Deposit Bonus, 100% Deposit Bonus | Traders can choose between: 100% unlimited Sharing Bonus – minimum $200 deposit. 40% Power Bonus up to $4,000 – minimum $500 deposit. 20% Iron Bonus up to $2,000 – minimum $100 deposit. |
| Promotions | – | |
| Comment by Reviewer | “With a low $5 minimum deposit, advanced charting platforms in MT4 and MT5, expanding range of markets, and a Zero account offering spreads from 0.0, XM provides all the essentials for active traders, even earning our ‘Best MT4/MT5 Broker’ award in recent years.” | “IronFX remains a good choice for experienced forex traders looking to trade with fixed or floating spreads. The range of 80+ currencies is more than many competitors and there are some excellent forex market research tools on offer.” |
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| Cons |
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| Awards |
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| Instruments | CFDs, Forex, Stocks, Commodities, Indices, Thematic Indices, Precious Metals, Energies | Forex, Indices, Shares, Futures, Commodities, Metals (all CFDs) |
| Demo Account | Yes | Yes |
| Minimum Deposit | $5 | $100 |
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| Payment Methods | ||
| Minimum Trade | 0.01 Lots | 0.01 Lots |
| Regulator | CySEC, DFSA, FSCA, SCA, FSA, FSC-Belize, FSC-Mauritius, CMA-Kenya, CMA-UAE | FCA, CySEC, FSCA, BVI FSC |
| Margin Trading | Yes | Yes |
| STP Account | Yes | Yes |
| ECN Account | No | Yes |
| DMA Account | No | No |
| MAM Account | No | Yes |
| PAMM Account | No | Yes |
| LAMM Account | No | Yes |
| Demat Account | No | No |
| AI / Machine Learning | Yes | No |
| Robo Advisor | No | No |
| Negative Balance Protection | Yes | Yes |
| Market Maker | Yes | Yes |
| P2P Trading | No | No |
| Spot Trading | Yes | Yes |
| Mobile Apps | iOS, Android & Windows | Android, iOS, WebTrader |
| 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 1,400+ 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. | – |
| Android App Rating | ||
| iOS App Rating | ||
| Auto Trading | Expert Advisors (EAs) on MetaTrader | Expert Advisors (EAs) on MetaTrader |
| Copy Trading | Yes | Yes |
| Copy Trading Platform | XM offers copy trading through its intuitive app with exclusive crypto pairs. 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. | The TradeCopier service allows aspiring investors to copy the strategies of top traders in real-time. The tool is a great way for beginners to learn from more experienced investors, whilst strategy providers can earn performance fees. |
| Social Trading | Yes | Yes |
| Trade Signals | Yes | Yes |
| VPS Hosting | Yes | Yes |
| Tournaments | Yes | Yes |
| Demo Competitions | Yes | No |
| Ethical Investing | No | No |
| Custodial Account | No | No |
| Guaranteed Stop Loss | No | No |
| Inactivity Fee | $5 | $50 |
| Islamic Account | Yes | Yes |
| Account Currencies |
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| Stock Exchanges | ||
| Commodities | ||
| CFD Trading | ||
| Overview | XM delivers for CFD traders with flexible leverage and a huge range of markets, including bespoke thematic indices for exposure to popular sectors like artificial intelligence. The MT4/MT5 platforms are also fast and dependable while a free VPS is available to qualifying XM traders running algo trading strategies. | IronFX’s asset list of 300+ instruments covers forex, stocks, commodities and index CFDs. Maximum leverage from 1:30 to 1:1000 is available depending on account location. Day traders can access superb technical analysis features, including 30 pre-integrated indicators and 9 charting time frames. |
| Leverage | 1:1000 | 1:30 (FCA), 1:30 (CySEC), 1:500 (FSCA), 1:1000 (BM) |
| FTSE Spread | 1.4 | 140 |
| GBPUSD Spread | 0.8 | 0.8 |
| Oil Spread | 0.03 | 3 |
| Stocks Spread | 1.79 (Apple) | Variable |
| Forex Trading | ||
| Overview | XM offers a strong selection of currency pairs with no re-quotes or hidden charges, while spreads have come down over the years, now starting from 0.6 pips on the EUR/USD in the commission-free account. | IronFX continues to offer a strong selection of 80 currency pairs. You can trade through the market-leading MT4 platform with a range of forex market research tools. That said, commission charges in the zero-spread accounts are high, starting from $13.50 per lot. |
| GBPUSD Spread | 0.8 | 0.8 |
| EURUSD Spread | 0.8 | 0.7 |
| EURGBP Spread | 1.5 | 0.9 |
| Assets | 55+ | 80+ |
| Currency Indices |
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| Cryptocurrency | ||
| Overview | XM offers a handful of cryptocurrencies against the USD via the South African entity only. These are tradable via CFDs with very high leverage up to 1:500, amplifying potential returns but also losses. You can day trade major tokens like Bitcoin, Ethereum and Ripple, though the suite of tokens trails the 100+ crypto derivatives at some category leaders. | Crypto trading not offered |
| Spread | Variable | – |
| Coins |
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| Crypto Lending | No | No |
| Crypto Mining | No | No |
| Crypto Staking | No | No |
| Auto Market Maker | No | No |