XM vs Mitrade

XM vs Mitrade Comparison Table 2023
XM	Mitrade
Review 4.4	Review 3.5
Traders from US not accepted See available CFD brokers	Traders from US not accepted See available CFD brokers
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.	MiTrade is a Australian CFD and forex broker with top-tier regulation from ASIC. The broker offers zero minimum deposit requirement, 24/5 customer support and a sleek proprietary platform. The brand has been recognized with global awards and has gained a client base of over 2.4 million.
Bonus Offer
$30 No Deposit Bonus When You Register A Real Account	$50 welcome bonus
Promotions
Improve The Speed & Reliability Of Your Trades With The XM VPS
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."	"Based on my extensive tests, I think MiTrade is a good choice for novice investors looking for hundreds of instruments, educational content and an award-winning bespoke trading platform."
Pros
Transparent and low fees with spreads from 0.0 pips that will protect day trading profit margins Beginner-friendly educational materials including podcasts and expert-led webinars in 16 languages 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 charting platforms available via desktop and mobile apps Reliable 24/7 customer support with fast response times during testing Hugely respected broker authorized by tier-one regulators 1000+ instruments including 50+ forex pairs No re-quotes and no rejections policy	I think the online education courses, real-time market news and expert analysis resources are extensive and will be useful for both beginners and intermediate traders The intuitive trading terminal and mobile app with in-built technical indicators, custom charting and trend analysis are notable advantages for technical traders I appreciate the zero minimum deposit requirement, plus free deposits and withdrawals and no hidden charges - ideal for traders on a budget I'm pleased to see top-tier regulatory oversight from ASIC with negative balance protection and segregated client funds for some clients I found a decent list of international payment methods including POLi, Skrill, Neteller, wire transfer and credit/debit card Responsive customer support is also available 24/5 including live chat and an online contact form
Cons
Weak regulatory oversight through the global entity Traders from the US not accepted $5 inactivity fee after 3 months VPS costs $28 per month PayPal not supported	There is only one choice of platform which I think will put MiTrade at a disadvantage compared to other brands It's disappointing that there are no advanced tools including copy trading and a VPS I'm a little hesitant that global traders will be registering with the offshore entities
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, CFD, Forex
Demo Account
Yes	Yes
Minimum Deposit
$5	$0
Trading Platforms
MT4 MT5	Own
Payment Methods
Apple Pay Credit Card Debit Card Google Wallet Neteller Perfect Money Skrill TransferWise Visa Wire Transfer	Credit Card Debit Card Mastercard POLi Skrill Visa Wire Transfer
Minimum Trade
0.01 Lots	0.01 Lots
Regulator
ASIC, CySEC, DFSA, FSC, FSCA	ASIC, FSC, CIMA
Margin Trading
Yes	No
Margin Rate
0.2%
STP Account
No	No
ECN Account
No	No
DMA Account
No	No
MAM Account
No	No
PAMM Account
No	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
No	No
Robo Advisor
No	No
Negative Balance Protection
Yes	No
Market Maker
Yes	No
P2P Trading
No	No
Spot Trading
Yes	No
Mobile Apps
iOS, Android & Windows	iOS & Android
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
Yes	No
Copy Trading Platform
XM global offers a user-friendly copy trading service. Aspiring investors can copy the trades of strategy managers. Investors can find strategy managers by viewing performance metrics and can decide how much they want to invest. Strategy managers can earn 50% of profits.
Social Trading
Yes	No
Trade Signals
Yes	No
VPS Hosting
Yes	No
Tournaments
Yes	No
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
$5
Islamic Account
Yes	No
Account Currencies
USD EUR GBP AUD JPY ZAR CHF SGD PLN HUF	USD AUD
Stock Exchanges
Australian Securities Exchange 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	Australian Securities Exchange Deutsche Boerse Euronext Hong Kong Stock Exchange Japan Exchange Group New York Stock Exchange
Commodities
Cocoa Coffee Copper Corn Cotton Gold Natural Gas Oil Silver Soybeans Sugar Wheat
CFD Trading
Speculate on rising and falling prices with leveraged CFDs spanning popular markets, including currencies, equities and commodities. Traders get very low fees and high-quality market insights to support CFD trading.	There's a decent range of 500+ CFD products on a proprietary terminal including forex, stocks, shares and commodities with competitive spreads. I appreciated the 24/5 customer support, market insights and sentiment data to help me make informed CFD trading decisions.
Leverage
1:1000	1:30 (Retail), 1:250 (Pro)
FTSE Spread
1.5 pts	3
GBPUSD Spread
1.9	1.5
Oil Spread
0.03	0.05
Stocks Spread
0.002	Variable
Forex Trading
XM offers ultra low spreads across a wide range of forex assets with no re-quotes or hidden charges. Forex can be traded 24/5 on desktop, web and mobile. Over 50 currency pairs are available including all majors.	During my tests, I was pleased to uncover 60+ major, minor and exotic currency pairs, such as EUR/USD, AUD/USD and GBP/JPY with a minimum trade size of 0.01 lots and no commission fees. I also noted no hidden fees and free access to market insights.ith leverage through Mitrade's proprietary web-based trading platform.
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	1.5
EURUSD Spread
1.6	1
EURGBP Spread
1.8	1.2
Assets
55+	60
Currency Indices
USD
Cryptocurrency
XM offers crypto trading through CFDs. This means investors can go long or short with leverage. XM offers an excellent range of cryptocurrencies, including major tokens like Bitcoin, Ethereum and Ripple.	Crypto trading not offered
Spread
Variable
Coins
BTC ETH LTC XRP BCH ADA XLM EOS NEO TRX DASH MIOTA XMR ZEC ETC BTG OMG QTUM BTT NANO AAVE ALG
Crypto Lending
No	No
Crypto Mining
No	No
Crypto Staking
No	No
Auto Market Maker
No	No

Review	Review
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