fbpx
XM vs XTB - 2023 Comparison | FxScouts
AuthorAuthor: Björn Michels
Published: October 21, 2020
EditorEditor: Chris Cammack
Updated: November 15, 2023
Last Updated On November 15, 2023
Björn Michels

Trading with a reputable online broker is a crucial factor for success in the international markets. At FxScouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

Select brokers to compare

How do XM and XTB stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

XM

XTB

At FxScouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare XM and XTB, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does XM or XTB have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that XM holds one Tier 1 and three Tier 2 licences, and XTB holds one Tier 1 and two Tier 2 licences.

 

Is XTB financially regulated?

Yes XTB was founded in 2002 and is regulated by CySEC, DFSA, FCA, FSC and KNF.

 

Is XM financially regulated?

Yes XM was founded in 2009 and is regulated by ASIC, CySEC, DFSA, FSCA and FSC.

 

Based on these findings, 0 earned a higher trust rating than 0.

Does XM or XTB have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that XM and XTB have the same trading costs. 

Scroll for more detailsPreviousNext
Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
XM
111115/ 5
USD, EUR, GBP, JPY, CHF, ‎AUD, HUF, PLN, RUB, SGD, ZAR
0.70 pips
USD 7
0.60 pips
0.60 pips
0.60 pips
USD 0
XTB
111115/ 5
USD
0.70 pips
USD 7
0.70 pips
2.20 pips
1.40 pips
USD 0

 

Does XM or XTB offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, XM offers support for and XTB offers support for . 

Do the brokers offer copy trading?

In this case both XM and XTB offer copy trading.

Scroll for more detailsPreviousNext
Broker
Platform Choice
Copy Trading
Platforms
XM
11110.54.5/ 5
XTB
111104/ 5
xStation5

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that 0 offers a greater range and depth of instruments to trade than 0. 0 offers 57 Forex pairs to trade and 0 offers 57 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, XM offers 60 cryptocurrencies while XTB offers 49 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with XM.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither XM nor XTB charges a withdrawal fee. Overall, XM has better deposit and withdrawal processes than XTB. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

XM and XTB both have very good educational support. Both XM and XTB offer educational support for more experienced traders.

Scroll for more detailsPreviousNext
Broker
Beginner Course
Advanced Course
XM
XTB

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that 0 offers better research analysis than 0 and that both XM and XTB offer frequent webinars.

Scroll for more detailsPreviousNext
Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
XM
XTB

 

Our overall Verdict on XM

A popular global broker with a large customer base and a good reputation, XM is a good option for most Malaysian traders. It has some of the lowest fees in the industry, provides excellent research and education, and has a beginner-friendly trading app. It also has an outstanding range of trading tools and offers traders generous bonuses and incentives. Malaysian traders will also be pleased to note that XM offers Islamic swap-free accounts.

XM offers four trading accounts, three of which have a minimum deposit of 5 USD and have no commissions for Forex trading. The highlight is the commission-free Ultra Low Account with spreads that start at 0.6 pips (EUR/USD).

The main drawback is that XM’s Malaysian clients will be trading through XM’s company in Belize, which has poor regulatory oversight. However, Malaysian traders still have negative balance protection and can rest assured that their funds are kept in segregated accounts.

 

Our overall Verdict on XTB

A well-regulated broker, XTB will appeal to traders looking for a wide choice of tradable instruments, top-class educational materials, and excellent market analysis. However, traders should note that support is only offered for XTB’s in-house platform, xStation5.

XTB has two accounts with no minimum deposit requirements, but trading costs are slightly higher than most other brokers. XTB offers trading on over 2100 financial assets, a wider range than is typically seen at other brokers, including 57 Forex pairs. Educational support for beginners is excellent, and XTB also publishes frequent market commentary and trading ideas in its Market News section.

One drawback is that XTB no longer supports the MT4 trading platform, so all clients have to use XTB’s in-house platform, xStation 5 - though it has won awards for its functionality, fast execution speeds, and intuitive design.

Which broker has the highest overall rating?

XM has an overall rating of 4.35 and XTB has an overall rating of 4.29. For more detail please read our reviews of XM and XTB.

Stay updated

This form has double opt in enabled. You will need to confirm your email address before being added to the list.

Close
>