After spending seven months and hundreds of hours researching 43 different forex brokers
for trading FX, our team at ForexBrokers.com team collected over 6,000 data points. For this review, we will compare Dukascopy vs XM.
To compare these two FX brokers, we will first take a look at the fees charged for trading (no easy task). Not every forex broker publicizes their average spreads, spreads data can vary, as can execution policies and how commissions are charged. Specifically, is the broker a dealing desk (market maker), no dealing desk (agency broker) or are both execution methods offered (dealing desk + STP/ECN)? To simplify this research, we assessed everything for you and provide a single star rating for cost. Dukascopy is a better option with a 4.50 star rating over XM's 4.00 star rating.
Commissions and fees aside, let's take a look at regulation and currency availability. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Dukascopy and XM both are regulated in a major hub. Dukascopy nor XM are publicly traded companies. As far as how many currency pairs are available for trading, here's the answer. Dukascopy offers its clients access to 64 different currency pairs while XM has 57 available pairs, a difference of 7.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. Dukascopy and XM both offer Meta Trader. Regardless of the trading platform you use, charting should be feature rich. To help compare these two brokers, we counted the number of drawing tools and total technical indicators made available. Both Dukascopy and XM provide clients with access to 31 total charting tools. Both Dukascopy and XM provide clients with access to 51 total indicators (eg, moving averages).
Overall, Dukascopy boasts 4.50 stars versus XM's 3.50 stars. And, when it comes to individual category awards, Dukascopy finished with awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Active Trading in 2018, while XM came up with none of these.