Written by ForexBrokers.com
In this head to head comparison of FXCM vs XM Group, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
When comparing the online brokers FXCM and XM Group, each firm stands out in different ways. FXCM, established in 1999, is publicly listed and holds an impressive ForexBrokers.com Trust Score of 95. This rating reflects its status as a highly trusted broker with four Tier-1 licenses, known for their reliability, alongside two Tier-2 licenses. Despite not being a bank, FXCM has cemented its reputable position in the trading community with its secure and established regulatory backing.
Meanwhile, XM Group, founded a decade later in 2009, offers a similarly strong presence in the market with a ForexBrokers.com Trust Score of 93. Although not publicly traded, XM Group also benefits from four sought-after Tier-1 licenses and one Tier-2 license, highlighting its commitment to trustworthiness. Both brokers align closely in terms of regulatory security, providing traders excellent options backed by stringent regulatory compliance.
| Feature |
FXCM
|
XM Group
|
|---|---|---|
| Year Founded | 1999 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 4 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
FXCM offers forex trading with pricing that is slightly above the industry average. For its EU, U.K., and Australia offerings, the average spread for the EUR/USD in May 2024 was 0.78 pips, while their St. Vincent and the Grenadines entity had higher spreads at 1.38 pips. FXCM also provides commission-based accounts with lower average spreads of 0.28 pips, excluding commissions. Active traders may benefit from discounts through FXCM's Active Trader Rebate Program, which offers rebates of $5 to $25 per million traded for those meeting the program's volumetric requirements. Despite the potential for discounts, the overall pricing may not be as competitive as other brokers like Tickmill and FP Markets. FXCM receives a 4-star rating for its commissions and fees and ranks #25 out of 63 brokers according to ForexBrokers.com.
In comparison, XM Group is known for its higher standard account spreads, but does not publish average spreads for its commission-based XM Zero account. This lack of transparency makes it difficult for potential clients to readily compare XM's fees against those of other brokers. Despite this, XM Group maintains a 4-star rating for its commissions and fees category, although it ranks lower than FXCM at #33 out of 63 brokers as per ForexBrokers.com.
When considering FXCM and XM Group for forex trading, both brokers offer unique advantages. FXCM is suited for active traders who can benefit from rebate programs, although its pricing remains slightly above the industry average. On the other hand, XM Group provides a straightforward trading experience, although information about its specific account pricing can be less accessible. Both brokers achieve a commendable 4-star rating for commissions and fees, making them strong contenders in the forex trading market.
| Feature |
FXCM
|
XM Group
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $5 |
| Average Spread EUR/USD - Standard | 0.78 | 1.6 |
| All-in Cost EUR/USD - Active | 0.78 | 0.8 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FXCM and XM Group both offer forex trading as CFDs or spot contracts, catering to those interested in trading currency pairs. FXCM provides traders with 440 tradeable symbols, including 46 forex pairs, while XM Group offers a wider selection with 1,394 tradeable symbols and 55 forex pairs. This extensive offering by XM Group indicates a broader range of choices for traders seeking to diversify their portfolios beyond just forex assets.
A significant difference between the two brokers lies in their availability of exchange-traded securities. FXCM does not offer any exchange-traded securities from either U.S. or international markets, limiting traders to CFDs rather than ownership of underlying assets. In contrast, XM Group allows clients to invest in exchange-traded securities both from U.S. and international exchanges, such as purchasing shares of Apple or Vodafone. Both brokers support copy trading and provide opportunities to trade cryptocurrency derivatives but not the actual cryptocurrencies. Overall, XM Group shines with a 4.5-star rating for its range of investments, ranking 24th out of 63 brokers, whereas FXCM receives a 3.5-star rating and holds the 47th position in the same category as per ForexBrokers.com.
| Feature |
FXCM
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 1394 |
| Forex Pairs (Total) | 46 | 55 |
| U.S. Stock Trading (Non CFD) | No | Yes |
| Int'l Stock Trading (Non CFD) | No | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
FXCM and XM Group both provide substantial options for traders exploring different platforms and tools. Each of these brokers offers a free demo account for simulated trading, allowing users to practice without risk. When it comes to proprietary platforms, FXCM has developed its own in-house software, while XM Group opts not to. Both brokers provide a Windows-based desktop download, as well as a web-based platform for trading. Copy trading is available with both providers, although FXCM offers access to ZuluTrade, differentiating it from XM Group, which does not. Both support the widely used MetaTrader 4 platform, but only XM Group offers MetaTrader 5. Neither broker supports DupliTrade.
For those interested in charting tools and indicators, FXCM and XM Group have various offerings. FXCM provides ten drawing tools compared to XM Group's fifteen. Both platforms allow traders to execute trades directly from stock charts. FXCM stands out with its customizable watch lists, featuring thirteen columns, while XM Group offers seven. In terms of ratings, FXCM is lauded for its trading platforms and tools with a five-star rating and ranks sixth out of 63 brokers by ForexBrokers.com. Meanwhile, XM Group earns a respectable four-star rating, placing thirty-first in the same category. The choice between these brokers may depend on which specific tools and features align best with a trader's personal needs and strategies.
| Feature |
FXCM
|
XM Group
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | Yes |
| MetaTrader 4 (MT4) | Yes | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | 30 |
| Charting - Drawing Tools (Total) | 10 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When it comes to mobile trading apps, both FXCM and XM Group provide users with comprehensive iPhone and Android applications that cater to investors' needs. Both platforms offer essential features, including stock and forex price alerts, as well as the ability to sync watchlist symbols across all devices, ensuring that any changes you make are updated seamlessly on your online account. Additionally, both brokers allow trendline drawing and viewing of various time frames—like daily, weekly, or intraday—on their mobile app charts.
However, FXCM stands out with its offering of 59 technical studies compared to XM Group’s 30, providing more tools for in-depth market analysis. Another point in FXCM's favor is the auto-save feature for chart drawings, which XM Group lacks. Both brokers allow users to create watchlists with real-time quotes, yet FXCM edges ahead in ratings, with a 4.5-star review compared to XM Group's 4-star rating. This distinction is reflected in their rankings by ForexBrokers.com, where FXCM is placed at #16 out of 63 brokers for mobile trading apps, while XM Group is positioned at #29. Ultimately, for traders prioritizing advanced technical studies and convenience in chart usage, FXCM offers a slightly superior mobile trading experience.
| Feature |
FXCM
|
XM Group
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | Yes |
| Watchlist Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 59 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
FXCM and XM Group both deliver essential market insights, offering daily market commentary and top-tier forex news sourced from respected names like Bloomberg and Reuters. While both brokers provide sentiment-based trading tools to show the ratios of long or short positions on various instruments, only FXCM extends its offerings with market research from TipRanks. Additionally, both brokers offer technical analysis support through Trading Central, though neither incorporates Autochartist or Acuity Trading's Signal Centre in their suite of research tools. Each platform provides an economic calendar to keep traders updated on significant global events.
When analyzing their research performance, XM Group holds a slight edge with a 5-star rating, compared to FXCM's 4.5 stars. Ranked by ForexBrokers.com, XM Group is placed at #8 out of 63 brokers, while FXCM is at #11. Both platforms deliver a robust framework for market research, but XM Group's slightly superior ranking indicates its broader appeal in this category.
| Feature |
FXCM
|
XM Group
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both FXCM and XM Group provide a wealth of learning materials to help newcomers understand forex and CFD trading. FXCM excels by offering a comprehensive set of resources including more than ten educational pieces such as articles, videos, and archived webinars specifically focused on forex and CFDs. They also provide monthly online webinars and a searchable archive for past events. What sets FXCM somewhat apart is their inclusion of an investor dictionary with over 50 definitions of key investing terms, helping to clarify complex jargon for beginners.
XM Group mirrors FXCM’s offerings with its own collection of educational content aimed at beginners, with more than ten resources covering forex and CFDs, alongside regular webinars that are also archived for later viewing. While XM Group may lack an investor dictionary, it compensates with high-quality beginner and advanced educational videos that cover a broad spectrum of trading topics. XM Group's educational efforts are highly recognized, earning them a 5-star rating and a #7 ranking out of 63 brokers for education by ForexBrokers.com, compared to FXCM’s 4.5 stars and #14 ranking. Both brokers provide strong avenues for education, making them excellent choices for those eager to learn about trading.
| Feature |
FXCM
|
XM Group
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
| Investor Dictionary (Glossary) | Yes | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that FXCM is better than XM Group. FXCM finished with an overall rank of #15, while XM Group finished with an overall rank of #17.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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XM Group
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| Overall Rating |
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| Trust Score | 95 | 93 |
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Neither FXCM nor XM Group provides the option to purchase actual delivered cryptocurrency, but both brokers offer the ability to trade in cryptocurrency derivatives.
FXCM provides a wider range of deposit and withdrawal options than XM Group, supporting ACH, SEPA, and PayPal in addition to common choices like Skrill, Visa/Mastercard, and bank wires, whereas XM Group offers Skrill, Visa/Mastercard, and bank wires, but does not support ACH, SEPA, or PayPal.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | FXCM | XM Group | |
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| Trust Score | 95 | 93 | |
| Winner | check_circle | ||
| Review | FXCM Review | XM Group Review |
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| Regulation | FXCM | XM Group | |
|---|---|---|---|
| Trust Score | 95 | 93 | |
| Year Founded | 1999 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 4 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXCM | XM Group | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | |||
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FXCM | XM Group | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | FXCM | XM Group | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 1394 | |
| Forex Pairs (Total) | 46 | 55 | |
| U.S. Stock Trading (Non CFD) | No | Yes | |
| Int'l Stock Trading (Non CFD) | No | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | FXCM | XM Group | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | 1.6 | |
| All-in Cost EUR/USD - Active | 0.78 | 0.8 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | XM Group | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $5 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FXCM | XM Group | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | Yes | |
| MetaTrader 4 (MT4) | Yes | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | FXCM | XM Group | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 13 | 7 | |
| Charting - Indicators / Studies (Total) | 115 | 30 | |
| Charting - Drawing Tools (Total) | 10 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | FXCM | XM Group | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 59 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | FXCM | XM Group | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | XM Group | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | No |
| Major Forex Pairs | FXCM | XM Group | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | FXCM Review | XM Group Review |
| Overall | FXCM | XM Group | |
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| Trust Score | 95 | 93 | |
| Winner | check_circle | ||
| Review | FXCM Review | XM Group Review |
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