Our ForexBrokers.com team spent seven months and hundreds of hours assessing 43 different forex broker accounts
for trading FX. In total, over 6,000 data points were collected. For this review, we will compare IG Group vs XM.
To start this comparison, first, we will take a look at the fees charged for trading forex. It's important to note this is no easy task. Not every broker shares their average spreads, spreads can be fixed or variable (floating), execution policies differ, and brokers can act as market makers (dealers) or act as agents for execution. To simplify things, we analyzed everything for you and provide a single star rating for cost. IG Group received a rating of 4.50 stars over XM's 4.00 stars.
Cost aside, we can now turn our focus to regulation alongside currency availability. For regulation, it's very important to select a broker you can trust with your money. IG Group alongside XM are regulated in a major hub. IG Group is a publicly traded company while XM is not. How many currency pairs are available to trade? IG Group boasts an offering of 91 different currency pairs compared to XM's 57 available pairs.
To round out our comparison, let's look at the popular tools and features forex traders prefer. For platforms, some FX traders prefer MetaTrader. IG Group alongside XM offer Meta Trader. Within the trading platform, charting should be robust, so we counted the number of drawing tools and total technical indicators made available. IG Group and XM offer the same number of charting tools, 31. IG Group and XM offer the same number of indicators (eg, volume), 51.
Overall, IG Group takes the upper hand with 5.00 stars over XM's 3.50 stars. And, when it comes to individual category awards, IG Group was rated Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading and Best in Class - Investor Education in 2018, while XM was rated none of these.