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 IG Group 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. IG Group 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. Both IG Group and XM are regulated in a major hub. IG Group is a publicly traded company, XM isn't. As far as how many currency pairs are available for trading, here's the answer. IG Group offers its clients access to 91 different currency pairs while XM has 57 available pairs, a difference of 34.
Next, let's look at the tools and features fx traders desire. With trading platforms, forex traders are all familiar with MetaTrader. IG Group 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. IG Group trails XM by 22 total charting tools, with XM offering 31 and IG Group offering 9. IG Group trails XM by 29 total different indicators (for example, moving averages), with XM offering 51 and IG Group offering 22.
Overall, IG Group boasts 5.00 stars versus 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 and Best in Class - Mobile Trading in 2018, while XM was rated none of these.