Written by ForexBrokers.com
In this head to head comparison of Interactive Brokers 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.
Interactive Brokers and XM Group are both prominent online brokers with distinct histories and regulatory standings. Founded in 1977, Interactive Brokers is a veteran in the industry and holds a leading position with a high Trust Score of 99 out of 99, as rated by ForexBrokers.com. This score highlights its status as a highly trusted brokerage firm. Notably, Interactive Brokers is publicly traded, having amassed a strong reputation over the years with 9 Tier-1 licenses, affirming its credibility on an international scale. It also operates under 2 Tier-2 licenses, adding to its reputable regulatory framework.
On the other hand, XM Group, founded in 2009, has carved out its own space in the financial market with a Trust Score of 88, which positions it as a trusted broker, according to ForexBrokers.com. XM Group maintains its recognition through owning 4 Tier-1 licenses and 1 Tier-2 license, ensuring a considerable level of trust and reliability, despite not being publicly traded. Both brokers are not classified as banks, focusing instead on delivering brokerage services under their respective regulatory guidelines, which highlights their specialization in the industry.
| Feature |
Interactive Brokers
|
XM Group
|
|---|---|---|
| Year Founded | 1977 | 2009 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 9 | 4 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Interactive Brokers stands out for its competitively low trading costs, particularly in the forex market. Forex traders can expect commissions starting as low as 0.00002 (0.2 basis points) of the U.S. dollar trade value, with a minimum of $2 per order. This can decrease to 0.08 basis points for more active traders, making it an appealing option for high-volume forex enthusiasts. However, trading smaller lots becomes relatively pricier due to the minimum charge. Interactive Brokers pools rates from 17 global interbank forex dealers, offering a commission ranging from $16 to $40 per million round turn. These features contribute to their high rating of 5 stars and rank them at #2 in ForexBrokers.com's Commissions and Fees category.
On the other hand, XM Group offers a slightly less competitive fee structure, earning them a 4-star rating in commissions and fees. They don't specifically publish average spreads for their XM Zero account, which is based on commissions. For those using a standard account, the spreads are comparatively higher, impacting its appeal to cost-sensitive traders. XM Group is positioned at #33 out of 63 brokers on ForexBrokers.com for the Commissions and Fees category.
In summary, if you're a trader prioritizing low commissions, Interactive Brokers provides a more attractive structure thanks to their per-trade commission model and volume-based discounts. However, if you are looking for a straightforward pricing plan, XM Group has its merits, though it may not be as cost-effective for every trading style compared to Interactive Brokers.
| Feature |
Interactive Brokers
|
XM Group
|
|---|---|---|
| Minimum Deposit | $0 | $5 |
| Average Spread EUR/USD - Standard | 0.59 | 1.6 |
| All-in Cost EUR/USD - Active | 0.59 | 0.8 |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | No | No |
| Skrill (Deposit/Withdraw) | No | Yes |
| Visa/Mastercard (Credit/Debit) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Interactive Brokers and XM Group both offer a variety of investments suited for different trading needs, including forex trading available as both CFDs and spot contracts. Interactive Brokers stands out with 8,500 tradeable symbols, dwarfing XM Group’s offering of 1,394 symbols, making it a preferable choice for traders seeking diverse options. When it comes to forex pairs, Interactive Brokers supports trading in 90 pairs, offering more variety compared to XM Group's 55 pairs. Both brokers allow clients to invest in exchange-traded securities in U.S. and international markets, letting traders buy shares such as Apple (NASDAQ: AAPL) and Vodafone (VOD-GB: London Stock Exchange). However, only Interactive Brokers permits the purchase of actual cryptocurrencies, whereas both platforms offer the option to trade cryptocurrency derivatives.
While Interactive Brokers refrains from offering copy trading, this feature is available with XM Group. Despite this, Interactive Brokers is celebrated for its extensive investment range, boasting a five-star rating and securing the top spot out of 63 brokers in the Range of Investments category. In contrast, while XM Group creates a reliable investment platform with a 4.5-star rating, it holds the #23 ranking in the same category. This distinction highlights Interactive Brokers as a primary choice for investors looking for expansive trading opportunities across various markets.
| Feature |
Interactive Brokers
|
XM Group
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 8500 | 1394 |
| Forex Pairs (Total) | 90 | 55 |
| U.S. Stock Trading (Non CFD) | Yes | Yes |
| Int'l Stock Trading (Non CFD) | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| Cryptocurrency (Physical) | Yes | 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.
When comparing Interactive Brokers and XM Group based on their trading platforms and tools, several key differences emerge that can help traders decide which broker better suits their needs. Both brokers offer simulated trading through free virtual demo accounts, allowing users to practice strategies without risking real money. However, Interactive Brokers has the edge when it comes to proprietary platforms with its in-house developed systems, whereas XM Group relies on popular external platforms like MetaTrader 4 and MetaTrader 5. Both brokers provide downloadable Windows-based desktop platforms and web-based trading portals, but only XM Group offers copy trading. While Interactive Brokers does not support MetaTrader, it compensates with extensive charting capabilities featuring 85 drawing tools and the ability to trade directly from a stock chart.
Interactive Brokers further distinguishes itself with a remarkable 659 columns available for personalizing watch lists, a stark contrast to XM Group's 7 columns. This extensive customization helps more advanced traders tailor their interface to their specific needs. In terms of overall ratings for trading tools, Interactive Brokers excels with a full 5-star rating, ranking 3rd out of 63 brokers according to ForexBrokers.com, while XM Group holds a respectable 4-star rating, placing 31st. These contrasts highlight Interactive Brokers as a preferred choice for those seeking comprehensive tools and platform versatility, whereas XM Group may appeal to traders looking for traditional tools with MetaTrader support and copy trading opportunities.
| Feature |
Interactive Brokers
|
XM Group
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | No |
| Desktop Platform (Windows) | Yes | Yes |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | Yes |
| MetaTrader 5 (MT5) | No | Yes |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 155 | 30 |
| Charting - Drawing Tools (Total) | 85 | 15 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 659 | 7 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Both Interactive Brokers and XM Group provide user-friendly mobile trading apps for iPhone and Android users. Traders utilizing either app can receive real-time stock and forex price alerts and enjoy watchlist symbol syncing across devices, ensuring seamless updates between their mobile app and online account. However, Interactive Brokers excels with an impressive 97 technical studies available for charting, compared to XM Group's 30. Both apps allow users to draw trendlines and view charts across various time frames, such as daily, weekly, or intraday. However, neither app saves chart drawings automatically.
For those focused on creating detailed watchlists with real-time quotes, both platforms deliver this feature efficiently. Interactive Brokers is recognized for its superior mobile app, earning a perfect 5-star rating and ranking 4th out of 63 brokers by ForexBrokers.com. Meanwhile, XM Group holds a respectable 4-star rating but falls behind in rankings, placed 29th. For traders prioritizing advanced technical analysis and overall mobile experience, Interactive Brokers might have the edge over XM Group.
| Feature |
Interactive Brokers
|
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 | 97 | 30 |
| Mobile Charting - Draw Trendlines | Yes | Yes |
| Mobile Charting - Multiple Time Frames | Yes | Yes |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | Yes |
Dive deeper: Best Forex Trading Apps.
When comparing market research offerings between Interactive Brokers and XM Group, both platforms provide daily market commentary and offer news from top-tier sources like Bloomberg and Reuters. Both brokers use tools from Trading Central for technical analysis, enabling their clients to make more informed decisions. Additionally, Interactive Brokers stands out by providing exclusive access to sentiment-based trading tools and market research from TipRanks, setting itself apart from XM Group, which does not offer these features. Moreover, Interactive Brokers includes research tools from Acuity Trading, such as the Signal Centre, which XM Group lacks. Both brokers offer an economic calendar to help traders keep abreast of global financial events.
In terms of research quality, both Interactive Brokers and XM Group have earned a solid reputation, each garnering a 5-star rating. However, when ranked by ForexBrokers.com, Interactive Brokers has a slight edge, securing the 3rd position out of 63 brokers, while XM Group ranks 8th. This indicates that while both brokers excel, Interactive Brokers has a more comprehensive suite of research tools that could give users an upper hand in their trading strategies.
| Feature |
Interactive Brokers
|
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) | Yes | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, both Interactive Brokers and XM Group shine brightly. They each provide a wide variety of learning materials specifically geared towards new traders. Both platforms offer more than 10 educational pieces, covering the essentials of forex and CFDs through articles, videos, and webinars. They also host monthly webinars and maintain a comprehensive archive of past webinars that users can access at any time. Additionally, Interactive Brokers and XM Group provide over 10 beginner videos on trading, offering a structured path for those just starting out.
For traders looking to deepen their understanding, both brokers cater to advanced learners with educational videos targeted at experienced traders. One notable difference is that Interactive Brokers includes an investor dictionary with definitions for over 50 investing terms, a feature not available with XM Group. This distinction may appeal to new investors wanting to become familiar with industry terminology. Despite this, both brokers maintain a stellar reputation for education, each earning a 5-star rating. However, Interactive Brokers edges slightly ahead in rankings, holding the #3 spot compared to XM Group's #7, as rated by ForexBrokers.com.
| Feature |
Interactive Brokers
|
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 Interactive Brokers is better than XM Group. Interactive Brokers finished with an overall rank of #2, while XM Group finished with an overall rank of #17.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
| Feature |
Interactive Brokers
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XM Group
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|---|---|---|
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| Trust Score | 99 | 88 |
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Interactive Brokers allows users to purchase actual, delivered cryptocurrency, as well as cryptocurrency derivatives, while XM Group only provides options for trading cryptocurrency derivatives and does not offer the purchase of actual cryptocurrency.
In comparing the deposit and withdrawal options of Interactive Brokers and XM Group, Interactive Brokers supports ACH, SEPA, and bank wire transfers but does not offer PayPal, Skrill, Visa, or Mastercard, while XM Group does not offer ACH or SEPA, but supports Skrill, Visa, Mastercard, and bank wire transfers; neither broker provides the option to use 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 | Interactive Brokers | XM Group | |
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| Trust Score | 99 | 88 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | XM Group Review |
| Broker Screenshots | Interactive Brokers | XM Group | |
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| Regulation | Interactive Brokers | XM Group | |
|---|---|---|---|
| Trust Score | 99 | 88 | |
| Year Founded | 1977 | 2009 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 9 | 4 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Interactive Brokers | XM Group | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (SFC Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | No | |
| Switzerland (FINMA Authorised) | Yes | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | Yes | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Interactive Brokers | XM Group | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | Yes | |
| India (SEBI Authorised) | Yes | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | Interactive Brokers | XM Group | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 8500 | 1394 | |
| Forex Pairs (Total) | 90 | 55 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| Cryptocurrency (Physical) | Yes | 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 | Interactive Brokers | XM Group | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.59 | 1.6 | |
| All-in Cost EUR/USD - Active | 0.59 | 0.8 | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | No | Yes | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | No | Yes |
| Funding | Interactive Brokers | XM Group | |
|---|---|---|---|
| Minimum Deposit | $0 | $5 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Visa/Mastercard (Credit/Debit) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | Interactive Brokers | XM Group | |
|---|---|---|---|
| Proprietary Platform | Yes | No | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | Yes | |
| MetaTrader 5 (MT5) | No | Yes | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | Interactive Brokers | XM Group | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 659 | 7 | |
| Charting - Indicators / Studies (Total) | 155 | 30 | |
| Charting - Drawing Tools (Total) | 85 | 15 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Interactive Brokers | 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 | 97 | 30 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | Yes |
| Research | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers | 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 | Interactive Brokers Review | XM Group Review |
| Overall | Interactive Brokers | XM Group | |
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| Trust Score | 99 | 88 | |
| Winner | check_circle | ||
| Review | Interactive Brokers Review | XM Group Review |
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