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 TickMill 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. Both TickMill and XM are rated 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. TickMill and XM both are regulated in a major hub. Neither TickMill and XM are publicly traded companies. How many currency pairs are available to trade? TickMill boasts an offering of 62 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. TickMill 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. TickMill and XM offer the same number of charting tools, 31. TickMill and XM offer the same number of indicators (eg, volume), 51.
Overall, both TickMill and XM hold a 3.50 star rating. And, when it comes to individual category awards, unfortunately, neither TickMill nor XM received awards Best in Class - Platforms & Tools, Best in Class - Research, Best in Class - Customer Service, Best in Class - Active Trading, Best in Class - Mobile Trading and Best in Class - Investor Education.