XM Vs FxPro

Category: Broker Guides | Author: Trading Brokers | Date: April 12, 2024

Choosing the right broker is essential for traders looking to engage in the financial markets. The importance of selecting a reputable and reliable broker cannot be overstated, as it directly impacts the trading experience and overall success. With numerous brokers available, it becomes crucial to assess and compare their features and offerings to make an informed decision. This article aims to provide an in-depth analysis of XM and FxPro, two prominent brokers in the industry. By examining aspects such as regulation, trading platforms, fees, account types, trading conditions, research resources, and customer support, traders can gain valuable insights to determine which broker aligns with their trading needs and preferences.

XM Overview

XM

XM

XM is an established online broker that has gained recognition for its comprehensive trading services and commitment to providing a secure and user-friendly trading environment. With strong regulatory oversight from reputable authorities such as ASIC, CySEC, and IFSC, XM ensures compliance with strict standards. Traders can access a range of advanced trading platforms, including the popular MetaTrader 4 and MetaTrader 5 platforms, as well as XM WebTrader.


The broker offers competitive pricing with variable spreads starting from 0 pips, and a variety of account types to cater to different trading preferences. With favorable trading conditions, fast order execution, and extensive research and educational resources, XM equips traders with the tools and knowledge necessary for successful trading. Furthermore, XM’s dedicated customer support is available 24/5, providing prompt assistance and ensuring a positive trading experience. Overall, XM is a reputable broker that offers a comprehensive suite of trading services to meet the needs of traders at all levels of experience.

Pros and Cons of XM

 Pros:

  • Strong regulatory oversight
  • Wide range of trading instruments
  • Multiple trading platforms
  • Competitive pricing
  • Varied account types

Cons:

  • Limited product range – forex and CFDs only.
  • Average fees for forex and stock index CFDs.
  • Non-EU customers lack investor protection.
  • No proprietary trading platforms offered.
  • Inactivity fee after 90 days without trading.
XM Logo

XM Group is a multi-award winning globally established and regulated broker that offers tight spreads, fast execution speeds and low commission fees, for trading over 1,000 instruments on user-friendly platforms. They also provide education, market analysis tools and convenient funding options.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

FxPro Overview

FxPro

FxPro

FxPro is a reputable NDD forex broker that has been operating since 2006. The company is regulated by multiple authorities, including the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), ensuring a high level of regulatory oversight. Traders can access a wide range of trading platforms, including MetaTrader 4, MetaTrader 5, cTrader, and FxPro Edge, providing flexibility and choice. FxPro offers competitive pricing options with a variety of spreads and account types to suit different trading preferences.

With high liquidity and a diverse selection of trading instruments, FxPro provides favorable trading conditions for its clients. The broker also offers research tools such as an economic calendar, market news, technical analysis, and trading calculators to assist traders in making informed decisions. FxPro is known for its strong customer support, backed by positive reviews from its clients. Overall, FxPro is a well-established broker with a strong regulatory framework, advanced trading technology, and comprehensive research resources to support traders in their investment journey.

Pros and Cons of FxPro

Pros:

  • High liquidity and trading instruments.
  • Strong customer support backed by strong reviews.
  • Offers research tools such as an economic calendar, market news, technical analysis, and trading calculators.

 Cons

  • Limited educational resources compared to some other brokers.
  • Higher minimum deposit requirements may be a barrier for traders with smaller account sizes.
  • Availability of certain platforms may vary based on the client’s geographical location.
FxPro Logo

FxPro is a regulated online broker that offers hundreds of tradable assets on multiple sophisticated platforms; cTrader, MetaTrader and FxPro Edge. They also offer trading tools, third-party analysis and trader education. However, the spreads and fees are not the lowest.

Between 74-89% of retail investor accounts lose money when trading CFDs with this provider.

Comparison of XM and FxPro

When it comes to choosing a forex broker, XM and FxPro are two well-known options that traders often consider. Let’s compare them across various aspects to help you make an informed decision:

Regulation:

FxPro and XM are both regulated brokers, but they have different levels of regulation. FxPro has more licenses than XM, including from the UK’s FCA, Cyprus’s CySEC, South Africa’s FSCA, Dubai’s DFSA, and Belize’s IFSC. XM has licenses from the FCA, CySEC, ASIC, IFSC, and DFSA. These licenses mean that the brokers have to follow strict guidelines for transparency, security, and protection of traders’ funds. For example, both brokers segregate their clients’ funds from their own funds and use reputable banks to hold them. This way, the clients’ money is safe even if the broker faces any financial problems. FxPro also offers negative balance protection to all its clients, which means that they cannot lose more than their deposit. XM only offers this protection to EU clients.

Trading platforms:

FxPro and XM offer a diverse range of trading platforms to suit the needs and preferences of different traders. Both brokers offer the popular MT4 and MT5 platforms, which are known for their user-friendly interface, advanced charting capabilities, and extensive range of trading tools. FxPro also offers its own proprietary platform, FxPro Edge, which provides a simplified trading experience with powerful features, and Trading Central tools on MT4, which are exclusive technical analysis indicators that help traders improve their trading performance. XM also offers its own web platform, XM WebTrader, which allows convenient access to XM accounts directly from the browser, and 8 versions of MT4 and MT5 for PC, Mac, web, mobile, and tablet devices.

Pricing and fees:

FxPro aims to offer competitive pricing and transparent fee structures to its clients. They provide both fixed and variable spreads across their account types, giving traders the flexibility to choose the most suitable pricing model for their trading strategies. FxPro’s spreads are generally low, making it cost-effective for traders to execute their trades. XM also focuses on providing competitive pricing with low CFD trading fees. They offer variable spreads starting as low as 0 pips for Zero account type, enabling traders to access favorable trading conditions and potentially reduce their trading costs.

Broker Type:

XM operates as a market maker broker, acting as the counterparty to clients’ trades. As a market maker, XM provides liquidity by executing trades internally and offering competitive spreads. This allows for fast execution and the flexibility to offer fixed spreads to traders. On the other hand, FxPro operates as an STP (Straight Through Processing) broker, which means it routes clients’ orders directly to liquidity providers, such as banks and financial institutions. As an STP broker, FxPro aims to provide traders with direct market access, tight spreads, and fast execution with no conflict of interest.


Leverage:

FxPro offers leverage of up to 1:500, allowing traders to amplify their trading positions. High leverage can provide traders with the opportunity to trade larger volumes with a relatively smaller initial capital outlay. However, it’s important to note that while leverage can magnify profits, it can also increase potential losses. Traders should use leverage responsibly and consider their risk management strategies. XM, on the other hand, offers leverage of up to 1:888, giving traders the flexibility to trade large positions with a smaller margin requirement.

Asset selection:

FxPro and XM both offer a wide range of trading instruments, but XM has a more extensive product portfolio with a larger selection of asset classes and instruments. For forex trading, FxPro provides over 70 currency pairs, while XM offers over 55 currency pairs. When it comes to CFDs on stocks, FxPro offers around 150 stock CFDs, whereas XM offers over 1,200 stock CFDs from various countries. Additionally, FxPro offers over 10 commodity CFDs, and XM provides over 15 commodity CFDs, including metals, energy, and soft commodities. In the realm of cryptocurrencies, FxPro offers 5 cryptocurrency CFDs, while XM provides 6 cryptocurrency CFDs. Traders looking for a diverse selection of trading instruments may find XM’s offering more appealing due to its wider range of assets.

Minimum Deposit:

FxPro requires a minimum deposit of $100 to open an account, making it accessible to traders with different capital levels. This minimum deposit requirement allows traders to start their trading journey with a reasonable initial investment. XM, on the other hand, offers a low minimum deposit requirement, starting from $5. This makes XM attractive to traders who may have limited capital or prefer to start trading with a smaller initial deposit.

Withdrawal and Deposit methods:

Both FxPro and XM offer a variety of convenient and secure withdrawal and deposit methods. Traders can choose from options such as bank transfers, credit/debit cards, and popular e-wallets like Neteller and Skrill. These multiple payment methods provide flexibility and convenience for traders when managing their funds.

Which Should You Choose?

When choosing a broker, it is crucial to consider your individual trading preferences and needs. Assessing what you prioritize in a trading platform can help you make an informed decision. For instance, if you have limited capital and prefer a low minimum deposit requirement, XM could be a suitable option with its minimum deposit starting from $5. On the other hand, if you value advanced trading platforms and tools, FxPro offers a range of sophisticated platforms like MetaTrader 4, MetaTrader 5, cTrader, and FxPro Edge.


Traders who prioritize regulation and trustworthiness can be confident in both FxPro and XM as they are highly regulated and licensed by reputable authorities. For beginners seeking educational resources and support, XM provides comprehensive learning materials such as video tutorials and webinars.

Moreover, if you aim to trade a wide range of assets, both brokers offer various tradable instruments like forex, commodities, stocks, indices, and cryptocurrencies. Lastly, FxPro offers social trading through its SuperTrader platform, allowing traders to follow and copy successful traders’ strategies. Ultimately, the choice between XM and FxPro should be based on a thorough assessment of your personal trading preferences and requirements.

Conclusion

In conclusion, XM and FxPro are two reputable brokers that offer distinct advantages for different types of traders. XM provides a user-friendly experience and comprehensive educational resources, making it suitable for novice traders. FxPro excels in advanced trading platforms and competitive pricing, catering to more experienced traders. It is recommended to conduct further research and consider individual trading needs to make an informed decision. Choosing the right broker is crucial for a successful trading journey, and both XM and FxPro offer strong options in the market.


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