Is eToro better than XM Group? Both eToro and XM Group are top forex brokers in 2020. To determine which is the better of the two, we researched, tested, and compared them along with the top 30 best forex brokers over several months. We believe that when it comes to eToro vs. XM Group, eToro is the better broker for 2020 due to its user-friendly copy-trading platform. Of course, eToro is a bit more expensive, but based on our research, eToro provides superior results.
You can read the full eToro review here and the full XM review here.
All trading involves risk. More than 75% of investors lose money in Forex and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
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High Bonuses, Now With Low Spreads! |
Free Social Trading and Low Fees |
Overall Rating
|
Feature |
XM Group |
eToro |
| Rating | | |
|
| XM Group Review |
eToro Review |
|
|
73.57% of retail CFD accounts lose money |
75% of retail CFD accounts lose money |
Regulation
|
Feature |
XM Group |
eToro |
|
Trust Score |
81 |
91 |
|
Year Founded |
2009 |
2007 |
|
Publicly Traded (Listed) | | No |
|
Bank | | |
|
Tier-1 Licenses |
2 |
2 |
|
Tier-2 Licenses | 1 |
1 |
|
Tier-3 Licenses |
0 | 0 |
|
Authorized in the European Union | | |
All trading involves risk. More than 75% of investors lose money in Forex and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
Tier-1 Licenses
|
Feature |
XM Group |
eToro |
|
ASIC Authorized (Australia) | | |
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IIROC Authorized (Canada) | |
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SFC Authorized (Hong Kong) | | |
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FSA Authorized (Japan) | No | |
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MAS Authorized (Singapore) |
| |
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FINMA Authorized (Switzerland) | | |
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FCA Authorized (UK) | | |
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CFTC Registered (USA) | | |
Investments
|
Feature |
XM Group |
eToro |
|
Forex: Spot Trading | ||
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Social Trading / Copy-Trading |
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|
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Currency Pairs (Total Forex pairs) |
57 |
47 |
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CFDs – Total Offered |
1247 |
1980 |
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Cryptocurrency traded as actual |
| |
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Cryptocurrency traded as CFD | ||
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Offering of Investments | ||
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Winner |
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Cost
|
Feature |
XM Group |
eToro |
|
Average Spread EUR/USD – Standard |
1.6 (as of Mar 2020) |
3 (Mar 2020) |
|
All-in Cost EUR/USD – Active |
0.8 (Mar 2020) |
N/A |
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Active Trader or VIP Discounts |
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Commissions & Fees | | |
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Winner |
|
Funding
|
Feature |
XM Group |
eToro |
|
Minimum Initial Deposit |
$5-100 |
$200 |
|
Bank Wire (Deposit/Withdraw) |
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|
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Visa/Mastercard (Credit/Debit) | No |
|
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PayPal (Deposit/Withdraw) | No | |
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Skrill (Deposit/Withdraw) |
| |
Trading Platforms
|
Feature |
XM Group |
eToro |
|
Proprietary Platform | | |
|
Desktop Platform (Windows) |
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Web Platform |
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Social Trading / Copy-Trading | | |
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MetaTrader 4 (MT4) |
| |
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MetaTrader 5 (MT5) | Yes | No |
|
cTrader | | |
Trading Tools
|
Feature |
XM Group |
eToro |
|
Virtual Trading (Demo) | | |
|
Alerts – Basic Fields |
|
|
|
Watchlists – Total Fields |
(MT4/MT5) |
6 |
|
Charting – Indicators / Studies (Total) |
(MT4/MT5) |
66 |
|
Charting – Drawing Tools (Total) |
(MT4/MT5) |
13 |
|
Charting – Trade From Chart | Yes | No |
|
Charting – Drawings Autosave | Yes | |
|
Order Type – Trailing Stop | Yes | Yes |
|
Platform & Tools | 3* | |
|
Winner |
|
|
Mobile Trading
|
Feature |
XM Group |
eToro |
|
Android App | | |
|
Apple iOS App |
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|
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Trading – Forex |
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Trading – CFDs |
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Alerts – Basic Fields |
| |
|
Watch List |
| |
|
Watch List Syncing | | |
|
Charting – Indicators / Studies |
(MT4/MT5) |
5 |
|
Charting – Draw Trend Lines |
| No |
|
Charting – Trend Lines Moveable |
|
|
|
Charting – Multiple Time Frames | | Yes |
|
Charting – Drawings Autosave | | |
|
Forex Calendar | | |
|
Mobile Trading | | |
|
Winner |
| |
Research
|
Feature |
XM Group |
eToro |
||
|
Daily Market Commentary |
|
|
||
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Forex News (Top-Tier Sources) |
|
|
||
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Weekly Webinars |
|
No |
||
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AutoChartist |
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||
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Trading Central (Recognia) |
|
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||
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Delkos Research |
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||
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Social Sentiment – Currency Pairs |
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Economic Calendar |
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Research |
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Winner |
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Education
|
Feature |
XM Group |
eToro |
|
Has Education – Forex | | |
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Has Education – CFDs |
|
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Client Webinars |
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Client Webinars (Archived) |
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Videos – Beginner Trading Videos |
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Videos – Advanced Trading Videos |
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Investor Dictionary (Glossary) |
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Education |
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Winner |
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Major Forex Pairs
|
Feature |
XM Group |
eToro |
|
GBP/USD | | |
|
USD/JPY |
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EUR/USD |
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USD/CHF |
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|
USD/CAD |
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|
|
NZD/USD |
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|
|
AUD/USD |
|
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Overall
|
Feature |
XM Group |
eToro |
|
|
XM Group Review |
eToro Review |
|
Overall |
|
|
|
Winner |
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Analyzing various forex brokers can be challenging, but after months of testing and research, we compiled the following review.
Price differences between eToro and XM Group
When it comes to trading costs, an accurate comparison is difficult to achieve because fees, commissions, and spread data are often not easily accessible. But our annual analysis for both trading platforms revealed that XM forex has better prices.
Safety concerns for forex and CFDs trading with eToro and XM Group
Since we’re committed to keeping track of over 30 forex and CFD brokers using several international databases, we came up with the following conclusion. eToro and XM Group come with two global Tier-1 licenses and one Tier-2 license. For this reason, we rated both eToro and XM Group with a trust score of 91.00.
What to choose: eToro vs. XM Group?
After analyzing all the features and capabilities of both trading platforms, we concluded that eToro provides a better experience. The best part is that eToro comes with superior market research and an excellent mobile trading app.
Are these forex broker tools suitable for MetaTrader and copy trading?
The most common and frequently used platform for forex and CFD trading is MetaTrader 4. XM Group offers access to MetaTrader 4, while eToro does not. Copy trading is a fantastic trading style that eToro has pioneered. XM Group also offers copy trading through MetaTrader 4; however, the copy-trading platform at eToro is easier to use, faster, and more intuitive than MetaTrader 4.
Which forex pairs and CFDs are available with eToro and XM Group?
XM Group offers 57 currency pairs (e.g., USD/EUR), while eToro has only 47. However, we recommend eToro because it offers 1980 CFDs compared to XM Group, which only provides 1247. That’s a difference of over 700 financial instruments.
Verdict
When it comes to choosing between eToro and XM Group, based on our research and testing, eToro is the better broker.
eToro compared to other brokers:
Methodology
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.
Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.
Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.
Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.
Disclosure
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
