Page Summary
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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eToro
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. eToro AUS Capital Ltd ACN 612 791 803 AFSL 491139. OTC Derivatives are speculative and leveraged. Not suitable for all investors. Capital at risk. See PDS and TMD
XM
BROKER COMPARISON
Trading Platform & Tools
| Automated Trading | ||
| Charting Tools | ||
| Conditional Orders | ||
| cTrader | ||
| Demo Account | ||
| Desktop Platform | ||
| Max Leverage | 1:20 | 1:888 |
| MetaTrader 4 (MT4) | ||
| MetaTrader 5 (MT5) | ||
| Mobile Version | ||
| Mutual Fund Management | ||
| Proprietary Platform | ||
| Social/Copy Trading | ||
| Trading Alerts | ||
| Trading signals | ||
| Watchlist | ||
| Web Version |
Fees
| Withdrawal Fee | $5 | 0 |
| Deposit Fee | 0 | 0 |
| Inactivity Fee | $10 a month after one year | 0 |
| Cost Per Trade | $0 | 0 |
| Cost Per Month | $0 | 0 |
| Forex (EUR/USD) | 1.1 pip | 1.6 pips |
| Stocks & ETF | 0 | 0,1% – (min $5) |
| CFD (Gold) | 5 pip | 3 pips |
| Crypto | 0 | |
| Options | 0 | 0 |
| Conversion Fees | 0 | 0 |
| Misc. Fees | 0 | 0 |
| Overnight Fees |
Deposit & Withdrawal
| Minimum deposit (in UAE) | $200 | $5 |
| Bank Wire | ||
| Credit/Debit Card | ||
| Cash | ||
| Check | ||
| Islamic Account Transfer | ||
| E-payments | ||
| Paypal | ||
| Skrill | ||
| Neteller |
Assets
| Shares | 2.800 | 100 |
| ETF & Funds | 0 | 0 |
| Crypto | 30 | 0 |
| Commodities | 0 | 0 |
| Indices | 0 | 0 |
| Options | 0 | 0 |
| Futures | 0 | 0 |
| Bonds | 0 | 0 |
| Forex | 49 | 55 |
| CFD Indices & Funds | 250 | 14 |
| CFD Stocks | 2800 | 1286 |
| CFD Commodities | 54 | 14 |
| CFD Crypto | 32 | 5 |
| CFD Bonds | 0 | 0 |
| Binary Options | 0 | 0 |
| SWAPS | 0 | 0 |
| Saving Plans | 0 | 0 |
Research & Education
| Webinars | ||
| Educational Resources | ||
| Daily News Updates | ||
| Market Indepth Analysis | ||
| Pers. Training & Room | ||
| Market Research |
Customer Support
| Phone | ||
| Live Chat | ||
| 24/7 support | ||
| Multilingual | ||
| Personal Account Manager |
Winner
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:
eToro review