Home Brokers comparison Interactive Brokers vs. XM Group

Interactive Brokers vs. XM Group

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Interactive Brokers and XM Group are leading brokerage firms with excellent services. Interactive Brokers is a safe broker with licenses from the IIROC, FINMA, FSA, FCA, MAS, SFC, and CFTC. It has a proprietary platform and a premium app. We recommend it for professionals, as it has premium platforms and services. 

XM Group is a MetaTrader-only broker with beginner-friendly services. It has licenses from the ASIC, FCA, CySEC, and IFSC. XM offers access to leading educational content and market research. It is an excellent choice for new traders who want to improve their trading knowledge. 

This article discusses the strengths and weaknesses of Interactive Brokers and XM Group. 

Broker NameInteractive BrokersXM Group
Year Founded19782009
RegulationSEC (USA), FCA (UK)ASIC, FCA, CySEC, IFSC
Tradable AssetsStock, ETF, Forex, Fund, Bond, Options, Futures,
CFD, Crypto, Warrants, Structured Products
Forex, CFD
Min Deposit$0$5-100
Min Trade$0$0
PlatformsTraders Workstation (TWS)MT4, MT5
DepositYou can open account without depositFree of charge
WithdrawalsFree of charge for the first withdrawal in calendar monthFree of charge

 

 

 

Top findings from the Interactive Brokers vs. XM Group review:  

  1. Interactive Brokers is a leading online broker with professional tools and platforms. 
  1. XM is a beginner-friendly broker with a reliable learning center. 
  1. Both brokers offer a virtual trading account to test their offering. 

Professionals choose Interactive Brokers because of its industry-leading trading tools. We recommend XM Group to new investors as it offers many learning and research materials. 

Overall Rating

FeatureInteractive BrokersXM Group
Overall4.54
Commissions & Fees4.54
Offering of Investments54
Platforms & Tools4.54
Mobile Trading44
Research4.54.5
Education44.5
Trust Score9484
WinnerYES 
 66% of retail CFD accounts lose money77.29% of retail CFD accounts lose money

Level of experience  

Professional traders choose Interactive Brokers over XM. This broker offers an impressive trading experience with its premium platforms and tools. It has some research tools, including forex news and Trading Central. 

XM Group offers the complete MetaTrader suite. It has investor trading support and a demo account for testing its services. This broker is a good choice for new traders as it has many learning tools and materials. 

Fees  

The minimum initial deposit at XM Group ranges from $5 to $100, while Interactive Brokers doesn’t charge a fee. Both brokers display transparent fee structures on their websites. 

Assets  

Interactive Brokers has 105 forex currency pairs, while XM Group offers 57 pairs. Interactive Brokers provides access to 7400 CFDs, while XM has 1273 available CFDs. 

Trading platform  

Interactive Brokers offers industry-leading desktop and web platforms. It has valuable research and educational tools, including advanced trading videos. We recommend it for experienced traders, as its platforms are challenging to learn by beginners. 

XM offers the MT4 and MT5 suites, but it doesn’t have a proprietary platform. These suites are highly customizable and user-friendly. XM has a comprehensive research center with articles, charting, and trading signals. This broker has diverse educational content, which is why it is a good choice for new investors. 

Banking services  

Banking services represent an asset when trading online. Interactive Brokers allows traders to fund their accounts with bank transfers. XM Group offers bank transfers, credit/debit cards, and Skrill. 

Final verdict  

Interactive Brokers and XM Group are leading brokerage firms. Both have strengths and weaknesses depending on your trading skills and experience. Interactive Brokers is a good fit for professionals and active traders. We recommend XM to new investors as it has many educational and research tools. 

Interactive Brokers 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.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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