Home Brokers comparison The Best Forex Broker: Plus500 or XM Group?

The Best Forex Broker: Plus500 or XM Group?

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Which is better XM Group or Plus500? For the past five months, we have been testing 30 different brokers across various services to find out the best brokers on the market today. Based on that research, we’ve found Plus500 to be more reliable than XM Group. Plus500 represents a trusted global forex broker with a user-friendly interface that helps you achieve faster results with less effort. Keep in mind that this broker doesn’t feature in-depth educational resources, trading tools, or up-to-date research data.

You can read the full Plus500 review here and the full XM review here.

All trading involves risk. More than 70% 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.

Overall Rating

FeatureXM GroupPlus500
Overall⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️
XM Group ReviewPlus500 Review
73.57% of retail CFD accounts lose money76.4% of retail CFD accounts lose money

Regulation

FeatureXM GroupPlus500
Trust Score8199
Year Founded20092008
Publicly Traded (Listed)🚫​✅
Bank🚫🚫
Tier-1 Licenses23
Tier-2 Licenses14
Tier-3 Licenses01
Authorized in the European Union

All trading involves risk. More than 70% 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

FeatureXM GroupPlus500
ASIC Authorized (Australia)
IIROC Authorized (Canada)​🚫🚫
SFC Authorized (Hong Kong)🚫🚫
FSA Authorized (Japan)​🚫🚫
MAS Authorized (Singapore)🚫
FINMA Authorized (Switzerland)🚫🚫
FCA Authorized (UK)
CFTC Registered (USA)🚫🚫

Investments

FeatureXM GroupPlus500
Forex: Spot Trading
Social Trading / Copy-Trading🚫
Currency Pairs (Total Forex pairs)5750
CFDs – Total Offered12472033
Cryptocurrency traded as actual🚫🚫
Cryptocurrency traded as CFD🚫
Offering of Investments⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️⭐️
Winner

Cost

FeatureXM GroupPlus500
Average Spread EUR/USD – Standard1.6 (as of Mar 2020)3 (Mar 2020)
All-in Cost EUR/USD – Active0.8 (Mar 2020)N/A
Active Trader or VIP Discounts🚫
Commissions & Fees⭐️⭐️⭐️⭐️⭐️⭐️⭐️
Winner

Funding

FeatureXM GroupPlus500
Minimum Initial Deposit$5-100€100
Bank Wire (Deposit/Withdraw)
Visa/Mastercard (Credit/Debit)​🚫
PayPal (Deposit/Withdraw)​🚫
Skrill (Deposit/Withdraw)

Trading Platforms

FeatureXM GroupPlus500
Proprietary Platform🚫
Desktop Platform (Windows)
Web Platform
Social Trading / Copy-Trading🚫
MetaTrader 4 (MT4)🚫
MetaTrader 5 (MT5)​✅​🚫
cTrader🚫🚫

Trading Tools

FeatureXM GroupPlus500
Virtual Trading (Demo)
Alerts – Basic Fields
Watchlists – Total Fields(MT4/MT5)10
Charting – Indicators / Studies (Total)(MT4/MT5)103
Charting – Drawing Tools (Total)(MT4/MT5)21
Charting – Trade From Chart​✅​🚫
Charting – Drawings Autosave​✅🚫
Order Type – Trailing Stop​✅​✅
Platform & Tools⭐️⭐️⭐️⭐️⭐️⭐️⭐️
Winner 

Mobile Trading

FeatureXM GroupPlus500
Android App
Apple iOS App
Trading – Forex
Trading – CFDs
Alerts – Basic Fields
Watch List
Watch List Syncing
Charting – Indicators / Studies(MT4/MT5)18
Charting – Draw Trend Lines​🚫
Charting – Trend Lines Moveable🚫🚫
Charting – Multiple Time Frames​✅
Charting – Drawings Autosave🚫🚫
Forex Calendar🚫🚫
Mobile Trading⭐️⭐️⭐️⭐️⭐️⭐️⭐️
Winner

Research

FeatureXM GroupPlus500
Daily Market Commentary🚫
Forex News (Top-Tier Sources)🚫
Weekly Webinars​🚫
AutoChartist🚫
Trading Central (Recognia)🚫🚫🚫
🚫
Delkos Research🚫🚫
Social Sentiment – Currency Pairs🚫
Economic Calendar
Research⭐️⭐️⭐️⭐️⭐️⭐️⭐️
Winner

Education

FeatureXM GroupPlus500
Has Education – Forex🚫🚫
Has Education – CFDs🚫🚫
Client Webinars🚫
Client Webinars (Archived)🚫🚫
Videos – Beginner Trading Videos🚫
Videos – Advanced Trading Videos🚫
Investor Dictionary (Glossary)🚫🚫
Education⭐️⭐️⭐️⭐️⭐️⭐️⭐️
Winner

Major Forex Pairs

FeatureXM GroupPlus500
GBP/USD
USD/JPY
EUR/USD
USD/CHF
USD/CAD
NZD/USD
AUD/USD

Overall

FeatureXM GroupPlus500
 XM Group ReviewPlus500 Review
Overall⭐️⭐️⭐️⭐️⭐️⭐️⭐️
Winner

A forex broker comparison is a complex task to complete. After hundreds of hours reviewing 30 forex and CFD brokerages, we compared them across 14 different categories to find out if Plus500 is better or worse than XM Group.

Price differences between Plus500 and XM Group

Analyzing trading prices for both CFDs and forex is not simple. That’s because not all pricing structures are the same across brokers. Through our annual broker analysis, we’ve determined that for 2020, Plus500 provides a more competitive pricing model than XM Group.

Monetary safety concerns for forex and CFDs trading with XM Group and Plus500

With the aid of more than 20 international databases, we tracked each of the 30 forex and CFD brokers on our list. Through our database search, we found out that Plus500 has three global Tier-1 licenses, and XM Group only has two. Plus500 comes with four global Tier-2 licenses, while XM Group only has one. That’s why we’ve given Plus500 a Trust Score of 99.00 while XM Group only got an 81.00.

What to choose: Plus500 or XM Group?

Since our goal is to identify the best trading broker for 2020, we analyzed each platform based on its mobile apps, research tools, and trading platform. Our research shows that XM Group provides a more user-friendly experience and excellent market research tools. Keep in mind that Plus500 offers an enhanced mobile application, which allows you to trade on the go.

Are these forex broker tools suitable for MetaTrader and copy trading?

XM Group uses the MetaTrader platform and provides tools to its traders for copy trading. Interestingly, Plus500 does not offer MetaTrader nor copy trading. That means if you are planning on using copy trading or MetaTrader in your trading, then Plus500 is not for you.

Which forex pairs and CFDs are available with Plus500 and XM Group?

XM Group provides access to 57 currency pairs (e.g., USD/EUR) while Plus500 only has 50. However, Plus500 provides access to far more CFDs (2,033) than XM Group (1247).

Verdict

Based on our research, Plus500 is more reliable at the moment than XM Group.

Plus500 compared to other brokers:

Plus500 Review
Plus500 Insights


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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