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

Feature

XM Group

Plus500

Overall

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XM Group Review

Plus500 Review


73.57% of retail CFD accounts lose money

76.4% of retail CFD accounts lose money

Regulation

Feature

XM Group

Plus500

Trust Score

81

99

Year Founded

2009

2008

Publicly Traded (Listed)

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Bank

🚫

🚫

Tier-1 Licenses

2

3

Tier-2 Licenses

1

4

Tier-3 Licenses

0

1

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

Feature

XM Group

Plus500

ASIC Authorized (Australia)

IIROC Authorized (Canada)

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🚫

SFC Authorized (Hong Kong)

🚫

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FSA Authorized (Japan)

🚫

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MAS Authorized (Singapore)

🚫

FINMA Authorized (Switzerland)

🚫

🚫

FCA Authorized (UK)

CFTC Registered (USA)

🚫

🚫

Investments

Feature

XM Group

Plus500

Forex: Spot Trading

Social Trading / Copy-Trading

🚫

Currency Pairs (Total Forex pairs)

57

50

CFDs - Total Offered

1247

2033

Cryptocurrency traded as actual

🚫

🚫

Cryptocurrency traded as CFD

🚫

Offering of Investments

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Winner


Cost

Feature

XM Group

Plus500

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

Active Trader or VIP Discounts

🚫

Commissions & Fees

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Winner


Funding

Feature

XM Group

Plus500

Minimum Initial Deposit

$5-100

€100

Bank Wire (Deposit/Withdraw)

Visa/Mastercard (Credit/Debit)

🚫

PayPal (Deposit/Withdraw)

🚫

Skrill (Deposit/Withdraw)

Trading Platforms

Feature

XM Group

Plus500

Proprietary Platform

🚫

Desktop Platform (Windows)

Web Platform

Social Trading / Copy-Trading

🚫

MetaTrader 4 (MT4)

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MetaTrader 5 (MT5)


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cTrader

🚫

🚫

Trading Tools

Feature

XM Group

Plus500

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

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Winner


Mobile Trading

Feature

XM Group

Plus500

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

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Charting - Trend Lines Moveable

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Charting - Multiple Time Frames


Charting - Drawings Autosave

🚫

🚫

Forex Calendar

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🚫

Mobile Trading

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Winner


Research

Feature

XM Group

Plus500

Daily Market Commentary

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Forex News (Top-Tier Sources)

🚫

Weekly Webinars

🚫

AutoChartist

🚫

Trading Central (Recognia)

🚫

🚫

Delkos Research

🚫

🚫

Social Sentiment - Currency Pairs

🚫

Economic Calendar

Research

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Winner


Education

Feature

XM Group

Plus500

Has Education - Forex

🚫

🚫

Has Education - CFDs

🚫

🚫

Client Webinars

🚫

Client Webinars (Archived)

🚫

🚫

Videos - Beginner Trading Videos

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Videos - Advanced Trading Videos

🚫

Investor Dictionary (Glossary)

🚫

🚫

Education

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Winner


Major Forex Pairs

Feature

XM Group

Plus500

GBP/USD

USD/JPY

EUR/USD

USD/CHF

USD/CAD

NZD/USD

AUD/USD

Overall

Feature

XM Group

Plus500


XM Group Review

Plus500 Review

Overall

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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 in 2020 than XM Group.

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