XM vs eToro - Fees Review included
Which broker is better XM or eToro? Our expert assessment conducted according to TU’s own methodology showed that XM is one of the top brokers in the financial market with the TU Overall Score of 8.52 out of 10. eToro is one of the top brokers in the financial market with the TU Overall Score of 5.7 out of 10. Find out more about TU Overall Score.
| Feature | XM | eToro |
|---|---|---|
Overall |
4.5 |
4.8 |
4.9 |
5.0 |
|
4.3 |
4.7 |
|
4.4 |
4.9 |
|
Investment Instruments |
4.4 |
5.0 |
Platforms and Charting Tools |
4.6 |
4.1 |
Deposit and Withdrawal |
4.7 |
4.5 |
Research |
5 |
5 |
Education |
5 |
4.3 |
Support |
4.6 |
4.2 |
Bonuses |
5 |
1 |
|
|
|
XM vs eToro: Pros and Cons
XM Broker was founded in 2009. Initially, the company covered a narrow niche of the trader market, specializing exclusively in intermediary services at the foreign exchange market. It has since experienced considerable success and growth. XM is reliable and safe. It has diversified and is now an international broker operating in almost 190 countries around the world. For over a decade XM Broker has attracted 3,5 million traders, offering unique technological solutions. The company is now being recognised as the Fastest Growing Broker, the Best Forex Service Provider and various other contributing achievements. The team at XM Broker is committed to continually working hard to improve the quality of the services provided every year as they are committed to continually providing the best service to their traders.
The eToro broker is a very popular online platform for trading. Founded in 2007, the company operates as a social trading website that works with traders in dozens of countries.
| XM | eToro | |
|---|---|---|
| Overall Pros | Well-Regulated broker | Mobile app for trading from smartphones |
| Strong research tools | Highly licensed and regulated broker | |
| Strong education | eToro charges a fixed withdrawal fee of $5 USD | |
| Big Forex bonuses | The traders have access to the following trading offers: a copy trading service and ready-made portfolios with semi-automatic diversification | |
| Free deposit and withdrawal | The funds of eToro clients are held at the licensed US banks | |
| Instant withdrawal | ||
| 1000+ trading assets | ||
| Overall Cons | High spreads | Customer support can be only contacted by tickets |
XM vs eToro: Safety and Regulation
| Regulated By: | XM | eToro |
|---|---|---|
US Regulation |
No |
Yes (eToro US) |
FCA (Great Britain) |
Yes |
Yes |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
Yes |
Yes |
Other Regulators |
IFSC (Belize) |
Seychelles FSA |
XM vs eToro: Trading Conditions
| Trading Conditions | XM | eToro |
|---|---|---|
Minimum Deposit |
$5 |
$50 |
Trading Platforms |
MT4, MT5 |
eToro |
Max Leverage (Futures) |
1:888, 1:30 (for EU, UK clients) |
1:30 |
Supported Markets |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Forex, Stocks, Indices, Commodities, Crypto |
Trading assets |
1300+ |
1000+ |
Trading Accounts |
Micro, Standard, Ultra Low, Zero |
Standard, Demo |
Base Account Currencies |
USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
USD |
XM vs eToro: Fees
Forex Trading Fees
| Fee | XM | eToro |
|---|---|---|
Standard Account EURUSD Average Spread |
1.7 pips |
1 pip |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not offered |
Not supported |
ECN Account EUR Average Spread |
Not offered |
Not supported |
CFD Trading Fees
| Fee | XM | eToro |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | XM | eToro |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
$5 |
Inactivity Fee |
$15 after 5 months of inactivity |
$10 per month after 12 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
XM vs eToro: Trading Assets
| Asset Name | XM | eToro |
|---|---|---|
Overall |
1300+ |
1000+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
Yes (CFD) |
Yes |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes |
ETFs |
Yes (CFD) |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
XM or eToro: Investment Programs
| Asset Name | XM | eToro |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: eToro or XM
| XM | eToro | |
|---|---|---|
MT4 |
Yes |
No |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
eToro |
Others |
No |
No |
|
|
|
XM vs eToro: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | XM | eToro |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
Yes |
No |
XM vs eToro: Research
| Research Type | XM | eToro |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
XM vs eToro: Education
| Education Type | XM | eToro |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
eToro vs XM: Support
| Support Features | XM | eToro |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
No |
Online chat |
Yes |
Yes |
Other |
No |
No |
XM vs eToro: Forex Bonuses and Promo
| Promo | XM | eToro |
|---|---|---|
Forex Bonus |
up to $5000 forex bonus, up to 100% forex deposit bonus |
No |
Affiliate Program |
Multi tier affiliate program |
$100-250 per trader |
Other Promos |
No |
|
|
|
|
Top 5 Reviews on eToro
-
Comment
Stability in trading is the most important thing that I note in a broker’s operation. There are a lot of scams now, and finding a good broker is now very difficult. The regulator's license is important, but the company's presence on the market is more important. Entrusting the service to someone who has been operating for many years is the best idea. I have decided on eToro.
-
Comment
eToro is the first broker where I am not bothered with requotes. They haven’t occurred in 3 months even at high activity. It is clear that eToro has a thorough approach to work; the equipment is not cheap.
-
Comment
I started my eToro way back in 2020 to invest in US ETFs which at that time were not very accessible in my location. I checked their website and did a careful research before creating my account because of a number of complaints about their high fees. The website says commission is free, as with other factors which are charged in other platforms such as overnight and custody fees. Cut the story short I created an account with them and purchased one of their ETF products for an expense ratio of 0.03% at the time of sale. I thought this was such a steal price compared to an equity index feeder fund offered by a major bank brand in my area. From my estimation and confirmed by their agent as well (contacted them before posting this review), commissions from my trades averaged 0.09%, with a 0% commission structure on shares. Insanely low! This makes them my favorite platform for trading stocks.
-
Comment
Recently I completed a small experiment to test the performance of eToro and I am happy to share my conclusions. I made sure that the company really operates, quickly executes trades in the market, and withdraws profits. Although the eToro platform is not always perfect, it is still possible to make a profit on it.
-
Comment
I've been searching for a broker for a long time to comfortably trade stocks, and I'm very glad I opened an account with eToro. A big advantage is that trading fractional shares is possible. The commission for traders is no higher than with other brokers, and customer support always responds quickly, and money transfers are fast—I work with a card.
Top 5 Reviews on XM
-
Comment
I have been exclusively trading with ECN brokers and decided it is time to try a market maker for variety. I did a lot of research before signing up and XM Group was among my top three brokers in the final shortlist. I then decided to register with them. The registration process was straightforward and done within 5 minutes, and went right in for my first trade. The terminal is in MT5 and there is nothing much going on. Honestly, this is a huge plus for someone like me who prefers a no-frills platform as you can understand everything that goes on very easily. One standout feature I would like to mention is their fully-customizabl
-
Comment
XM’s registration process is by far the fastest among all the brokers I have enrolled in. I went to their website, clicked register, filled in my email and password, and my trading account was created just like that. I can already go around and explore its website features right after the account creation. Then I opted to download their XM app and went all in with the account verification which turned out to be super fast when using the app. They only asked for one identification card (a time saver) and a face scan for confirmation. Next I received an email saying that my documents have been uploaded and will be reviewed within 24 hours. Only a few minutes had gone by and I received another email confirming that my account had been verified. Love this smooth account registration process.
-
Comment
XM offers leverage ranging from 1:1 to 1000:1, which isantop feature for traders looking to open a large position with a low trading capital. but after my experience trading with leverage on XM, i think new traders should avoid trading with leverage when they newly start trading on their live account. Leverages should be a feature for experts if i am to suggest. After trying leverages on demo accounts I decided to use it on my live accounts. Eager to dip my toes into the dynamic realm of financial markets, I deposited $100 into my trading account with XM, a renowned brokerage platform. Excitedly, I decided to trade the EUR/USD currency pair, one of the most widely traded pairs in the forex market. With a leverage of 1:100, I saw an opportunity to magnify the potential profits and opened a position. The EUR/USD pair seemed promising, with positive economic indicators favoring the Euro. I was optimistic as the trade commenced, envisioning significant gains. However, the market is as unpredictable as the wind, and soon, the trade turned against my proposed strategy. The leverage, while offering the potential for amplified gains, also exposed me to higher risks. As the EUR/USD pair plummeted, so did my account balance. In the blink of an eye, my $100 deposit dwindled away as a result of the fluctuations of the forex market. I realized the importance of risk management and the need for a thorough understanding of leverage. So my approach to trading is to implement strategies that would protect my capital in the future and to use a minimum of 1:10 leverage if I must use it anytime soon.
-
Comment
Beginner traders on XM group can benefit from the rich educational tools provided on the research and education section on the platform. When you click on the research button, resources available here are grouped into three different groups. Beginners alcan start learning about Forex trading with the options available under the learning center. Resources here will help a novice learn about the XM platform Forex and CFD trading. The videos available will introduce a beginner trader to the financial markets and instruments like shares, CFDs, Forex, Crypto, pips, lots, and position size. This videos are meant to breed novice traders from level 1 trader to an expert trader.
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Comment
I initially paid $3000 to start with and an account manager demonstrated a growth of $500 in quick time. A specialist then came in and tried to get me to invest $25000 to which I bluntly denied and they tried with $20K, then $10K and even $5K to all of which I refused! They have now kept me hanging and I asked for a refund to which they are asking for more money from me and I don't know what more to do! Also as of yesterday, the site itself is DOWN!! I cannot log in anymore and the email contact i had from there, when i sent the email to check it came back saying that domain does not exist anymore!! I am at loss of words and my hard earned money unfortunately i was able to recover my money back with the help of Olivia teams get in touch with them oliviatrader 44 at gmail com WhatApp +1 (423) 248 - 2140
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eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
"Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more"
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!