XM vs FXORO - Fees Review included
Which broker is better XM or FXORO? 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. FXORO is one of the top brokers in the financial market with the TU Overall Score of 4.29 out of 10. Find out more about TU Overall Score.
| Feature | XM | FXORO |
|---|---|---|
Overall |
4.5 |
3.9 |
4.9 |
4.1 |
|
4.3 |
3.8 |
|
4.4 |
3.7 |
|
Investment Instruments |
4.4 |
1 |
Platforms and Charting Tools |
4.6 |
3.9 |
Deposit and Withdrawal |
4.7 |
4.1 |
Research |
5 |
3.9 |
Education |
5 |
4.9 |
Support |
4.6 |
4.2 |
Bonuses |
5 |
2.1 |
|
|
|
XM vs FXORO: 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.
FXORO was founded in 2012. FXORO is a brand name owned by MCA Intelifunds LTD. It is a financial firm established under the jurisdiction of the Republic of Cyprus. It is authorized and registered by the CySec with registration number 126/10. FXORO gives access to trading CFD's on various products, such as Forex, Indices, Shares, Commodities, and Cryptocurrencies. The company offers excellent trading services yet paying great attention to customer safety.
| XM | FXORO | |
|---|---|---|
| Overall Pros | Well-Regulated broker | Advanced education section |
| Strong research tools | Trading central signals | |
| Strong education | ||
| Big Forex bonuses | ||
| Free deposit and withdrawal | ||
| Instant withdrawal | ||
| 1000+ trading assets | ||
| Overall Cons | High spreads |
XM vs FXORO: Safety and Regulation
| Regulated By: | XM | FXORO |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
Yes |
No |
Other Regulators |
IFSC (Belize) |
FSA (Seychelles) |
XM vs FXORO: Trading Conditions
| Trading Conditions | XM | FXORO |
|---|---|---|
Minimum Deposit |
$5 |
$200 |
Trading Platforms |
MT4, MT5 |
MT4, Mobile Apps |
Max Leverage (Futures) |
1:888, 1:30 (for EU, UK clients) |
Up to 30:1 for retail clients and up to 400:1 for professional clients |
Supported Markets |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Forex, Precious Metals, Commodities, Indices and Share based CFDs |
Trading assets |
1300+ |
200+ |
Trading Accounts |
Micro, Standard, Ultra Low, Zero |
Fix, Floating, ECN |
Base Account Currencies |
USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
USD, EUR, GBP, CHF |
XM vs FXORO: Fees
Forex Trading Fees
| Fee | XM | FXORO |
|---|---|---|
Standard Account EURUSD Average Spread |
1.7 pips |
2 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not offered |
$6/€5/£4 per lot |
ECN Account EUR Average Spread |
Not offered |
0.2 pips |
CFD Trading Fees
| Fee | XM | FXORO |
|---|---|---|
CFD Trading Fee |
Floating spread |
Fixed or floating spread, depends on the account type |
Non-Trading Fees
| Fee | XM | FXORO |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
Wire Transfer 0-4% depending on the region, Debit/credit card, electronic wallets 0% |
Withdrawal Fee |
No |
Debit/credit card USD/ EUR/ GBP/ CHF 5, Wire transfer SEPA min USD/ EUR/ GBP/ CHF 5, max USD/ EUR/ GBP/ CHF 1405 SWIFT $35 fee for 1-700 USD, 5% fee for more than 700 USD, Electronic wallets $5/€/£ ($15/€/£ for Neteller) or 1% fee for more than 500 USD (more than $1500 for Neteller) |
Inactivity Fee |
$15 after 5 months of inactivity |
$25 per month after 3 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 FXORO: Trading Assets
| Asset Name | XM | FXORO |
|---|---|---|
Overall |
1300+ |
|
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
Yes (CFD) |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
XM or FXORO: Investment Programs
| Asset Name | XM | FXORO |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: FXORO or XM
| XM | FXORO | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
No |
|
|
|
XM vs FXORO: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | XM | FXORO |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
No |
XM vs FXORO: Research
| Research Type | XM | FXORO |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
No |
XM vs FXORO: Education
| Education Type | XM | FXORO |
|---|---|---|
Demo-account/Paper Trading |
Yes |
No |
Webinars |
Yes |
Yes |
Articles |
Yes |
No |
Videos |
Yes |
No |
Cent account |
Yes |
No |
FXORO vs XM: Support
| Support Features | XM | FXORO |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Fax |
XM vs FXORO: Forex Bonuses and Promo
| Promo | XM | FXORO |
|---|---|---|
Forex Bonus |
up to $5000 forex bonus, up to 100% forex deposit bonus |
No |
Affiliate Program |
Multi tier affiliate program |
Yes, you will get a dynamic CPA of up to $1,000 |
Other Promos |
No |
|
|
|
|
Top 5 Reviews on FXORO
-
Comment
I would like to note FXORO’s good technical support and comprehensive analytical base. For those who know how to use these tools, making money here will be much easier.
-
Comment
At first, I was skeptical about FXORO broker, as I had too many disappointments with my previous company. But it turned out that I can work with this broker. Especially after my first trade brought me a profit of $120. Now I'm thinking of increasing my deposit with FXORO. The first withdrawal went smoothly.
-
Comment
Order execution at FXORO is good. It is quick and accurate, and there are almost never slippages or non-market quotes. Spreads correspond to those stated on the website, and although they are not the tightest, they remain stable. This is important to me because I prefer to avoid surprises. I can recommend FXORO.
-
Comment
It should be noted that FXORO offers quite favorable trading conditions. Spreads are also tempting. I don't want to list all the conditions, but it is not easy for a Forex broker to achieve those. I trade here and I am satisfied.
-
Comment
I can't think of any serious problems when trading with fxoro. I consider this broker reliable in matters of regulation and insurance of client funds. As for trading, anything could happen. There were even a couple of times in three years when trades were canceled due to non-market quotes. To its credit, fxoro canceled not only profitable trades, but also unprofitable ones.
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.
-
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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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.