XM vs InstaForex - Fees Review included
Which broker is better XM or InstaForex? 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. InstaForex is one of the top brokers in the financial market with the TU Overall Score of 8.22 out of 10. Find out more about TU Overall Score.
Feature | XM | InstaForex |
---|---|---|
Overall |
4.5 |
4.5 |
4.9 |
4.5 |
|
4.3 |
3.5 |
|
4.4 |
4.6 |
|
Investment Instruments |
4.4 |
4.8 |
Platforms and Charting Tools |
4.6 |
4.4 |
Deposit and Withdrawal |
4.7 |
5 |
Research |
5 |
4.6 |
Education |
5 |
4.8 |
Support |
4.6 |
4.7 |
Bonuses |
5 |
5 |
|
|
XM vs InstaForex: 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.
InstaForex is an international company that has been providing services in the Forex currency market since 2007. Today, more than 7 million traders worldwide use the services of this broker. InstaForex offers its clients access to 300 trading instruments, such as PAMM Investment and ForexCopy system to copy trading of successful traders. The company’s activity is regulated by the British Virgin Islands Financial Services Commission (FSC) in accordance with the Securities and Investment Business Act. InstaForex has a reputation for responsible and professional trading practices. In 2016, the company received the UK Forex Best Social Broker Award, in 2018 was named the Best Forex Platform for Trading Cryptocurrency, and in 2019 Best Asian Broker and the Best Eastern European broker.
XM | InstaForex | |
---|---|---|
Overall Pros | Well-Regulated broker | Regulated Forex Broker |
Strong research tools | 2500+ trading assets | |
Strong education | Individual online training | |
Big Forex bonuses | Advances news and analytitc platforms | |
Free deposit and withdrawal | Free VPS service | |
Instant withdrawal | High exacution speed | |
1000+ trading assets | No deposit and withdrawal fees | |
Deposits in crypto | ||
$1000 No deposit bonus (Only for international entety) | ||
Overall Cons | High spreads | High spreads and trading fees |
Low exacution speed |
XM vs InstaForex: Safety and Regulation
Regulated By: | XM | InstaForex |
---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
Yes |
No |
Other Regulators |
IFSC (Belize) |
FSC (British Virgin Islands) |
XM vs InstaForex: Trading Conditions
Trading Conditions | XM | InstaForex |
---|---|---|
Minimum Deposit |
$5 |
$1 |
Trading Platforms |
MT4, MT5 |
MT4, MT5, InstaForex MultiTerminal |
Max Leverage (Futures) |
1:888, 1:30 (for EU, UK clients) |
1:1000, 1:30 (for EU clients) |
Supported Markets |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Trading assets |
1300+ |
2500+ |
Trading Accounts |
Micro, Standard, Ultra Low, Zero |
Insta.Standard, Insta.Eurica, Cent.Standard, Cent.Eurica for international entity, ECN, ECN PRO, ECN VIP - For EU entity. |
Base Account Currencies |
USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
EUR, USD |
XM vs InstaForex: Fees
Forex Trading Fees
Fee | XM | InstaForex |
---|---|---|
Standard Account EURUSD Average Spread |
1.7 pips |
3 pips |
Standard Account Fee |
$0 |
0.03-0.07% |
ECN/STP Account Fee |
Not offered |
Raw spread (Just for EU Clients) |
ECN Account EUR Average Spread |
Not offered |
Raw spread (Just for EU Clients) |
CFD Trading Fees
Fee | XM | InstaForex |
---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
Fee | XM | InstaForex |
---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
$15 after 5 months of inactivity |
$10 per month after 12 monthes without trades |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
XM vs InstaForex: Trading Assets
Asset Name | XM | InstaForex |
---|---|---|
Overall |
1300+ |
2500+ |
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 InstaForex: Investment Programs
Asset Name | XM | InstaForex |
---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
Yes |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: InstaForex or XM
XM | InstaForex | |
---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
InstaForex |
Others |
No |
No |
|
|
XM vs InstaForex: Deposit and Withdrawal Methods
Deposit and Withdrawal Method | XM | InstaForex |
---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
Yes |
XM vs InstaForex: Research
Research Type | XM | InstaForex |
---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
XM vs InstaForex: Education
Education Type | XM | InstaForex |
---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
Yes |
InstaForex vs XM: Support
Support Features | XM | InstaForex |
---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Messendgers |
XM vs InstaForex: Forex Bonuses and Promo
Promo | XM | InstaForex |
---|---|---|
Forex Bonus |
up to $5000 forex bonus, up to 100% forex deposit bonus |
$1000 no deposit bonus |
Affiliate Program |
Multi tier affiliate program |
Yes |
Other Promos |
||
|
|
Top 5 Reviews on InstaForex
-
Comment
Copying trades on InstaForex is another interesting passive income opportunity I have really been active on after learning about it. I am not saying that all the strategies I copied from the expert traders on the platform resulted in profits but a higher percentage was profitable. To be on a safer end when copying trades, it is important that you evaluate the trader's profile and performance in the market before you choose to compare them. I always assess and evaluate the traders trading history. Check how many days the trader has been trading and total profit and equity. Copy multiple traders to spread your risk and make sure the traders you follow employ a variety of trading techniques. If you would rather close your trades within a 12-hour window or the same day, then follow day traders.
-
Comment
It is important that you closely monitor the market before opening a position if you are trading within a one-day time frame. I use the Bolinger bands, stochastic oscillator, and average directional index and they are on my top indicators list when I choose the 1 day time frame. The average directional index helps me determine a trend momentum and strength, the Bollinger bands help to identify price patterns, and the stochastic oscillator compares the closing price of an instrument to the range of its price over a certain time.
-
Comment
You can immediately access the InstaForex web terminal to start trading. You can login as a client or guest. The guest account is mostly a paper account and it is one of my favorites especially when I want to test a trading strategy. The web terminal is sectioned in a very concise manner. You select between the classic to view the instrument listing and their current prices and can immediately navigate to the charts of the pairs you select by clicking on the chart symbol at the right-hand end of the listed assets. The terminal is arranged so users can identify and know where to be depending on what they want to do atthe moment. So if the MetaTrader platforms might look hectic for you as a new trader, the InstaForexForex terminal can provide with a friendly and colourful interface to trade.
-
Comment
I liked the copy trading service from InstaForex. Perhaps traders who don't have much trading experience expect to make a profit of up to 100 percent, but that's not the case! So I'm very happy to have a return of up to 20 percent per month with this service; these are good overall results.
-
Comment
InstaForex can be considered a reliable broker. I have been trading here for over a year and have withdrawn my profits more than once. There are problems, but not such as to accuse this project of fraud. The platform works almost flawlessly, although slippages and gaps sometimes occur. InstaForex withdraws profits without any problems, but you need to take fees into account.
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.
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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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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.