XM vs IronFX - Fees Review included
Which broker is better XM or IronFX? 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 9 out of 10. IronFX is one of the top brokers in the financial market with the TU Overall Score of 7.13 out of 10. Find out more about TU Overall Score.
| Feature | XM | IronFX |
|---|---|---|
Overall |
4.5 |
3.5 |
4.9 |
2.1 |
|
4.3 |
2.9 |
|
4.4 |
4.2 |
|
Investment Instruments |
4.4 |
4.6 |
Platforms and Charting Tools |
4.6 |
4.4 |
Deposit and Withdrawal |
4.7 |
3.7 |
Research |
5 |
3.9 |
Education |
5 |
4.7 |
Support |
4.6 |
3.9 |
Bonuses |
5 |
4.8 |
|
|
|
XM vs IronFX: 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 IronFX broker has been serving clients globally for over 10 years. It offers terms for both active and passive income. The company is registered in Bermuda, and there are no regulatory bodies and no licenses. During its tenure, the broker has received over 30 awards but doesn’t provide data on nominations. When asked about regulation, the broker's support service says that there are several licenses, including the permits of the CySEC (Cyprus) and FCA (Great Britain) regulators. Indeed, a detailed analysis reveals inconsistencies, which are described in more detail in the "Security and protection for clients of IronFX " section. Please note, that the absence of a license means that there is no protection against a broker not fulfilling its obligations and that there is no guarantee of protecting the interests of investors.
| XM | IronFX | |
|---|---|---|
| Overall Pros | Well-Regulated broker | wide range of trading assets |
| Strong research tools | variety of bonus programs and promotions | |
| Strong education | ||
| Big Forex bonuses | ||
| Free deposit and withdrawal | ||
| Instant withdrawal | ||
| 1000+ trading assets | ||
| Overall Cons | High spreads | Poor regulation |
| the information published on the site is incomplete | ||
| there are frequent slippages | ||
| periodic delay in withdrawing funds | ||
| High spreads and ECN trading fees |
XM vs IronFX: Safety and Regulation
| XM | IronFX | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
Investor protection |
£85,000 €20,000 |
€20,000 £85,000 |
FCA UK Regulation |
No |
Yes |
FINRA (U.S) |
No |
No |
BaFin (Germany) |
No |
No |
ASIC (Australia) |
No |
No |
CFTC (U.S) |
No |
No |
MAS |
No |
No |
FSCA SA |
Yes |
No |
BVI FSC |
No |
No |
VFSC |
No |
No |
FSA (Seychelles) |
Yes |
No |
XM vs IronFX: Trading Conditions
| Trading Conditions | XM | IronFX |
|---|---|---|
Minimum Deposit |
$5 |
$50 |
Trading Platforms |
MT4, MT5 |
MetaTrader 4, WebTrader |
Max Leverage (Futures) |
1:888, 1:30 (for EU, UK clients) |
1-1000 |
Supported Markets |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Currency pairs, stocks, metals, indices, futures, commodities, and cryptocurrencies |
Trading assets |
1300+ |
300+ |
Trading Accounts |
Micro, Standard, Ultra Low, Zero |
Micro, Premium, VIP, Zero Fixed, No commission, Zero Spread, Absolute Zero, demo account |
Base Account Currencies |
USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
USD, EUR, GBP, AUD, JPY, BTC, PLN, CZK JPY, BTC, PLN, and CZK |
XM vs IronFX: Fees
| XM | IronFX | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,7 |
0,7 |
Standard acc. spread EUR/USD, max pips |
1,2 |
1,2 |
ECN Commission |
3,5 |
2 |
ECN Spread EUR/USD |
0,2 |
0,4 |
Deposit fee, % |
No |
No |
Withdrawal fee, % |
No |
No |
Withdrawal fee, USD |
No |
No |
Inactivity fee, $ |
10 |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
XM vs IronFX: Trading Assets
| Asset Name | XM | IronFX |
|---|---|---|
Overall |
1300+ |
300+ |
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) |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
XM or IronFX: Investment Programs
| Asset Name | XM | IronFX |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
Yes |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: IronFX or XM
| XM | IronFX | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
No |
|
|
|
XM vs IronFX: Deposit and Withdrawal Methods
| XM | IronFX | |
|---|---|---|
Bank Wire |
Yes |
Yes |
Bank Card |
Yes |
Yes |
Neteller |
Yes |
Yes |
BTC |
Yes |
Yes |
Wise |
No |
No |
Payoneer |
No |
No |
USDT |
Yes |
Yes |
XM vs IronFX: Research
| Research Type | XM | IronFX |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
No |
XM vs IronFX: Education
| Education Type | XM | IronFX |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
IronFX vs XM: Support
| Support Features | XM | IronFX |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
XM vs IronFX: Forex Bonuses and Promo
| Promo | XM | IronFX |
|---|---|---|
Forex Bonus |
up to $5000 forex bonus, up to 100% forex deposit bonus |
"100% Unlimited Sharing Bonus" The "40% Power Bonus up to $4,000" "20% Iron Bonus up to $2,000" |
Affiliate Program |
Multi tier affiliate program |
“Introducing Broker” (IB). Opening a personal account as a broker's representative gives you an advantage in the form of extra bonuses, contests, more favorable trading terms, and rebates. |
Other Promos |
||
|
|
|
Top 5 Reviews on IronFX
-
Comment
I use it as part of my 'broker portfolio', and I recommend for all to do the same. No reason to have 1 broker for everything. This is great for gold and metals, mby some commodities, and definitely majors trading. For everything else , I just prefer not to use it, and have fun elsewhere.
-
Comment
If there wasnt such a huge history behind them, they would be just one of many, but with so many people having been first experience with them, they're obviously pretty culturaly significant, to this space. Still continuing to offer decent spreads, still #1 in terms of account number, good promos, good academy. But the support and the keeping up with whats happening inside could be better I think, they could be more proactive, and not just sit on the laurels.
-
Comment
IronFX offers trading conditions suitable for both beginners and experienced speculators. You can choose between fixed and floating spreads. Personally, I prefer working with floating spreads starting from 0.0 pips. MT4, AutoTrade, and VPS support are available — everything needed for stable trading. I’ll also highlight that the broker offers leverage up to 1:1000 on CFDs for silver and oil, which is quite rare. Despite the offshore registration, everything has been fine so far — withdrawals are stable, and I haven’t encountered any issues.
-
Comment
IronFX offers a unique TradeCopier service that lets you tap into the experience of other traders. Everything is automated, with customizable risk settings. I also liked their mobile terminal, which integrates with the client dashboard and supports VPS — convenient for trading via smartphone or tablet. The promotions and bonuses didn’t disappoint either: I received a $150 bonus on a $500 deposit. Withdrawals went smoothly — the funds were on my card within 48 hours.
-
Comment
Overall, smooth trading there. Reliable broker that has something to offer for the beginners. I did not spend much time learning the ropes.
Top 5 Reviews on XM
-
Comment
Account setup was quick and simple. I choose their MT4 trading app and can say it works pretty well. The execution speed is solid, and the spreads on the standard account are within the standards. Overall it’s been a solid experience and must say that the service here is great…
-
Comment
I discovered XM Group because of their trade copying program through MQL5. It’s very convenient for beginners: the service is integrated into MetaTrader, allowing automatic copying of top traders’ deals. I’m subscribed to one ranked trader myself — the results have been positive for three consecutive months, with an average monthly return of 8–12% at moderate risk. I paid a fixed commission for copying, and after a month, I can opt out — very convenient.
-
Comment
It’s a cool broker and it works really well especially because the support are helpful, professional and available 24/7.
-
Comment
I discovered XM Group through the Traders Union rankings — the company ranked among the top brokers. I was impressed by the range of instruments: over 1,000 tradable assets, including 55+ currency pairs, stocks, indices, commodities, and even palladium and platinum. Spreads are very tight, with no markup on most pairs. I especially appreciated the execution speed: 99.35% of orders are filled in less than a second, and I can confirm that personally — I haven’t experienced any delays or requotes. Over the past four months, I’ve made around $700 trading currencies and commodities.
-
Comment
I've been trading with XM Group for just over a year. I chose this broker based on reviews and the fact that it holds multiple licenses — ASIC, CySEC, FSC, and DFSA. I really liked the low minimum deposit of just $5, which meant I didn’t have to risk a large amount. I started with a micro account where 1 lot equals 1,000 units — perfect for beginners. I’m satisfied with the spreads: on EUR/USD they start from 0.8 pips, and there are no fees for deposits or withdrawals, which is quite rare. Over the year, I’ve withdrawn about $900 in profit — the funds arrived quickly, with a maximum wait of 2 days.
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.