XM vs NordFX - Fees Review included
Which broker is better XM or NordFX? 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. NordFX is one of the top brokers in the financial market with the TU Overall Score of 7.1 out of 10. Find out more about TU Overall Score.
| Feature | XM | NordFX |
|---|---|---|
Overall |
4.5 |
4.1 |
4.9 |
3.5 |
|
4.3 |
4.5 |
|
4.4 |
3.6 |
|
Investment Instruments |
4.4 |
5 |
Platforms and Charting Tools |
4.6 |
4.5 |
Deposit and Withdrawal |
4.7 |
4.4 |
Research |
5 |
4 |
Education |
5 |
4.2 |
Support |
4.6 |
4.4 |
Bonuses |
5 |
3.8 |
|
|
|
XM vs NordFX: 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.
NordFX is an international company founded in 2008. Over the years, the broker has been awarded over 50 prestigious awards and various prizes. You can find below a shortlist of the company's achievements over the past decade. In 2020, NordFX received the “Best Platform for Central Asset Accounts” award. Earlier in the year, its affiliate program received this award as well as the social trading platform award. According to the Masterforex-V Academy, NordFX became the best world broker in 2019. In 2018, it was declared the Best Broker in Asia. Since 2011, its bonus programs, promotions, and partner programs have regularly been recognized as the best in Asia. The high quality of service was noted and NordFX was recognized as the “Best Forex broker in China” for the quality of its dealing. NordFX operates in nearly 190 countries and has over 1.25 million trading accounts. The company offers services for active and passive trading on the Forex market. It operates under the jurisdiction of the British Virgin Islands.
| XM | NordFX | |
|---|---|---|
| Overall Pros | Well-Regulated broker | Saving account for investors |
| Strong research tools | Copy trading and PAMM are available | |
| Strong education | Zero spread account for active traders | |
| Big Forex bonuses | Attractive affiliate program | |
| Free deposit and withdrawal | Free trading signals | |
| Instant withdrawal | Free VPS | |
| 1000+ trading assets | Deposits in crypto | |
| Overall Cons | High spreads | Offshore regulation |
| Only 35 supported FX pairs | ||
| High card withdrawal fee |
XM vs NordFX: Safety and Regulation
| Regulated By: | XM | NordFX |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
Yes |
No |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
Yes |
No |
Other Regulators |
IFSC (Belize) |
VFSC (Vanuatu) |
XM vs NordFX: Trading Conditions
| Trading Conditions | XM | NordFX |
|---|---|---|
Minimum Deposit |
$5 |
$10 |
Trading Platforms |
MT4, MT5 |
МТ4, MT5, MultiTerminal, NordFx Mobile |
Max Leverage (Futures) |
1:888, 1:30 (for EU, UK clients) |
1-1000 |
Supported Markets |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Forex, CFDs on indices, stocks, commodities, crypto, metals |
Trading assets |
1300+ |
100+ |
Trading Accounts |
Micro, Standard, Ultra Low, Zero |
Fix, Pro, Zero, Savings |
Base Account Currencies |
USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
USD |
XM vs NordFX: Fees
Forex Trading Fees
| Fee | XM | NordFX |
|---|---|---|
Standard Account EURUSD Average Spread |
1.7 pips |
1.2 pips |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not offered |
0.0035% per lot (3.5 USD) |
ECN Account EUR Average Spread |
Not offered |
0.3 pips |
CFD Trading Fees
| Fee | XM | NordFX |
|---|---|---|
CFD Trading Fee |
Floating spread |
Crypto pairs - 0.06% Other CFDs - 0,005% |
Non-Trading Fees
| Fee | XM | NordFX |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
4% - Card Withdrawal, 0-5% - Payment services, 0% - Bank Transfer |
Inactivity Fee |
$15 after 5 months of inactivity |
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 NordFX: Trading Assets
| Asset Name | XM | NordFX |
|---|---|---|
Overall |
1300+ |
100+ |
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 NordFX: Investment Programs
| Asset Name | XM | NordFX |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
Yes |
Managed Accounts |
No |
Yes |
Other |
No |
No |
Trading Platforms: NordFX or XM
| XM | NordFX | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
NordFx Mobile |
Others |
No |
No |
|
|
|
XM vs NordFX: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | XM | NordFX |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
No |
XM vs NordFX: Research
| Research Type | XM | NordFX |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
Yes |
XM vs NordFX: Education
| Education Type | XM | NordFX |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
Yes |
NordFX vs XM: Support
| Support Features | XM | NordFX |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
XM vs NordFX: Forex Bonuses and Promo
| Promo | XM | NordFX |
|---|---|---|
Forex Bonus |
up to $5000 forex bonus, up to 100% forex deposit bonus |
Referal bonus 10% |
Affiliate Program |
Multi tier affiliate program |
Up to 60% of referrals spread |
Other Promos |
||
|
|
|
Top 5 Reviews on NordFX
-
Comment
Before opening an account with NordFX and transferring my money here, I studied reviews of this broker and I found many positive reviews. Moreover, the broker offers normal trading and that is why I work with this company.
-
Comment
This company NordFX is known for canceling a trader's profit without any explanation. This happened to me. While trading with an initial deposit of $600, I was able to increase the amount to $1480. All trading was done manually. And then I received an email stating that I had violated some conditions and my profit would be canceled. They only returned my initial deposit. And do you think they returned the entire amount? No, they deducted a 5% commission and an additional fixed penalty. Later, I found out that there are many such cases with NordFX. This company deceived not only me!
-
Comment
A major issue with NordFX is the price charts. During strong market movements, the platform may not work for several hours. I miss the most crucial moment for earning. At night, the GBPUSD pair stays motionless for two hours. Then, movement suddenly starts with a price gap. Opening an order at the desired price with NordFX is very problematic. Therefore, personally, I do not recommend dealing with this company!
-
Comment
At NordFX, there are frequent issues with the trading terminal. Firstly, there are freezes during the release of important news. In such cases, an order may open after a significant price gap, resulting in substantial losses for me. Secondly, I can't understand why the NordFX terminal stops working at different times. This can happen at the most inconvenient moments, and, of course, I incur losses. The support team does not address terminal issues; they simply suggest changing my internet provider.
-
Comment
I encountered a problem opening orders with NordFX. I try to trade actively, and it is important for me to open orders strictly at the stated price. But NordFX, even when opening an order, indicates that the price may differ from the stated one. But I had no idea that the difference would be that huge. First, orders open with delays. Second, the difference between the asking price and the opening price can be 6 pips higher. And this is even in a calm market. On strong movements the difference is significant.
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.