Compare forex brokers XM VS Etoro

If you're choosing between XM and Etoro forex brokers, we've compared hundreds of data points side-by-side to make finding the right broker for you easier. Is XM better than Etoro? After assessing the two forex brokers on nearly 50 different variables, we would be able to get into an informed conclusion.

XM VS ETORO

eToro
eToro Overview

eToro is an online trading platform that was founded in 2007. eToro is the pioneering online broker for social trading. They also offer self trading. They are regulated by FCA, CySEC and ASIC.

XM
XM Overview

XM is a CySEC, ASIC and IFSC regulated, multi-asset class broker offering to trade on more than 1,000+ tradable CFD’S on Forex, Stocks, Commodities, Indices, Metals and Energies on the globally-recognised trading platforms MetaTrader 4 and MetaTrader 5 for PC, Mac, Web, iOS and Android systems.

# Broker's Features XM Availability ETORO Availability
# Commissions
# Hedging
# PAMM
# Scalping
# Accepts US traders
# 24 hour trading
# Swaps
# Demo account
# Daily analysis
# Automated trading
# Mobile trading
# Trading by phone
# 1st deposit bonus
# Forex contests competitions
# Bonuses Promotions
# Interest charges on the balance
# Free education
# Expert advisors
# Partnership programs
# Trust management
# 24 hour support

The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will compare XM vs Etoro.

Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. XM offers Online Financial Trading and Investment Services Such as Forex, CFD, bitcoin, stocks, indices, commodities,, while Etoro offers Bitcoin.

Broker Type: Many types of brokers can be found in the most dynamic market in the world. XM is Broker, while Etoro is Market Maker, No dealing desk, STP.

Minimum Deposit Requirement: To compare these two FX brokers, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. XM recommended minimum capital is 5, while Etoro has a Minimum Deposit Requirement of 50.

Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. XM is regulated by ASIC, CySEC, IFSC, while Etoro regulated by NFA, CySEC, ASIC, CFTC, MiFID, FCA. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.

Account currencies: Next lets consider the Account currencies each broker offers. XM offers EUR, USD, GBP, JPY, CHF, HUF, PLN, RUB, SGD, ZAR, different account currencies for each account types, while Etoro offers EUR, USD, GBP, JPY, CHF account currencies.

Languages Available: Next lets have a look at each broker's different Language options. XM offers English, Arab, Bulgarian, Vietnamese, Greek, Indonesian, Spanish, Italian, Chinese, Korean, Malay, Deutsch, Polish, Portuguese, Russian, Turkish, French, Swede, Japanese, while Etoro offers English, French, Spanish, German, Russian, Italian Customer Support Languages.

Payment methods: Next lets have a look at each broker's payment options. XM offers Credit Cards, Netteler, Skrill, Klarna, Przelewy 2 different payment methods for each account types, while Etoro offers Credit Cards, PayPal, Wire Transfer, Bitcoin payment methods.

Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, XM makes MetaTrader 4, MetaTrader 5, XM Webtrader available to clients, while Etoro offers eToro webTrader, etoro Openbook, eToro Mobile Trad.

The Verdict: XM or Etoro?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, XM is more reliable based on our criteria above. Only XM Offers the MetaTrader Platform. MetaTrader platform is a comprehensive trading platform that is often touted as being the best for forex trading. A popular, versatile and unique tool. XM offers a wider range of platforms making it easier for the traders to choose one that matches their needs most. XM offers a wider range of Account currencies. Why does base currencies matter? Because if you fund your account in the same currency as your bank account, currency conversion fees won't be charged. Customer service in your national language might not be a major concern for traders based in English-speaking countries, but it is a defining requirement for traders from other regions such as Asia and South America. XM has a wider range of languages in which customer service is offered making the broker more accessible. Only XM provides training and education resources which is extremely critical to beginner traders who may not be familiar with most of what goes on in the Forex markets.

What We Really Like on XM

XM has low trading fees. The account opening is user-friendly and fast. From a demo account to webinars, you can use a lot of educational tools.

What We Don’t Like on Etoro

eToro has an unreliable customer service, and its trading platform freezes sometimes. Also, education tools are very limited.

What We’d Like More on XM

XM has a limited product portfolio as it offers only CFDs, forex, and crypto. The research tools are limited as no fundamental data and news are provided. Lastly, it charges a monthly $5 fee after 90 days of inactivity.

Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.