XM Group vs FlowBank Comparison
Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 39 forex and CFD brokerages to find the best forex broker. Let's compare XM Group vs FlowBank.
Can I trust XM Group?
XM Group has a trust score of 90, giving it a "Trusted" trust label. Here's what each trust score label means:
- "Highly Trusted" (90-99) - These brokers are considered the most trustworthy firms in the industry. Simply put, we would not hesitate to open and fund an account with a Highly Trusted broker.
- "Trusted" (80-89) - These brokers are reliable and trustworthy. "Trusted" firms are a solid choice, and may simply hold fewer regulatory licences or feature different corporate structures than those brokers that have earned our top Trust Score rating.
- "Average Risk" (70-79) - Average Risk brokers are firms we generally consider to be safe, but that may warrant a closer inspection before you open and fund a live trading account. At the least, we always encourage traders to check the regulatory licenses for Average Risk firms to verify that they are regulated in their own country of residence.
- "High Risk" (60-69) - High-risk firms should be scrutinized and carefully reviewed before opening an account. These forex brokers are – in most cases – operating without credible regulatory licensing, and likely have a history of legal or financial issues. Before considering an account with a high-risk firm, we recommend checking our country guides for your country of residence to see if a more trusted broker is available.
- "Do Not Trust" (<59) - We do not recommend opening an account of any kind with a broker that earns a “Do Not Trust” rating.
Can I trust FlowBank?
FlowBank has a trust score of 77, giving it a "Average Risk" trust label.
Is XM Group a good broker?
XM Group is known for its robust educational materials and quality market research, though its range of markets and overall trading costs trail behind the best MetaTrader brokers.
Is FlowBank a good broker?
FlowBank is a relatively new forex broker that has quickly expanded its offering of investment products, and traders at FlowBank enjoy the benefits associated with holding a Swiss bank account alongside the ability to trade forex and CFDs. FlowBank is regulated in Switzerland, but lacks the additional regulatory licenses held by the most trusted brokers.
What tier-1 jurisdictions is each broker regulated in?
Tier-1 regulators go above and beyond by requiring additional capital requirements, checking in on brokers more frequently, and putting brokers through a tougher screening process. XM Group is ASIC Authorised (Australia), FCA Authorised (U.K.) and CFTC Registered (USA), while FlowBank is FINMA Authorised (Switzerland)., neither have IIROC Authorised (Canada), SFC Authorised (Hong Kong), CBI Authorised (Ireland), FSA Authorised (Japan), MAS Authorised (Singapore) and FMA Authorised (New Zealand)
What tier-2 jurisdictions is each broker regulated in? What about tier-3?
Tier-2 and tier-3 licenses are still important in evaluating the overall trustworthiness of forex brokers. As far as tier-2 licenses go, XM Group is CySEC Authorised (Cyprus), while FlowBank is none., neither have CBRC Authorised (China), SEBI Authorised (India), ISA Authorised (Israel), CBR Authorised (Russia), FSCA Authorised (South Africa), SEC Authorised (Thailand) and DFSA / Central Bank Authorised (UAE). When comparing tier-3 licenses XM Group is IFSC Authorised (Belize), while FlowBank is none., neither have SCB Authorised (Bahamas), BMA Authorised (Bermuda), FSC Authorised (British Virgin Islands), CIMA Authorised (Cayman Islands), FSC Authorised (Mauritius) and VFSC Authorised (Vanuatu).
Which broker offers more trading platforms?
For trading platforms XM Group supports a Desktop Platform (Windows), whereas FlowBank supports a Proprietary Platform and Desktop Platform (Windows)., neither have cTrader, DupliTrade and ZuluTrade
Does XM Group offer MetaTrader? Does FlowBank offer MetaTrader?
Both XM Group and FlowBank offer the whole MetaTrader suite, which consists of both MetaTrader 4 and MetaTrader 5. If you’re new to MetaTrader 4 here’s our educational guide on how to use MT4.
How do XM Group and FlowBank differ in terms of minimum deposit? What about average spreads and funding options?
XM Group requires a minimum deposit of $5, while FlowBank requires a minimum deposit of $0.00. From our testing we found XM Group offers spreads of 1.6 (Aug 2020), while FlowBank offers spreads of N/A. XM Group supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw) for popular funding options, where FlowBank supports Bank Wire (Deposit/Withdraw)., neither have PayPal (Deposit/Withdraw)
Which brokers offers more tradeable asset classes, XM Group or FlowBank?
XM Group offers a more diverse selection of investment options than FlowBank allowing you to trade Forex Trading (Spot or CFDs), Social Trading / Copy Trading, Metals, Energies, Agriculturals and U.S. Stocks (CFD)., neither have Spread Betting Looking at total tradeable symbols, XM Group has 1372, compared to 408600 from FlowBank.
Can I trade cryptocurrency with XM Group or FlowBank?
Crypto trading is popular with forex traders. Most crypto assets are offered either as the underlying physical asset or as a CFD or other derivative — including spot forex contracts. In terms of trading physical cryptocurrency neither XM Group nor FlowBank allow you to trade physical cryptocurrencies.
Who offers more research tools, XM Group or FlowBank?
In terms of research and research tools XM Group gives traders the following tools: Autochartist, Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. In comparison FlowBank has the tools listed here: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources) and Social Trading / Copy Trading.
Overall winner: XM Group
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We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.