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FXCM vs Xtrade 2024

BrokerNotes.co

Written by BrokerNotes.co

August 24, 2023

Trying to decide between FXCM and Xtrade? We’ve taken the guesswork out of the equation with our Comparison Tool. Use our tool to compare hundreds of data points, side-by-side, to see how these two brokers stack up against each other.

Based on our extensive research, hands-on testing, and expert analysis of over a hundred data-driven variables, we've determined that, overall, FXCM ranks more highly than Xtrade.

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Compare

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Overall Rating FXCM Xtrade
Overall Rating star 8.5 /10 star 6.5 /10
Offering of Investments star 7.0 /10 star 6.5 /10
Commissions & Fees star 8.0 /10 star 5.0 /10
Platform & Tools star 9.5 /10 star 6.0 /10
Research star 8.5 /10 star 6.0 /10
Mobile Trading star 8.0 /10 star 6.0 /10
Education star 8.0 /10 star 6.5 /10
Account Type FXCM Xtrade
Standard Trade Size (100,000 units) info Yes Yes
Mini Trade Size (10,000 units) info Yes Yes
Micro Trade Size (1,000 units) info Yes Yes
Islamic Account info No No
Deposit/Withdrawal Options FXCM Xtrade
Minimum Deposit info Starts from $50 $250
Bank Wire (Deposit/Withdraw) info Yes Yes
Visa/Mastercard (Credit/Debit) info Yes Yes
PayPal (Deposit/Withdraw) info Yes No
ACH or SEPA Transfers info Yes No
Copy Trading FXCM Xtrade
Social Trading / Copy Trading info Yes No
DupliTrade info No No
ZuluTrade info Yes info No
Cryptocurrency FXCM Xtrade
Cryptocurrency (Physical) info No No
Cryptocurrency (Derivative) info Yes Yes
Bitcoin info Yes Yes
Ethereum info Yes Yes
Forex Trading (Spot or CFDs) FXCM Xtrade
Forex Trading (Spot or CFDs) info Yes Yes
Mobile Trading - Forex or CFDs info Yes Yes
Indices (Index CFDs) FXCM Xtrade
DAX info Yes Yes
Dow Jones info Yes Yes
FTSE info Yes Yes
NASDAQ 100 info Yes Yes
Nikkei info Yes Yes
SP 500 info Yes Yes
Investments FXCM Xtrade
Forex Trading (Spot or CFDs) info Yes Yes
Spread Betting info Yes No
Social Trading / Copy Trading info Yes No
Metals info Yes Yes
Energies info Yes Yes
Agriculturals info Yes Yes
ETF info No Yes
U.S. Stocks (CFD) info Yes No
Trading Platforms FXCM Xtrade
Apple iOS App info Yes Yes
Android App info Yes Yes
Proprietary Platform info Yes Yes
Desktop Platform (Windows) info Yes No
Web Platform info Yes Yes
MetaTrader 4 (MT4) info Yes No
MetaTrader 5 (MT5) info No No
Regulatory Licenses FXCM Xtrade
Tier-1 Licenses info 4 2
Australia (ASIC Authorised) info Yes Yes
Canada (CIRO Authorised) info Yes No
Hong Kong (SFC Authorised) info No No
Japan (SFC Authorised) info No No
Singapore (MAS Authorised) info No No
Switzerland (FINMA Authorised) info No No
United Kingdom (U.K.) (FCA Authorised) info Yes No
USA (CFTC Authorized) info No No
New Zealand (FMA Authorised) info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes
Tier-2 Licenses info 2 1
Tier-3 Licenses info 0 0
Research, Education FXCM Xtrade
Trading Central (Recognia) info Yes No
Forex News (Top-Tier Sources) info Yes Yes
Daily Market Commentary info Yes Yes
Autochartist info No No
Investor Dictionary (Glossary) info Yes Yes
Videos - Beginner Trading Videos info Yes No
Client Webinars (Archived) info Yes No
Trading Costs FXCM Xtrade
Minimum Deposit info Starts from $50 $250
Average Spread EUR/USD - Standard info 0.74 info N/A info
All-in Cost EUR/USD - Active info 0.74 info N/A info
Active Trader or VIP Discounts info Yes Yes
Trading Tools FXCM Xtrade
Watchlists - Total Fields info 13 9
Mobile Watchlist info Yes No
Charting - Indicators / Studies (Total) info 115 N/A
Mobile Charting - Indicators / Studies info 59 N/A
Trust Factors FXCM Xtrade
Year Founded info 1999 2003
Publicly Traded (Listed) info Yes No
Bank info No No
Regulated in one or more EU or EEA countries (MiFID). info Yes info Yes
Trust Score info 95 80
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FXCM vs Xtrade Comparison

Comparing forex brokers side by side is no easy task. Our research team has collected thousands of data points, written hundreds of thousands of words of research, and tested over 60 brokers to help you find the best forex brokers in the industry. Trying to decide between FXCM and Xtrade? Our independent database powered by our unbiased research will help you compare FXCM vs Xtrade side-by-side.

What is Trust Score?

Trust Score is a data-driven rating system that provides an at-a-glance rating of a broker’s overall trust by tracking 60+ brokers and over 100 regulatory jurisdictions across the globe. To make things clearer for everyday traders, we’ve created a five-tier system for regulators and Trust Score rating labels. Learn more about Trust Score, and check out our country guides to see the most trusted brokers in your country of residence.

Can I trust FXCM?

FXCM has a Trust Score of 95, giving it a "Highly Trusted" Trust Score Label.

Can I trust Xtrade?

Xtrade has a Trust Score of 80, giving it a "Trusted" Trust Score Label.

Is FXCM a good broker?

Founded in 1999, FXCM (a Jefferies Group company) is a long-standing brand that caters to global forex and CFD traders. FXCM offers multiple trading platforms for algorithmic trading and social copy trading, along with a proprietary platform suite (and access to MetaTrader 4). FXCM is also a great option for beginners due to its wide range of educational materials and easy-to-use platforms (including integration with the popular TradingView platform). Though the range of markets available at FXCM has increased following the addition of its share trading feature, it's worth noting that pricing at FXCM is just average.

Is Xtrade a good broker?

Founded in 2006, Xtrade is a trusted forex broker that holds multiple regulatory licenses from Tier-1 jurisdictions, boosting its overall Trust Score rating. Though Xtrade offers a proprietary platform, the MetaTrader platform suite is unavailable, and with less than 200 available symbols it just can't compete with the best forex brokers.

What Tier-1 jurisdictions is each broker regulated in?

Tier-1 is reserved for the strictest, most stringent regulatory jurisdictions in the world. Tier-1 regulators impose additional capital requirements and require a tougher initial screening process. FXCM holds regulatory licenses in the following Tier-1 jurisdictions: Australia (ASIC Authorised), Canada (CIRO Authorised) and United Kingdom (U.K.) (FCA Authorised). Xtrade, on the other hand, is licensed in these Tier-1 regulatory jurisdictions: Australia (ASIC Authorised). Neither have Hong Kong (SFC Authorised), CBI Authorised (Ireland), Japan (SFC Authorised), Singapore (MAS Authorised), New Zealand (FMA Authorised), Switzerland (FINMA Authorised) and USA (CFTC Authorized)

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, FXCM is Cyprus (CySEC Authorised), Israel (ISA Authorised) and South Africa (FSCA Authorised), while Xtrade is Cyprus (CySEC Authorised) and South Africa (FSCA Authorised).. Neither have China (CBRC Authorised), India (SEBI Authorised), Russia (CBR Authorised), Thailand (SEC Authorised) and UAE (DFSA/Central Bank Authorised). When comparing tier-3 licenses FXCM is none, while Xtrade is Belize (FSC Authorised).. Neither have Bahamas (SCB Authorised), Bermuda (BMA Authorised), British Virgin Islands (FSC Authorised), Cayman Islands (CIMA Authorised), Mauritius (FSC Authorised) and Vanuatu (VFSC Authorised).

Which broker offers more trading platforms?

Whether your broker develops its own proprietary platforms or provides access to popular third-party platforms, you should make sure you can use your preferred type of trading platform. In our testing, we found that FXCM offers a Proprietary Platform, Desktop Platform (Windows) and ZuluTrade, whereas Xtrade supports a Proprietary Platform. Neither have cTrader and DupliTrade

Does FXCM offer MetaTrader? Does Xtrade offer MetaTrader?

For MetaTrader FXCM provides MetaTrader 4 (MT4), while Xtrade provides neither of these. If MetaTrader is a must for you, read our guides on the best MT4 brokers or best MT5 brokers.. Neither have MetaTrader 5 (MT5)

How do FXCM and Xtrade differ in terms of minimum deposit? What about average spreads and funding options?

FXCM requires a minimum deposit of Starts from $50, while Xtrade requires a minimum deposit of $250. It's also important to ensure your broker accepts the funding options and deposit methods that work best for you. In our research, we've found that FXCM supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit), PayPal (Deposit/Withdraw) and Skrill (Deposit/Withdraw) for funding and deposit methods, whereas Xtrade supports Bank Wire (Deposit/Withdraw), Visa/Mastercard (Credit/Debit) and Skrill (Deposit/Withdraw)

Which broker offers more tradeable asset classes, FXCM or Xtrade?

When choosing a forex broker, it’s important to consider each broker’s available investment products and tradeable asset classes. We’ve researched each broker’s individual offering of investments to help you pick the right broker for what you want to trade. During our testing, we found that FXCM delivers a more diverse selection of investment options than Xtrade, offering tradeable asset classes and investment types such as Forex Trading (Spot or CFDs), Spread Betting, Social Trading / Copy Trading, Metals, Energies, Agriculturals and U.S. Stocks (CFD).

We also keep track of each broker’s total number of tradeable symbols; FXCM offers 440, and Xtrade offers a total of 142 tradeable symbols.

Can I trade cryptocurrency with FXCM or Xtrade?

Crypto trading has become popular among forex traders across a range of international jurisdictions. As a result, many forex brokers now offer crypto products to their clients; most crypto assets are offered either as an underlying physical asset (such as when you own actual bitcoin assets, for example) or as a derivative product like a CFD. If you are looking to trade physical cryptocurrencies, you’ll find that neither FXCM nor Xtrade allow you to trade physical cryptocurrencies.

Who offers more research tools, FXCM or Xtrade?

Market research plays a huge role in any forex trader’s ability to conduct analysis within the global forex market. We test each broker’s research offering to help you decide which broker is right for your technical or fundamental analysis needs. FXCM delivers the following research tools: Daily Market Commentary, Stock Charts, Forex News (Top-Tier Sources), Trading Central (Recognia) and Social Trading / Copy Trading. Xtrade, on the other hand, provides the tools listed here: Daily Market Commentary, Stock Charts and Forex News (Top-Tier Sources). Neither have Autochartist

Broker Reviews

Still looking for more information, read our broker reviews.

FXCM Review

Xtrade Review

Overall winner: FXCM

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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.


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