Binance vs XM
Binance or XM – which is better for UK traders 2024? Compare Binance and XM in this detailed breakdown of their platforms, features and fees.
| Binance | XM |
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| Binance is ranked #82 among crypto brokers. | XM is ranked #9 among CFD brokers. |
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Binance is being sued by the SEC for a range of securities violations, including the commingling of client funds and 'wash trading' against its customers to artificially increase crypto prices. Your funds may be at risk if you trade with Binance. We do not recommend making any deposits.
Binance is one of the best-known crypto exchanges. The company is available in more than 180 countries with over 120 million registered customers. The platform offers a suite of crypto trading products, from staking and NFTs to derivatives. |
XM is a globally recognized forex and CFD broker with 10+ million clients in 190+ countries. Since 2009, this trusted broker has been known for its low fees on 1000+ instruments. XM is regulated by multiple financial bodies, including the ASIC and CySEC. |
| Pros | |
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| Cons | |
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| Awards | |
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| FCA Regulated | |
| No | No |
| Instruments | |
| Cryptos | Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures |
| Demo Account | |
| No | Yes |
| Minimum Deposit | |
| $0 | $5 |
| Payment Methods | |
| Minimum Trade | |
| $10 | 0.01 Lots |
| Regulator | |
| ASIC, CySEC, DFSA, FSC, FSCA | |
| Mobile Apps | |
| Yes | iOS, Android & Windows |
| Trading App | |
XM offer a mobile app for both Android and iOS that has been specifically tailored to each platform, maximizing the functionality of both. The app delivers the MT4 and MT5 software on the move, with full access to the broker’s 1000+ instruments. Where they shine is their dependability with minimal glitches and delays during testing. The built-in news, trading journal and push notifications also ensure you have everything you need to trade from your hand. |
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| iOS App Rating | |
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| Android App Rating | |
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| Margin Trading | |
| Yes | Yes |
| Margin Rate | |
| 0.2% | |
| MetaTrader 4 | |
| No | Yes |
| MetaTrader 5 | |
| No | Yes |
| cTrader | |
| No | No |
| AlgoTrader | |
| Yes | No |
| OmniTrader | |
| No | No |
| TradingView | |
| No | No |
| Autochartist | |
| No | No |
| eSignal | |
| No | No |
| Trading Central | |
| No | No |
| STP Account | |
| No | No |
| ECN Account | |
| No | No |
| DMA Account | |
| No | No |
| MAM Account | |
| No | No |
| PAMM Account | |
| No | No |
| LAMM Account | |
| No | No |
| Demat Account | |
| No | No |
| AI / Machine Learning | |
| No | No |
| Robo Advisor | |
| No | No |
| Negative Balance Protection | |
| No | Yes |
| Market Maker | |
| No | Yes |
| P2P Trading | |
| Yes | No |
| Spot Trading | |
| Yes | Yes |
| Auto Trading | |
| Expert Advisors (EAs) on MetaTrader | |
| Copy Trading | |
| No | Yes |
| Copy Trading Platform | |
| XM global offers a pre-integrated signals service via the MT5 platform. Aspiring investors can view detailed performance metrics and copy the trades of strategy managers. It's easy to set up, only requiring a handful of steps after logging in to your MQL5 community account. | |
| Social Trading | |
| No | Yes |
| Trade Signals | |
| Yes | |
| VPS Hosting | |
| No | Yes |
| Tournaments | |
| No | Yes |
| Demo Competitions | |
| No | No |
| Ethical Investing | |
| No | No |
| Custodial Account | |
| No | No |
| Guaranteed Stop Loss | |
| No | No |
| Inactivity Fee | |
| $5 | |
| Islamic Account | |
| No | Yes |
| Account Currencies | |
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| Commodities | |
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| CFD | |
| Traders can speculate on leveraged CFDs with zero commissions, spanning popular markets including currencies, equities and commodities. Additionally, the MetaTrader platforms collectively offer dozens of advanced technical indicators built for short-term strategies. | |
| Leverage | |
| 1:30 | |
| FTSE Spread | |
| 1.5 pts | |
| GBPUSD Spread< | |
| 1.9 | |
| Oil Spread | |
| 0.03 | |
| Stocks Spread | |
| 0.002 | |
| Forex | |
| XM offers ultra low spreads across a wide range of forex assets with no re-quotes or hidden charges. Over 50 currency pairs are available, which is above the market average and is in line with one of our top award-winners, AvaTrade. | |
| Assets | |
| 55+ | |
| GBPUSD Spread | |
| 1.9 | |
| EURUSD Spread | |
| 1.6 | |
| EURGBP Spread | |
| 1.8 | |
| Currency Indices | |
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| Cryptocurrency | |
| Binance is one of the world's largest crypto exchanges. There is a vast range of products available including Binance Pool, Staking and an NFT Marketplace. | XM offers a handful of cryptocurrencies against the USD via the South African entity only. These are tradable via CFDs with high leverage up to 1:500. You can explore major tokens like Bitcoin, Ethereum and Ripple with just a $30 deposit. |
| Spread | |
| Variable fees with account tiers | Variable |
| Coins | |
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| Crypto Lending | |
| Yes | No |
| Crypto Mining | |
| No | No |
| Crypto Staking | |
| Yes | No |
| Auto Market Maker | |
| No | No |
| Binance | XM |
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