FXChoice vs XM
FXChoice or XM – which is better for UK traders 2024? Compare FXChoice and XM in this detailed breakdown of their platforms, features and fees.
FXChoice | XM |
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FXChoice is ranked #97 among CFD brokers. | XM is ranked #10 among CFD brokers. |
FXChoice has closed or no longer accepts UK clients.
FXChoice is a Belize-based broker established in 2010 and registered with the Financial Services Commission (FSC). The brand offers a wide selection of markets including crypto, plus the familiar MT4 and MT5 platforms. FXChoice stands out for its extra tools and perks, from LearnFx EAs to a VPS and Myfxbook's AutoTrade. New users can also claim a welcome bonus upon sign-up. |
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 | |
CFDs, Forex, Indices, Commodities, Cryptocurrencies, Shares | Forex, Stock CFDs, Turbo Stocks, Indices, Commodities, Precious Metals, Energies, Shares, Crypto, Futures |
Bonus | |
50% Welcome Deposit Bonus | |
Demo Account | |
Yes | Yes |
Minimum Deposit | |
$100 | $5 |
Payment Methods | |
Minimum Trade | |
0.01 Lots | 0.01 Lots |
Regulator | |
FSC | ASIC, CySEC, DFSA, FSC, FSCA |
Mobile Apps | |
iOS & Android | iOS, Android & Windows |
Trading App | |
MT4 and MT5 apps are available to download form the Apple and Google Play stores. Both applications offers one-click trading, advanced charts and graphs, built-in support, plus instant and pending order types. MT4 is best suited to forex beginners while MT5 will meet the needs of experienced FX traders. |
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. |
iOS App Rating | |
Android App Rating | |
Margin Trading | |
Yes | Yes |
Margin Rate | |
0.2% | |
MetaTrader 4 | |
Yes | Yes |
MetaTrader 5 | |
Yes | Yes |
cTrader | |
No | No |
AlgoTrader | |
No | No |
OmniTrader | |
No | No |
TradingView | |
No | No |
Autochartist | |
No | No |
eSignal | |
No | No |
Trading Central | |
No | No |
STP Account | |
No | No |
ECN Account | |
Yes | No |
DMA Account | |
No | No |
MAM Account | |
Yes | 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 | |
Yes | Yes |
Market Maker | |
Yes | Yes |
P2P Trading | |
No | No |
Spot Trading | |
Yes | Yes |
Auto Trading | |
Expert Advisors (EAs) on MetaTrader | Expert Advisors (EAs) on MetaTrader |
Copy Trading | |
Yes | Yes |
Copy Trading Platform | |
FXChoice has partnered with Myfxbook AutoTrade to offer copy trading to all account holders. You can find and follow the strategies of multiple traders with straightforward account management. MQL5 signals can also be used to inform buy or sell decisions. | 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 | |
Yes | Yes |
Trade Signals | |
Yes - MQL5 | Yes |
VPS Hosting | |
Yes | 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 | |
Yes | Yes |
Account Currencies | |
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Commodities | |
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CFD | |
FXChoice offers highly leveraged CFD products on a breadth of financial markets, including shares, indices, commodities and crypto. FXChoice provides more supporting tools than many alternatives, including signals, auto trading, a VPS, and a research center. | 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 | |
1:200 | 1:30 |
FTSE Spread | |
From $18.53 | 1.5 pts |
GBPUSD Spread< | |
From $8 | 1.9 |
Oil Spread | |
From $40 | 0.03 |
Stocks Spread | |
Variable | 0.002 |
Forex | |
Trade 36 forex pairs, including the EUR/USD with spreads from zero pips. FXChoice offers higher leverage on forex than most competitors, alongside 24/5 support and an accessible $10 starting deposit. | 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 | |
36 | 55+ |
GBPUSD Spread | |
From $8 | 1.9 |
EURUSD Spread | |
From $5 | 1.6 |
EURGBP Spread | |
From $6.95 | 1.8 |
Currency Indices | |
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Cryptocurrency | |
FXChoice offers trading on leading crypto cross pairs with the US Dollar. The selection of digital assets is narrow but spreads are tight starting at 0.15. | 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 | |
0.11 - 3.0 pips | Variable |
Coins | |
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Crypto Lending | |
No | No |
Crypto Mining | |
No | No |
Crypto Staking | |
No | No |
Auto Market Maker | |
Yes | No |
FXChoice | XM |
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