FOREX BROKERS COMPARISON: EXNESS VS. XM

By | 10 October, 2019

Exness and XM have always been considered the two biggest forex brokers in the world by many traders. There are even debates on who is the better between those two. That’s why today I want to bring you the ultimate Exness vs. XM.

I will evaluate these two brokers based on the following standards of a good forex broker: reliability, trading cost, trading features, and customer care. For each standard, the highest score will be 5 and the lowest is 0. At the end of the article, the one with the higher score is the better broker.

Disclaimer: This is just the overall comparison between Exness and XM. Whoever wins may not be suitable for you. You should look at each aspect of both brokers carefully before deciding which one is more suitable for your trading style and strategy.

Exness vs XM

Who is more reliable?

When we talk about reliability, of course we have to look for forex regulation. Forex regulation is made by official financial organizations to help governments monitor the activities and business of forex brokers in their countries. To obtain a regulation, forex brokers must meet a series of standards and requirements that regulators set up to protect the traders, which are us.

In terms of forex regulations, Exness has the regulations of CySEC (Cyprus) and FCA (the United Kingdom). On the other hand, XM also has CySEC, IFSC (Belize), and ASIC (Australia). XM has more regulations than Exness so you can say that XM is more reliable.

Note: Regulation definitely represents the credibility of forex brokers. However, it keeps you safe by limiting some features of the brokers. Therefore, in terms of trading conditions, having too many regulations is not good at all. One or two trusted regulations are enough.

Points:

  • Exness: 4/5
  • XM: 5/5

Analysing XM broker

Whose cost is lower?

Now we can compare those two brokers with numbers, because we are talking about cost and fees. The two most important factors that affect the trading fee are spread and commission.

The spreads of Exness regular accounts are around 0.7 pip for the main currency pairs. Meanwhile, XM has the Ultra Low account, whose spreads are only 0.8 pip for major pairs. For other XM accounts, the spreads are pretty high, at about 1.1 to 1.3 pips.

For commission, Exness has a true ECN account, so it must charge commission, which is $5, the lowest rate in the market. XM doesn’t have a true ECN account, so there’s no comparison.

Exness doesn’t have any bonus programs, while XM has many interesting bonus programs. It has a $30 deposit bonus as well as a rebate program. So I must say XM is better than Exness when it comes to bonus and rebate.

Overall, after calculating the total trading cost of the two brokers, I draw to a conclusion that it’s a tie. Exness and XM both have 4.5 points.

Who has better trading features?

Exness’s best trading feature must be its payment system. Exness has developed a fully automatic system that can let you deposit or withdraw money in less than a minute. No other brokers can do the same thing, so I must say this is a huge plus for Exness.

XM’s best feature is its trading platform. It is one of the most advanced platforms in the market. XM provides traders with many tools and features that really help them maximize their profits.

All in all, I think Exness trading conditions are a little better than that of XM.

  • Exness: 5/5
  • XM: 4.5/5

Why Exness is the best?

Exness vs XM

Who supports customers better?

Exness supports customers 24/7 with live chat and email in multiple languages. XM can also do the same.

XM is a little better because they host many seminars and events with the aim to teach people how to trade forex safely and profitably. So I think in this category, XM is better than Exness.

  • Exness: 4.5/5
  • XM: 5/5

Exness vs. XM

So we can see the final score now. Exness has 18 points and XM has 19 points, so XM is the better forex broker when it comes to Exness vs. XM.

 

 

 

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