OctaFX vs XM

If you are reading this article, you’re likely having trouble deciding whether OctaFX or XM is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note.

In this OctaFX & XM review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:

• Features and Platforms
• Available Markets
• Typical Spreads and Fees
• Security and Trust
• OctaFX vs XM - Verdict

Feature	OctaFX (visit site)	XM (visit site)
Headquarter:	St. Vincent and the Grenadines	Cyprus
Regulation :	CySEC	IFSC, ASIC, CySEC, DFSA
Type of Broker:	ECN/STP	Market Maker
U.S. Clients Allowed:
Minimum Deposit:	$50	$5 or a currency equivalent
Maximum Leverage:	1:500	1:888
Commissions / Spreads:	Both	Both
Account 1:	Micro	Micro
Account 2:	Pro	Standard
Account 3:	ECN	XM Ultra-Low
Account 4:		Shares
Demo Account:
Islamic Account:
Segregated Account:
Managed Accounts:
Institutional Accounts:
Website Languages:	English Chinese Other	English Chinese Other
Support Hours:	24/7	24/7
E-mail Support:
SMS Support:
Chat:
Broker Offers:	See what OctaFX offers	See what XM offers

Features and Platforms

OctaFX executes an excellent business model, attracting more than 6.6 million accounts, not clients, since 2011 to its MT4/MT5 and cTrader trading environment. It also benefits from its proprietary copy-trading platform and a generous bonus program, including the OctaFX Status Level reward program. XM, founded in 2009, established itself as one of the best overall brokers and is home to 3.5 million clients. They benefit from upgraded MT4/MT5 trading platforms, an excellent management team, bonuses, rewards, plus excellent research and trading tools. XM also maintains a quality educational section for beginner traders.

Available Markets

One of the most distinct weaknesses at OctaFX is the asset selection, which ranks at the bottom compared to other brokers. It consists of 32 currency pairs, five cryptocurrencies, five commodities and ten index CFDs. XM provides Forex traders with 57 currency pairs, but cryptocurrencies remain notably missing. While the 15 commodities are below average, XM shines with 1,243 equity CFDs and 28 index CFDs. Completing the asset selection are 100 shares, the latest addition at XM. OctaFX fails to provided traders with a competitive asset selection. XM counters with more than 1,300 assets centered on equity trading.

Typical Spreads and Fees

b>The commission-free pricing structure at OctaFX and XM both show a minimum mark-up of 0.6 pips. It translates to a trading cost of $6.00 per 1.0 standard lot. OctaFX provides a commission-based alternative, which is more expensive at a starting spread of 0.8 pips and a commission of $6.00. CFD traders at XM transact commission-free, while direct share dealing faces a minimum cost of $10.00 or 0.10%. XM forwards all corporate actions, and traders pay swap rates on leveraged overnight positions. OctaFX advertises no swaps but charges a series of other fees to compensate for it.