FXCC versus XM
FXCC established itself as an ECN/STP broker, offering traders the core MT4 trading platform, including the MAM module for asset management services. It has one account type for all clients without minimum deposit requirements and maximum leverage of 1:500. Beginner traders get a basic introduction to trading and quality research and trading signals.
XM caters to 5M+ traders from 190 countries. It offers traders the MT4/MT5 trading platforms, high leverage, low minimum deposits, and a well-balanced asset selection. The educational and research portfolio remains at the top of its class, and the XM execution environment, with 2.4 billion trades executed without requotes or rejections, is ideal for demanding traders.
I have conducted an in-depth review of FXCC and XM to determine which one presents the better overall choice and which traders will benefit the most at either broker.
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- FXCC versus XM - Verdict
Features and Platforms
| Features & Platforms | XM (visit site) | FXCC (visit site) |
 |  | |
| Headquarter: | Belize | Vanuatu |
Established : | 2009 | 2010 |
Retail Loss Rate: | 75.59% | Undisclosed |
Regulation: | ||
Minimum Deposit: | $5 | $0 |
Demo Account: | ||
Managed Account: | ||
Islamic Account: | ||
Inactivity Fee | $5 monthly after 90 days | No |
Deposit Fee: | Third-Party | Third-Party |
Withdrawal Fee | Third-Party | Yes + Third-Party |
Funding Methods: | 25+ | 18 |
MT4: | ||
MT5: | ||
cTrader: | ||
Proprietary Platform: | ||
Automated Trading: | ||
Social / Copy Trading: | ||
MT4/MT5 Add-ons: | ||
Guaranteed Stop Loss: | ||
Negative Balance Protection: | ||
Bonuses and Promotions: | ||
Unique Feature One: | Low trading costs | Low trading costs |
Unique Feature Two: | Excellent order execution | Daily trading signals |
Broker Offers: |
Noteworthy:
FXCC and XM share a similar core trading environment, supportive of algorithmic trading solutions. Both offer high leverage, excellent order execution, and generous bonuses, but FXCC maintains a minor edge in trading costs.
Available Markets
| Available Markets | XM | FXCC |
| Currency Pairs: | ||
Cryptocurrency Pairs: | ||
Commodities and Metals: | ||
Indices: | ||
Equities: | ||
Bonds: | ||
ETFs: | ||
Options, Futures, and Synthetics: | ||
Maximum Retail Leverage: | 1:888 | 1:500 |
Maximum Pro Leverage: | 1:888 | 1:500 |
Forex traders get a broader choice of currency pairs at FXCC versus XM, with 71 against 57, while XM lists more cryptocurrencies, with eight against 31, following XM’s recent expansion. The most notable difference between the offerings of FXCC and XM is equity trading, which FXCC does not offer. Both serve their core markets competitively.
Typical Spreads and Fees
| Typical Spreads & Fees | XM | FXCC |
Minimum Raw Spreads: | Not applicable | 0.0 pips |
Minimum Standard Spreads: | 0.6 pips | 0.0 pips |
Minimum Commission for Forex: | Commission-free | Commission-free |
Commission for Equities: | 0.10% (CFDs commission-free) | Not applicable |
Rebates: | YES | No |
Execution Type: | Market Maker | ECN/STP |
FXCC maintains an industry-leading pricing environment, offering traders commission-free access to raw spreads of 0 pips but average costs of 0.5 pips. XM has commission-free trading costs with a minimum mark-up of 0.6 pips. FXCC lists no additional costs except bank wire charges, while XM applies a $5 monthly inactivity fee after 90 days.
Security and Trust
FXCC
| Country of the Regulator | Name of the Regulator | License Number |
Cyprus | Cyprus Securities and Exchange Commission | 121/10 |
XM
| Country of the Regulator | Name of the Regulator | License Number |
Belize | International Financial Services Commission | 000261/158 |
UK | Financial Conduct Authority | 705428 |
Cyprus | Cyprus Securities and Exchange Commission | 120/10 and 256/14 |
Australia | Australian Securities and Investment Commission | 443670 |
Dubai | Dubai Financial Services Authority | F003484 |
Bahamas | Securities Commission of the Bahamas | SIA-F201 |
US | Commodity Futures Trading Commission / National Futures Association | NFA #0516820 |
FXCC and XM segregate client deposits, offer negative balance protection, and are trustworthy brokers. All non-EEA FXCC traders will deal with the unregulated but duly registered Vanuatu subsidiary, registration number 14576. The UK and Cyprus subsidiaries also offer an investor compensation fund.
XM vs FBS – Verdict
FXCC
| Pros | Cons |
| Commission-free raw spreads from 0 pips with average cost of 0.5 pips | Equity trading not available |
| One account type with no minimum deposits and high leverage | |
| Quality education for beginner traders and daily trading signals | |
| Full support for algorithmic and social |
XM
| Pros | Cons |
| Well balanced overall asset selection | Limited cryptocurrency selection |
| Upgraded MT4/MT5 trading accounts with excellent order execution statistics | |
| Low minimum deposit of $5 and maximum leverage of 1:888 | |
| Competitive commission-free trading costs from $5.00 per 1 standard lot |
XM has the edge in asset selection. It presents a compelling choice for DMA equity investors and maintains competitive trading conditions. However, FXCC offers Forex traders a better overall trading environment with a broader choice of currency pairs and lower trading costs, making it ideal for scalpers and other high-frequency trading strategies.
FAQs
What broker is better than XM?
XM remains an overall highly competitive broker, but some competitors like FXCC have slightly superior offerings for most traders. Forex traders will find the Forex trading conditions at FXCC superior to XM, with a wider selection of currency pairs and crosses, and lower trading costs.
Is XM a good broker in South Africa?
XM offers South African traders a good choice with high-quality trading tools and a product and services portfolio that supports most assets and strategies.