Comparing FxGrow and Admirals A 2023 Broker Comparison
Step right up and witness the ultimate showdown of the heavyweight champions of the financial world! In this comparison article, we’ll be pitting two of the biggest brokerages in the game – XM and eToro – against each other. We’ll leave no stone unturned as we delve deep into the inner workings of both companies, dissecting their strengths, weaknesses, and unique features. No matter your expertise in the industry, this guide will help you make an informed decision on which brokerage is the right fit for you.
Head to Head:
eToro and XM Battle for Trading Supremacy
Since its launch in 2007, eToro has been a game-changer in the financial industry, thanks to its pioneering social investment approach. On the other hand, XM, a globally renowned trading platform established in 2009, offers forex and CFD trading services and is based in Cyprus. Want to know which one is best for you? Compare the strengths and unique features of both platforms and decide which one is the perfect fit for your trading needs.
What Sets These Two Financial Powerhouses Apart
Invest in Over 3,000 Assets
0% Commission on Stocks
Minimum Deposit: $50
Copy Trading Available
Automated Trading
Over 1000 Instruments
Zero Commission in Low Micro and Standard Accounts.
Minimum Deposit: $5
Recommended to Forex & CFD Traders That Prefer MetaTrader Platforms
Does Not Offer Support for ETF Trading
Breaking Down the Key Differences in Account Types
If you’re eligible to become a professional trader, eToro offers you a boosted leverage of up to 1:400 on select instrument categories. However, if you are a retail trader, you can still access eToro’s full range of assets, but with limited leverage. Meanwhile, XM offers a variety of trading account types to suit different trading styles. Choose from the Low Standard, Micro, or XM Zero accounts, with the first two types not charging any commissions. If you opt for the XM Zero account, you’ll pay a commission of $3.5 per $100,000 traded.
Free Demo Account
Micro Account
VIP Account
Free Demo Account
Micro Account
VIP Account
Which Platform Fits Your Trading Style Best?
eToro | XM | |
Platform | Multi-asset platform with 3,000+ financial instruments | MT4, MT5, and custom-designed XM Web Trading Platform |
Social Trading | Offers a vibrant social community for investors to connect, network and learn from each other’s experiences. | Not available |
Investment Strategies | Offers Smart Portfolios with unique themes like medical cannabis and driverless cars. | Not available |
Trading App | Easy-to-use and intuitive mobile app | Available on all devices with responsive web design |
Leverage | Boosted leverage up to 1:400 for professional traders | Leverage of 1:1,000 is provided |
Commission | No commissions on standard accounts | No commissions on standard and micro accounts, $3.5 per $100,000 traded on the XM Zero account |
Experience the Excitement of Trading Top-Ranked Assets with Ease!
With a wide range of popular cryptocurrencies like BTC, ADA, ETH, and BNB, along with access to CFDs and the ability to trade EFTs and NFTs, eToro’s platform is perfect for traders looking to unlock the hottest assets in one click.
But what about traders dealing with FX and CFD products? With over 1000 trading instruments, including big names like Facebook, Coca-Cola, and ExxonMobil, XM offers a comprehensive range of trading services tailored to meet the diverse requirements of traders. Plus, with access to a reasonable number of global currency pairs, XM ensures maximum flexibility and convenience for traders.
Scorecard Showdown:
eToro vs XM
Comparing Support Services
When it comes to trading, having reliable and efficient support is crucial, and both eToro and XM offer exceptional customer service. At eToro, their cutting-edge Help portal provides comprehensive assistance at every step of the way. You can easily reach out to their support team through web-based tickets or live chat, exclusively for Club members. eToro’s support team is always available to answer your questions and guide you towards making informed trading decisions.
At XM, they prioritize delivering unparalleled customer service with their team of knowledgeable and experienced professionals always ready to assist traders. They offer an advanced and innovative Help portal that provides all the vital information necessary to ensure a seamless trading experience. With XM, you can stay connected with their support team anytime, anywhere, and have access to the best possible support. No matter which platform you choose, you can trust that you’ll receive top-tier support for all your trading needs.
Putting Compliance First:
Committed to Regulatory Compliance
CySEC
FCA
ASIC
Registered Money Services Business (MSB) with the Financial Crimes Enforcement Network (FinCEN) in the United States
Strict KYC and AML procedures
Investor protection amount £85,000 for UK residents, €20,000 for non-UK residents
Leveraged trading is high risk. Losses can exceed deposits.
CySEC
FCA
ASIC
Registered Money Services Business (MSB) with the Financial Crimes Enforcement Network (FinCEN) in the United States
Strict KYC and AML procedures
Investor protection amount €20,000 for EEA residents, no protection for others
Leveraged trading is high risk. Losses can exceed deposits.
Overall Commissions & Fees Rating
eToro vs XM: Choosing the Best Forex Broker for Your Trading Needs
XM and eToro are both top-notch forex brokers offering various financial instruments and educational resources. XM’s tighter spreads and lower minimum deposit make it ideal for beginners, while eToro’s social trading feature and wide range of products attract those looking to learn from seasoned traders. Your decision should be based on your trading style and individual needs, so make sure to research and consider the factors we’ve discussed to determine the best fit for you.
Make sure to catch our full reviews of eToro and XM to get an in-depth look at these leading brokers!