Introduction
In this session, we are making detail comparison between two brokers. In this time, we chose two major reliable brokers, Exness and XM. Both brokers have been operating for more than 10 years with strict Tier1 licenses. Both are reliable and already obtained high reputation. Both are huge size of brokers and provide well-balanced services for wide range of traders. But business strategy looks different. One of big differences are about promotions. XM offer attractive promotions such as account opening bonus, deposit bonus, loyalty program. On the other hand, Exness focus on trading condition, such as spread, leverage, account currency, without any promotions.
Please see comparison table as follows.
Comparison
Company and License
Exness | XM | |
Operating years | 12 years | 10 years |
Licenses | FCA, FSA, etc. | FCA, CySEC, ASIC, etc. |
Trading conditions
Exness | XM | |
Account types | Standard Accounts (Standard, Standard Cent) Professional Accounts (Low spread, Zero, Pro) (In detail please refer to another post.) |
Micro, Standard, Ultra Low, etc. (In detail please refer to another post.) |
Maximum leverage | Standard, Standard Cent, Raw Spread, Zero, Pro account (MT4) 1:Unlimited (Equity: 0 – 999 USD) 1:2000 (Equity: 1,000 – 2,999 USD) 1:1000 (Equity: 3,000 – 9,999 USD) 1:600 (Equity: 10,000 – 19,999 USD) 1:400 (Equity: 20,000 – 49,999 USD) 1:200 (Equity: 50,000 – 199,999 USD) 1:100 (Equity: 200,000 or more USD) |
Standard Account 1:888 ($5 – $20,000) 1 to 1:200 ($20,001 – $100,000 1 to 1:100 ($100,001 -) |
Minimum deposit | 1USD (Standard accounts) 1,000USD (Professional accounts) |
USD5 for all account |
Account currency | AED, AUD, ARS, AZN, BDT, BHD, BND, BRL, BYR, CAD, CHF, CLP, CNY, COP, CZK, DKK, DZD, EUR, GEL, GBP, GHS, HKD, HUF, IDR, ILS, INR, JOD, JPY, KES, KRW, KWD, KZT, LBP, LKR, MAD, MXN, MYR, NGN, NOK, NZD, OMR, PHP, PKR, PLN, QAR, RON, RUR(for MT4 accounts only), SAR, SEK, SGD, SYP, THB, TND, TRY, TWD, UGX, USD, UAH, UZS, VND, ZAR, MAUUSD, MAGUSD, MPTUSD, MPDUSD, MBAUSD, MBBUSD, MBCUSD, MBDUSD (Standard account) |
USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR, THB (For Micro and Standard account) |
Trading Instruments | ||
– Forex | 107 pairs | 57 pairs |
– CFD Stock (DMA) | n/a | 1,140 items |
– Shares | 30 items | 100 items |
– Stock Indices: | 10 items | 18 items |
– Commodities | n/a | 8 items |
– Precious Metals and Energies | 12 items | 7 items |
– ETFs | n/a | n/a |
– Cryptocurrency | 7 items | n/a |
– Bonds | n/a | n/a |
Trading platform | MT4, MT5 | MT4, MT5 |
Average Spread | EURUSD Standard account: 1 pips Raw Spread account: 0 pips (with commission 3.5USD per lot) |
EURUSD Standard account: 1.7 pips Ultra Low account: 0.6 pips |
Margin call / Stop out | Margin call; 60% for Standard account 30% for professional accountStop out: 0% for all account |
Margin call: 50% for all account Stop out: 20% for all account |
Deposit and withdrawal methods | Online banking (from minimum deposit 1USD) Neteller Skrill WebMoney Perfect Money |
Credit cards Multiple electronic payment methods, Bank wire transfer Local bank transfer, etc.Zero fee on deposit and withdrawal for Credit card, Electronic wallet, and Wire transfer over 200USD |
Brokerage Model | NDD (STP and ECN) | NDD |
Scalping is possible or not | Possible | Possible |
Promotions
Exness | XM | |
Promotions | No promotions | Trading bonus (Account Opening Bonus) 30USD, cannot be withdrawn, but profit can be withdrawn.Deposit Bonus 50% deposit bonus up to 500USD or currency equivalent. 20% deposit bonus up to 4,500USD or currency equivalent.10-Year Anniversary Promotion Total prize value 1MilUSDLoyalty Program Executive: 7XMP per lot Gold: 10XMP per lot (+30 Days) Diamond: 13XMP per lot (+60 Days) Elite: 16XMP per lot (+100 Days) Bonus = XMP / 3 (For example, XMP 3,000 points is equal to 1,000 USD.) |
Security of clients’ funds and Others
Exness | XM | |
Safety of Clients’ Funds | Negative Balance Protection | Negative Balance Protection Segregation of clients’ funds Accounts with major banks |
Research and Education materials | Exness Academy Insights and analysis News from markets Webinars Glossary |
Research Markets Overview, News, XM Research, Trade Ideas, Technical Summaries, Economic Calendar, XM TV, PodcastEducation XM Live, Live Education, Educational Videos, Forex Webinars, Platform Tutorials, Forex Seminars |
Award Winning | Many industry awards | Many industry awards |
Customer Support | Live Chat 24/5 | Live Chat 24/5 |
Conclusion
Both Exness and XM have been operating for more than 10 years with Tier1 licenses, and already obtained reliability and reputation as large size of broker. Both brokers are quite reliable as leading brokers, and we recommend to making account on both brokers. But we will pick up major differences between Exness and XM as follows.
- Exness offers narrow spread, larger maximum leverage, smaller minimum deposit, and lower stop out level —Exness win
- Only XM offers Stock (DMA), commodities CFDs as part of trading instruments — XM win
- Only Exness offers Cryptocurrency CFD as one of trading instruments — Exness win
- Only XM offers attractive opening bonus and deposit bonus — XM win
- Only XM offers Loyalty program which realizes narrower spread — XM win
- Option of account currency of Exness is very wide — Exness win
- Option of currency pairs of Exness is very wide — Exness win
- XM offers wider range of research and educational resources — XM win
But for many other review points, both Exness and XM can be highly evaluated and no big difference.
In conclusion, more desirable broker might be different for each trader, depends on the difference points (From 1 to 8) above. If a trader prefers to narrow spread, larger maximum leverage, smaller minimum deposit, and lower stop out level and trading cryptocurrency, and no interest with promotions, then the traders might choose Exness. On the other hand, if a trader prefers to variety of promotions, loyalty program, trading stock (DMA) and Commodities CFDs, without ultra-narrow spread, then a trader might choose XM.
But basically, we recommend both Exness and XM as top-level reliable brokers.
Also please refer to our review post of Exness and XM as follows.