image DMM FX VISIT DMM FX image SVS Securities XO VISIT SVS SECURITIES XO image City Index VISIT CITY INDEX
About

DMM FX have ceased brokerage operations from Australia.

SVS Securities XO is regulated by the Financial Conduct Authority. SVS Securities XO have provided Forex, CFD trading services since 2003.

City Index is regulated by the Financial Conduct Authority. City Index have provided Forex trading services since 1983.

Why choose them?
  • Yes Over 5 years in business
  • Yes
  • Yes
  • Yes Over 15 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 35 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, ASIC and MAS
Headquarters 2nd Floor, 20 Ropemaker Street, London, EC2Y 9AR London, UK

TRADING SERVICES OFFERED

Spot Forex No Yes Yes
Forex (CFD) No No Yes
CFD No No Yes
Spread Betting No No Yes
Social Trading No No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 39 84
Commodities Offered 0 26
Stocks Offered 0 4500
Bitcoin No No Yes
Majors No Yes Yes
Indices No Yes Yes
US Stocks No Yes Yes
Penny stocks No No Yes
Energies No Yes Yes
Metals No Yes Yes
Agriculturals No Yes Yes
FTSE No Yes Yes
Dow Jones No Yes Yes
Dax No Yes Yes
Nikkei No No Yes
ETFs No No Yes
IPO No Yes No
See all instruments

Losses can exceed deposits

See all instruments

Losses can exceed deposits

See all instruments

Losses can exceed deposits

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 No Yes Yes
MT5 No No No
MT4 Mac No No No
WebTrader No Yes Yes
Mirror Trader No No No
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM No Yes Yes
Custom Platforms No SVS Webtrader AT Pro, Advantage Web

APPS

iOS image No Yes Yes
Android image No Yes Yes
Windows image No No Yes
Available Languages

English, Spanish, German, Arabic, Polish, and Chinese

See platform & features

Losses can exceed deposits

See platform & features

Losses can exceed deposits

See platform & features

72% of retail investor accounts lose money when trading CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by DMM FX and SVS Securities XO

Demo account No No Yes
Mini account No Yes Yes
Micro account No No Yes
Standard account No Yes Yes
ECN Account No No No
Islamic account No No No
Zero spread account No No No
VIP account No No Yes
Fixed spreads No No Yes
Variable spreads No Yes Yes
See account options

Losses can exceed deposits

See account options

Losses can exceed deposits

See account options

72% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping No Yes No
Hedging No Yes Yes
Expert advisors (EAs) No Yes Yes
Virtual private server No No No
Direct market access No Yes No
STP broker No Yes Yes
Market maker Yes Yes Yes
Min trade Varies Varies 1 Lot
Max trade Varies Varies Varies
Min deposit $1 $100 $25

RISK MANAGEMENT

Stop losses No Yes Yes
Limit orders Yes Yes Yes
One-click trading No Yes Yes
Trailing stops No Yes Yes
Price alerts No No Yes
Signal trading No No Yes

FUNDING METHODS

Credit card No Yes Yes
Bank transfer No Yes Yes
Standard account No Yes Yes
Paypal No No No
Neteller No Yes No
Skrill No No No
Payment processing time Varies Varies 2-3 business days
Withdrawal processing time Varies Varies 2-3 business days
See all funding options

Losses can exceed deposits

See all funding options

Losses can exceed deposits

See all funding options

72% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries US US US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW
Contact email Send Email Send Email Send Email
Phone number No +44(0) 203 700 0100 0845 355 0801
Live Chat No Yes Yes
Website dmmfx.com.au https://svsxo.com www.cityindex.co.uk
Spreads:
EUR/USD (Average: 0.7 pips) Not offered Not offered 0.5 pips
GBP/USD (Average: 1.1 pips) Not offered Not offered 0.5 pips
USD/JPY (Average: 1.1 pips) Not offered Not offered 1.6 pips
AUD/USD (Average: 0.8 pips) Not offered Not offered 0.5 pips
USD/CHF (Average: 2.3 pips) Not offered Not offered 1.6 pips
USD/CAD (Average: 2.9 pips) Not offered Not offered 0.5 pips
NZD/USD (Average: 3.6 pips) Not offered Not offered 2.3 pips
EUR/GBP (Average: 2.4 pips) Not offered Not offered 0.5 pips
View all spreads

Losses can exceed deposits

View all spreads

Losses can exceed deposits

View all spreads

72% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee No Yes
Commission 0.1%- 0.30% 0.0015
Deposit Fee Varies Yes Varies
Withdrawal Fee No Yes Varies
View All Fees

Losses can exceed deposits

View All Fees

Losses can exceed deposits

View All Fees

72% of retail investor accounts lose money when trading CFDs with this provider

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Last update

All information collected from dmmfx.com.au. Last updated on 01/07/2019.

All information collected from https://svsxo.com. Last updated on 01/07/2019.

All information collected from www.cityindex.co.uk. Last updated on 01/07/2019.

Company

According to LeapRate, DMM FX have ceased their ASIC regulated brokerage operations.

SVS Securities XO is an online forex trading sevice provider who are regulated by the Financial Conduct Authority. To open an account with SVS Securities XO, minimum deposits start from $100.

With SVS Securities XO you can trade Equities, CFDs, IPOs and private equity placements, foreign exchange, gold, and oil. If you like to trade on the go, SVS Securities XO have iPhone, iPad and Android apps so you can trade from anywhere on your phone.

SVS Securities XO offer SVS Webtrader, Metatrader 4, Tradable, Advisory, PureDeal Platform, L2 Platform platforms to make your trades and support 4 different languages.

The spreads offered by SVS Securities XO for the most popular instruments are:
2.5 EUR/USD, 2.2 FTSE 100, 60 GOLD,
2.5 GBP/USD, 15 DOW/JONES, 0.06 Crude Oil,
see all the spreads here.

Since establishing themselves as one of the first spread betting providers in the UK. , City Index have grown to a global company in over 50 countries completing over two million trades every month. City Index provide some of the most competitive spreads across thousands of markets including indices, shares, currencies, commodities and many more.

City Index have continued to innovate and were the first to provide a downloadable Android and iPhone app for spread betting and CFD trading and with over 30 years experience in the industry, you know you can trust Cityindex to handle your trades.

For more information about trading with City Index, we have put together an indepth City Index review with some of the pros and cons about this broker.

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DMM FX or SVS Securities XO?

Who is access to MT4?

If you want a broker that offers MetaTrader4 as a trading platform, SVS Securities XO may be more suitable. DMM FX and SVS Securities XO offer similar trading methods.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider SVS Securities XO to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

DMM FX is regulated by Closed, while SVS Securities XO is regulated by Financial Conduct Authority.

As the Financial Conduct Authority are one of the most stringent regulators in the world, SVS Securities XO will have very strict guidelines to follow to ensure they protect their retail trader clients.

City Index are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

DMM FX has been around for 6 years, while SVS Securities XO have been around for 16 years. Our third alternative broker, City Index, have been around for 36 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

DMM FX does not use tier one banks as their banking partner. SVS Securities XO uses tier one banks as their banking partner.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

DMM FX is a privately owned company, while on the other hand SVS Securities XO is still a publicly listed company.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

DMM FX are based in , while SVS Securities XO are based in 2nd Floor, 20 Ropemaker Street, London, EC2Y 9AR .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, SVS Securities XO have a slightly larger variety of currency pairs with 39 pairs, compared to offered by DMM FX. Also, if you’re looking to trade cryptocurrencies,

If you’re looking to trade commodities like gold, silver or oil, DMM FX may be a better fit as SVS Securities XO does not offer commodity trading.

Platforms & Account Types

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. City Index, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

While SVS Securities XO also allows scalping and hedging. You can't trade with EAs (expert advisors) on DMM FX but you can trade EAs (expert advisors) with SVS Securities XO.

In terms of risk management tools, neither DMM FX or SVS Securities XO offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

SVS Securities XO accept Neteller.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, DMM FX and SVS Securities XO both charge points. Therefore, both brokers are equally affordable for this instrument. You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: DMM FX or SVS Securities XO?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, SVS Securities XO is more reliable based on our criteria above. SVS Securities XO has a wider range of instruments to trade. SVS Securities XO offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Most brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.