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

BrokerDNA

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

FXCM
9.2 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT FXCM
Darwinex
7.9 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT DARWINEX
XTB
10 /10

The BROKERDNA score tells you, overall, how reputable, suitable, and affordable a broker is compared to other brokers.

This score is algorithmically-generated based on 31 factors. Neither our team, nor the brokers featured on our site, are able to change this without changing their service offering. Learn more here.

VISIT XTB
About

FXCM is regulated by the Financial Conduct Authority and NFA. FXCM have provided Forex trading services since 1999.

Darwinex is regulated by the Financial Conduct Authority. Darwinex have provided Forex, Spread betting trading services since 2012.

XTB is regulated by the Financial Conduct Authority. XTB have provided Forex, CFD, and social trading services since 2002.

Why choose them?
  • Yes Over 19 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 6 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 16 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, KNF, and CMB.
Headquarters NY, USA London, UK Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting Yes Yes No
Social Trading Yes Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 39 40 48
Commodities Offered 0 21
Stocks Offered 0 1606
Bitcoin No No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks No No Yes
Penny stocks No No Yes
Energies Yes No Yes
Metals Yes Yes Yes
Agriculturals Yes No Yes
FTSE Yes Yes Yes
Dow Jones No No Yes
Dax Yes Yes Yes
Nikkei Yes Yes Yes
ETFs No No Yes
IPO No No Yes
See all instruments

79.79% of retail investor accounts lose money when trading CFDs with this provider.

See all instruments

73% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

77% of retail investor accounts lose money when trading CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes Yes Yes
MT5 No No No
MT4 Mac No No Yes
WebTrader Yes Yes Yes
Mirror Trader No No Yes
ZuluTrade Yes No No
Sirix No No No
cTrader No No No
PAMM No Yes No
Custom Platforms No Social Trading Xstation5

APPS

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

English, Italian, Spanish, German, Russian, French, Portuguese, Hebrew, Arabic, Chinese, Japanese, and Urdu

English, Spanish, Chinese, and French

English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

See platform & features

79.79% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

73% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

77% 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 FXCM and Darwinex

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

79.79% of retail investor accounts lose money when trading CFDs with this provider.

See account options

73% of retail investor accounts lose money when trading CFDs with this provider

See account options

77% of retail investor accounts lose money when trading CFDs with this provider.

TRADING CONDITIONS

Scalping Yes Yes Yes
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes Yes No
Direct market access No Yes Yes
STP broker Yes Yes Yes
Market maker Yes Yes Yes
Min trade Varies 0.01 Lot 0.01 Lot
Max trade Varies None 100 Lot
Min deposit $1 $500 $1

RISK MANAGEMENT

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

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No Yes
Neteller No No Yes
Skrill No No Yes
Payment processing time 1 business day 1-3 business days Same day if requested before 1PM
Withdrawal processing time 1-2 business days 1-3 business days Same day if requested before 1PM
See all funding options

79.79% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

73% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

77% of retail investor accounts lose money when trading CFDs with this provider.

DETAILED INFO

Excluded countries US US US,IN,PK,BD,IQ,IR,IL,AF,AU,CA
Contact email Send Email Send Email Send Email
Phone number +44 02073984050 44 20 7193 1232 44 2036953085
Live Chat Yes Yes Yes
Website https://www.fxcm.com/ https://www.darwinex.com www.xtb.com
Spreads:
EUR/USD (Average: 0.7 pips) 1.4 pips + $8.00 Not offered 0.1 pips
GBP/USD (Average: 1.1 pips) 1.2 pips + $8.00 Not offered 0.1 pips
USD/JPY (Average: 1.1 pips) 1.6 pips + $8.00 Not offered 0.1 pips
AUD/USD (Average: 0.8 pips) 0.8 pips + $8.00 Not offered 0.2 pips
USD/CHF (Average: 2.3 pips) 1.9 pips + $8.00 Not offered 0.2 pips
USD/CAD (Average: 2.9 pips) 2.2 pips + $8.00 Not offered 0.3 pips
NZD/USD (Average: 3.6 pips) 2.1 pips + $8.00 Not offered 0.3 pips
EUR/GBP (Average: 2.4 pips) 2.4 pips + $8.00 Not offered 0.1 pips
View all spreads

79.79% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

73% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

77% of retail investor accounts lose money when trading CFDs with this provider.

FEES

Inactivity Fee No No No
Commission 0.08% per share charge per side Yes Yes
Deposit Fee No No No
Withdrawal Fee Varies Yes No
View All Fees

79.79% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

73% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

77% of retail investor accounts lose money when trading CFDs with this provider.

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Last update

All information collected from https://www.fxcm.com/. Last updated on 01/11/2019.

All information collected from https://www.darwinex.com. Last updated on 01/11/2019.

All information collected from www.xtb.com. Last updated on 01/11/2019.

Company

Since 1999, FXCM (AKA FXCM) have become one of the most popular forex brokers, with over 220,000 active accounts. In 2014 alone, their retail trading volume exceeded $4 trillion. If you are looking for a reputable broker with low spreads, FXCM are a great option.

Darwinex is an online forex trading service provider who are regulated by the Financial Conduct Authority. To open an account with Darwinex, minimum deposits start from $/£500.

With Darwinex you can trade Forex, indices, and commodities. If you like to trade on the go, Darwinex have iPhone and Android apps so you can trade from anywhere on your phone.

Darwinex offer MT4, MT4 mobile, MT4 iOS and MT4 Android platforms to make your trades and support 3 different languages.

They also offer traders free educational material to better understand the markets and trading strategies.

The spreads offered by Darwinex for the most popular instruments are:
0.38 EUR/USD, 0.8 FTSE 100, 0.12 GOLD,
0.43 GBP/USD, n/a DOW/JONES, n/a Crude Oil,
see all the spreads here.

XTB provides hyper fast execution and facilitates seminars with external professional traders, providing personalised education depending on your individual circumstances.

XTB operates with two factors in mind; to provide traders with the fastest execution speeds and to be the most transparent broker on the market, which is reflected by the services and products they provide.

XTB also have a dedicated education area - the Trading Academy - which contains material to help you become a better trader, including video tutorials, trading courses, articles and much more to improve your skills at every step of your trading journey.

If you are looking for a broker that is regulated by the Financial Conduct Authority and focuses on transparency, fast execution speeds and customer service, XTB is a great option.

For more information about trading with XTB, we have put together an in-depth XTB review covering the pros and cons of this broker.

Popular comparisons

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Popular comparisons feat. Darwinex

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Popular comparisons feat. XTB

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XTB vs XM

FXCM or Darwinex?

Well established or ?

If you’re a trader looking for a broker that has been established for a long time, FXCM is likely a good choice. However, if

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 FXCM to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

FXCM and Darwinex are both regulated by Financial Conduct Authority

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

XTB 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.

FXCM has been around for 20 years, while Darwinex have been around for 7 years. Our third alternative broker, XTB, have been around for 17 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.

FXCM uses tier one banks as their banking partner.Darwinex does not use 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.

We’re not aware of any penalties or fines imposed by regulators on FXCM or Darwinex in the past five years.

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.

FXCM is a publicly listed company, while on the other hand Darwinex is still a privately owned company.

Where are they located?

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

FXCM are based in NY, USA, while Darwinex are based in London, UK .

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, both FXCM and Darwinex offer forex trading. Darwinex have a slightly larger variety of currency pairs with 40 pairs, compared to 39 offered by FXCM. Also, if you’re looking to trade cryptocurrencies,

If you’re looking to trade commodities like gold, silver or oil, FXCM may be a better fit as Darwinex does not offer commodity trading.

FXCM and Darwinex both offer social trading, which is a modern approach to trading that allows you to follow like-minded traders, copy their trading activity, and engage in discussion around trading strategies.

Platforms & Account Types

If you trade forex, there’s a good chance you might want a broker that offers the popular MT4 trading platform. If that’s the case, both FXCM and Darwinex offer this. Our alternative broker, XTB, also offers MT4 and MT5.

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. XTB, 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.

FXCM does allow scalping and hedging. While Darwinex also allows scalping and hedging. You can trade with EAs (expert advisors) on both FXCM and Darwinex.

In terms of risk management tools, neither FXCM or Darwinex offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

FXCM also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

FXCM accept Payoneer while Darwinex accept Payoneer.

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, FXCM charges 0.30 points, while Darwinex charges 0.20 points. Therefore, Darwinex is the more affordable for this instrument. If you want to compare their spreads across more instruments, 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: FXCM or Darwinex?

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

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

Both 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.