image Forex.com VISIT FOREX.COM image XTB VISIT XTB image City Index VISIT CITY INDEX
About

Forex.com is regulated by the Financial Conduct Authority. Forex.com have provided Forex, Commodities, Indices trading services since 1999.

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

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

Why choose them?
  • Yes Over 19 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.
  • Yes Over 35 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, ASIC and MAS
Headquarters London, UK Level 34, One Canada Square, Canary Wharf, E14 5AA, London, UK London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) No Yes Yes
CFD No Yes Yes
Spread Betting No No Yes
Social Trading No Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 50 48 84
Commodities Offered 12 21 26
Stocks Offered 0 1606 4500
Bitcoin No Yes Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks No Yes Yes
Penny stocks No Yes Yes
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes Yes Yes
FTSE Yes No Yes
Dow Jones Yes No Yes
Dax Yes Yes Yes
Nikkei Yes Yes Yes
ETFs Yes Yes Yes
IPO Yes No No
See all instruments

75% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

75% of retail investor accounts lose money when trading CFDs with this provider

See all instruments

75% 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 No
WebTrader Yes Yes Yes
Mirror Trader No Yes No
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM No No Yes
Custom Platforms FOREXTrader PRO Xstation5 AT Pro, Advantage Web

APPS

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

English, Chinese, and Arabic

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

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

See platform & features

75% of retail investor accounts lose money when trading CFDs with this provider

See platform & features

79% of retail investor accounts lose money when trading CFDs with this provider.

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 Forex.com and XTB

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

75% of retail investor accounts lose money when trading CFDs with this provider

See account options

79% of retail investor accounts lose money when trading CFDs with this provider.

See account options

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

TRADING CONDITIONS

Scalping Yes Yes No
Hedging Yes Yes Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server No No No
Direct market access Yes Yes No
STP broker Yes Yes Yes
Market maker Yes Yes Yes
Min trade Varies 0.01 Lot 1 Lot
Max trade 5 million 100 Lot Varies
Min deposit $500 $1 $25

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 No Yes Yes

FUNDING METHODS

Credit card No Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No Yes No
Neteller No Yes No
Skrill No No No
Payment processing time Varies Varies 2-3 business days
Withdrawal processing time 1-2 business days Varies 2-3 business days
See all funding options

75% of retail investor accounts lose money when trading CFDs with this provider

See all funding options

79% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

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

DETAILED INFO

Excluded countries US,IN,PK,BD,NG,ID,BE,NL US,IN,PK,BD,NG,ID,BE,NL 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 2036953085 0845 355 0801
Live Chat Yes Yes Yes
Website http://www.forex.com www.xtb.com www.cityindex.co.uk
Spreads:
EUR/USD (Average: 0.7 pips) 1.0 pips + $0.00 0.8 pips 0.5 pips
GBP/USD (Average: 1.1 pips) 0.9 pips + $0.00 0.1 pips 0.5 pips
USD/JPY (Average: 1.1 pips) 1.1 pips + $0.00 4.0 pips 1.6 pips
AUD/USD (Average: 0.8 pips) 1.2 pips + $0.00 4.6 pips 0.5 pips
USD/CHF (Average: 2.3 pips) 1.1 pips + $0.00 4.0 pips 1.6 pips
USD/CAD (Average: 2.9 pips) 0.9 pips + $0.00 4.6 pips 0.5 pips
NZD/USD (Average: 3.6 pips) 2.3 pips + $0.00 5.7 pips 2.3 pips
EUR/GBP (Average: 2.4 pips) 1.3 pips + $0.00 3.9 pips 0.5 pips
View all spreads

75% of retail investor accounts lose money when trading CFDs with this provider

View all spreads

79% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

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

FEES

Inactivity Fee No No Yes
Commission No Yes 0.0015
Deposit Fee No No Varies
Withdrawal Fee No No Varies
View All Fees

75% of retail investor accounts lose money when trading CFDs with this provider

View All Fees

79% of retail investor accounts lose money when trading CFDs with this provider.

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 http://www.forex.com. Last updated on 01/07/2019.

All information collected from www.xtb.com. Last updated on 01/07/2019.

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

Company

FOREX is a market leading broker with over 15 years' experience in the industry serving over 200,000 traders worldwide. As a publically traded company on the NY stock exchange, regulated by multiple regulating bodies including the Financial Conduct Authority in UK, FOREX is a broker you can trust. FOREX offer competitive pricing through its advanced technology and execute your trades fast and at the price you expect or better. Pricing is simple and easy to understand with no complicated commission structures or small print, you know what you will pay. With a commitment to customer support they offer 24 hour support from 9pm Sun through to 9pm Friday.

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.

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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Forex.com or XTB?

ECN execution or low spreads?

If you’re a trader looking for a broker that offers ECN execution (as opposed to a market maker), Forex.com is likely the better choice. However, if you want a broker with lower spreads on currency pairs like EUR/USD, XTB may be more appropriate.

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

Who are they regulated by?

Forex.com and XTB are both regulated by Financial Conduct Authority

As the Financial Conduct Authority are one of the most stringent regulators in the world, both Forex.com and XTB 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.

Forex.com has been around for 20 years, while XTB have been around for 17 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.

Both Forex.com and XTB use tier one banks, but we are not sure of which bank specifically.

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 Forex.com or XTB 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.

XTB is more popular with over 20,000 traders.

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.

Both Forex.com and XTB are privately owned companies.

Where are they located?

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

Forex.com are based in London, UK, while XTB are based in Level 34, One Canada Square, Canary Wharf, E14 5AA, 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 Forex.com and XTB offer forex trading. Forex.com have a slightly larger variety of currency pairs with 50 pairs, compared to 48 offered by XTB. Also, if you’re looking to trade cryptocurrencies, XTB offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both Forex.com and XTB allow you to trade commodities like gold, silver and crude oil.

XTB also offer social trading, which allows you to follow the trading activity, engage in discussion, and even copy the trades of other traders.

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 Forex.com and XTB offer this. Our alternative broker, City Index, 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.

For Muslim traders, Forex.com offers an Islamic account, which doesn’t accrue interest or incur/receive rollover swap points, as this is prohibited in Shariah law. You can learn more & compare Islamic trading accounts head-to-head here.

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.

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

In terms of risk management tools, Forex.com doesn't offer negative balance protection, but XTB does. Negative balance protection prevents you owing your broker more than you’ve deposited.

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

XTB accept Paypal.

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, Forex.com charges 1.00 points, while XTB charges 0.20 points. Therefore, XTB 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: Forex.com or XTB?

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

Objectively, Forex.com is more reliable based on our criteria above. Forex.com has a wider range of instruments to trade. Forex.com 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.

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