image XM Group VISIT XM GROUP image FXDD VISIT FXDD image City Index VISIT CITY INDEX
About

XM Group is regulated by the Financial Conduct Authority, CySEC and MiFID. XM have provided forex, commodities, equity and indice trading services since 2009.

FXDD is regulated by MFSA. FXDD have provided Forex, Metals, Options, CFD, Oil 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 9 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, CySEC
  • Yes Over 16 years in business
  • Yes
  • Yes
  • Yes Over 35 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, ASIC and MAS
Headquarters 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus Floriana, Malta London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes No Yes
CFD Yes No Yes
Spread Betting No No Yes
Social Trading No Yes No
MARKETS & INSTRUMENTS
Forex (currency pairs) 55 84
Commodities Offered 15 26
Stocks Offered 160 10 4500
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes No Yes
US Stocks No No Yes
Penny stocks No No Yes
Energies Yes No Yes
Metals Yes Yes Yes
Agriculturals No No Yes
FTSE Yes No Yes
Dow Jones Yes No Yes
Dax Yes No Yes
Nikkei Yes No Yes
ETFs Yes Yes Yes
IPO Yes No No
See all instruments

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

See all instruments

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

See all instruments

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

PLATFORM & FEATURES

See the platforms and features offered by each broker

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

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image Yes Yes Yes
Available Languages

Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish

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

See platform & features

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

See platform & features

73.6% of retail investor accounts lose money when trading CFDs with FXDD Malta Ltd.

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 XM Group and FXDD

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

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

See account options

73.6% of retail investor accounts lose money when trading CFDs with FXDD Malta Ltd.

See account options

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

TRADING CONDITIONS

Scalping Yes Yes No
Hedging Yes No Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes No No
Direct market access No Yes No
STP broker No No Yes
Market maker Yes Yes Yes
Min trade 0.01 Lot 01 Lot 1 Lot
Max trade 50 Lot None Varies
Min deposit $5 $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 No Yes
Signal trading Yes No Yes

FUNDING METHODS

Credit card Yes No Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal No No No
Neteller Yes No No
Skrill No No No
Payment processing time Varies 2 business days 2-3 business days
Withdrawal processing time 2 business days 5 to 10 business days 2-3 business days
See all funding options

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

See all funding options

73.6% of retail investor accounts lose money when trading CFDs with FXDD Malta Ltd.

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 357 25029933 (356) 20133933 0845 355 0801
Live Chat Yes No Yes
Website www.xm.com http://www.fxdd.com/mt/en.html www.cityindex.co.uk
Spreads:
EUR/USD (Average: 0.7 pips) 1.0 pips + $10.00 1.6 pips + $3.00 0.5 pips
GBP/USD (Average: 1.1 pips) 1.0 pips + $10.00 1.8 pips + $3.00 0.5 pips
USD/JPY (Average: 1.1 pips) 1.0 pips + $10.00 1.6 pips + $3.00 1.6 pips
AUD/USD (Average: 0.8 pips) 1.0 pips + $10.00 1.7 pips + $3.00 0.5 pips
USD/CHF (Average: 2.3 pips) 1.0 pips + $10.00 2.0 pips + $3.00 1.6 pips
USD/CAD (Average: 2.9 pips) 1.0 pips + $10.00 1.8 pips + $3.00 0.5 pips
NZD/USD (Average: 3.6 pips) 1.1 pips + $10.00 1.8 pips + $3.00 2.3 pips
EUR/GBP (Average: 2.4 pips) 1.0 pips + $10.00 1.7 pips + $3.00 0.5 pips
View all spreads

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

View all spreads

73.6% of retail investor accounts lose money when trading CFDs with FXDD Malta Ltd.

View all spreads

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

FEES

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

71.6% of retail investors lose money when trading spread bets and CFDs with this provider.

View All Fees

73.6% of retail investor accounts lose money when trading CFDs with FXDD Malta Ltd.

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 www.xm.com. Last updated on 01/07/2019.

All information collected from http://www.fxdd.com/mt/en.html. Last updated on 01/07/2019.

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

Company

Since starting in 2009, XM Group has opened over 300,000 trading accounts, establishing itself as an industry leader with a focus on customer service it offers support in over 20 languages. With its size and resources, its users have access to a wide range of expert advice to hep everybody in the trading world.

XM has oppened accounts in over 190 countries and is regulated by multiple regulators including one of the worlds most stringent, the Financial Conduct Authority in the UK, CySEC, BaFin, CNMV and MiFID of the Eurpean Union. With 99.35% of trades executed in under a second and strictly no requotes and no rejections policy you can trade confidently with XM.

For more information about trading with XM, we have put together an indepth XM review with all the pros and cons about this broker.

FXDD is a trusted online broker regulated by multiple authorities around the world including the Financial Conduct Authority in the UK. FXDD offer customised solutions to everyone from retail traders, hedge fund managers to white label products. Their global reach and state of the art technology have enabled FXDD to outgrow other brokerages and become a global force in Forex trading. They provide customer service in 13 languages and have a devoted client service no matter the size of the trader. FXDD also provide comprehensive training to cater for all levels of traders and hold daily interactive classes taught by expert analysts on top of the web based tools including trading calculators. They provide two simple pricing models, standard and ECN. Standard offers low spreads with no commissions and guaranteed zero slippage. ECN provides low direct raw spreads with no markups and a small $2.99 per standard lot commission with a 99% fill rate.

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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XM Group or FXDD?

Low spreads or ?

If you’re a trader looking for a broker with low spreads on popular instruments like EUR/USD, XM Group is likely a better option. 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 XM Group to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

XM Group is regulated by Financial Conduct Authority, CySEC, and ASIC, while FXDD is regulated by MFSA.

As the Financial Conduct Authority are one of the most stringent regulators in the world, XM Group 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.

XM Group has been around for 10 years, while FXDD 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 XM Group and FXDD 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 XM Group or FXDD 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.

XM Group is more popular with over 700,000 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 XM Group and FXDD 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.

XM Group are based in 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus, while FXDD are based in Floriana, Malta .

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 XM Group and FXDD offer forex trading. XM Group have a slightly larger variety of currency pairs with 55 pairs, compared to offered by FXDD. Also, if you’re looking to trade cryptocurrencies, XM Group offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

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

FXDD 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 XM Group and FXDD offer this. XM Group also offer the new & improved MT5 platform. 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. City Index, for example, offer a mini account, standard account and VIP account.

For Muslim traders, XM Group 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.

XM Group does allow scalping and hedging. While FXDD also allows scalping but doesn't allow hedging. You can trade with EAs (expert advisors) on both XM Group and FXDD.

In terms of risk management tools, XM Group does offer negative balance protection to prevent you owing your broker more than you’ve deposited, but FXDD doesn't offer this.

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

XM Group accept Neteller while

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, XM Group charges 0.10 points, while FXDD charges 0.50 points. Therefore, XM Group 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: XM Group or FXDD?

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

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