XM vs eToro: Which One Is Better?
Before you start trading, you need to choose a platform. And that's where it can get a little tricky because there are many platforms to choose from. In this article, we're going to compare two of the most popular platforms: XM vs eToro.
XM is a forex and CFD broker with over 16 years of experience in the industry. They offer more than 1,000 instruments to trade, as well as a wide range of account types, including micro accounts and Islamic accounts.
eToro is a social trading platform that allows you to trade stocks, indices, commodities and forex. You can copy the trades of other traders or invest in CopyFunds, which are portfolios of different assets assembled by eToro.
So, which one is better? It really depends on your needs and what you're looking for in a platform. We recommend reading our in-depth reviews of both platforms to see which one is the best fit for you.
XM is a forex and CFD broker that has been in the industry since 2009. It offers its clients over 1,000 instruments to trade on, with more than 80 of those being currency pairs. XM is regulated by the CySEC and FCA, making it a safe and secure choice for traders.
eToro is a social trading platform that was founded in 2006. It allows its users to trade in stocks, indices, commodities, forex, and ETFs. The company is regulated by the CySEC, FCA, and ASIC.
eToro is a social trading and investment platform that lets you trade stocks, currencies, indices and commodities. You can copy the strategies of other traders, or invest in "people" who have a good track record.
The platform is user-friendly and lets you trade in real-time. You can also use it to invest in other people's trades, and there is a range of tools and features to help you make the most of your trading experience.
Comparison of XM and eToro
So, now that we’ve looked at XM and eToro in a bit more detail, let’s compare the two side-by-side. Here’s a quick overview of how they compare in terms of some of the key features:
- Minimum deposit: XM requires a minimum deposit of $5, while eToro has a minimum deposit of $200.
- Leverage: XM offers leverage of up to 1:888, while eToro offers leverage of up to 1:400.
- Spreads: XM has spread from 0.0 pips, while eToro has spread from 0.75 pips.
- Commissions: XM doesn't charge commissions, while eToro charges a commission of $5 per lot.
Based on the above, it’s clear that XM is the better choice if you’re looking to trade with a smaller account or take advantage of higher leverage. However, eToro is a better choice if you’re looking for lower spreads and don't mind paying a commission.
Interactive Brokers Singapore provides traders, with a couple of mobile apps that you can install on your iOS and Android devices.
Which One Is Better?
So, which one is better? That really depends on what you're looking for. If you want a broker with a huge selection of tradable assets, then XM is the way to go. If you're interested in copy trading and social trading, then eToro is probably a better fit.
Ultimately, it's up to you to decide which broker is right for you. If you're not sure, why not open demo accounts with both and see for yourself? That way, you can test out the platforms and see which one you prefer.
In conclusion, both XM and eToro are great platforms with a lot to offer. It really depends on what you're looking for and what's important to you. If you're looking for a platform with a more traditional broker feel and a wider range of assets, XM is probably the better choice. If you're looking for a more social and user-friendly platform with a focus on forex, eToro is probably the better choice.