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IG Group vs XM Forex Broker Comparison Which One Reigns Supreme in Trading

    Forex Broker Comparison: IG Group vs XM

    Quick Facts

    • Platforms: IG Group – Web, mobile, L2 dealer, ProRealTime; XM – Web, mobile, MT4, MT5
    • Year Founded: IG Group – 1974; XM – 2009
    • Minimum Deposit: IG Group – £250 (UK); XM – $5 (Micro), $100 (Standard)
    • Leverage: IG Group – Up to 200:1 (currency), 500:1 (commodities); XM – Up to 888:1 (Micro), 500:1 (Standard)
    • Spread: IG Group – Variable, 0.2-2 pips EUR/USD; XM – Variable, 0-1 pip EUR/USD
    • Regulation: IG Group – FCA, ASIC, NFA; XM – FCA, ASIC, CySEC, IFSC
    • Trading Instruments: IG Group – 17,000+ (forex, indices, shares, commodities); XM – 1,000+ (forex, stocks, commodities, metals)
    • Account Types: IG Group – 5 types (Dealing, Accounts, APIs); XM – 4 types (Micro, Standard, XM Ultra-Low, Shares)
    • Executions: IG Group – Market execute in under 1 second; XM – 100% market execute in under 1 second
    • Awards: IG Group – 200+ awards, “Best Forex Provider” (2019); XM – 30+ awards, “Best Customer Service” (2018)

    Overview of IG Group and XM

    In the world of online forex trading, choosing the right broker can be a daunting task. With so many options available, it’s essential to compare and contrast different brokers to find the one that best suits your needs. In this article, we’ll be comparing two of the most well-known forex brokers, IG Group and XM, to help you make an informed decision.

    IG Group

    IG Group, formerly known as IG Markets, is a UK-based forex broker that was founded in 1974. With over 45 years of experience in the industry, IG Group is one of the oldest and most respected forex brokers in the world. They are regulated by the Financial Conduct Authority (FCA) in the UK and are listed on the London Stock Exchange.

    XM

    XM, formerly known as XEMarkets, is a Cyprus-based forex broker that was founded in 2009. Although relatively younger than IG Group, XM has quickly gained a reputation as a reliable and trustworthy broker. They are regulated by the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC).

    Trading Platforms

    One of the most important factors to consider when choosing a forex broker is the trading platform. Both IG Group and XM offer a range of platforms to suit different trading styles and needs.

    IG Group Trading Platforms

    IG Group offers the following trading platforms:

    • MT4: IG Group offers the popular MetaTrader 4 (MT4) platform, which is widely used by forex traders around the world.
    • ProRealTime: IG Group also offers ProRealTime, a professional-grade trading platform that offers advanced charting tools and technical indicators.
    • Web-based Platform: IG Group’s web-based platform allows traders to access their accounts and trade on the go.

    XM Trading Platforms

    XM offers the following trading platforms:

    • MT4: XM also offers the MT4 platform, as well as MetaTrader 5 (MT5).
    • WebTrader: XM’s WebTrader platform allows traders to access their accounts and trade on the web.
    • Mobile Trading: XM also offers mobile trading apps for iOS and Android devices.

    Commissions and Spreads

    Commissions and spreads are an essential part of forex trading, and both IG Group and XM offer competitive rates.

    IG Group Commissions and Spreads

    IG Group charges the following commissions and spreads:

    • Commission: IG Group charges a commission of $10 per lot on MT4 and 0.1-0.3 pips on ProRealTime.
    • Spreads: IG Group’s spreads start from 0.6 pips on EUR/USD.

    XM Commissions and Spreads

    XM charges the following commissions and spreads:

    • Commission: XM charges a commission of $5 per lot on MT4 and MT5.
    • Spreads: XM’s spreads start from 0.6 pips on EUR/USD.

    Account Types

    Both IG Group and XM offer a range of account types to suit different trading styles and needs.

    IG Group Account Types

    IG Group offers the following account types:

    • Deal-for-Deal Account: This account type is designed for active traders who want to take advantage of IG Group’s competitive spreads.
    • Spread Betting Account: This account type is designed for traders who want to bet on price movements without actually owning the underlying asset.
    • CFD Trading Account: This account type is designed for traders who want to trade contracts for difference (CFDs).

    XM Account Types

    XM offers the following account types:

    • Micro Account: This account type is designed for new traders who want to start with a small deposit.
    • Standard Account: This account type is designed for traders who want to trade with a standard lot size.
    • Zero Account: This account type is designed for traders who want to trade with zero commission.

    Education and Research

    Education and research are essential for successful forex trading, and both IG Group and XM offer a range of resources to help traders improve their skills.

    IG Group Education and Research

    IG Group offers the following education and research resources:

    • IG Academy: IG Group’s academy offers a range of courses and tutorials for new traders.
    • Market Analysis: IG Group’s market analysis section offers insights and commentary from experienced traders and analysts.
    • Economic Calendar: IG Group’s economic calendar allows traders to stay up-to-date with market-moving events.

    XM Education and Research

    XM offers the following education and research resources:

    • XM Academy: XM’s academy offers a range of courses and tutorials for new traders.
    • Market Analysis: XM’s market analysis section offers insights and commentary from experienced traders and analysts.
    • Economic Calendar: XM’s economic calendar allows traders to stay up-to-date with market-moving events.

    Customer Support

    Customer support is an essential part of any forex broker, and both IG Group and XM offer 24/5 customer support.

    IG Group Customer Support

    IG Group offers the following customer support options:

    • Phone: IG Group offers phone support in multiple languages.
    • Email: IG Group offers email support in multiple languages.
    • Live Chat: IG Group offers live chat support in multiple languages.

    XM Customer Support

    XM offers the following customer support options:

    • Phone: XM offers phone support in multiple languages.
    • Email: XM offers email support in multiple languages.
    • Live Chat: XM offers live chat support in multiple languages.

    IG Group vs XM: Forex Broker Comparison FAQ

    Q: Who are IG Group and XM?

    IG Group (IG) and XM are two of the world’s leading forex brokers, offering online trading services to retail and institutional clients. IG is a UK-based broker founded in 1974, while XM is a Cyprus-based broker established in 2009.

    Q: What types of accounts do IG and XM offer?

    IG Group offers a standard account, a professional account, and a spread betting account. They also offer a demo account for new traders. XM offers Standard, Micro, Ultra Low, Shares, and Islamic accounts (with swap-free conditions). They also offer a demo account for new traders.

    Q: What is the minimum deposit required to open an account?

    The minimum deposit required to open an account with IG Group is $300. The minimum deposit required to open an account with XM is $5 for Micro and Standard accounts.

    Q: What are the spreads and fees offered by IG and XM?

    IG Group offers variable spreads from 0.6 pips on EUR/USD, and their average spread is around 1.2 pips. They also charge a commission fee on certain assets. XM offers ultra-low spreads from 0.6 pips on EUR/USD, and their average spread is around 1.1 pips. They also charge a commission fee on certain assets.

    Q: What trading platforms do IG and XM offer?

    IG Group offers its own web-based trading platform, as well as mobile trading apps for Android and iOS devices. They also offer MetaTrader 4 (MT4) and ProRealTime platforms. XM offers MT4, MT5, and XM WebTrader platforms. They also offer mobile trading apps for Android and iOS devices.

    Q: What is the leverage offered by IG and XM?

    IG Group offers leverage up to 200:1 for retail clients, and up to 500:1 for professional clients. XM offers leverage up to 30:1 for retail clients, and up to 500:1 for professional clients.

    Q: Do IG and XM offer bonuses and promotions?

    IG Group does not offer bonuses or promotions to new traders. XM offers a $30 trading bonus for new traders, as well as other promotions and loyalty programs.

    Q: What is the customer support like at IG and XM?

    IG Group offers customer support via phone, email, and live chat. They also offer multilingual support and a comprehensive FAQ section. XM offers customer support via phone, email, and live chat. They also offer multilingual support and a comprehensive FAQ section.

    Q: Are IG and XM regulated?

    IG Group is regulated by the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) in Australia, and other regulatory bodies. XM is regulated by the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, and the Australian Securities and Investments Commission (ASIC) in Australia.

    Q: What is the security like at IG and XM?

    IG Group uses SSL encryption to protect client data and offers two-factor authentication for secure login. XM uses SSL encryption to protect client data and offers two-factor authentication for secure login.

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