April 19, 2024

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XM vs eToro: Which One is the King?

5 min read
EToro Vs XM 2022: Which One Will Claim The Top Spot?

Introduction

XM vs eToro is likely high on your list if you’re looking for an online broker. The two companies have similar offerings in many ways, but they also have some key differences that could make one better suited to your needs than the other. In this article, we’ll cover how each platform works and why traders choose it, as well as some important features that can help you choose between them.

XM vs eToro: Leverage

XM offers a wider range of contracts for trading. XM allows you to trade forex, commodities, stocks, and bonds. In contrast, eToro only deals in forex.

However, both brokers offer up to 200:1 leverage. This means that if you have $200 in your account, you can use it as collateral to trade with $20,000 worth of currency pairs on the platform. In addition to this high limit, both brokers also offer “micro-lot” trading which allows for very small positions — as little as 0.01 unit per trade — though this does require a minimum deposit level of $100 or more depending on which broker is used (XM requires at least $200; eToro requires at least $100).

This is particularly useful for traders who want to make small trades in the market without making a large initial deposit. The two brokers also offer “spread betting” and “contracts for difference” (CFDs) — which are both forms of derivative trading. With spread betting, you can bet on whether the price of an asset will rise or fall without owning that asset. CFDs are similar except that they allow you to trade on margin (using leverage).

eToro vs XM: Trading platform

eToro’s platform is more advanced, so if you’re an experienced trader, it might be a better choice for you. If you’re a beginner, though, eToro’s platform can be overwhelming because it has so many features. That said, I like that eToro has its currency called eToro points and allows users to use them as collateral when they trade on margin or leverage their positions (which XM doesn’t).

XM’s platform is much simpler than eToro’s but also less advanced. In terms of simplicity and usability, I prefer XM’s platform over eToro’s because it offers all the necessary tools without any clutter or unnecessary features. However, if your main goal in trading forex is to make profitable trades with very little time spent analyzing charts and technical indicators then choosing between these two brokers might not matter much – as long as they offer low spreads!

eToro vs XM: Fees, commissions, and spreads

eToro charges a low fee of 0.1% per trade, which is great for those looking to make small trades. XM, on the other hand, charges a higher fee of 0.4% per trade.

When trading with eToro which is better you will be able to make up to 200 trades per month at no cost but if you want more than that then there will be extra fees involved. They also offer an unlimited demo account so that you can try out their services before making any real deposits or trades with real money.

XM offers a wider range of instruments to choose from including stocks and commodities such as gold, oil, and silver among others so if these types appeal then this could be something worth considering when comparing brokers like eToro vs XM.”

eToro and XM: Customer service

For customers who like to contact their broker by phone, both eToro and XM offer a variety of ways to do so with 24/5 customer service. Both brokers also offer a choice between live chat and email support, though eToro’s chat service is currently only available in English while XM offers it in multiple languages including English, Spanish and Russian.

Both brokers have good reputations for providing reliable customer service so if you prefer speaking to someone on the phone or via chat, it won’t make much difference which one you choose. They also have similar ratings on Trustpilot where each has earned an average of 4 stars out of 5 from hundreds of reviews written by verified traders who’ve used them personally:

XM: 4.5 stars out of 5 with over 1,000 reviews eToro: 4.3 stars out of 5 with over 8,000 reviews

Who is better, eToro or XM?

You can’t choose between eToro and XM without first understanding what they have to offer. Both brokers have an impressive number of assets, which is helpful if you’re looking to trade a wide range of currency pairs and commodities. They also offer plenty of tools for beginners, including a trading simulator that can help you practice before using real money in the financial markets.

In comparison, XM has its own set of advantages over eToro: It has been around longer than its competitor, so it has more experience dealing with customers’ concerns—whether they’re technical glitches or simply questions about how to use its platform correctly. Furthermore, XM offers more currencies than eToro does (110 compared with just 70), making it easier for traders who want access not only to traditional currencies like USD/EUR/GBP but also emerging ones like Brazilian Real/Rupee/Yuan Renminbi/Mexican Pesos/Chinese Yuan Renminbi/.

Both brokers are very reliable and offer a wide range of instruments to trade in. When choosing, it’s important to consider what you’re looking for in a broker.

To make the right choice, you need to be sure that both brokers are trustworthy and reliable. Both eToro and XM have been in business for many years and have gained a good reputation over time. Both of them offer a wide range of instruments to trade in so that you can choose from a variety of asset classes: stocks, commodities, currencies, and more.

When choosing between these two forex brokers, it’s important to consider what you’re looking for in your broker. Fees, commissions, and spreads all play an important role in determining which one will be the best option for your trading needs.

Conclusion

In conclusion, the choice between eToro and XM depends on your personal preferences. If you’re looking for an easy way to trade with a broker and don’t mind paying a bit extra in fees, then eToro is a great option. If you prefer trading in a more traditional setting with the possibility of getting better customer service, then XM might be right for you!

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