Written by ForexBrokers.com
In this head to head comparison of FXCM vs Xtrade, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
FXCM, established in 1999, and Xtrade, founded in 2003, are prominent online brokers offering diverse trading services. FXCM stands out with a ForexBrokers.com Trust Score of 95, categorizing it as highly trusted. It is publicly traded, which adds to its transparency, and holds four Tier-1 licenses and two Tier-2 licenses, positioning it as a secure platform for traders. In contrast, Xtrade, with a Trust Score of 74, is considered to carry average risk. It is not publicly traded and holds one Tier-1 license and one Tier-2 license, indicating a moderate level of trust and regulatory oversight.
| Feature |
FXCM
|
Xtrade
|
|---|---|---|
| Year Founded | 1999 | 2003 |
| Publicly Traded (Listed) | Yes | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 1 |
| Tier-2 Licenses | 2 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
When it comes to evaluating FXCM and Xtrade based on their commissions and fees, FXCM offers a slightly more expensive pricing model compared to the industry average for forex trading. The broker's standard account spreads in May 2024 recorded an average of 0.78 pips on the EUR/USD for its EU, U.K., and Australia entities, while reaching 1.38 pips for its St. Vincent and the Grenadines entity, which is above the industry norm. However, FXCM's commission-based accounts showed a more competitive average spread of 0.28 pips, not including commissions. Additionally, FXCM provides significant discounts for active traders, with potential rebates ranging from $5 to $25 per million traded, depending on trading volume and tier.
Xtrade, on the other hand, does not provide specific average spread data for its offerings, which makes direct comparison challenging. This lack of transparency likely contributes to its lower star rating and rank. When it comes to commissions and fees, FXCM is rated with 4 stars by ForexBrokers.com and occupies the 24th spot among 62 brokers. In contrast, Xtrade has a rating of 2.5 stars, placing it at the very bottom at 62nd in the same category.
Aside from the higher-than-industry-average spreads, FXCM still stands out for its active trader discounts, which can substantially reduce trading costs depending on your monthly volume. Despite FXCM's competitive edge in certain commission-related aspects, Xtrade's lack of detailed spread information and lower rank suggest it might be less cost-effective for traders focusing on minimizing fees.
| Feature |
FXCM
|
Xtrade
|
|---|---|---|
| Minimum Deposit | Starts from $50 | $250 |
| Average Spread EUR/USD - Standard | 0.78 | N/A |
| All-in Cost EUR/USD - Active | 0.78 | N/A |
| Active Trader or VIP Discounts | Yes | No |
| ACH or SEPA Transfers | Yes | No |
| PayPal (Deposit/Withdraw) | Yes | No |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
FXCM and Xtrade both provide forex trading through Contracts for Difference (CFDs) or spot contracts, making them accessible options for those interested in currency trading. FXCM offers a slightly lower total number of tradeable symbols, at 440, compared to Xtrade’s 482. When it comes to forex pairs, Xtrade again takes the lead with 56 pairs available, while FXCM offers 43. Neither broker provides access to exchange-traded securities on U.S. or international exchanges, meaning clients cannot purchase shares like Apple or Vodafone directly.
In terms of cryptocurrency offerings, both FXCM and Xtrade allow clients to engage in cryptocurrency derivatives, though they do not facilitate buying the actual digital currencies themselves. An advantage for FXCM users is the availability of copy trading, a feature that Xtrade does not offer. Despite these differences, both brokers share an identical rating for their range of investments, with each receiving 3.5 stars. According to ForexBrokers.com, FXCM is slightly ahead in rankings at 47th place, while Xtrade is positioned at 49th among 62 brokers in the range of investments category.
| Feature |
FXCM
|
Xtrade
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 440 | 482 |
| Forex Pairs (Total) | 43 | 56 |
| U.S. Stock Trading (Non CFD) | No | No |
| Int'l Stock Trading (Non CFD) | No | No |
| Social Trading / Copy Trading | Yes | No |
| Cryptocurrency (Physical) | No | No |
| Cryptocurrency (Derivative) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
When choosing between FXCM and Xtrade for trading platforms and tools, several features stand out. Both brokers provide users with a simulated trading experience via free virtual demo accounts. They also offer proprietary platforms, ensuring a unique trading environment. While FXCM and Xtrade both include web-based platforms, only FXCM extends its offerings with a Windows-based desktop download platform. Additionally, FXCM supports MetaTrader 4 (MT4) and copy trading through ZuluTrade, whereas Xtrade does not offer these options.
When it comes to charting, FXCM lags behind in terms of drawing tools, offering only 10 compared to Xtrade's 100. However, FXCM provides 13 fields for watch lists, versus Xtrade's 9. Both allow trading directly from stock charts. FXCM's offerings result in a higher user rating of 5 stars for trading platforms and tools, compared to Xtrade's 3.5 stars. This favorable rating places FXCM at an impressive 6th out of 62 brokers, while Xtrade trails significantly at 58th. For traders prioritizing trading platform features and additional tools, FXCM presents a more comprehensive package.
| Feature |
FXCM
|
Xtrade
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | No | No |
| DupliTrade | No | No |
| ZuluTrade | Yes | No |
| Charting - Indicators / Studies (Total) | 115 | N/A |
| Charting - Drawing Tools (Total) | 10 | 100 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 13 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of FXCM and Xtrade, both brokers provide apps for iPhone and Android devices. However, FXCM stands out for its advanced features in the mobile trading space. FXCM provides users with stock and forex price alerts, a feature missing from Xtrade. Additionally, FXCM offers watchlist symbol syncing, allowing seamless integration between its mobile app and the client's online account. This capability means that any changes made in either location are automatically reflected, unlike Xtrade, which does not offer such syncing.
FXCM's app also excels in the realm of technical analysis. It boasts 59 technical studies for charting, giving traders extensive tools for evaluation, while Xtrade does not provide these studies. FXCM users can draw trendlines, view multiple time frames on their charts, and have any drawings automatically saved, features not available with Xtrade's app. Furthermore, FXCM supports real-time quote watchlists, enhancing the user trading experience. Rated at 4.5 stars and ranked #16 for Mobile Trading Apps by ForexBrokers.com, FXCM surpasses Xtrade, which holds a 4-star rating and ranks #53 in the same category.
| Feature |
FXCM
|
Xtrade
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 59 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | Yes | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When it comes to market research offerings, both FXCM and Xtrade provide daily market commentary and access to forex news from credible sources like Bloomberg and Reuters. However, FXCM takes a step further in its research capabilities. It supplies traders with technical analysis tools through Trading Central and offers a sentiment-based trading tool that shows a ratio of long or short positions. Additionally, FXCM includes market insights from TipRanks and provides a comprehensive economic calendar to track global news events, making it a more resourceful option in comparison to Xtrade.
Although both platforms offer valuable market commentary and news, FXCM is rated higher at 4.5 stars for its research capabilities, compared to Xtrade's 3.5 stars. In a comparative ranking by ForexBrokers.com of 62 brokers, FXCM stands proudly at #11 for research offerings, while Xtrade trails significantly, holding the #52 position. FXCM's enhanced research tools and better ratings present it as a more favorable choice for traders seeking in-depth market analyses and insights.
| Feature |
FXCM
|
Xtrade
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | No |
| Social Sentiment - Currency Pairs | Yes | No |
| TipRanks | Yes | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When exploring educational resources aimed at beginner traders, FXCM and Xtrade both provide a diverse range of opportunities, though FXCM stands out in several key areas. FXCM offers a comprehensive suite for those new to trading, with over 10 educational pieces tailored to forex and CFDs. In contrast, while Xtrade also meets this benchmark, FXCM takes it a step further by hosting monthly online educational webinars, an advantage not provided by Xtrade. FXCM facilitates continued learning with a searchable archive of past webinars, ensuring beginners have continuous access to valuable content. Additionally, FXCM impresses with more than 10 beginner-focused educational videos, a feature Xtrade lacks.
Furthermore, FXCM distinguishes itself with an array of advanced educational videos, catering to more experienced traders, while Xtrade does not offer this depth of content. Both platforms do provide a comprehensive investor dictionary with over 50 investing terms, aiding in building foundational knowledge. In terms of satisfaction, FXCM's educational offerings earn it a rating of 4.5 stars, compared to Xtrade’s 3.5 stars. Reflecting these differences, FXCM is ranked #14 out of 62 brokers for education by ForexBrokers.com, while Xtrade sits at #46, highlighting FXCM’s more favorable reception in this category.
| Feature |
FXCM
|
Xtrade
|
|---|---|---|
| Education (Forex or CFDs) | Yes | Yes |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | No |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that FXCM is better than Xtrade. FXCM finished with an overall rank of #15, while Xtrade finished with an overall rank of #59.
For traders who appreciate advanced trading tools and quality market research, FXCM is a winner, especially for algorithmic trading. Its range of tradeable markets is fairly narrow, however, and the pricing at FXCM is just average.
| Feature |
FXCM
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Xtrade
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|---|---|---|
| Overall Rating |
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| Trust Score | 95 | 74 |
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Both FXCM and Xtrade do not offer the ability to buy actual (delivered) cryptocurrency, but they do provide options for trading cryptocurrency derivatives.
When comparing FXCM and Xtrade for online trading, FXCM provides more diverse deposit and withdrawal options such as ACH, SEPA, and PayPal, alongside common methods like Skrill, Visa, Mastercard, and bank wires, whereas Xtrade lacks ACH, SEPA, and PayPal, but supports Skrill, Visa, Mastercard, and bank wires.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | FXCM | Xtrade | |
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| Trust Score | 95 | 74 | |
| Winner | check_circle | ||
| Review | FXCM Review | Xtrade Review |
| Broker Screenshots | FXCM | Xtrade | |
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| Regulation | FXCM | Xtrade | |
|---|---|---|---|
| Trust Score | 95 | 74 | |
| Year Founded | 1999 | 2003 | |
| Publicly Traded (Listed) | Yes | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 1 | |
| Tier-2 Licenses | 2 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | FXCM | Xtrade | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | Yes | No | |
| Hong Kong (SFC Authorised) | No | No | |
| Japan (SFC Authorised) | No | No | |
| Singapore (MAS Authorised) | No | No | |
| Switzerland (FINMA Authorised) | No | No | |
| United Kingdom (U.K.) (FCA Authorised) | Yes | No | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | FXCM | Xtrade | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | Yes | No | |
| South Africa (FSCA Authorised) | Yes | Yes | |
| UAE (DFSA/Central Bank Authorised) | No | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | FXCM | Xtrade | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 440 | 482 | |
| Forex Pairs (Total) | 43 | 56 | |
| U.S. Stock Trading (Non CFD) | No | No | |
| Int'l Stock Trading (Non CFD) | No | No | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Physical) | No | No | |
| Cryptocurrency (Derivative) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | FXCM | Xtrade | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.78 | N/A | |
| All-in Cost EUR/USD - Active | 0.78 | N/A | |
| Active Trader or VIP Discounts | Yes | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | Yes | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | FXCM | Xtrade | |
|---|---|---|---|
| Minimum Deposit | Starts from $50 | $250 | |
| PayPal (Deposit/Withdraw) | Yes | No | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | Yes | No |
| Trading Platforms | FXCM | Xtrade | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | Yes | No |
| Trading Tools | FXCM | Xtrade | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 13 | 9 | |
| Charting - Indicators / Studies (Total) | 115 | N/A | |
| Charting - Drawing Tools (Total) | 10 | 100 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | FXCM | Xtrade | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | No | |
| Mobile Watchlist | Yes | No | |
| Watchlist Syncing | Yes | No | |
| Mobile Charting - Indicators / Studies | 59 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Mobile Economic Calendar | Yes | No |
| Research | FXCM | Xtrade | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | No | |
| TipRanks | Yes | No | |
| Social Sentiment - Currency Pairs | Yes | No | |
| Economic Calendar | Yes | Yes |
| Education | FXCM | Xtrade | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | No | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | Yes | Yes |
| Major Forex Pairs | FXCM | Xtrade | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | FXCM Review | Xtrade Review |
| Overall | FXCM | Xtrade | |
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| Trust Score | 95 | 74 | |
| Winner | check_circle | ||
| Review | FXCM Review | Xtrade Review |
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