Written by ForexBrokers.com
In this head to head comparison of XM Group vs iFOREX, 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.
Choosing an online broker can be daunting when considering factors like trustworthiness and regulatory backing. XM Group, established in 2009, holds a favorable position in terms of trust with a ForexBrokers.com Trust Score of 88, placing it in the "trusted" category, just shy of the top level. Boasting four Tier-1 licenses and one Tier-2 license, XM Group exhibits a strong regulatory standing. Despite its reputable status, the company is not publicly traded nor classified as a bank, aligning with many other online brokers.
iFOREX, on the other hand, commenced its operations in 1996 and has a ForexBrokers.com Trust Score of 75, indicating an average risk level. It holds only one Tier-1 license and carries no Tier-2 licenses. This positions iFOREX differently in the regulatory landscape compared to XM Group. Similar to XM Group, iFOREX is not publicly traded and is not a banking institution. The differences in trust scores and licenses highlight key considerations that potential investors might weigh when choosing between these online brokers.
| Feature |
XM Group
|
iFOREX
|
|---|---|---|
| Year Founded | 2009 | 1996 |
| Publicly Traded (Listed) | No | No |
| Bank | No | No |
| Tier-1 Licenses | 4 | 1 |
| Tier-2 Licenses | 1 | 0 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 1 | 1 |
When comparing XM Group and iFOREX in terms of commissions and fees, one can spot significant differences. XM Group offers a Standard account, which is characterized by rather high spreads. Unfortunately, the average spreads for its XM Zero account, which is based on commission, are not disclosed. Despite this lack of transparency, XM Group receives a relatively favorable rating, earning 4 out of 5 stars for its commissions and fees. When ranked by ForexBrokers.com among 62 brokers, XM Group stands at the 33rd position.
iFOREX, on the other hand, does not provide average spread data, which poses a challenge for potential clients seeking clear cost information. The absence of detailed average spread figures reflects in its customer ratings, as iFOREX scores a modest 3 out of 5 stars for commissions and fees. ForexBrokers.com ranks iFOREX quite low in the Commissions and Fees category, placing it at 60th out of 62 brokers.
In summary, both XM Group and iFOREX have room for improvement in transparency regarding fees and spreads. However, XM Group appears to have a slight edge over iFOREX in both ratings and rankings from ForexBrokers.com. It's essential for potential clients to consider these factors when selecting an online broker, as hidden fees and unclear spreads can significantly impact trading costs.
| Feature |
XM Group
|
iFOREX
|
|---|---|---|
| Minimum Deposit | $5 | $100 |
| Average Spread EUR/USD - Standard | 1.6 | N/A |
| All-in Cost EUR/USD - Active | 0.8 | N/A |
| Active Trader or VIP Discounts | No | No |
| ACH or SEPA Transfers | No | No |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | Yes | Yes |
| Visa/Mastercard (Credit/Debit) | Yes | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
XM Group and iFOREX both offer Forex trading as a CFD or spot contract, making them attractive options for traders interested in currency markets. However, XM Group provides a wider array of tradeable symbols, boasting 1,394 compared to iFOREX's 750. Despite having fewer tradeable symbols overall, iFOREX is strong in Forex pairs, offering 88 compared to XM Group's 55. Additionally, both brokers offer cryptocurrency derivatives, but neither allows the purchase of actual cryptocurrencies.
When considering exchange-traded securities, XM Group has a clear advantage, allowing clients to buy shares on both U.S. and international exchanges. In contrast, iFOREX does not offer this option. XM Group also provides copy trading, which is absent from iFOREX's services. For these reasons, XM Group is rated higher in the Range of Investments category, earning 4.5 stars and ranking 23rd out of 62 brokers, while iFOREX scores 3.5 stars and ranks 41st according to ForexBrokers.com.
| Feature |
XM Group
|
iFOREX
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 1394 | 750 |
| Forex Pairs (Total) | 55 | 88 |
| U.S. Stock Trading (Non CFD) | Yes | No |
| Int'l Stock Trading (Non CFD) | Yes | 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.
XM Group and iFOREX both have their unique strengths and weaknesses in terms of trading platforms and tools. XM Group stands out with its support for both MetaTrader 4 (MT4) and MetaTrader 5 (MT5), providing traders with popular and versatile platforms. It also offers a Windows-based desktop download option and a web-based trading platform, allowing users flexibility in how they trade. Furthermore, XM Group supports simulated trading through a free virtual demo account, which is a valuable feature for beginners honing their skills. Additionally, copy trading is available, expanding the potential strategies traders can employ. On the other hand, XM Group lacks its own proprietary platform, but with a 4-star rating for its tools and platforms, it ranks 30th out of 62 brokers, showing strong overall performance in this category.
In contrast, iFOREX appeals to those looking for a simplified trading experience, thanks to its exclusive use of a proprietary platform designed in-house. However, it does not support MetaTrader platforms or offer a desktop application, and beginners might miss the absence of a free virtual demo account for paper trading. Despite this, iFOREX provides a web-based platform and allows trading directly from stock charts. The platform includes a variety of 25 drawing tools for charting, surpassing the offerings of XM Group, and allows for more detailed watch lists with nine columns for fields. Nevertheless, with the same 4-star rating as XM Group but a lower ranking of 54 out of 62 brokers by ForexBrokers.com, iFOREX might suit those who value proprietary software over third-party trading platforms.
| Feature |
XM Group
|
iFOREX
|
|---|---|---|
| Virtual Trading (Demo) | Yes | No |
| Proprietary Platform | No | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Social Trading / Copy Trading | Yes | No |
| MetaTrader 4 (MT4) | Yes | No |
| MetaTrader 5 (MT5) | Yes | No |
| DupliTrade | No | No |
| ZuluTrade | No | No |
| Charting - Indicators / Studies (Total) | 30 | 57 |
| Charting - Drawing Tools (Total) | 15 | 25 |
| Charting - Trade From Chart | Yes | Yes |
| Watchlists - Total Fields | 7 | 9 |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
When comparing the mobile trading apps of XM Group and iFOREX, both platforms cater to iPhone and Android users, ensuring a broad range of device compatibility. XM Group stands out for providing several advanced features that are not available with iFOREX. This includes price alerts and the ability to sync watchlists seamlessly between the mobile app and online accounts. Additionally, XM Group allows traders to conduct technical analysis with 30 studies and draw trendlines on charts, enhancing decision-making processes. It also supports viewing multiple time frames for stock or forex charts, which is a feature absent in the iFOREX app. Both platforms, however, lack the functionality to auto-save drawings on charts.
Furthermore, XM Group allows users to build watchlists with real-time quotes, whereas iFOREX does not offer this feature. Both brokers receive a rating of 4 stars for their mobile trading apps, reflecting user satisfaction. However, in rankings by ForexBrokers.com, XM Group takes a lead, securing the 27th position out of 62 brokers, while iFOREX trails behind at 55th. This notable difference highlights XM Group as a more preferred choice for traders looking for a feature-rich mobile trading experience.
| Feature |
XM Group
|
iFOREX
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Alerts - Basic Fields | Yes | No |
| Watchlist Syncing | Yes | No |
| Mobile Charting - Indicators / Studies | 30 | N/A |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Multiple Time Frames | Yes | No |
| Mobile Charting - Drawings Autosave | No | No |
| Mobile Watchlist | Yes | No |
Dive deeper: Best Forex Trading Apps.
When comparing XM Group and iFOREX in terms of market research offerings, both brokers provide daily market commentary, helping traders stay informed with current insights. However, XM Group offers a notable edge by providing forex news from top-tier sources such as Bloomberg, Reuters, and Dow Jones, unlike iFOREX, which lacks this access. While neither platform provides technical analysis tools from Autochartist, both make up for it with the inclusion of Trading Central’s resources, proving useful for users requiring comprehensive technical analytics. Additionally, both brokers feature sentiment-based trading tools and economic calendars, equipping traders with valuable data and trends in global markets.
Despite some similarities, XM Group outshines iFOREX with a perfect five-star rating for research, compared to iFOREX’s 3.5-star rating. XM Group’s high-quality research capabilities place it at 8th among 62 brokers according to ForexBrokers.com, while iFOREX is ranked at 48th, indicating a more limited scope for in-depth market analysis. Although neither broker integrates resources from TipRanks or Acuity Trading, XM Group remains the stronger choice for traders seeking comprehensive and reliable research tools.
| Feature |
XM Group
|
iFOREX
|
|---|---|---|
| Daily Market Commentary | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | No |
| Autochartist | No | No |
| Trading Central (Recognia) | Yes | Yes |
| Social Sentiment - Currency Pairs | Yes | Yes |
| TipRanks | No | No |
| Signal Centre (Acuity Trading) | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
When it comes to educational resources for beginners, XM Group stands out compared to iFOREX. XM Group offers more than 10 educational resources on forex or CFDs, including articles, videos, and archived webinars, while iFOREX falls short in this area. Additionally, XM Group provides live monthly webinars and a searchable archive of recorded sessions, making it easier for beginners to access learning materials at their convenience. Both platforms provide at least 10 beginner-friendly videos, but XM Group takes it a step further with advanced educational videos, which iFOREX does not offer.
For those seeking a wealth of educational content, XM Group is a clear winner, boasting a five-star rating for its educational offerings and ranking 7th out of 62 brokers in the education category. In contrast, iFOREX has a 3.5-star rating and is ranked 53rd. While neither platform includes an extensive investor dictionary, XM Group’s comprehensive approach to forex education makes it an excellent choice for new traders eager to learn.
| Feature |
XM Group
|
iFOREX
|
|---|---|---|
| Education (Forex or CFDs) | Yes | No |
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | No |
| Investor Dictionary (Glossary) | No | No |
Dive deeper: Best Forex Brokers for Beginners.
After testing 62 of the best forex brokers, our research and account testing finds that XM Group is better than iFOREX. XM Group finished with an overall rank of #17, while iFOREX finished with an overall rank of #52.
XM Group is a MetaTrader-only broker that offers a strong selection of high-quality educational content and market research.
| Feature |
XM Group
|
iFOREX
|
|---|---|---|
| Overall Rating |
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| Trust Score | 88 | 75 |
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Both XM Group and iFOREX do not provide the option to buy actual (delivered) cryptocurrencies, but they do offer the ability to trade cryptocurrency derivatives.
When comparing the online brokers XM Group and iFOREX, neither supports ACH or SEPA transfers, but while iFOREX accepts PayPal for transactions, XM Group does not; both brokers, however, facilitate deposits and withdrawals via 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 | XM Group | iFOREX | |
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| Trust Score | 88 | 75 | |
| Winner | check_circle | ||
| Review | XM Group Review |
| Broker Screenshots | XM Group | iFOREX | |
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| Regulation | XM Group | iFOREX | |
|---|---|---|---|
| Trust Score | 88 | 75 | |
| Year Founded | 2009 | 1996 | |
| Publicly Traded (Listed) | No | No | |
| Bank | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 4 | 1 | |
| Tier-2 Licenses | 1 | 0 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 1 | 1 |
| Tier-1 Licenses (Highly Trusted) | XM Group | iFOREX | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | No | |
| Canada (CIRO Authorised) | No | 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) | No | Yes | |
| 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) | XM Group | iFOREX | |
|---|---|---|---|
| Kenya (CMA Authorised) | No | No | |
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA/Central Bank Authorised) | Yes | No | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) | No | No |
| Investments | XM Group | iFOREX | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 1394 | 750 | |
| Forex Pairs (Total) | 55 | 88 | |
| U.S. Stock Trading (Non CFD) | Yes | No | |
| Int'l Stock Trading (Non CFD) | Yes | 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 | XM Group | iFOREX | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 1.6 | N/A | |
| All-in Cost EUR/USD - Active | 0.8 | N/A | |
| Active Trader or VIP Discounts | No | No | |
| Inactivity Fee | Yes | No | |
| Execution: Agency Broker | No | No | |
| Execution: Market Maker | Yes | Yes |
| Funding | XM Group | iFOREX | |
|---|---|---|---|
| Minimum Deposit | $5 | $100 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | Yes | Yes | |
| Visa/Mastercard (Credit/Debit) | Yes | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| ACH or SEPA Transfers | No | No |
| Trading Platforms | XM Group | iFOREX | |
|---|---|---|---|
| Proprietary Platform | No | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | Yes | No | |
| MetaTrader 5 (MT5) | Yes | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No |
| Trading Tools | XM Group | iFOREX | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | No | |
| Alerts - Basic Fields | Yes | No | |
| Watchlists - Total Fields | 7 | 9 | |
| Charting - Indicators / Studies (Total) | 30 | 57 | |
| Charting - Drawing Tools (Total) | 15 | 25 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | No |
| Mobile Trading | XM Group | iFOREX | |
|---|---|---|---|
| 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 | 30 | N/A | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Multiple Time Frames | Yes | No | |
| Mobile Charting - Drawings Autosave | No | No | |
| Mobile Economic Calendar | Yes | No |
| Research | XM Group | iFOREX | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | No | |
| Autochartist | No | No | |
| Trading Central (Recognia) | Yes | Yes | |
| TipRanks | No | No | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | XM Group | iFOREX | |
|---|---|---|---|
| Education (Forex or CFDs) | Yes | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | No | |
| Investor Dictionary (Glossary) | No | No |
| Major Forex Pairs | XM Group | iFOREX | |
|---|---|---|---|
| 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 | XM Group Review |
| Overall | XM Group | iFOREX | |
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| Trust Score | 88 | 75 | |
| Winner | check_circle | ||
| Review | XM Group Review |
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