XM Alternatives: Pros, Cons, And How It Stacks Up 2023 Update
This alternatives to XM guide has been updated for 2023 by industry experts with years of financial experience in Forex, CFDs, & Social Trading. We have worked to gather hundreds of data points about the alternatives to XM to make sure you have as much information as possible to make an informed decision.
There are a lot of good alternatives to XM like Startrader, freetrade, and easyMarkets. They all provide the same, if not more, features to their users. If you feel that XM is not quite right for you then it would be worth getting a demo account with a lot of the best XM alternatives and check if they are a better fit for you before moving any money around.
The most in depth review of XM alternatives on the internet
There are a lot of reasons XM may not be a good fit for you. Whatever reason you are looking for a better XM alternative or XM competitor with better services, we try to give you as much helpful information so you can find what it is you need. Below you can find the top XM alternatives.
For each of our alternative to XM, we break down the key differences to XM and for each platform feature show you the best alternatives. For each XM alternative online trading platform shown we also have detailed broker reviews and guides that you can easily click to view elsewhere on comparebrokers.org, all based on hundreds of datapoints collected and reviewed by experts. If you are unhappy with XM, we can show you some great alternative brokersbrokers|online trading platforms|brokerages.
Having a professional and dependable trading platform is important for having a successful trading career. All of the XM alternative brokers shown in this XM alternatives guide have good reputations and can match what you are looking for.
Alternatives With Lower Minimum Deposit
XM has a minimum desposit of $5, you can check how the minimum deposit requirements of XM compare with the minimum deposits of XM competitors. Brokers often offer lower minimum deposits to get users to join with them, but having higher a minimum deposit isn’t always a bad thing, it all depends on your individual trading needs.
| Broker | Minimum Deposit | Find Out More |
|---|---|---|
|
XM |
$5 | |
| freetrade |
$0 | |
| easyMarkets |
$100 | |
| Uphold |
$1 | |
| instaforex |
$250 |
Alternatives Offering Virtual Portfolio Accounts
XM offers virtual portfolio accounts so you can learn their systems before risking any real capital. Newbie traders can open a virtual portfolio account in order to become better acquainted with the areas of Forex trading and test out some of the company’s features before getting a live account.
Below we list some of the best alternatives to XM that have virtual portfolio accounts.
| Broker | Offers Demo Account? | Find Out More |
|---|---|---|
|
XM |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
Yes |
|
Alternatives Offering Negative Balance Protection
XM has negative balance protection. It is specially offered when the market volatility keeps customers from allowing their accounts go in the red. In such a scenario, XM provides the ability to reset a clients account balance to zero.
You can go through the critical terms and conditions on XM's site to comprehend their policies better.
Below we show some of the best alternatives to XM that have negative balance protection.
| Broker | Offers Negative Balance Protection? | Find Out More |
|---|---|---|
|
XM |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| Uphold |
Yes |
Alternatives Offering Guaranteed Stop Loss
XM regrettably, doesn't offer guaranteed stop loss. XM gives an opportunity for its traders to close their trade at their specified price. Aside from that, XM does not provide guaranteed stop loss.
Below we list some of the best XM alternatives that have guaranteed stop loss available for their customers.
| Broker | Offers Guaranteed Stop Loss? | Find Out More |
|---|---|---|
|
XM |
No | |
| easyMarkets |
Yes | |
| Uphold |
Yes | |
| instaforex |
Yes | |
| FreshForex |
Yes |
Alternatives Offering Scalping
XM do permit scalping. Several traders across the world choose XM for their services that are trading. They offer trading on MT4, MT5, Mac, Web Trader, Tablet & Mobile apps which let this.
Below we show some of the top alternatives to XM that offer scalping functionality to their users.
| Broker | Offers Scalping? | Find Out More |
|---|---|---|
|
XM |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
No |
|
Alternatives That Allow Hedging
XM do allow hedging. Several traders around the world choose XM due to their hedging services. They offer trading on MT4, MT5, Mac, Web Trader, Tablet & Mobile apps.
Below we detail some of the top alternatives to XM that allow hedging services to their client base.
| Broker | Offers Hedging? | Find Out More |
|---|---|---|
|
XM |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
No |
|
Alternatives That Allow Social Trading
To build a strong community of traders and investors, and to encourage successful traders to share their wisdom, XM offers social trading which encompasses leading traders sharing their knowledge with the community. Which stocks they are following, what stocks to buy, and what stocks to sell. Intermediate traders can then absorb this expert knowledge and create their own trades. This is independent copy trading..
Below we detail some of the best XM alternatives that offer social trading capabilities.
| Broker | Offers Social Trading? | Find Out More |
|---|---|---|
|
XM |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
No |
|
Alternatives That Allow Copy Trading
XM's copy trading platform allows traders to share their expertise with others to build a community of investors and traders. Which stocks they are following, what stocks to buy, and what stocks to sell. Intermediate traders can then absorb this expert knowledge and create their own trades. This is calculated social trading..
Below we list some of the top alternatives to XM that allow copy trading to their clients
| Broker | Offers Copy Trading? | Find Out More |
|---|---|---|
|
XM |
Yes | |
| Startrader |
Yes | |
| freetrade |
Yes | |
| easyMarkets |
Yes | |
| PUPRIME |
No |
|
Compare XM To All Other Brokers