XM vs Binance, for 2024
XM Rating
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Binance Rating
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77.29% of retail investor accounts lose money when trading CFDs with this provider. |
Your capital is at risk |
XM vs Binance Guide |
Read our In-Depth XM vs Binance Review - Updated for 2024
This XM vs Binance review has been revised for 2024 from industry experts boasting considerable financial experience in Social Trading, Forex, & CFDs.
Please note that due to regulations for each broker, the content in this comparison of XM vs Binance does not apply to all countries as follows:
XM Excluded Countries
Canada, Israel, and United States of America.
Binance Excluded Countries
Brazil, Republic of Korea, Iran, Iraq, Syrian Arab Republic, Japan, and United States of America.
Compare XM vs Binance
Each trading platforms has certain ups and downs, and any comprehensive review of XM and Binance should not be complete without having an objective perspective.
Examine Binance and XM to get a better understanding of just how they line up to one another before you choose to open an account. Performing a comparative analysis can bring aspects into perspective so that you remain informed about the expectations.
So you are looking for a broker and are choosing between XM or Binance. Who is better in 2024?
Our XM vs Binance comparison contains the latest information so you can easily compare Binance against XM.
If you are a new entrant in the world of trading and brokerages, so many nuances will be confusing for you. Getting into the area of trading demands expert assessing skills and comprehensive understanding. You will get proficient at all of the concepts of brokerage since you continue trading. For starters, you need to choose the right broker who'll be transparent with you constantly.
In this fast-paced world of stock markets and trading, you will need advice to make proper decisions. A professionally lead investment plan has the potential to generate hefty returns. XM and Binance are just two such trading platforms which will take you along with your investment to great heights. It is important to compare XM vs Binance before you trust them with your money.
Our XM vs Binance comparison will help you judge the effectiveness, price, ease of use and customer support, and whether you can trust XM and Binance side by side.
Our entire XM vs Binance Review covers everything you need to learn about trading with either XM or Binance. A good agent can multiply your initial investments and give you favorable profits. If you would like to make profits, you must trade with a broker service that aligns with your investment goals.
There's absolutely no sure-fire way to ensure profits; therefore, you should carefully analyze your broker before you select them. It's a common misconception that all brokers will be the same, but that's not correct. Wrong judgment, initially, can set your investments at risk.
XM and Binance are both brokers which have forged their way successfully into the brokerage world. In this review, we've tried to collate some of the important facets of both XM and Binance. This review can help you to know whether either Binance or XM is a fantastic fit for your investments or not. We have tried to breakdown all the features and fees for your convenience.
Benefits of XM and Binance Compared
XM has a minimum deposit of $5 while Binance has a $100 minimum deposit.
Why smaller minimum deposits are good and how XM and Binance compare
The main reason is that you should only deposit what you can afford. If you you have a lower budget, the broker that offers the lowest deposit option will be more attractive. The other reason is because when speculating on riskier but potentially more rewarding financial instruments you should look to speculate with only a small percentage of your allocated trading funds. Don't let a higher minimum deposit totally put you off a broker, look at the overall trading features you are getting from the trading platform. Often a high minimum deposit gives greater choice in the financial assets and trading platform research features.
XM has around 100 financial instruments while Binance allows you to trade around 100 financial instruments on their platform.
The more financial instruments you can trade on the XM and Binance trading platforms the better. It is good to have a diverse portfolio and the options available to a user will always vary. Trading is all about grasping potential opportunities and you never want to miss out on a trading opportunity due to the limitations of XM or Binance.
XM and Binance Contact Details
Being able to contact an online trading platform through many ways is important. XM and Binance have the following contact details and social medias that you can use.
Broker | XM | Binance |
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Telephone Number | +357 250 29933 | +1 929 228 3440 |
support@xm.com | support@binance.com | |
Address | 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus | Melita Court Level 3 Triq Giuseppe Cali Ta' Xbiex XBX 1420 Malta |
XM Twitter Account | Binance Twitter Account | |
XM Facebook Page | Binance Facebook Page | |
XM Instagram Account | Binance Instagram Account | |
XM LinkedIn Page | Binance LinkedIn Page | |
YouTube | XM YouTube Channel | Binance YouTube Channel |
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Binance and XM Mobile App Comparison
As more and more traders and investors use their smartphones for trading, it is increasingly important that brokers offer easy-to-use apps that can deliver the same services as desktop platforms.
This part of comparing XM and Binance will examine whether their mobile app meets all our requirements.
We rate overall the user-friendliness of the apps as Better than the average.
It is crucial that trading apps have user-friendly capabilities, especially for those who use it with their smartphones.
Search Functions
While most brokers are good at this, there are some poor ones. If you type 'Emerging markets' into the search box, the software will find all Emerging market ETFs, even if the name doesn't begin with 'emerging'. If you only ever traded US stocks and start typing 'Apple', will the AI show you the Apple stock or the obscure Irish stock Applegreen?
XM vs Binance - Awards
Broker | XM | Binance |
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Awards |
XM have won several industry awards over the years they have been running as an online trading platform. We detail the most recognised awards for XM here.
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At the time of writing this Binance review, and despite Binance’s impressive offering, the company has surprisingly not garnered any awards to date. |
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XM vs Binance - Frequently Asked Questions
XM vs Binance - Headquarters And Year Of Founding
XM was founded in 2009 and has its head office in Cyprus.
Binance was founded in 2017 and has its head office in Japan.
What is the minimum deposit for Binance or XM
The minimum deposit for XM is $5.
The minimum deposit for Binance is $100.
Depending on your needs, a lower minimum deposit can be beneficial. If you are experienced with forex trading but are looking for a change then both XM and Binance are a good option.
XM vs Binance - Regulation And Licencing In More Detail
XM is regulated by International Financial Services Commission(IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC).
Binance is regulated by Unregulated.
Binance is unregulated but XM has a strong set of rules for ensuring fair trading on its individual platforms. For information encryption purposes, they provide industry-standard secure socket layer (SSL).
As per their own privacy regulation, customer information is never to be shared with any other institutions or individuals. This includes credit history and other financial information.
Compare XM vs Binance Commission And Fees
XM and Binance are online brokerage platforms, and most online brokerages charge lower prices than traditional brokerages tend to bill. The reason for this is that the businesses of online brokerages are scaled much better. In other words, an online broker is not necessarily influenced by the number of customers they have.
But this does not necessarily mean that online brokers do not charge any fees. They charge prices of varying rates for various services to earn money. There are primarily 3 types of penalties for this objective.
The first kind of fees to keep an eye out for are trading charges. Whenever you make an actual trade, like purchasing a stock or an ETF, you are charged trading charges. In these cases, you're spending a spread, financing speed, or a commission. The sorts of trading fees and the prices differ from broker to broker.
Commissions could be fixed or determined by the traded volume. On the flip side, a spread denotes the gap between the buying and selling price. Funding or overnight rates are those who are charged when you maintain a leveraged position for longer than daily.
Aside from trading fees, online agents also charge non-trading fees. These are dependent on the actions you undertake on your account. They are charged for operations like depositing money, not investing for lengthy periods, or withdrawals.
In general, neither XM or Binance charge high fees compared to other online brokers. For operations other brokers charge for, they either do not charge a broker fee, or they charge a lesser amount. This can be beneficial for people who regularly trade, such as daily or weekly trading.
However, non-trading fees billed by XM and Binance are relatively competitive. As a result, you are billed more for non-trading actions in your trading account, like deposits and withdrawal. These aren't about the purchase and sale of assets.
This XM vs Binance review for 2024 breaks down every one of the relevant non-trading charges for you in detail.
Compare Broker Fees For XM And Binance
What Languages Do XM And Binance Support?
Being able to talk completely with your online broker is a key element when comparing online brokers to find the best trading partner. Not only for support but to ensure you completely understand everything on their website and inside their app as it is a key factor to success when trading online.
Below you will find all the languages that both XM and Binance offer communication in.
How Many Clients Do XM and Binance Have?
Both XM and Binance are well known and trusted. It is important to work with a broker that is reputable and one of the easiest ways of establishing this is by knowing how many clients they already work with.
Below you will find details of how many clients XM and Binance have
Broker | XM | Binance |
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Clients / Users | 3,500,000+ | 13500000 |
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What Payment Methods Do XM and Binance Accept?
XM and Binance both offer a wide range of payment options which is vital when you have a global customer base.
Below you will find details of all the payment options available at XM and Binance
What Can You Trade With XM and Binance?
XM offers 100 trading instruments and Binance offers 52.
Below you will find a full breakdown of what both XM and Binance offer.
XM Review
XM vs Binance:
Table Of Contents
- Compare XM vs Binance
- Benefits of XM and Binance Compared
- Binance and XM Mobile App Comparison
- XM vs Binance - Awards
- XM vs Binance - Frequently Asked Questions
- What is the minimum deposit for Binance or XM
- XM vs Binance - Regulation And Licencing In More Detail
- Compare Broker Fees For XM And Binance
- What Languages Do XM And Binance Support?
- How Many Clients Do XM and Binance Have?
- What Payment Methods Do XM and Binance Accept?
- What Can You Trade With XM and Binance?