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Alison Heyerdahl is the Head of Content at FxScouts, a Chartered Market Technician (CMT), and an experienced trader, as well as a financial writer with extensive expertise in Forex trading, broker analysis, and market research. She has reviewed 100+ brokers, publishes weekly YouTube trading videos, and co-hosts the “Let’s Talk Forex” podcast.
In the fast-paced world of forex trading, choosing the right broker is crucial. XM and Trading 212 are two popular options, each with unique strengths and weaknesses. This comparison will dive into the key features of both platforms,helping you decide which one best suits your trading style and goals.
The radar chart above illustrates the comparison between XM and Trading 212 across several key metrics, with the highest possible score being 100 in each category.
At FxScouts, our mission is to assist traders in finding the broker that best suits their needs. Comparing brokers side-by-side is an effective method to achieve this goal. We evaluated XM and Trading 212, using our standard criteria: trust and regulation, trading platforms, costs and trading conditions, and educational and market analysis resources.
Trust and regulation are crucial when selecting a Forex broker. A broker’s credibility is largely built on its regulatory status. We spend considerable time verifying the safety of each broker by examining their regulatory licenses. We also consider numerous factors when deciding which tier a regulator belongs to. Regulators that we rank as the world’s top regulators, gets a tier 1 rank, while regulators who only scores a tier 5-rank, provide virtually no regulatory oversight. The more top-tier authorities regulating a broker, the higher its trust rating. Read more about regulation and our tier system here.
In our comparison:
Based on these findings, Trading 212 earned a higher trust rating than XM.
When comparing brokers, trading costs are a significant factor. We consider the minimum deposit required to open an account and ongoing costs, including spreads and commissions. We measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit, including both the spread and any commission charged.
We found that XM has overall lower trading costs than Trading 212.
Trading Platforms Offered Traders prefer brokers that offer a variety of trading platforms. We rate brokers higher if they support multiple platforms like MetaTrader4, MetaTrader5, cTrader, and proprietary platforms.
Copy trading is beneficial for beginner traders or those unable to trade full-time. In this case both Trading 212 and XM offer copy trading.
A broader range of CFD instruments provides more trading opportunities. Trading 212 offers a greater variety of instruments compared to XM:
For those interested in trading cryptocurrencies, XM offers 60 cryptocurrencies, while Trading 212 offers 0 cryptocurrencies. Therefore, XM is the better choice for cryptocurrency trading.
Traders prefer brokers with quick and cost-effective deposit and withdrawal processes. We favor brokers that process withdrawals within 24 hours using multiple methods without charging fees.We found that neither Trading 212 nor XM charges a withdrawal fee. Overall, XM has better deposit and withdrawal processes than Trading 212.
We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas.
XM has better educational support than Trading 212. Both Trading 212 and XM offer educational support for more experienced traders.Access to frequent and high-quality market research and analysis is crucial.
We found that XM offers better research analysis than Trading 212 and that both Trading 212 and XM offer frequent webinars.
XM has some of the lowest fees in the industry, provides excellent research and education, and has a beginner-friendly trading app. With a large customer base and a good reputation, XM will be a good option for most Filipino traders. It also has an outstanding range of trading tools and offers traders generous bonuses and incentives.
XM offers four trading accounts, three of which have a minimum deposit of 5 USD and have no commissions for Forex trading. The highlight is the commission-free Ultra Low Account with spreads that start at 0.6 pips (EUR/USD).
The main drawback is that XM’s Filipino clients will be trading through XM’s company in Belize, which has poor regulatory oversight. However, they will still have negative balance protection and can rest assured that their funds are kept in segregated accounts.
Please Note: Although Trading212 accepts traders from the Philippines, traders will be put on a waiting list.
A well-regulated broker, Trading212 appeals to traders looking for a large number of tradable assets and a simple account structure. However, traders should be aware that Trading212 is primarily a low-cost stock broker and that its CFD spreads are significantly wider than other brokers.
With over 1800 financial instruments, including over 180 Forex pairs, commodities, equities, ETFs, and indices, Trading212 offers a much wider range of tradable instruments than other similar brokers.
Trading is only offered on the Trading212 platform, which has a simple and intuitive interface, but does not have the execution speeds of third-party platforms such as MT4 and MT5 and does not have algorithmic trading capabilities. Trading212 also only offers one live commission-free account, with a minimum deposit of 10 USD, but spreads that average at 2.40 pips on the EUR/USD, making it an uncompetitive offer.
Educational and market analysis materials are also limited, making it a poor choice for beginner traders, but it does offer a free, unlimited demo account. Additionally, customer service is only available via a ticketing system, and its response times are extremely slow.
For more detailed reviews, please read our comprehensive assessments of XM and Trading 212.
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Broker | Countries Regulated | Minimum Spread EUR/USD | Minimum Deposit | Trading cost/lot EURUSD Total trading cost at the time of last update, for 1 lot of EUR/USD using the account with the lowest minimum deposit. Includes spread and commission. | Broker Score | Broker Website | Select and Compare |
|---|---|---|---|---|---|---|---|
 |       | 0.10 pips | USD 3 | USD 7 | |||
 |  | 0 pips | USD 0 | USD 10 | |||
 | | 0.10 pips | USD 200 | USD 8 | |||
 |  | 0.70 pips | USD 10 | USD 17 | |||
 |  | 0 pips | AUD 0 | USD 4.50 | |||
 |    | 0.90 pips | USD 100 | USD 9 | |||
| | 0.60 pips | USD 5 | USD 6 | |||
 | | 0 pips | USD 0 | USD 10 | |||
 |   | 0.70 pips | USD 5 | USD 7 | |||
 | | 0 pips | USD 100 | USD 6 |
Select another broker to another broker to compare features, fees, and platforms side by side.
Alison and Chris cover a range of topics, including how to choose a Forex broker, safety and regulation, how to reduce your risk, trading psychology, trading platforms, and trading strategies, among others.
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