If you’re looking for a new forex broker, you may be wondering what makes XM forex different from FBS. The main differences are the costs and the type of accounts available. FBS charges a 20 USD commission per lot for the ECN account, while XM has a low six dollar commission fee per standard lot.
XM offers MetaTrader 4 and 5 trading platforms to traders. It also offers over 1500 tradable assets. The FBS platform is not as user-friendly, though it does support more advanced technical indicators. In addition to the MetaTrader 4 and 5 trading platforms, FBS also offers a proprietary mobile app. Both brokers accept all forms of identification under the account holder’s name.
XM and FBS both offer trading platforms that offer a wide variety of trading products. FBS is a Belize-based broker that has a presence in over 190 countries. It also boasts a huge network of partners and 16 million traders worldwide. XM, on the other hand, is a Cyprus-based broker regulated by CySec and the British Financial Conduct Authority. Founded in 2009, XM used to be known as XE Markets and had several thousand traders worldwide.
XM offers a free no deposit bonus and a deposit bonus program that is divided into two parts. Initially, clients receive a 50% bonus on their deposit. Each subsequent deposit is rewarded with a 20% bonus. It also offers a referral program whereby clients can earn an additional 35 USD per referral. There is no limit on the amount of referrals one can make, and the earnings can be withdrawn for a variety of uses.
While both FBS and XM are reliable brokers, they differ in the type of trading products they offer. XM allows retail traders to use leverage up to 30:1, while FBS restricts this leverage to 30:1. XM offers a larger range of trading tools, including educational materials and trading bonuses.
XM offers four different account types, which vary in size. There is a micro account that requires only a $5 deposit, a standard account that requires a $100 deposit, and a zero account that has no minimum balance. In contrast, FBS offers five different account types, and their minimum deposit amounts are between $0.5 and $7.
XM offers trading services in over 200 countries and has offices in Cyprus and Australia. It has more than five million clients. In addition to the two main currencies, XM offers CFDs on stock indices, commodities, metals, and energies. Additionally, it is regulated by the International Financial Services Commission.
XM provides its traders with access to MetaTraders trading platforms. The MetaTrader platform is used by most Forex brokers, and it allows for advanced functionality and advanced charting systems. The platform also has low fees and offers a no-limit demo account.