BCS Forex
XM
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Overview
BCS Forex was founded in 2016 and is headquartered in Cyprus, while XM was established in 2009 and is based in Cyprus. BCS Forex holds licences including Cyprus Securities and Exchange Commission (CySEC), while XM is regulated by International Financial Services Commission(IFSC) among others. BCS Forex serves 10,000+ clients worldwide; XM has 3,500,000+. The minimum deposit is $100 at BCS Forex and $5 at XM.
| Feature | BCS Forex | XM |
|---|---|---|
| Min. Deposit | $100 | $5 |
| Regulation | Cyprus Securities and Exchange Commission (CySEC) | International Financial Services Commission(IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC) |
| Founded | 2016 | 2009 |
| Country | Cyprus | Cyprus |
| Clients | 10,000+ | 3,500,000+ |
Fees
Fees are a critical factor when choosing between BCS Forex and XM, directly affecting your bottom line as a trader. BCS Forex has a lower barrier to entry with a minimum deposit of $100 (vs $5 at XM). BCS Forex charges withdrawal fees while XM does not, a notable advantage for frequent withdrawers. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. Overall, XM scores higher on fees in our assessment.
| Feature | BCS Forex | XM |
|---|---|---|
| Min. Deposit | $100 | $5 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
BCS Forex offers MT4, MT5, cTrader, while XM supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. XM supports social and copy trading features, which BCS Forex does not offer. The two brokers are closely matched on platform offering.
| Feature | BCS Forex | XM |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4,Desktop,iPhone/iOS | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how BCS Forex and XM compare. Both brokers run regular live webinars. Both provide video tutorials, including advanced content. Daily market commentary is available from both brokers. Both integrate third-party research tools including Trading Central. Archived webinars are available at both brokers for self-paced learning. BCS Forex scores higher overall in education and research.
| Feature | BCS Forex | XM |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | Yes |
| Weekly Webinars | Yes | Yes |
| Daily Commentary | Yes | Yes |
| Trading Central | Yes | Yes |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. BCS Forex accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while XM supports 3 (bank transfer, credit/debit card, Neteller). XM uniquely supports Neteller among the two brokers. XM scores higher on deposit and withdrawal flexibility.
| Feature | BCS Forex | XM |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | No |
| Skrill | No | No |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both BCS Forex and XM offer live chat support. Both provide phone support. Email support is available at both brokers. BCS Forex supports 2 languages and XM supports 20, giving XM broader global reach. Both brokers are comparable on support quality.
| Feature | BCS Forex | XM |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish |