Binary.com
XM
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
Binary.com was founded in 2014 and is headquartered in United States, while XM was established in 2009 and is based in Cyprus. Binary.com holds licences including Unregulated, while XM is regulated by International Financial Services Commission(IFSC) among others. Binary.com serves 10,000+ clients worldwide; XM has 3,500,000+. The minimum deposit is $250 at Binary.com and $5 at XM.
| Feature | Binary.com | XM |
|---|---|---|
| Min. Deposit | $250 | $5 |
| Regulation | Unregulated | International Financial Services Commission(IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC) |
| Founded | 2014 | 2009 |
| Country | United States | Cyprus |
| Clients | 10,000+ | 3,500,000+ |
Fees
Fees are a critical factor when choosing between Binary.com and XM, directly affecting your bottom line as a trader. Binary.com has a lower barrier to entry with a minimum deposit of $250 (vs $5 at XM). Binary.com 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. Binary.com charges deposit fees; XM does not. Overall, XM scores higher on fees in our assessment.
| Feature | Binary.com | XM |
|---|---|---|
| Min. Deposit | $250 | $5 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
Binary.com offers MT4, MT5, cTrader, while XM supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. The two brokers are closely matched on platform offering.
| Feature | Binary.com | 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,iOS,MacBook,iPhone | 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 Binary.com and XM compare. XM runs regular live webinars; Binary.com does not. Both provide video tutorials. XM publishes daily market commentary; Binary.com does not. Both integrate third-party research tools. XM maintains an archive of past webinars for on-demand viewing. XM scores higher overall in education and research.
| Feature | Binary.com | XM |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Binary.com 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 | Binary.com | 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 Binary.com and XM offer live chat support. Both provide phone support. Email support is available at both brokers. Binary.com supports 2 languages and XM supports 20, giving XM broader global reach. Both brokers are comparable on support quality.
| Feature | Binary.com | 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 |