Ellevest
XM
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Overview
Ellevest was founded in 2008 and is headquartered in USA, while XM was established in 2009 and is based in Cyprus. Ellevest holds licences including Unregulated, while XM is regulated by International Financial Services Commission(IFSC) among others. Ellevest serves 10,000+ clients worldwide; XM has 3,500,000+. The minimum deposit is $1 at Ellevest and $5 at XM.
| Feature | Ellevest | XM |
|---|---|---|
| Min. Deposit | $1 | $5 |
| Regulation | Unregulated | International Financial Services Commission(IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC) |
| Founded | 2008 | 2009 |
| Country | USA | Cyprus |
| Clients | 10,000+ | 3,500,000+ |
Fees
Fees are a critical factor when choosing between Ellevest and XM, directly affecting your bottom line as a trader. Ellevest has a lower barrier to entry with a minimum deposit of $1 (vs $5 at XM). Ellevest 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. Ellevest charges deposit fees; XM does not. Overall, XM scores higher on fees in our assessment.
| Feature | Ellevest | XM |
|---|---|---|
| Min. Deposit | $1 | $5 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | Yes | No |
Platforms
Ellevest 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 Ellevest does not offer. The two brokers are closely matched on platform offering.
| Feature | Ellevest | XM |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | Windows, Android, Mac OS, 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 Ellevest and XM compare. XM runs regular live webinars; Ellevest does not. Both provide video tutorials. XM publishes daily market commentary; Ellevest 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 | Ellevest | 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. Ellevest 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 | Ellevest | 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 Ellevest and XM offer live chat support. Both provide phone support. Email support is available at both brokers. Ellevest supports 2 languages and XM supports 20, giving XM broader global reach. Both brokers are comparable on support quality.
| Feature | Ellevest | 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 |