Velocity Trade
XM
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Overview
Velocity Trade was founded in 2007 and is headquartered in Australia, while XM was established in 2009 and is based in Cyprus. Velocity Trade holds licences including Australian Securities & Investment Commission (ASIC), while XM is regulated by International Financial Services Commission(IFSC) among others. Velocity Trade serves 10,000+ clients worldwide; XM has 3,500,000+. The minimum deposit is $1 at Velocity Trade and $5 at XM.
| Feature | Velocity Trade | XM |
|---|---|---|
| Min. Deposit | $1 | $5 |
| Regulation | Australian Securities & Investment Commission (ASIC), BaFIN (German Federal Financial Services Authority ID: 10159853), Financial Markets Authority (FMA) of New Zealand, Financial Sector Conduct Authority of South Africa (FSCA) FSP No. 43295, Financial Conduct Authority (FCA Registered Number 497263) | International Financial Services Commission(IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC) |
| Founded | 2007 | 2009 |
| Country | Australia | Cyprus |
| Clients | 10,000+ | 3,500,000+ |
Fees
Fees are a critical factor when choosing between Velocity Trade and XM, directly affecting your bottom line as a trader. Velocity Trade has a lower barrier to entry with a minimum deposit of $1 (vs $5 at XM). Neither broker charges withdrawal fees. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. The two brokers are broadly comparable on fee structure.
| Feature | Velocity Trade | XM |
|---|---|---|
| Min. Deposit | $1 | $5 |
| Withdrawal Fees | No | No |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
Velocity Trade offers MT4, while XM supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. XM supports social and copy trading features, which Velocity Trade does not offer. XM edges ahead on platform breadth and functionality in our scoring.
| Feature | Velocity Trade | XM |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | No | Yes |
| cTrader | No | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | MT4, Mobile Apps | 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 Velocity Trade 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. Velocity Trade scores higher overall in education and research.
| Feature | Velocity Trade | 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. Velocity Trade 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 | Velocity Trade | 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 Velocity Trade and XM offer live chat support. Both provide phone support. Email support is available at both brokers. Velocity Trade supports 2 languages and XM supports 20, giving XM broader global reach. Both brokers are comparable on support quality.
| Feature | Velocity Trade | 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 |