Virtual Brokers
XM
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Overview
Virtual Brokers was founded in 2008 and is headquartered in Canada, while XM was established in 2009 and is based in Cyprus. Virtual Brokers holds licences including The Investment Industry Regulatory Organization of Canada (IIROC), while XM is regulated by International Financial Services Commission(IFSC) among others. Virtual Brokers serves 10,000+ clients worldwide; XM has 3,500,000+. The minimum deposit is $1000 at Virtual Brokers and $5 at XM.
| Feature | Virtual Brokers | XM |
|---|---|---|
| Min. Deposit | $1000 | $5 |
| Regulation | The Investment Industry Regulatory Organization of Canada (IIROC), Canadian Investor Protection Fund (CIPF) | International Financial Services Commission(IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC) |
| Founded | 2008 | 2009 |
| Country | Canada | Cyprus |
| Clients | 10,000+ | 3,500,000+ |
Fees
Fees are a critical factor when choosing between Virtual Brokers and XM, directly affecting your bottom line as a trader. Virtual Brokers has a lower barrier to entry with a minimum deposit of $1000 (vs $5 at XM). Virtual Brokers charges withdrawal fees while XM does not, a notable advantage for frequent withdrawers. XM applies inactivity fees on dormant accounts; Virtual Brokers does not. Virtual Brokers charges deposit fees; XM does not. Overall, XM scores higher on fees in our assessment.
| Feature | Virtual Brokers | XM |
|---|---|---|
| Min. Deposit | $1000 | $5 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
Virtual Brokers 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 | Virtual Brokers | 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 Virtual Brokers 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. Virtual Brokers scores higher overall in education and research.
| Feature | Virtual Brokers | 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. Virtual Brokers 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 | Virtual Brokers | 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 Virtual Brokers and XM offer live chat support. Both provide phone support. Email support is available at both brokers. Virtual Brokers supports 2 languages and XM supports 20, giving XM broader global reach. Both brokers are comparable on support quality.
| Feature | Virtual Brokers | 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 |