WellsTrade
XM
BrokerDataNet earns affiliate commission from brokers listed on this site. This does not affect our ratings or editorial independence.
Overview
WellsTrade was founded in 2008 and is headquartered in United States, while XM was established in 2009 and is based in Cyprus. WellsTrade holds licences including Unregulated, while XM is regulated by International Financial Services Commission(IFSC) among others. WellsTrade serves 10,000+ clients worldwide; XM has 3,500,000+. The minimum deposit is $30 at WellsTrade and $5 at XM.
| Feature | WellsTrade | XM |
|---|---|---|
| Min. Deposit | $30 | $5 |
| Regulation | Unregulated | International Financial Services Commission(IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC) |
| Founded | 2008 | 2009 |
| Country | United States | Cyprus |
| Clients | 10,000+ | 3,500,000+ |
Fees
Fees are a critical factor when choosing between WellsTrade and XM, directly affecting your bottom line as a trader. WellsTrade has a lower barrier to entry with a minimum deposit of $30 (vs $5 at XM). Neither broker charges withdrawal fees. XM applies inactivity fees on dormant accounts; WellsTrade does not. The two brokers are broadly comparable on fee structure.
| Feature | WellsTrade | XM |
|---|---|---|
| Min. Deposit | $30 | $5 |
| Withdrawal Fees | No | No |
| Inactivity Fees | No | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
WellsTrade 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 WellsTrade does not offer. The two brokers are closely matched on platform offering.
| Feature | WellsTrade | XM |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | iPhone,Tablet,Mac,Android,WEB | 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 WellsTrade and XM compare. XM runs regular live webinars; WellsTrade does not. XM has a video library; WellsTrade does not. XM publishes daily market commentary; WellsTrade does not. XM integrates third-party research tools (Trading Central); WellsTrade does not. XM maintains an archive of past webinars for on-demand viewing. XM scores higher overall in education and research.
| Feature | WellsTrade | XM |
|---|---|---|
| Forex Education | No | No |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. WellsTrade 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 | WellsTrade | 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 WellsTrade and XM offer live chat support. Both provide phone support. Email support is available at both brokers. WellsTrade supports 2 languages and XM supports 20, giving XM broader global reach. Both brokers are comparable on support quality.
| Feature | WellsTrade | 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 |