Scores, winners and data below compare these brokers as CFD/FX brokers: leveraged trading on forex, indices, commodities and crypto. Scores, winners and data below compare these brokers as stock brokers: real shares and ETFs you own outright.
eToro
Regulated in your country eToro is allowed by ASIC to onboard clients residing in Australia.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
XM
Not regulated in your country XM does not accept residents in Australia because it is not regulated by ASIC.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Best for
What we compare A comparison of the kinds of traders eToro and XM are best suited to, based on what each one actually offers in Australia.eToro is better than XM for high-volume traders, while XM is better for scalpers. Long-term investors, swing traders and news traders can choose either eToro or XM.
| Overall score | eToro 81 Best 83 Best | XM 74 -7 73 -10 |
|---|---|---|
| Day trading i | ||
| Long-term investing i | ||
| Professional traders i | ||
| High-volume traders i | ||
| Scalpers i | ||
| Swing traders i | ||
| News traders i | ||
| Algo traders i | ||
| Stock traders i | ||
| Crypto traders i | ||
| Futures traders i | ||
| Options traders i |
Regulation
What we compare A comparison between the financial authorities that supervise eToro and the ones that supervise XM.Only eToro is regulated in Australia, by ASIC. XM holds no licence in Australia and is regulated by CySEC.
| Section score | eToro 100 Best 100 Best | XM 90 -10 90 -10 |
|---|---|---|
| Tier-1 regulators | ||
| ESMA (European Union) i | ||
| FCA (United Kingdom) i | ||
| ASIC (Australia) i | ||
| CFTC (United States) i | ||
| NFA (United States) i | ||
| SEC (United States) i | ||
| CIRO (Canada) i | ||
| MAS (Singapore) i | ||
| SFC (Hong Kong) i | ||
| JFSA (Japan) i | ||
| FINMA (Switzerland) i | ||
| Tier-2 regulators | ||
| FMA (New Zealand) i | ||
| CBR (Russia) i | ||
| FSCA (South Africa) i | ||
| DFSA (Dubai) i | ||
| CSRC (China) i | ||
| ISA (Israel) i | ||
| LFSA (Malaysia) i | ||
| JSC (Jordan) i | ||
| CMA (Kenya) i | ||
| Tier-3 regulators | ||
| FSA (Seychelles) i | ||
| MMA (Maldives) i | ||
| SCB (Bahamas) i | ||
| FSC (Mauritius) i | ||
| VFSC (Vanuatu) i | ||
| FSC (Belize) i | ||
| CIMA (Cayman Islands) i | ||
| SV FSA (Saint Vincent and the Grenadines) i | ||
| FSRC (St. Kitts & Nevis) i | ||
| BMA (Bermuda) i | ||
| BVI FSC (British Virgin Islands) i | ||
| EDR (External Dispute Resolution) i | ||
Safety
What we compare A comparison of the tools and services that eToro and XM have in place to protect your money in Australia.eToro and XM both offer segregated client funds and two-factor authentication. eToro also offers additional money insurance.
| Section score | eToro 81 Best 81 Best | XM 65 -16 65 -16 |
|---|---|---|
| Company info | ||
| Is it publicly traded i | ||
| Is it a bank i | ||
| Year founded i | 2007 | 2009 |
| Parent company i | eToro Group Ltd | Trading Point Holdings |
| CEO i | Yoni Assia | Tasos Anastasiou |
| Money safety | ||
| Segregated client funds i | ||
| Two-factor authentication i | ||
| Investor compensation scheme i | ||
| Additional money insurance i | ||
| Partner bank i | Australian Settlements Limited | N/A |
| Brand power | ||
| Number of customers worldwide i | 4,280,000 | 20,000,000 |
| Annual revenue i | US$1,340,000,000 | US$1,000,000,000 |
| Monthly website search traffic i | 13.2M monthly visits | |
Costs
What we compare A comparison of what it costs to trade with eToro and with XM in Australia, both on each trade and on holding the account.eToro is better than XM for CFD/FX costs, since eToro is cheaper on EUR/USD, at US$11.2 per lot (against XM's US$20), does not charge inactivity fees, unlike XM, and offers volume discounts, which XM does not. Neither eToro nor XM charges account maintenance fees or deposit fees.
eToro is better than XM for real stock costs, given that eToro does not charge inactivity fees, unlike XM. Neither eToro nor XM charges account maintenance fees or deposit fees.
| Section score | eToro 55 Best 76 Best | XM 26 -29 72 -4 |
|---|---|---|
| Broker fees | ||
| Deposit fees i | ||
| Withdrawal fees i | ||
| Overnight fees i | ||
| Inactivity fees i | ||
| Currency conversion fees i | ||
| Discounts on volume i | ||
| Real time market data fee i | ||
| Dividend withholding i | ||
| Account opening fees i | ||
| Account maintenance fee i | ||
| Portfolio management fee i | ||
| Fees on CFDs | ||
| Forex commission per lot i | ||
| EUR/USD average standard spread i | ||
| EUR/USD average raw spread i | ||
| EUR/USD average fixed spread i | ||
| EUR/USD total cost per lot i | US$11.2 | US$20 |
| S&P 500 fees (CFD) i | 1.08 points | 0.6 points |
| Gold fees (CFD) i | 0.88 points | 0.55 points |
| Bitcoin fees (CFD) i | US$1,585.8 | US$40 |
| US stocks fees (CFD) i | Free | |
| Fees on stocks | ||
| Stock fee type i | Commission | Commission, Percentage, Spread |
| US stocks fees (real) i | US$4 | US$2.8 |
| ETF fees (real) i | Free | |
| Management costs i | ||
| Connection costs i | ||
| Fees on futures | ||
| Futures fees per contract i | ||
| Platform fees i | ||
| Fees on options | ||
| Options fees per contract i | ||
| Event fees i | ||
| Fees on savings plans | ||
| IRA opening fee i | ||
| IRA maintenance fee i | ||
| 401k opening fee i | ||
| 401k maintenance fee i | ||
Available markets
What we compare A comparison of the markets and products you can trade with eToro and with XM in Australia, and of how many instruments each one gives access to.eToro is better than XM for CFD/FX markets, given that eToro gives access to 7,000 tradable symbols (against XM's 1,400), and lets you own crypto and ETFs outright, which XM does not. Both eToro and XM offer CFDs on commodities, crypto, ETFs, forex, indices and stocks, and let you own stocks outright.
eToro is better than XM for real stock markets, given that eToro lets you own crypto and ETFs outright, which XM does not, and gives access to 7,000 tradable symbols (against XM's 1,400). Both eToro and XM let you own stocks outright, and offer CFDs on commodities, crypto, ETFs, forex, indices and stocks.
| Section score | eToro 85 Best 55 Best | XM 75 -10 15 -40 |
|---|---|---|
| Total tradable symbols i | 7,000 | 1,400 |
| Currency pairs i | ||
| Indices i | ||
| Commodities i | ||
| Stocks i | ||
| ETF i | ||
| Cryptocurrencies i | ||
| Bonds i | ||
| Interest rates i | ||
| Portfolios i | ||
| CFDs i | Commodities, Crypto, ETF, Forex, Indices, Stocks | Commodities, Crypto, ETF, Forex, Indices, Stocks |
| Futures i | ||
| Options i | ||
| Assets you can own i | Crypto, ETF, Stocks | Stocks |
Platform
What we compare A comparison of the trading platforms that eToro and XM make available to their clients in Australia.eToro is better than XM for platforms, as eToro offers a proprietary platform and social trading, which XM does not. eToro and XM both offer copy trading and one-click trading.
| Section score | eToro 84 Best 84 Best | XM 63 -21 63 -21 |
|---|---|---|
| Proprietary platform i | ||
| MetaTrader 4 i | ||
| MetaTrader 5 i | ||
| cTrader i | ||
| Social trading platform i | ||
| Copy trading platform i | ||
| ZuluTrade i | ||
| TradingView i | ||
| Duplitrade i | ||
| Mirror Trader i | ||
| NinjaTrader i | ||
| AutoChartist i | ||
| Real time pricing i | ||
| 5 digit pricing i | ||
| One-click trading i |
Mobile
What we compare A comparison of the mobile apps of eToro and XM in Australia, and of what each one lets you do from your phone.eToro and XM are equally good for mobile trading, as eToro offers a social trading app and a copy trading app. On the other hand, XM offers the MetaTrader 5 app and the MetaTrader 4 app. eToro and XM both offer a proprietary mobile app and mobile price alerts.
| Section score | eToro 87 87 | XM 86 -1 86 -1 |
|---|---|---|
| Proprietary app i | ||
| Social trading app i | ||
| Copy trading app i | ||
| MetaTrader 4 app i | ||
| MetaTrader 5 app i | ||
| cTrader app i | ||
| Mobile trading signals i | ||
| Mobile alerts i | ||
| Mobile charting tools i | ||
| Mobile drawing tools i | ||
| Mobile watchlist i | ||
| Smartwatch app i |
Trading features
What we compare A comparison of the trading tools and strategies that eToro and XM allow on their platforms in Australia.XM is better than eToro for CFD/FX trading features, since XM offers tier-1 liquidity providers and VPS hosting, which eToro does not, and allows for scalping. eToro and XM both offer negative balance protection and trailing stops. The leverage shown for XM is set by its Belize entity and exceeds the retail limit in Australia (30:1 on major currency pairs).
eToro is better than XM for real stock trading features, as eToro offers fractional shares, which XM does not. eToro and XM both offer trailing stops and API access.
| Section score | eToro 68 -19 85 Best | XM 87 Best 77 -8 |
|---|---|---|
| Trade execution | ||
| Broker type i | Agency | Agency |
| Average execution time i | 66 ms | |
| Slippage occurrence i | ||
| Requotes occurrence i | 0% | |
| Tier-1 liquidity providers i | ||
| PFOF i | ||
| Leverage | ||
| Major FX pairs leverage i | 30:1 | 1000:1 |
| Minor/Exotic FX pairs leverage i | 20:1 | 1000:1 |
| Major indices leverage i | 20:1 | 500:1 |
| Minor indices leverage i | 10:1 | 250:1 |
| Gold leverage i | 20:1 | 1000:1 |
| Commodities leverage i | 10:1 | 400:1 |
| Equities leverage i | 5:1 | 20:1 |
| Cryptocurrency leverage i | 2:1 | 1000:1 |
| Risk management | ||
| Stop losses i | ||
| Take profits i | ||
| Limit orders i | ||
| Trailing stop i | ||
| Margin call i | ||
| OCO orders i | ||
| Guaranteed stop loss i | ||
| Negative balance protection i | ||
| Minimum trade size (FX) i | 0.01 lots | 0.01 lots |
| Minimum trade size (stocks) i | US$10 | US$0 |
| Fractional stocks i | ||
| Trading compliance | ||
| Scalping strategies allowed i | ||
| Hedging strategies allowed i | ||
| Automated trading strategy allowed i | ||
| EAs use allowed i | ||
| HFT strategy allowed i | ||
| VPS use allowed i | ||
| API use allowed i | ||
| Price scraping allowed i | ||
| FIFO rule applies i | ||
Account types
What we compare A comparison of the kinds of account you can open at eToro and at XM in Australia, and of who each one is meant for.XM is better than eToro for CFD/FX account types, as XM offers a managed account, an Islamic account and a micro account, which eToro does not. eToro and XM both offer a demo account and a corporate account.
eToro is better than XM for real stock account types, as eToro offers a copy trading account, an unlimited demo account and a retirement account, which XM does not. Both eToro and XM offer a stock investing account and a demo account.
| Section score | eToro 45 -15 76 Best | XM 60 Best 68 -8 |
|---|---|---|
| Demo account i | ||
| Unlimited demo account i | ||
| Standard account i | ||
| Micro account i | ||
| Cent account i | ||
| Nano account i | ||
| Raw spread account i | ||
| ECN account i | ||
| Swap-free account i | ||
| Islamic account i | ||
| Professional traders account i | ||
| Fixed spread account i | ||
| Spread betting account i | ||
| Copy trading account i | ||
| Corporate account i | ||
| Managed account i | ||
| Stock investing account i | ||
| Margin investing account i | ||
| Savings account i | ||
| Retirement account i |
Account opening
What we compare A comparison of what it takes to open and fund an account with eToro and with XM in Australia.XM is better than eToro for account opening, because XM requires a lower minimum deposit, at US$5 (against eToro's US$50), offers 10 account base currencies (against eToro's 2), and has a lower minimum withdrawal, at US$5 (against eToro's US$30). Both eToro and XM offer credit cards and debit cards. XM holds no licence in Australia.
| Section score | eToro 69 -26 69 -26 | XM 95 Best 95 Best |
|---|---|---|
| Minimum deposit i | US$50 | US$5 |
| Minimum withdrawal i | US$30 | US$5 |
| Wire transfers i | ||
| Credit cards i | ||
| Debit cards i | ||
| eWallets i | PayPal, Neteller, Skrill | Neteller, Skrill |
| Local payment methods i | ||
| Account base currencies i | USD, AUD | AUD, CHF, EUR, GBP, HUF, PLN, RUB, SGD, USD, ZAR |
| Deposit waiting time i | Instant | Instant |
| Withdrawal waiting time i | up to 7 business days | up to 1 business days |
| Bonus program i |
Customer care
What we compare A comparison of the customer support of eToro and XM in Australia, in how it can be reached and how fast it answers.eToro and XM are equally good for customer care, as eToro offers priority support and call-back requests. On the other hand, XM offers customer support in 20 languages (against eToro's 1), and has a website in 19 languages (against eToro's 7). eToro and XM both offer a dedicated account manager and phone support.
| Section score | eToro 78 78 | XM 78 78 |
|---|---|---|
| Number of languages supported i | 7 | 20 |
| Website languages i | Arabic, German, English, French, Italian, Spanish, Chinese | Arabic, Czech, German, Greek, English, French, Hungarian, Indonesian, Italian, Korean, Malay, Polish, Portuguese, Russian, Spanish, Tagalog, Thai, Vietnamese, Chinese |
| Website available in English i | ||
| Customer support languages i | English | Arabic, Czech, German, Greek, English, French, Hindi, Hungarian, Indonesian, Italian, Korean, Malay, Polish, Portuguese, Russian, Spanish, Tagalog, Thai, Vietnamese, Chinese |
| Customer support in English i | ||
| Call back request i | ||
| Email support i | ||
| Phone support i | ||
| Live chat i | ||
| Priority customer support i | ||
| Dedicated account manager i | ||
| Cash sweep i | ||
| Stock lending i | ||
| Distributes proceeds i | ||
| Tax withholding agent i | ||
| Tax assistance i |
Learning
What we compare A comparison of the educational material that eToro and XM provide to their clients in Australia.eToro is better than XM for learning, as eToro offers professional reports, which XM does not. Both eToro and XM offer education for advanced traders and webinars.
| Section score | eToro 96 Best 96 Best | XM 88 -8 88 -8 |
|---|---|---|
| Education | ||
| Education center i | ||
| Education for beginners i | ||
| Education for advanced traders i | ||
| Webinars i | ||
| Tutorials i | ||
| Glossary i | ||
| Research | ||
| Economic calendar i | ||
| Traders' sentiment i | ||
| Daily market commentary i | ||
| Daily trading ideas i | ||
| News via social media i | ||
| Professional reports i | ||
| Watchlist i | ||
eToro vs XM: which one should you choose?
eToro
CFD/FX Choose eToro if you want a CFD broker regulated in Australia by ASIC, with a wide choice of markets and a proprietary trading platform.
Stocks Choose eToro if you want a broker for securities investing regulated in Australia by ASIC, with ETFs and crypto to own.
Open Account CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
XM
CFD/FX Choose XM if you want a forex brokerage service for scalping and high-frequency trading, with a small minimum deposit and fast withdrawals and live in a country where it is licensed to operate.
Stocks Choose XM if you want a share dealing service with a small minimum deposit and MetaTrader 5 and live in a country where it is licensed to operate.
Not licensed in Australia CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.Other popular comparisons
Below are other head-to-head comparisons that include eToro or XM, each scored with the same data and method as this page.
