XM vs eToro
Choosing between XM and eToro for your next trading account? This broker comparison between XM and eToro weighs regulation and trust, pricing and spreads, platforms and tools, tradable markets, research and education, as well as funding and withdrawals, to help you decide.
Who is XM?
XM is a well-established global online broker serving traders worldwide since its founding in 2009. The broker is widely recognized for its extensive educational center, flexible account types, and robust regulatory framework. XM serves traders from over 190 countries, with a strong focus on global support. The official website of XM is www.xm.com.
The minimum deposit required to start trading with XM is $5.
Who is eToro?
eToro, established in 2007, is a globally recognized multi-asset platform that pioneered social trading with its CopyTrader feature. eToro offers robust regulatory backing and an intuitive platform with access to extensive trading instruments. Its primary focus is the European market. The official website of eToro is www.etoro.com.
The minimum deposit required to start trading with eToro is $50.
XM vs eToro Side-by-Side Comparison
XM, founded in 2009, is a broker licensed by the CySEC (Cyprus), FSC (Belize), FSA (Seychelles), DFSA (UAE) and FSC (Mauritius). The firm maintains local offices in Limassol, Athens, Dubai and Cape Town and offers trading through several trading platforms, including MT4, MT5 and XM App.
Opening an account with XM requires a minimum deposit of $5, with base currencies available in USD, EUR, JPY, GBP, AUD, CHF, ZAR, HUF, SGD and PLN. XM operates as a B-Book (market maker) broker and supports copy trading via XM Copy Trading (available outside the EEA). The supported funding options include credit and debit cards, international wire transfers, local transfers and e-wallets (Skrill, Neteller, etc.).
In comparison, eToro, established in 2007, is licensed by the FCA (UK), CySEC (Cyprus), ASIC (Australia), FSRA (ADGM, UAE), MFSA (Malta) and FSA (Seychelles) and operates local offices in London, Limassol, Hoboken, Sydney and Abu Dhabi. To trade with this broker, traders can only use the eToro proprietary platform.
The minimum deposit to open an eToro account is $50 (can vary based on trader's location), and supported account base currencies are USD, EUR and GBP. The broker operates using a hybrid model (A+B Book) and facilitates copy trading via CopyTrader™. Deposits and withdrawals can be made via credit and debit cards, bank wire transfers, e-wallets (Skrill, Neteller, PayPal).
XM vs eToro Market Instruments
XM offers access to 1,400+ market instruments, including CFDs on forex, stocks, equity indices, themathic indices, commodities and cryptocurrencies. XM’s product market range consists of 40+ forex pairs, 1,000+ stocks, 20+ indices, 30+ commodities, and 10+ crypto pairs (available outside the EEA).
eToro, by comparison, provides 7,000+ instruments, covering CFDs on forex, stocks, indices, commodities, etfs, cryptocurrencies + real stocks, etfs and crypto. By the numbers, eToro's market products include 62 forex pairs, 6493 stocks, 32 indices, 47 commodities, and 145 crypto pairs.
XM vs eToro Account Types
XM vs eToro Spreads Comparison
This comparison reviews minimum and, where available, average spreads on standard accounts for XM and eToro. Actual spreads can change with market conditions and account type, so it is best to verify current figures on each broker’s website before trading.
Minimum spreads: For EUR/USD, XM offers spreads from 1.6 pips while eToro features a minimum of 1.0 pips. For GBP/USD, XM quotes 1.8 pips versus eToro at 2.0 pips. On USD/CAD, XM spreads start from 2.3 pips compared with eToro at 1.5 pips, and on CAD/JPY, XM posts 3.4 pips against eToro at 6.0 pips.
For XAU/USD (Gold), XM quotes spreads from $0.3 while eToro quotes from 0.025%. WTI Crude Oil's minimum is $0.03 at XM versus $0.05 at eToro. For Bitcoin, XM lists $60 compared with eToro at 1%.
Average spreads: XM reports EUR/USD averages at 2.0 pips and GBP/USD at 2.4 pips, with XAU/USD (Gold) around $0.45. eToro does not provide data about the average spreads.
XM vs eToro Minimum Spreads Comparison
XM vs eToro Average Spreads Comparison
Costs on Raw/Zero Spread Account
For raw/zero spread pricing, XM features on its zero spread account a minimum spread of 0.0 pips and charges a commission of $3.5 per side per lot (available exclusively in the EEA). In contrast, eToro does not offer raw/zero spread accounts.
These figures demonstrate how broker pricing on raw/zero spread accounts works in practice. Spreads may be more competitive, but remember that brokers earn primarily through per-side commissions. Actual spreads vary with market conditions. Always verify current fees on your broker's official website.
Other Features
XM vs eToro: Wrapping Up the Comparison
XM and eToro are well-established brokers, founded in 2009 and 2007, respectively. XM is regulated by the CySEC (Cyprus), FSC (Belize), FSA (Seychelles), DFSA (UAE) and FSC (Mauritius), while eToro is overseen by the FCA (UK), CySEC (Cyprus), ASIC (Australia), FSRA (ADGM, UAE), MFSA (Malta) and FSA (Seychelles). Platform-wise, XM supports MT4, MT5 and XM App, whereas eToro focuses on eToro proprietary platform.
XM's low barrier to entry, just $5 to start, gives traders access to a selection of over 1,400+ instruments. On the other hand, eToro offers access to 7,000+ instruments and accepts a minimum deposit of $50. On EUR/USD, minimum spreads begin at 1.6 pips for XM and 1.0 pips for eToro. XM’s average on EUR/USD is around 2.0 pips, while eToro does not publish an average for this pair. Both enable social trading, with XM offering copy trading via XM Copy Trading and eToro via CopyTrader.
Regarding accounts, both brokers provide a Standard account, support an Islamic (swap-free) setup, and offer a demo account. XM also offers a raw/zero spread account and additional formats such as Ultra Low and Shares. eToro does not advertise other account types.
In short, XM suits traders seeking MetaTrader access, 24/7 international support, and daily webinars, while eToro appeals to those prioritizing a broader instrument selection and a more advanced copy trading platform with extensive trader networks and a stronger European regulatory focus.
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