Broker to Trading

NSFX offers a fixed spread instant execution account on MT4. XM provides both a Micro and a Standard account, which have variable spreads. NSFX also offers two ECN accounts, with low spreads and a commission charge. These require a higher minimum deposit, and offer either MT4, or for an even higher minimum deposit, JForex.

XM provides an account with low spreads and a commission charge (the XM Zero account, available at CySEC regulated XM). However XM offers both MT4 and MT5. XM also requires a higher minimum deposit for its XM Zero account, but this is lower than NSFX's minimum deposit requirements.

XM provides a cent account which allows for very small trade sizes and has a very low minimum deposit.

So both brokers provide MT4 for a range of account types but also offer JForex for ECN in the case of NSFX and MT5 in the case of XM. Like JForex, MT5 has features which can be useful in ECN trading, like Level II pricing.

XM is regulated by the ASIC in Australia, the CySEC in Cyprus and the IFSC in Belize. NSFX is regulated by the MFSA in Malta.

Quick comparison

NSFX is an ECN broker, offering MT4 and JForex. XM has a range of account types on MT4 and MT5, including a cent account. NSFX has a Classic account with fixed Forex spreads.

Minimum deposit and account types

The minimum deposit for NSFX is $300. The minimum deposit for XM is $5.

NSFX offers three account types. These are the MT4 Fixed, MT4 ECN and JForex accounts. The minimum deposit for the MT4 Fixed account is $300, the minimum deposit for the MT4 ECN account is $3,000 and the minimum deposit for the JForex account is $5,000.
The NSFX MT4 Fixed account does not charge commissions, the MT4 ECN and JForex accounts do. On its website NSFX provides Trading Central along with analysis, news and an economic calendar and the NSFX academy which includes an FX Video Course, Trading Examples and Guides and a Forex eBook. An Islamic account is available. Hedging at NSFX is allowed on all three account types but only on the MT4 ECN and JForex accounts are EAs enabled and scalping allowed.
XM CySEC regulated offers three account types, the Micro, Standard and XM Zero accounts, all with minimum deposits of $5. An Islamic account is available for each account type. The Micro and Standard accounts do not charge commissions, the XM Zero account does charge commissions. The Micro and Standard accounts differ in terms of order sizes available. The minimum trade size is 0.0001 lots.
XM ASIC regulated offers the XM Ultra Low account instead of the XM Zero account. XM IFSC regulated offers the Micro, Standard and Ultra Low accounts and a Shares account (with real Shares to own). The minimum deposit for the Ultra Low account is $50. The minimum deposit for the Shares account is $10,000.
XM offers an economic calendar, a personal account manager, video tutorials, daily technical analysis, Forex market research and daily Forex signals, trading tools, market outlook and webinars. XM allows EAs, hedging and scalping.
XM offers a free VPS for clients who have a minimum balance of $5000 in their account, terms and conditions apply. For clients who do not meet the conditions for a free VPS, it is available for a monthly fee of $28. XM also offers a personal account manager, video tutorials, daily technical analysis, Forex market research and daily Forex signals, market outlook and webinars.

Markets

• NSFX offers 60+, covering Forex pairs, Indices, Energy and Metals on the MT4 ECN and JForex accounts. On the MT4 Fixed account it offers Forex Major pairs.
• XM offers 1000+, covering Forex pairs, Indices, Energy, Metals, Stocks and Cryptocurrencies. The XM Xero account has Forex pairs and Precious Metals, with 55+.
• XM provides 60+ Forex pairs, NSFX provides 50+ Forex pairs.

Spreads and leverage

• Both can offers low spreads plus a commission charge. NSFX can additionally provide Forex spreads from 3 fixed, without a commission charge, while XM can additionally offer Forex spreads from 0.6 variable, without a commisison charge.

Maximum leverage for NSFX is . Maximum leverage for XM (CySEC regulated) is .

Commissions

• NSFX's MT4 ECN and JForex accounts charge commissions of $8 per lot round trip (equivalent to $4 per lot per side).
• XM charges a commission of $3.5 per lot per side on the XM Zero account.

Online trading platforms

Both brokers provide MT4. NSFX also offer JForex, XM also provides MT5. These platforms are available on desktop, tablet and mobile. Micro lot trading is allowed on all account types at NSFX and XM, though XM offers smaller trade sizes on its cent account.

Why NSFX or XM ?

Traders wishing to use MT4 may find this platform at either broker. Traders who want to trade on the successor to MT4, MT5, can find this platform at XM. Traders who want to trade on a user friendly platform with automated trading, can find JForex at NSFX. NSFX has a higher minimum deposit than XM, considerably higher on its ECN accounts. XM offers a very low minimum deposit and low minimum trade sizes on its Micro (cent) accounts.

Comparison summary

• Both brokers offer MT4
• XM additionally provides MT5
• NSFX additionally offers JForex
• NSFX provides a fixed spread account on MT4
• NSFX additionally offers ECN trading on MT4 and MT5
• XM has a cent account which offers very low minimum trade sizes
• XM has a lower minimum deposit ($5 vs $300)