GMG Markets vs XTrade Comparison
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Comparison Table of GMG Markets and XTrade
| Broker | GMG Markets | XTrade |
|---|---|---|
| Rating | 3.9/5 | 3.3/5 |
| Foundation Year | 2015 | 2003 |
| Regulated in Countries | United Kingdom | Belize |
| Minimum Deposit |
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| Spread | from 0 points | from 1 points |
| Max Leverage | 1:30 | 1:400 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | GMG Markets Review | XTrade Review |
GMG Markets suits active Forex traders and scalpers who value FCA regulation, MT5, and low spreads; however, it may feel restrictive for investors and stock enthusiasts.
Xtrade is suitable for traders who value a simple interface, bonus programs, and access to education and analytics.
GMG Markets Review
GMG Markets is a niche broker primarily designed for active FX traders, scalpers, and algorithmic traders who only need two well-optimized accounts. The MT5 platform provides a comprehensive toolkit for both manual and automated trading, Autochartist supplements basic technical analysis, and 24/5 support responds swiftly and effectively.
This broker is ideal for those who appreciate transparent fees, swift fund withdrawals, and FCA regulation but do not require an extensive product lineup or copy trading services. Novice traders can test the live markets and undergo basic training via webinars, whereas professionals can access leverage up to 1:100 under Pro status. Investors, diversification enthusiasts, or those needing a multitude of platforms and services might be better served by more versatile providers.
Pros and Cons of GMG Markets
Pros
- Robust regulation — FCA license, segregated accounts, FSCS protection.
- Transparent fee structure — Standard account with zero commission, Raw account with zero spreads and fixed fee.
- MT5 + Autochartist — comprehensive desktop, web, and mobile platforms, algorithm support, integrated chart pattern scanner.
- VPS hosting — complimentary with required monthly turnover.
- 24/5 tech support — chat, phone, and e-mail typically respond within minutes.
Cons
- Limited instrument selection — only Forex, a few indices, and commodities.
- Single platform offering — no MT4, cTrader, TradingView, or proprietary web terminal.
- Minimum deposit of $200 — higher than brokers offering cent/micro accounts.
- No e-wallets or cryptocurrencies available for transactions.
- Investor services are lacking — no copy trading, PAMM, contests, or comprehensive fundamental analysis.
XTrade Review
Xtrade offers a wide range of deposit and withdrawal methods, an extensive range of markets and trading products, and a variety of analytical tools. The broker is equipped with an extensive training center, which makes it attractive for novice traders who want to expand their knowledge and improve their trading skills. Responsive and feature-rich customer support enhances the usability of the broker's services.
Xtrade is suitable for novice traders, thanks to its accessible educational resources and wide range of trading products. However, potential clients should pay special attention to regulatory issues and trading costs before deciding to start working with this broker.
Pros and Cons of XTrade
Pros
- Wide range of deposit and withdrawal methods.
- Extensive selection of markets and products for trading.
- Diversity of analytical tools.
- Comprehensive educational center with various materials.
- Responsive and multifunctional technical support.
Cons
- Weak regulation may raise concerns about the security of client funds.
- Limited variety of accounts and services offered.
- Wide spreads, which can increase trading costs.
- Long processing time for withdrawal requests.
- Lack of alternatives to the offered trading platform, limiting traders' choices.
Reliability
| Broker | GMG Markets | XTrade |
|---|---|---|
| Reliability | 5/5 | 3.2/5 |
| Foundation Year | 2015 | 2003 |
| Regulated in Countries | United Kingdom | Belize |
| Regulators | FCA FCA | - BFSC BFSC |
GMG Markets
Since 2016 under FCA oversight, GMG Markets holds client funds in segregated accounts and qualifies for FSCS protection.
Pros
- FCA License — Tier-1 regulator
- Funds segregation + FSCS compensation up to £85,000
- STP/NDD model without dealer intervention
Cons
- Single jurisdiction (FCA), no additional licenses
XTrade
The reliability of Xtrade International Ltd is questionable due to the lack of licenses from strict regulators, despite having a license from the Belize FSC.
Pros
- Segregated client accounts.
- Investor compensation fund.
Cons
- Lack of licenses from strict regulators.
Account Opening
| Broker | GMG Markets | XTrade |
|---|---|---|
| Account Opening | 4.5/5 | 4/5 |
| Minimum Deposit |
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GMG Markets
GMG Markets onboarding is quick and efficient: registration takes 5–7 minutes, with verification under 1 business day. However, a $200 deposit and extensive KYC may deter beginners.
Pros
- Online registration in 5–7 minutes
- Document verification within 1 day
Cons
- Minimum deposit of $200
- Detailed KYC form
XTrade
Account opening at Xtrade is fairly standard and transparent.
Pros
- Free and fast account opening.
- Clear verification instructions.
Cons
- High minimum deposit.
- Verification can be lengthy.
Account Types
| Broker | GMG Markets | XTrade |
|---|---|---|
| Account Types | 3.8/5 | 2.3/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0 points | from 1 points |
| Max Leverage | 1:30 | 1:400 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
GMG Markets
Only two main accounts — Standard and Raw Spread — cater to basic requirements, but the absence of cent or fixed-spread accounts, copy trading, PAMM, and contest services limits variety.
Pros
- Commission-free Standard, and zero-spread Raw account
- Islamic account and spread-betting options for niche segments
- Complimentary VPS with required turnover
Cons
- No cent/fixed-spread account
- Lack of copy trading, PAMM, contests
XTrade
Xtrade offers a variety of accounts, but does not satisfy the needs of all categories of traders.
Pros
- Four types of accounts for different traders.
- Reduced spreads for Premium and VIP accounts.
Cons
- Absence of cent and Islamic accounts.
- No accounts with fixed spreads.
- Lack of copy trading service.
Commissions
| Broker | GMG Markets | XTrade |
|---|---|---|
| Commissions | 3.5/5 | 2/5 |
| Spread | from 0 points | from 1 points |
| Average Spread (EURUSD) | 1.2 | 3 |
| Commission per Lot | $3.5 |
GMG Markets
GMG Markets offers a transparent fee structure: one account includes all charges within the spread, while another charges a small fee with a minimal spread. Deposits and withdrawals are free, no inactivity fee is applied, though swaps are slightly above average.
Pros
- No inactivity fees
- Free deposits and withdrawals
Cons
- Swaps are above average
XTrade
Commissions at Xtrade are relatively high, which can increase a trader's costs.
Pros
- No withdrawal fee.
Cons
- High spreads.
- Inactivity fee of 50 USD.
Deposit and Withdrawal
| Broker | GMG Markets | XTrade |
|---|---|---|
| Rating | 4/5 | 3.5/5 |
| Account Funding Methods |
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GMG Markets
Card and bank transfers are swift and fee-free, but the absence of e-wallets and cryptocurrencies limits options.
Pros
- Commission-free transactions
- Instant card funding
Cons
- No e-wallets
- No cryptocurrencies
XTrade
Xtrade offers a variety of deposit and withdrawal methods, but with lengthy processing times.
Pros
- Wide selection of payment systems.
- No fees on many methods.
Cons
- Long withdrawal processing time.
- Absence of cryptocurrencies.
Markets and Products
| Broker | GMG Markets | XTrade |
|---|---|---|
| Markets and Products | 2.5/5 | 5/5 |
| Forex | 64 | 57 |
| Precious Metals | 13 | 9 |
| Energy Carriers | 3 | 5 |
| Indices | 17 | 25 |
| Soft Commodities | - | 7 |
| Stocks | - | 300 |
| ETF | - | 13 |
| Bonds | - | 5 |
| Cryptocurrency | - | 52 |
GMG Markets
The instrument range is limited: primarily currency pairs, indices, and commodities; with no stocks, cryptocurrencies, or a broad commodity selection, diversification falls short compared to competitors.
Pros
- 64 currency pairs
- Major indices and metals
Cons
- No CFDs on stocks
- No cryptocurrencies
- Limited commodity selection
XTrade
Xtrade offers an extensive selection of markets and products, meeting the needs of various traders.
Pros
- Wide range of currency pairs.
- Numerous CFDs on stocks from different countries.
- Availability of cryptocurrencies.
Trading Platforms
| Broker | GMG Markets | XTrade |
|---|---|---|
| Rating | 3.5/5 | 3.5/5 |
| Trading Platforms |
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GMG Markets
The sole available platform, MT5, offers rich functionality, but the lack of alternatives reduces flexibility.
Pros
- Fully featured MT5
- Desktop, web, and mobile applications
Cons
- No MT4, cTrader, TradingView
- Essentially a single platform option
XTrade
Xtrade offers a functional and user-friendly platform.
Pros
- Web platform with no download required.
- Full-featured mobile application.
Cons
- Lack of popular platforms such as MT4 or MT5.
- Limited choice of platforms.
- No desktop version of the platform.
Analytics
| Broker | GMG Markets | XTrade |
|---|---|---|
| Rating | 3/5 | 4/5 |
GMG Markets
Autochartist and a daily news feed provide basic analysis, but the lack of proprietary research and in-depth fundamental analysis diminishes overall utility.
Pros
- Complimentary Autochartist
- Market news
Cons
- No proprietary research
- Weak fundamental analysis
XTrade
Xtrade's analytics are well-developed, providing traders with a variety of market analysis tools.
Pros
- Daily video analysis.
- Economic calendar and up-to-date news.
- Specialized calculators for technical analysis.
Cons
- Lack of regular reviews from experts.
- No trading signals.
Education
| Broker | GMG Markets | XTrade |
|---|---|---|
| Rating | 4/5 | 4/5 |
GMG Markets
The foundational materials (webinars, articles, videos) are sufficient for beginners, but for in-depth learning and advanced coursework, external resources may be needed.
Pros
- Regular free webinars
- Novice-oriented article base
- Recordings available 24/7
Cons
- No advanced courses
- No podcasts or multilingual programs
XTrade
Xtrade provides extensive educational materials covering various levels of complexity.
Pros
- Wide range of topics.
- Materials for beginners and professionals.
- Availability of video tutorials and e-books.
Cons
- Lack of webinars.
- Some topics may require deeper study.
Customer Support
| Broker | GMG Markets | XTrade |
|---|---|---|
| Rating | 4.5/5 | 4/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Facebook
LinkedIn
Twitter
YouTubeGMG Markets
The broker provides 24/5 support via chat, phone, and e-mail, with responses typically within minutes.
Pros
- Online chat and phone support 24/5
- Rapid response
- Competent representatives
Cons
- No weekend support
- Delays during peak demand
XTrade
Xtrade's customer support is responsive and diverse, but there are minor communication issues.
Pros
- Variety of communication channels.
- 24/5 availability during weekdays.
- Quick and professional response.
Cons
- Some reviews indicate problems with resolving disputes.
