TeleTrade vs XM 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 TeleTrade and XM
| Broker | TeleTrade | XM |
|---|---|---|
| Rating | 3.6/5 | 4.2/5 |
| Foundation Year | 2000 | 2009 |
| Regulated in Countries | Saint Vincent and the Grenadines | Belize, Cyprus, Australia, United Arab Emirates |
| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:500 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | TeleTrade Review | XM Review |
This broker is ideally suited for experienced traders who value narrow spreads and a variety of financial instruments. Beginners may find it difficult due to the lack of extensive educational materials.
Broker XM is suitable for both novice traders, thanks to educational materials, and experienced traders who value a variety of instruments.
TeleTrade Review
TeleTrade represents a comprehensive solution for traders looking for tight spreads, a variety of financial instruments, and quality customer support. It benefits experienced traders who can fully utilize the extensive analytical tools. However, beginners may find it challenging to get started without a wide range of educational materials.
If you are ready to undertake an intensive self-learning journey or possess ample experience, this broker can offer you all the necessary conditions for successful trading.
Pros and Cons of TeleTrade
Pros
- Tight spreads.
- A wide range of deposit and withdrawal methods.
- Diversity of financial assets.
- An extensive set of analytical tools.
- Quality customer support.
Cons
- High commission on ECN and NDD accounts.
- High swaps.
- Long withdrawal request processing time.
- Lack of educational materials other than articles.
XM Review
XM broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, XM is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing.
Pros and Cons of XM
Pros
- Wide range of trading assets.
- Extensive educational resources.
- Tight spreads on the Ultra Low account.
- Many analytical materials.
- Commission-free deposits and withdrawals.
Cons
- Inconsistency in technical support.
- Inactivity fee.
- Standard account has a higher spread than the market average.
XM is in the top 10 of the following ratings:
Reliability
| Broker | TeleTrade | XM |
|---|---|---|
| Reliability | 3/5 | 5/5 |
| Foundation Year | 2000 | 2009 |
| Regulated in Countries | Saint Vincent and the Grenadines | Belize, Cyprus, Australia, United Arab Emirates |
| Regulators | SVGFSA SVGFSA | BFSC BFSC CySEC CySEC ASIC ASIC DFSA DFSA |
TeleTrade
TeleTrade is a relatively reliable broker, especially considering its long-standing market experience.
Pros
- Long-term market history.
- A large client base worldwide.
Cons
- No regulation by stricter authorities (FCA, ASIC, BaFin).
XM
XM Group is highly regarded for its reliability, holding ASIC, CySEC, FSC, and DFSA licenses.
Account Opening
| Broker | TeleTrade | XM |
|---|---|---|
| Account Opening | 5/5 | 5/5 |
| Minimum Deposit |
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TeleTrade
The registration process with TeleTrade broker is extremely convenient and fast. Minimal field input and the ability to log in from the main page simplify the start in trading.
XM
Opening an account with XM Group is straightforward and quick.
Account Types
| Broker | TeleTrade | XM |
|---|---|---|
| Account Types | 3.5/5 | 4.3/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:500 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
TeleTrade
The broker offers standard trading accounts with additional options such as "24% Bonus" and "Copy Trading". However, the absence of cent, fixed, and Islamic accounts narrows the choices for specialized traders.
Pros
- Additional income through "24% Bonus".
- The "Copy Trading" service for diversification.
- Loyalty program with bonus points.
Cons
- No accounts with fixed spreads.
- No cent accounts.
- No Islamic accounts.
XM
XM broker offers various account types to satisfy the needs of different traders, from beginners to professionals.
Pros
- A wide choice of accounts for different experience levels.
- Flexible trading conditions (leverage, deposit).
- Specialized accounts for stock trading.
Cons
- No fixed spread accounts.
- No ECN or STP accounts.
Commissions
| Broker | TeleTrade | XM |
|---|---|---|
| Commissions | 2.5/5 | 2.5/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 1.8 | 1.7 |
| Commission per Lot | $0.86 |
TeleTrade
The level of commissions can be considered average, making the broker's services suitable for various types of traders, but not ideal for all.
Pros
- Competitive spreads on the standard account.
- No withdrawal fees in certain cases.
Cons
- High transaction commission on ECN and NDD accounts.
- Above-average swaps on the standard account.
- Additional commission for account inactivity.
XM
XM's commissions are rated as average.
Pros
- Low spreads on the Ultra Low account.
- No swaps on many currency pairs on the Ultra Low account.
Cons
- Wider spreads and higher swaps on the standard account.
- Inactivity fee.
Deposit and Withdrawal
| Broker | TeleTrade | XM |
|---|---|---|
| Rating | 4/5 | 4.5/5 |
| Account Funding Methods |
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TeleTrade
The broker offers a variety of transaction methods, most of which are commission-free and with fast processing times.
Pros
- Wide selection of deposit and withdrawal methods.
- Most operations are commission-free.
- Instant fund crediting for most methods.
Cons
- Withdrawal requests can be processed for up to 7 business days.
- In some cases, a commission is charged for deposits and withdrawals.
XM
The broker offers convenient deposit and withdrawal methods with zero commission but lacks cryptocurrency support.
Pros
- Zero commission for deposits and withdrawals.
- A minimum limit of only 5 dollars.
- Quick processing of withdrawal requests.
Cons
- No cryptocurrency deposit/withdrawal options.
Markets and Products
| Broker | TeleTrade | XM |
|---|---|---|
| Markets and Products | 4.5/5 | 5/5 |
| Forex | 76 | 55 |
| Precious Metals | 17 | 3 |
| Energy Carriers | 4 | 3 |
| Soft Commodities | 7 | 8 |
| Indices | 26 | 50 |
| Stocks | 146 | 1307 |
| Bonds | 3 | - |
| Cryptocurrency | 79 | 58 |
TeleTrade
TeleTrade offers a wide range of financial instruments, making it attractive for various categories of investors.
Pros
- A large number of currency pairs.
- Wide selection of CFDs on metals and cryptocurrencies.
Cons
- Some brokers offer more CFDs.
XM
The broker offers a wide range of markets and products, including over 1500 items.
Pros
- A large selection of currency pairs.
- Access to CFDs on various assets.
- The ability to trade cryptocurrencies.
Trading Platforms
| Broker | TeleTrade | XM |
|---|---|---|
| Rating | 4/5 | 4/5 |
| Trading Platforms |
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TeleTrade
TeleTrade provides excellent trading opportunities, offering two versions of the popular MetaTrader platforms.
Pros
- Support for MetaTrader 4 and 5, popular and reliable platforms.
- Availability on various operating systems and devices.
- Ability to use automated trading robots.
Cons
- Lack of proprietary platform or alternative to MetaTrader.
XM
XM offers various versions of MT4 and MT5 platforms, providing flexibility in trading.
Pros
- Availability on various devices (PC, Mac, mobile).
- MultiTerminal for managing multiple accounts.
- WebTrader for browser-based trading.
Cons
- No alternatives to MetaTrader.
Analytics
| Broker | TeleTrade | XM |
|---|---|---|
| Rating | 4/5 | 5/5 |
TeleTrade
TeleTrade provides a good range of analytical tools, such as an economic calendar and technical analysis.
Pros
- Includes an economic calendar and updates news.
- Professional market reviews.
- Video analytics available.
Cons
- Lack of trading signals.
- Absence of calculators and technical analysis services.
XM
Analytics at XM are extensive and varied, providing traders with valuable resources for making informed decisions.
Pros
- Exclusive market analysis from professionals.
- Trading signals and tools such as Autochartist.
- The option to listen to news recordings.
Cons
- Real account required to access all materials.
Education
| Broker | TeleTrade | XM |
|---|---|---|
| Rating | 2/5 | 4.5/5 |
TeleTrade
The educational materials at TeleTrade are limited to articles only, which is not ideal for those seeking comprehensive education. The variety and depth of materials are severely limited.
XM
XM's educational materials are extensive and varied, suitable for all experience levels.
Pros
- A wide range of materials: webinars, videos, seminars.
- Available in different languages.
- Daily online sessions with experts.
Cons
- Lack of textual materials and books.
- No personalized learning options.
Customer Support
| Broker | TeleTrade | XM |
|---|---|---|
| Rating | 5/5 | 4/5 |
| Email Support |
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| Hotline Phones |
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| Social Media | — |
Twitter
YouTube
LinkedInTeleTrade
TeleTrade's technical support offers a wide range of communication channels and receives positive feedback from clients. Prompt response and quality consultation make this service one of the broker's strong points.
XM
XM's technical support offers 24/7 access through various channels, but the service quality is inconsistent.
Pros
- Round-the-clock support.
- A variety of communication channels.
- Quick responses in some cases.
Cons
- Ineffectiveness of solutions, according to reviews.
