XM has become one of the top Forex companies in the world and has many users all over the world. For that reason, it has become a highly rated Forex company, and MyfxMarkets also has a large number of registered users, mainly Japanese users. Which one is better for actually using a Forex company?
XM company profile
XM actually has three companies. If you search online, you should find three hits: XM.com, XMtrading.com, and XMGlobal. The parent company of these three is the same “Trading Point Holdings Ltd”, but they use different domains (company) depending on the country they provide.
XM account type
XM has four types of accounts: “Standard account”, “Micro account”, “KIWAMI pole account” and “Zero account”.
User reviews, reputation
Japanese users are the main users of XM. We have collected reviews from Japanese users who have actually used the product, so please refer to it.
Distribution of XM registered users by country and region
I quoted from TradersUnion, a global trade review site. The country distribution of XM users is shown below. TradersUnion is a review site for forex companies and cryptocurrency exchanges. There are many reviews posted by users all over the world, so it is helpful, but it is better to keep it as a reference because there is fake information.
In the case of XM, there are a lot of Thai users. Overall, you can see that there are a lot of users in Southeast Asia, Southern Africa, and Central and South America. I have the impression that XM has succeeded in attracting customers because it will become one of the top Forex companies in the world.
Source : TradersUnion
On the other hand, in the case of XM Trading, Japanese users account for nearly 99%. In addition, it is clear that Thais, Koreans, and Americans are using this XM.
Source : TradersUnion
What is MyfxMarkets?
MyfxMarkets is quite popular due to its high execution power and narrow spreads. Furthermore, since bonuses are held, it will be a Forex company with a large number of users. However, most of the users are Japanese, and global expansion has not been very successful.
XM VS MyfxMarkets
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bonuses and promotions
XM has account opening bonuses, deposit bonuses and even loyalty programs. MyfxMarkets has account opening bonuses and deposit bonuses, but XM is clearly better.
MyfxMarkets is limited with a maximum leverage of 500x. On the other hand, XM has a maximum leverage of 1000 times, and you can see that there is a difference.
Both of them have been operating for more than 10 years, so they are very stable. Traders will be able to trade with a lot of peace of mind.
average spread comparison
I compared the average spreads of XM and MyfxMarkets with a standard account. XM has very narrow spreads on the zero account, but the spreads on the standard account are very wide. MyfxMarkets’ standard account has clearly narrower spreads, making it a recommended Forex company for short-term trading than XM.
You can see that XM handles more stocks in general, but you can also see that there is not much difference.
Open a free account
XM Trading allows you to open an account for free. Therefore, there is no risk, so you can easily open an account. The following article introduces how to open an account, so please refer to it.