Scores, winners and data below compare these brokers as CFD brokers: leveraged trading on forex, indices, commodities and crypto. Scores, winners and data below compare these brokers as stock brokers: real shares and ETFs you own outright.
FBS
Available in your country FBS accepts clients from the country this site is for.
66.43% of retail investor accounts lose money when trading CFDs with this provider.
XM
Available in your country XM accepts clients from the country this site is for.
72.82% of retail investor accounts lose money when trading CFDs with this provider.
Best for
What we compare A comparison of the kinds of traders FBS and XM are best suited to, based on what each one actually offers in Nigeria.FBS is better than XM for crypto traders, while XM is better for long-term investors and swing traders. Scalpers, news traders and algo traders can choose either FBS or XM.
| Overall score | FBS 79 Best not offered | XM 74 -5 70 |
|---|---|---|
| Day trading i | ||
| Long-term investing i | ||
| Professional traders i | ||
| High-volume traders i | ||
| Scalpers i | ||
| Swing traders i | ||
| News traders i | ||
| Algo traders i | ||
| Stock traders i | ||
| Crypto traders i | ||
| Futures traders i | ||
| Options traders i |
Regulation
What we compare A comparison between the financial authorities that supervise FBS and the ones that supervise XM.FBS and XM are both regulated by top-tier authorities, including CySEC and ASIC (Australia).
| Section score | FBS 100 not offered | XM 100 100 |
|---|---|---|
| Tier-1 regulators | ||
| ESMA (European Union) i | ||
| FCA (United Kingdom) i | ||
| ASIC (Australia) i | ||
| CFTC (United States) i | ||
| NFA (United States) i | ||
| SEC (United States) i | ||
| CIRO (Canada) i | ||
| MAS (Singapore) i | ||
| SFC (Hong Kong) i | ||
| JFSA (Japan) i | ||
| FINMA (Switzerland) i | ||
| Tier-2 regulators | ||
| FMA (New Zealand) i | ||
| CBR (Russia) i | ||
| FSCA (South Africa) i | ||
| DFSA (Dubai) i | ||
| CSRC (China) i | ||
| ISA (Israel) i | ||
| LFSA (Malaysia) i | ||
| JSC (Jordan) i | ||
| CMA (Kenya) i | ||
| Tier-3 regulators | ||
| FSA (Seychelles) i | ||
| MMA (Maldives) i | ||
| SCB (Bahamas) i | ||
| FSC (Mauritius) i | ||
| VFSC (Vanuatu) i | ||
| FSC (Belize) i | ||
| CIMA (Cayman Islands) i | ||
| SV FSA (Saint Vincent and the Grenadines) i | ||
| FSRC (St. Kitts & Nevis) i | ||
| BMA (Bermuda) i | ||
| BVI FSC (British Virgin Islands) i | ||
| EDR (External Dispute Resolution) i | ||
Safety
What we compare A comparison of the tools and services that FBS and XM have in place to protect your money in Nigeria.FBS and XM both offer segregated client funds and two-factor authentication.
| Section score | FBS 65 not offered | XM 65 65 |
|---|---|---|
| Company info | ||
| Is it publicly traded i | ||
| Is it a bank i | ||
| Year founded i | 2009 | 2009 |
| Parent company i | FBS Markets Inc | Trading Point Holdings |
| CEO i | Christos Kakourides | Tasos Anastasiou |
| Money safety | ||
| Segregated client funds i | ||
| Two-factor authentication i | ||
| Investor compensation scheme i | ||
| Additional money insurance i | ||
| Partner bank i | N/A | N/A |
| Brand power | ||
| Number of customers worldwide i | 27,000,000 | 3,500,000 |
| Annual revenue i | USD 1,000,000,000 | |
| Monthly website search traffic i | ||
Costs
What we compare A comparison of what it costs to trade with FBS and with XM in Nigeria, both on each trade and on holding the account.FBS is better than XM for CFD costs, as FBS has tighter EUR/USD standard spreads, at 1.1 pip (against XM's 2 pips), has tighter gold CFD spreads, at 0.31 points (against XM's 0.55 points), and charges lower Bitcoin CFD fees, at 19.75 USD (against XM's 40 USD). Neither FBS nor XM charges account maintenance fees or deposit fees.
Only XM can be assessed for real stock costs, since FBS is a CFD broker and does not offer real stocks.
| Section score | FBS 57 Best not offered | XM 53 -4 72 |
|---|---|---|
| Broker fees | ||
| Deposit fees i | ||
| Withdrawal fees i | ||
| Overnight fees i | ||
| Inactivity fees i | ||
| Currency conversion fees i | ||
| Discounts on volume i | ||
| Real time market data fee i | ||
| Dividend withholding i | ||
| Account opening fees i | ||
| Account maintenance fee i | ||
| Portfolio management fee i | ||
| Fees on CFDs | ||
| Forex commission per lot i | Free | Free |
| EUR/USD average standard spread i | ||
| EUR/USD average raw spread i | ||
| EUR/USD average fixed spread i | ||
| EUR/USD total cost per lot i | USD 11 | USD 10.5 |
| S&P 500 fees (CFD) i | 0.6 points | 0.6 points |
| Gold fees (CFD) i | 0.31 points | 0.55 points |
| Bitcoin fees (CFD) i | USD 19.75 | USD 40 |
| US stocks fees (CFD) i | Free | Free |
| Fees on stocks | ||
| Stock fee type i | Spread | Commission, Percentage, Spread |
| US stocks fees (real) i | USD 2.8 | |
| ETF fees (real) i | ||
| Management costs i | ||
| Connection costs i | ||
| Fees on futures | ||
| Futures fees per contract i | ||
| Platform fees i | ||
| Fees on options | ||
| Options fees per contract i | ||
| Event fees i | ||
| Fees on savings plans | ||
| IRA opening fee i | ||
| IRA maintenance fee i | ||
| 401k opening fee i | ||
| 401k maintenance fee i | ||
Available markets
What we compare A comparison of the markets and products you can trade with FBS and with XM in Nigeria, and of how many instruments each one gives access to.FBS is better than XM for CFD markets, because FBS offers CFDs on crypto, which XM does not. Both FBS and XM offer CFDs on commodities, forex, indices and stocks.
XM and FBS cannot be compared for real stock markets, because XM is a broker offering both CFDs and stocks while FBS is a CFD broker.
| Section score | FBS 75 Best not offered | XM 65 -10 15 |
|---|---|---|
| Total tradable symbols i | 550 | 1,000 |
| Currency pairs i | ||
| Indices i | ||
| Commodities i | ||
| Stocks i | ||
| ETF i | ||
| Cryptocurrencies i | ||
| Bonds i | ||
| Interest rates i | ||
| Portfolios i | ||
| CFDs i | Commodities, Crypto, Forex, Indices, Stocks | Commodities, Forex, Indices, Stocks |
| Futures i | ||
| Options i | ||
| Assets you can own i | Stocks |
Platform
What we compare A comparison of the trading platforms that FBS and XM make available to their clients in Nigeria.FBS is better than XM for platforms, because FBS offers social trading, which XM does not. FBS and XM both offer MetaTrader 5 and MetaTrader 4.
FBS does not offer real stocks, being a CFD broker, so XM and FBS cannot be compared for platforms.
| Section score | FBS 66 Best not offered | XM 63 -3 63 |
|---|---|---|
| Proprietary platform i | ||
| MetaTrader 4 i | ||
| MetaTrader 5 i | ||
| cTrader i | ||
| Social trading platform i | ||
| Copy trading platform i | ||
| ZuluTrade i | ||
| TradingView i | ||
| Duplitrade i | ||
| Mirror Trader i | ||
| NinjaTrader i | ||
| AutoChartist i | ||
| Real time pricing i | ||
| 5 digit pricing i | ||
| One-click trading i |
Mobile
What we compare A comparison of the mobile apps of FBS and XM in Nigeria, and of what each one lets you do from your phone.FBS is better than XM for mobile trading, given that FBS offers a social trading app, a copy trading app and mobile trading signals, which XM does not. Both FBS and XM offer a proprietary mobile app and the MetaTrader 5 app.
There is no like-for-like comparison for mobile trading, as FBS is a CFD broker and does not offer real stocks.
| Section score | FBS 100 Best not offered | XM 73 -27 73 |
|---|---|---|
| Proprietary app i | ||
| Social trading app i | ||
| Copy trading app i | ||
| MetaTrader 4 app i | ||
| MetaTrader 5 app i | ||
| cTrader app i | ||
| Mobile trading signals i | ||
| Mobile alerts i | ||
| Mobile charting tools i | ||
| Mobile drawing tools i | ||
| Mobile watchlist i | ||
| Smartwatch app i |
Trading features
What we compare A comparison of the trading tools and strategies that FBS and XM allow on their platforms in Nigeria.XM is better than FBS for CFD trading features, given that XM offers trailing stops, which FBS does not. FBS and XM both offer negative balance protection and tier-1 liquidity providers.
FBS does not offer real stocks, being a CFD broker, so XM and FBS cannot be compared for real stock trading features.
| Section score | FBS 79 -8 not offered | XM 87 Best 77 |
|---|---|---|
| Trade execution | ||
| Broker type i | NDD | NDD |
| Average execution time i | 10 ms | 66 ms |
| Slippage occurrence i | ||
| Requotes occurrence i | 0% | 0% |
| Tier-1 liquidity providers i | ||
| PFOF i | ||
| Leverage | ||
| Major FX pairs leverage i | 3000:1 | 1000:1 |
| Minor/Exotic FX pairs leverage i | 3000:1 | 1000:1 |
| Major indices leverage i | 500:1 | 500:1 |
| Minor indices leverage i | 200:1 | 250:1 |
| Gold leverage i | 500:1 | 1000:1 |
| Commodities leverage i | 500:1 | 400:1 |
| Equities leverage i | 100:1 | 20:1 |
| Cryptocurrency leverage i | 1000:1 | |
| Risk management | ||
| Stop losses i | ||
| Take profits i | ||
| Limit orders i | ||
| Trailing stop i | ||
| Margin call i | ||
| OCO orders i | ||
| Guaranteed stop loss i | ||
| Negative balance protection i | ||
| Minimum trade size (FX) i | 0.01 lots | 0.01 lots |
| Minimum trade size (stocks) i | USD 0 | USD 0 |
| Fractional stocks i | ||
| Trading compliance | ||
| Scalping strategies allowed i | ||
| Hedging strategies allowed i | ||
| Automated trading strategy allowed i | ||
| EAs use allowed i | ||
| HFT strategy allowed i | ||
| VPS use allowed i | ||
| API use allowed i | ||
| Price scraping allowed i | ||
| FIFO rule applies i | ||
Account types
What we compare A comparison of the kinds of account you can open at FBS and at XM in Nigeria, and of who each one is meant for.FBS is better than XM for CFD account types, since FBS offers a copy trading account and a cent account, which XM does not. Both FBS and XM offer a demo account and a managed account.
FBS does not offer real stocks, being a CFD broker, so XM and FBS cannot be compared for real stock account types.
| Section score | FBS 70 Best not offered | XM 62 -8 29 |
|---|---|---|
| Demo account i | ||
| Unlimited demo account i | ||
| Standard account i | ||
| Micro account i | ||
| Cent account i | ||
| Nano account i | ||
| Raw spread account i | ||
| ECN account i | ||
| Swap-free account i | ||
| Islamic account i | ||
| Professional traders account i | ||
| Fixed spread account i | ||
| Spread betting account i | ||
| Copy trading account i | ||
| Corporate account i | ||
| Managed account i | ||
| Stock investing account i | ||
| Margin investing account i | ||
| Savings account i | ||
| Retirement account i |
Account opening
What we compare A comparison of what it takes to open and fund an account with FBS and with XM in Nigeria.FBS is better than XM for account opening, since FBS has no minimum withdrawal (against XM's 5 USD), and offers credit cards, which XM does not. Both require a minimum deposit of 5 USD.
There is no like-for-like comparison for account opening, as FBS is a CFD broker and does not offer real stocks.
| Section score | FBS 75 Best not offered | XM 70 -5 70 |
|---|---|---|
| Minimum deposit i | USD 5 | USD 5 |
| Minimum withdrawal i | USD 0 | USD 5 |
| Wire transfers i | ||
| Credit cards i | ||
| Debit cards i | ||
| eWallets i | Neteller, Skrill | |
| Local payment methods i | ||
| Account base currencies i | EUR, USD | AUD, CHF, EUR, GBP, HUF, PLN, RUB, SGD, USD, ZAR |
| Deposit waiting time i | Instant | Instant |
| Withdrawal waiting time i | up to 1 business days | up to 1 business days |
| Bonus program i |
Customer care
What we compare A comparison of the customer support of FBS and XM in Nigeria, in how it can be reached and how fast it answers.FBS is better than XM for customer care, as FBS offers a dedicated account manager and priority support, which XM does not. Both FBS and XM offer phone support and live chat.
XM and FBS cannot be compared for customer care, because XM is a broker offering both CFDs and stocks while FBS is a CFD broker.
| Section score | FBS 82 Best not offered | XM 67 -15 67 |
|---|---|---|
| Number of languages supported i | 15 | 19 |
| Website languages i | Arabic, German, English, French, Indonesian, Italian, Korean, Malay, Portuguese, Spanish, Thai, Turkish, Urdu, Vietnamese, Chinese | Arabic, Czech, German, Greek, English, French, Hungarian, Indonesian, Italian, Korean, Malay, Polish, Portuguese, Russian, Spanish, Tagalog, Thai, Vietnamese, Chinese |
| Website available in English i | ||
| Customer support languages i | Arabic, English, Indonesian, Malay, Spanish, Thai, Turkish | Arabic, Czech, German, Greek, English, French, Hungarian, Indonesian, Italian, Korean, Malay, Polish, Portuguese, Russian, Spanish, Tagalog, Thai, Vietnamese, Chinese |
| Customer support in English i | ||
| Call back request i | ||
| Email support i | ||
| Phone support i | ||
| Live chat i | ||
| Priority customer support i | ||
| Dedicated account manager i | ||
| Cash sweep i | ||
| Stock lending i | ||
| Distributes proceeds i | ||
| Tax withholding agent i | ||
| Tax assistance i |
Learning
What we compare A comparison of the educational material that FBS and XM provide to their clients in Nigeria.FBS and XM are equally good for learning, as both offer education for advanced traders and webinars.
There is no like-for-like comparison for learning, as FBS is a CFD broker and does not offer real stocks.
| Section score | FBS 83 not offered | XM 83 83 |
|---|---|---|
| Education | ||
| Education center i | ||
| Education for beginners i | ||
| Education for advanced traders i | ||
| Webinars i | ||
| Tutorials i | ||
| Glossary i | ||
| Research | ||
| Economic calendar i | ||
| Traders' sentiment i | ||
| Daily market commentary i | ||
| Daily trading ideas i | ||
| News via social media i | ||
| Professional reports i | ||
| Watchlist i | ||
FBS vs XM: which one should you choose?
FBS
CFD Choose FBS, regulated by CySEC and ASIC, if you want a CFD and forex broker for crypto trading, with fast execution.
Open Account 66.43% of retail investor accounts lose money when trading CFDs with this provider.
XM
CFD Choose XM, regulated by the same authorities, if you want an online CFD broker with multiple account currencies.
Stocks Choose XM if you want a stockbroker with multiple account currencies.
Open Account 72.82% of retail investor accounts lose money when trading CFDs with this provider.Other popular comparisons
Below are other head-to-head comparisons that include FBS or XM, each scored with the same data and method as this page.
