Once you’ve done a few training courses and you understand what you’re doing when it comes to trading, you need to find a broker. There are loads of them out there, but in this article, we’re going to focus on just two, BDSwiss and Xm. Both allow users to invest and trade on Forex, cryptocurrencies, and commodities. Your capital is at risk with each one, and they both offer something similar. So which one is better? That’s precisely what we’re going to examine here. Our BDswiss vs Xm comparison is as follows:
Overall BDSwiss is a much more complete package as a broker. Both they and Xm have their advantages and disadvantages over each other, but BDSwiss definitely offers you the most. There are all kinds of features that you get from BDSwiss that you won’t with Xm, and most of those come in the form of either training of just a far simpler trading process.
There are benefits and drawbacks to every trading broker. Here we’re going to look specifically at the benefits of using both BDSwiss and Xm in turn.
BDSwiss isn’t quite as highly rated as Xm, despite them being an older company. However, your view can change depending on how you look at them. The company has been established since 1994, so they have 26 years of experience to offer you. There are live chat support and some phenomenal free training to get started with if you’re a novice. With training, you’ll need to deposit $100, but you don’t need to spend it. For standard use, you need to make a minimum deposit of $500. Instead of seeing this as expensive, though, you can see it as a higher requirement due to the added experience that BDSwiss brings. A smaller company will have a lower minimum deposit, but your chance of a return is also much less.
Xm is rated slightly higher than BDSwiss, though again, I think this is because they’re seen as a cheaper investment to kick things off with. Don’t forget the importance of experience. With that said, Xm has 11 years of industry experience to offer, having been established since 1994. They too have a dedicated live chat support system to help all of their users, and their minimum deposit is $5. To top things off, they’re regulated by a number of bodies: the International Financial Services Commission (IFSC), Australian Securities and Investment Commission (ASIC), and Cyprus Securities and Exchange Commission (CySEC).
One thing that is very appealing about Xm is the fact that they segregate their client’s funds. This means that your funds are kept somewhere outside of theirs, so you know the company has enough cash flow to keep going without dipping into your profits. I see this as a very attractive feature.
Reputation and Support
? A company’s reputation can be the thing that makes or break them. Regarding the matter of BDSwiss vs Xm, both companies have a good reputation, but Xm’s is slightly more appealing.
As I’ve already pointed out, BDSwiss has a dedicated live chat support service. This is essential because you need to be able to make trades in seconds, and if that’s not possible, someone must be on hand to fix it. Overall their reputation is good, but they’re seen as a rather expensive broker to go with. On the other hand, they do offer a lot of free training, making them a fantastic broker to start your career with.
For Xm the story is much the same as it is with BDSwiss. They, too, have a vast selection of training courses to get you into trading. Though with fewer years on the market, it’s hard to believe that their training is on a par with what more experienced companies offer. These guys also have a dedicated live support channel and are well respected despite being a younger company in the industry. In terms of all-round reputation, It’s Xm that comes out on top.
Having a range of funding methods can be a good thing. Depending on where your cash is, you can deposit it to your broker through multiple channels. However, a lack of funding methods doesn’t necessarily mean a broker is better or worse. This is simply how they choose to accept funds for their own protection.
BDSwiss accepts deposits through a Credit or Debit Card, bank transfer, Neteller, or Skrill. I think a range of payment options is great, but being wary about the number is sensible. If you prefer one of these methods, then BDSwiss may be the broker for you. The time for both making deposits and withdrawing money varies. You should expect delays on both your first deposit and withdrawal since your bank and BDSwiss will both want to thoroughly check you out before the business concludes.
Xm is a bit more open, taking cards, bank transfers, and Neteller payments. As I said above, a range of options doesn’t necessarily make one broker better than the other. However, if you want to be able to make a bank transfer overusing a card, then Xm is obviously the superior broker. While deposit times still vary, the withdrawal time is set at 2 business days for Xm.
I would say that a broker’s features are part of what defines them in the industry. This is also where you’ll find the things that make or break a company for you as a trader. This is where the real BDSwiss vs Xm fight is being held.
You’ll be glad to know that BDSwiss has a platform that works across all major operating systems, including Android, iOS, and Windows. They offer variable spreads when it comes to Forex trading and Scalping trading as well. One massive bonus to many will be the ability to use a Virtual Private Server (VPS), as well as Market Maker, STP Broker, and ECN Broker. The company will also allow you to use trading signals to set up alerts so that you can get on top of every single trade almost immediately.
This is where the fight could be over. Of course, Xm offers functionality across all the same platforms that BDSwiss does. In fact they offer everything that BDSwiss does apart from STP and ECN Brokers.
In addition to all of those features, Xm offers you the power to set price alters, stop-loss orders, and use Hedge trading. You can initiate a trade with one click, implement trailing stops, and even ask for advice from expert advisors courtesy of Metatrader. Finally, you can also make use of trading signals here.
This is another aspect that could win the BDSwiss vs Xm battle. Depending on the markets you want to trade in, one broker could come out above the other.
The markets that BDSwiss allows you to trade in are as follows:
The markets that Xm allows you to trade in are as follows:
- Dow Jones
Overall, both brokers offer you a lot for the relatively small price they ask for as an initial deposit. It’s hard to judge which one is better because it will be subjective to your personal trading needs. I would say that BDSwiss is a better starting point, though. They offer some phenomenal trading, and if you don’t want to trade with them after learning all about the market, then more to Xm. They have yet more training for you to work through and a much lower initial deposit to allow you to experiment with smaller trades before moving up to larger ones.