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Micro account is famously known for its small size that helps beginners with minimum risks in trading. Between XM and FBS, who has the better micro account?
XM and FBS are both among the popular retail brokers in the forex industry. One of the most popular features of these brokers is that they offer a micro account for trading. This is an account where you can open micro lots to prevent risking too much capital in one go. In order to understand who has the best micro account, we have to first look at these brokers as a whole.
XM
XM has been operating since 2009 and is based out of Cyprus. In order to open an account with XM, you need to make a minimum deposit of $5.
Here are the top features of XM:
Regulations
Both the Australian Securities and Investment Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC) have granted XM permission to operate and oversee the company. This helps to guarantee that customer assets are kept secure and that the company complies with strict regulatory criteria set by the most sought-after authorities.
See Also:
Additionally, the company is also registered with the International Financial Services Commission of Belize and the Dubai Financial Services Authority. Trading with a registered broker provides me with the assurance that my money will be kept secure, thus I will always choose to do so if given the choice. It is to everyone's advantage to have more regulators.
Platforms
XM's customers have been given the opportunity to trade on a variety of platforms, including the well-known MetaTrader 4/5 trading platforms for desktop computers, as well as web trading that takes place directly in the client's browser and does not require the download or installation of any additional software.
The mobile trading applications are especially helpful if you need to access your trading account while you are on the move as long as you have an internet connection. Just keep in mind that MT5 provides a comparative number of features and functions that are somewhat more advanced than MT4.
Education
Within the XM Group's research and education, department is a big library including a variety of educational resources. This includes but is not limited to daily market updates, events in the economic world, tutorial videos, webinars, and seminars of all kinds. This part is often updated by 20 market specialists who are fluent in many languages to provide a varied collection of information for traders of all levels, from those who are just starting out to those who are more experienced.
Customer Support
Over 450 people are employed by XM Group, which provides customer assistance in over 30 different languages around the world. Support is offered by phone, chat, and email around the clock.
The live chat feature offered by XM is, in my experience, the simplest and most efficient method to get in touch with the company's customer service department. What's more, if you use the feature during business hours, a real person will respond to your inquiries and provide you with answers. They are always available whenever I have a question to ask, and I find them to be quite informative as well as kind.
FBS
FBS broker has been operating since 2009 and is based out of Belize. In order to open an account with FBS, you need to make a minimum deposit of $1.
Here are the top features of FBS:
Regulations
Tradestone Ltd., a company that provides financial investment services and is headquartered in Cyprus, is the owner and operator of the European branch of FBS. The Cyprus Securities and Exchange Commission (CySEC) is in charge of overseeing Tradestone's operations.
The International Financial Services Commission (IFSC) in Belize oversees the operations of FBS, the company that is in charge of running the worldwide website. I would have preferred to see FBS controlled by more top-tier authorities.
Platforms
Both MT4 and MT5 trading platforms are available to you through FBS. Both platforms, in appearance and in terms of the services they offer, are virtually identical to one another. The sole difference is that the MT5, being a more recent version, has more functions, and has even enhanced the functionalities that were originally there in the MT4 platform.
Desktop versions of both systems can be downloaded as apps for use on Windows and MAC computers respectively. In addition, you may access them through web browsers or even mobile apps.
Education
The website of FBS contains a listing of several forex books that come highly recommended. The purpose of this is to encourage people who are just starting out to purchase some of these books and read them.
The majority of these books are available for purchase on Amazon, and a link to their respective product pages is provided. It's great that there are more than a hundred books to pick from.
It seems like there is a new webinar practically every week, which is one reason why I think there are more of them. Seminars are held on a regular basis, and they move around to different places. In addition, there are video courses available on MetaTrader, the services offered by FBS, and forex trading in general. If you are new to trading, you may find it helpful to start with these, which are not something that every broker offers its clients.
Customer Support
FBS takes great pride in claiming that its customer service center is available at all times, around the clock. I appreciate that the customer service team is able to assist customers in several languages and that they can be reached through phone, email, fax, and a form that requests a callback.
See Also:
Use the call-back form to arrange for a member of the support staff to call you at a time that is convenient for you. They may be accessed for immediate conversations on the following platforms: online chat, Viber, Facebook messenger, and Telegram. They have profiles on Facebook, Instagram, Twitter, and YouTube among other social media platforms.
Best Broker for Micro Account
Both XM and FBS offer a couple of different accounts for trading. However, their most popular account type is the micro account. XM offers a micro account with no commission and tight spreads that begin at 1 pip. On the other hand, FBS offers a micro account with no commission and tight spreads that begin at 3 pips. If we also take into account the fact that XM is more strictly regulated than FBS, it clarifies that XM is the better broker both overall and also for their micro account.
Did you know? Both brokers are not only comparable in terms of micro accounts but also for their services to beginners. We have discussed the topic in detail in FBS or XM: Which Forex Broker is Better for Beginners?
39 Comments
creel
Aug 22 2022
Those who are just getting started have the option of going with either XM or FBS, both of which are fantastic services. Both of these platforms not only supply extensive trading training, but they also feature micro accounts, which are ideal for newbie traders because of their minimal minimum deposit requirements.
Sandy
Dec 29 2022
Montana
Dec 29 2022
Sandy
Dec 29 2022
aaron
Jan 29 2023
creel: I disagree with the FBS supply trading training program. All I know FBS only has basic Forex education. And also, their mobile app is just for managing account, either for opening account, withdraw, and deposit. But the advantage of FBS that XM doesn't has is that they always create trading competition and trading challenges for traders whether it is their own traders or new traders. So FBS just open a trading contest and if you win the challenge you can win money to trade without having to make a deposit.
But keep in mind, some of the challenges seem very unrealistic.
Jonah
Dec 29 2022
William
Jan 29 2023
Jonah: Dude, what do you mean by keeping the MT4 and MT5 platforms open? I mean there's no difference between these accounts, right? And is it safe to use FBS since you said one click account opening and no authentication required? And what about the mobile app, does FBS have a mobile app?
I think FBS is a regulated broker, right? And I know FBS because they sponsor Leicester City Football Club playing in the Premier League. Because of that, I think FBS is a good broker. Can you tell me more about your experience with FBS?
Sally
Dec 29 2022
Jefferson
Jan 29 2023
Sally: I agree with you! Some traders, especially new traders, need to see a minimum amount to deposit with a financial provider. I also have experience where the broker only needs to deposit $1, but actually after looking at all the financial providers that the broker uses, they all need at least $10 of funds Deposit.
So, I think traders should know the minimum amount of transfer required. And it's the same with withdrawals. So don't be surprised if some banks only accept $10 minimum to make the transfer. By the way to know about that is very simple, just see the payment option and search for the list of banks or other method that accepted to do deposit and withdraw. And search it in search engine about the minimum transaction in there.
Calanthea
Jan 25 2023
I found this article while looking for references to brokers with micro accounts that are friendly for beginners. even after reading this article, to be honest I'm still confused which one is more suitable for beginners.
Actually, what are the benefits of a micro account? Why are beginners advised to open a micro account? Are the spreads and commissions charged on these brokers' micro accounts REALLY lower than other accounts, or "micro account" is just a gimmick? Plz enlightened me guys
Joe B
Jan 29 2023
Calanthea: First of all, see the review both brokers in these pages :
After comparing fees, XM offers low variable spreads from 0.6 pips to 2.0 pips and offers an average commission of $1.70 for 1 standard lot. Meanwhile, there is no commission at FBS but they charge a floating spread starting from 1 pip. For the average, I think the brokers offer almost the same trading conditions. So which one is better, you have to try them first. But for me, XM is a bit better because it provides a trading app that makes trading easier. (XM Mobile app)
Jonathan Dos Santos
Jan 29 2023
I agree with you, Joe. I also choose XM for trading and because it has a mobile app that makes it easy for me to manage my account and trade in one app. And for Calantea, why micro account is recommended for beginners, after all, it's not about spreads and commissions.
Spreads and commissions are the same as operating costs. So whether you have experience or not, as long as you choose these accounts, you will be charged. Sometimes the fees that occur on a micro account are larger than on a standard account and vice versa. So you have to remember that choosing a beginner account is not just about that.
Going back to the micro account, why it is suitable for beginners due to the trading volume you use.
Usually, a standard account lot with 100,000 units counts as 1 lot. In 1 lot, the value of 1 pip is $10, so if you lose 1 pip or gain 1 pip, the value will be $10. BUT in a micro lot of 0.1 lots you can get a pip value of $0.1. And micro accounts also often have limited margin calls and stops. Hence, this will keep you from losing more on forex by limiting your lot, your stop loss and by tightening your margin call as well as some trading instruments are also prohibited.
Soraya
Mar 5 2023
Calanthea: Let me answer about your question. As you know, with a micro account, you can trade with smaller amounts of money and lower minimum deposits, so you don't have to worry about losing a ton of cash while you're learning the ropes.
The best thing about a micro account is that you can practice trading with real money without taking on too much risk. You can learn different strategies and get used to trading platforms before you upgrade to a larger account.
When it comes to fees, micro accounts usually have lower spreads and commissions compared to standard accounts, which can save you some cash. However, fees can vary depending on the broker, so make sure to read the fine print before you sign up.
Overall, a micro account is a legit option for beginners and traders who want to trade with limited capital. It's an affordable and accessible way to get started with Forex trading!
Sha Sha
Mar 5 2023
According to the article, it appears that both brokers offer real micro accounts. In addition to having micro accounts, the required deposits for these accounts are also in micro amounts. For instance, XM's minimum deposit is $5, while FBS requires only $1. This means that both brokers offer very low deposits, which is beneficial for beginners who want to try Forex Trading without having to deposit a lot of money. However, I am not entirely sure about the concept of a "micro account." While I understand that a micro lot has a standard value of 0.01 lot, they are uncertain about the volume of trading for a micro account, whether it is the same as a standard account or lower.
Nabil
Mar 5 2023
Sha Sha: The concept of micro account is the minimum volume you can trade is 0.01 lot. And it is actually not to different to standard account but some brokers may limited your trading. From the maximum lot you can open in one trade to the instrument asset that you can trade. Meanwhile, the standard account can offer more wider and more freedom in trading. And there is also big different in the spread and commissions since the micro account may offer lower commission and higher spread or vice versa.
So, for me, the micro account is actually standard account that limited by broker.
Sha Sha
Mar 5 2023
Nabil: Thanks for getting back to me. So, it seems like the micro account and standard account have similar trading volumes, which is a bit disappointing since I thought the micro account would have lower trading volume. I've realized that the risk involved in trading with either account is the same, even if the lot size is set to 0.01.
But forget about those account types for now, what I really want to know is whether it's possible to trade with a minimum deposit of less than $10, or even as little as $1, on XM and FBS. I'm not entirely sure if that's feasible.
Nabil
Mar 5 2023
Sha Sha: It's true that certain trading platforms like XM and FBS offer the possibility of trading with a minimum deposit of less than $10, and even as little as $1. However, it's worth noting that the minimum deposit for a micro account at XM is actually $5, and XM offers a maximum leverage of 1:500, while FBS offers a maximum leverage of 1:3000. Assuming that the leverage levels are the same for both platforms, you can calculate your margin used accordingly using calculator margin.
And here is the result :
Since it only used $2.12; the deposit of $5 is enough to do the trading but limited to only 1 position. More than that, the risk of margin call or stop out maybe occured.
Akash Shen
Mar 25 2023
I'm interested in opening a micro account with either XM or FBS, but I'm not sure which one would be the better option for me. Can you compare and contrast the features and benefits of the micro accounts offered by each broker? What are the minimum deposit requirements for each account, and what types of payment methods are accepted? What is the leverage offered for micro accounts, and how does this compare to other account types offered by the brokers? Are there any commission fees or hidden charges associated with micro accounts? What types of trading platforms are available, and how user-friendly are they? Additionally, what customer support options are available, and how responsive and helpful are the support teams?
Lovlo Barua
Mar 25 2023
As a new trader, I'm looking for a broker that offers a micro account with low costs and fees but also provides a reliable and secure trading environment. How do XM and FBS compare in terms of their reputation, regulation, and safety measures? What types of educational and research resources are available to help me improve my trading skills and knowledge? What types of trading instruments and markets are available for micro account holders, and how diverse and competitive are the spreads? Lastly, I'm concerned about the withdrawal process and the length of time it takes to receive my funds. Can you provide an overview of the withdrawal process for both XM and FBS and what options are available for quick and convenient withdrawals?
Saiko
Apr 14 2023
I have read that the micro account offered by XM is better than that of FBS because of its narrow spread of only 1 pip. However, I'm curious about the details of XM's micro account. I know that a micro lot typically starts at 0.01 lot standard or 1 lot micro. But I'm confused because some brokers claim to offer a micro account, yet their trading conditions are similar to a standard account.
My question is, does XM's micro account allow for opening positions as low as 0.001 lot standard or even lower than 1 lot micro? The same goes for FBS - what is the minimum lot size for their micro account? Thanks in advance!
Heru
Apr 14 2023
@Saiko: And just like you have said before, XM's micro account offers a minimum lot size of 0.01 lot standard, which is equivalent to 1 micro lot. So, unfortunately, you cannot open positions as low as 0.001 lot standard with XM's micro account.
On the other hand, FBS offers a Cent account that is specifically designed for traders who want to trade with smaller amounts. The Cent account allows for a minimum lot size of 0.01 lot cent, which is equivalent to 0.0001 lot standard. This means that with FBS, you can open positions as low as 0.0001 lot standard. Hope it can clarify your question. Thanks!
Larry Marry
Sep 1 2023
How does FBS or XM compare to other forex brokers in the industry that are also popular among beginner traders, and what are the relative advantages and disadvantages of each broker in this context?
Specifically, how do FBS and XM compare to brokers such as eToro, Plus500, and IG, in terms of their user-friendliness, trading costs, regulation and safety, and other important factors for beginner traders?
Additionally, what are some common mistakes that beginner traders should avoid when choosing a forex broker, and how can they conduct their own research and due diligence to ensure that they make an informed and responsible choice?
Saladin
Sep 3 2023
In my opinion, when it comes to ing a broker, the two most important factors to consider are the minimum deposit required and the trading fees offered. For instance, as can be seen in the articles, brokers such as FBS and XM offer low spreads and minimum deposits, making them an attractive option for traders. In terms of regulation and safety, you can check their respective sites or use this website to find out which regulatory bodies oversee them. Additionally, this website also allows you to compare different brokers directly by navigating to the 'broker' section and ing 'compare'. By ing the brokers you are interested in, you can easily see the differences between them and make an informed decision.
Liam Melker
Sep 10 2023
Hey, I've been doing some research on both FBS and XM brokers, and I must say, it's been quite a journey of discovery! The comparison table they provided is pretty insightful, covering everything from minimum deposits to leverage.
But you know what caught my attention the most? It's those terms "tiered up to 1:888" and "non-tiered up to 1:1000" in relation to the Micro Account on XM and the Cent Account on FBS. Now, I'm totally curious about what these "tiered" and "non-tiered" things mean for leverage, and how they impact us traders. I mean, it sounds like some secret sauce to boost our trading game!
So, I was wondering if you could shed some light on this mystery. What's the deal with tiered and non-tiered leverage? How does each type of leverage structure affect our trading capabilities? I'm eager to learn more about it before I take the plunge into the world of trading. Thanks a ton for your insights!
Sekke
Sep 11 2023
I will try to explain in simple ways! In XM's Trading Account, the maximum leverage is "tiered up to 1:888," meaning it can vary for different traders based on position size and trading volume. On the other hand, FBS's Cent Account offers a "non-tiered up to 1:1000" leverage, providing a consistent 1:1000 leverage to all traders.
The difference lies in the approach to maximum leverage. XM's tiered system can offer up to 1:888, while FBS's non-tiered structure always provides 1:1000.
The impact on traders is that XM's Account might have different leverage levels for different traders, offering potentially higher leverage but also variability. In contrast, FBS's Account gives a fixed high leverage for all, providing simplicity.
Keep in mind, higher leverage can increase both profits and losses, so it's essential to manage risk wisely regardless of the structure chosen.
Fairuz
Sep 19 2023
Hi, I was going to open an account with XM and I see a lot of accounts in it but I don't understand what the difference is even after reading the article.
So first I want to ask what is the difference in contract size between micro account and standard account. What does this mean and can this contract give me some trading impact? Is the minimum deposit of $5 enough for me to trade Forex? Thank you!
Janne Medusa
Sep 20 2023
Xerx Silva
Sep 21 2023
you're welcome bro. In fact, micro accounts are used by many beginners who want to feel the live market with minimal risk. As I said earlier, wins and losses at micro account count equally. So if you lose $10 with 0.01 lot on standard account, at micro account you need to loss 100 times with 100% loss rate to achieve $10 loss.
One more suggest, since scalping requires opening many positions and each position opened is calculated by the spread, we choose zero spread to do the scalping. Therefore, if you are familiar with forex, I recommend opening a ultra low standard account, as the spread is only 0.6 pips. If you choose the standard account, the spread is 1 pip, which is very is expensive for scalping.
Sammuel
Sep 21 2023
Which devices can be used with the MetaTrader 5 (MT5) platform, considering the information provided? We all know that a trading platform is essential for conducting trades in the financial markets, and choosing the right one can save you time and make your trading process smoother. Now, let's talk about XM, a reputable broker with a large customer base, operating in numerous countries. If you decide to trade with XM, you'll have access to both MT4 and MT5 platforms on different devices. So, what are the devices compatible with the MT5 platform? Can you use it on your desktop computer, laptop, smartphone, or tablet? Understanding the advantages of each platform and aligning them with your specific trading needs will help you make an informed decision. So, let's explore the available options and find the best fit for your trading journey!
Billie Sam
Sep 23 2023
Hey there! The MT5 platform can be used on different devices, so you have options for trading. You can access it on your desktop computer, laptop, smartphone, or tablet. If you prefer trading on your computer, you can install MT5 on Windows, macOS, or Linux. It gives you the full range of features and tools right on your desktop. If you're always on the move, the MT5 mobile app is available for iOS and Android devices. You can download it to your smartphone or tablet and stay connected to the markets wherever you are. It provides real-time market quotes, interactive charts, and the ability to execute trades on the go. So whether you like trading from your desk or while you're out and about, MT5 has you covered on your device of choice.
Dandelion
Sep 23 2023
As a newcomer in the world of trading, I have found this website to be an incredibly useful resource in helping me choose the right broker. The website provides detailed comparisons between different brokers, which has made it easy for me to identify which brokers are best suited to my needs. By focusing on factors like low deposit requirements and high leverage, I have been able to narrow down my options to brokers that are most likely to help me succeed.
In regards to XM and FBS, the article mentioned that both brokers offer the popular trading platforms, MT4 and MT5. However, you may be wondering what the difference is between the two platforms and which one is more advanced?
Bernard
Sep 24 2023
If you're looking to get into trading, you'll probably come across MT4 and MT5. They're two of the most popular trading platforms used by brokers. Although they share some similarities, there are some significant differences you should know.
MT4 is the older platform and has been around since 2005. It's known for its simplicity and easy-to-use interface, which is perfect for beginners. But it has some limitations, like you can't execute trades on multiple markets simultaneously, and its charting capabilities are somewhat limited. On the other hand, MT5 is a newer platform that came out in 2010. It's designed to be more advanced and versatile than MT4, with better charting tools, more order types, and the ability to trade on multiple markets simultaneously. Plus, MT5 allows for more in-depth analysis and strategy testing than MT4.
So, there you have it! Both platforms have their pros and cons, but generally, MT5 is considered the more advanced one. It's up to you to decide which one is the right fit for your trading style and goals.
Heimdall
Sep 27 2023
There are so many accounts I can choose in XM. Surprisingly we can choose the account without the need to pay any commission which is good for beginner traders. I mean, as you know, sometimes the brokers will charge commission in trading and can reduce the significance of your profit. Based on XM, there are 3 types that we can choose and I am confused to choose that.
So, What factors should a trader consider when choosing an account type on XM, and how do these factors relate to their trading strategy, level of experience, and risk tolerance?
Sieghard
Sep 28 2023
Hi there! I think you need to pay attention for this. Firstly, you should consider the trading platform that you prefer to use, as XM offers two types of trading platforms: MetaTrader 4 and MetaTrader 5. You should choose an account type that is compatible with your preferred trading platform.
XM offers three main account types, including the Micro, Standard, and XM Ultra Low accounts. Each account type has different features and trading conditions that suit different trading needs and goals. The Micro account is ideal for beginners who want to start trading with small amounts of money, while the Standard account is suitable for more experienced traders who want to trade larger contract sizes and have access to more trading tools and features. The XM Ultra Low account is suitable for traders who want to trade with tight spreads and without any commissions.
You should also consider the level of leverage offered by XM, as high leverage can increase your potential profits, but also increase your risk. You should choose a leverage level that matches your risk tolerance and trading strategy.
Additionally, you should consider the trading instruments offered by XM, which include Forex, CFDs, and cryptocurrencies. You should choose an account type that offers the trading instruments you want to trade.
Finally, you should consider the trading conditions offered by XM for each account type, such as spreads, commissions, and trading hours.
Gabriella
Sep 29 2023
Additional information, in my opinion, if you are a scalper, then XM's Ultra Low account might be a suitable choice for you. This account type is specifically designed for scalping and offers some of the lowest spreads on the market, starting from 0.0 pips. Additionally, the Ultra Low account does not charge any commissions, which can further reduce trading costs.
It's important to note that XM offers some of the tightest spreads on the market, which can be beneficial for scalping. Furthermore, XM allows hedging and scalping strategies, allowing traders to take advantage of short-term price movements in the markets.
As a beginner and scalper, the Ultra Low account may be the best option for you. However, it's important to remember that when choosing an account, you should consider your individual needs and trading goals to ensure that the account type you choose meets your requirements.
Regalia
Nov 25 2023
So, the article talks about how the Micro account is like the go-to for beginners because it's small and helps with low-risk trading. I'm just curious – does "micro account" mean it can be like 0.01 lot, the same as a standard account, or is it just an account where you can go even lower than 0.01 lot? And what's the deal with the standard account that can open 0.01 lot versus the micro account? What sets them apart?
Junianto
Nov 28 2023
Based on my experience, the term "micro account" typically refers to an account size that allows trading in micro-lots, which are 0.01 lots. This is particularly beneficial for beginners as it involves smaller trade sizes and, consequently, lower risk. So, it's not exactly the same as a standard account where 0.01 lots are the smallest; rather, a micro account is designed for trading in fractions of a standard lot.
Now, when it comes to the difference between a standard account that can open 0.01 lots and a micro account, it mainly lies in the lot size flexibility. In a standard account, 0.01 lots are the smallest size, whereas a micro account allows for trading in increments smaller than 0.01 lots. This distinction gives traders more granularity in adjusting their position sizes, which can be particularly useful for those looking to manage risk more precisely, especially when starting out.
Dion
Feb 24 2024
The author mentioned that FBS, which is regulated by Cyprus, is the proprietor and manager of the European division of FBS. The Cyprus Securities and Exchange Commission (CySEC) is responsible for supervising the operations of Tradestone. Additionally, the International Financial Services Commission (IFSC) in Belize oversees the operations of FBS, the entity responsible for managing the global website. I'm curious about the rationale behind FBS having multiple regulators.
Edianto
Feb 27 2024
Let me explain to you! FBS is regulated by multiple authorities, with CySEC overseeing its operations in Europe and the IFSC in Belize managing its global website. This dual-regulatory approach serves several purposes, primarily ensuring compliance with the distinct regulatory requirements of different jurisdictions and enhancing client trust by adhering to stringent regulatory standards. By being regulated by CySEC in Cyprus, FBS can operate within the European Union while meeting the region's rigorous regulatory standards, promoting transparency and accountability for its European clients. Meanwhile, oversight by the IFSC in Belize allows FBS to efficiently serve clients from regions outside of Europe, benefitting from the jurisdiction's favorable regulatory environment and streamlined processes. This multi-regulatory framework enables FBS to operate globally while maintaining compliance with regulatory standards specific to each jurisdiction, fostering trust among clients through a commitment to regulatory compliance and investor protection across diverse markets. (also read : Guide to Forex Brokers with Multiple License )