Both Monaxa and XM are popular overseas forex brokers among Japanese traders. Compare their specifications, costs, and support to choose the broker that's right for you
### Basic Specifications Comparison
| Item | Monaxa | XM |
|——|——–|—–|
| Maximum Leverage | 2,000x (Standard/Pro Account) | 1,000x |
| Financial License | Anguilla / Mauritius FSC | CySEC / ASIC / IFSC / DFSA |
| Trading Tools | MT4 / MT5 / cTrader | MT4 / MT5 |
| Zero Cut | Implemented | Implemented |
| Japanese Support | Available | Available (24 hours) |
| Products | FX / Precious Metals / Energy / Stock Indices / Stock CFDs / Cryptocurrency CFDs / Futures | FX / Precious Metals / Energy / Stock CFDs / Cryptocurrency |
### Spread and Cost Comparison
| Comparison Items | Monaxa (Standard) | Monaxa (Pro) | Monaxa (Zero) | XM (Standard) | XM (KIWAMI) |
|———|——————-|————–|—————|—————|—————|
| EUR/USD | 1.7 pips | 0.9 pips | 0.0 pips + commission | 1.7 pips | 0.6 pips |
| Trading commission | Free | Free | Round trip $10/lot | Free | Free |
In terms of cost, XM's KIWAMI account is advantageous due to its commission-free trading and low spreads. Monaxa's Pro account is competitive with commission-free trading and spreads starting from 0.9 pips, and its cTrader compatibility is a key differentiating factor
### Account Type Comparison
**Monaxa Account Types**
| Account Type | Features |
|———–|——|
| Standard Account | Commission-free, up to 2,000x leverage, for general users |
| Pro Account | Commission-free, low spreads from 0.9 pips |
| Zero Account | Round-trip commission of $10, extremely narrow spreads |
| Cent Account | For small trades |
| cCopy Account | Dedicated to copy trading |
**XM Account Types**
| Account Type | Features |
|———–|——|
| Standard Account | Commission-free, for general users |
| Micro Account | For small-amount trading |
| KIWAMI Extreme Account | Low spreads, swap-free, commission-free |
| Zero Account | Commission-based, extremely narrow spreads |
### Bonus Comparison
| Bonus Type | Monaxa | XM |
|————|——–|—–|
| Account Opening Bonus | $50 | ¥13,000 |
| Deposit Bonus | None | 100% (up to $500) + 20% (up to $10,000) |
| Trading Bonus | None | XM Points (based on trading volume) |
### Monaxa is recommended for
: – Those who want to maximize capital efficiency with **up to 2,000x leverage**
– Those who want to trade while viewing order book information with **cTrader**
– Those interested in **copy trading/PAMM**
– Those who want to take advantage of the commission-free + low spreads of the **Pro account**
### XM is recommended for
: – Those who are attracted to the low spreads, swap-free, and commission-free features of the **KIWAMI account**
– Those who value the security of a long operating history (established in 2009) and a top-tier license (CySEC/ASIC)
– Those who need **24-hour Japanese support**
– Those who value generous bonuses (account opening + deposit + XM points)
### Both options are eligible for cashback if accessed via Moneychat
If you open an account through Moneycha, you can receive cashback from both Monaxa and XM. Whichever broker you choose, you'll get a portion of your trading costs reimbursed, making it a great deal
### summary
| Key Features | Recommended Broker |
|—————-|———–|
| High Leverage (2,000x) | Monaxa |
| cTrader Usage | Monaxa |
| Copy Trading/PAMM | Monaxa |
| Low Cost (No Commission + Low Spreads) | XM (KIWAMI Account) |
| Total Bonus Amount | XM |
| License/Reliability | XM |
| Operating Record | XM |
Both are excellent overseas forex brokers, but the best choice depends on what you prioritize. **Opening accounts with both through MoneyChat and comparing them in person is one approach.**
**Risk Warning**: Forex trading involves risks. Please invest only with funds you can afford to lose
