Both STARTRADER and XM are popular overseas forex brokers among Japanese traders. Compare their specifications, costs, and security to choose the broker that's right for you
### Basic Specifications Comparison
| Item | STARTRADER | XM |
|——|———–|—–|
| Maximum Leverage | 1,000x | 1,000x |
| Leverage Limit Start | $45,000 | $5,000 |
| Financial License | CMA / ASIC / FSCA / FSA / FSC | CySEC / ASIC / IFSC / DFSA |
| Trading Tools | MT4 / MT5 / WebTrader | MT4 / MT5 |
| Zero Cut | Implemented | Implemented |
| Japanese Support | Available | Available (24 hours) |
| Products | FX / Precious Metals / Energy / Agricultural Products / Stock Indices / Stock CFDs / Cryptocurrency CFDs / ETFs | FX / Precious Metals / Energy / Stock CFDs / Cryptocurrencies |
| Number of Instruments | 800+ Instruments | 1,000+ Instruments |
| Fund Protection | Financial Commission + Lloyd's Insurance (up to 1 million USD) | ICF (up to 20,000 EUR) |
### Spread and Cost Comparison
| Comparison Items | STARTRADER (Standard) | STARTRADER (ECN) | XM (Standard) | XM (KIWAMI) |
|———|———————|——————-|——————|—————|
| USD/JPY | 1.3 pips | 0.0 pips + commission | 1.6 pips | 0.7 pips |
| EUR/USD | 1.2 pips | 0.0 pips + commission | 1.7 pips | 0.6 pips |
| Trading Commission | Free | 3.5 USD/lot (one way) | Free | Free |
Between Standard accounts, STARTRADER has a slight advantage. ECN accounts have costs at the same level as XM's KIWAMI account, even including fees
### Bonus Comparison
| Bonus Type | STARTRADER | XM |
|————|———–|—–|
| Account Opening Bonus | None | 13,000 yen |
| Deposit Bonus | 100% (up to 150,000 yen) | 100% (up to $500) + 20% (up to $10,000) |
| Trading Bonus | None | XM Points |
In terms of bonus types and amounts, XM is overwhelmingly advantageous. While STARTRADER's bonuses are limited, it has the advantage of no leverage restrictions (when bonuses are not used)
### Safety comparison
| Item | STARTRADER | XM |
|——|———–|—–|
| Number of Licenses | 5 (CMA/ASIC/FSCA/FSA/FSC) | 4 (CySEC/ASIC/IFSC/DFSA) |
| Higher-Level Licenses | ASIC / CMA | CySEC / ASIC |
| Fund Protection | Lloyd's Insurance up to 1 million USD | ICF up to 20,000 EUR |
| Operating History | 2012– (Rebranded in 2024) | 2009– |
In terms of fund protection, STARTRADER's Lloyd's insurance (up to 1 million USD) significantly surpasses XM's ICF (up to 20,000 EUR). XM has a longer operating history
### Account Type Comparison
**STARTRADER Account Types**
| Account Type | Features |
|———–|——|
| Standard Account | Commission-free, Spreads from 1.3 pips |
| ECN Account | Commission of 3.5 USD/lot (one way),
Spreads from 0.0 pips | | Prime ECN Account | For large-volume trading, Spreads from 0.0 pips |
**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 |
### STARTRADER is recommended for
: – Those who prioritize **fund security** (Lloyd's insurance up to $1 million USD)
– Those who want to use **1,000x leverage up to $45,000** without restrictions
– Those who want to use scalping or EA trading with **ultra-low spreads** on an ECN account
– Those who want to trade **700+ stock CFDs** in the same account as FX
### XM is recommended for
: – Those who want to take advantage of **abundant bonuses** (¥13,000 for opening an account + deposit bonus + XM points)
– Those who are attracted to the low spreads + swap-free + commission-free **KIWAMI account**
– Those who value the peace of mind of **long operating history** (since 2009) and 24-hour Japanese support
– **Beginners** who need thorough support
### Both options are eligible for cashback if accessed via Moneychat
If you open an account through MoneyChat, you can receive cashback from both STARTRADER 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 |
|—————-|———–|
| Fund Protection (Up to 1 million USD) | STARTRADER |
| Generous Leverage Limits | STARTRADER (No limit up to $45,000) |
| Total Bonus Amount | XM |
| Low Cost (No Commissions + Low Spreads) | XM (KIWAMI Extreme Account) |
| Number of Stock CFD Instruments | STARTRADER (700+ Instruments) |
| Operating History & Japanese Support | 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
