XM Alternatives

May 2019
Visit XM
71.61% of retail CFD accounts lose money
Our top picks for XM alternatives
XTB
77% of retail CFD accounts lose money
eToro
66% of retail CFD accounts lose money

The best alternatives to XM are

  1. XTB - Global CFD and FX broker
  2. eToro - Global social trading broker
  3. Plus500 - Global CFD and FX broker
  4. Markets.com - Global CFD and FX broker

Let's see in a bit more detail how the XM alternatives compare to XM and each other:

XM alternatives comparison
XMXTBeToroPlus500Markets.com
Overall score4.44.54.54.44.2
Fees score 4 stars 4 stars 4 stars 4 stars 3 stars
Account opening score 5 stars 5 stars 5 stars 5 stars 5 stars
Deposit and withdrawal score 5 stars 5 stars 4 stars 5 stars 5 stars
Web platform score 3 stars 4 stars 4 stars 4 stars 3 stars
Markets and products score 1 stars 2 stars 3 stars 2 stars 2 stars
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71.61% of retail CFD accounts lose money
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77% of retail CFD accounts lose money
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66% of retail CFD accounts lose money
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80.6% of retail CFD accounts lose money
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64% of retail CFD accounts lose money

Why are these brokers considered good alternatives to XM? There are many areas based on which XM can be compared with others. When we say a given online broker is a good alternative to XM we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

XM alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • XM is recommended for forex and cfd traders looking for metatrader platforms and low trading fees
  • XTB is recommended for forex and cfd traders looking for great funding and withdrawal processes and research tools
  • eToro is recommended for traders and those interested in social trading (copying other traders’ trades)
  • Plus500 is recommended for experienced traders looking for an easy-to-use platform, with great user experience.
  • Markets.com is recommended for beginner cfd traders

Important factors of finding XM alternatives

So far Brokerchooser has reviewed 35 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether XM or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. XM is one of the cheaper brokers, so if this is an important consideration for you, make sure you pick a similarly low-cost XM alternative.

Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At XM this is not a problem as you can have it ready on the same day you registered.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at XM, this might not be the case at its alternatives.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given XM alternative is a must.


Now let's dive into the details of how XM and its alternatives perform in the most important areas!


XM

XM logo

XM was founded in 2009 and it is Global CFD and FX broker. It is authorized and regulated by top-tier regulators, like the UK FCA or Australian ASIC.

XM is considered safe because it has a long track record and is regulated by top-tier regulators.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.61% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for forex and cfd traders looking for metatrader platforms and low trading fees

Pros
  • Low trading fees
  • Easy and fast account opening
  • Great educational tools
Cons
  • Only CFDs and forex offered
  • Limited research tools
  • Inactivity fee

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71.61% of retail CFD accounts lose money

XM
Fees 4 stars

XM has low trading and average non-trading fees.
Pros
  • Low trading fees
  • No withdrawal fee
Cons
  • Inactivity fee
XM alternatives trading fees
XMXTBeToroPlus500Markets.com
Apple benchmark fee$3.9$18.1$0.0$8.9$5.6
Vodafone benchmark fee$5.2$24.4$0.0$7.6$6.8
EURUSD benchmark fee$20.0$17.1$19.1$17.6$28.6

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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71.61% of retail CFD accounts lose money

XM
Account opening 5 stars

XM account opening is hassle-free and straightforward. Your account is ready for trading on the same day.
Pros
  • Fast account opening
  • Fully digital account opening
  • Very low minimum deposit
Cons
None
XM alternatives minimum deposit and account open times
XMXTBeToroPlus500Markets.com
Minimum deposit$5$250$200$114$100
Time to open account1 day1 day1 day1 day1 day

Learn more about the XM minimum deposit here.

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71.61% of retail CFD accounts lose money

XM
Deposit and withdrawal 5 stars

XM's deposit and withdrawal are cost-friendly, fast, and can be done in several forms.
Pros
  • Credit/Debit card deposit and withdrawal
  • No deposit fee
  • Quick funding and withdrawal -within 3 days
Cons
  • $15 fee for withdrawals less than $200
XM and alternatives withdrawal options and fees
XMXTBeToroPlus500Markets.com
Bank TransferYesYesYesYesYes
Credit/Debit cardYesNoYesYesYes
Electronic walletsYesNoYesYesYes
Withdrawal fee$0$0$25$0$0

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71.61% of retail CFD accounts lose money

XM
Web trading platform 3 stars

The web trading platform of XM is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. On the negative side, it lacks a two-step login and the design is outdated.
Pros
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Wide variety of languages
Cons
  • No two-step (safe) login
  • No price alerts
  • Does not look nice
XM - Web trading platform
XM and alternatives trading platform scores
XMXTBeToroPlus500Markets.com
Web platform score 3 stars 4 stars 4 stars 4 stars 3 stars
Mobile platform score 4 stars 4 stars 5 stars 5 stars 4 stars
Desktop platform score 3 stars 4 stars ---

Learn more about XM's web trading platform in the detailed XM review.

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71.61% of retail CFD accounts lose money

XM
Markets and products 1 stars

At XM, you can trade only with CFDs, forex, and cryptos. It lacks real stocks, ETFs, mutual funds, bonds, options, and futures.
XM and alternatives markets and products
XMXTBeToroPlus500Markets.com
StockNoYesYesNoNo
ETFNoYesYesNoNo
ForexYesYesYesYesYes
FundNoNoNoNoNo
BondNoNoNoNoNo
OptionsNoNoNoNoNo
FuturesNoNoNoNoNo
CFDYesYesYesYesYes
CryptoYesYesYesYesYes

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71.61% of retail CFD accounts lose money

#1 XM alternative - XTB
XTB

XTB logo

XTB is primarily a forex and CFD broker, while in some countries you can also trade with stocks. XTB is a global broker with more than ten offices worldwide. In Europe, it serves clients via the UK or a Polish entity. We tested the UK entity but will provide info on all entities.

XTB is listed on the Warsaw Stock Exchange. A listed company is more transparent, as it discloses its financials regularly. XTB is authorized and regulated by different regulators, including the UK FCA.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best CFD broker

Recommended for forex and cfd traders looking for great funding and withdrawal processes and research tools

Pros
  • Fast deposit and withdrawal
  • Fast and user-friendly account opening
  • Good research tools
Cons
  • Limited product portfolio, mostly CFD and FX
  • Sales team can be pushy
  • No 24/7 customer support

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77% of retail CFD accounts lose money

XTB
Fees 4 stars

XTB has average trading fees and low non-trading fees.
Pros
  • Low non-trading fees
  • No withdrawal fee
  • No inactivity fee
Cons
None
XM vs. XTB: Trading fees
XTBXM
Apple benchmark fee$18.1$3.9
Vodafone benchmark fee$24.4$5.2
EURUSD benchmark fee$17.1$20.0

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker
77% of retail CFD accounts lose money

XTB
Account opening 5 stars

XTB account opening is hassle-free and straightforward. Your account is ready for trading on the same day. However, the sales team is very pushy.
Pros
  • Fast account opening
  • Fully digital account opening
  • User-friendly
Cons
  • Sales team pushy
XM vs. XTB: Minimum deposit, time to open an account
XTBXM
Minimum deposit$250$5
Time to open account1 day1 day

If you are interested more in XTB minimum deposit, this overview will help you.

More Visit broker
77% of retail CFD accounts lose money

XTB
Deposit and withdrawal 5 stars

XTB's deposit and withdrawal are cost-friendly, fast, and can be done in several forms. Fees for electronic wallet deposits are quite high.
Pros
  • Credit/Debit card deposit and withdrawal
  • Quick funding and withdrawal -within 3 days
  • User-friendly
Cons
  • High fees for electronic wallet deposits
XM vs. XTB: Withdrawal options
XTBXM
Bank TransferYesYes
Credit/Debit cardNoYes
Electronic walletsNoYes
Withdrawal fee$0$0

More Visit broker
77% of retail CFD accounts lose money

XTB
Web trading platform 4 stars

XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, we missed the two-step login, the leverage setting option and the more sophisticated order types.
Pros
  • User-friendly
  • Good search function
  • Good customizability (for charts, workspace)
Cons
  • No two-step (safe) login
  • Limited order types
Web trading platform of XTB, a XM alternative
XM vs. XTB: Trading platform scores
XTBXM
Web platform score 4 stars 3 stars
Mobile platform score 4 stars 4 stars
Desktop platform score 4 stars 3 stars

Learn more about XTB's web trading platform in the detailed XTB review.

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77% of retail CFD accounts lose money

XTB
Markets and products 2 stars

UK residents, Hungarians and non-Europeans can trade only with CFDs and forex. All other Europeans can also trade with stocks and ETFs.
XM vs. XTB: Markets and products
XTBXM
StockYesNo
ETFYesNo
ForexYesYes
FundNoNo
BondNoNo
OptionsNoNo
FuturesNoNo
CFDYesYes
CryptoYesYes

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77% of retail CFD accounts lose money

#2 XM alternative - eToro
eToro

eToro logo

eToro is a well-known fintech startup, an Israeli social trading broker established in 2007. eToro serves UK clients by an FCA regulated entity and Australians by an Australian entity. All other customers are served by a Cypriot entity. eToro is not listed on any exchange, does not disclose its annual report on its site and does not have a bank parent. It is also one of the 5 best trading platforms for Europeans.

eToro is considered safe because it's UK arm is regulated by a top tier regulator and it is a well-known fintech startup.

eToro is a multi-asset platform which offers primarily CFDs, but you can also invest in stocks and crypto assets. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Best social trading

Recommended for traders and those interested in social trading (copying other traders’ trades)

Pros
  • Free stock and ETF trading in the EU
  • Seamless account opening
  • Social trading experience
Cons
  • Poor customer service
  • Trading platform outages
  • Limited educational tools

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66% of retail CFD accounts lose money

eToro
Fees 4 stars

eToro offers free stock trading in Europe and has low fees for non-EU clients. On the negative side, the non-trading fees and financing rates are high.
Pros
  • Free stock and ETF trading in the EU
  • Low fees for non-EU clients
  • Transparent fee structure
Cons
  • High financing rate
  • $25 withdrawal fee
  • $10 monthly inactivity fee
XM vs. eToro: Trading fees
eToroXM
Apple benchmark fee$0.0$3.9
Vodafone benchmark fee$0.0$5.2
EURUSD benchmark fee$19.1$20.0

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker
66% of retail CFD accounts lose money

eToro
Account opening 5 stars

Account opening is enjoyable and super fast.
Pros
  • Fast account opening
  • No minimum account balance
  • User-friendly
Cons
None
XM vs. eToro: Minimum deposit, time to open an account
eToroXM
Minimum deposit$200$5
Time to open account1 day1 day

If you are interested more in eToro minimum deposit, this overview will help you.

More Visit broker
66% of retail CFD accounts lose money

eToro
Deposit and withdrawal 4 stars

It is easy to deposit with a lot of options, including credit cards. However, there is a withdrawal fee, and only USD accounts are available.
Pros
  • Credit/Debit card deposit and withdrawal
  • No deposit fee
  • User-friendly
Cons
  • High withdrawal fee
  • Only one account base currency
XM vs. eToro: Withdrawal options
eToroXM
Bank TransferYesYes
Credit/Debit cardYesYes
Electronic walletsYesYes
Withdrawal fee$25$0

More Visit broker
66% of retail CFD accounts lose money

eToro
Web trading platform 4 stars

eToro’s web trading platform is nice looking and easy-to-use. Getting your fee report is a bit of a pain.
Pros
  • User-friendly
  • Looks nice
  • Social trading
Cons
  • No clear fee report available
  • Cannot be customized
Web trading platform of eToro, a XM alternative
XM vs. eToro: Trading platform scores
eToroXM
Web platform score 4 stars 3 stars
Mobile platform score 5 stars 4 stars
Desktop platform score- 3 stars

Learn more about eToro's web trading platform in the detailed eToro review.

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66% of retail CFD accounts lose money

eToro
Markets and products 3 stars

At eToro you can trade with CFDs and forex. There are also real stocks, ETFs, and many cryptos. It also offers innovative services, like social trading or "CFD funds".
XM vs. eToro: Markets and products
eToroXM
StockYesNo
ETFYesNo
ForexYesYes
FundNoNo
BondNoNo
OptionsNoNo
FuturesNoNo
CFDYesYes
CryptoYesYes

More Visit broker
66% of retail CFD accounts lose money

#3 XM alternative - Plus500
Plus500

Plus500 logo

Plus500 is a CFD broker, established in Israel. It is listed on the Main Market of the London Stock Exchange. Plus500 subsidiaries are authorized and regulated by different regulators, including top-tier regulators like the FCA from the UK.

Plus500 is considered safe because it is listed on a stock exchange, discloses its financials, and is regulated by top-tier regulators.

Plus500 is a CFD and forex broker. 80.6% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Daytraders!: At Plus500 scalping is defined as "A trading strategy where a significant portion of the customer's positions are opened and closed by him/her within 2 minutes." If Plus500 believes you were following this strategy, your account might be blocked and closed. Therefore, if you plan to execute trades within 2 minutes, Plus500 is not your broker

Recommended for experienced traders looking for an easy-to-use platform, with great user experience.

Pros
  • Easy to use platform
  • Low spreads
  • Listed on AIM section of the London Stock Exchange
Cons
  • Limited product portfolio, only CFDs
  • High financing rates
  • Minimal research tools

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80.6% of retail CFD accounts lose money

Plus500
Fees 4 stars

Plus500 has low trading fees and average non-trading fees. Financing rates are very high.
Pros
  • Low trading fees
  • No withdrawal fee
Cons
  • Inactivity fee
  • High financing rate
  • Financing rate calculation is non-transparent
XM vs. Plus500: Trading fees
Plus500XM
Apple benchmark fee$8.9$3.9
Vodafone benchmark fee$7.6$5.2
EURUSD benchmark fee$17.6$20.0

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker
80.6% of retail CFD accounts lose money

Plus500
Account opening 5 stars

Plus500 account opening is seamless, fast and fully digital. You can open your trading account within a day.
Pros
  • Fast account opening
  • Fully digital account opening
  • User-friendly
Cons
None
XM vs. Plus500: Minimum deposit, time to open an account
Plus500XM
Minimum deposit$114$5
Time to open account1 day1 day

If you are interested more in Plus500 minimum deposit, this overview will help you.

More Visit broker
80.6% of retail CFD accounts lose money

Plus500
Deposit and withdrawal 5 stars

Plus500's deposit and withdrawal are both great. You have many options, the process is easy-to-do and usually free of charge.
Pros
  • Credit/Debit card deposit and withdrawal
  • No deposit fee
  • User-friendly
  • Five withdrawal per month is free
Cons
None
XM vs. Plus500: Withdrawal options
Plus500XM
Bank TransferYesYes
Credit/Debit cardYesYes
Electronic walletsYesYes
Withdrawal fee$0$0

More Visit broker
80.6% of retail CFD accounts lose money

Plus500
Web trading platform 4 stars

Plus500 trading platform is very easy-to-use and also looks great. On the flip side, it cannot be customized. 
Pros
  • User-friendly
  • Two-step (safe) login
  • Good search function
  • Available in several languages
Cons
  • Limited customizability (for charts, workspace)
Web trading platform of Plus500, a XM alternative
XM vs. Plus500: Trading platform scores
Plus500XM
Web platform score 4 stars 3 stars
Mobile platform score 5 stars 4 stars
Desktop platform score- 3 stars

Learn more about Plus500's web trading platform in the detailed Plus500 review.

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80.6% of retail CFD accounts lose money

Plus500
Markets and products 2 stars

At Plus500 you can trade only with CFDs and forex. There are a lot CFDs, you can choose from almost 2,000.
XM vs. Plus500: Markets and products
Plus500XM
StockNoNo
ETFNoNo
ForexYesYes
FundNoNo
BondNoNo
OptionsNoNo
FuturesNoNo
CFDYesYes
CryptoYesYes

More Visit broker
80.6% of retail CFD accounts lose money

#4 XM alternative - Markets.com
Markets.com

Markets.com logo

Markets.com is a global CFD and FX broker established in 2010. Markets.com is operated by Safecap Investment Limited, which is regulated by two regulators, the Cypriot Cysec and the South African FSCA. It is not regulated by FCA, the top-tier, UK regulator. Safecap is owned by Playtech, a gambling software development company.

Markets.com is considered safe, because its parent company, Playtech is listed on a stock exchange.

Markets.com is a CFD and forex broker. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Recommended for beginner cfd traders

Pros
  • Low trading fees
  • Account open is seamless and fast
  • Innovative research tools
Cons
  • Limited product portfolio, only CFDs
  • Not FCA regulated, Cysec and FSB only

Visit broker
64% of retail CFD accounts lose money

Markets.com
Fees 3 stars

Markets.com has low trading fees and financing rates. On the negative side, there is a high inactivity fee and the fee structures are not transparent.
Pros
  • Low trading fees
  • No withdrawal fee
  • Low financing rate
Cons
  • Inactivity fee
  • Not transparent fee structure
  • Financing rate calculation is non-transparent
XM vs. Markets.com: Trading fees
Markets.comXM
Apple benchmark fee$5.6$3.9
Vodafone benchmark fee$6.8$5.2
EURUSD benchmark fee$28.6$20.0

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

More Visit broker
64% of retail CFD accounts lose money

Markets.com
Account opening 5 stars

Markets.com account opening is seamless, fast and fully digital. You can open your trading account within a day.
Pros
  • Fast account opening
  • Fully digital account opening
  • User-friendly
Cons
  • $/€/£100 minimum funding
XM vs. Markets.com: Minimum deposit, time to open an account
Markets.comXM
Minimum deposit$100$5
Time to open account1 day1 day

If you are interested more in Markets.com minimum deposit, this overview will help you.

More Visit broker
64% of retail CFD accounts lose money

Markets.com
Deposit and withdrawal 5 stars

Markets.com deposit and withdrawal are free of charge, with many options and easy-to-do.
Pros
  • Credit/Debit card deposit and withdrawal
  • No deposit fee
  • Several account base currencies
Cons
  • None
XM vs. Markets.com: Withdrawal options
Markets.comXM
Bank TransferYesYes
Credit/Debit cardYesYes
Electronic walletsYesYes
Withdrawal fee$0$0

More Visit broker
64% of retail CFD accounts lose money

Markets.com
Web trading platform 3 stars

Markets.com's web trading platform looks nice, easy to use, and has a great search function. It has limited order types, and the two step login is missing.
Pros
  • User-friendly
  • Good search function
  • Available in several languages
Cons
  • No two-step (safe) login
  • Limited order types
  • No order confirmation
Web trading platform of Markets.com, a XM alternative
XM vs. Markets.com: Trading platform scores
Markets.comXM
Web platform score 3 stars 3 stars
Mobile platform score 4 stars 4 stars
Desktop platform score- 3 stars

Learn more about Markets.com's web trading platform in the detailed Markets.com review.

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64% of retail CFD accounts lose money

Markets.com
Markets and products 2 stars

At Markets.com you can trade only with CFDs, forex, and cryptos.
XM vs. Markets.com: Markets and products
Markets.comXM
StockNoNo
ETFNoNo
ForexYesYes
FundNoNo
BondNoNo
OptionsNoNo
FuturesNoNo
CFDYesYes
CryptoYesYes

More Visit broker
64% of retail CFD accounts lose money

XM alternatives
Bottom line

Based on our analysis, there are several good alternatives to XM. They all offer similar products and target similar customers. Here's a recap of the results in a table.

XM alternatives
BrokerInfoRecommended for
XMGlobal CFD and FX brokerForex and CFD traders looking for MetaTrader platforms and low trading fees
XTBGlobal CFD and FX brokerForex and CFD traders looking for great funding and withdrawal processes and research tools
eToroGlobal social trading brokerTraders and those interested in social trading (copying other traders’ trades)
Plus500Global CFD and FX brokerExperienced traders looking for an easy-to-use platform, with great user experience.
Markets.comGlobal CFD and FX brokerBeginner CFD traders

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

AUTHOR

Dan Sallai
Dan Sallai
CMO
My goal is to help people find our resourceful content when they need the most. I combine my 10+ years online marketing experience with the team's finance knowledge to reach that every day. On the side I'm paying bowling, tennis and enjoy spending great time with my children.
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