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Our top alternative brokers to XM
eToro
4.7
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Your capital is at risk
XTB
4.7
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79% of retail CFD accounts lose money
Our top alternative brokers to XM
eToro
4.7
Find out more
Your capital is at risk
XTB
4.7
Find out more
79% of retail CFD accounts lose money
XM Alternatives

The best alternatives to XM are

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

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

XM alternatives comparison
XM XTB eToro Plus500 Markets.com
Overall score 4.3 4.7 4.7 4.4 4.0
Fees score 3.8 stars 4.1 stars 4.5 stars 3.6 stars 1.6 stars
Account opening score 5.0 stars 5.0 stars 5.0 stars 5.0 stars 5.0 stars
Deposit and withdrawal score 5.0 stars 4.5 stars 3.7 stars 5.0 stars 4.5 stars
Web platform score 2.8 stars 4.4 stars 4.4 stars 4.4 stars 4.5 stars
Markets and products score 2.5 stars 2.8 stars 3.8 stars 1.9 stars 1.8 stars
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75.55% of retail CFD accounts lose money
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79% of retail CFD accounts lose money
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Your capital is at risk
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76.4% of retail CFD accounts lose money
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73.9% 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 who prefer metatrader platforms and seek low trading fees
  • XTB is recommended for forex and cfd traders looking for low fees and great deposit/withdrawal service
  • eToro is recommended for traders interested in social trading (i.e. copying other investors’ trades) & zero commission stock trading
  • Plus500 is recommended for experienced traders looking for an easy-to-use platform and a great user experience
  • Markets.com is recommended for traders looking to venture into cfd trading

Important factors of finding XM alternatives

So far BrokerChooser has reviewed 71 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 alternatives
XM

XM is an online broker whose parent company is Trading Point Holding, a global CFD and FX broker founded in 2009. Trading Point Holding has two brands, XM and Trading.com.

XM is available globally and is regulated by three financial authorities: the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) and the International Financial Services Commission of Belize (IFSC).

Trading.com is available only for most EEA residents and is regulated by the UK's Financial Conduct Authority (FCA).

In this review, we will focus on the XM brand.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.55% 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 who prefer metatrader platforms and seek low trading fees

Pros Cons
Low CFD and withdrawal fees Limited product portfolio
Easy and fast account opening Average forex fees
Great educational tools No investor protection for non-EU clients

Find out more
75.55% of retail CFD accounts lose money

Fees
3.8

XM has low trading fees for CFDs and charges no withdrawal fee. On the other hand, forex fees are only average, and there is a fee for inactivity.
Pros Cons
No withdrawal fee Inactivity fee
Low CFD fees Average FX fees
XM alternatives trading fees
XM XTB eToro Plus500 Markets.com
S&P 500 index CFD fee $2.4 $1.9 $2.4 $2.1 $5.0
Europe 50 index CFD fee $2.4 $1.9 $2.7 $1.9 $2.5
EURUSD benchmark fee $17.1 $14.8 $16.4 $18.1 $24.1
GBPUSD benchmark fee $14.0 $10.8 $12.7 $13.7 $24.7

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

Find out more More
75.55% of retail CFD accounts lose money

Account opening
5.0

XM account opening is hassle-free and straightforward. You may be able to trade on your account already on the same day.
Pros Cons
Fast None
Fully digital
Low minimum deposit
XM alternatives minimum deposit and account open times
XM XTB eToro Plus500 Markets.com
Minimum deposit $5 $0 $200 $100 $250
Time to open account 1 day 1 day 1 day 1 day 1 day

Learn more about XM minimum deposit here.

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75.55% of retail CFD accounts lose money

Deposit and withdrawal
5.0

XM's deposit and withdrawal processes are fast and inexpensive, and offer you several options.
Pros Cons
Credit/Debit card available None
Several account base currencies
Free wire withdrawal above $200
XM and alternatives withdrawal options and fees
XM XTB eToro Plus500 Markets.com
Bank Transfer Yes Yes Yes Yes Yes
Credit/Debit card Yes No Yes Yes Yes
Electronic wallets Yes No Yes Yes Yes
Withdrawal fee $0 $0 $5 $0 $0

Find out more More
75.55% of retail CFD accounts lose money

Web trading platform
2.8

XM's web trading platform is provided by MetaTrader. It is highly customizable and has a clear fee report. On the other hand, the platform lacks price alerts and the design is outdated.
Pros Cons
Clear fee report No two-step (safer) login
Good customizability (for charts, workspace) No price alerts
Order confirmation Poor design
XM - Web trading platform
XM and alternatives trading platform scores
XM XTB eToro Plus500 Markets.com
Web platform score 2.8 stars 4.4 stars 4.4 stars 4.4 stars 4.5 stars
Mobile platform score 3.8 stars 4.4 stars 4.9 stars 4.9 stars 4.5 stars
Desktop platform score 3.3 stars 4.4 stars - - -

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

Find out more
75.55% of retail CFD accounts lose money

Markets and products
2.5

XM provides CFDs and forex for all clients, while real stocks are available only for clients opening their accounts under the IFSC-regulated entity. Popular asset classes, like real ETFs, bonds or options are missing.
XM and alternatives markets and products
XM XTB eToro Plus500 Markets.com
Stock Yes Yes Yes No No
ETF No Yes Yes No No
Forex Yes Yes Yes No Yes
Fund No No No No No
Bond No No No No No
Options No No No No No
Futures No No No No No
CFD Yes Yes Yes Yes Yes
Crypto No Yes Yes No Yes

Find out more More
75.55% of retail CFD accounts lose money

Verdict

XM is regulated by several authorities globally, including the top-tier ASIC.

On the plus side, we liked the low CFD and withdrawal fees. The account opening process is seamless and hassle-free. There is a wide range of educational tools of great quality.

XM has some drawbacks though. Its product range is limited to FX and CFDs. Its forex fees are average, and non-EU customers are not covered by any investor protection.

We recommend XM for those who are interested in CFD and forex trading and prefer MetaTrader trading platforms. Feel free to test it via the demo account.

XM
Summary XM is a global forex and CFD broker regulated by Australia's ASIC, CySEC of Cyprus, and Belizean authority IFSC.
Fees score 3.8 stars
Recommended for Forex and CFD traders who prefer MetaTrader platforms and seek low trading fees

Find out more More
75.55% of retail CFD accounts lose money

XM alternatives
XTB

XTB is a global CFD and forex broker with headquarters in London and Warsaw, founded in 2002. The company is regulated by several financial authorities worldwide, including the top-tier UK Financial Conduct Authority (FCA). In addition, XTB is listed on the Warsaw Stock Exchange, and as such is required to disclose its financials.

XTB is considered safe because it has a long track record, is listed on a stock exchange, and publishes its financial statements transparently.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% 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 low fees and great deposit/withdrawal service

Pros Cons
Low forex and stock index CFD fees High fees for stock CFDs
Free and fast deposit and withdrawal Product portfolio limited mostly to CFDs and FX
Easy and fast account opening Limited fundamental data

Find out more
79% of retail CFD accounts lose money

Fees
4.1

XTB has low forex and stock index CFD fees. There is also no withdrawal fee for most transfers. On the other hand, stock CFD fees are high, and XTB also charges an inactivity fee.
Pros Cons
Low forex fees High stock CFD fees
Low stock index CFD fees Inactivity fee
No withdrawal fee for transfers above $100
XM vs. XTB: Trading fees
XTB XM
Apple benchmark fee $17.9 $4.9
Vodafone benchmark fee $19.3 $1.4
EURUSD benchmark fee $14.8 $17.1

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

Find out more More
79% of retail CFD accounts lose money

Account opening
5.0

XTB's account opening process is hassle-free, straightforward and fully digital. Your account will be ready for trading on the same day.
Pros Cons
Fast None
Fully digital
No minimum deposit
XM vs. XTB: Minimum deposit, time to open an account
XTB XM
Minimum deposit $0 $5
Time to open account 1 day 1 day

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

Find out more More
79% of retail CFD accounts lose money

Deposit and withdrawal
4.5

XTB deposits and withdrawals are fast, mostly free, and can be done via several channels.
Pros Cons
Credit/Debit card available Few minor account currencies accepted
Free withdrawal
No deposit fee
XM vs. XTB: Withdrawal options
XTB XM
Bank Transfer Yes Yes
Credit/Debit card No Yes
Electronic wallets No Yes
Withdrawal fee $0 $0

Find out more More
79% of retail CFD accounts lose money

Web trading platform
4.4

XTB's xStation 5 platform is user-friendly, can be customized and has a good search function. On the other hand, two-step login is not available.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report
Good search function
Web trading platform of XTB, a XM alternative
XM vs. XTB: Trading platform scores
XTB XM
Web platform score 4.4 stars 2.8 stars
Mobile platform score 4.4 stars 3.8 stars
Desktop platform score 4.4 stars 3.3 stars

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

Find out more
79% of retail CFD accounts lose money

Markets and products
2.8

XTB's default product selection includes only CFDs, forex and crypto. Some European clients can also trade real stocks and ETFs. Popular asset classes like bonds, mutual funds, options and futures are not available.
XM vs. XTB: Markets and products
XTB XM
Stock Yes Yes
ETF Yes No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes No

Find out more More
79% of retail CFD accounts lose money

Verdict

XTB is a great CFD and forex broker. It is regulated by several financial authorities globally, including the UK's FCA. The company is listed on the Warsaw Stock Exchange.

On the plus side, its forex and stock index CFD fees are low, and the deposit and withdrawal process is fast and mostly free. We also liked the seamless and hassle-free account opening process.

XTB has some drawbacks, though. Stock CFD fees are high. The product range is mainly limited to FX and CFDs, although real stock and ETF trading is available in some European countries. Fundamental data offered by XTB covers only a few basics such as P/E.

We recommend XTB for clients who prefer forex or CFD trading, and also want to enjoy great deposit and withdrawal options along with fast account opening. Feel free to test it using a demo account.

XTB
Summary XTB is a global CFD and forex broker, listed on the Warsaw Stock Exchange and regulated by financial authorities including the UK FCA, Poland's KNF, and Cyprus's CySec.
Fees score 4.1 stars
Recommended for Forex and CFD traders looking for low fees and great deposit/withdrawal service

Find out more More
79% of retail CFD accounts lose money

XM alternatives
eToro

eToro is a well-known Israeli fintech startup, a social trading broker established in 2007.

eToro serves UK clients through an entity regulated by the Financial Conduct Authority (FCA), Australians through an Australian Securities and Investment Commission (ASIC) regulated entity. All other customers are served by a Cypriot entity that is regulated by the Cyprus Securities and Exchange Commission (CySEC).

eToro is not listed on any stock exchange, does not disclose its annual report on its site and does not have a bank parent.

eToro is considered safe because its UK and Australian arms are regulated by top-tier financial authorities and it is a well-known fintech startup.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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 traders interested in social trading (i.e. copying other investors’ trades) & zero commission stock trading

Pros Cons
Free stock and ETF trading High forex fees
Seamless account opening Withdrawing money can be slow
Social trading experience Only one account base currency

Find out more
Your capital is at risk

Fees
4.5

eToro offers free stock trading. On the negative side, forex trading fees are high and there is a fee charged for inactivity or withdrawal.
Pros Cons
Low trading fees Withdrawal fee
Free stock trading Monthly inactivity fee after 1 year of no trading
Low CFD fees
XM vs. eToro: Trading fees
eToro XM
Apple benchmark fee $7.2 $4.9
Vodafone benchmark fee - $1.4
EURUSD benchmark fee $16.4 $17.1

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

Find out more More
Your capital is at risk

Account opening
5.0

Account opening at eToro is seamless and very fast.
Pros Cons
Fast None
Fully digital
Low minimum deposit
XM vs. eToro: Minimum deposit, time to open an account
eToro XM
Minimum deposit $200 $5
Time to open account 1 day 1 day

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

Find out more More
Your capital is at risk

Deposit and withdrawal
3.7

Depositing money is free and easy, with a lot of available options, including credit cards. However, there is a withdrawal fee and only USD accounts are available.
Pros Cons
Credit/Debit card available Only one account base currency
No deposit fee $5 withdrawal fee
User-friendly Conversion fee for non-USD deposits
XM vs. eToro: Withdrawal options
eToro XM
Bank Transfer Yes Yes
Credit/Debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $5 $0

Find out more More
Your capital is at risk

Web trading platform
4.4

eToro offers a user-friendly and well-designed web trading platform. In addition, social trading is also available. On the other hand, the customizability is limited.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
Web trading platform of eToro, a XM alternative
XM vs. eToro: Trading platform scores
eToro XM
Web platform score 4.4 stars 2.8 stars
Mobile platform score 4.9 stars 3.8 stars
Desktop platform score - 3.3 stars

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

Find out more
Your capital is at risk

Markets and products
3.8

At eToro you can trade with CFDs and forex, as well as real stocks, ETFs and many cryptocurrencies. In addition, the broker also offers innovative services like social trading and CopyPortfolio.
XM vs. eToro: Markets and products
eToro XM
Stock Yes Yes
ETF Yes No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes No

Find out more More
Your capital is at risk

Verdict

eToro has zero-commission stock trading. Account opening is swift and seamless. It also has a lot of innovative features, like social trading and copying other (successful) traders.

It has some drawbacks, though. Forex fees are high and eToro only allows USD accounts, which means that conversion costs on deposits and withdrawals can be high in some cases. Live chat is hard to reach and their educational materials could be better.

Overall, we would recommend eToro for its social trading feature and zero-commission stock trading.

Risk disclaimer

eToro is a multi-asset platform that offers both investing in stocks and crypto assets, as well as trading CFD assets.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% 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.

Cryptoassets are volatile instruments that can fluctuate widely in a very short timeframe and therefore are not appropriate for all investors. Other than via CFDs, trading crypto assets is unregulated and therefore is not supervised by any EU regulatory framework.

Past performance is not an indication of future results.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

eToro
Summary eToro is a global social trading broker. It is regulated by top-tier authorities such as the UK FCA or Australia's ASIC.
Fees score 4.5 stars
Recommended for Traders interested in social trading (i.e. copying other investors’ trades) & zero commission stock trading

Find out more More
Your capital is at risk

XM alternatives
Plus500

Plus500 is a London Stock Exchange-listed global CFD broker that was founded in 2008 in Israel. It is regulated by several international financial authorities, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).

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

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% 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.

Disclaimer for daytraders: At Plus500, scalping is defined as "A trading strategy based on the notion that client transactions are opened and closed within 2 minutes limit in order to accumulate quick profits from small price changes." 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.

a trading strategy based on the notion that Client transactions are opened and closed within two (2) minutes limit in order to accumulate quick profits from small price changes

Recommended for experienced traders looking for an easy-to-use platform and a great user experience

Pros Cons
Easy-to-use platform Limited product range, only CFDs
Low CFD fees Minimal research tools
Great account opening Mediocre educational section

Find out more
76.4% of retail CFD accounts lose money

Fees
3.6

Plus500 has low CFD fees and average forex fees. The non-trading fees are average as well. Although the broker charges an inactivity fee, it is applied only if you are not even logging in to your account.
Pros Cons
Low trading fees Inactivity fee
No withdrawal fee
XM vs. Plus500: Trading fees
Plus500 XM
Apple benchmark fee $8.8 $4.9
Vodafone benchmark fee $7.6 $1.4
EURUSD benchmark fee $18.1 $17.1

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

Find out more More
76.4% of retail CFD accounts lose money

Account opening
5.0

Plus500 account opening is seamless, fast and fully digital. You can open your trading account within a day.
Pros Cons
Fast None
Fully digital
Low minimum deposit
XM vs. Plus500: Minimum deposit, time to open an account
Plus500 XM
Minimum deposit $100 $5
Time to open account 1 day 1 day

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

Find out more More
76.4% of retail CFD accounts lose money

Deposit and withdrawal
5.0

Plus500's deposit and withdrawal services are both great. You have many options, the process is simple and usually free of charge.
Pros Cons
Credit/Debit card available None
No deposit fee
Five withdrawals per month free
XM vs. Plus500: Withdrawal options
Plus500 XM
Bank Transfer Yes Yes
Credit/Debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

Find out more More
76.4% of retail CFD accounts lose money

Web trading platform
4.4

The Plus500 trading platform is quite easy to use and also looks great. On the negative side, it cannot be customized.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
Web trading platform of Plus500, a XM alternative
XM vs. Plus500: Trading platform scores
Plus500 XM
Web platform score 4.4 stars 2.8 stars
Mobile platform score 4.9 stars 3.8 stars
Desktop platform score - 3.3 stars

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

Find out more
76.4% of retail CFD accounts lose money

Markets and products
1.9

At Plus500 you can trade only with CFDs (forex, stock index, stock, ETF, commodity and crypto). Many popular asset classes, like real stocks or ETFs, are not available.
XM vs. Plus500: Markets and products
Plus500 XM
Stock No Yes
ETF No No
Forex No Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto No No

Find out more More
76.4% of retail CFD accounts lose money

Verdict

Plus500 is a good CFD broker. It is recommended for traders who are aware of the risks of CFD trading. The broker is regulated by several financial authorities globally, including the UK's FCA, and is listed on the London Stock Exchange. If you are not from the UK, you will most likely be served by alternative regulators, like Plus500 Cyprus. In this case, for example, the Cypriot investor protection would apply to you.

Attention Daytraders! At Plus500, scalping is defined as "a trading strategy based on the notion that client transactions are opened and closed within 2 minutes limit in order to accumulate quick profits from small price changes." If Plus500 believes you are scalping, your account may be blocked and closed. Therefore, if you plan to execute many trades within 2 minutes, Plus500 is not your broker.

The Plus500 platform is easy to use, providing a great user experience even for first-timers. Spreads are competitive, but financing rates are quite high. Lastly, the account opening process is great.

On the other hand, CFDs are the only product offered, and there are limited research and educational tools. 

As there is no minimum balance required, no withdrawal fee for withdrawals of over $100, and the inactivity fee only kicks in after three months, feel free to give Plus500 a try.

Plus500
Summary Plus500 is a global CFD broker, listed on the London Stock Exchange's Main Market and regulated by many authorities including the UK FCA and CySEC of Cyprus.
Fees score 3.6 stars
Recommended for Experienced traders looking for an easy-to-use platform and a great user experience

Find out more More
76.4% of retail CFD accounts lose money

XM alternatives
Markets.com

Markets.com has rebranded its services and platforms. For investing purposes, Marketsi is the one for you. For trading purposes, Marketsx is your platform. Everything that is related to trading will be under the Marketsx name. As we are reviewing the broker as a whole, we will refer to it as Markets.com

Markets.com was founded in 2010 and it is a global CFD and FX broker. It is regulated by several financial authorities, like the Cypriot CySEC or the UK FCA. 

It is considered safe because it's regulated by at least one top-tier financial authority.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.9% 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 traders looking to venture into cfd trading

Pros Cons
Free and fast deposit and withdrawal High trading fees
Easy and fast account opening Limited product portfolio
Great tools for learning and research Important features missing on trading platforms

Find out more
73.9% of retail CFD accounts lose money

Fees
1.6

Markets.com charges no account, deposit or withdrawal fees. On the flip side, trading fees, financing rates and forex fees are high and inactivity fee can kick in as well.
Pros Cons
No withdrawal fee High trading fees
High forex fees
High financing rate
XM vs. Markets.com: Trading fees
Markets.com XM
Apple benchmark fee $8.7 $4.9
Vodafone benchmark fee $26.7 $1.4
EURUSD benchmark fee $24.1 $17.1

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

Find out more More
73.9% of retail CFD accounts lose money

Account opening
5.0

Account opening at Marktes.com is seamless, fast and fully digital. You can open your trading account within a day.
Pros Cons
Fast None
Fully digital
Low minimum deposit
XM vs. Markets.com: Minimum deposit, time to open an account
Markets.com XM
Minimum deposit $250 $5
Time to open account 1 day 1 day

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

Find out more More
73.9% of retail CFD accounts lose money

Deposit and withdrawal
4.5

Markets.com provides multiple deposit and withdrawal options free of charge on a user-friendly interface.
Pros Cons
Credit/Debit card available None
Free withdrawal
No deposit fee
XM vs. Markets.com: Withdrawal options
Markets.com XM
Bank Transfer Yes Yes
Credit/Debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

Find out more More
73.9% of retail CFD accounts lose money

Web trading platform
4.5

Markets.com's web trading platform is easy to use, has a clear fee report and good search function. On the other hand, we missed a two-step login, customizability and order confirmation features.
Pros Cons
User-friendly No two-step (safer) login
Clear fee report
Good search function
Web trading platform of Markets.com, a XM alternative
XM vs. Markets.com: Trading platform scores
Markets.com XM
Web platform score 4.5 stars 2.8 stars
Mobile platform score 4.5 stars 3.8 stars
Desktop platform score - 3.3 stars

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

Find out more
73.9% of retail CFD accounts lose money

Markets and products
1.8

Markets.com has a limited product portfolio as you can only trade with CFDs, forex, a couple of cryptos and CFD funds.
XM vs. Markets.com: Markets and products
Markets.com XM
Stock No Yes
ETF No No
Forex Yes Yes
Fund No No
Bond No No
Options No No
Futures No No
CFD Yes Yes
Crypto Yes No

Find out more More
73.9% of retail CFD accounts lose money

Verdict

In this review, we tested Markets.com thoroughly and here is the verdict: it is an ok broker, especially if you want to concentrate on CFD trading. The account opening is seamless and fast, it has good research tools and great customer service and it is also regulated by multiple top-tier financial regulators, like the FCA and the ASIC. On the other hand, the trading fees are high and it offers only CFDs and forex. We also missed some important features on the trading platforms like two-step authentication or price alerts on the web.

All in all, it is a good choice. As the account opening is super easy and there is no inactivity fee, feel free to try it.

Markets.com
Summary Markets.com is a brand of Markets.com, a global CFD and forex broker regulated by the UK FCA, Australia's ASIC, CySEC in Cyprus, and South Africa's FSCA, among others. Its operated by Playtech, a subsidiary that is on the London Stock Exchange.
Fees score 1.6 stars
Recommended for Traders looking to venture into CFD trading

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73.9% 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
Broker Info Recommended for
XM Global CFD and forex broker Forex and CFD traders who prefer MetaTrader platforms and seek low trading fees
XTB Global CFD and forex broker Forex and CFD traders looking for low fees and great deposit/withdrawal service
eToro Global social trading broker Traders interested in social trading (i.e. copying other investors’ trades) & zero commission stock trading
Plus500 Global CFD broker Experienced traders looking for an easy-to-use platform and a great user experience
Markets.com Global CFD and forex broker Traders looking to venture into CFD trading

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

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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73.9% of retail CFD accounts lose money
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