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Our top alternative brokers to XM
FxPro
4.3
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86.32% of retail CFD accounts lose money
FXTM
4.3
Visit broker
77% of retail CFD accounts lose money
Our top alternative brokers to XM
FxPro
4.3
Visit broker
86.32% of retail CFD accounts lose money
FXTM
4.3
Visit broker
77% of retail CFD accounts lose money
XM Alternatives

The best alternatives to XM are

  1. FxPro - Global CFD and forex broker
  2. FXTM - Global CFD and forex broker
  3. FP Markets - Australian CFD and forex 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 FxPro FXTM FP Markets Markets.com
Overall score 4.5 4.3 4.3 4.5 4.4
Fees score 3.8 stars 3.4 stars 3.4 stars 4.1 stars 2.7 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 3.9 stars 4.7 stars 5.0 stars
Web platform score 2.8 stars 2.8 stars 2.8 stars 2.8 stars 3.8 stars
Markets and products score 2.5 stars 1.7 stars 2.5 stars 2.3 stars 2.9 stars
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86.32% of retail CFD accounts lose money
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77% of retail CFD accounts lose money
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67.02% of retail CFD accounts lose money
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67% 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 great account opening
  • FxPro is recommended for forex and cfd traders looking for a broker with great account opening and familiar with metatrader platform
  • FXTM is recommended for forex traders familiar with the metatrader platform
  • FP Markets is recommended for forex and cfd traders familiar with metatrader and iress trading platforms
  • Markets.com is recommended for traders looking to venture into cfd trading

Important factors of finding XM alternatives

So far BrokerChooser has reviewed 93 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
FxPro

FxPro is a global CFD and forex broker founded in 2006. It is regulated by several financial authorities globally, including the UK's top-tier Financial Conduct Authority (FCA).

FxPro is considered safe because it is regulated by the top-tier FCA and it has a relatively long track record.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 86.32% 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 a broker with great account opening and familiar with metatrader platform

Pros Cons
Superb account opening process Only CFDs and forex
Great customer service High trading fees for some stock CFDs
Free deposit and withdrawal Inactivity fee

Visit broker
86.32% of retail CFD accounts lose money

Fees
3.4

FxPro has free deposit and withdrawal options. On the negative side, FxPro charges an inactivity fee, and stock CFD fees are high.
Pros Cons
No withdrawal fee Inactivity fee
Low financing rate High stock CFD fees
XM vs. FxPro: Trading fees
FxPro XM
Apple benchmark fee $10.6 $6.0
Vodafone benchmark fee $31.2 $1.2
EURUSD benchmark fee $8.8 $9.5

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

Visit broker More
86.32% of retail CFD accounts lose money

Account opening
5.0

FxPro account opening is hassle-free, straightforward and very fast; it may take less than two hours to verify your account.
Pros Cons
Fast None
Fully digital
Low minimum deposit
XM vs. FxPro: Minimum deposit, time to open an account
FxPro XM
Minimum deposit $100 $5
Time to open account 1 day 1 day

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

Visit broker More
86.32% of retail CFD accounts lose money

Deposit and withdrawal
4.5

FxPro offers free and fast deposit and withdrawal, via various channels including bank transfer, credit/debit cards and electronic wallets.
Pros Cons
Credit/Debit card available Few minor account currencies accepted
Free withdrawal
No deposit fee
XM vs. FxPro: Withdrawal options
FxPro XM
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

Visit broker More
86.32% of retail CFD accounts lose money

Web trading platform
2.8

FxPro offers several trading platforms. The MT4 platform we tested is highly customizable and has a clear fee report, but 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
Web trading platform of FxPro, a XM alternative
XM vs. FxPro: Trading platform scores
FxPro XM
Web platform score 2.8 stars 2.8 stars
Mobile platform score 3.8 stars 3.8 stars
Desktop platform score 3.4 stars 3.4 stars

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

Visit broker
86.32% of retail CFD accounts lose money

Markets and products
1.7

At FxPro you can trade CFDs of underlying asset classes including forex, stocks, commodities, futures and indices. However, popular products such as real stocks or ETFs are not available.
XM vs. FxPro: Markets and products
FxPro XM
Stocks No Yes
ETFs No No
Forex Yes Yes
Funds No No
Bonds No No
Options No No
Futures No No
CFDs Yes Yes
Crypto Yes No

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86.32% of retail CFD accounts lose money

Verdict

FxPro is regulated by several authorities globally, including the top-tier FCA.

On the plus side, opening an account is fast and takes place fully online and there are a lot of free deposit/withdrawal options. FxPro has great customer service, with many languages supported. 

FxPro has some drawbacks though. Its product range is limited to CFDs and forex. Its trading fees are generally low, but relatively high for some stock CFDs. A $15 one-off account maintenance fee and a monthly $5 fee is charged after 12 months of inactivity.* 

We recommend FxPro for those who are interested in CFD and forex trading and appreciate a quick and hassle-free account opening process. Feel free to test it via the demo account.

*May vary on jurisdiction

FxPro
Summary FxPro is an international CFD and forex broker, regulated by the UK FCA, CySEC of Cyprus and the SCB at the Bahamas. It is also licensed by South Africa's FSCA.
Fees score 3.4 stars
Recommended for Forex and CFD traders looking for a broker with great account opening and familiar with MetaTrader platform

Visit broker More
86.32% of retail CFD accounts lose money

XM alternatives
FXTM

Disclaimer:  from March 2021, FXTM ends retail operations in the EEA, under CySEC regulation. Only professional clients will be able to use FXTM's services in this region.

FXTM or ForexTime was founded in 2011 and is a global CFD and FX broker. It is regulated by several financial authorities, including the UK Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).

FXTM is considered safe because it is regulated by the top-tier FCA.

Disclaimer: 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.

Recommended for forex traders familiar with the metatrader platform

Pros Cons
Superb customer service High CFD fees
Great educational tools Inactivity and withdrawal fees
Digital and fast account opening Limited product portfolio

Visit broker
77% of retail CFD accounts lose money

Fees
3.4

FXTM's trading fees are low for forex, but average for CFDs. There is also a withdrawal fee.
Pros Cons
Low forex fees Withdrawal fee
Low financing rate Average CFD fees
XM vs. FXTM: Trading fees
FXTM XM
Apple benchmark fee $33.8 $6.0
Vodafone benchmark fee - $1.2
EURUSD benchmark fee $8.3 $9.5

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

Visit broker More
77% of retail CFD accounts lose money

Account opening
5.0

FXTM account opening is fully digital, easy and fast. Your account will be ready within 1-2 business days. There are also a lot of account types you can choose from.
Pros Cons
Fast None
Fully digital
User-friendly
XM vs. FXTM: Minimum deposit, time to open an account
FXTM XM
Minimum deposit $50 $5
Time to open account 1 day 1 day

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

Visit broker More
77% of retail CFD accounts lose money

Deposit and withdrawal
3.9

FXTM offers a great variety of deposit and withdrawal options. Almost everything is available, including credit cards, bank transfer and electronic wallets. The main disadvantage is that FXTM charges a fee for most withdrawal types.
Pros Cons
Credit/Debit card available Most of the withdrawal options have a fee
No deposit fee
Quick deposit and withdrawal - within 3 days
XM vs. FXTM: Withdrawal options
FXTM XM
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $3 $0

Visit broker More
77% of retail CFD accounts lose money

Web trading platform
2.8

The web trading platform of FXTM is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. On the other hand, it lacks a two-step login and 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
Web trading platform of FXTM, a XM alternative
XM vs. FXTM: Trading platform scores
FXTM XM
Web platform score 2.8 stars 2.8 stars
Mobile platform score 3.8 stars 3.8 stars
Desktop platform score 3.4 stars 3.4 stars

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

Visit broker
77% of retail CFD accounts lose money

Markets and products
2.5

FXTM's product selection covers forex and CFDs. Non-EU clients can also trade with real stocks. On the negative side, it lacks ETFs, mutual funds, bonds, options, and futures.
XM vs. FXTM: Markets and products
FXTM XM
Stocks Yes Yes
ETFs No No
Forex Yes Yes
Funds No No
Bonds No No
Options No No
Futures No No
CFDs Yes Yes
Crypto No No

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77% of retail CFD accounts lose money

Verdict

FXTM is regulated by several financial authorities globally, including the top-tier Financial Conduct Authority (FCA).

On the plus side, customer support gives fast and relevant answers. There are several educational tools, including demo accounts and webinars. The account opening is fully digital and fast.

FXTM has some drawbacks though: it charges high CFD fees, inactivity, and withdrawal fees, and the product range is limited.

As account opening only takes a short time, and customer support is helpful and reliable, feel free to try FXTM.

FXTM
Summary FXTM is an international CFD and forex broker, regulated by the UK FCA, CySEC of Cyprus and the Mauritian FSC. It is licensed by South Africa's FSCA.
Fees score 3.4 stars
Recommended for Forex traders familiar with the MetaTrader platform

Visit broker More
77% of retail CFD accounts lose money

XM alternatives
FP Markets

FP Markets is an Australian CFD and forex broker founded in 2005. It is regulated by the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Authority of St. Vincent and the Grenadines.

FP Markets is considered safe because it has a long track record and it is regulated by the top-tier ASIC.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.02% 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 familiar with metatrader and iress trading platforms

Pros Cons
Low forex fees High stock CFD fees
Easy and fast account opening Limited product portfolio
Quick deposits and withdrawals Outdated web and desktop platform

Visit broker
67.02% of retail CFD accounts lose money

Fees
4.1

FP Markets has low forex and non-trading fees and charges no inactivity fee. On the flip side, stock CFD fees are high.
Pros Cons
Low trading fees High stock CFD fees
Low non-trading fees High fee for international bank withdrawal
Low forex fees
XM vs. FP Markets: Trading fees
FP Markets XM
Apple benchmark fee $32.5 $6.0
Vodafone benchmark fee $29.3 $1.2
EURUSD benchmark fee $5.7 $9.5

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

Visit broker More
67.02% of retail CFD accounts lose money

Account opening
5.0

Opening an account at FP Markets is super quick and fully digital. While the minimum deposit is not high for forex, some account types require at least $1,000 balance.
Pros Cons
Fast High minimum account balance for CFD and stock account types
Fully digital
No minimum deposit for forex accounts
XM vs. FP Markets: Minimum deposit, time to open an account
FP Markets XM
Minimum deposit $100 $5
Time to open account 1 day 1 day

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

Visit broker More
67.02% of retail CFD accounts lose money

Deposit and withdrawal
4.7

FP Markets offers a wide range of deposit and withdrawal options, but some withdrawal methods come with a fee.
Pros Cons
Credit/Debit card available Some withdrawal options are not free of charge
No deposit fee
Several account base currencies
XM vs. FP Markets: Withdrawal options
FP Markets XM
Bank transfer Yes Yes
Credit/debit card Yes Yes
Electronic wallets Yes Yes
Withdrawal fee $0 $0

Visit broker More
67.02% of retail CFD accounts lose money

Web trading platform
2.8

FP Markets' web trading platform is provided by MetaTrader. It is highly customizable, available in a lot of languages, and has a clear fee report. On the other hand, it lacks a two-step login and 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 Outdated design
Web trading platform of FP Markets, a XM alternative
XM vs. FP Markets: Trading platform scores
FP Markets XM
Web platform score 2.8 stars 2.8 stars
Mobile platform score 3.8 stars 3.8 stars
Desktop platform score 3.4 stars 3.4 stars

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

Visit broker
67.02% of retail CFD accounts lose money

Markets and products
2.3

FP Markets offers a great portfolio in CFDs, forex, and cryptos. Australian stocks are available, too. Other stocks, ETFs, mutual funds, bonds, options and futures are missing.
XM vs. FP Markets: Markets and products
FP Markets XM
Stocks Yes Yes
ETFs No No
Forex Yes Yes
Funds No No
Bonds No No
Options No No
Futures No No
CFDs Yes Yes
Crypto Yes No

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67.02% of retail CFD accounts lose money

Verdict

FP Markets is a great CFD and forex broker regulated by the top-tier Australian Securities and Investments Commission (ASIC). It offers low forex fees and does not charge an inactivity fee. Both account opening and depositing are fast and you'll find high-quality educational tools, too.

On the downside, stock CFD fees are high and the product portfolio is limited, as it covers only CFDs (equities, indices, metals) and forex instruments. MT4 web and desktop trading platforms have outdated designs.

Feel free to try FP Markets as account opening is easy and there are no inactivity fees.

FP Markets
Summary FP Markets is an Australian CFD and forex broker regulated by the top-tier ASIC.
Fees score 4.1 stars
Recommended for Forex and CFD traders familiar with MetaTrader and IRESS trading platforms

Visit broker More
67.02% of retail CFD accounts lose money

XM alternatives
Markets.com

Markets.com is a global CFD and forex broker founded in 2008. It is regulated by several financial authorities, like the Cyprus Securities and Exchange Commission (CySEC) and the UK's Financial Conduct Authority (FCA). 

Markets.com offers services and platforms under two brands. The Marketsi platform is for share-dealing and investing, while Marketsx is the platform used for CFD trading. In this review, we focus on Markets.com's flagship CFD trading services, using the Marketsx platform.

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% 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 forex fees
Easy and fast account opening Limited product portfolio
Great tools for learning and research Platforms lack important features

Visit broker
67% of retail CFD accounts lose money

Fees
2.7

Markets.com has high forex fees and average CFD fees. There is also an inactivity fee charged. As a plus, it charges no account, deposit, or withdrawal fees.
Pros Cons
No withdrawal fee High forex fees
Inactivity fee
XM vs. Markets.com: Trading fees
Markets.com XM
Apple benchmark fee $11.9 $6.0
Vodafone benchmark fee $31.9 $1.2
EURUSD benchmark fee $11.5 $9.5

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

Visit broker More
67% of retail CFD accounts lose money

Account opening
5.0

Account opening at Markets.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 $100 $5
Time to open account 1 day 1 day

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

Visit broker More
67% of retail CFD accounts lose money

Deposit and withdrawal
5.0

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

Visit broker More
67% of retail CFD accounts lose money

Web trading platform
3.8

Markets.com's web trading platform is easy to use, has great search function, and you can set price alerts. On the other hand, there is no two-step login and it lacks some important features, like a clear fee report.
Pros Cons
User-friendly No clear fee report available
Good search function No two-step (safer) login
Price alerts Limited customizability (for charts, workspace)
Web trading platform of Markets.com, a XM alternative
XM vs. Markets.com: Trading platform scores
Markets.com XM
Web platform score 3.8 stars 2.8 stars
Mobile platform score 4.3 stars 3.8 stars
Desktop platform score 3.4 stars 3.4 stars

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

Visit broker
67% of retail CFD accounts lose money

Markets and products
2.9

Markets.com's product portfolio covers CFDs, forex, and real stocks. On the other hand, other popular asset classes, like ETFs, options, or futures are not available.
XM vs. Markets.com: Markets and products
Markets.com XM
Stocks Yes Yes
ETFs No No
Forex Yes Yes
Funds No No
Bonds No No
Options No No
Futures No No
CFDs Yes Yes
Crypto Yes No

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67% of retail CFD accounts lose money

Verdict

Markets.com is a CFD broker regulated by more authorities globally, including the top-tier FCA and ASIC.

Account opening is seamless and fast, it has good research tools and great customer service and is regulated by multiple top-tier financial regulators, like the UK's FCA and ASIC in Australia.

On the other hand, forex trading fees are high and product selection covers mostly CFDs and forex. We also missed some important features on the trading platforms, like two-step authentication and price alerts on the web.

All in all, Markets.com is a good choice. As the account opening is super easy, 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 2.7 stars
Recommended for Traders looking to venture into CFD trading

Visit broker More
67% of retail CFD accounts lose money

XM alternatives
XM

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

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).

Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 78.28% 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 great account opening

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

Fees
3.8

XM has low trading fees for CFDs and charges no withdrawal fee. On the other hand, forex and stock index fees are only average, and there is a fee for inactivity.
Pros Cons
No withdrawal fee Inactivity fee
Low stock CFD fees Average FX fees
XM alternatives trading fees
XM FxPro FXTM FP Markets Markets.com
S&P 500 index CFD fee $1.7 $2.7 $2.2 $0.0 $3.5
Europe 50 index CFD fee $2.5 $2.6 $2.4 $1.8 $2.0
EURUSD benchmark fee $9.5 $8.8 $8.3 $5.7 $11.5
GBPUSD benchmark fee $7.5 $7.1 $7.0 $4.6 $11.7

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

Account opening
5.0

XM account opening is hassle-free and straightforward. You may be able to start using 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 FxPro FXTM FP Markets Markets.com
Minimum deposit $5 $100 $50 $100 $100
Time to open account 1 day 1 day 1 day 1 day 1 day

Learn more about XM minimum deposit here.

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 FxPro FXTM FP Markets Markets.com
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card Yes Yes Yes Yes Yes
Electronic wallets Yes Yes Yes Yes Yes
Withdrawal fee $0 $0 $3 $0 $0

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 FxPro FXTM FP Markets Markets.com
Web platform score 2.8 stars 2.8 stars 2.8 stars 2.8 stars 3.8 stars
Mobile platform score 3.8 stars 3.8 stars 3.8 stars 3.8 stars 4.3 stars
Desktop platform score 3.4 stars 3.4 stars 3.4 stars 3.4 stars 3.4 stars

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

Markets and products
2.5

CFDs and forex are available for all clients, but real stocks only for clients under the IFSC-regulated entity. Popular asset classes, like real ETFs, bonds or options are missing.
XM and alternatives markets and products
XM FxPro FXTM FP Markets Markets.com
Stocks Yes No Yes Yes Yes
ETFs No No No No No
Forex Yes Yes Yes Yes Yes
Funds No No No No No
Bonds No No No No No
Options No No No No No
Futures No No No No No
CFDs Yes Yes Yes Yes Yes
Crypto No Yes No Yes Yes

Verdict

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

On the plus side, we liked the low stock 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 forex and CFDs. Its forex and stock index CFD 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 great account opening

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 great account opening
FxPro Global CFD and forex broker Forex and CFD traders looking for a broker with great account opening and familiar with MetaTrader platform
FXTM Global CFD and forex broker Forex traders familiar with the MetaTrader platform
FP Markets Australian CFD and forex broker Forex and CFD traders familiar with MetaTrader and IRESS trading platforms
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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77% of retail CFD accounts lose money
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67.02% of retail CFD accounts lose money
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67% of retail CFD accounts lose money
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