Comparison of FXCM and XM
| Feature | FXCM | XM |
|---|---|---|
| Broker | ||
| Year Founded | 1999 | 2009 |
| Broker Type | STP, DMA | MM |
| Dealing | A-book | B-book |
| Execution | Market | Market |
| Regulation | FCA, ASIC, CySEC, FSCA, CIRO, ISA, SVGFSA | BFSC, CySEC, ASIC, DFSA |
| Platforms | MetaTrader 4 (MT4), Trading Station, TradingView | MetaTrader 4 (MT4), MetaTrader 5 (MT5) |
| Spread | ⮕ Average | ⬊ Low |
| Maximum Leverage | 1:1000 | 1:1000 |
| Minimum Deposit | $50 | $5 |
| Base Currencies | USD, EUR, GBP | USD, EUR, GBP, AUD, CHF, JPY, PLN, ZAR, SGD, HUF |
| Funding Methods | Bank Wire, Credit Card, Debit Card, Neteller, Skrill, PayPal | Bank Wire, Credit Card, Debit Card, FasaPay, Giropay, IDEAL, Jeton, Mobile Money, MuchBetter, Neteller, NganLuong, Paysafecard, Perfect Money, POLi, Przelewy24, Skrill, STICPAY, Trustly, China UnionPay, WebMoney |
| Inactivity Fee | $50 per year after 12 months | $15 after 12 months |
| Interest on Margin | ✖ | ✖ |
| Withdrawal Fee | ✖ | ✖ |
| Investor Protection | UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF) | Investor Compensation Fund (ICF) |
| Protection Size | £85 000 / €20 000 | €20 000 |
| Segregated Accounts | ✔ | ✔ |
| Negative Balance Protection | ✔ | ✔ |
| Guaranteed Stop Loss | ✖ | ✖ |
| Copy Trading | ✔ | ✔ |
| VPS | ✔ | ✔ |
| MAM/PAMM | ✖ | ✖ |
| Scalping Allowed | ✔ | ✔ |
| EAs/Robots | ✔ | ✔ |
| Depth of Market (DOM) | ✔ | ✔ |
| Tradable Assets (CFDs) | Currencies, Indices, Stocks, ETFs, Cryptocurrencies, Metals, Energies, Soft Commodities | Currencies, Indices, Stocks, Cryptocurrencies, Metals, Energies, Soft Commodities |
| Review | FXCM Review | XM Review |
About FXCM
FXCM (Forex Capital Markets) is a well-established forex broker that has been serving traders since 1999. Known for its commitment to innovation, FXCM provides a range of advanced trading platforms, including its proprietary Trading Station and third-party options like MetaTrader 4 (MT4) and NinjaTrader. The broker offers access to various trading instruments, including forex, indices, commodities, and cryptocurrencies, making it a versatile choice for traders of all experience levels. FXCM operates under the regulation of trusted authorities, such as the FCA, ASIC, and FSCA, ensuring a safe and transparent trading environment.
Pros
- Regulated by reputable authorities (FCA, ASIC, FSCA)
- Access to multiple trading platforms, including Trading Station, MT4, and TradingView
- No-dealing-desk execution for transparency and direct market access
- Comprehensive educational resources and market analysis tools
- Competitive spreads and flexible leverage options
- Wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies
- Strong focus on platform innovation and advanced tools
Cons
- Higher trading fees on some instruments compared to competitors
- Limited account types for specialized trading needs
- No support for MetaTrader 5 (MT5)
- Customer support may vary depending on the region
About XM
XM is a globally recognized forex and CFD broker established in 2009. Regulated by reputable financial authorities such as the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC), XM provides a secure and transparent trading environment. The broker offers access to over 1000 financial instruments, including forex pairs, commodities, indices, metals, and energies, catering to both novice and experienced traders. One of XM's standout features is its commitment to client education and support. The broker provides extensive educational resources like webinars, tutorials, and market analyses to help traders make informed decisions. With multiple account types, competitive spreads, and support for popular trading platforms like MetaTrader 4 and MetaTrader 5, XM aims to deliver a flexible and user-friendly trading experience tailored to individual needs.
Pros
- Regulated by reputable authorities
- Wide range of trading instruments
- Multiple account types
- Competitive spreads and leverage
- Comprehensive educational resources
- Advanced trading platforms
- Multilingual customer support
Cons
- Inactivity fees
- Restricted in certain countries
FXCM & XM Regulation
| Feature | FXCM | XM |
|---|---|---|
Companies | Stratos Markets Limited, Stratos Trading Pty. Limited, Stratos Europe Ltd (ex FXCM EU LTD), Stratos South Africa (Pty) Ltd, Friedberg Mercantile Group Ltd., Stratos Light Limited, Stratos Global LLC | XM Global Limited, Trading Point Of Financial Instruments Ltd, Trading Point of Financial Instruments Pty Limited, Trading Point MENA Limited |
Countries | United Kingdom, Australia, Cyprus, South Africa, Canada, Israel, Saint Vincent and the Grenadines | Belize, Cyprus, Australia, United Arab Emirates |
Regulators | FCA, ASIC, CySEC, FSCA, CIRO, ISA, SVGFSA | BFSC, CySEC, ASIC, DFSA |
Investor Protection | UK Financial Services Compensation Scheme (FSCS), Investor Compensation Fund (ICF) | Investor Compensation Fund (ICF) |
Investor Protection Size | £85 000 / €20 000 | €20 000 |
Publicly Traded | ||
Segregated Accounts | ||
Guaranteed Stop Loss | ||
Negative Balance Protection |
Account Types
| Account | FXCM | XM |
|---|---|---|
Market Maker Account | ||
| Account Name | — | Standard |
| Min Deposit | — | $5 |
| Lot Size | — | 0.01 |
| Spread Type | — | Floating |
| Execution | — | Market |
| Min Spread | — | 1.6 |
| Fee | — | No |
| Max Leverage | — | 1:1000 |
| Stop Out | — | 20% |
| Margin Call | — | 50% |
STP Account | ||
| Account Name | Standard | — |
| Min Deposit | $50 | — |
| Lot Size | 0.01 | — |
| Spread Type | Floating | — |
| Execution | Market | — |
| Min Spread | 1.2 | — |
| Fee | No | — |
| Max Leverage | 1:1000 | — |
| Stop Out | 100% | — |
| Margin Call | 100% | — |
Cent Account | ||
| Account Name | — | Micro |
| Min Deposit | — | $5 |
| Lot Size | — | 0.01 |
| Spread Type | — | Floating |
| Execution | — | Market |
| Min Spread | — | 1.6 |
| Fee | — | No |
| Max Leverage | — | 1:1000 |
| Stop Out | — | 20% |
| Margin Call | — | 50% |
| Additional Features | ||
| Demo Account | ||
| VIP Account | ||
| Swap-Free Account | ||
| Copy Trading | ||
| VPS | ||
| PAMM/MAM Accounts | ||
Funding and Fees
| Feature | FXCM | XM |
|---|---|---|
Base currencies | USD, EUR, GBP | USD, EUR, GBP, AUD, CHF, JPY, PLN, ZAR, SGD, HUF |
Deposit and withdrawal methods | Bank Wire, Credit Card, Debit Card, Neteller, Skrill, PayPal | Bank Wire, Credit Card, Debit Card, FasaPay, Giropay, IDEAL, Jeton, Mobile Money, MuchBetter, Neteller, NganLuong, Paysafecard, Perfect Money, POLi, Przelewy24, Skrill, STICPAY, Trustly, China UnionPay, WebMoney |
Inactivity fee | $50 per year after 12 months | $15 after 12 months |
Interest on margin | ||
Withdrawal fee |
Trading Platforms and Conditions
| Feature | FXCM | XM |
|---|---|---|
Trading Platforms | MetaTrader 4 (MT4), Trading Station, TradingView | MetaTrader 4 (MT4), MetaTrader 5 (MT5) |
Execution Speed | 28 ms | 0 ms |
Scalping | ||
Expert Advisors (EAs) | ||
Depth of Market (DOM) | ||
Spread | average | low |
Trading Assets
| Asset | FXCM | XM |
|---|---|---|
Currencies | 41 | 55 |
Indices | 15 | 50 |
Stocks | 3512 | 1307 |
Cryptocurrencies | 23 | 58 |
Bonds | 0 | 0 |
Metals | 3 | 3 |
Energies | 7 | 3 |
Soft Commodities | 4 | 8 |
ETFs | 280 | 0 |
Education and Analytics
| Feature | FXCM | XM |
|---|---|---|
Economic Calendar | ||
Indicators | ||
Robots | ||
Signals | ||
Autochartist | ||
Expert Analytics | ||
News Feed | ||
Education Articles | ||
Webinars | ||
Seminars |
Bonuses
| Bonus | FXCM | XM |
|---|---|---|
| Welcome Bonus | ||
| Is available | ||
| Size | — | 100%, up to $5000 |
| Details | — | Learn More |
Contests
| Feature | FXCM | XM |
|---|---|---|
| Live Contests | ||
| Is available | ||
| Contests List | — |
|
- StarterStart Balance: $500 · Prize Pool: $15000 · Period: WeeklyLearn More
- ProStart Balance: $1000 · Prize Pool: $30,000 · Period: WeeklyLearn More
Customer Support
| Contact | FXCM | XM |
|---|---|---|
Email | info@fxcmmarkets.com | support@xm.com |
Phone | +16462531401 | +5012236696 |
Facebook | ||
LinkedIn | — | |
YouTube | YouTube | YouTube |
Instagram | — | |
Twitter | ||
TikTok | — | TikTok |
Which Broker is Better?
After comparing FXCM and XM, XM comes out ahead as our overall pick. It ranks higher in our internal scoring and delivers a stronger balance of pricing (spreads/fees), platform experience, and product range. That said, the runner-up may still be a better fit if you prioritize specific needs—like a particular account type, funding method, or niche instruments. This is not financial advice; always choose a broker that matches your goals and local regulatory requirements.
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Andriy Bondarenko
Broker Analyst
Andriy is a seasoned expert in broker reviews with over a decade of experience in finance and trading. Under his leadership, the team produces in-depth and unbiased analyses of leading trading platforms.