Alpari Internationalvs
XMForex Broker Comparison
Two established forex brands collide on regulation, costs, and platform depth, pitting Alpari International and XM against each other.
Find out which broker best suits your trader profile.
Choose if…
Choose Alpari International if you want access to raw spreads and no inactivity fee.
Choose if…
Choose XM if you want top-tier regulation, investor protection, and broad instrument access.
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Alpari International offers tighter spreads from 0.00 pips vs 0.60 pips for XM, reducing trading costs.
| Editorial score | 3.9/ 5 | 4.3/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 3.7 / 5 | 4.3 / 5▲ |
Pros
26-year brand history in retail forex
Mature PAMM investor platform, one of the originals
ECN accounts with $6 per-lot commission competitive with top ECN desks
Wide geographic reach across CIS, MENA, and Africa
Client funds held in segregated accounts
A closer look at the specific criteria each broker meets or misses within each scoring category.
| Criteria | Alpari International | XM |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Fail | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Fail | Pass |
| Compensation scheme (e.g. FSCS) | Fail | Pass |
| Fees & Spreads | ||
| Raw/ECN spreads available | Pass | Fail |
| No deposit fee | Pass | Pass |
| No inactivity fee | Pass | Fail |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Fail | Fail |
| Mobile app | Pass | Pass |
| Advanced charting tools | Fail | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
The scores are close: Alpari International rates 3.9/5 and XM rates 4.3/5. XM has a marginal edge in our scoring, but the difference is small enough that your specific priorities — fees, platforms, or regulatory jurisdiction — should guide the final choice.
Alpari International starts from 0 pips, tighter than XM's 0.6 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
Both Alpari International and XM require a minimum deposit of $5 to open a live trading account.
XM holds top-tier regulation (ASIC, CySEC, ASF), providing stronger investor protections. Alpari International may be regulated but does not hold top-tier status in our data. Verify regulatory status on each regulator's public register before depositing funds.
For beginners, XM provides negative balance protection, capping losses at your deposit amount. Also compare demo account availability and educational resources on each broker's site before deciding.
Alpari International lists maximum leverage of 1000:1, while XM lists up to 1000:1. Available leverage depends on your jurisdiction. EU retail clients under ESMA rules are capped at 1:30 on major forex pairs.
Alpari International charges $6 per lot on commission-based accounts. Commission details for XM are not currently available. Check their website for up-to-date pricing.
Alpari International supports MetaTrader 5, MetaTrader 4, while XM supports MetaTrader 5, MetaTrader 4. Both provide MetaTrader 5 and MetaTrader 4.
XM leads in safety & regulation thanks to top-tier authorities and investor protection.
XM wins for active traders due to advanced charting tools and wide instrument access.
Alpari International is better suited for scalpers: raw/ECN spreads available, tighter spreads from 0.00 pips.
XM wins for beginners due to strong educational content.
XM wins for instrument variety with 1,400 available instruments.
Equally matched; both provide MT4 and MT5 and no proprietary platform.
Fees & Spreads 30% weight | 4.1 / 5 | 4.3 / 5▲ |
|---|
Platforms & Tools 20% weight | 3.9 / 5 | 4.2 / 5▲ |
|---|
Customer Support 10% weight | 3.8 / 5 | 4.4 / 5▲ |
|---|
| Founded | 1998 | 2009 |
|---|
| Headquarters | Port Louis, Mauritius | Limassol, Cyprus |
|---|
| Min Deposit | $5 | $5 |
|---|
| Spreads From | 0 pips▼ lower | 0.6 pips |
|---|
| Commission / lot | $6/lot | N/A |
|---|
| 0.6 pips | N/A |
| Max Leverage | 1,000:1 | 1,000:1 |
|---|
| Inactivity Fee | None | $5/month (after 90 days) |
|---|
| Deposit Fee | Free | Free |
|---|
| Deposit methods | Bank transferCredit cardDebit cardSkrillNetellerWebMoneyCrypto | Bank transferCredit cardDebit cardSkrillNeteller |
|---|
| Withdrawal methods | Bank transferCredit cardSkrillNetellerWebMoneyCrypto | Bank transferCredit cardSkrillNeteller |
|---|
| Withdrawal Fee | Free | Free for most methods |
|---|
| Regulators | FSC FSCA | ASIC CySEC ASF FSC KNF |
|---|
| Platforms | MetaTrader 5 MetaTrader 4 | MetaTrader 5 MetaTrader 4 |
|---|
| Active bonuses |
|---|
Raw spread account available
No deposit fees
No inactivity fee
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Multilingual customer support
Pros
USD 5 minimum deposit
Strong bonus program
Multilingual support
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
Cons
FSC Mauritius licence, lower investor protection than FCA/ASIC/CySEC
Legacy of UK entity collapse in 2015 is a cautionary reference point
No top-tier regulatory licence for its core international client base
No negative balance protection
No investor compensation scheme
No proprietary platform
Cons
Spreads not as tight as ECN-style brokers
Not available to US clients
No raw spread account option
Inactivity fee applies
No proprietary platform
Two established forex brands collide on regulation, costs, and platform depth, pitting Alpari International and XM against each other.
XM leads on overall editorial score due to top-tier regulators and investor protection, including compensation schemes and negative balance protection. Alpari International lacks these protections.
No deposit fees
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Advanced charting tools included
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
Limited charting capabilities
Dig deeper into each broker’s features, fees, and regulation.
Score 3.9 / 5
Score 4.3 / 5
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