FP Marketsvs
XMForex Broker Comparison
In this comparison, FP Markets and XM clash on regulation, pricing, and platform access. The axis centers on cost clarity versus platform breadth.
Our Verdict
FP Markets winsby 0.2 pts
FP Markets edges XM with an editorial score of 4.5/5 to 4.3/5, making FP Markets the higher-rated choice.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1FP Markets offers raw spreads from 0 pips with $6/lot.
- 2FP Markets provides around 10,000 instruments.
- 3XM requires a $5 minimum deposit.
Who should choose FP Markets vs XM?
Find out which broker best suits your trader profile.
Choose FP Markets if…
Choose FP Markets if you want raw spreads from 0 pips and access to about 10,000 instruments.
Choose XM if…
Choose XM if you prefer a $5 minimum deposit.
Verdict by Trader Profile
Which broker wins for each type of trader, based on costs, safety, platforms, and editorial scoring.
Best for low cost trading
Recommended
FP Markets offers tighter spreads from 0.00 pips vs 0.60 pips for XM, reducing trading costs.
Best for safety & regulation
It’s a tie
Both equally suited
FP Markets vs XM: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.5/ 5 | 4.3/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.6 / 5▲ | 4.3 / 5 |
FP Markets vs XM Forex Broker Pros & Cons
Pros
True ECN pricing from 0.0 pips + $6 round-turn commission
Supports MT4, MT5, and cTrader, all three major platforms
IRESS platform for direct-access share CFD trading
Strong ASIC and CySEC regulation
Client funds held in segregated accounts
FP Markets vs XM: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
2
FP Markets
criteria wins
0
XM
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | FP Markets | XM |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Pass | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Pass | Pass |
| Compensation scheme (e.g. FSCS) | Pass | 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 | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
FP Markets vs XM: Frequently Asked Questions
The scores are close: FP Markets rates 4.5/5 and XM rates 4.3/5. FP Markets 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.
FP Markets 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.
XM has $5, while FP Markets requires at least $100. This makes XM more accessible for traders with limited starting capital.
Both FP Markets and XM hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners, two factors stand out: XM requires a lower minimum deposit ($5), lowering the barrier to entry, and both brokers provide negative balance protection. Also compare demo account availability and educational resources before deciding.
FP Markets lists maximum leverage of 500:1, 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.
FP Markets charges $6 per lot on commission-based accounts. Commission details for XM are not currently available. Check their website for up-to-date pricing.
FP Markets supports cTrader, IRESS, MetaTrader 5, TradingView, MetaTrader 4, while XM supports MetaTrader 5, MetaTrader 4. Both provide MetaTrader 5 and MetaTrader 4. FP Markets has exclusive access to cTrader and IRESS and TradingView.
