FXCM vs XM Forex Broker Comparison
A head-to-head comparison of FXCM and XM across regulation, trading costs, platforms, and editorial scoring.
Our Verdict
XM winsby 0.2 pts
XM edges ahead with a score of 4.3/5 vs FXCM's 4.1/5. A narrow margin, so review the breakdown below to see where each broker has a clear advantage.
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
FXCM offers tighter spreads from 0.4 pips vs 0.6 pips for XM, reducing trading costs.
Best for safety & regulation
It's a tie
Both equally suited
Both brokers show an equally strong safety profile across regulation, fund protection, and client safeguards.
Best for platform choice
Recommended
FXCM offers more exclusive platform options: Proprietary Web/Mobile, NinjaTrader, a proprietary platform.
Best for beginners
Recommended
XM edges out FXCM with a higher editorial score (4.3/5 vs 4.1/5), indicating a stronger overall experience for new traders.
FXCM vs XM: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.1/ 5 | 4.3/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.1 / 5 | 4.3 / 5▲ |
Fees & Spreads 30% weight | 4.2 / 5 | 4.3 / 5▲ |
Platforms & Tools 20% weight | 4.2 / 5 | 4.2 / 5 |
Customer Support 10% weight | 4.0 / 5 | 4.4 / 5▲ |
| Founded | 1999 | 2009 |
| Headquarters | London, United Kingdom | Limassol, Cyprus |
| Min deposit | $50 | $5 |
| Spreads from | 0.4 pips | 0.6 pips |
| Commission / lot | N/A | N/A |
| Max leverage | 400:1 | 1000:1 |
| Withdrawal fee | Free for first per month | Free for most methods |
| Regulators | FCA ASIC | ASIC CySEC ASF FSC KNF |
| Platforms | MetaTrader 4 Proprietary Web/Mobile NinjaTrader | MetaTrader 4 MetaTrader 5 |
| Active bonuses | ||
| Visit broker | Visit FXCM | Visit XM |
FXCM vs XM Forex Broker Pros & Cons
Pros
Strong APIs (REST, FIX)
Trading Station + MT4
FCA regulated
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
No deposit fees
MetaTrader 4 and MetaTrader 5 supported
Mobile trading app available
Proprietary trading platform available
Advanced charting tools included
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
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
Cons
Withdrew from US market in 2017
No raw spread account option
Inactivity fee applies
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
FXCM vs XM: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
1
FXCM
criteria win
0
XM
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | FXCM | 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 | Fail | Fail |
| No deposit fee | Pass | Pass |
| No inactivity fee | Fail | Fail |
| Transparent pricing page | Pass | Pass |
| Platforms & Tools | ||
| MT4/MT5 available | Pass | Pass |
| Proprietary platform | Pass | 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 |
FXCM vs XM: Frequently Asked Questions
Based on our independent editorial scoring, XM ranks higher with a score of 4.3/5 vs 4.1/5 for FXCM. The best choice still depends on your individual trading needs; FXCM and XM may each suit different trader profiles.
FXCM offers tighter spreads starting from 0.4 pips, compared to XM's spreads from 0.6 pips. Tighter spreads lower the cost per trade, particularly valuable for high-frequency and scalping strategies.
XM has a lower minimum deposit of $5, while FXCM requires at least $50. This makes XM more accessible for traders with limited starting capital.
Both FXCM and XM hold licences from top-tier regulators, indicating a high standard of regulatory oversight. Both are considered safe. Check each broker's specific regulatory bodies to confirm coverage in your jurisdiction.
For beginners: XM has a lower minimum deposit ($5), lowering the barrier to entry; both brokers offer negative balance protection. Also weigh up educational resources and customer support quality before deciding.
FXCM offers maximum leverage of 400:1, while XM offers up to 1000:1. Available leverage varies by account type, instrument, and jurisdiction. Higher leverage amplifies both potential profits and losses. Always use appropriate risk management.
FXCM supports MetaTrader 4, Proprietary Web/Mobile, NinjaTrader and XM offers MetaTrader 4, MetaTrader 5; both support MetaTrader 4; FXCM exclusively offers Proprietary Web/Mobile, NinjaTrader; XM exclusively offers MetaTrader 5.
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Score 4.1 / 5
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