FXOpenvs
XMForex Broker Comparison
In this head-to-head, FXOpen and XM square off on trust, costs, and platform coverage. The axis of tension centers on instrument breadth and fee structure.
Our Verdict
Too close to call0.1 pts apart
FXOpen and XM are closely matched overall, you see XM's larger instrument universe as the main differentiator.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1XM offers 1400 instruments versus FXOpen's 700.
- 2FXOpen provides raw spreads; XM does not.
- 3FXOpen has no phone support; XM offers phone support.
Who should choose FXOpen vs XM?
Find out which broker best suits your trader profile.
Choose FXOpen if…
You can choose FXOpen if you want ECN pricing with $3/lot commissions and access to raw spreads. FXOpen has no phone support. You can choose XM if you value phone support and a high leverage up to 1000:1 with 1400 instruments. XM applies an inactivity fee.
Choose XM if…
You can choose FXOpen if you want ECN pricing with $3/lot commissions and access to raw spreads. FXOpen has no phone support. You can choose XM if you value phone support and a high leverage up to 1000:1 with 1400 instruments. XM applies an inactivity fee.
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
FXOpen offers tighter spreads from 0.00 pips vs 0.60 pips for XM, reducing trading costs.
Best for safety & regulation
FXOpen vs XM: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.2/ 5 | 4.3/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.5 / 5▲ | 4.3 / 5 |
FXOpen vs XM Forex Broker Pros & Cons
Pros
FCA, CySEC, and ASIC triple regulation
$3 round-turn ECN commission, one of the lowest in retail forex
Early cTrader adopter with mature integration
MT4, MT5, and cTrader all available
Client funds held in segregated accounts
FXOpen vs XM: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
2
FXOpen
criteria wins
1
XM
criteria win
Highlighted rows show where the two brokers differ
| Criteria | FXOpen | 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 | Fail | Pass |
| Multilingual support | Pass | Pass |
FXOpen vs XM: Frequently Asked Questions
The scores are close: FXOpen rates 4.2/5 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.
FXOpen 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 FXOpen requires at least $100. This makes XM more accessible for traders with limited starting capital.
Both FXOpen 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.
FXOpen 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.
FXOpen charges $3 per lot on commission-based accounts. Commission details for XM are not currently available. Check their website for up-to-date pricing.
FXOpen supports cTrader, MetaTrader 5, MetaTrader 4, while XM supports MetaTrader 5, MetaTrader 4. Both provide MetaTrader 5 and MetaTrader 4. FXOpen has exclusive access to cTrader.
