Interactive Brokers vs XM Forex Broker Comparison
A head-to-head comparison of Interactive Brokers and XM across regulation, trading costs, platforms, and editorial scoring.
Score 4.6 / 5
2 bonusesListed broker with global market access, lowest financing rates we benchmark, and the powerful TWS workstation.
VS
Our Verdict
Interactive Brokers winsby 0.3 pts
Interactive Brokers edges ahead with a score of 4.6/5 vs XM's 4.3/5. 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
Interactive Brokers offers tighter spreads from 0.2 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 active traders
Recommended
Interactive Brokers has a cost edge: raw/ECN spreads, tighter spreads from 0.2 pips.
Best for platform choice
Recommended
Interactive Brokers offers more exclusive platform options: Proprietary Web/Mobile, Trader Workstation (TWS), a proprietary platform.
Best for beginners
Recommended
Interactive Brokers edges out XM with a higher editorial score (4.6/5 vs 4.3/5), indicating a stronger overall experience for new traders.
Interactive Brokers vs XM: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 4.6/ 5 | 4.3/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 4.8 / 5▲ | 4.3 / 5 |
Fees & Spreads 30% weight | 4.6 / 5▲ | 4.3 / 5 |
Platforms & Tools 20% weight | 4.6 / 5▲ | 4.2 / 5 |
Customer Support 10% weight | 4.0 / 5 | 4.4 / 5▲ |
| Founded | 1978 | 2009 |
| Headquarters | Greenwich, United States | Limassol, Cyprus |
| Min deposit | No minimum | $5 |
| Spreads from | 0.2 pips | 0.6 pips |
| Commission / lot | $2/lot | N/A |
| Max leverage | 50:1 | 1000:1 |
| Withdrawal fee | First withdrawal/month free | Free for most methods |
| Regulators | FCA CMF FINRA SEC SEBI ASIC JFSA AMF DFSA NFA SFC IIROC CMVM CNV FSC CBI CNB MFSA | ASIC CySEC ASF FSC KNF |
| Platforms | Proprietary Web/Mobile Trader Workstation (TWS) | MetaTrader 4 MetaTrader 5 |
| Active bonuses | ||
| Visit broker | Visit Interactive Brokers | Visit XM |
Interactive Brokers vs XM Forex Broker Pros & Cons
Pros
Available to US residents
Lowest margin rates in industry
150+ global markets
Regulated by top-tier authorities (FCA, ASIC, CySEC)
Client funds held in segregated accounts
Negative balance protection
Investor compensation scheme coverage
Raw spread account available
No deposit fees
No inactivity fee
Mobile trading app available
Proprietary trading platform available
Advanced charting tools included
Transparent pricing with clear cost disclosure
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
Steeper learning curve on TWS
No MT4 / MT5
No MetaTrader support
No 24/5 live chat
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
Interactive Brokers vs XM: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
3
Interactive Brokers
criteria wins
2
XM
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | Interactive Brokers | 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 | Fail | Pass |
| Proprietary platform | Pass | Fail |
| Mobile app | Pass | Pass |
| Advanced charting tools | Pass | Pass |
| Customer Support | ||
| 24/5 live chat | Fail | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Pass | Pass |
Interactive Brokers vs XM: Frequently Asked Questions
Based on our independent editorial scoring, Interactive Brokers ranks higher with a score of 4.6/5 vs 4.3/5 for XM. The best choice still depends on your individual trading needs; Interactive Brokers and XM may each suit different trader profiles.
Interactive Brokers offers tighter spreads starting from 0.2 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.
Interactive Brokers has a lower minimum deposit of no minimum required, while XM requires at least $5. This makes Interactive Brokers more accessible for traders with limited starting capital.
Both Interactive Brokers 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: Interactive Brokers has a lower minimum deposit (no minimum), lowering the barrier to entry; both brokers offer negative balance protection. Also weigh up educational resources and customer support quality before deciding.
Interactive Brokers offers maximum leverage of 50:1, 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.
Interactive Brokers charges $2 per lot on commission-based accounts. Commission details for the other broker are not currently available. Check their website for up-to-date pricing.
Interactive Brokers supports Proprietary Web/Mobile, Trader Workstation (TWS) and XM offers MetaTrader 4, MetaTrader 5; Interactive Brokers exclusively offers Proprietary Web/Mobile, Trader Workstation (TWS); XM exclusively offers MetaTrader 4, MetaTrader 5.
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