ThinkMarketsvs
XMForex Broker Comparison
ThinkMarkets and XM face off in a head-to-head comparison focused on regulation, costs, and platforms. The tension centers on pricing access and platform choice.
Our Verdict
Too close to call0.1 pts apart
ThinkMarkets and XM are closely matched. ThinkMarkets offers raw spreads not available from XM.
No commercial relationship. The verdict and scores are entirely editorial. No payment influences this comparison.
Key Differences
- 1ThinkMarkets offers raw spreads not available with XM.
- 2ThinkMarkets provides 4000 tradable instruments versus XM's 1400.
- 3ThinkMarkets runs a proprietary platform in addition to MT4/MT5.
Who should choose ThinkMarkets vs XM?
Find out which broker best suits your trader profile.
Choose ThinkMarkets if…
Choose ThinkMarkets if you want raw spreads and a proprietary platform.
Choose XM if…
Choose XM if you want a low minimum deposit and a broad bonus program.
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
ThinkMarkets offers tighter spreads from 0.40 pips vs 0.60 pips for XM, reducing trading costs.
Best for safety & regulation
It’s a tie
Both equally suited
ThinkMarkets 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 | 4.3 / 5 | 4.3 / 5 |
ThinkMarkets vs XM Forex Broker Pros & Cons
Pros
No minimum deposit on standard ThinkForex account
ThinkTrader proprietary app is well-reviewed for mobile trading
JFSA regulation for Japanese clients
Strong multi-region regulatory coverage
Regulated by top-tier authorities (FCA, ASIC, CySEC)
ThinkMarkets vs XM: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
3
ThinkMarkets
criteria wins
0
XM
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | ThinkMarkets | 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 | 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 |
ThinkMarkets vs XM: Frequently Asked Questions
The scores are close: ThinkMarkets 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.
ThinkMarkets starts from 0.4 pips, tighter than XM's 0.6 pips. Tighter spreads lower the cost per trade, which matters most for high-frequency and scalping strategies.
ThinkMarkets has no minimum deposit, while XM requires at least $5. This makes ThinkMarkets more accessible for traders with limited starting capital.
Both ThinkMarkets 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: ThinkMarkets has no minimum deposit, removing the capital barrier entirely, and both brokers provide negative balance protection. Also compare demo account availability and educational resources before deciding.
ThinkMarkets 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.
ThinkMarkets charges $7 per lot on commission-based accounts. Commission details for XM are not currently available. Check their website for up-to-date pricing.
ThinkMarkets supports MetaTrader 5, Proprietary Web/Mobile, TradingView, MetaTrader 4, while XM supports MetaTrader 5, MetaTrader 4. Both provide MetaTrader 5 and MetaTrader 4. ThinkMarkets has exclusive access to Proprietary Web/Mobile and TradingView.
