TPFx vs XM Forex Broker Comparison
A head-to-head comparison of TPFx and XM across regulation, trading costs, platforms, and editorial scoring.
A fully BAPPEBTI-licensed and OJK-registered Indonesian broker, offering domestic traders compliant access to forex and commodity futures markets.
VS
Our Verdict
XM winsClear Winner
XM comes out ahead with an editorial score of 4.3/5 compared to TPFx's 3.7/5.
XM
4.3/5
TPFx
3.7/5
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
XM offers tighter spreads from 0.6 pips vs 1.5 pips for TPFx, reducing trading costs.
Best for safety & regulation
Recommended
XM has a stronger safety profile: top-tier regulation, compensation scheme, segregated funds, negative balance protection.
Best for active traders
It's a tie
Both equally suited
Both brokers offer equivalent trading costs across spreads, commissions, and account types.
Best for platform choice
Recommended
TPFx offers more exclusive platform options: Proprietary Web/Mobile, a proprietary platform.
Best for beginners
Recommended
XM edges out TPFx with a higher editorial score (4.3/5 vs 3.7/5), indicating a stronger overall experience for new traders.
TPFx vs XM: Side-by-Side Forex Broker Comparison
Score
= highlighted score shows which broker leads in that category| Editorial score | 3.7/ 5 | 4.3/ 5 |
|---|---|---|
| Score Breakdown | ||
Trust & Regulation 40% weight | 3.7 / 5 | 4.3 / 5▲ |
Fees & Spreads 30% weight | 3.7 / 5 | 4.3 / 5▲ |
Platforms & Tools 20% weight | 3.7 / 5 | 4.2 / 5▲ |
Customer Support 10% weight | 3.7 / 5 | 4.4 / 5▲ |
| Founded | 2010 | 2009 |
| Headquarters | Jakarta, Indonesia | Limassol, Cyprus |
| Min deposit | $60 | $5 |
| Spreads from | 1.5 pips | 0.6 pips |
| Commission / lot | N/A | N/A |
| Max leverage | 100:1 | 1000:1 |
| Withdrawal fee | Free | Free for most methods |
| Regulators | BAPPEBTI OJK | ASIC ASF CySEC FSC KNF |
| Platforms | MetaTrader 5 Proprietary Web/Mobile | MetaTrader 4 MetaTrader 5 |
| Active bonuses | ||
| Visit broker | Visit TPFx | Visit XM |
TPFx vs XM Forex Broker Pros & Cons
Pros
BAPPEBTI-licensed and OJK-registered - full Indonesian regulatory compliance
OJK registration no. S-130/PM.02/2025 is publicly verifiable
Supports MetaTrader 5 alongside proprietary platform
Local Indonesian bank transfer funding with IDR accounts
Client funds held in segregated accounts
Raw spread account available
No deposit fees
No inactivity fee
Mobile trading app available
Transparent pricing with clear cost disclosure
24/5 live chat support
Phone support available
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
Only available to Indonesian residents - no international clients
Higher minimum deposit than some domestic peers
Narrow product range limited to forex and commodity futures
No top-tier regulatory licence
No negative balance protection
No investor compensation scheme
Limited charting capabilities
Support available in limited languages
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
TPFx vs XM: Detailed Category Breakdown
A closer look at the specific criteria each broker meets or misses within each scoring category.
3
TPFx
criteria wins
5
XM
criteria wins
Highlighted rows show where the two brokers differ
| Criteria | TPFx | XM |
|---|---|---|
| Trust & Regulation | ||
| Top-tier regulator (FCA, ASIC, CFTC, etc.) | Fail | Pass |
| Segregated client funds | Pass | Pass |
| Negative balance protection | Fail | Pass |
| Compensation scheme (e.g. FSCS) | Fail | 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 | Fail | Pass |
| Customer Support | ||
| 24/5 live chat | Pass | Pass |
| Phone support | Pass | Pass |
| Multilingual support | Fail | Pass |
TPFx vs XM: Frequently Asked Questions
Based on our independent editorial scoring, XM ranks higher with a score of 4.3/5 vs 3.7/5 for TPFx. The best choice still depends on your individual trading needs; TPFx and XM may each suit different trader profiles.
XM offers tighter spreads starting from 0.6 pips, compared to TPFx's spreads from 1.5 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 TPFx requires at least $60. This makes XM more accessible for traders with limited starting capital.
XM holds top-tier regulation (ASIC, ASF, CySEC), providing stronger investor protections. TPFx may be regulated but does not hold top-tier status in our data. Always verify regulatory status with the broker directly before depositing funds.
For beginners: XM has a lower minimum deposit ($5), lowering the barrier to entry; XM offers negative balance protection, capping losses at your deposit amount. Also weigh up educational resources and customer support quality before deciding.
TPFx offers maximum leverage of 100:1, 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.
TPFx supports MetaTrader 5, Proprietary Web/Mobile and XM offers MetaTrader 4, MetaTrader 5; both support MetaTrader 5; TPFx exclusively offers Proprietary Web/Mobile; XM exclusively offers MetaTrader 4.
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Score 3.7 / 5
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