FXPro vs XM Compared: Who is the Better Broker?
Choosing a forex broker is one of the most critical decisions a trader makes on their journey toward financial independence or consistent profitability. It’s not just about the trading platform or the spreads; it’s about the overall trading experience, security, reliability, and the ecosystem that supports your trading endeavors. Today, we’ll dive deep into two prominent names in the forex brokerage world — FXPro and XM.
This comparison isn’t superficial. It’s crafted from a seasoned trader’s perspective, trying to highlight every facet that matters: regulation, trading conditions, platform offerings, customer support, educational resources, and more. Whether you’re a novice or an experienced trader looking for the best fit, understanding the nuanced differences between FXPro and XM can make a significant difference in your trading journey.
Let’s start by understanding each broker’s background before proceeding to a comprehensive side-by-side comparison.
A Brief Overview of FXPro and XM
About FXPro
FXPro was founded in 2006 and quickly gained recognition as a reliable and innovative forex broker. Headquartered in London, the firm is well-regarded in the trading community for its transparency and customer-centric approach. FXPro operates globally and has obtained multiple regulatory licenses, which play a vital role in establishing trust.
FXPro is primarily known for offering forex, CFDs on indices, commodities, and cryptocurrencies, catering to both retail and institutional traders. It has built a reputation for high-quality trading platforms, including MetaTrader 4 and MetaTrader 5, as well as cTrader, and provides competitive trading conditions.
About XM
XM explicitly brands itself as a forex and CFD broker with a global outreach, especially strong in the Asia-Pacific, Europe, and the United States. Established in 2009, XM has rapidly grown, thanks to its focus on customer education, a wide product offering, and extensive trading accounts.
XM is regulated in multiple jurisdictions, including CySEC in Europe, ASIC in Australia, and others, which helps it serve different markets securely. Its offerings include forex, stocks, commodities, indices, and cryptocurrencies, with multiple account types designed to suit traders of every experience level.
Regulatory Environment & Security
FXPro Regulation and Trust
One of the first criteria for many traders is regulation. FXPro holds licenses from:
- FCA (Financial Conduct Authority) – UK
- CySEC (Cyprus Securities and Exchange Commission)
- FSCA (Financial Sector Conduct Authority) – South Africa
These licenses ensure the broker adheres to strict financial standards, including client fund segregation, transparency, and periodic audits. The FCA, in particular, is renowned for its high regulatory standards, which provides an added layer of security for UK clients.
FXPro’s regulation across multiple jurisdictions signals its commitment to operational transparency and security. It also offers negative balance protection and risk management tools aligned with regulatory standards, giving traders peace of mind.
XM Regulation and Security
XM is regulated by:
- CySEC (Cyprus) – European regulation
- ASIC (Australia) – Australian regulation
- FCA (UK) – Some of its subsidiaries are regulated here
Having licenses from both CySEC and ASIC suggests that XM operates under robust regulatory frameworks. Cyprus regulation (CySEC) is considered a solid regulatory body within the European Union, providing certain investor protections and financial safeguards.
Importantly, XM emphasizes client fund segregation, compliance with anti-money laundering (AML) policies, and robust cybersecurity measures. Its regulatory authority in multiple regions enables it to cater securely to traders in different markets.
Summary of Regulation and Trustworthiness
| Feature | FXPro | XM |
|---|---|---|
| Regulatory Licenses | FCA, CySEC, FSCA | CySEC, ASIC, FCA (subsidiaries) |
| Client Fund Segregation | Yes | Yes |
| Negative Balance Protection | Yes | Yes |
| Transparency & Regulatory Standards | High | High |
Bottom line: Both brokers showcase strong regulatory credentials. For traders in the US, however, regulatory compliance becomes trickier because US authorities have strict requirements. FXPro primarily operates offshore and doesn’t have a US license, so US traders may face restrictions. XM does not operate directly in the US market, so traders there should verify regional availability.
Trading Platforms & Technology
FXPro: Platforms and Technology
FXPro offers a diverse range of trading platforms:
- MetaTrader 4 (MT4) — The industry standard, offering reliability and a large community of traders.
- MetaTrader 5 (MT5) — The newer platform with added features like more order types and enhanced charting tools.
- cTrader — A platform favored for its intuitive interface and ECN-based trading.
FXPro’s platforms are renowned for their stability, speed, and advanced features. They also provide both desktop applications and mobile apps for iOS and Android, ensuring traders can engage with markets on the go.
XM: Platforms and Technology
XM primarily offers:
- MetaTrader 4 (MT4)
- MetaTrader 5 (MT5)
Both platforms are available on desktop, web, and mobile, with XM emphasizing their user-friendliness and reliability. XM also provides a proprietary web-based trading platform and a mobile app, suited for traders who prefer a custom interface.
Platform Features Comparison
| Features | FXPro | XM |
|---|---|---|
| MetaTrader 4 | Yes | Yes |
| MetaTrader 5 | Yes | Yes |
| cTrader | Yes | No |
| Proprietary Platform | No | No |
| Mobile Trading Apps | Yes | Yes |
Which Platform is Better?
This largely depends on your trading style:
- FXPro’s cTrader is ideal for scalpers and high-frequency traders who need sophisticated order execution and straightforward design.
- XM‘s emphasis on MetaTrader platforms aligns with most retail traders, especially those familiar with Expert Advisors (EAs) and automated trading.
In conclusion — for platform variety and advanced features, FXPro has a slight edge, especially with cTrader. But for simplicity and a broad community of users, XM’s MetaTrader offerings are more than sufficient.
Account Types & Trading Conditions
FXPro Account Types & Conditions
FXPro offers three primary account types:
- Standard Account — Fixed spreads, no commission, suitable for most retail traders.
- Pro Account — Variable spreads plus commission, designed for professional traders with higher trading volumes.
- ECN Account — Fast execution, raw spreads, and commissions, suitable for experienced traders.
Spreads & Commissions
- Typical spreads on EUR/USD: Starting 1.2 pip on Standard, as low as 0.0 pip on ECN.
- Commission: Up to $45 per lot on ECN.
Leverage
- Up to 1:500 for non-EU clients.
- Regulatory limits reduced in European jurisdictions.
Minimum Deposit
- Around $50, depending on the account type.
XM Account Types & Conditions
XM offers:
- Micro Account — For beginners, with micro lots.
- Standard Account — Fixed spreads, no commission.
- XM Zero Account — Very low spreads (as low as 0.1 pip) with commission.
Spreads
- EUR/USD: Typically 1.0 pip on standard accounts, less than 0.1 pip on XM Zero.
- No requotes and fast execution.
Leverage
- Up to 1:30 in Europe, but higher in other regions (up to 1:500), depending on local regulations.
Minimum Deposit
- As low as $5 for micro accounts.
Which Offers Better Trading Conditions?
- Spread & Cost: XM Zero’s ultra-low spreads make it attractive for scalpers and high-frequency traders.
- Account Flexibility: Both brokers offer multiple account types, though FXPro’s ECN account is more suited for institutional traders.
- Leverage: Both brokers offer similar leverage options, but US traders should note restrictions.
Additional Considerations
- Deposit & Withdrawal Options: Both brokers support major credit cards, bank wire, and e-wallets like Neteller and Skrill, with minimal processing fees.
- Trade Sizes: Both brokers accept micro lots, facilitating smaller trade sizes for beginners.
Cost and Fees Comparison
| Criterion | FXPro | XM |
|---|---|---|
| Spreads | Starting 1.2 pip (standard) | Starting 1.0 pip (standard) |
| Commission | Up to $45/lot (ECN) | Up to $7/lot (XM Zero) |
| Swap Fees | Competitive, varies | Competitive, varies |
| Withdrawal Fees | Minimal/none | Minimal/none |
| Minimum Deposit | $50 | $5 |
Overall: XM tends to have slightly lower-cost options for small traders, especially with its micro accounts, while FXPro’s ECN accounts can be more cost-effective for high-volume traders.
Education and Customer Support
FXPro: Educational Resources & Support
FXPro offers:
- Webinars, live trading sessions, and in-depth tutorials.
- Research tools including market analysis, news feeds, and economic calendars.
- Dedicated customer support available via chat, email, and phone in multiple languages.
XM: Educational Resources & Support
XM is well-known for:
- Extensive educational material including courses, webinars, videos, and e-books.
- Regular market analysis and daily commentary.
- Multichannel support, with a focus on multilingual assistance.
Customer Support Comparison
Both brokers excel in customer service, with 24/5 support availability. XM’s educational resources are more comprehensive, appealing to beginner traders.
Additional Features & Offerings
Bonuses and Promotions
- FXPro does not typically offer deposit bonuses to avoid regulatory conflicts but offers occasional promotions.
- XM has a history of generous bonuses for new depositors, though these are region-dependent.
Account Security & Privacy
Both brokers use robust encryption protocols and adhere to strict data protection regulations, safeguarding your personal and financial information.
Trading Discipline Tools & Risk Management
Both FXPro and XM provide risk management tools such as stop-loss, take-profit, negative balance protection, and margin alerts.
The Final Verdict: Who’s Better?
Determining the better broker depends largely on your trading style, experience level, and region of operation.
- If you prioritize advanced trading platforms (cTrader), low spreads, and professional accounts, FXPro is a compelling choice.
- If you are more cost-conscious, appreciate educational resources, and prefer MetaTrader platforms, XM is an excellent pick.
Regulatory and security considerations are strong points for both. However, for US traders or residents, the choice becomes more nuanced due to regional regulations, and neither broker may directly serve US-based retail traders.
Frequently Asked Questions (FAQs)
1. Are FXPro and XM suitable for beginners?
XM is often considered more beginner-friendly due to its extensive educational resources, micro accounts, and community support. FXPro caters more to traders with some experience, especially those utilizing advanced platforms like cTrader.
2. Which broker offers better leverage?
Both brokers offer high leverage—up to 1:500—but leverage in the US is restricted. Traders should always verify regional leverage limits before opening an account.
3. Do FXPro and XM have demo accounts?
Yes, both brokers offer free demo accounts with virtual funds, allowing traders to practice before risking real money.
4. Can I trade cryptocurrencies with these brokers?
Both brokers offer cryptocurrency CFDs, but actual crypto trading (via wallets or exchanges) isn’t available; they facilitate derivative trading on digital assets.
5. How do the withdrawal processes compare?
Both brokers process withdrawals promptly, via bank transfer, e-wallets, and credit cards. Be aware of regional processing times and possible fees.
6. Which broker is more regulated?
Both are well-regulated, but FXPro’s licenses in the UK and South Africa might appeal more to those seeking high regulatory standards. XM’s licenses provide strong regulatory oversight in Europe and Australia.
7. Are there any regional restrictions?
Yes. US traders frequently face restrictions on offshore brokers. Always verify whether the broker accepts traders in your jurisdiction.
Final Thoughts
The choice between FXPro and XM hinges on your individual requirements, trading approach, and region. Both have cultivated strong reputations, and each excels in different areas:
- For platform diversity and advanced trading conditions, FXPro is superior.
- For cost-efficiency, extensive educational tools, and user-friendly environments, XM shines.
The most important factor is aligning your needs with what each broker offers, ensuring a safe, compliant, and supportive trading environment. Always perform due diligence before opening an account, consider demo testing, and prioritize security and regulation above all.
Remember, no matter which broker you choose, success in trading comes from continuous learning, disciplined strategies, and managing risk effectively. Good luck on your trading journey — may you find the broker that truly supports your ambitions.