XM versus FP Markets

The upgraded MT4/MT5 platforms at FP Markets, consisting of twelve plugins and Autochartist, plus the MAM/PAMM modules for asset managers, create a competitive environment for manual, algorithmic, and copy traders. The geographically restricted Iress trading platform, primarily for equity traders, is also available, while FP Markets deploys its proprietary social trading service and Myfxbook Autotrade.

Traders at XM get upgraded MT4/MT5 platforms and one of the most efficient order execution environments, mostly without requotes or rejections, confirming deep liquidity. XM ranks among the most accessible brokers with a $5 minimum deposit requirement and offers generous bonuses and trading incentives, plus quality trading tools.

We have conducted an in-depth review of FP Markets and XM to determine which presents the better overall choice and which traders will benefit the most at either broker.

Features and Platforms

Features & PlatformsFP Markets (visit site)XM (visit site)
Established :
Retail Loss Rate:
Minimum Deposit:
Demo Account:
Managed Account:
Islamic Account:
Inactivity Fee
No$5 monthly after 90 days
Deposit Fee:
Withdrawal Fee
Funding Methods:
Proprietary Platform:
Automated Trading:
Social / Copy Trading:
MT4/MT5 Add-ons:
Guaranteed Stop Loss:
Negative Balance Protection:
Bonuses and Promotions:
Unique Feature One:
VPS HostingLow trading costs
Unique Feature Two:
MT4/MT5 plugins + AutochartistExcellent order execution
Broker Offers:


Both offer quality education and research for beginners, but XM has more resources. FP Markets offers VPS hosting for algorithmic traders, and XM rewards active traders with a loyalty program.

Available Markets

Available MarketsFP MarketsXM
Currency Pairs:
Cryptocurrency Pairs:
Commodities and Metals:
Options, Futures, and Synthetics:
Maximum Retail Leverage:
Maximum Pro Leverage:

While FP Markets lists 10,000+ equity CFDs, they require the geographically restricted Iress platform. All MT4/MT5 traders get 1,300+ trading instruments at XM and 1,000+ at FP Markets for MT5, notably fewer for MT4. Forex traders get an equal number of currency pairs in all FP Markets trading platforms and at XM.

Typical Spreads and Fees

Typical Spreads & FeesFP MarketsXM
Minimum Raw Spreads:
0.0 pipsNot applicable
Minimum Standard Spreads:
1.0 pips0.6 pips
Minimum Commission for Forex:
$6.00 per Round LotCommission-free
Commission for Equities:
0.10% with $10 minimumCommission-free
Execution Type:
No Dealing Desk (NDD)Market Maker

The commission-based FP Markets account and the commission-free XM alternative provide equal core trading costs for Forex traders. It starts with a competitive $6.00 per round lot, but XM has a volume-based rebate program. Equity traders must compare fess on an asset basis to locate cost advantages.

Security and Trust

FP Markets

Country of the RegulatorName of the RegulatorLicense Number
Cyprus Securities and Exchange Commission371/18
Australian Securities & Investments Commission286354
St. Vincent and the Grenadines
Financial Services AuthorityUnregulated


Country of the RegulatorName of the RegulatorLicense Number
International Financial Services Commission000261/158
Australian Securities & Investments Commission443670
Securities Commission of The BahamasSIA-F201
Cyprus Securities and Exchange Commission120/10 and 256/14
Financial Conduct Authority705428
Dubai Financial Services AuthorityF003484
Commodity Futures Trading Commission / National Futures AssociationNFA #0516820

XM complies with more regulators, and FP Markets caters to most traders from its unregulated but duly registered St. Vincent and the Grenadines subsidiary. Both are among the most secure and trusted brokers, and they segregate client deposits from corporate funds, offer negative balance protection, and maintain a spotless regulatory record.

FP Markets vs XM – Verdict

FP Markets

Choice of trading platforms and auxiliary trading tools Availability of Iress geographically restricted
Very competitive cost structure and excellent asset selectionLimited commodities and metals selection
Low minimum deposit requirement and leverage of up to 1:500
Well-regulated and trustworthy


A well-balanced overall asset selection Limited cryptocurrency selection
Upgraded MT4/MT5 trading accounts with excellent order execution statistics
Low minimum deposit of $5 and maximum leverage of 1:888
Competitive commission-free trading costs from $5.00 per 1.0 standard lot

XM and FP Markets upgrade their MT4/MT5 platforms, where the latter has more plugins, but the former features lower costs due to its volume-based rebate program, and both have access to deep liquidity. MT4/MT5 traders get a balanced asset selection at XM, but FP Markets presents an overall better choice due to MAM/PAMM modules for asset managers, VPS hosting, and social trading services.

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