Exness vs XM Comparison – 2024

Top Reasons to Choose Exness or XM

Following an in-depth comparative analysis, I found that Exness is well-suited for both beginner and professional traders. Beginners benefit from user-friendly proprietary platforms and zero inactivity fees, while professionals can take advantage of raw-spread trading accounts. Similarly, XM caters to beginner traders with live forex webinars and a low minimum deposit, while its dedicated in-house market research is tailored to the needs of intermediate traders.

Exness: Snapshot

Established in 2008 and headquartered in Cyprus, Exness is licensed by two Tier-1 regulators and eight authorities globally. The broker offers access to over 220 CFD markets through its proprietary Trading Terminal, Trade App, and the MT4 and MT5 platforms, along with five different account options.

Exness: Who is it For?

Exness is great for beginner traders, offering an easy-to-use Trading Terminal web platform, a mobile app, commission-free trading, and a wide range of educational resources. Professional traders can benefit from raw-spread trading accounts with spreads starting from 0.0 pips.

What Makes Exness Stand Out?

Exness stands out for being licensed by seven global regulators and offering over 90 forex pairs across five different trading accounts — well above the industry average. Additionally, professional traders can access extremely high leverage through the offshore entity regulated by the FSA in Seychelles.

XM: Snapshot

Founded in 2009, the XM Group operates through four global entities, two of which are licensed by Tier-1 regulators. The broker offers over 1,385 financial CFD instruments accessible via the MT4/MT5 platforms and the XM App. XM also provides market-leading research conducted by its in-house team.

XM: Who is it For?

XM primarily caters to novice traders seeking a wide range of financial instruments through commission-free accounts with low minimum deposits. The broker’s research team delivers trading ideas and live educational webinars five days a week. Additionally, its special reports are tailored to intermediate and advanced fundamental traders.

What Makes XM Stand Out?

XM stands out by offering live educational sessions that cover the latest financial news, expert opinions, market outlooks, and interactive Q&A segments. These daily sessions provide invaluable learning opportunities for traders of all experience levels.

Trust

Exness vs XM Trust and Regulation Comparison

Founded in 2008, Exness operates with two entities licensed by Tier-1 regulators, the FCA (UK) and CySEC (Cyprus). Additionally, it has two entities regulated by Tier-2 authorities, the FSCA (South Africa) and CMA (Kenya), and three entities governed by Tier-3 regulators. The Tier-1 regulated entities ensure the highest level of transparency regarding trading fees, terms, and the protection of client funds. Based on our research, we rate Exness as moderately trustworthy and stable, thanks to its 16-year operating history, multiple regulatory licenses, and membership in the Financial Commission.

Established in 2009, XM Group operates through four global entities. Two of these are licensed by Tier-1 regulators, CySEC (Cyprus) and ASIC (Australia), while one entity is regulated by a Tier-2 authority, the DFSA (Dubai). The fourth entity is overseen by a Tier-3 regulator, the IFSC (Belize). The Tier-1 regulated entities guarantee high transparency in trading terms and the protection of client capital. We concluded that XM is a reasonably safe choice for trading due to its authorization by two top-tier regulators, its commitment to a ‘best execution policy,’ and the transparency of its legal documents.

Fees

Exness vs XM Spreads, Fees and Commissions Comparison

Using the Exness commission-free Standard CFD account, we found that the EUR/USD spread averaged 1.0 pips during both the London and New York trading sessions, beating the industry average of 1.08 pips. However, spreads on the Standard account can vary, with some tighter than others. Lower spreads are available via the Professional accounts. Exness does not charge swap fees for most instruments and has no fees for deposits or withdrawals.

On the XM commission-free Standard Account, we observed that the EUR/USD spread averaged 1.3 pips during the London session and 1.4 pips during the US session, both higher than the industry average of 1.08 pips. Overall, XM’s Standard account fees are above average, while the Zero Account (raw spread) offers more competitive pricing. There are also no handling fees for deposits and withdrawals, but a $5 monthly inactivity fee is applied after 90 days of no activity.

For more options, you can also check out our list of the best forex brokers with the lowest spreads and lowest swap fees.

Platforms and Tools

Exness vs XM Trading Platforms Comparison

Exness offers feature-rich, user-friendly platforms. The Exness Terminal (web platform) and Trade App (mobile) are well-suited for beginner traders with easy navigation, but they also include advanced features like one-click trading, sentiment indicators, and Trading Central analysis. The MT4/MT5 platforms, with their steeper learning curve, cater to more advanced traders seeking algorithmic trading capabilities. A stand-alone social and copy trading platform is also available through the client portal.

XM offers the MT4 and MT5 platforms on desktop, web, and mobile devices, primarily catering to advanced traders with features like one-click and algorithmic trading. Beginner traders may find the web platform the most user-friendly. While the XM App allows for trading, it provides fewer technical analysis tools compared to the web version. Additionally, XM includes the MT4 Multiterminal for account managers and offers VPS hosting for low-latency trading.

Tradable Instruments

Exness vs XM Instruments Selection Comparison

Exness offers a more focused range of tradable instruments, ideal for beginners. This includes over 220 markets, covering forex, indices, cryptocurrencies, commodities, and stock CFDs. With 96 forex pairs — well above the industry average — it meets the needs of intermediate forex traders.

XM provides access to over 1,385 financial CFD instruments, including forex, commodities, indices, and stocks. While the 55 forex pairs offered are in line with the industry average, the broker stands out for its diverse range of other asset classes. This variety caters to both beginner forex traders and intermediate multi-asset traders.

Customer Support

Exness vs XM Customer Support Comparison

Exness provides 24/7 customer support in 8 languages via live chat, phone, and email. In our assessment, live chat offered the fastest connection and response time, while emails took around 24 hours for a reply. The customer support agents were helpful when tested with various questions, though we were unable to reach support via the phone.

XM offers customer support in over 25 languages through live chat, phone, and email. Support is available 24/5 in Australia, while European support operates from 07:00 to 16:00 GMT. Our interactions with XM’s customer support yielded professional and timely responses from each agent.

Research

Exness vs XM Research Tools Comparison

Exness provides a wide range of in-house and third-party research tools for both beginner and advanced traders on its web platform and mobile app. Trading signals from Trading Central cover forex, stocks, indices, and commodities, with the option to filter ideas by short-term or long-term outlooks. The Market News section in the client portal offers real-time updates from FXStreet, while the Exness blog features market news, analysis, and insights.

XM offers comprehensive, high-quality market research developed by its in-house team. This includes market analysis, videos, trading ideas, podcasts, and breaking news. Its news feed is powered by Reuters and Dow Jones. The in-house content caters to traders of all experience levels and covers technical analysis, forex previews, live webinars, and regularly published special reports.

Deposits & Withdrawals

Exness vs XM Deposit and Withdrawal Methods Comparison

Exness provides a wide range of fee-free deposit and withdrawal options, including bank wire transfers, credit/debit cards, Neteller, Skrill, Perfect Money, USDC, and USDT. The minimum deposit is $10, and processing times range from 30 minutes to 1 day, depending on the method.

XM offers fee-free deposits and withdrawals through bank wire transfers (for amounts over $200), Visa, Mastercard, Neteller, Skrill, and China Union Pay. While most deposits are processed instantly, wire transfers can take 2 to 5 business days. Withdrawals generally take 2 to 5 business days, though Neteller and Skrill are processed within 24 hours.

Account Types and Terms

Exness vs XM Account Types Comparison

Exness offers five main account types. The Standard and Standard Cent accounts cater to beginners, with zero commissions and a low minimum deposit of $10. The Raw Spread, Zero, and Pro accounts are tailored for professionals. The Raw Spread account offers spreads starting from 0.0 pips, with a $3.50 commission per lot, per side, and a higher minimum deposit of $200.

XM offers four account types. The Micro, Standard, and Ultra Low accounts feature commission-free trading with varying spreads. The Zero Account, designed for scalpers and short-term traders, charges a $3.50 commission per lot, per side but offers the lowest spreads. The Micro account, aimed at beginner traders, requires a low minimum deposit of $5 and offers commission-free trading.

Education

Exness vs XM Educational Content Comparison

Exness provides a comprehensive suite of educational materials for both beginner and advanced traders. While its content is somewhat limited, the Exness blog covers various trading strategies and platform guides through text-based articles. Additionally, the Exness YouTube channel offers live market outlooks and analyses through video content.

XM hosts a live education section featuring daily webinars in 19 languages, catering to traders of all levels. The schedule covers topics such as scalping techniques, buying and selling strategies, and live trading during the European and U.S. market sessions. XM also offers general trading courses and MT4 tutorials, with materials suitable for traders at all experience levels.

Our Methodology

Since 2011, FX Empire has developed a detailed methodology for evaluating CFD brokers, involving over 250 variables across nine crucial categories. Our team of experts, with deep industry knowledge, conducts live testing and research by interacting with the brokers directly. We check regulations, open accounts, test spreads, account costs, platform functionality, instrument variety, customer support reliability, and the quality of research and educational content. This granular analysis helps us identify each broker’s strengths and weaknesses, keeping our comparisons current with market trends and ensuring our guides meet traders’ needs.

We strive to evaluate each broker objectively, considering how their offerings align with the diverse trading goals and preferences of our readers. Our focus is on providing a balanced overview of each broker’s strengths and weaknesses. This method ensures that our readers receive clear, insightful comparisons to aid in making well-informed trading decisions.

We employ a comprehensive rating system across nine key categories:

• Trust
• Fees
• Platforms and Tools
• Tradable Instruments
• Customer Support
• Research
• Deposits and Withdrawals
• Account Types and Terms
• Education

In each category, we conduct an in-depth analysis for both brokers, outlining features, advantages, and disadvantages and determining their suitability for different trader profiles. By blending insights from our extensive reviews with first-hand experiences and observations, we ensure each comparison is balanced, informative, and tailored to the trader’s unique needs. You can read more about our review process here.

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