XM vs FXOpen - Fees Review included
Which broker is better XM or FXOpen? Our expert assessment conducted according to TU’s own methodology showed that XM is one of the top brokers in the financial market with the TU Overall Score of 9 out of 10. FXOpen is one of the top brokers in the financial market with the TU Overall Score of 6.9 out of 10. Find out more about TU Overall Score.
| Feature | XM | FXOpen |
|---|---|---|
Overall |
4.5 |
4.6 |
4.9 |
4.5 |
|
4.3 |
4.8 |
|
4.4 |
4.3 |
|
Investment Instruments |
4.4 |
3.9 |
Platforms and Charting Tools |
4.6 |
4.6 |
Deposit and Withdrawal |
4.7 |
4.7 |
Research |
5 |
4.2 |
Education |
5 |
4.3 |
Support |
4.6 |
4.7 |
Bonuses |
5 |
4.7 |
|
|
|
XM vs FXOpen: Pros and Cons
XM Broker was founded in 2009. Initially, the company covered a narrow niche of the trader market, specializing exclusively in intermediary services at the foreign exchange market. It has since experienced considerable success and growth. XM is reliable and safe. It has diversified and is now an international broker operating in almost 190 countries around the world. For over a decade XM Broker has attracted 3,5 million traders, offering unique technological solutions. The company is now being recognised as the Fastest Growing Broker, the Best Forex Service Provider and various other contributing achievements. The team at XM Broker is committed to continually working hard to improve the quality of the services provided every year as they are committed to continually providing the best service to their traders.
FXOpen Broker Company was established in Cairo in 2003. In 2005 it commenced dealing services, and thereafter became one of the leaders in the Forex industry. The company has held its high-level service through optimum trading conditions, innovative technologies, and a wide range of financial services.
| XM | FXOpen | |
|---|---|---|
| Overall Pros | Well-Regulated broker | profitable trading conditions for the trader of any experience level from beginner to professional |
| Strong research tools | minimum commissions for withdrawal and Cash-back program, which will reduce your commission fees further | |
| Strong education | PAMM-service for successful traders’ transactions copying | |
| Big Forex bonuses | auto-trading availability | |
| Free deposit and withdrawal | convenient reports on account status to the end of the day and month. | |
| Instant withdrawal | ||
| 1000+ trading assets | ||
| Overall Cons | High spreads | insufficient amount of training materials |
| there is no way to order a call back |
XM vs FXOpen: Safety and Regulation
| XM | FXOpen | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
Investor protection |
£85,000 €20,000 |
£85,000 €20,000 |
FCA UK Regulation |
No |
Yes |
FINRA (U.S) |
No |
No |
BaFin (Germany) |
No |
No |
ASIC (Australia) |
No |
No |
CFTC (U.S) |
No |
No |
MAS |
No |
No |
FSCA SA |
Yes |
No |
BVI FSC |
No |
No |
VFSC |
No |
No |
FSA (Seychelles) |
Yes |
No |
XM vs FXOpen: Trading Conditions
| Trading Conditions | XM | FXOpen |
|---|---|---|
Minimum Deposit |
$5 |
$1 |
Trading Platforms |
MT4, MT5 |
MT4, MT5, WebTrader, Mobile app |
Max Leverage (Futures) |
1:888, 1:30 (for EU, UK clients) |
1-500 |
Supported Markets |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Forex, CFD, indices, gold and silver, Cryptocurrencies |
Trading assets |
1300+ |
|
Trading Accounts |
Micro, Standard, Ultra Low, Zero |
Demo, Micro, ECN, STP, Crypto, Islamic accounts |
Base Account Currencies |
USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
USD, EUR, GBP, CAD, AUD, CHF, JPY, CNY |
XM vs FXOpen: Fees
| XM | FXOpen | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,7 |
0,5 |
Standard acc. spread EUR/USD, max pips |
1,2 |
1,2 |
ECN Commission |
3,5 |
1,5 |
ECN Spread EUR/USD |
0,2 |
0,1 |
Deposit fee, % |
No |
0,5 |
Withdrawal fee, % |
No |
0,5-2 |
Withdrawal fee, USD |
No |
No |
Inactivity fee, $ |
10 |
10-100 |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
XM vs FXOpen: Trading Assets
| Asset Name | XM | FXOpen |
|---|---|---|
Overall |
1300+ |
200+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
Yes (CFD) |
ETFs |
Yes (CFD) |
Yes |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
XM or FXOpen: Investment Programs
| Asset Name | XM | FXOpen |
|---|---|---|
Copy Trading |
Yes |
Yes |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: FXOpen or XM
| XM | FXOpen | |
|---|---|---|
MT4 |
Yes |
Yes |
MT5 |
Yes |
Yes |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
No |
No |
|
|
|
XM vs FXOpen: Deposit and Withdrawal Methods
| XM | FXOpen | |
|---|---|---|
Bank Wire |
Yes |
Yes |
Bank Card |
Yes |
Yes |
Neteller |
Yes |
Yes |
BTC |
Yes |
Yes |
Wise |
No |
No |
Payoneer |
No |
No |
USDT |
Yes |
Yes |
XM vs FXOpen: Research
| Research Type | XM | FXOpen |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
No |
XM vs FXOpen: Education
| Education Type | XM | FXOpen |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
No |
Cent account |
Yes |
Yes |
FXOpen vs XM: Support
| Support Features | XM | FXOpen |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
XM vs FXOpen: Forex Bonuses and Promo
| Promo | XM | FXOpen |
|---|---|---|
Forex Bonus |
up to $5000 forex bonus, up to 100% forex deposit bonus |
A $10 bonus is credited after opening a personal account (eWallet) and passing the 2nd level of verification. (for STP-type accounts); A welcome bonus of $1 is credited when opening a Micro account. |
Affiliate Program |
Multi tier affiliate program |
There is a flexible system of remunerations and coefficients depending on these indicators. 1st level — 100% of the standard commission, 2nd level — 35% of the standard commission, 3rd level — 10% of the standard commission. |
Other Promos |
Forex Cup - A bonus in the amount of 1% of the profit is credited for participating in contests for traders on a virtual account, FXOpen Cashback - The broker refunds a part of the funds for the trading operations conducted, including unprofitable ones. The amount depends on the margin involved in all accounts and ranges from $5 to $1,000. |
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Top 5 Reviews on FXOpen
-
Comment
I haven’t been trading for long and chose FXOpen because they allow you to start with small amounts — just $10. The broker offers educational materials, 24/5 chat support, and the website is available in 13 languages, making it easy to understand even for beginners. Opening an STP account is available for most countries, and I appreciated the negative balance protection — it gives extra confidence when taking the first steps in the market.
-
Comment
I chose FXOpen because of its strict regulation — the broker is overseen by the FCA, CySEC, and The Financial Commission, which is extremely important to me. The minimum deposit starts at just $10 for an STP account and $300 for an ECN account, offering flexibility in capital allocation. I was also impressed by the range of platforms available: MT4, MT5, TickTrader, and TradingView. The leverage of up to 1:500 aligns well with my trading strategies. What matters to me most is that FXOpen provides compensation funds of up to £85,000 and €20,000 in the event of broker insolvency.
-
Comment
I liked the broker for the quality of execution on the ecn account. Fast withdrawal of funds. I use usdt. I trade on an ECN account on the EUR/USD pair. This pair has the tightest spreads
-
Comment
Better than others Forex Brokers FXOpen is better than other Forex brokers around in the terms of the trading experience and low spreads in the ECN accounts. Deposits and withdrawals are hassle-free and I am a Full time trader using them from 2 years. Thank you FXOpen for being a part in my Success.
-
Comment
What I like best about trading with fxopen broker is the wide range of trading tools available to traders. I hope they continue to take this approach
Top 5 Reviews on XM
-
Comment
It’s a cool broker and it works really well especially because the support are helpful, professional and available 24/7.
-
Comment
I discovered XM Group through the Traders Union rankings — the company ranked among the top brokers. I was impressed by the range of instruments: over 1,000 tradable assets, including 55+ currency pairs, stocks, indices, commodities, and even palladium and platinum. Spreads are very tight, with no markup on most pairs. I especially appreciated the execution speed: 99.35% of orders are filled in less than a second, and I can confirm that personally — I haven’t experienced any delays or requotes. Over the past four months, I’ve made around $700 trading currencies and commodities.
-
Comment
I've been trading with XM Group for just over a year. I chose this broker based on reviews and the fact that it holds multiple licenses — ASIC, CySEC, FSC, and DFSA. I really liked the low minimum deposit of just $5, which meant I didn’t have to risk a large amount. I started with a micro account where 1 lot equals 1,000 units — perfect for beginners. I’m satisfied with the spreads: on EUR/USD they start from 0.8 pips, and there are no fees for deposits or withdrawals, which is quite rare. Over the year, I’ve withdrawn about $900 in profit — the funds arrived quickly, with a maximum wait of 2 days.
-
Comment
XM Group is a great choice for active trading thanks to its transparent commission policy and no requotes. Over 5 million traders have chosen this broker — an impressive number. I made about 70 trades in a month, all executed in under a second with no requotes. MQL5 trading signals can be integrated directly into the terminal, making it easy to test ideas from other traders. A $5 minimum deposit and a wide range of assets make XM Group a versatile option for both beginners and professionals.
-
Comment
I liked that XM Group operates under licenses from four regulators at once: ASIC, CySEC, FSC, and DFSA. This inspires confidence. Fast execution was important to me — the broker claims 100% order execution, and in practice trades close at the prices I see in the terminal. Spreads are minimal — for major pairs they stay around 0.8–1 pip. Support is always available on weekends and helped me with account verification questions.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.