XM vs Interactive Brokers - Fees Review included
Which broker is better XM or Interactive Brokers? 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. Interactive Brokers is one of the top brokers in the financial market with the TU Overall Score of 7.45 out of 10. Find out more about TU Overall Score.
| Feature | XM | Interactive Brokers |
|---|---|---|
Overall |
4.5 |
4.9 |
4.9 |
5 |
|
4.3 |
4.9 |
|
4.4 |
5 |
|
Investment Instruments |
4.4 |
4.2 |
Platforms and Charting Tools |
4.6 |
5 |
Deposit and Withdrawal |
4.7 |
4.1 |
Research |
5 |
4.7 |
Education |
5 |
4.5 |
Support |
4.6 |
4.2 |
Bonuses |
5 |
3.1 |
|
|
|
XM vs Interactive Brokers: 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.
The biggest international broker
| XM | Interactive Brokers | |
|---|---|---|
| Overall Pros | Well-Regulated broker | Access to 135 markets in 33 countries |
| Strong research tools | 30.000+ trading instruments | |
| Strong education | Regulated in the US, UK and 8 other countries | |
| Big Forex bonuses | Advanced trading platform | |
| Free deposit and withdrawal | Free stocks for registration | |
| Instant withdrawal | Low fees | |
| 1000+ trading assets | Low margin rates | |
| Nasdaq Listed company | ||
| 25 supported account currencies | ||
| Overall Cons | High spreads | long and complex registration procedure |
XM vs Interactive Brokers: Safety and Regulation
| XM | Interactive Brokers | |
|---|---|---|
Max. Regulation Level |
Tier-1 |
Tier-1 |
Investor protection |
£85,000 €20,000 |
$500,000 £85,000 |
FCA UK Regulation |
No |
Yes |
FINRA (U.S) |
No |
Yes |
BaFin (Germany) |
No |
No |
ASIC (Australia) |
No |
Yes |
CFTC (U.S) |
No |
Yes |
MAS |
No |
Yes |
FSCA SA |
Yes |
No |
BVI FSC |
No |
No |
VFSC |
No |
No |
FSA (Seychelles) |
Yes |
No |
XM vs Interactive Brokers: Trading Conditions
| Trading Conditions | XM | Interactive Brokers |
|---|---|---|
Minimum Deposit |
$5 |
$0 |
Trading Platforms |
MT4, MT5 |
IB Trader Workstation, IBKR GlobalTrader, Client Portal |
Max Leverage (Futures) |
1:888, 1:30 (for EU, UK clients) |
1-50 |
Supported Markets |
Forex, CFDs on indices, commodities, crypto, metals, stocks |
Stocks, Forex, ETFs, Mutual Funds, Bonds, Stock options, Commodity Futures, Currency futures, Cryptocurrencies, Robo-portfolios, hedge funds |
Trading assets |
1300+ |
30000+ |
Trading Accounts |
Micro, Standard, Ultra Low, Zero |
Cash account, margin account |
Base Account Currencies |
USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
USD, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NZD, NOK, PLN, SGD, SEK, CHF, CNH |
XM vs Interactive Brokers: Fees
| XM | Interactive Brokers | |
|---|---|---|
Standard acc. spread EUR/USD, min pips |
0,7 |
0,2 |
Standard acc. spread EUR/USD, max pips |
1,2 |
0,8 |
ECN Commission |
3,5 |
2 |
ECN Spread EUR/USD |
0,2 |
0,2 |
Deposit fee, % |
No |
No |
Withdrawal fee, % |
No |
Yes |
Withdrawal fee, USD |
No |
Yes |
Inactivity fee, $ |
10 |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
XM vs Interactive Brokers: Trading Assets
| Asset Name | XM | Interactive Brokers |
|---|---|---|
Overall |
1300+ |
30000+ |
Forex |
Yes |
Yes |
Stocks |
Yes |
Yes |
Metals |
Yes (CFD) |
Yes |
Cryptocurrencies |
Yes (CFD) |
Yes |
Energy |
Yes (CFD) |
Yes |
Indices |
Yes (CFD) |
Yes |
ETFs |
Yes (CFD) |
Yes |
Bonds |
No |
Yes |
Mutual funds |
No |
Yes |
Stock options |
No |
Yes |
Futures Trading |
No |
Yes |
Binary Options |
No |
No |
XM or Interactive Brokers: Investment Programs
| Asset Name | XM | Interactive Brokers |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
Robo-portfolios, hedge funds, Bonds |
Trading Platforms: Interactive Brokers or XM
| XM | Interactive Brokers | |
|---|---|---|
MT4 |
Yes |
No |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
IB Trader Workstation, IBKR GlobalTrader, Client Portal |
Others |
No |
No |
|
|
|
XM vs Interactive Brokers: Deposit and Withdrawal Methods
| XM | Interactive Brokers | |
|---|---|---|
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 Interactive Brokers: Research
| Research Type | XM | Interactive Brokers |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
Yes |
Yes |
XM vs Interactive Brokers: Education
| Education Type | XM | Interactive Brokers |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
Yes |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Cent account |
Yes |
No |
Interactive Brokers vs XM: Support
| Support Features | XM | Interactive Brokers |
|---|---|---|
Working Days |
24/5 |
24/5 |
Yes |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
Community forum, Software bug reports |
XM vs Interactive Brokers: Forex Bonuses and Promo
| Promo | XM | Interactive Brokers |
|---|---|---|
Forex Bonus |
up to $5000 forex bonus, up to 100% forex deposit bonus |
No |
Affiliate Program |
Multi tier affiliate program |
As Referrer you can earn up to USD 1000 of IBKR stock. The Refer a Friend program allows eligible IBKR clients to refer people to IBKR for a flat fee payment. Residents of Japan, Spain and Israel are not eligible to participate in the program. |
Other Promos |
||
|
|
|
Top 5 Reviews on Interactive Brokers
-
Comment
What stands out for me with Interactive Brokers is their mobile app. I use the IBKR Mobile app a lot when I’m not at my desk, and it offers pretty much the same experience as the desktop version. The ability to trade everything from stocks to options while on the go is a huge plus. It also has features for international trading, which makes it easy for me to handle trades across multiple markets. The app’s interface is straightforward and user-friendly, allowing me to monitor my portfolio, execute trades, and even access research tools seamlessly. While it might lack some advanced charting features, it’s still one of the most versatile apps I’ve used, especially for global traders like me
-
Comment
I am a client of interactivebrokers and I have never faced any problems during the whole time. I am completely satisfied with the service: the staff is always friendly, responsive and ready to help, which really leaves a good impression. Special thanks to the operators - their attentive attitude to people creates a feeling of care and support. It is a pleasure to work with a company that values its customers and does everything for comfortable service!
-
Comment
As far as my experience is concerned with Interactive Brokers, the thing I love most is the sheer variety of markets available. The GlobalTrader app lets me trade in over 90 different markets, which is super convenient for someone like me who likes to diversify. The interface might feel overwhelming at first, especially on Trader Workstation, but once you get the hang of it, it’s extremely powerful. I also appreciate the competitive pricing and order options that help keep my trading costs low.
-
Comment
Interactive brokers offer a huge variety of trading instruments, which is certainly pleasing. The opportunities for trading and diversification here are excellent. However, there is one minus - the website interface is only partially translated into other languages, and it is a bit disappointing. It would be more convenient if the whole platform was available in different languages, especially for traders who do not speak English.
-
Comment
Interactive Brokers provides access to 135 markets from 33 countries, which is a huge advantage. This allows traders to easily diversify their portfolios and find opportunities around the world. I am very pleased with this broad coverage and the ability to trade in a multitude of international markets.
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.