If you are reading this article, you’re likely having trouble deciding whether Exness or XM is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note.
In this Exness vs XM review, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:
- Features and Platforms
- Available Markets
- Typical Spreads and Fees
- Security and Trust
- Exness vs XM - Verdict
Headquarters | Cyprus | Cyprus |
Regulators | CMA, CySEC, FCA, FSA, FSC Belize, FSC Mauritius, FSCA | ASIC, CySEC, DFSA, FSC Belize |
Tier 1 Regulator(s)? | ||
Owned by Public Company? | ||
Year Established | 2008 | 2009 |
Execution Type(s) | Market Maker | Market Maker |
Minimum Deposit | $10 (based on the account type) | $5 |
Negative Balance Protection | N/A | |
Trading Platform(s) | MetaTrader 4, MetaTrader 5, Proprietary platform | MetaTrader 4, MetaTrader 5, Proprietary platform |
Average Trading Cost EUR/USD | 0.6 pips | 0.1 pips |
Average Trading Cost GBP/USD | 0.7 pips | 0.2 pips |
Average Trading Cost WTI Crude Oil | 6.7 pips | $0.05 |
Average Trading Cost Gold | 11.3 pips | $0.19 |
Retail Loss Rate | Undisclosed | N/A |
Minimum Raw Spreads | 0.0 pips | N/A |
Minimum Standard Spreads | 0.3 pips | N/A |
Minimum Commission for Forex | $7.00 per 1.0 standard round lot | N/A |
Islamic Account | ||
Signals | ||
US Persons Accepted? | ||
Managed Accounts | ||
| Get Started | Get Started |
Features and Platforms
Forex traders at Exness get an excellent asset selection in the core MT4/MT5 trading platforms, but unfortunately, this broker does not provide any add-ons. VPS hosting is available for automated traders. While Exness offers the WebTV channel by Trading Central, there is no research or education for beginner traders. XM maintains one of the best overall trading environments, enjoyed by more than 3.5 million clients. XM provides upgraded MT4/MT5 trading platforms with an engaging management team, quality trading tools, in-house research, bonuses and rewards. An in-depth educational section is also available.
MT4 | ||
MT5 | ||
MT4/MT5 Add-Ons | N/A | |
cTrader | ||
Proprietary Platform | ||
Automated Trading | ||
Social/Copy Trading | N/A | |
DOM? | ||
Guaranteed Stop Loss | ||
Scalping | ||
Hedging | ||
One-Click Trading | ||
OCO Orders | ||
Interest on Margin | ||
| Get Started | Get Started |
Available Markets
Exness shines with is Forex selection, where traders get 107 currency pairs. It places it in the Top 10 among all online Forex brokers. The drawback is the limited overall choice of available markets. Exness maintains seven cryptocurrency pairs, twelve commodities, and 81 equity and index CFDs. While XM features fewer currency pairs at 57 and fails to offer cryptocurrencies, the rest of the asset selection remains well ahead of Exness. Traders have access to 15 commodities, 28 index CFDs, and 1,243 equity CFDs. XM also added 100 shares for direct dealing to its well-balanced and attractive portfolio.
Currency Pairs | ||
Cryptocurrencies | ||
Commodities | ||
Crude Oil | ||
Gold | ||
Metals | ||
Equity Indices | ||
Stocks (non-CFDs) | ||
Bonds | N/A | |
ETFs | ||
Futures | ||
Synthetics | ||
| Get Started | Get Started |
Typical Spreads and Fees
Traders at Exness must accept above-average costs from 1.0 pips or $10 per 1.0 standard lots. For a minimum deposit of $3,000, Exness offers access to a mark-up of 0.6 pips or $6. XM counters with a commission-free offer of 0.6 pips, available to all traders. CFD trading remains free of charge, but XM levies a commission of $10.00 or 0.10% on direct share trading. Traders pay swap rates on leveraged overnight positions at both brokers, together with third-party payment processor costs. Given the availability of the 0.6 spread, XM takes the lead in this category.
Average Trading Cost EUR/USD | 0.6 pips | 0.1 pips |
Average Trading Cost GBP/USD | 0.7 pips | 0.2 pips |
Average Trading Cost WTI Crude Oil | 6.7 pips | $0.05 |
Average Trading Cost Gold | 11.3 pips | $0.19 |
Average Trading Cost Bitcoin | 161.1 pips | N/A |
Minimum Raw Spreads | 0.0 pips | N/A |
Minimum Standard Spreads | 0.3 pips | N/A |
Minimum Commission for Forex | $7.00 per 1.0 standard round lot | N/A |
Deposit Fee | N/A | |
Withdrawal Fee | N/A | |
Inactivity Fee | No | N/A |
| Get Started | Get Started |
Security and Trust
After Exness shut its retail operations in the UK and the EU, using them only for business-to-business services, traders will deal with its subsidiaries Nymstar or Vlerizo. The former has a license from the Seychelles FSA and the latter from the South African FSCA. XM maintains units with oversight from the UK FCA, the CySEC, the ASIC, the Belize IFSC, and the DFSA. Negative balance protection and the segregation of client deposits from corporate funds exist at Exness and XM alike. Both brokers maintain a secure, trustworthy, and competitive trading environment with a clean regulatory track record.
Country of the Regulator | Cyprus, Kenya, Mauritius, Seychelles, United Kingdom, British Virgin Islands, South Africa, Curaçao | United Arab Emirates, Australia, The Bahamas, Belize, Cyprus, United Kingdom, United States |
Name of the Regulator | CMA, CySEC, FCA, FSA, FSC Belize, FSC Mauritius, FSCA | ASIC, CySEC, DFSA, FSC Belize |
Regulatory License Number | SD025, 0003LSI, SIBA/L/20/1133, 51024, GB20025294, 178/12, 730729, 162 | 705428, 120/10, 443670, 000261/397, F003484, SIA-F201, 0516820 |
Regulatory Tier | N/A | 1,1,1,4,2,4,1 |
| Get Started | Get Started |
Exness vs. XM: Verdict
Since launching in 2008, Exness changed significantly, together with the regulatory environment. It has displayed a deep understanding of the needs of traders and demonstrated a willingness to provide a competitive trading environment with trustworthy regulators.
Exness remains an excellent Forex broker, especially for traders with a minimum deposit above $3,000, as the trading costs decrease notably. Given the absence of value-added services, Exness became an execution-only Forex broker with the addition of VPS hosting.
XM continues to increase its market share with one of the best overall trading environments. The well-balanced asset selection, a low minimum deposit of only $5, and the upgraded MT4/MT5 trading platforms with high leverage present traders with a distinct competitive edge. Beginner traders will also benefit from the quality educational section, while the generous bonus and reward program delivers a boost to active traders. Exness cannot match the XM offer.
You might also be interested in reviewing the below broker comparisons:
- Exness vs AvaTrade
- Exness vs Pepperstone
- FP Markets vs XM
- Eightcap vs XM
Read full Exness Review
Read full XM Review
Both brokers have licenses from trustworthy global regulators and maintain a clean track record. Negative balance protection and segregation of client deposits exist at Exness and XM, making them equally safe.
Exness and XM provide traders with the out-of-the-box MT4/MT5 trading platforms, but XM also delivers a series of plug-ins for an improved solution. Both trading platforms come with an integrated copy-trading service.
Traders have an equally reliable broker in Exness and XM, as both have more than a decade of experience. XM is home to significantly more traders.
Exness provides traders with an excellent 107 Forex pairs but only 100 CFDs. XM maintains 57 currency pairs and 1,283 CFDs, a well-balanced choice, while cryptocurrencies are missing.
