- FxPro adds cTrader, TradingView and an Elite rebate structure
- XM and FxPro use different spread-only and raw-pricing accounts
- The assigned entity determines protection and leverage
- Swap-free administration and account eligibility require written confirmation
Overview#
XM and FxPro are both well-established international forex brokers with strong multi-jurisdiction regulation and competitive trading conditions. They target overlapping but distinct audiences — XM focuses on accessibility and trader education, while FxPro positions itself as a professional-grade broker with diverse platform options.
XM was founded in 2009 and offers MetaTrader accounts, its own app, education and promotions where eligible. Terms vary by entity.
FxPro was founded in 2006 and lists MT4, MT5, cTrader, TradingView and proprietary tools, plus Raw+ and Elite pricing. This guide does not independently verify execution quality.
Quick Comparison Table#
| Feature | XM | FxPro |
|---|---|---|
| Founded | 2009 | 2006 |
| Regulation | CySEC, DFSA, FSCA, FSC/FSA, CMA Kenya, BVI FSC | FCA, CySEC, ASIC, FSCA, SCB |
| Min. Deposit | $5 | $100 |
| Spreads (EUR/USD) | From 0.6 pips (Ultra Low) | From 0.0 pips (Raw+) |
| Commission | $0 (Standard/Ultra Low); XM Zero has commission | $3.50/lot/side (Raw+/Elite) |
| Max. Leverage | Up to 1:1000* | Up to 1:500* |
| Platforms | MT4, MT5, XM App, XM WebTrader | MT4, MT5, cTrader, TradingView, WebTrader |
| Islamic Account | Yes (all account types) | Yes (upon request) |
| Bonus | Available in eligible jurisdictions | No bonuses |
| Support Languages | 30+ including Arabic | 20+ including Arabic |
| Education | Extensive (webinars, seminars) | Good (articles, videos) |
| Instruments | 1,400+ | 2,100+ |
| Review | XM review | - |
Regulation#
Both brokers hold multiple licenses, but the protection level depends on the exact legal entity that onboards your account.
XM's official regulation page lists 8 group licenses:
- CySEC (Cyprus) — License #120/10
- DFSA (Dubai, DIFC) — License #F003484
- FSCA (South Africa) — License #49976
- FSC (Belize) — Licence #8557558
- FSC (Mauritius) — Investment Dealer Licence #GB23202700
- FSA (Seychelles) — Securities Dealer's License #SD190
- CMA (Kenya) — Non-Dealing Online Forex Broker License #233
- BVI FSC (British Virgin Islands) — Investment Business License #SIBA/L/25/1182
FxPro's regulatory licenses:
- FCA (United Kingdom) — License #509956
- CySEC (Cyprus) — License #078/07
- ASIC (Australia)
- FSCA (South Africa) — License #45052
- SCB (Bahamas) — License #SIA-F184
| Aspect | XM | FxPro |
|---|---|---|
| Tier 1 Regulators | CySEC | FCA, CySEC, ASIC |
| Middle East | DFSA (Dubai) | — |
| Africa | FSCA, CMA (Kenya) | FSCA |
| Client Fund Segregation | Entity-dependent rules | Yes |
| Negative Balance Protection | Entity/account terms apply | Yes |
| Compensation Scheme | ICF only where eligible under CySEC entity | FSCS only where eligible under FCA entity |
| Review | XM review | - |
Verdict on regulation: Both are well-regulated. FxPro holds three Tier 1 licenses (FCA, CySEC, ASIC), while XM's official regulation page lists entities across CySEC, DFSA, FSCA, FSC/FSA, CMA Kenya and BVI FSC jurisdictions, with DFSA especially valuable for Middle Eastern traders. Your actual protection depends on the entity named in your client agreement.
Spreads and Fees#
Both brokers offer competitive pricing, but their pricing models differ significantly.
XM Spreads (typical):
| Account | EUR/USD | GBP/USD | USD/JPY | Gold |
|---|---|---|---|---|
| Standard | 1.6 pips | 2.1 pips | 1.6 pips | 3.5 pips |
| Ultra Low | 0.6 pips | 0.7 pips | 0.7 pips | 1.5 pips |
| XM Zero | 0.0 pips | 0.2 pips | 0.1 pips | 2.0 pips |
XM Zero charges $3.50/lot/side commission.
FxPro Spreads (typical):
| Account | EUR/USD | GBP/USD | USD/JPY | Gold |
|---|---|---|---|---|
| Standard | 1.2 pips | 1.5 pips | 1.3 pips | 3.0 pips |
| Raw+ | 0.0 pips | 0.2 pips | 0.1 pips | 1.5 pips |
| Elite | 0.0 pips | 0.2 pips | 0.1 pips | 1.5 pips |
FxPro Raw+ and Elite charge $3.50/lot/side commission. Elite accounts earn rebates from $1.50/lot based on volume.
All-in cost comparison (EUR/USD, 1 standard lot round-turn):
Under the displayed assumptions, XM Ultra Low is $6 and FxPro Standard $12 per lot round turn, while the raw-account commission examples are $7. These are illustrative published inputs, not audited average fills.
Non-trading fees:
- Deposits/Withdrawals: Both offer free deposits and most withdrawals
- Inactivity fee: XM charges $5/month after 90 days. FxPro charges $15 after 6 months of inactivity, then $5/month after 12 months
- Swap rates: Both offer swap-free options for Islamic accounts
Leverage#
| XM | FxPro | |
|---|---|---|
| Maximum leverage | Up to 1:1000* | Up to 1:500* |
| Default leverage | Entity/account dependent | Entity/account dependent |
| Leverage on Majors | Up to 1:1000* | Up to 1:500* |
| Leverage on Gold | Up to 1:1000* | Up to 1:200* |
| Leverage on Crypto | Entity and instrument dependent | Entity and instrument dependent |
| Leverage on Indices | Entity and instrument dependent | Entity and instrument dependent |
| Review | XM review | - |
Verdict on leverage: XM has a headline advantage where the client is onboarded under an entity that allows higher leverage. FxPro's 1:500 maximum is still adequate for most forex strategies. For both brokers, the real cap depends on your country, legal entity, account type, and instrument.
Account Types#
XM Account Types:
| Account | Min. Deposit | Spread From | Commission | Key Feature |
|---|---|---|---|---|
| Micro | $5 | 1.0 pips | $0 | Micro lots (1,000 units) |
| Standard | $5 | 1.0 pips | $0 | Standard lots |
| Ultra Low | $5 | 0.6 pips | $0 | Low spreads, no commission |
| XM Zero | $100 | 0.0 pips | $3.50/lot/side | Raw spreads |
FxPro Account Types:
| Account | Min. Deposit | Spread From | Commission | Key Feature |
|---|---|---|---|---|
| Standard | $100 | 1.2 pips | $0 | All-inclusive spreads |
| Raw+ | $100 | 0.0 pips | $3.50/lot/side | Raw spreads for active traders |
| Elite | $100 | 0.0 pips | $3.50/lot/side | Raw spreads + volume rebates |
FxPro's unique offering is the Elite account, which provides volume-based rebates starting from $1.50/lot — useful for high-frequency traders who can offset commission costs through trading volume.
Platforms#
Platform variety is where FxPro has a notable advantage.
XM:
- MetaTrader 4 (Desktop, Web, Mobile)
- MetaTrader 5 (Desktop, Web, Mobile)
- XM App (proprietary mobile app with account management)
- XM WebTrader
FxPro:
- MetaTrader 4 (Desktop, Web, Mobile)
- MetaTrader 5 (Desktop, Web, Mobile)
- cTrader (Desktop, Web, Mobile)
- TradingView (integrated charting and trading)
- FxPro WebTrader (proprietary web platform)
- FxPro Mobile App
| Feature | XM | FxPro |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | No | Yes |
| TradingView | No | Yes |
| Proprietary Platform | XM App, XM WebTrader | FxPro WebTrader |
| Copy Trading | Yes | Yes (cTrader Copy) |
| VPS | Free (conditional) | Free (conditional) |
| Autochartist | Yes | No |
| Review | XM review | - |
FxPro's cTrader integration is a significant advantage for professional traders who demand Level II pricing, advanced order types, and depth-of-market data. TradingView integration lets traders use one of the most popular charting tools directly for execution. FxPro WebTrader offers browser-based trading without installing software. XM's strength is its ecosystem — MT4/MT5, XM WebTrader, the XM App, education, and Autochartist-style market analysis.
Islamic Accounts#
Both brokers offer swap-free accounts for Muslim traders.
XM Islamic Account:
- Available on all account types (Micro, Standard, Ultra Low, Zero)
- No swap or rollover charges on overnight positions
- No additional fees, markups, or hidden costs
- Activated upon request through customer support
- No time limit on swap-free status
- Full Arabic support during setup and management
FxPro Islamic Account:
- Available on Standard, Raw+, and Elite accounts
- No swap charges on overnight positions
- A transparent administrative fee is charged instead of swaps to cover operational costs
- Activated upon request through customer support
- Access to 70+ currency pairs, commodities, and indices
- Arabic support available
Customer Support#
The listed support and education inventories differ, but quality and response times were not independently benchmarked.
| Aspect | XM | FxPro |
|---|---|---|
| Live Chat | 24/5 | 24/5 |
| Yes | Yes | |
| Phone | Yes | Yes |
| Languages | 30+ | 20+ |
| Arabic Support | Full dedicated native team | Available |
| Response Time | Under 1 minute (chat) | Under 2 minutes (chat) |
| Personal Account Manager | Yes | Yes (for qualified accounts) |
| Webinars | Regular (multiple languages) | Occasional |
| Seminars | Global events | Limited |
| Educational Depth | Extensive (200+ videos, guides) | Good (articles, videos) |
| Review | XM review | - |
XM's support strengths:
- Dedicated Arabic-speaking customer support team
- Regular live webinars in Arabic and other languages
- Personal account managers for active traders
- Global seminar program with events in Middle Eastern countries
- Over 200 educational videos and comprehensive trading guides
FxPro's support strengths:
- Good multilingual support across 20+ languages
- Professional-grade platform documentation
- Reliable technical support for platform issues
- CME Group education partnership
Final Verdict#
XM and FxPro are both reputable, well-regulated brokers with different strengths.
Choose XM if you:
- Are a beginner or intermediate trader
- Want to start with as little as $5
- Value bonuses where eligible, subject to country and entity terms
- Need full Arabic support — customer service, webinars, and education
- Want a personal account manager
- Prefer higher leverage flexibility where your entity allows it
- Want promotional offers, where available, to reduce starting friction
- Are based in the Middle East and value DFSA regulation
- Appreciate a comprehensive educational ecosystem
Choose FxPro if you:
- Are an experienced trader who values platform diversity
- Want access to cTrader and TradingView alongside MT4/MT5
- Prefer FCA regulation as your primary safety layer
- Can comfortably deposit $100+ to get started
- Want access to a wider range of instruments (2,100+)
- Are a high-volume trader who can benefit from Elite account rebates
- Don't need bonuses or extensive educational support
Our assessment: Neither is universally preferable. FxPro may fit traders who need cTrader, TradingView or Elite rebates; XM may fit traders whose available MetaTrader account and education format match their plan. Verify the entity and test total cost.
Short answer: Neither XM nor FxPro is automatically the better broker. The suitable choice is the one that gives your country, entity, account type and strategy the clearest combination of protections, total cost and usable platform tools. Marketing claims such as “lowest spread”, “unlimited leverage” or “best for beginners” are not a substitute for the contract shown during onboarding.
Start with the legal entity, not the brand#
A broker group can use one name while accepting clients through several licensed companies. That can change the regulator, leverage cap, negative-balance rules, complaint route, compensation arrangements, instruments and promotion eligibility. XM’s official materials identify separate group entities, including CySEC-, DFSA- and Belize FSC-regulated companies. Do not assume that a licence mentioned on a global site is the licence governing your account.
FxPro describes Standard pricing as floating spreads with no commission and Raw Spread pricing as spreads from 0.0 with commission. Its current disclosure gives $3.50 per side per USD lot for specified Raw Spread FX and metals trades, while stressing that spreads are variable. Elective professional clients can lose some retail protections, even where negative balance protection remains.
Example: A trader living in the UK may receive a different product and leverage limit from an otherwise identical trader opening an account from the Gulf or Africa. The account-opening agreement, not a comparison table, identifies the contracting party. Save a copy of that agreement and the cost schedule before sending funds.
Common mistake: Comparing XM’s headline leverage or bonus with FxPro’s global headline leverage without checking whether either is available to the applicant. Higher leverage increases the speed at which margin is consumed; it does not make a small account safer or a strategy more profitable.
Professional tip: Search the broker’s legal documents for the exact company name, regulator and licence number, then confirm that number on the regulator’s own register. For a material amount of capital, test the complaints process and withdrawal requirements before you need them.
Compare the all-in trading cost#
A quoted “from” spread is a starting point, not an expected fill. For a short-term EUR/USD trade, calculate: opening spread cost + commission on entry and exit + expected slippage + any platform, conversion or financing cost. For a position held overnight, financing or the swap-free alternative can become more important than the entry spread.
Example: A raw account can display 0.0 pip at a quiet moment but charge a round-turn commission. A spread-only account may be cheaper for a lower-frequency trader if its typical spread is stable and there is no separate commission. Record the bid/ask, commission and execution result in a demo or very small live test during the hours you actually trade.
Common mistake: Treating “zero commission” as “zero cost”, or comparing a raw price with a standard-account price without adding the raw-account commission. Also avoid treating a single screenshot as evidence of normal execution around news, the market open or rollover.
Professional tip: Build a one-page cost log for ten proposed trades. Include the instrument, time, account type, spread in pips, commission, swap or administrative charge and slippage. The same log makes an evidence-based XM versus FxPro decision possible.
Platform, product and strategy fit#
XM’s availability of MT4 and MT5 may suit traders who need familiar desktop tools or an existing expert-advisor workflow. FxPro may offer a different proprietary terminal, social feature, platform integration or raw-pricing structure. Those differences matter only if they support a defined process. A copy-trading feed is not due diligence, and an algorithm cannot remove market, gap or execution risk.
Before funding, open a demo with the intended account type and check: the exact symbols, contract size, margin rate, stop-out level, order types, permitted strategy, minimum lot and margin treatment for hedged positions. If you intend to use an Islamic or swap-free arrangement, obtain the instrument list and any grace-period, administration-fee or long-hold rule in writing. “Swap-free” does not necessarily mean every instrument or every holding period is cost-free.
A fair conclusion#
XM may be a practical candidate for a trader who values its available entity, account terms, education or platform setup. FxPro may be a practical candidate where its available legal entity, pricing model or platform better matches the trader’s tested requirements. That is a conditional conclusion, not a recommendation to deposit.
Use this checklist before deciding:
- Confirm the named contracting entity and regulator for your residence.
- Read the current account specification and costs-and-charges document for the exact account.
- Compare live all-in cost during your usual trading hours, not only advertised minimums.
- Confirm deposits, withdrawals, currency conversion and verification requirements.
- Test a demo and use a small amount only if the terms still fit your risk plan.
Short answer
Neither XM nor FxPro is automatically the right choice because a headline spread, a famous brand, or a large maximum-leverage number says little about the account you will actually receive. A sound comparison starts with the legal entity offered to your residence, then works outward to the exact account, instrument, platform, funding route, and risk controls. This matters especially where the groups operate several entities: regulatory protections, leverage caps, marketing incentives, and complaint procedures can differ materially.
Detailed comparison#
The practical difference in this comparison is XM broad retail learning path with FxPro multi-platform execution proposition. FxPro may appeal to traders who want to select a platform first and then compare the matching account costs, while XM may appeal to a trader who wants a familiar MetaTrader route, a smaller initial account where available, and structured educational material. These are tendencies, not promises. Platform access, account types, promotions, copy services, and local support can be removed or changed without notice.
Rank the factors before looking at a “winner.” A day trader might place all-in transaction cost and order workflow first. A position trader may care more about overnight financing, swap-free rules, and the quality of contract specifications. A newer trader may put demo access, education, and responsive support above a fractional difference in a marketing spread. An investor using copied strategies must also assess provider selection, drawdown, allocation rules, and the possibility that a strategy can change after being copied.
Example
Assume two EUR/USD accounts show 0.2 pips and 0.0 pips respectively. On a standard lot, one pip is commonly about USD 10, so a 0.2-pip spread is roughly USD 2 before any other charge. If the 0.0-pip account charges USD 7 round turn in commission, the latter can cost more in quiet conditions. If execution, spread widening, or slippage differs, the answer can change again. The meaningful comparison is the observed total cost of your typical trade, not the smallest number in an advert.
Common mistake
Do not compare one broker’s minimum spread with another broker’s average spread, or compare different account tiers as if they were equivalent. Do not infer that a group licence applies to your account. Confirm the entity name in the application and client agreement.
Professional tip
Create a one-page scorecard before funding. Weight entity protection, all-in cost, platform fit, funding reliability, product availability, and support. Record the source URL and date for every figure; broker terms change, and official sites are the source to re-check immediately before opening or adding funds.
Test Real Trading Costs#
Short answer
Use a controlled demo comparison first, then—only if appropriate—a very small live test. Measure your own trading window and instruments. Published “from” prices are not an estimate of every trader’s cost.
Detailed explanation
Cost has at least six components: bid-ask spread, commission, overnight financing or swap-free administration, conversion charges, slippage, and non-trading payment costs. A commission-free account can still be more expensive when its spread is wider. A raw account can be attractive for frequent, liquid-market trading but its commission changes the result. Gold, indices, shares, cryptocurrencies, and less-liquid currency pairs have different point values and may have very different pricing from EUR/USD.
Test at the time you normally trade. Log several market conditions: a liquid session, the session overlap, and a period near a scheduled economic release without deliberately trading the news. Compare the displayed quote, the fill, the time of the fill, and the post-trade commission. Keep position size identical. If your method holds overnight, read the financing schedule and triple-swap convention rather than assuming a swap-free label covers every symbol indefinitely.
| Check | Why it matters | Evidence to keep |
|---|---|---|
| Symbol specification | Contract size and margin alter risk | Platform specification screenshot |
| Live quote and fill | Widening and slippage affect realised cost | Trade history export |
| Commission currency | Affects all-in comparison | Account fee schedule |
| Overnight rule | Can dominate multi-day returns | Swap or Islamic-account terms |
| Funding route | Determines total cash movement | Payment-method terms |
Example
A scalper making twenty round trips can be more sensitive to one extra USD of transaction cost than a trader making one weekly position. Conversely, a swing trader who holds an index CFD for several nights may find that financing matters more than a tight entry spread. The “lower-cost broker” can therefore differ by strategy and instrument.
Common mistake
Never extrapolate a one-minute calm-market quote into a monthly cost forecast. Do not use a demo fill as proof of live execution quality.
Professional tip
Export account history monthly and calculate cost per round trip in account currency. This turns broker selection from a marketing comparison into an auditable decision.
Risk Controls and Leverage#
Short answer
The maximum leverage available is a ceiling, not a target. Select position size from the amount you can lose at the stop-loss, then check whether the account’s margin rules support it.
Detailed explanation
Leverage reduces required margin; it does not reduce the loss created by an adverse price move. Entity-level restrictions may cap retail leverage, and brokers can apply lower leverage by instrument, account equity, market session, or during volatility. Stop-out levels, margin-call policies, negative-balance protection, and guaranteed-stop availability—where offered—must be read in the current legal documents. They are not interchangeable protections.
For a simple risk plan, choose a fixed percentage or cash amount that can be lost per trade. Divide that amount by the distance from entry to stop and the instrument’s value per point to estimate position size. Then reduce the size if correlated positions, event risk, or an uncertain stop execution would make the combined exposure excessive. This calculation is more useful than choosing XM or FxPro based on a headline leverage ratio.
Example
With a USD 1,000 account and a 1% risk limit, the planned loss is USD 10. If a micro-lot’s 50-pip stop represents roughly USD 5, the position can be sized around two micro-lots before costs and execution uncertainty. A 1:500 setting does not change the USD 10 risk; it only changes margin required.
Common mistake
Do not treat negative-balance protection as a trading strategy or assume it applies uniformly to every client, product, or market event. Verify it for the entity serving you.
Professional tip
Set a personal maximum effective leverage below the broker maximum and review it after a losing streak, not after a winning streak.
Before You Deposit#
Use this final checklist: confirm the trading company and regulator in writing; search the regulator’s public register where available; download the client agreement, order-execution policy, risk disclosure, and fee schedule; verify the exact account currency and product list; understand margin call and stop-out mechanics; check the payment method’s name-match rules and third-party charges; and retain screenshots of live terms. Official broker pages, not review articles, are the final source because figures, promotions, and country availability change.
