Best XM Alternatives
XM is one of the best online brokers in the forex trading scene. Since inception, this broker has created a huge impact on the market. In terms of user-friendliness and reliability, XM ranks very high. It gives other online brokers a run for their money. It is not only customer-friendly, it accommodates both experienced and newbie traders into its fold.
XM has great trading platforms with also parades a number of trading tools and indicators, which you can use to maximize your stay on the FX market. Take a look at our XM review for more information.
However, there are XM alternatives on the market that offer similar trading features. Below are the top 10 XM alternatives that you may consider using to access the fx. On the table, we have highlighted why these brokers made our list.
| XM Alternatives | Alternative for: | Minimum Deposit |
|---|---|---|
| Pepperstone | Spread Betting, Scalping, PAMM Account | $0* |
| XTB | Low Spreads, great number of CFD assets | $0 |
| eToro | Copy Trading, Real shares trading, Crypto Trading | $200 |
| Plus500 | Unlimited demo, number of CFD assets | $100 |
| AvaTrade | Spread Betting, Fixed Spreads | $100 |
| FXTM | Low spreads, Account types choice | $10 |
| FBS | Low spreads, Account types choice | $1 |
| FxPro | Spread Betting, Unlimited demo, PAMM Account | $100 |
| FP Markets | Real shares trading, PAMM Account | $100 |
| Markets.com | Spread Betting, Real shares trading | $100 |
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
XM Low Spread Alternatives
It is important to partner with an online broker that offers a low spread. The reason being that low spread will leave more profit in your trading account. You can read our guide on the Top Lowest Spread Forex Brokers to make an informed .
| Broker | Minimum Deposit | Avg. Spreads EUR/USD |
|---|---|---|
| Pepperstone | $0 | 0.09 pips |
| XTB | $0 | 0.9 pips |
| FXTM | $10 | 0.1 pips |
| FBS | $1 | 0 pips |
| FxPro | $100 | 0.31 pips |
| FP Markets | $100 | 0.5 pips |
XM Copy Trading Alternatives
Copy Trading is the practice of “copying” the trading strategies of professional traders. In essence, this means, if the professional trader makes a profit, you will also make a profit since you are using the same trading strategies. However, if the market goes south and the professional trader loses money, you are also bound to lose money.
Therefore, it is important to choose a reliable trader that has been on the market for decades. Do not just copy the trades of any random trader, it should be someone you know his/her track records. You can read our guide on the Top 10 Copy Trading Best Platforms to make your decision.
| Broker | Minimum Deposit | Copy Trading Platforms |
|---|---|---|
| eToro | $200 | WebTrader |
| Pepperstone | $0 | DupliTrade, myfxbook |
| AvaTrade | $100 | ZuluTrade, DupliTrade |
| FXTM | $10 | WebTrader |
| FBS | $1 | WebTrader |
XM Spread Betting Alternatives
If you care about spread betting as a retail trader, these 4 XM alternatives for spread betting are a perfect place to begin. More so, you can take a look at our Top 10 Uk Spread Betting Forex Brokers for more information on these brokers.
| Broker | Minimum Deposit | Minimum Bet |
|---|---|---|
| Pepperstone | $0 | £0.2 |
| AvaTrade | $100 | 0.10 per points |
| FxPro | $100 | N/A |
| Markets.com | $100 | N/A |
XM CFD Assets Alternatives
CFD is an acronym for “contract for difference”. In its simplest form, CFD means speculating on the price differential of an asset without directly owning the underlying asset.
This concept is a great way to earn potential income if you put your art together. The two XM alternatives for CFD trading are a good platform to get started.
| Broker | Minimum Deposit | Number of CFD Assets |
|---|---|---|
| XTB | $0 | 1500+ |
| Plus500 | $100 | 2000+ |
Choosing a XM Alternative: main perks and characteristics
XM is a Market Maker broker with only CFDs. It offers nano lot trading (Micro/Ultra-Low accounts). If you are a newbie, XM offers an unlimited demo account, where you can practice your trading skills and strategies before upgrading to a live account. It also offers low spreads starting from 0 pips. There is also a low minimum deposit starting from $5.
XM offers 1150+ stocks, as CFDs make the offer quite good. On top of that, its educational section is top-notch. You can learn the nitty-gritty of the forex market relying on the educational resources you’d have from this section. For more information about this online broker, take a look at our XM review.
What is XM missing?
As with other online brokers, XM lacks some important features. We will highlight those features in this section. You can check the top 10 best forex brokers to know what are the best brokers in the world.
- XM is not fca regulation
- Not available in the USA
- Not available in Canada
- Spread betting
- cTrader trading platform
XM Alternatives Comparison
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
| Feature | Minimum Deposit | Low Spreads from 0 pips | Copy Trading | Spread Betting | Execution |
|---|---|---|---|---|---|
| XM | $5 | Yes | No | No | Market Maker |
| Pepperstone | $0* | Yes | Yes | Yes | ECN/STP |
| XTB | $0 | Yes | No | No | DMA |
| eToro | $200 | No | Yes | No | STP-Market Maker |
| Plus500 | $100 | No | No | No | Market Maker |
| AvaTrade | $100 | No | Yes | Yes | Market Maker |
| FXTM | $10 | Yes | Yes | No | ECN |
| FBS | $1 | Yes | Yes | No | ECN/STP |
| FxPro | $100 | Yes | No | Yes | NDD |
| FP Markets | $100 | Yes | No | No | ECN/STP-DMA |
| Markets.com | $100 | No | No | Yes | Market Maker |
*200$ suggested by Pepperstone
XM Alternatives FAQ
What is XM’s best alternative?
The overall best XM alternatives is Pepperstone. In terms of scalping, the best XM alternatives is still Pepperstone. However, in terms of copy trading, eToro takes the lead. Pepperstone remains the best XM alternative for spread betting. Then, for CFD assets and characteristics, we give it to XTB.
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