Best XM Alternatives

logomark Luca Puddu calendar Last Updated: November 2021 timer 4 min read
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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

Table of contents

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 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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73.57% of retail investor accounts lose money

About the Author

Luca Puddu

Broker Expert

Always full of different interests, Luca started to get interested in the field of personal finance in 2014.

His self-taught studies led him year by year to become increasingly interested in the investment field.

To date, Luca actively invests in the stock market and cryptocurrencies, focusing on rising markets and the industries of the future.

His main role at InvestinGoal.com is to analyze and study in the smallest detail the brokers and their platforms, while checking carefully that the information shown by them is genuine.

In this way, he provides readers with a complete and truthful overview of the broker they might be interested in.


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Trading CFDs, FX, and cryptocurrencies involves a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading CFDs with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how CFDs, FX, and cryptocurrencies work. Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Your capital is at risk. The present page is intended for teaching purposes only. It shall not be intended as operational advice for investments, nor as an invitation to public savings raising. Any real or simulated result shall represent no warranty as to possible future performances. The speculative activity in forex market, as well as in other markets, implies considerable economic risks; anyone who carries out speculative activity does it on its own responsibility.
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