Choose FP Markets if you want…
Australian + EU traders wanting deep equity CFD coverage via IRESS plus ECN FX execution from a dual-tier-1 broker.
FP Markets
⭐ 4.5 / 5
VS
XM
⭐ 4.5 / 5
FP Markets vs XM — which broker is better in 2026?
We compared FP Markets and XM across five core criteria: regulation, minimum deposit, spreads, platform choice, and overall user rating. FP Markets wins on more criteria (2 categories vs 1), making it the stronger default for most traders. Both brokers remain reputable, independently tier-1 regulated options.
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| FP Markets | XM | Winner | |
|---|---|---|---|
| Rating | ⭐ 4.5 / 5 | ⭐ 4.5 / 5 | Tie |
| Regulators | ASIC, CySEC, FSCA, FSA SVG | CySEC, ASIC, IFSC, DFSA | Tie |
| Min. deposit | $100 | $5 | XM |
| Spreads from | 0.0 pips (Raw) | 0.6 pips (Ultra Low) | FP Markets |
| Max. leverage | Up to 1:30 (EU retail) / 1:500 (offshore) | Up to 1:30 (EU retail) / 1:1000 (offshore) | — |
| Platforms | MT4, MT5, cTrader, IRESS, FP Markets Mobile | MT4, MT5, XM WebTrader, XM Mobile | FP Markets |
| Founded | 2005 | 2009 | — |
| HQ | Sydney, Australia | Limassol, Cyprus | — |
Pros & cons compared
FP Markets pros
- ✓ Founded 2005 — 20+ year operating history
- ✓ ASIC + CySEC dual tier-1 regulation
- ✓ Raw account: 0.0 pips + $3/lot commission per side
- ✓ Five platforms incl. IRESS — DMA access to ASX & global equities
- ✓ 10,000+ share CFDs across 9 international exchanges
Cons
- ✗ $100 minimum deposit higher than budget brokers
- ✗ Smaller brand than IC Markets / Pepperstone
- ✗ IRESS platform has steeper learning curve than MT4
XM pros
- ✓ $5 minimum deposit — the lowest in the regulated peer group
- ✓ Industry-leading educational content (XM Live webinars, daily research)
- ✓ Multi-jurisdictional regulation: CySEC, ASIC, IFSC, DFSA
- ✓ Strong MENA presence with Arabic platform + local payment methods
- ✓ Negative balance protection on all account types
Cons
- ✗ Spreads on Standard account (1.6+ pips) are uncompetitive vs ECN brokers
- ✗ EU leverage capped at 1:30 retail (ESMA rules)
- ✗ Limited cTrader availability — MT4/MT5 only
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Which one should you choose?
Choose XM if you want…
Beginners, low-deposit traders, and education-focused traders, especially in MENA and Asia.
Frequently asked questions
Which is better — FP Markets or XM?
Based on five comparison criteria (regulation, deposit, spreads, platforms, overall rating), FP Markets wins 2 categories. That makes it the stronger default choice — though both brokers remain reputable, independently tier-1 regulated options.
Is FP Markets more regulated than XM?
FP Markets holds licenses from: ASIC, CySEC, FSCA, FSA SVG. XM holds licenses from: CySEC, ASIC, IFSC, DFSA. Both brokers have the same number of regulatory licenses; the specific regulators differ.
What are the spreads at FP Markets vs XM?
FP Markets spreads start from 0.0 pips (Raw). XM spreads start from 0.6 pips (Ultra Low). Actual spreads vary by account type and market conditions.
Which has a lower minimum deposit, FP Markets or XM?
FP Markets: $100. XM: $5. XM has the lower entry barrier.