Choose Windsor Brokers if you want…
MENA and African traders wanting a long-established, multi-licensed CySEC broker with a swap-free option.
Windsor Brokers
⭐ 3.5 / 5
VS
XM
⭐ 4.5 / 5
Windsor Brokers vs XM — which broker is better in 2026?
We compared Windsor Brokers and XM across five core criteria: regulation, minimum deposit, spreads, platform choice, and overall user rating. XM wins on more criteria (3 categories vs 1), making it the stronger default for most traders. Both brokers remain reputable, independently tier-1 regulated options.
| Windsor Brokers | XM | Winner | |
|---|---|---|---|
| Rating | ⭐ 3.5 / 5 | ⭐ 4.5 / 5 | XM |
| Regulators | CySEC, FSC Mauritius, JSC Jordan, CMA Kenya | CySEC, ASIC, IFSC, DFSA | Tie |
| Min. deposit | $100 | $5 | XM |
| Spreads from | 0.0 pips (Zero) | 0.6 pips (Ultra Low) | Windsor Brokers |
| Max. leverage | 1:30 (EU) / 1:1000 | Up to 1:30 (EU retail) / 1:1000 (offshore) | — |
| Platforms | MT4, MT5 | MT4, MT5, XM WebTrader, XM Mobile | XM |
| Founded | 1988 | 2009 | — |
| HQ | Limassol, Cyprus | Limassol, Cyprus | — |
Pros & cons compared
Windsor Brokers pros
- ✓ Established in 1988 — one of the oldest CySEC-regulated brokers
- ✓ Strong MENA and Africa licensing including Jordan (JSC) and Kenya (CMA)
- ✓ Zero-spread account option for cost-sensitive traders
- ✓ Swap-free Islamic account available on the Prime account
Cons
- ✗ Inactivity fees apply to dormant accounts
- ✗ Lower brand visibility in Western retail markets
- ✗ Top leverage and the Zero account come from offshore/region-specific entities
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
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 — Windsor Brokers or XM?
Based on five comparison criteria (regulation, deposit, spreads, platforms, overall rating), XM wins 3 categories. That makes it the stronger default choice — though both brokers remain reputable, independently tier-1 regulated options.
Is Windsor Brokers more regulated than XM?
Windsor Brokers holds licenses from: CySEC, FSC Mauritius, JSC Jordan, CMA Kenya. 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 Windsor Brokers vs XM?
Windsor Brokers spreads start from 0.0 pips (Zero). XM spreads start from 0.6 pips (Ultra Low). Actual spreads vary by account type and market conditions.
Which has a lower minimum deposit, Windsor Brokers or XM?
Windsor Brokers: $100. XM: $5. XM has the lower entry barrier.
