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Similar EU Brokers · April 2026

Best Alternatives to XM in 2026

Five EU-regulated forex brokers with overall scores closest to XM. Compare before you commit.

Quick Answer

The top 3 alternatives to XM are FP Markets, OANDA, and Capital.com.

All three are EU-regulated brokers with overall scores within 0.5 points of XM. See the full comparison below.

ESMA Risk 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 understand how CFDs work and whether you can afford to take the high risk of losing your money.

Why people look for XM alternatives

Traders typically evaluate alternatives to XM for one or more of the following reasons:

  • Lower total trading cost — tighter spreads or cheaper commissions, especially for high-volume traders.
  • Stronger regulatory tier — moving to a broker with BaFin or FCA oversight for extra peace of mind.
  • Different platform needs — access to cTrader, TradingView, or a proprietary mobile app that XM doesn't offer.
  • Wider instrument universe — more stocks, indices, commodities, or crypto CFDs.
  • Better educational resources — structured courses, webinars, and beginner-friendly content.
  • Improved customer support — faster response times, multilingual staff, or extended coverage hours.

Top 5 Alternatives to XM

Ranked by similarity to XM's overall score.

  1. 1

    FP Markets

    8.7/10

    FP Markets combines ECN-style raw pricing ($3/lot commission) with cTrader availability and CySEC regulation, ideal for cost-conscious EU traders.

    Why consider FP Markets: lower overall fees, wider platform choice, faster execution

    Min deposit
    $50
    EUR/USD
    0.0 pips
    Regulator
    CySEC
    Platforms
    4
    Read ReviewCompare to XM
  2. 2

    OANDA

    8.6/10

    OANDA is a veteran forex broker since 1996, known for transparent pricing, flexible lot sizes, excellent research tools, and a long track record of reliability.

    Why consider OANDA: lower overall fees, stronger regulation, wider platform choice

    Min deposit
    None
    EUR/USD
    0.6 pips average
    Regulator
    FCA
    Platforms
    4
    Read ReviewCompare to XM
  3. 3

    Capital.com

    8.6/10

    Capital.com is an AI-driven broker offering 3,000+ commission-free instruments, an award-winning app, and FCA/CySEC regulation for EU traders.

    Why consider Capital.com: lower overall fees, wider platform choice, more instruments

    Min deposit
    €20
    EUR/USD
    0.6 pips average
    Regulator
    FCA
    Platforms
    4
    Read ReviewCompare to XM
  4. 4

    Exness

    8.8/10

    Exness is a CySEC-regulated broker with ultra-tight pricing, instant withdrawals, and one of the highest monthly trading volumes in the industry ($4T+).

    Why consider Exness: lower overall fees, wider platform choice, faster execution

    Min deposit
    $10
    EUR/USD
    0.0 pips
    Regulator
    CySEC
    Platforms
    4
    Read ReviewCompare to XM
  5. 5

    XTB

    8.8/10

    XTB is a publicly listed Polish broker with an award-winning xStation platform, commission-free stock investing, and some of the best educational content in Europe.

    Why consider XTB: lower overall fees, stronger regulation, wider platform choice

    Min deposit
    None
    EUR/USD
    0.1 pips
    Regulator
    KNF
    Platforms
    2
    Read ReviewCompare to XM

Full Comparison Table

XM alongside the top 5 alternatives.

BrokerScoreFeesRegulationMin DepositEUR/USD
XM (current)8.78.29.0$50.6 pips
FP Markets8.79.28.5$500.0 pips
OANDA8.68.39.2None0.6 pips average
Capital.com8.68.89.0€200.6 pips average
Exness8.89.38.8$100.0 pips
XTB8.88.59.3None0.1 pips

Frequently Asked Questions

What are the best alternatives to XM in 2026?
The top 3 alternatives to XM in 2026 are FP Markets, OANDA, Capital.com. All are EU-regulated forex brokers with overall scores within 0.5 points of XM across fees, platforms, regulation, and execution.
Why might I look for a XM alternative?
Traders commonly seek alternatives to XM for reasons such as wanting lower spreads, stronger regulation, a wider platform selection (like cTrader or TradingView), better mobile apps, more instruments, or region-specific features. Comparing against 5 similar brokers helps you find the best fit for your personal trading style.
Is XM regulated in the EU?
Yes, XM is regulated by CySEC (Cyprus), ASIC (Australia), IFSC (Belize) and is fully ESMA-compliant. All alternatives listed on this page are also EU-regulated and offer negative balance protection for retail clients.
Which XM alternative is cheapest?
Among the top 5 alternatives to XM, the broker with the highest fees score (cheapest) is Exness. Always compare spreads, commissions, swaps, and withdrawal fees together rather than looking at spread alone.
Can I open an account with multiple brokers?
Yes. Many active traders maintain accounts with two or more EU-regulated brokers simultaneously to diversify counterparty risk, access different platforms, or take advantage of different pricing models. There is no regulatory restriction on the number of retail broker accounts you can hold within the EU.
Are the listed alternatives also EU-regulated?
Yes, every alternative listed on this page is regulated by at least one recognised EU authority (CySEC, BaFin, FCA, AMF, CONSOB, CNMV, or KNF). They all comply with ESMA rules on leverage, negative balance protection, and client fund segregation.

Still considering XM?

Read our full XM review or visit the broker to see the latest offer.

Read XM ReviewVisit XM

CFD Risk 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 understand how CFDs work and whether you can afford to take the high risk of losing your money.

This website is for informational purposes only. The content does not constitute investment advice. Trading leveraged products carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results. EU retail leverage limits apply (ESMA): up to 30:1 on major FX pairs, 20:1 on minor FX, 20:1 on major indices, 10:1 on commodities, 5:1 on equities, 2:1 on crypto.