XM vs Exness 2026: Regulation, Accounts, Costs and Leverage
Updated
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XM and Exness both offer very low minimum deposits and very high leverage through offshore entities for clients outside Europe. XM's Cyprus and Dubai entities serve retail clients, while Exness's European entities do not, which is why XM scores higher on regulation in our reviews. Exness has slightly lower published spreads on its Standard account and 24/7 support; XM offers bonuses on its Standard account.
XM vs Exness: scores by criterion
| Criterion | XM | Exness |
|---|---|---|
| Regulation and client protection (30%) | 5 / 5 ✓ | 2 / 5 |
| Trading costs (20%) | 4 / 5 | 4 / 5 |
| Deposits and withdrawals (15%) | 4 / 5 ✓ | 3 / 5 |
| Execution and platforms (15%) | 4 / 5 | 5 / 5 ✓ |
| Accounts and products (10%) | 3 / 5 | 4 / 5 ✓ |
| Transparency and support (10%) | 4 / 5 ✓ | 3 / 5 |
Scores follow our review methodology; each comes from the full XM review and Exness review.
Key differences
| XM | Exness | |
|---|---|---|
| Regulators | CySEC (Cyprus), DFSA (Dubai, UAE), FSC (Belize) | FSA (Seychelles), CBCS (Curaçao and Sint Maarten), FSC (British Virgin Islands), CySEC (Cyprus) |
| Entity for most global clients | XM Global Limited, FSC (Belize) | Exness (SC) Ltd, FSA (Seychelles) |
| Negative balance protection (global entity) | Yes | Yes |
| Max leverage on majors | 1000:1 (by entity) | Unlimited (by entity) |
| Minimum deposit | $5 | $10 |
| Account types | Standard, Ultra Low, Shares | Standard, Pro, Raw Spread, Zero |
| Raw spread + commission account | Yes | Yes |
| Platforms | MetaTrader 4, MetaTrader 5, XM app | MetaTrader 4, MetaTrader 5, Exness Terminal, Exness Trade app |
| Not available in | Canada, Cuba, Iran, Israel, North Korea, Syria, United States | 130 countries and territories (full list in the review) |
Is XM or Exness safer?
XM’s group includes Trading Point of Financial Instruments Ltd, licensed by CySEC for EU clients, and Trading Point MENA Limited, licensed by the DFSA with an endorsement for retail clients; most clients elsewhere use XM Global Limited in Belize. Exness serves retail clients through offshore entities only, mainly Exness (SC) Ltd in Seychelles. Both state that they offer negative balance protection to all clients and hold client money in segregated accounts: negative balance protection.
XM vs Exness: which costs less?
On published figures, XM’s Ultra Low account has spreads as low as 0.8 pips with no commission (about $8 per standard lot of EUR/USD) and Exness’s Standard account a published average of about 0.8 pips (also about $8). Exness also offers Raw Spread and Zero accounts with commission, from a $200 deposit; XM’s forex accounts are spread-only.
XM vs Exness: which suits which trader?
- Smallest first deposit: XM, from $5 (Exness from $10).
- Commission-based raw spreads: Exness (Raw Spread and Zero accounts).
- EU residents: XM, through its CySEC entity; Exness does not accept retail clients from Europe.
- Bonuses: XM Global offers them; bonuses are not a reason to choose a broker on their own: how to choose a forex broker.
Comparisons and rankings
Frequently asked questions
Is XM better than Exness?
In our reviews XM scores 4.2 and Exness 3.3 out of 5. XM's CySEC and DFSA entities serve retail clients, while Exness serves retail clients only through offshore entities.
Which has a lower minimum deposit, XM or Exness?
XM, from $5 on its Standard and Ultra Low accounts; Exness starts at $10 on its Standard account.
Does XM or Exness offer a bonus?
XM Global advertises bonuses on its Standard account; bonus terms can restrict withdrawals. We did not find bonuses on Exness's account pages.