Broker comparison
eToro vs XM
eToro is a copy-trading platform with its own app; XM is a MetaTrader broker with a $5 minimum deposit and high offshore leverage.
Terms checked on 3 Nov 2026 against each broker's own website and legal documents
Founded
2007
Trading Point group, Limassol
Minimum deposit
$10 to $10,000 depending on region
$5 (Standard and Ultra Low)
Raw pricing
Not offered for forex
Zero account (EU entity): raw spreads + $3.50 per $100,000 per side
Spread-only pricing
EUR/USD 0.005% per trade (best case), no commission
"As low as 0.8 pips" per XM; not published per account
Platforms
eToro web platform and app (with CopyTrader)
MT4, MT5, XM App
Regulation
FCA (FRN 583263), CySEC (109/10), ASIC (AFSL 491139), FSA Seychelles (SD076)
CySEC (120/10) for EU clients; most other clients join XM Global, regulated in Belize
Maximum retail leverage
30:1 on major pairs
1:30 EU; up to 1:1000 at XM Global
FCA-authorised UK company
Yes (FRN 583263)
No FCA entity listed
Which to choose
eToro suits traders who want to copy others and invest in other assets in one app. XM suits traders who want MetaTrader and a very small first deposit.
eToro has FCA, CySEC and ASIC companies; XM serves EU clients through CySEC and most others through XM Global in Belize.
Read the full eToro review and XM review.
How we chose. These shortlists use published terms only: costs, minimum deposit, platforms and the regulator of the entity you would join. We have not ranked brokers on scores, and the order is not a recommendation for your circumstances. Read our methodology and affiliate disclosure.
CFDs and leveraged forex are complex and carry a high risk of losing money rapidly. Most retail accounts lose money. Only trade with money you can afford to lose.
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Written by the Forex Awards research desk
Guides are checked against current broker documents and regulator rules. Spotted something out of date? Tell us and we will re-check it.
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