Broker comparison
Exness vs XM
Two brokers popular with traders outside the UK, EU and Australia, both offering very high leverage through offshore entities.
Terms checked on 3 Nov 2026 against each broker's own website and legal documents
Founded
2008
Trading Point group, Limassol
Minimum deposit
Varies by account, payment method and region
$5 (Standard and Ultra Low)
Raw pricing
Raw Spread from 0.0 pips + up to $3.50 per side; Zero from 0.0 pips + from $0.05 per side
Zero account (EU entity): raw spreads + $3.50 per $100,000 per side
Spread-only pricing
Pro from 0.1 pips, no commission
"As low as 0.8 pips" per XM; not published per account
Platforms
MT4, MT5, Exness Terminal, Exness Trade app
MT4, MT5, XM App
Regulation
Retail clients are usually onboarded offshore, e.g. FSA Seychelles (SD025); FCA and CySEC entities do not serve retail clients
CySEC (120/10) for EU clients; most other clients join XM Global, regulated in Belize
Maximum leverage (offshore)
Up to 1:Unlimited for small balances
Up to 1:1000 at XM Global
Swap-free
On multiple accounts
On all account types
Which to choose
Exness offers more raw-pricing accounts, including Zero, and its own terminal. XM has a published $5 minimum deposit and an Islamic option on every account.
Both onboard most retail clients through offshore entities, so tier-one protections usually do not apply. Very high leverage magnifies losses; see leverage and margin.
Read the full Exness 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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Put up to three brokers side by side: costs, platforms, leverage and award history.
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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 Spotted something out of date?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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