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Head-to-head
IG vs XM: fees, regulation and platforms compared
IG and XM side by side on the things that decide which one suits you: who regulates the company you would join, what a trade costs, which platforms you get and whether you can open an account where you live.
Short answer: Choose IG if you value a long track record: IG was founded in London in 1974. Choose XM if you want to start very small: the minimum is $5. Neither of the companies we review accepts US retail forex clients.
IG vs XM at a glance
| IG | XM | |
|---|---|---|
| Regulation of main companies | FCA, ASIC, DFSA | CySEC (EU company), FSC Belize (global company) |
| Minimum deposit | $0 by bank transfer (IG International); cards from $50 | $5 (Standard and Ultra Low) |
| EUR/USD pricing (headline) | From 0.6 pips, spread-only | From 0.8 pips |
| Platforms | IG platform, MT4, ProRealTime | MT4, MT5, XM app |
| US retail forex clients | No (for the CFD business we review) | No |
| Background | Founded 1974, London | Part of the Trading Point group |
| 1-lot EUR/USD round turn at headline prices | about $6 | about $8 |
Round-turn costs use each broker's headline "from" price for 1 standard lot (100,000 units, $10 per pip) including any published commission. Real spreads are often wider. Try your own numbers in our forex cost calculator.
Which should you choose?
Choose IG if:
- you value a long track record: IG was founded in London in 1974
- you are in the UK and want spread betting as well as CFDs
- you want ProRealTime charting
Watch out: MT5 and cTrader are not on its platform list, so EA traders who need MT5 should look elsewhere.
Choose XM if:
- you want to start very small: the minimum is $5
- you want MT4 or MT5 with a simple spread-only account
Watch out: Most non-EU clients join the company licensed in Belize, and in March 2024 the Philippine SEC said XM is not authorised to offer securities to the public there.
Regulation and safety
IG lists FCA, ASIC, DFSA. XM lists CySEC (EU company), FSC Belize (global company). A broker's headline licences do not always cover you: the company that opens your account depends on where you live, and only that company's regulator protects you. Our legal entity guide shows how to check it on the regulator's own register.
Costs
IG: From 0.6 pips, spread-only. XM: From 0.8 pips. Also compare overnight swap rates if you hold trades, and any deposit, withdrawal, inactivity or currency conversion fees. See spreads and commissions explained.
Platforms
IG: IG platform, MT4, ProRealTime. XM: MT4, MT5, XM app. If you run Expert Advisors, check MetaTrader support first; see MT4 vs MT5.
FAQ
Is IG or XM cheaper?
On headline figures, a 1-lot EUR/USD round turn costs about $6 at IG and about $8 at XM. That makes IG cheaper on paper, but headline "from" prices are minimums and real spreads widen at quiet times.
Which is better regulated, IG or XM?
IG: FCA, ASIC, DFSA. XM: CySEC (EU company), FSC Belize (global company). What matters is the company that would hold your account, which depends on where you live.
Do IG and XM accept US clients?
IG: No (for the CFD business we review). XM: No.
What is the minimum deposit at IG and XM?
IG: $0 by bank transfer (IG International); cards from $50. XM: $5 (Standard and Ultra Low).
Which platforms do IG and XM offer?
IG: IG platform, MT4, ProRealTime. XM: MT4, MT5, XM app.
More comparisons
Compare all 11 brokers · Find your broker in two minutes · IG review · XM review · IG vs eToro · IG vs IC Markets · eToro vs XM · Exness vs XM
Sources
- Forex Awards IG review (sources listed there)
- Forex Awards XM review (sources listed there)
Forex and CFDs are leveraged products and most retail accounts lose money. Forex Awards may earn commissions from some links; see our affiliate disclosure. This is general information, not financial advice.