Head to head
XM vs Axi — which broker is better?
XM or Axi? Fees, regulation, platform and product range compared side by side — with a verdict drawn from the data.
Risk warning: CFDs and leveraged products are complex instruments and come with a high risk of losing money rapidly. Investments can fall in value. Past performance is not an indicator of future results.
XM
A teaching-first CFD broker with a USD 5 door and spreads that make you pay for the welcome.
- Stocks (per order)
- in the spread
- Minimum deposit
- US$5
- EUR/USD spread
- 1.6 pips
Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
Axi
A 2007-vintage Australian FX broker that has quietly become one of the better all-round CFD platforms — if you check which entity you sign with.
- Stocks (per order)
- in the spread (CFD)
- Minimum deposit
- US$100
- EUR/USD spread
- 0.7 pips
Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
The verdict in numbers
Four decision axes, each derived from the recorded data.
Overall Axi takes it, 3.9 against 3.7 out of 5. The two pricing models cannot be converted like for like; the fee rows in the table carry the detail. XM scores 74 against 71 out of 100 on the group index. Your account's protection depends on its legal entity. Axi covers more ground with 8 of 14 asset classes against 7. On platform and app Axi is ahead, 4.3 against 3.7 out of 5. Which one is right depends on which of these axes matters for your trading profile.
- XM
- 3.7
- Axi
- 3.9 — Better
- XM
- in the spread
- Axi
- in the spread (CFD)
- XM
- 74 of 100
- Axi
- 71 of 100
- XM
- 7/14
- Axi
- 8/14 — Better
- XM
- 3.7
- Axi
- 4.3 — Better
Compare brokers side by side
Up to four brokers at once — every row a decision point.
Data as of: 30 Aug 2026
| Criterion | XM 3.7 Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money. | Axi 3.9 Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money. |
|---|---|---|
| Overall score | 3.7 | 3.9 — Better |
| Group index | 74 of 100 | 71 of 100 |
| Best for | BeginnersMicro-lot position sizingMultilingual supportLearning by webinarVery small starting capital | Active FX and CFD tradersCopy-trading followers and signal providersTraders chasing funded capitalMulti-currency account holdersMetaTrader EA users |
| Regulation | ASICCySECDFSAFSCAFSC | ASICFCADFSAFSA |
| Top-tier licences | 1 | 2 — Better |
| Investor protection | €20,000 | £85,000 — Better |
| Listed group | No | No |
| Banking licence | No | No |
| Segregated client accounts | Yes | Yes |
| Negative balance protection | Yes | Yes |
| Audited financials | Yes | No |
| Disclosed regulatory actions | None | 1 |
| Founded | 2009 | 2007 |
| Headquarters | Limassol, CY | Sydney, AU |
| Fees | 3.4 | 4.1 — Better |
| Safety & regulation | 3.6 — Better | 3.4 |
| Trading platform | 3.6 | 4.2 — Better |
| Product range | 3.8 — Better | 3.6 |
| Mobile app | 3.7 | 4.3 — Better |
| Research | 3.9 — Better | 3.8 |
| Customer support | 4.3 — Better | 4.2 |
| Deposit & withdrawal | 4.0 | 4.3 — Better |
| Account opening | 4.0 | 4.2 — Better |
| Education | 4.5 — Better | 4.0 |
| Reference order EUR 5,000 | in the spread | in the spread (CFD) |
| Minimum deposit | US$5 — Better | US$100 |
| Stocks (per order) | in the spread | in the spread (CFD) |
| US stocks | in the spread | n/a |
| ETFs | Not offered | in the spread (CFD) |
| Options | Not offered | Not offered |
| Futures | Not offered | Not offered |
| Crypto | in the spread | in the spread |
| Bonds (order) | n/a | n/a |
| Funds (order) | n/a | n/a |
| EUR/USD spread | 1.6 pips | 0.7 pips — Better |
| Index CFD spread | 0.5 points | n/a |
| FX conversion | n/a | n/a |
| Inactivity fee | US$5 · after 3 months | n/a |
| Custody fee | n/a | n/a |
| Withdrawal fee | free | free |
| Deposit fee | free | free |
| Overnight financing | n/a | n/a |
| Other fees |
|
|
| Asset classes (of 14) | 7 | 8 — Better |
| Exchanges | n/a | n/a |
| Stocks | Yes | Yes |
| ETFs | No | Yes |
| Options | No | No |
| Futures | No | No |
| Forex | Yes | Yes |
| CFDs | Yes | Yes |
| Crypto | Yes | Yes |
| Bonds | No | No |
| Funds | No | No |
| Commodities | Yes | Yes |
| Indices | Yes | Yes |
| Warrants | No | No |
| Spread betting | No | No |
| Social trading | Yes | Yes |
| Platforms | MetaTrader 4MetaTrader 5XM WebTraderXM AppXM Copy Trading | Axi Trading PlatformMetaTrader 4MetaTrader 5Axi Copy TradingAxi mobile apps |
| Demo account | Yes | Yes |
| Fractional shares | No | No |
| Maximum leverage | 1:30 · Pro 1:500 | 1:1000 |
| Account opening | Online form in about 10 minutes; document verification usually clears in 1–3 business days, though some regions report up to a week | Fully online with ID and proof-of-address upload; most accounts approved the same or next business day |
| Account types | MicroStandardXM Ultra LowZeroShares | StandardProEliteSwap-free (Islamic) |
| Payment methods | Credit cardDebit cardBank transferSEPASkrillNeteller | Bank transferCredit cardDebit cardSkrillNetellerCrypto |
| Account currencies | USDEURGBPJPYCHFAUDHUFPLN | AUDCADCHFEURGBPHKDJPYNZDPLNSGD+1 |
| Deposit time | Instant for cards and e-wallets; 2–5 business days for bank wire | Instant for cards and e-wallets; 1–3 business days for bank transfer. Local payment rails vary by region. |
| Withdrawal time | Processed within 24 hours; 2–5 business days to reach a bank account | Same-day processing on most methods; 1–3 business days to reach the account |
| Free withdrawals | n/a | n/a |
| Languages | EnglishGermanSpanishFrenchItalianPortugueseRussianArabicChineseJapanese+10 | EnglishGermanSpanishFrenchItalianPortuguesePolishArabicChineseThai+7 |
| Channels | Live chatEmailPhone | Live chatEmailPhoneWhatsApp |
| Availability | 24/7 live chat; phone cover on business days | 24/7 multilingual support, advertised across 17 languages |
Strengths and weaknesses side by side
Editorial assessment based on the recorded data.
XM
A teaching-first CFD broker with a USD 5 door and spreads that make you pay for the welcome.
Pros
- USD 5 minimum deposit on Micro, Standard, Ultra Low and Zero — one of the lowest entry points among multi-regulated brokers
- Zero account prices EUR/USD at 0.0–0.2 pips for USD 3.50 per lot per side (USD 7 round turn), competitive with dedicated ECN brokers
- Around 1,400 tradable instruments including roughly 1,200 share CFDs, 55 FX pairs, 23 cash indices and 40 crypto CFDs
- Education is not decoration: live webinars and seminars run in 30+ languages, backed by a research desk publishing daily market notes
- No deposit or withdrawal fees on the XM side, and cards and e-wallets settle same day
- Five licences across CySEC (120/10), ASIC (443670), DFSA (F003484), FSCA and Belize FSC, with segregated client money and negative balance protection
- 24/7 live chat in more than 30 languages
Cons
- The default Standard and Micro accounts typically quote EUR/USD at 1.6–2.0 pips against an advertised from-1.0 headline — you pay a beginner tax unless you switch tier
- USD 5 per month inactivity fee after 90 days without a trade, which is unusual for a broker that also sells share CFDs to long-term holders
- Most non-EU retail clients are booked to XM Global Limited in Belize, a tier-3 jurisdiction with no investor compensation scheme
- Platform choice is MetaTrader or nothing — no proprietary desktop terminal, no TradingView order routing, and share CFDs exist only on MT5
- No ETFs, no exchange-traded options or futures, no bonds; the range is broad within CFDs and empty outside them
- Trustpilot sentiment sits near 3.8 with a persistent minority reporting withdrawal delays and spread widening around news
Best for
Axi
A 2007-vintage Australian FX broker that has quietly become one of the better all-round CFD platforms — if you check which entity you sign with.
Pros
- Pro account at USD 4.50 round turn per standard lot on 0.0-pip spreads, available from a USD 100 minimum rather than a five-figure balance
- Proprietary Axi Trading Platform covers 650+ markets with TradingView charting built in and true web-to-mobile position sync
- Three distinct crypto routes — CFDs to 200:1, perpetual futures on around 150 coins, and spot crypto you actually own
- Eleven account base currencies including CHF, PLN, HKD, JPY and SGD, which removes a conversion step for non-euro clients
- 24/7 support in 17 languages across live chat, phone, email and WhatsApp — better coverage than most brokers this size
- Axi Select funded-trader programme is free to join, with six stages from USD 5,000 to USD 1,000,000 and profit splits rising to 80%
- Long operating history since 2007 with tier-1 ASIC and FCA licences alongside a DFSA licence in the DIFC
- Copy trading via a dedicated app where copiers control their own sizing and risk rather than buying into a managed pool
Cons
- Most international clients are booked with AxiTrader LLC in St Vincent and the Grenadines — no prudential supervision, no compensation scheme, and The Financial Commission rather than a regulator as escalation
- We found no EEA-licensed Axi entity in its published legal documentation, so EU residents are contracting offshore by default
- An inactivity fee applies after 12 months of dormancy but the amount is disclosed only in the Product Schedule, never on the public fees page
- Leverage up to 1000:1 on the offshore entity, and 200:1 on crypto CFDs, is a retail-harm profile rather than a genuine benefit
- No real shares, no ETF units you can own, no bonds, no funds and no listed options — the equity and ETF range is CFD-only
- No German Abgeltungsteuer or Austrian KESt withholding, and Axi's own UK disclosures show 66–72% of retail accounts losing money
Best for
Open an account with either
A demo account costs nothing and answers the platform question in ten minutes.
Risk warning: CFDs and other leveraged products are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how these products work and whether you can afford to take the high risk of losing your money.
Advertising disclosure: where a partnership is active, we may earn a commission through broker links. The provider’s terms apply. Commissions do not influence our ratings; paid placements are separately labelled as sponsored.
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