Kraken
XM
VS
Higher Rated
XM
Capital at risk · T&Cs apply
In this comparison of Kraken and XM, we explore two brokers catering to distinct trading needs. Kraken, established in 2011 and based in San Francisco, specialises in cryptocurrency trading, making it ideal for crypto enthusiasts seeking a platform with strong regulatory compliance and fiat on/off ramps. In contrast, XM, founded in 2009 and headquartered in Cyprus, offers a broader range of trading markets including forex, CFDs, and commodities, appealing to traders looking for low minimum deposits and robust educational resources. While Kraken offers limited leverage and higher fees, XM provides a more diverse trading experience with a higher leverage option.
Kraken
XM
| Kraken | XM | |
|---|---|---|
| BrokerRank Score | 3.4/5 | 3.9/5 ✓ |
| Min. Deposit | $0 ✓ | $5 |
| Spread from | 0.2 pips ✓ | 0.6 pips |
| Max Leverage | 1:5 | 1:1000 ✓ |
| Regulation | FCA, CFTC | CySEC, ASIC, FCA ✓ |
| Platforms | Proprietary Web, Proprietary Mobile | MT4, MT5, Proprietary Mobile |
XM is the better choice overall, scoring 3.9/5 vs 3.4/5 on BrokerRank's independent rating. On fees, Kraken offers lower spreads (0.2 pips).
See full side-by-side comparison belowKraken
XM
WinnerKraken
XM
Lower fees
Kraken
3.4/5
Choose Kraken if you want…
XM
3.9/5
Choose XM if you want…
XM scores higher overall on our independent rating system. Kraken holds a 3.4/5 rating vs XM's 3.9/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
Kraken offers spreads from 0.2 pips, while XM starts at 0.6 pips. Check the fees section above for a full breakdown.
Kraken requires a minimum deposit of $0. XM requires $5.
Kraken is regulated by FCA, CFTC, while XM holds licences from CySEC, ASIC, FCA.
Kraken supports Proprietary Web, Proprietary Mobile. XM supports MT4, MT5, Proprietary Mobile.
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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Trading involves risk. Past performance is not indicative of future results. Capital at risk. Full risk disclosure.