Kraken vs XM 2026: Which Broker is Better?
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 | 4.2/5 ✓ | 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, DFSA, FSC ✓ |
| Platforms | Proprietary Web, Proprietary Mobile | MT4, MT5, Proprietary Mobile |
Kraken is the better choice overall, scoring 4.2/5 vs 3.9/5 on BrokerRank's independent rating. On fees, Kraken offers lower spreads (0.2 pips).
See full side-by-side comparison belowKraken vs XM: Key Differences
Kraken
WinnerXM
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Fees Comparison
Kraken
XM
Lower feesBrokerRank Verdict
Who Should Choose Which?
Kraken
4.2/5
Choose Kraken if you want…
- Higher overall rating (4.2/5)
- Tighter spreads (from 0.2 pips)
- No minimum deposit
XM
3.9/5
Choose XM if you want…
- No per-trade commission
- Higher leverage (up to 1:1000)
- More regulatory licences (5)
- More market types (5)
Also consider
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Both Kraken & XM are available in
Frequently Asked Questions
1Is Kraken better than XM?
Kraken scores higher overall on our independent rating system. Kraken holds a 4.2/5 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.
2Which has lower fees, Kraken or XM?
Kraken offers spreads from 0.2 pips, while XM starts at 0.6 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for Kraken vs XM?
Kraken requires a minimum deposit of $0. XM requires $5.
4Which broker is safer, Kraken or XM?
Kraken is regulated by FCA, CFTC, while XM holds licences from CySEC, DFSA, FSC, FSCA, FSA.
5What trading platforms do Kraken and XM support?
Kraken supports Proprietary Web, Proprietary Mobile. XM supports MT4, MT5, Proprietary Mobile.
6Can I use both Kraken and XM?
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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