XM
Firstrade
VS
Higher Rated
XM
Capital at risk · T&Cs apply
Choosing between XM and Firstrade depends on your trading style, preferred markets, and budget. XM is headquartered in Limassol, Cyprus, while Firstrade operates from New York, USA. Firstrade has the longer track record, established in 1985, compared to XM which was founded in 2009. This in-depth comparison covers regulation, fees, platforms, markets, and overall ratings to help you decide which broker is the better fit in 2026.
XM
Firstrade
| XM | Firstrade | |
|---|---|---|
| BrokerRank Score | 3.9/5 ✓ | 3.4/5 |
| Min. Deposit | $5 | $0 ✓ |
| Spread from | 0.6 pips | 0 pips ✓ |
| Max Leverage | 1:1000 ✓ | 1:2 |
| Regulation | CySEC, ASIC, FCA ✓ | SEC, CFTC |
| Platforms | MT4, MT5, Proprietary Mobile | Proprietary Web, Proprietary Mobile |
XM is the better choice overall, scoring 3.9/5 vs 3.4/5 on BrokerRank's independent rating. On fees, Firstrade offers lower spreads (0 pips).
See full side-by-side comparison belowXM
Firstrade
XM
Firstrade
Lower feesXM holds licences from ASIC, FCA, CySEC. Firstrade is regulated by SEC, CFTC.
Both brokers offer access to Stocks, Indices markets. XM additionally covers Forex, Cfd, Commodities.
On spreads, Firstrade is more competitive with EUR/USD spreads from 0.0 pips, compared to 0.6 pips at XM.
XM supports MT4, MT5, Proprietary Mobile. Firstrade offers Proprietary Web, Proprietary Mobile. Both brokers are available on Proprietary Mobile.
XM requires a minimum deposit of $5, while Firstrade sets no minimum deposit. This makes Firstrade accessible to traders with any budget.
BrokerRank scores XM at 3.92/5 and Firstrade at 3.41/5, based on 50+ data points covering regulation, fees, platforms, markets, and user experience. XM leads overall with a clear advantage.
XM
3.9/5
Choose XM if you want…
Firstrade
3.4/5
Choose Firstrade if you want…
XM scores higher overall on our independent rating system. XM holds a 3.9/5 rating vs Firstrade's 3.4/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
XM offers spreads from 0.6 pips, while Firstrade starts at 0 pips. Check the fees section above for a full breakdown.
XM requires a minimum deposit of $5. Firstrade requires $0.
XM is regulated by CySEC, ASIC, FCA, while Firstrade holds licences from SEC, CFTC.
XM supports MT4, MT5, Proprietary Mobile. Firstrade supports Proprietary Web, 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.