XM vs Firstrade 2026: Which Broker is Better?
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, DFSA, FSC ✓ | 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 vs Firstrade: Key Differences
XM
Firstrade
WinnerFees Comparison
XM
Firstrade
Lower feesRegulation & Trust
XM holds licences from ASIC, FCA, CySEC. Firstrade is regulated by SEC, CFTC.
Markets & Assets
Both brokers offer access to Stocks, Indices markets. XM additionally covers Forex, Cfd, Commodities.
Fees & Spreads
On spreads, Firstrade is more competitive with EUR/USD spreads from 0.0 pips, compared to 0.6 pips at XM.
Trading Platforms
XM supports MT4, MT5, Proprietary Mobile. Firstrade offers Proprietary Web, Proprietary Mobile. Both brokers are available on Proprietary Mobile.
Minimum Deposit
XM requires a minimum deposit of $5, while Firstrade sets no minimum deposit. This makes Firstrade accessible to traders with any budget.
Overall Ratings
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.
BrokerRank Verdict
Who Should Choose Which?
XM
3.9/5
Choose XM if you want…
- Higher overall rating (3.9/5)
- Higher leverage (up to 1:1000)
- More regulatory licences (5)
- More market types (5)
Firstrade
3.4/5
Choose Firstrade if you want…
- Tighter spreads (from 0 pips)
- No minimum deposit
- More established (est. 1985)
Also consider
We earn a commission when you open an account through these links, at no extra cost to you. Our ratings are scored independently — see the full independent ranking.
Both XM & Firstrade are available in
Frequently Asked Questions
1Is XM better than Firstrade?
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.
2Which has lower fees, XM or Firstrade?
XM offers spreads from 0.6 pips, while Firstrade starts at 0 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for XM vs Firstrade?
XM requires a minimum deposit of $5. Firstrade requires $0.
4Which broker is safer, XM or Firstrade?
XM is regulated by CySEC, DFSA, FSC, FSCA, FSA, while Firstrade holds licences from SEC, CFTC.
5What trading platforms do XM and Firstrade support?
XM supports MT4, MT5, Proprietary Mobile. Firstrade supports Proprietary Web, Proprietary Mobile.
6Can I use both XM and Firstrade?
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
Key Trading Terms
Related Guides
More Comparisons
BrokerRank Research
Only 26% of Brokers Are Truly Fee-Free
BrokerRank Research — Hidden costs across our broker database
58% of Brokers Hold a Single Licence
BrokerRank Research — Regulation quality analysis
71% of Retail Traders Lose Money
BrokerRank Research — Loss rates across 50 EU brokers
76% of Brokers Use Proprietary Platforms
BrokerRank Research — MT4 vs MT5 vs proprietary
Trading involves risk. Past performance is not indicative of future results. Capital at risk. Full risk disclosure.
Higher Rated
XM
Capital at risk · T&Cs apply