XM
Kraken
VS
Higher Rated
XM
Capital at risk · T&Cs apply
Choosing between XM and Kraken depends on your trading style, preferred markets, and budget. XM is headquartered in Limassol, Cyprus, while Kraken operates from San Francisco, USA. XM has the longer track record, established in 2009, compared to Kraken which was founded in 2011. 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
Kraken
| XM | Kraken | |
|---|---|---|
| BrokerRank Score | 3.9/5 ✓ | 3.4/5 |
| Min. Deposit | $5 | $0 ✓ |
| Spread from | 0.6 pips | 0.2 pips ✓ |
| Max Leverage | 1:1000 ✓ | 1:5 |
| Regulation | CySEC, ASIC, FCA ✓ | FCA, 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, Kraken offers lower spreads (0.2 pips).
See full side-by-side comparison belowXM
WinnerKraken
XM
Lower feesKraken
XM holds licences from ASIC, FCA, CySEC. Kraken is regulated by FCA, CFTC.
XM additionally covers Forex, Cfd, Stocks, Indices, Commodities. Kraken adds Crypto.
On spreads, Kraken is more competitive with EUR/USD spreads from 0.2 pips, compared to 0.6 pips at XM.
XM supports MT4, MT5, Proprietary Mobile. Kraken offers Proprietary Web, Proprietary Mobile. Both brokers are available on Proprietary Mobile.
XM requires a minimum deposit of $5, while Kraken sets no minimum deposit. This makes Kraken accessible to traders with any budget.
BrokerRank scores XM at 3.92/5 and Kraken at 3.37/5, 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…
Kraken
3.4/5
Choose Kraken if you want…
XM scores higher overall on our independent rating system. XM holds a 3.9/5 rating vs Kraken'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 Kraken starts at 0.2 pips. Check the fees section above for a full breakdown.
XM requires a minimum deposit of $5. Kraken requires $0.
XM is regulated by CySEC, ASIC, FCA, while Kraken holds licences from FCA, CFTC.
XM supports MT4, MT5, Proprietary Mobile. Kraken 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.
Only 26% of Brokers Are Truly Fee-Free
BrokerRank Research — Hidden costs across 345 brokers
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.