XM vs Kraken 2026: Which Broker is Better?
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 | 4.3/5 ✓ |
| Min. Deposit | $5 | $0 ✓ |
| Spread from | 0.6 pips | 0.2 pips ✓ |
| Max Leverage | 1:1000 ✓ | 1:5 |
| Regulation | CySEC, DFSA, FSC ✓ | FCA, CFTC |
| Platforms | MT4, MT5, Proprietary Mobile | Proprietary Web, Proprietary Mobile |
Kraken is the better choice overall, scoring 4.3/5 vs 3.9/5 on BrokerRank's independent rating. On fees, Kraken offers lower spreads (0.2 pips).
See full side-by-side comparison belowXM vs Kraken: Key Differences
XM
Kraken
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Fees Comparison
XM
Lower feesKraken
Regulation & Trust
XM holds licences from ASIC, FCA, CySEC. Kraken is regulated by FCA, CFTC.
Markets & Assets
XM additionally covers Forex, Cfd, Stocks, Indices, Commodities. Kraken adds Crypto.
Fees & Spreads
On spreads, Kraken is more competitive with EUR/USD spreads from 0.2 pips, compared to 0.6 pips at XM.
Trading Platforms
XM supports MT4, MT5, Proprietary Mobile. Kraken offers Proprietary Web, Proprietary Mobile. Both brokers are available on Proprietary Mobile.
Minimum Deposit
XM requires a minimum deposit of $5, while Kraken sets no minimum deposit. This makes Kraken accessible to traders with any budget.
Overall Ratings
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.
BrokerRank Verdict
Who Should Choose Which?
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)
Kraken
4.3/5
Choose Kraken if you want…
- Higher overall rating (4.3/5)
- Tighter spreads (from 0.2 pips)
- No minimum deposit
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 & Kraken are available in
Frequently Asked Questions
1Is XM better than Kraken?
Kraken scores higher overall on our independent rating system. XM holds a 3.9/5 rating vs Kraken's 4.3/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
2Which has lower fees, XM or Kraken?
XM offers spreads from 0.6 pips, while Kraken starts at 0.2 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for XM vs Kraken?
XM requires a minimum deposit of $5. Kraken requires $0.
4Which broker is safer, XM or Kraken?
XM is regulated by CySEC, DFSA, FSC, FSCA, FSA, while Kraken holds licences from FCA, CFTC.
5What trading platforms do XM and Kraken support?
XM supports MT4, MT5, Proprietary Mobile. Kraken supports Proprietary Web, Proprietary Mobile.
6Can I use both XM and Kraken?
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
Key Trading Terms
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