XM vs Phillip Nova 2026: Which Broker is Better?
Choosing between XM and Phillip Nova depends on your trading style, preferred markets, and budget. XM is headquartered in Limassol, Cyprus, while Phillip Nova operates from Singapore. Phillip Nova has the longer track record, established in 2005, 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
Phillip Nova
| XM | Phillip Nova | |
|---|---|---|
| BrokerRank Score | 3.9/5 ✓ | 3.4/5 |
| Min. Deposit | $5 | $0 ✓ |
| Spread from | 0.6 pips | 0.6 pips |
| Max Leverage | 1:1000 ✓ | 1:20 |
| Regulation | CySEC, DFSA, FSC ✓ | MAS |
| Platforms | MT4, MT5, Proprietary Mobile | Proprietary Web, Proprietary Mobile, POEMS |
XM is the better choice overall, scoring 3.9/5 vs 3.4/5 on BrokerRank's independent rating. On fees, XM offers lower spreads (0.6 pips).
See full side-by-side comparison belowXM vs Phillip Nova: Key Differences
XM
WinnerPhillip Nova
Fees Comparison
XM
Phillip Nova
Regulation & Trust
XM holds licences from ASIC, FCA, CySEC. Phillip Nova is regulated by MAS.
Markets & Assets
Both brokers offer access to Forex, Cfd, Indices, Commodities markets. XM additionally covers Stocks. Phillip Nova adds Crypto.
Fees & Spreads
On spreads, XM is more competitive with EUR/USD spreads from 0.6 pips, compared to 0.6 pips at Phillip Nova.
Trading Platforms
XM supports MT4, MT5, Proprietary Mobile. Phillip Nova offers Proprietary Web, Proprietary Mobile, POEMS. Both brokers are available on Proprietary Mobile.
Minimum Deposit
XM requires a minimum deposit of $5, while Phillip Nova sets no minimum deposit. This makes Phillip Nova accessible to traders with any budget.
Overall Ratings
BrokerRank scores XM at 3.92/5 and Phillip Nova at 3.39/5, 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)
Phillip Nova
3.4/5
Choose Phillip Nova if you want…
- No minimum deposit
- More established (est. 2005)
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 & Phillip Nova are available in
Frequently Asked Questions
1Is XM better than Phillip Nova?
XM scores higher overall on our independent rating system. XM holds a 3.9/5 rating vs Phillip Nova'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 Phillip Nova?
XM offers spreads from 0.6 pips, while Phillip Nova starts at 0.6 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for XM vs Phillip Nova?
XM requires a minimum deposit of $5. Phillip Nova requires $0.
4Which broker is safer, XM or Phillip Nova?
XM is regulated by CySEC, DFSA, FSC, FSCA, FSA, while Phillip Nova holds licences from MAS.
5What trading platforms do XM and Phillip Nova support?
XM supports MT4, MT5, Proprietary Mobile. Phillip Nova supports Proprietary Web, Proprietary Mobile, POEMS.
6Can I use both XM and Phillip Nova?
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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Trading involves risk. Past performance is not indicative of future results. Capital at risk. Full risk disclosure.
Higher Rated
XM
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