XM
Wealthsimple
VS
Higher Rated
XM
Capital at risk · T&Cs apply
Choosing between XM and Wealthsimple depends on your trading style, preferred markets, and budget. XM is headquartered in Limassol, Cyprus, while Wealthsimple operates from Toronto, Canada. XM has the longer track record, established in 2009, compared to Wealthsimple which was founded in 2014. 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
Wealthsimple
XM is the better choice overall, scoring 3.9/5 vs 3.2/5 on BrokerRank's independent rating. On fees, Wealthsimple offers lower spreads (0 pips).
See full side-by-side comparison belowOverall Rating
XM
3.9 vs 3.2
Lowest Fees
Wealthsimple
0.6 vs 0 pips
Regulation
XM
3 vs 1 licences
Min. Deposit
Wealthsimple
$5 vs $0
XM
Wealthsimple
XM
Wealthsimple
Lower feesXM holds licences from ASIC, FCA, CySEC. Wealthsimple is regulated by SEC.
Both brokers offer access to Stocks markets. XM additionally covers Forex, Cfd, Indices, Commodities. Wealthsimple adds Crypto.
On spreads, Wealthsimple is more competitive with EUR/USD spreads from 0.0 pips, compared to 0.6 pips at XM.
XM supports MT4, MT5, Proprietary Mobile. Wealthsimple offers Proprietary Web, Proprietary Mobile. Both brokers are available on Proprietary Mobile.
XM requires a minimum deposit of $5, while Wealthsimple sets no minimum deposit. This makes Wealthsimple accessible to traders with any budget.
BrokerRank scores XM at 3.92/5 and Wealthsimple at 3.20/5, based on 50+ data points covering regulation, fees, platforms, markets, and user experience. XM leads overall with a clear advantage.
XM scores higher overall on our independent rating system. XM holds a 3.9/5 rating vs Wealthsimple's 3.2/5. 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 Wealthsimple starts at 0 pips. Check the fees section above for a full breakdown.
XM requires a minimum deposit of $5. Wealthsimple requires $0.
XM is regulated by CySEC, ASIC, FCA, while Wealthsimple holds licences from SEC.
XM supports MT4, MT5, Proprietary Mobile. Wealthsimple 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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BrokerRank Research — MT4 vs MT5 vs proprietary
Trading involves risk. Past performance is not indicative of future results. Capital at risk. Full risk disclosure.