XM and Exness are popular Forex brokers known for their extensive offerings and trading conditions. XM is recommended for beginners with features like starting trading without depositing funds, while Exness offers high leverage options suitable for more experienced traders. Both brokers are based in Cyprus and provide a range of trading instruments and platforms like MT4 and MT5. XM offers more bonuses and has a lower minimum deposit requirement, making it accessible for new traders. In contrast, Exness provides unlimited leverage and has more flexibility in trading instruments but with certain restrictions.

【Comparison】XM (XMTrading) vs. Exness: Which is Recommended? Which is More Popular?

Comparing XM, ranked first in popularity, with Exness, the world’s number one

XM (XMTrading) and Exness are consistently top-ranked Forex brokers according to Hercules Finance.

If it’s your first Forex broker as a beginner, XM, which allows you to start trading Forex for free without depositing your own funds, is recommended.

Go to XM

For traders who are getting used to Forex, Exness, which allows trading with higher leverage of up to 2.1 billion times (unlimited leverage), is recommended over XM.

Go to Exness

For me, the author, both XM and Exness are indispensable Forex brokers.

Comparison Points between XM and Exness

Below, we compared the differences between the two Forex brokers XM and Exness.

1. How long have they been founded? Which one is older?
2. Which one has more licenses?
3. What kind of sponsorships do they have?
4. Which one offers more bonuses?
5. Is unlimited leverage recommended?
6. Do they support NBP?
7. Which one offers more trading instruments?
8. Can you trade cryptocurrencies?
9. Do they support MT4 and MT5?
10. Which one has more account types?
11. Which one has better trading restrictions and conditions?
12. Which one has a lower minimum deposit?
13. Which one has more methods for deposits and withdrawals?
14. Which one has stricter withdrawal restrictions and conditions?

Beginners in Forex should start with an account at either XM, the most popular among traders, or Exness, which boasts the highest trading volume in the world.

0. Which countries are XM and Exness from?

Both XM and Exness are Forex brokers from the island nation of Cyprus in Europe.

XM (XMTrading) and Exness are not small-scale Forex brokers that occupy just one section of an office building.

Both XM and Exness are major Forex brokers with offices not only in Cyprus but also in other countries.

1. How long have XM and Exness been established? Which one has been in operation longer?

Exness is an older Forex broker than XM.

Exness (Exness) is an older FX broker than XM.

2. How many financial licenses do XM and Exness have? Which has more?

Exness has fewer financial licenses than XM, which holds more financial licenses among FX brokers.

Here are the financial licenses and regulations obtained by the entire XM Group (XM Brand), including XMTrading:

• Seychelles FSA
• Mauritius FSC
• Belize FSC
• Cyprus CySEC
• UK FCA
• Germany BaFin
• Spain CNMV
• Hungary MNB
• Italy CONSOB
• France ACPR
• Finland FSA
• Poland KNF
• Netherlands AFM
• Sweden FI

For details about XM’s financial licenses and regulations, please check the FAQ about XM’s financial licenses and regulations.

List of XM Licenses↗

Here are the financial licenses and regulations obtained by the entire Exness Group:

• Seychelles FSA
• Mauritius FSC
• Cyprus CySEC
• UK FCA
• Virgin BVI FSC
• Curaçao CBCS
• South Africa FSCA
• Kenya CMA

In addition to the above, Exness is a member of The Financial Commission, serving as a consultation window for traders.

List of Exness Licenses↗

3. Which sports teams or organizations do XM and Exness sponsor or partner with?

Here are examples of organizations and institutions that XM (XMTrading) has entered into sponsorship agreements with:

• F1 Visa Cash Up RB
• Athlete Usain Bolt

XM Sponsors Here↗

Here are examples of organizations and institutions that Exness (Exness) has entered into sponsorship agreements with:

• La Liga
• Real Madrid
• F1 Red Bull Racing

Exness also sponsors the FX industry expo, iFX Expo.

Exness Sponsors Here↗

4. Which has more convenient customer support, XM or Exness?

XM has longer customer support hours than Exness.

If you prefer an FX broker with extensive support, the industry-leading XM with a 100-person customer support team is recommended.

Do XM and Exness both have live chat?

Both XM and Exness (Exness) offer customer support via live chat.

XM’s live chat operating hours are 24 hours on weekdays. You can inquire about anything unclear in real-time, even at night.

Go to XM’s Live Chat↗

Exness’s live chat operating hours are from morning until midnight Cyprus time.

Also, when Exness traders contact live chat, they need an account number and personal identification number.

Go to Exness’s Live Chat↗

5. Which offers more bonuses and campaigns, XM or Exness?

If you are choosing an FX broker based on bonuses, XM offers more bonuses than Exness.

XM’s account opening cashback of 50 USD, Exness’s unlimited leverage bonus of 30 USD, Exness’s account opening bonus of 100 USD, and Exness’s 100% deposit bonus are exclusive account opening campaigns from Hercules Finance.

For traders who want to make FX trading more affordable with popular account opening bonuses (no deposit bonuses) and 100% deposit bonuses, XM, which offers all bonuses, is recommended.

What is the account opening bonus that requires no initial capital and 0 USD in personal funds?

For traders who are worried about being able to withdraw profits from FX, take advantage of Hercules Finance’s account opening bonus.

With XM, you can start trading FX and CFDs without personal funds (for free) with a guaranteed account opening bonus.

XM’s account opening bonus (no deposit bonus) is available for a limited time and you can receive over 100 USD.

XM Account Opening Bonus Here

6. Is the unlimited leverage recommended at Exness?

The maximum leverage offered by exness is higher than that of XM (XMTrading).

Click here for exness’s Unlimited Leverage

Be cautious about leverage limits with exness’s Unlimited Leverage

The rules on leverage limits are more lenient with XM (XMTrading) than with exness.

For example, exness can no longer trade with unlimited leverage once the effective margin exceeds $1,000.

Furthermore, exness also imposes leverage limits around economic indicator announcements, before and after trading hours, and just before weekends and right after weekends start.

If you prefer fewer leverage restrictions, XM is recommended.

Click here for XM

7. Do both XM and exness support NBP (Negative Balance Protection)? No additional proof required?

Both XM and exness support NBP, meaning that you cannot go into debt even if you lose in FX.

With both XM and exness, even if your account balance goes below 0 USD (negative balance), you will not go into debt from FX trading.

Which has a lower Stop Out level, XM or exness?

The Stop Out level is lower with exness than with XM (XMTrading).

Exness allows trading until the margin reaches 0 USD.

Furthermore, Exness offers an option service where you are not forced to close out your positions even if your margin goes below 0 USD in negative balance, only when there are sudden large price movements and spreads widen significantly.

8. Who has more tradable instruments, XM or exness?

XM has more categories and instruments available for trading compared to exness.

The number of instruments at XM (XMTrading) is approximately over 1,150 instruments.

CFDs on commodities such as soybeans and coffee, which are not tradable with exness, are available with XM.

View XM’s Instrument List↗

The number of instruments at exness is approximately over 200 instruments.

CFDs on foreign stocks such as US stocks, which were not tradable with XM, are now available with exness.

Now, XM also offers trading of CFDs on US and European stocks.

View exness’s Instrument List↗

Which broker offers more swap-free tradable instruments, XM or exness?

Exness offers more swap-free tradable instruments than XM.

Exness covers more instruments, including US stocks, which are swap-free, but XM has the advantage of having all popular instruments like USDJPY, gold, oil, and the Nikkei Stock Average available for swap-free trading.

The number of swap-free instruments available for trading with XM (XMTrading) is approximately 66 instruments.

With the discontinuation of swap-free status, all traders with exness can now trade up to approximately 136 instruments swap-free, including USDJPY, gold, oil, the Nikkei Stock Average, US stocks, and Bitcoin.

9. Can both XM and exness trade cryptocurrency FX (Crypto Asset CFD)?

Both XM and exness can trade cryptocurrency FX (Crypto Asset CFD).

XM offers higher leverage for cryptocurrency FX than exness.

View XM’s Cryptocurrency List↗

Can XM and exness trade Bitcoin and other cryptocurrencies?

Neither XM (XMTrading) nor exness allow the purchase or sale of cryptocurrencies.

From the end of 2024, XM’s Mauritius brand (Fintrade Limited – regulated by FSC GB20025835) allows deposits and withdrawals in cryptocurrencies.

Exness has a wallet feature that is appreciated by traders knowledgeable about cryptocurrencies. It has a wallet for managing Bitcoin, Tether (USDT), and USD Coin (USDC).

Go to exness’s Cryptocurrency Wallet↗

10. Do both XM and exness support MT4 and MT5?

Both XM and exness can trade using either MT4 or MT5.

Exness’s Web Trader, known as the “Exness Terminal,” allows trading using the popular TradingView chart functionality.

Which official app is more convenient, XM or exness?

Exness’s official app has been discontinued, and now only XM’s official app can be downloaded.

With an XM account, you can make deposits and trades using XM’s official app.

Free Download of XM Official App↗

11. Which broker offers more types of accounts, XM or exness?

Exness offers more types of accounts than XM.

Both XM (XMTrading) and exness offer account types with low trading costs like lowest spreads at 0 pips and no trading fees.

For beginners in FX, XM’s Standard Account, which offers a free account opening bonus and a 100% deposit bonus, is recommended as a start.

Which account type has the narrowest spread and the lowest trading cost?

Below are the top account types known for low trading costs at XM and exness.

Both XM and exness allow traders to choose a trading environment and conditions that match their trading strategies, with different trading costs such as spreads, trading fees, and swap-free options available depending on the account type.

For traders who are not beginners and want to actively use top accounts like for scalping, exness’s Pro Account is recommended for its lower trading costs.

Click here for exness’s Pro Account

Which broker has a narrower spread, XM or exness?

Both XM and exness use a variable spread that changes with market movements.

Spreads always vary with market (price) conditions, so both XM and exness can have narrower or wider spreads at different times.

For example, if you’ve heard that XM has wider spreads because it’s a bonus broker, please open a KIWAMI Extreme Account or an XM Zero Account where the spread becomes narrower when not eligible for bonuses.

Click here for XM’s KIWAMI Extreme Account

12. Which broker has better trading restrictions, trading conditions, or trading rules, XM or exness?

The trading restrictions, conditions, and rules are almost the same for both XM and exness.

With exness, you can do automated trading with copy trading (copy trading) which is not possible with XM.

Click here for exness’s Copy Trade

Which is recommended, XM’s KIWAMI Extreme Account or exness’s Pro Account?

For traders who want to consistently keep trading costs low, Hercules Finance recommends XM’s KIWAMI Extreme Account over exness’s Pro Account, which has a high initial deposit hurdle.

Although exness’s Pro Account offers excellent capital efficiency with unlimited leverage, many leverage restrictions and the occurrence of requotes mean that traders end up bearing hidden costs with exness’s Pro Account.

What is XM’s KIWAMI Extreme Account?

13. Which broker has a lower minimum deposit requirement, XM or exness?

XM has a lower minimum deposit requirement than exness.

If you prefer a Forex account with a lower minimum deposit, XM (XMTrading) is recommended over exness.

List of XM’s Deposit Methods↗

14. Which broker offers more deposit and withdrawal methods, XM or exness?

XM offers more deposit and withdrawal methods than exness.

You can check the latest methods for deposits and withdrawals on XM’s My Page (my.xmtrading.com) and exness’s Personal Area (my.exness.com).

You can also deposit into your XM trading account using Apple Pay and convenience store payments.

Traders wanting to deposit cryptocurrency with XM, be cautious

Traders who want to deposit cryptocurrencies like Bitcoin, Tether, or USD Coin into FX broker XM (XMTrading) must choose the brand ‘Fintrade Limited — regulated by FSC GB20025835’ during account opening.

• Tradexfin Limited — regulated by FSA SD010 (Seychelles)
• Fintrade Limited — regulated by FSC GB20025835 (Mauritius)

You cannot change XM’s brand later. If you choose Seychelles, you currently cannot deposit cryptocurrencies into XM.

XM Account Opening Page Here

15. Which broker has stricter withdrawal restrictions and conditions, XM or exness?

Both XM and exness generally have no withdrawal restrictions or conditions.

Exness offers a higher degree of freedom in choosing withdrawal methods.

Be aware of the $20 USD withdrawal fee when making a bank withdrawal with XM

In the FX broker (Forex Broker/Forex Company) industry, the usual rule for withdrawals is that you can only withdraw using the same method you used for depositing, and you can only make withdrawals exceeding the deposited amount through bank withdrawal.

With XM, the only method through which you can withdraw profits is bank withdrawal. Additionally, if the amount you withdraw via bank wire with XM is less than 4000 USD, a withdrawal fee of 20 USD will apply.

Before worrying about XM’s withdrawal rules, first aim to start FX trading for free with the account opening bonus and make your initial profits.

FAQs to summarize the article

What are the key differences between XM and Exness?

XM is ideal for beginners with lower minimum deposits and extensive bonuses, while Exness offers higher leverage and targets more experienced traders.

Which broker offers better bonuses?

XM offers more substantial bonuses and promotional offers compared to Exness, making it attractive for new traders.

Can both brokers trade cryptocurrencies?

Yes, both XM and Exness offer cryptocurrency trading with different leverage and swap-free options.

Do XM and Exness support MT4 and MT5 platforms?

Yes, both brokers support MetaTrader 4 and MetaTrader 5 platforms, providing versatile trading solutions.

Which broker has a lower minimum deposit requirement?

XM has a lower minimum deposit requirement, making it more accessible for beginners compared to Exness.

What leverage options do XM and Exness offer?

Exness offers higher leverage options up to unlimited, whereas XM provides more conservative leverage settings.

Which broker is better for professional traders?

Exness might be more suitable for professional traders due to its higher leverage options and less restrictive trading conditions.

Are there any specific trading restrictions with either broker?

Both brokers have their specific trading conditions, with Exness providing some restrictions around economic announcements and trading hours.

How do XM and Exness handle withdrawals?

XM and Exness offer multiple withdrawal methods, but XM has a more straightforward fee structure, whereas Exness provides more flexibility with no withdrawal fees.

Which broker offers more trading instruments?

XM provides a broader range of trading instruments compared to Exness, including more options in stocks, commodities, and indices.