When looking for a forex broker, two names that often come up are FBS and XM. Both of these brokers have built strong reputations in the industry, but which one is better for your trading needs? In this detailed comparison, we’ll take a closer look at FBS vs XM to help you make an informed decision.
This table gives a quick, side-by-side comparison of key features.
| Feature | FBS | XM |
|---|---|---|
| Founded | 2009 | 2009 |
| Regulation | CySEC, IFSC | ASIC, CySEC, IFSC |
| Account Types | Cent, Micro, Standard, ECN | Micro, Standard, XM Zero |
| Minimum Deposit | $1 (Cent Account) | $5 |
| Platforms | MT4, MT5, FBS Trader App | MT4, MT5, XM Mobile App |
| Leverage | Up to 1:3000 | Up to 1:888 |
| Spreads | From 0.1 pips (ECN Account) | From 0.0 pips (XM Zero) |
| Bonuses | 100% deposit bonus, No deposit | $30 no deposit, Loyalty program |
| Customer Support | 24/7 via live chat, email, phone | 24/5 via live chat, email, phone |
| Educational Resources | Webinars, tutorials, ebooks | Webinars, video tutorials |
Overview of FBS and XM
FBS
FBS is a popular forex and CFD broker founded in 2009. It serves millions of traders around the world, offering a variety of account types, trading platforms, and educational resources. FBS is known for its competitive spreads, flexible leverage options, and user-friendly interface.
XM
XM was established in 2009 and has since grown into one of the leading forex brokers globally. With a focus on providing a robust trading experience, XM offers a range of trading tools, low spreads, and a highly responsive customer support system. They are also well-regulated, which adds to their credibility.
Regulation and Safety
FBS Regulation
FBS is regulated by several reputable authorities, including:
- CySEC (Cyprus Securities and Exchange Commission)
- IFSC (International Financial Services Commission)
These regulations ensure that FBS complies with strict financial standards, making it a trustworthy broker for global traders.
XM Regulation
XM is also regulated by multiple authorities, including:
- ASIC (Australian Securities and Investments Commission)
- CySEC
- IFSC
Being regulated by strong regulatory bodies like ASIC and CySEC makes XM a safe and reliable broker.
Verdict: Both FBS and XM are well-regulated brokers, so safety should not be a major concern with either.
Account Types and Minimum Deposit
FBS Account Types
FBS offers a variety of account types, which include:
- Cent Account (Minimum deposit $1)
- Micro Account (Minimum deposit $5)
- Standard Account (Minimum deposit $100)
- ECN Account (Minimum deposit $1,000)
These account types cater to both beginners and experienced traders. The Cent and Micro accounts are particularly useful for new traders as they allow trading with very low risk.
XM Account Types
XM offers three main account types:
- Micro Account (Minimum deposit $5)
- Standard Account (Minimum deposit $5)
- XM Zero Account (Minimum deposit $100)
The Micro and Standard accounts have low minimum deposits, making them accessible for beginners, while the XM Zero account offers tighter spreads but with a small commission.
Verdict: FBS offers more variety in account types, but both brokers are beginner-friendly with their low minimum deposits.
Trading Platforms
FBS Trading Platforms
FBS provides traders with access to:
- MetaTrader 4 (MT4)
- MetaTrader 5 (MT5)
- FBS Trader (Mobile App)
Both MT4 and MT5 are highly regarded for their reliability, extensive charting tools, and custom indicators. The FBS Trader app is designed for traders who prefer trading on the go.
XM Trading Platforms
XM also offers:
- MetaTrader 4 (MT4)
- MetaTrader 5 (MT5)
- XM Mobile App
Like FBS, XM offers the widely used MT4 and MT5 platforms, as well as a mobile app that is optimized for trading on mobile devices.
Verdict: Both brokers offer the same leading trading platforms, so there is no clear winner here.
Spreads and Commissions
FBS Spreads
FBS offers tight spreads, which vary depending on the account type:
- Cent Account: Starting from 1.0 pips
- Standard Account: Starting from 0.5 pips
- ECN Account: Starting from 0.1 pips + commission
The spreads on the ECN account are particularly attractive for professional traders.
XM Spreads
XM is known for offering competitive spreads as well:
- Micro and Standard Accounts: Starting from 1.0 pips
- XM Zero Account: Starting from 0.0 pips + commission
The XM Zero account provides tight spreads, which is great for traders looking to minimize their costs.
Verdict: Both brokers offer low spreads, but FBS may have the edge for professional traders with its ECN account.
Leverage
FBS Leverage
FBS offers highly flexible leverage options, depending on the account type and your region. The maximum leverage can go as high as 1:3000, which is one of the highest in the industry.
XM Leverage
XM provides maximum leverage of 1:888, which is lower than FBS but still quite high compared to other brokers.
Verdict: FBS wins in terms of leverage, but traders should be cautious about using high leverage as it increases risk.
Bonuses and Promotions
FBS Bonuses
FBS is well-known for its generous bonuses, including:
- 100% deposit bonus
- No deposit bonus
- Loyalty programs
These bonuses can be appealing, especially for new traders looking to boost their capital.
XM Bonuses
XM also offers some attractive bonuses, such as:
- $30 no deposit bonus for new traders
- Loyalty program
However, the bonus offers may vary depending on your location due to regulatory restrictions.
Verdict: Both brokers offer bonuses, but FBS has more variety in its promotional offers.
Customer Support
FBS Customer Support
FBS offers 24/7 customer support via:
- Live chat
- Phone
Their support team is available in multiple languages, making it easy for traders worldwide to get assistance.
XM Customer Support
XM provides 24/5 customer support through:
- Live chat
- Phone
Although XM’s support is not available on weekends, they are known for their quick response times and multilingual assistance.
Verdict: FBS has an edge with its 24/7 customer support, while XM provides reliable service during the week.
Educational Resources
FBS Educational Resources
FBS offers a wide range of educational materials, including:
- Webinars
- Tutorials
- Ebooks
- Market analysis
These resources are ideal for beginner traders looking to improve their skills.
XM Educational Resources
XM also provides a rich library of educational content, such as:
- Live webinars
- Video tutorials
- In-depth market analysis
Both brokers are committed to helping traders grow their knowledge.
Verdict: Both FBS and XM excel in educational resources, making them great choices for beginners.
Conclusion
Both FBS and XM are excellent brokers with their own strengths. If you are looking for higher leverage and more account types, FBS might be the better choice for you. On the other hand, XM offers lower minimum deposits and tight spreads on its Zero account, making it attractive for cost-conscious traders.
In the end, the choice between FBS vs XM depends on your individual trading style, needs, and preferences. Both brokers are reliable, regulated, and provide a solid trading experience.
By comparing these two brokers across different factors, you can make a more informed decision about which one suits your trading goals. Whether you choose FBS or XM, both offer excellent services that can help you succeed in the forex market.
Editorial Staff at Chweya is a team of financial experts led by Vincent Nyagaka, with over 9 years of experience in finance, commerce, forex, crypto, and marketing. Started in 2014, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.