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Swissquote
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XM

Swissquote vs XM: which broker is better in 2026?

We compare Swissquote and XM — two forex & CFD brokers — side by side across regulation, fees, platforms, minimum deposit, and our editorial scores. Based on our overall editorial score, Swissquote edges ahead (3.9/5), but the right choice depends on what matters most to you — check the breakdown below.

Side-by-side comparison

CriteriaSwissquoteXM
Overall score 3.9 3.6
Regulation & safety 4.5 3.0
Fees & deposit 3.0 3.5
Platform & assets 4.0 4.0
User support 4.0 4.0
Trust score81/10069/100
Minimum depositVaries by account type — check the official siteVaries by account type — check the official site
Demo accountAvailableAvailable
PlatformsAdvanced Trader, MetaTrader 4, MetaTrader 5, Mobile appMetaTrader 4, MetaTrader 5, XM app
Fee modelTends toward premium (higher fees than pure forex brokers) in exchange for bank status & security; exact figures not yet verifiedStandard / ultra-low spread; figures vary

Pros & cons

Swissquote
  • FINMA-licensed Swiss bank + public company (SIX: SQN) — top-tier institutional safety
  • Multi-asset: forex/CFDs, stocks, ETFs, bonds, crypto in one place
  • Platform choice: Advanced Trader + MT4/MT5
  • Fees tend toward premium (not the cheapest) — you 'pay' for bank-grade security
  • Less suitable for cost-sensitive scalpers
  • Leveraged products are high-risk
XM
  • Very large client base, strong multilingual education & support
  • MT4/MT5 + many instruments
  • CySEC license for the EU entity
  • Many retail clients via the offshore entity (Belize) — weaker protection
  • Standard spread is not the cheapest
  • Leverage is high-risk

Regulation at a glance

Swissquote

Swissquote Bank Ltd is a licensed bank supervised by FINMA (Switzerland); other entities are supervised by the FCA (UK), DFSA (Dubai), MAS (Singapore), and others. Publicly listed on the SIX exchange (SQN) — high financial transparency.

XM

Trading Point group — regulated by CySEC (Cyprus), ASIC (historically), DFSA (Dubai), FSC (Belize), FSCA (South Africa). Many retail clients via the offshore entity (Belize).