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ThinkMarkets
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XM

ThinkMarkets vs XM: which broker is better in 2026?

We compare ThinkMarkets 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, ThinkMarkets edges ahead (3.8/5), but the right choice depends on what matters most to you — check the breakdown below.

Side-by-side comparison

CriteriaThinkMarketsXM
Overall score 3.8 3.6
Regulation & safety 3.5 3.0
Fees & deposit 4.0 3.5
Platform & assets 4.0 4.0
User support 3.5 4.0
Trust score74/10069/100
Minimum depositVaries by account type — check the official siteVaries by account type — check the official site
Demo accountAvailableAvailable
PlatformsThinkTrader, MetaTrader 4, MetaTrader 5MetaTrader 4, MetaTrader 5, XM app
Fee modelThinkZero (raw) or Standard account; competitiveStandard / ultra-low spread; figures vary

Pros & cons

ThinkMarkets
  • FCA/ASIC/CySEC regulation + its own ThinkTrader platform
  • Competitive spreads (ThinkZero raw account)
  • MT4/MT5 available
  • Smaller brand than tier-1 giants
  • Entity availability differs per region
  • Leverage is 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

ThinkMarkets

Regulated by the FCA (UK), ASIC (Australia), CySEC (Cyprus), FSCA (South Africa), FSA (Japan for the related entity). Has its own ThinkTrader platform.

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).