Exness vs XM - 2022 Comparison | FX India
AuthorBy Björn Michels
Updated: August 29, 2022

Trading with a reputable online broker is a crucial factor for success in the international markets. At FX India, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

Select brokers to compare

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Overall Rating
Min. Deposit
Regulation
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Pros
Cons
Regulation
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Leverage
Spread
Hedging
Scalping
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.12/ 5 USD 3FSCA Regulated Forex BrokersThe Seychelles Financial Services AuthorityCapital Markets AuthorityMarket MakerCryptocurrencies, Energies, Stock CFDs, Forex, Indices, Metals10034
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • 24/7 customer service
  • Limited education
  • Limited market analysis
  • Unavailable in Europe
Read Review 111003/ 5 111115/ 5 11110.54.5/ 5 11110.54.5/ 5 1110.503.5/ 5 111104/ 5 11110.54.5/ 5 71.67%2000:10.10 pips Pro MT4, Pro MT5, Pro Raw Spread MT5, Pro Raw Spread MT4, Standard Cent MT4, Standard MT4, Standard MT5, Pro Zero MT4 MT4, MT5Ozow, Tether, Bitcoin, Visa, Mastercard, Bank Transfer, Neteller, Skrill, PerfectMoney, WebMoneyFees Included in Spread
11110.54.25/ 5 USD 5CySEC Regulated BrokersASIC Regulated Forex BrokersFCA Regulated BrokersInternational Financial Services CommissionMarket MakerCommodities, Cryptocurrencies, Energies, Stock CFDs, Forex, Indices, Metals5731
  • Well regulated
  • Excellent education
  • Free deposits and withdrawals
  • Dealing desk
  • Wide spreads on its entry-level accounts
Read Review 111104/ 5 11110.54.5/ 5 11110.54.5/ 5 11110.54.5/ 5 111115/ 5 1110.503.5/ 5 111104/ 5 74.07%888:10.60 pips Micro, Standard, XM Ultra Low, XM Zero MT4, MT5Bank Transfer, Mastercard, Visa, Skrill, Neteller7 USD / lot - XM Zero Account

How do XM and Exness stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.

Exness

XM

At FX India, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare XM and Exness, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does XM or Exness have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that XM holds two Tier 1 and one Tier 2 licences, and Exness holds no Tier 1 and no Tier 2 licences.

 

Can I trust XM?

Yes as XM was founded in 2009 and is regulated by ASIC, CySEC, FCA and IFSC.

 

Can I trust Exness?

Yes as Exness was founded in 2008 and is regulated by CMA, FSCA and FSA-Seychelles.

 

Based on these findings, XM earned a higher trust rating than Exness.

Does XM or Exness have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that Exness has overall lower trading costs than XM. 

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Broker
Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
EURUSD (Best)
GBPUSD (Best)
USDJPY (Best)
Commission
Exness
111115/ 5
USD, EUR, GBP, AUD, ZAR, CHF, JPY, NZD, SGD+40
0.70 pips
USD 7
0 pips
0.10 pips
0 pips
USD 0
XM
11110.54.5/ 5
USD, EUR, GBP, JPY, CHF, ‎AUD, HUF, PLN, RUB, SGD, ZAR
1.60 pips
USD 16
0.10 pips
0.20 pips
0.10 pips
USD 0

 

Does XM or Exness offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, XM offers support for MT4 and MT5 and Exness offers support for MT4 and MT5. 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both Exness and XM offer copy trading.

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Broker
Platform Choice
Copy Trading
Platforms
Exness
11110.54.5/ 5
XM
11110.54.5/ 5

 

Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that Exness offers a greater range and depth of instruments to trade than XM. Exness offers 100 Forex pairs to trade and XM offers 57 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, Exness offers 34 cryptocurrencies while XM offers 31 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Exness.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that neither Exness nor XM charges a withdrawal fee. Overall, Exness has better deposit and withdrawal processes than XM. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

XM has better educational support than Exness. Both Exness and XM offer educational support for more experienced traders.

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Broker
Beginner Course
Advanced Course
Well Structured Education
Education Quality
Webinars
Exness
Medium
XM
High

 

Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that XM offers better research analysis than Exness and that both Exness and XM offer frequent webinars.

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Broker
Economic Calendar
Autochartist
Trading Central
Trading View
Free VPS
Exness
XM

 

Our overall Verdict on XM

XM has some of the lowest fees in the industry, provides excellent research and education, and has a beginner-friendly trading app. With a large customer base and a good reputation, XM will be a good option for most Indian traders. It also has an outstanding range of trading tools and offers traders generous bonuses and incentives.

The main drawback is that Indian clients will be trading through XM’s company in Belize, which has poor regulatory oversight.

Our overall Verdict on Exness

Exness is a Russian CFD broker with over 200,000 clients worldwide, offering trading on 100+ Forex pairs, a small range of cryptocurrencies, 70+ stock CFDs, indices, and commodities. Exness has nine account types on the MT4 and MT5 platforms - many more than most brokers. These range from a Standard Cent Account with no minimum deposit to a selection of Pro Accounts with tight spreads, market execution, and minimum deposits starting at 500 USD. 

Deposits and withdrawals are free of charge, and customer service operates 24/7. While Exness’ trading costs are generally below the industry average, its education and market analysis are poor compared to other major brokers.

Which broker has the highest overall rating?

XM has an overall rating of 4.25 and Exness has an overall rating of 4.12. For more detail please read our reviews of XM and Exness.

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Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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