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Head to head

Orbex vs XM

Orbex is licensed by FSC Mauritius in Mauritius (international clients), and also has an offshore registration. XM is licensed by CySEC in the European Union, DFSA in the United Arab Emirates (DIFC) and FSCA in South Africa. The licence that applies to you depends on where you live, so check which company you would contract with before comparing anything else.

Minimum deposits start at $100 at Orbex and $5 at XM. Both offer negative balance protection and segregated client money.

Facts last checked: Orbex on 20 October 2026, XM on 20 October 2026.

Orbex profileXM profile
Broker 1
Broker 2
Broker 3

Monthly cost uses the account chosen in each slot: cost per lot × your lots. Swap and other fees are extra. The lowest monthly cost is highlighted only as a fact about cost, not as a recommendation.

Broker
OrbexRegulatedRead the profile
XMStrictly regulatedRead the profile
Comparing
OrbexMauritius (international clients)
XMEuropean Union

Overview

Founded
2011
2009
Headquarters
Ebène, Mauritius
Not yet checked
Official websites
  • orbex.com
  • xm.com
  • trading-point.com
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
Orbex Global Ltd
Trading Point of Financial Instruments Ltd
Regulator
FSC Mauritius
Mauritius (international clients)
CySEC
European Union
Regulation level
Regulated
Strictly regulated
Licence number
C118023330 (SEC-2.1B Investment Dealer)
Check the register
120/10
Check the register
Clients this company serves
International clients; Orbex's trading terms name Orbex Global Limited as the counterparty
Residents of EU and EEA countries (CySEC lists xm.com and trading-point.com as its approved domains)
All licences held
  • FSC Mauritius (Mauritius (international clients))
  • FSA Seychelles (Seychelles (international clients))
  • CySEC (European Union)
  • DFSA (United Arab Emirates (DIFC))
  • FSCA (South Africa)
Segregated client money
Yes
Yes
Negative balance protection
Yes
Yes
Compensation scheme
None
ICF (Cyprus) for eligible clients of Trading Point of Financial Instruments Ltd; none named for XM Global Limited

Costs

Your monthly cost
No accounts listed
No accounts listed
Cost per lot (EUR/USD)
No accounts listed
No accounts listed
Spread from
No accounts listed
No accounts listed
Typical EUR/USD spread
No accounts listed
No accounts listed
Commission per lot (round turn)
No accounts listed
No accounts listed
Typical GBP/USD spread
Not yet checked
Not yet checked
Typical USD/JPY spread
Not yet checked
Not yet checked
Typical XAU/USD spread
Not yet checked
Not yet checked
Swap-free account
Yes
Yes

Leverage and margin

Maximum retail leverage
Up to 1:500 (1:30 by default when the account is opened)
Up to 1:1000 (XM Global Limited); EU retail clients are limited to 1:30 on major pairs
Retail leverage by asset class
  • All CFDs, up to 19.99 lots open: Up to 1:500
  • All CFDs, 20 to 39.99 lots open: 1:300
  • All CFDs, 40 lots or more open: 1:100
Not yet checked
Margin call level
100%
Not yet checked
Stop-out level
20%
Not yet checked

Account

Minimum deposit (this account)
No accounts listed
No accounts listed
Base currencies
No accounts listed
No accounts listed
Execution
No accounts listed
No accounts listed

Platforms and features

Platforms
  • MetaTrader 4
  • MetaTrader 5
  • MT4 and MT5 web terminals
  • Orbex mobile app
  • FIX API
  • MetaTrader 4
  • MetaTrader 5
  • XM App
Markets
400+ CFDs on forex, stocks, metals, indices, energies and futures
Currency pairs, indices, commodities and share CFDs; real shares on the Shares account
Demo account
Yes
Yes
Copy trading
Yes
Yes
Expert advisors (automated trading)
Yes
Yes
News trading allowed
Yes
Not yet checked
Guaranteed stops
Not yet checked
Not yet checked

Deposits and withdrawals

Deposit methods
  • Visa
  • Mastercard
  • Skrill
  • Neteller
  • Perfect Money
  • UnionPay
  • Bank wire
  • Local payment methods
Not yet checked
Withdrawal fee
0% from Orbex on cards and e-wallets listed on its funding page
Not yet checked
Inactivity fee
Not yet checked
Not yet checked

Support

Customer support
24/5 live chat, email and phone, plus call-back requests
Not yet checked

Our notes

Strengths
  • Orbex Global Ltd is on the FSC Mauritius register as an investment dealer (SEC-2.1B), licensed since 7 January 2019
  • Says client money is held separately from company money and offers negative balance protection on all accounts
  • Commission-free Starter account from $100, and raw-spread accounts with a published per-lot commission
  • MetaTrader 4 and 5, a FIX API and PAMM accounts
  • Low minimum deposit of $5 on the Standard and Ultra Low accounts
  • Negative balance protection on all accounts, according to XM's account page
  • EU clients can contract with a CySEC-licensed company (licence 120/10)
Watch out for
  • Its CySEC licence (124/10, ORBEX Ltd) is shown on the CySEC register as under examination for voluntary renunciation, so new clients are not covered by EU rules or the Cyprus compensation fund, even though the website still mentions the ICF
  • The website names several operating companies (Orbex Global Ltd in Mauritius, Orbex Limited in Seychelles, an Orbex Limited registered in Saint Lucia and Orbex LLC in St Vincent); check which one is named in your agreement
  • Leverage up to 1:500, far above the 1:30 cap that applies in the UK and EU
  • The spreads it publishes are minimums ("as low as"); typical spreads are not published
  • XM's global site names XM Global Limited, which it says is regulated by the FSC of Belize (licence 8557558). We could not confirm this licence on the Belize FSC's online register on 2026-10-20, so we do not list it.
  • Leverage of up to 1:1000 on the global site magnifies losses as much as gains
  • The Standard account is marketed with deposit bonuses; read the bonus terms before you accept one
  • XM no longer holds a UK licence (the FCA register shows its passport as cancelled) and its former Australian company now trades as Trading.com Markets

Risk warnings

The buttons to a broker’s website above the table are partner links: we may earn a commission if you open an account through them. That never changes the facts shown here. Trading leveraged products such as forex and CFDs carries a high risk of losing money rapidly, and most retail accounts lose money. Each broker’s own warning:

  • Orbex: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
  • XM: Risk Warning: Our services involve a significant risk and can result in the loss of your invested capital.

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Other head-to-head pages

Cost per lot is the typical EUR/USD spread in busy hours × $10, plus any round-turn commission, for one standard lot. “Not yet checked” means we have not confirmed that fact yet. This page compares facts; it does not rank the brokers or recommend either. Confirm costs and licences on each broker’s site and the regulator’s public register before opening an account: see how we review brokers and check a broker yourself.

Nothing on this page is financial advice. Read the full disclaimer.

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