Plain-English forex education. No hype, no signals.فارسی
BrokerCutForex Academy

Head to head

WM Markets vs XChief

WM Markets has no licence we could confirm on a regulator's register. XChief has no licence we could confirm on a regulator's register. 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 $50 at WM Markets and $0 at XChief (the xPRIME account needs $500). Both offer negative balance protection and segregated client money.

Facts last checked: WM Markets on 20 October 2026, XChief on 20 October 2026.

WM Markets profileXChief 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
WM MarketsRead the profile
XChiefRead the profile
Comparing
WM Markets
XChiefxPRIME account

Overview

Founded
Not yet checked
Not yet checked
Headquarters
Fomboni, Mwali (Comoros)
Fomboni, Mwali (Comoros)
Official websites
  • wmmarkets.com
  • en.wmmarkets.com
  • xchief.com
Facts last checked
20 October 2026
20 October 2026

Regulation and protection

Company you would contract with
No licence listed
No licence listed
Regulator
No licence listed
No licence listed
Regulation level
No licence listed
No licence listed
Licence number
No licence listed
No licence listed
Clients this company serves
No licence listed
No licence listed
All licences held
None listed
None listed
Segregated client money
Yes
Yes
Negative balance protection
Yes
Yes
Compensation scheme
None
None

Costs

Your monthly cost
No accounts listed
$70$7 per lot × 10 lots
Cost per lot (EUR/USD)
No accounts listed
$7
Spread from
No accounts listed
0.0 pips
Typical EUR/USD spread
No accounts listed
0.1 pips
Commission per lot (round turn)
No accounts listed
$6
Typical GBP/USD spread
Not yet checked
0.3 pips
Typical USD/JPY spread
Not yet checked
0.2 pips
Typical XAU/USD spread
Not yet checked
Not yet checked
Swap-free account
Yes
Yes

Leverage and margin

Maximum retail leverage
Up to 1:2000 (dynamic, set per instrument)
Up to 1:1000 on forex (lower as account equity rises)
Retail leverage by asset class
Not yet checked
  • Forex (equity under $3: 1:1000
  • Metals (equity under $3: 1:500
  • Commodities and indices (equity under $3: 1:50
  • Cryptocurrencies: 1:5
  • US shares: 1:2
Margin call level
100%
Not yet checked
Stop-out level
20%
30% (CENT, Classic+, DirectFX); 50% (xPRIME)

Account

Minimum deposit (this account)
No accounts listed
$500
Base currencies
No accounts listed
USD, EUR, GBP
Execution
No accounts listed
Market execution, MetaTrader 5, $3 / €3 / £3 commission per side on forex and metals

Platforms and features

Platforms
  • MetaTrader 4
  • MetaTrader 5
  • WM Markets mobile app
  • MT4 WebTrader
  • MetaTrader 4
  • MetaTrader 5
  • xChief mobile app
Markets
CFDs on forex, metals, indices, energies, commodities, treasuries, shares, ETFs and cryptocurrencies
Up to 32 currency pairs, metals, commodities, indices, cryptocurrencies and 95 US share CFDs (xPRIME account)
Demo account
Yes
Yes
Copy trading
Yes
Yes
Expert advisors (automated trading)
Not yet checked
Yes
News trading allowed
Not yet checked
Not yet checked
Guaranteed stops
Not yet checked
Not yet checked

Deposits and withdrawals

Deposit methods
Not yet checked
  • Bank transfer (SWIFT
  • SEPA
  • FPS)
  • Cryptocurrency
Withdrawal fee
Not published; the agreement allows transfer-related and termination fees
The deposit page lists 0% for bank transfer and crypto; the agreement allows extra fees if you deposit and withdraw without trading
Inactivity fee
Accounts with no trading for six months are disabled and may pay maintenance charges (amount not published)
$20 one-off, then $20 a month, while an account is inactive

Support

Customer support
24/5 multilingual support by live chat
24/7 by live chat, Telegram, WhatsApp, Viber and email

Our notes

Strengths
  • Negative balance protection is written into the client agreement
  • The agreement says client money is kept apart from the company's own funds
  • Says it holds a client funds insurance policy of up to $1,000,000
  • Four account types, including a cent account with no minimum deposit
  • Negative balance protection and segregated client money are stated in its risk disclosure
  • Leverage is cut automatically as account equity grows, which limits the size of positions on larger accounts
Watch out for
  • Says WM Markets Ltd holds MISA licence BFX2024009; we could not confirm it on MISA's register on 2026-10-20 (the register blocked automated access).
  • The agreement gives the company a lien over client assets and lets it pledge or reinvest assets held for clients
  • Leverage up to 1:2000, and payment methods and withdrawal fees are not listed on the public website
  • Inactive accounts are disabled after six months and may be charged maintenance fees that are not published
  • Says xChief Ltd holds Mwali International Services Authority (MISA) licence T2023379; we could not confirm it on MISA's register on 2026-10-20 (the register blocked automated access).
  • Says xChief ZA (Pty) Ltd is authorised by the FSCA as FSP 54829; we could not confirm it on the FSCA register on 2026-10-20 (the register could not be reached). That company only introduces clients; accounts are opened with xChief Ltd in Comoros.
  • Leverage up to 1:1000 and heavy use of bonuses, no-deposit offers and trading credits
  • Inactive accounts pay $20 and then $20 a month

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:

  • WM Markets: Contracts for Difference (CFD) are complex financial instruments carrying a substantial level of risk and may not be suitable for all investors, as may result in the loss of all invested capital rapidly due to leverage. You should consider whether you understand how CFDs work, your investment objectives, level of experience, risk appetite, and, if necessary, seek advice from an independent financial advisor.

Open this comparison in the full tool to share a link with your own accounts and companies chosen.

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.

BrokerCut on Telegram

Get the latest forex news and market analysis.

Join the channel