Exness vs XM: costs, licences and which suits new traders
Exness vs XM pits a raw-pricing specialist with African licences against a low-entry broker known for teaching. XM lists a USD 5 minimum and live trading rooms, while Exness holds licences in Kenya and South Africa and charges no inactivity fee. Your choice depends on whether learning or local regulation matters most to you.
Updated . Figures come from both brokers' pages and published pricing data.
Exness and XM on one table
The table sets published figures side by side, with green marking the better number where both have one. Exness's minimum changes by region, so that row shows no winner, though XM's USD 5 listing is hard to beat. Exness lists an unlimited leverage setting on its international pages, and XM reaches 1:1000 at XM Global.
Those leverage numbers are maximums at offshore companies, and a small account should stay far below them. Forex range favours Exness, with 78 pairs against XM's 54. XM's total list runs to 1,583 symbols, while Exness Terminal shows 239, so a trader wanting share CFDs gets more at XM.
| Measure |  Exness |  XM |
|---|---|---|
| Founded | 2008 | 2009 |
| Licences | FSA-SC, CBCS, FSC-BVI, FSC-BZ, VFSC, FSC-MU, CMA, JSC, FSCA, CySEC, FCA | CySEC, ASIC |
| Minimum deposit | By region | USD 5 |
| Max leverage | 1:Unlimited | 1:1000 |
| Account types | Standard, Pro, Zero, Raw Spread | Standard, Ultra Low, Zero |
| Platforms | MetaTrader 4, MetaTrader 5, Exness Trade app, Exness Terminal | MetaTrader 4, MetaTrader 5 |
| Copy trading | MetaTrader 5 signals | Yes |
| Swap-free | Yes | Yes |
| Published deposit methods | Debit card, Credit card, Bank wire, Crypto, Skrill, Neteller | Bank wire, Credit card, Debit card, Skrill, Neteller |
Which broker has stronger African licences?
Exness clearly leads here. Exness (KE) Limited holds CMA licence 162 in Kenya, and Exness ZA (PTY) Ltd holds FSP 51024 in South Africa. We cannot confirm a licence in those countries for XM, whose African clients mostly sit with an offshore company.
XM's parent, Trading Point Group, holds CySEC cover and further licences through its Trading.com brand, and those protect clients of those companies. XM also appears on India's RBI Alert List and in a 2024 Philippine SEC advisory, and Exness appears in a Philippine advisory too. In Nigeria and Ghana, both reach you through offshore arms.
Licence cover is the first line to read on either agreement.
Raw Spread vs Ultra Low costs
Exness Raw Spread quotes from 0 pips and charges up to USD 3.50 per side, or USD 7 per round trip at most.
XM Zero charges the same USD 7, starting near 0.7 pips all-in. On a full lot, these two are level. The difference lies in spread-only accounts, and in what a new trader opens by default.
XM Ultra Low averages 1.1 pips, about USD 11 per lot, and XM Standard averages 2.0 pips, about USD 20. Exness Standard starts from 0.2 pips and Pro from 0.1 pips, though those are starting values and not averages. Record live spreads on both demos before you trust the comparison.
Inactivity fees and small balances
XM charges USD 10 a month once an account has been dormant for 90 days. Exness has no inactivity fee, so a trader who pauses for months keeps their balance. A USD 50 XM balance left alone disappears within 5 months of the fee starting, so plan accordingly.
XM's USD 5 entry is better on paper for a tiny start, and Exness's figure changes by region, with published reviews listing USD 100. Neither sum will hold a real position for long. Use the lot size calculator to see how much your risk rule needs, because that number should decide your first deposit.
XM live rooms vs Exness tools
XM wins on teaching. Live trading rooms run nearly around the clock in several languages, and its Tradepedia course tracks your progress. Exness offers limited education and focuses on trading tools.
Exness wins on execution polish. Its Terminal lets you drag stops before entry, and its app sizes orders from a dollar risk figure. XM's new platform also uses TradingView charts with 100 indicators and drag-to-modify orders, and it puts Reuters headlines on the trade ticket. Both run MT4 and MT5.
XM's course path gives a beginner far more structure, and a first-time trader will feel that in the first month.
Exness or XM for your first account?
Seen this way, Exness vs XM is really local licensing against live teaching.
Choose XM if you are new, want to learn with live presenters, and accept an offshore company. Open Ultra Low and not Standard. Choose Exness if you live in Kenya or South Africa, trade forex actively, and want a local regulator. Exness also suits traders who step away often, since dormancy costs nothing.
Read the full Exness review and XM review for more detail, or use our broker comparison table to see other options. Try both on demo during your usual hours before funding either.
Withdraw USD 10 early at whichever you choose, because that test tells you how the route behaves.
Short answers on Exness and XM
Which is cheaper, Exness or XM?
On a full lot with a commission, both reach about USD 7 per round trip. XM Ultra Low averages 1.1 pips with no commission, and Exness Standard starts from 0.2 pips. Record live spreads on a demo before you decide.
Is XM or Exness safer in Africa?
Exness holds licences in Kenya and South Africa, so clients there can have a local regulator. We cannot confirm the same for XM. In Nigeria and Ghana, both reach clients through offshore companies with lighter oversight.
Which has a lower minimum deposit?
XM lists USD 5. Exness says its minimum changes by region and method, and published reviews list USD 100. Neither small sum will hold a position with a stop for long, so plan on USD 50 to USD 100 at least.
Does XM or Exness charge for inactivity?
XM charges USD 10 a month once an account has been dormant for over 90 days. Exness has no inactivity fee, so it suits traders who pause for long stretches.