XM vs IQ Broker (2026)
We compared XM and IQ Broker on 5 scored categories and more than 40 data points: costs, regulation, platforms, markets, account opening and the countries each broker accepts. XM wins, but IQ Broker is ahead in some situations.
By Broksal Team, investing in forex and CFD markets since 2017. Updated . How we test
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Commissions do not affect our rankings. The order reflects the editorial opinion of our authors, and the facts we publish about regulation, fees and country availability come from the brokers' own documents and independent sources.
Our verdict
XM wins, 4–0 on categories
XM takes this comparison with an overall score of 4.6 against 4.1. It is ahead on regulation & safety, trading costs, platforms & tools and range of markets. 163 countries can open an account with both.
Winner in each category
Safety & regulation
XM
XM scores 4.5 vs 3.6 for safety.
Cheaper EUR/USD trade
XM
IQ Broker publishes only a minimum spread (from 0.8 pips).
Platforms & tools
XM
XM scores 4.7 vs 4.6.
Range of markets
XM
XM scores 4.6 vs 4.0.
Ease of use
Tie
Both score 4.9 for ease of use.
Lower minimum deposit
XM
XM: $5. IQ Broker: $10.
Available in more countries
XM
XM accepts 187 countries, IQ Broker 163.
Scorecard
Each category is scored out of 5; the overall score weights them by importance (methodology).
XMIQ Broker
Fees and trading costs
Published fees, checked 6 October 2026. Sources: fxfan.club – XM spread list (Sept 2026); BrokerAnalysis – IQ Broker fees. A tick marks the better value.
| Feature | XM | IQ Broker |
|---|---|---|
| Account compared | Ultra Low | Standard |
| EUR/USD spread | 1.1 pipsXM's published average✓ | from 0.8 pipsminimum only; average not published |
| Commission | None (in the spread) | None (in the spread) |
| Cost of 1 lot EUR/USDRound turn, spread + commission | $11.00✓ | — |
| Cost of 0.1 lot EUR/USD | $1.10✓ | — |
| Minimum deposit | $5✓ | $10 |
| Withdrawal | No XM fee; XM covers bank charges on wires of $200 or more | First withdrawal each month free; bank wires carry a fee |
| Inactivity fee | $5–10/month after 90 days dormant (sources differ by entity) | €10/month after 90 days without logging in |
| Currency conversion | Not separately published | Not separately published |
XM fees in brief
The Standard account is commission-free with costs built into the spread; the Ultra Low account offers tighter spreads. Swaps apply on positions held overnight. A monthly dormant fee is charged after 90 days of inactivity.
IQ Broker fees in brief
CFD costs are built into the spread, with overnight funding on leveraged positions. An inactivity fee is charged after a period without trading.
Safety and regulation
Who regulates each broker and how its company is run. The safety score carries 30% of the overall score.
| Feature | XM | IQ Broker |
|---|---|---|
| FoundedLonger track record wins | 2009✓ | 2013 |
| Headquarters | Limassol, Cyprus | Limassol, Cyprus |
| Publicly listedListed companies publish audited results | Private (Trading Point group) | Private |
| Regulators | CySEC, DFSA (Dubai), FSC (Belize)✓ | CySEC (licence 247/14) |
| Regulated entities | 3 | 2 |
| Offshore entity for some countriesOffshore clients get weaker protection | Yes | Yes |
| Retail CFD accounts losing moneyLowest figure the broker publishes; shown for transparency, not scored | 75.12% | Not published |
XM: regulated entities
- Trading Point of Financial Instruments LtdCySEC
- Trading Point MENA LimitedDFSA (Dubai)
- XM Global LimitedFSC (Belize)
EU clients are served by Trading Point of Financial Instruments Ltd under CySEC supervision, with ESMA leverage limits and negative balance protection. Clients outside the EU are usually onboarded by XM Global Limited in Belize, where leverage is higher and investor protection is weaker.
IQ Broker: regulated entities
- IQ Option Europe LtdCySEC (licence 247/14)
- IQ Broker international entityOffshore entity
EEA clients trade with IQ Option Europe Ltd under CySEC supervision, with ESMA leverage limits and negative balance protection. Outside the EEA, clients are served by an offshore entity, so protection is weaker.
Platforms and apps
What you trade on. Click a screenshot to enlarge it.
| Feature | XM | IQ Broker |
|---|---|---|
| Platforms | MetaTrader 4, MetaTrader 5, XM app | IQ Broker web platform, Desktop app, Mobile app |
| MetaTrader 4 | Yes✓ | No |
| MetaTrader 5 | Yes✓ | No |
| cTrader | No | No |
| TradingView | No | No |
| Own platform | Yes | Yes |
| Demo account | Yes | Yes |
| Platform score | 4.7✓ | 4.6 |
| Ease of use score | 4.9 | 4.9 |
XM in pictures
XM supports MetaTrader 4 and MetaTrader 5 on desktop, web and mobile, plus its own XM app for account management and trading. MetaTrader gives access to expert advisors, custom indicators and the MQL5 community.
IQ Broker in pictures
IQ Broker's own platform is the main reason to choose it: clear charts, multi-chart layouts and quick order entry that a beginner can learn in minutes. It lacks MetaTrader, automated trading and in-depth research.
Markets you can trade
“Real asset” means you own the shares, ETFs or coins, or trade exchange-listed options and futures. “CFD” means you only trade the price.
| Feature | XM | IQ Broker |
|---|---|---|
| Forex | CFD | CFD |
| Stock indices | CFD | CFD |
| Commodities | CFD | CFD |
| Stocks | Real & CFD | CFD |
| ETFs | No | CFD✓ |
| Crypto | CFD | CFD |
| Options | No | No |
| Futures | No | No |
| Bonds | No | No |
| Asset classes | 5 of 9 | 6 of 9✓ |
| CFDs offered | Yes | Yes |
XM lists: Forex, Indices, Commodities, Stock CFDs, Crypto CFDs, Real shares (Shares account).
IQ Broker lists: Forex CFDs, Stock CFDs, Crypto CFDs, Commodity CFDs, Index & ETF CFDs.
Opening an account, funding and support
How the first steps compare.
| Feature | XM | IQ Broker |
|---|---|---|
| Opening an account | Online sign-up with an ID document and proof of address. EU clients also complete an appropriateness test. The minimum deposit is $5 on Standard and Ultra Low accounts. | Quick sign-up with email. You must verify your identity before your first withdrawal. The minimum deposit is $10 and the demo account is reloadable. |
| Deposits & withdrawals | Cards, bank wire and e-wallets, depending on your country. XM charges no deposit or withdrawal fees and covers bank charges on wires of $200 or more. | Cards, e-wallets and bank transfer depending on your region. Reports say the first withdrawal each month is free and bank wires carry a fee. |
| Customer support | XM advertises 24/7 support by chat, phone and email in more than 30 languages. | In-app chat and email. |
Where each broker accepts clients
The best broker is one that will open an account for you. Counts are based on each broker's published country lists.
| Feature | XM | IQ Broker |
|---|---|---|
| EU & EEA | 30 of 30✓ | 25 of 30 |
| United Kingdom | 0 of 1 | 0 of 1 |
| Gulf & Middle East | 14 of 14✓ | 13 of 14 |
| Rest of Europe | 15 of 15✓ | 9 of 15 |
| Africa | 49 of 49✓ | 42 of 49 |
| Asia | 34 of 39✓ | 30 of 39 |
| Americas | 32 of 35✓ | 31 of 35 |
| Oceania | 13 of 14 | 13 of 14 |
| All countries | 187 of 197✓ | 163 of 197 |
Only XM (24)
🇦🇫 Afghanistan, 🇦🇱 Albania, 🇧🇾 Belarus, 🇧🇪 Belgium, 🇰🇲 Comoros, 🇨🇿 Czech Republic, 🇨🇩 DR Congo, 🇪🇷 Eritrea, 🇪🇹 Ethiopia, 🇭🇹 Haiti, 🇱🇻 Latvia, 🇱🇾 Libya, 🇲🇱 Mali, 🇲🇲 Myanmar, 🇵🇸 Palestine, 🇵🇹 Portugal, 🇷🇺 Russia, 🇸🇸 South Sudan and 6 more
Only IQ Broker (0)
None
Both available in 163 countries. Find your country's ranking
Pros and cons
XM
Pros
- Very low minimum deposit outside the EU
- MT4 and MT5 plus its own mobile app
- Accepts residents of a very wide list of countries
- Standard, Ultra Low and Shares account types
Cons
- Not available in the US, Canada, Israel or the UK
- Most non-EU clients are onboarded by an offshore entity with lighter protection
- Dormant account fee after 90 days without activity
IQ Broker
Pros
- $10 minimum deposit and a reloadable demo account
- Very easy proprietary platform on web, desktop and mobile
- CySEC regulated entity for EEA clients
Cons
- No MetaTrader, limited research tools
- Not available in the US, UK, Canada, Australia and several EU countries
- Clients outside the EEA are served by a lightly regulated entity
Which one should you choose?
Choose XM if…
- Best for: MetaTrader users with small starting balances
- regulation & safety, trading costs, platforms & tools and range of markets matter most to you
- Very low minimum deposit outside the EU
- MT4 and MT5 plus its own mobile app
Skip XM if…
- you live in the US, Canada, the UK or Israel
- you live in India, where XM appears on the RBI Alert List
- you want EU-level protection but would be onboarded by an offshore entity
- you leave accounts idle for months (dormant fee after 90 days)
Choose IQ Broker if…
- Best for: Beginners who want a very simple app and a small first deposit
- $10 minimum deposit and a reloadable demo account
- Very easy proprietary platform on web, desktop and mobile
Skip IQ Broker if…
- you live in the UK, US, Canada, Australia or another excluded country
- you live outside the EEA and would be served by the offshore entity, which has regulator alerts in Malaysia, Singapore and India
- you want MetaTrader or detailed research
XM vs IQ Broker: questions
Is XM better than IQ Broker?
XM wins our comparison with an overall score of 4.6 out of 5 against 4.1 for IQ Broker, and it comes out ahead in 4 of 5 categories (regulation & safety, trading costs, platforms & tools and range of markets). IQ Broker is still the better choice if XM does not accept residents of your country.
Which is cheaper, XM or IQ Broker?
IQ Broker does not publish an average EUR/USD spread, so the costs cannot be compared on the same trade. Compare the fee summaries above instead.
Is XM or IQ Broker safer?
XM scores 4.5 and IQ Broker 3.6 for regulation and safety. XM is regulated by CySEC, DFSA (Dubai) and FSC (Belize); IQ Broker by CySEC (licence 247/14). Neither is publicly listed.
Which has the lower minimum deposit?
XM: $5. IQ Broker: $10.
Can I open accounts with both XM and IQ Broker?
Residents of 163 countries can open an account with both. 24 countries are served only by XM and 0 only by IQ Broker. Your country's ranking shows which brokers accept you.
Do XM and IQ Broker offer MetaTrader?
XM: yes (MetaTrader 4, MetaTrader 5, XM app). IQ Broker: no (IQ Broker web platform, Desktop app, Mobile app).
More comparisons
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. Consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Each broker publishes its own current loss percentage on its website.