Broker Overview
XM
XM is a globally recognized retail forex broker that caters primarily to beginner and intermediate traders. Known for its $5 minimum deposit, extensive educational resources, and user-friendly approach to forex trading with comprehensive customer support.
FxPro
FxPro is a UK-based international broker established in 2006, offering multiple trading platforms and account types. Known for its institutional-grade infrastructure, competitive spreads, and professional trading environment while remaining accessible to retail traders.
Regulation Comparison
XM Regulation
- ASIC (Australia)
- CySEC (Cyprus)
- DFSA (Dubai)
- FSCA (South Africa)
- FSC (Belize)
- FSA (Seychelles)
FxPro Regulation
- FCA (UK) - Tier 1
- CySEC (Cyprus)
- FSCA (South Africa)
- SCB (Bahamas)
- FSA (Seychelles)
Note: FxPro holds prestigious FCA regulation with strong client fund protection. Both brokers accept Malaysian traders under international regulations.
Account Types Comparison
XM Account Types
- Standard Account
- Ultra Low Account
- Shares Account
- Islamic (Swap-Free) Option
Min Deposit: $5
FxPro Account Types
- Standard Account
- Raw+ Account
- Elite Account
- cTrader Account
Min Deposit: $100
Verdict: XM has the lowest entry barrier at $5, while FxPro offers more platform variety with moderate $100 minimum.
Spreads & Execution
XM
- EUR/USD: As low as 0.8 pips
- Execution: 100% Market Execution with No Re-quotes and no rejections
- Commissions: No commissions
- Slippage: Minimal; 99.35% of orders executed in under 1 second
FxPro
- EUR/USD: From 0.0 pips
- Execution: Hybrid NDD (Non-Dealing Desk) with Market Execution
- Commissions: $3.5 per side on Elite and Raw+ accounts
- Slippage: Advanced order filtering with high fill rates on cTrader
Winner: FxPro edges ahead with better overall spreads and multiple execution models, though XM remains competitive for beginners.
Trading Platforms
XM Platforms
- MetaTrader 4 (MT4)
- MetaTrader 5 (MT5)
- XM WebTrader
- XM App
FxPro Platforms
- MetaTrader 4 (MT4)
- MetaTrader 5 (MT5)
- cTrader
- FxPro Platform
Advantage FxPro: FxPro continues to lead in platform diversity by offering the cTrader suite, which is highly preferred by scalpers and algorithmic traders, alongside their revamped proprietary FxPro Platform.
Deposits & Withdrawals
XM
- Methods: Malaysian Local Bank Transfers (Instant), Credit/Debit Cards, Skrill, Neteller
- Processing: Instant to 1 hour for local bank transfers and e-wallets
- Fees: Zero deposit and withdrawal fees
- Local Support: Extensive Malaysian support with dedicated local bank options
FxPro
- Methods: Credit/Debit Cards, Skrill, Neteller, PayPal, Bank Wire
- Processing: Within 1 business day for most methods
- Fees: No deposit fees; withdrawal fees may apply depending on the method
- Local Support: Primarily international payment methods with limited local bank integration
Winner XM: For Malaysian users, XM is the clear winner due to its Instant Local Bank Transfer support and zero-fee policy, which are more convenient than FxPro’s international-focused methods.
Customer Support & Education
XM Support
Excellent multilingual support with dedicated beginner assistance. Comprehensive educational program including webinars, video tutorials, and market analysis. Very patient with new trader questions.
- • 24/5 live chat support
- • Extensive education center
- • Daily market analysis
FxPro Support
Professional multilingual support with focus on platform assistance and trading guidance. Balanced approach between educational content and technical support, suitable for intermediate to advanced traders.
- • 24/5 multilingual support
- • Platform training available
- • Market analysis and insights
Detailed Pros & Cons
XM
Pros
- $5 minimum deposit
- Comprehensive education resources
- Beginner-friendly interface
- No commission on standard accounts
- Strong global presence
Cons
- Wider spreads than ECN brokers
- Market maker execution model
- Limited advanced trading tools
- No cTrader platform
FxPro
Pros
- FCA regulation (Tier-1)
- Multiple platform options
- Competitive spreads on cTrader
- Professional execution quality
- Established reputation since 2006
Cons
- Higher minimum deposit than XM
- Commission on ECN accounts
- Less beginner education than XM
- Slower withdrawal processing
Trading Costs Breakdown
| Currency Pair | XM Standard | XM Ultra-Low | FxPro Standard | FXPro cTrader |
|---|---|---|---|---|
| EUR/USD | 1.6 pips | 0.8 pips | 1.2 pips | 0.2 pips + $3.5 per side |
| GBP/USD | 1.8 pips | 0.8 pips | 1.5 pips | 0.4 pips + $3.5 per side |
| USD/JPY | 2.0 pips | 0.8 pips | 1.4 pips | 0.3 pips + $3.5 per side |
| AUD/USD | 2.3 pips | 1.3 pips | 1.6 pips | 0.4 pips + $3.5 per side |
Note: Unlike FxPro's Raw+ account which charges a commission, XM's Ultra Low account is 100% commission-free. This makes XM significantly more cost-effective for retail traders in Malaysia, as you only pay the spread without any hidden per-lot charges.
Final Verdict & Recommendations
For Complete Beginners
XM - Superior education, $5 start, comprehensive support
For Intermediate Traders
FxPro - Multiple platforms, professional environment
For Low-Cost Trading
XM Ultra Low - Better commission structure than FxPro
For Platform Variety
FxPro - MT4, MT5, cTrader, and proprietary FxPro Platform
For Education & Learning
XM - Comprehensive resources and patient support
For Regulation Quality
FxPro - Prestigious FCA regulation
Overall Recommendation:
FxPro wins for: Intermediate traders wanting platform variety and strong regulation
XM wins for: Beginners needing education and experienced traders prioritizing lower costs
Bottom Line: Choose XM for learning or low-cost trading, choose FxPro for professional features