| Feature | XM Trading | FP Markets |
|---|---|---|
| Regulation | ASIC (Australia), CySEC (Cyprus), DFSA (Dubai), FSC (Belize), FSCA (South Africa) | ASIC (Australia), CySEC (Cyprus), FSCA (South Africa), FSA (Seychelles) |
| Foundation Year | 2009 | 2005 |
| Minimum Deposit | $5 | $100 AUD |
| Maximum Leverage | Up to 1:1000 | Up to 1:500 |
| Trading Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5) | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, Iress |
| Tradable Instruments | 1,394 instruments including Forex, Commodities, Indices, Stocks, Cryptocurrencies | Over 10,000 instruments including Forex, Commodities, Indices, Stocks, Cryptocurrencies |
| Account Types | Micro, Standard, Ultra Low, Shares | Standard, Raw (ECN), Iress Standard, Iress Platinum, Iress Premier |
| Spreads | From 0.6 pips on Ultra Low account | From 0.0 pips on Raw account |
| Commission Fees | None on most accounts; $3.5 per lot per side on Zero account | $3.5 per lot per side on Raw account; varies on Iress accounts |
| Deposit & Withdrawal Fees | No fees | No fees |
| Inactivity Fee | $5 monthly after 90 days of inactivity | $10 monthly after 12 months of inactivity |
| Customer Support | 24/5 via live chat, email, phone; supports 25 languages | 24/7 via live chat, email, phone; supports multiple languages |
| Educational Resources | Extensive, including webinars, tutorials, articles | Comprehensive, including webinars, tutorials, articles |
| Research Tools | Daily market analysis, Trading Central, economic calendar | Autochartist, Trading Central, economic calendar |
| Social/Copy Trading | Available via MT4/MT5 platforms | Available via Myfxbook Autotrade |
| VPS Hosting | Available for free with conditions | Available for free with conditions |
| Islamic Accounts | Available | Available |
| Demo Accounts | Available | Available |
| Accepted Clients | Not available to U.S. residents | Not available to U.S. residents |
| Order Execution Type | Market execution, No Requotes | Market execution, No Requotes |
| Execution Speed | < 1 second | < 40ms |
| Scalping & Hedging Allowed | Yes | Yes |
| Algo/EA Trading Supported | Yes (MT4, MT5) | Yes (MT4, MT5, cTrader) |
| Slippage Control | No guaranteed stop-loss | No guaranteed stop-loss |
| Negative Balance Protection | Yes | Yes |
| Available Base Currencies | USD, EUR, GBP, AUD, JPY, CHF, PLN, RUB, HUF, ZAR | USD, EUR, GBP, AUD, CAD, CHF, HKD, SGD, JPY, NZD |
| Deposit Methods | Bank Transfer, Credit/Debit Cards, Skrill, Neteller, Bitcoin, WebMoney, UnionPay | Bank Transfer, Credit/Debit Cards, Skrill, Neteller, PayPal, BPAY, FasaPay, UnionPay, Broker-to-Broker |
| Withdrawal Processing Time | 24 hours | Same day for e-wallets, 1-2 days for bank transfers |
| Rebate/Bonus Programs | Yes (Loyalty Program, Deposit Bonus) | No |
| Account Segregation | Yes (Client funds held separately) | Yes (Client funds held separately) |
| DMA (Direct Market Access) | No | Yes (Iress Account) |
| Cryptocurrency Trading | Yes (Bitcoin, Ethereum, Litecoin, Ripple) | Yes (Bitcoin, Ethereum, Litecoin, Ripple, more) |
| Stock Trading Availability | Yes, CFDs only | Yes, direct stock trading (Iress) & CFDs |
| ETF Trading | No | Yes (via Iress) |
| Commodities Available | Gold, Silver, Oil, Natural Gas, Agriculture | Gold, Silver, Oil, Natural Gas, Copper, Agriculture |
| Index CFDs | Over 30 indices available | Over 25 indices available |
| Custom Indicator Support | Yes (MT4/MT5) | Yes (MT4/MT5, cTrader) |
| Fractional Shares | No | Yes (Iress) |
| Affiliate/IB Program | Yes | Yes |
| Corporate/Professional Accounts | Yes | Yes |
| VIP/High Volume Accounts | Yes (Custom offers for large traders) | Yes (Iress Premier for high-volume traders) |
| Autochartist Support | No | Yes |
| TradingView Integration | No | Yes |
| Copy Trading Platforms | MT4/MT5 built-in signals | Myfxbook AutoTrade, MQL5, ZuluTrade |
| Mobile Trading Apps | MT4/MT5 mobile apps | MT4/MT5, cTrader, Iress mobile apps |
| Multi-Account Manager (MAM/PAMM) | Yes | Yes |
| Regulatory Compensation Scheme | No | No |
| Stop-Out Level | 20% (Micro/Standard), 50% (Zero/Ultra Low) | 50% (Standard), 20% (Raw) |
| Margin Call Level | 50% | 100% |
| Trailing Stop Feature | Yes (MT4/MT5) | Yes (MT4/MT5, cTrader) |
| Guaranteed Stop-Loss Orders (GSLOs) | No | No |
| FIFO Rule (First In First Out) | No (unless regulated in a specific jurisdiction) | No |
| Weekend Trading | Limited (Cryptos only) | Limited (Cryptos only) |
| Overnight Swap-Free for Certain Assets | Available on Islamic Accounts | Available on Islamic Accounts |
| Dividend Adjustments for Stock CFDs | Yes (applied to long/short positions) | Yes (applied to long/short positions) |
| Index Dividend Adjustments | Yes | Yes |
| Interest on Free Margin | No | No |
| API Trading | No | Yes (via Iress and cTrader) |
| FIX API Access | No | Yes (for professional traders) |
| Market Depth (Level 2 Pricing) | No | Yes (Iress) |
| Depth of Liquidity Providers | Deep liquidity from multiple banks | Deep liquidity from Tier-1 banks & non-bank LPs |
| Spreads on Major Forex Pairs (EUR/USD, GBP/USD, USD/JPY, etc.) | From 0.6 pips (Ultra Low), 1.0 pips (Standard/Micro) | From 0.0 pips (Raw), 1.0 pips (Standard) |
| Max Open Positions & Pending Orders | 200 per account | No limit |
| Lot Size per Trade | 0.01 (Micro), 0.1 (Standard), 1 (Zero) | 0.01 (Standard/Raw), 1 (Iress) |
| Tick Size on Major Pairs | 1.0E-5 | 1.0E-5 |
| Execution Requotes | No | No |
| Slippage Protection Features | No guaranteed protection | No guaranteed protection |
| One-Click Trading | Yes | Yes |
| Account Currency Change After Signup | No (fixed after registration) | No (fixed after registration) |
| Swap-Free Account Restrictions | Cannot hold trades for more than a few days | Holding periods depend on asset class |
| Micro Lot Trading | Yes | Yes |
| Standard Lot Trading | Yes | Yes |
| VIP/Personalized Support for High Volume Traders | Yes (custom conditions apply) | Yes (via Iress Premier) |
| Trading Challenges or Competitions | No | No |
| Broker Assisted Trading | No | No |
| Third-Party Risk Management Tools | Limited | Yes (Autochartist, Risk Manager for Iress) |
| SMS Trade Notifications | No | No |
| Economic News & Live Market Feed | Yes (MT4/MT5) | Yes (MT4/MT5, Iress) |
| Daily Trading Signals | Yes (Trading Central, XM Research) | Yes (Trading Central, Autochartist) |
| Trade Journaling & Performance Analysis Tools | Limited | Yes (cTrader and Iress Analytics) |
| Hedging Restrictions by Region | No (except in some jurisdictions) | No |
| Customizable Leverage Settings | Yes (varies by jurisdiction) | Yes (varies by jurisdiction) |
| Server Locations | London, Amsterdam, New York | London, New York, Asia (for Iress users) |
| Bonus Withdrawal Conditions | Requires specific trading volume | No bonuses offered |
| Loyalty Programs & Cashback Rebates | Yes | No |
| Partnership & Affiliate Programs | Yes | Yes |
| Trading Costs Comparison Tool | No | Yes (via Iress platform) |
| Social Media & Community Trading Engagement | Yes (via MQL5 signals, YouTube Webinars) | Yes (via Myfxbook, ZuluTrade) |
XM Trading offers lower minimum deposits, high leverage, and strong educational resources, while FP Markets provides more trading instruments, DMA access, and advanced trading platforms like cTrader and Iress. Both are well-regulated, support algo trading, and have competitive spreads.