Side-by-side
Alpari vs XM Group
Alpari vs XM Group — Direct comparison across cost, regulation, leverage, platforms and operating history.
Tracked byBrokerlist Editorial · Independent review teamUpdated
In short. Choose Alpari if you have $500+ and want commission-based Pro ECN pricing at ~$7.50/lot with 27 years of operating history. Choose XM Group if you want the lowest-friction entry in our list — $5 minimum deposit.
Alpari vs XM Group comparison: fees, licences, platforms
Verdict at a glance
XM Group leads
- Alpari
- ahead on 1 dimension
- XM Group
- ahead on 3 dimensions
- Tied
- 1 tied
Cost per lot
Alpari: $7.50/lot, XM Group: $13.00/lot. Lower at Alpari.
Minimum deposit
Alpari: $500, XM Group: $5. Smaller minimum at XM Group.
Maximum leverage
Alpari: 1:1000, XM Group: 1:1000. Same maximum leverage.
Regulator and licence
Alpari: MISA, XM Group: ASIC, CySEC, IFSC. Stronger licensing at XM Group.
Trading platforms
Alpari: MetaTrader 4, MetaTrader 5, XM Group: MetaTrader 4, MetaTrader 5, Web Trader. Wider platform choice at XM Group.
Pros and cons
Alpari
Pros
- ✓27 years of operating history (founded 1998) — predates most current retail brokers
- ✓Pro ECN: 0.1–0.4 typical spread + $5 round-turn ≈ $7.50/lot — competitive commission tier
- ✓Standard account available at $50 min for lower entry (spread-only ~1.2 pip from)
Cons
- ✕Regulated only by offshore entities (Mauritius / St. Vincent) after losing its FCA licence in 2015 — no tier-1 regulator, no FSCS-equivalent protection
- ✕Pro ECN tier requires $500 minimum deposit — not accessible for small accounts
- ✕Inactivity fee $10/month after period of inactivity
- ✕Not available in 38 jurisdictions (all of EU + UK, US, Japan, Canada, India, Myanmar, OFAC-sanctioned countries)
XM Group
Pros
- ✓$5 minimum makes starting cheap
- ✓Well-made educational content for beginners
Cons
- ✕Standard account EUR/USD spread 1.0–1.6 pip (broker-published range) + $0 commission ≈ $13/lot — one of the highest costs in our list
- ✕Inactivity fee ~$5/month after extended inactivity
- ✕EU retail routed to stricter CySEC branch; XM Global offshore entity handles higher-leverage non-EU flow
- ✕Does not accept US, Canada, Israel, or Iran residents (broker states other restrictions exist but does not enumerate)
Who should choose which
Choose Alpari if:
- ✓You have $500+ and want commission-based Pro ECN pricing at ~$7.50/lot with 27 years of operating history
- ✓You're in a jurisdiction outside EU/UK/US/Japan/Canada where Alpari's MISA (Comoros) entity onboards you
- ✓You want offshore high-leverage access (up to 1:3000 on Standard) at a legacy retail brand
Choose XM Group if:
- ✓You want the lowest-friction entry in our list — $5 minimum deposit
- ✓You use payment methods other brokers charge fees on — XM's "no-fees" policy covers most card and e-wallet provider charges
- ✓You're in AU retail and want ASIC + CySEC double cover
- ✓You're a beginner who values broker-provided educational content as part of the onboarding
- ✓You need Western Union or MoneyGram funding — rare support among our brokers
We may earn a commission if you open an account — it never affects our ranking or scores. How we’re paid.
Frequently asked
Which is better — Alpari or XM Group?+
Across our 5 dimensions: Alpari leads in 1, XM Group in 3, ties: 1. Overall verdict: XM Group. Full breakdown below.
Which broker has lower fees?+
Cost-per-lot in our calculation: Alpari — $7.50, XM Group — $13.00. Lower at Alpari.
Which is better for beginners?+
Minimum deposit: Alpari — $500, XM Group — $5. Easier onboarding at XM Group.
What trading platforms do they offer?+
Alpari: MetaTrader 4, MetaTrader 5. XM Group: MetaTrader 4, MetaTrader 5, Web Trader.
Who regulates each broker?+
Alpari: MISA. XM Group: ASIC, CySEC, IFSC.