GMG Markets vs XM Comparison: Which Is Better for Traders?
We test brokers on real accounts using our own methodology, evaluating the quality of order execution, trading conditions, platforms and customer support.
Who is better - GMG Markets or XM?
Our pick: XM
Based on multiple factors - spreads and fees, available assets and instruments, execution quality, platform usability, support level, and educational resources - XM looks preferable to GMG Markets.
XM scored 4.2/5 and ranks 30 in our all Forex brokers list, whereas GMG Markets has 4/5 and ranks 49.
This is not financial advice. See the full comparison below.
Who is GMG Markets suitable for?
GMG Markets suits active Forex traders and scalpers who value FCA regulation, MT5, and low spreads; however, it may feel restrictive for investors and stock enthusiasts.
Who is XM suitable for?
Broker XM is suitable for both novice traders, thanks to educational materials, and experienced traders who value a variety of instruments.
Comparison Table of GMG Markets and XM
| Broker | GMG Markets | XM |
|---|---|---|
| Rating | 4/5 | 4.2/5 |
| Foundation Year | 2015 | 2009 |
| Regulated in Countries | United Kingdom | Belize, Cyprus, Australia, United Arab Emirates |
| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:30 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Review | GMG Markets Review | XM Review |
GMG Markets Review
GMG Markets is a niche broker primarily designed for active FX traders, scalpers, and algorithmic traders who only need two well-optimized accounts. The MT5 platform provides a comprehensive toolkit for both manual and automated trading, Autochartist supplements basic technical analysis, and 24/5 support responds swiftly and effectively.
This broker is ideal for those who appreciate transparent fees, swift fund withdrawals, and FCA regulation but do not require an extensive product lineup or copy trading services. Novice traders can test the live markets and undergo basic training via webinars, whereas professionals can access leverage up to 1:200 under Pro status. Investors, diversification enthusiasts, or those needing a multitude of platforms and services might be better served by more versatile providers.
Pros and Cons of GMG Markets
Pros
- Robust regulation — FCA license, segregated accounts, FSCS protection.
- Transparent fee structure — Standard account with zero commission, Raw account with zero spreads and fixed fee.
- MT5 + Autochartist — comprehensive desktop, web, and mobile platforms, algorithm support, integrated chart pattern scanner.
- VPS hosting — complimentary with required monthly turnover.
- 24/5 tech support — chat, phone, and e-mail typically respond within minutes.
Cons
- Limited instrument selection — only Forex, a few indices, and commodities.
- Single platform offering — no MT4, cTrader, TradingView, or proprietary web terminal.
- No e-wallets or cryptocurrencies available for transactions.
- Investor services are lacking — no copy trading, PAMM, contests, or comprehensive fundamental analysis.
GMG Markets is in the top 10 of the following ratings:
XM Review
XM broker offers a wide range of services, making it an attractive option for various traders. With over 1500 trading instruments, extensive educational resources, and numerous trading platforms, XM is ideally suited for beginners and experienced traders. Novice traders will particularly appreciate the accessible educational materials and low entry threshold, while professionals will find the competitive spreads and diversity of instruments appealing.
Pros and Cons of XM
Pros
- Wide range of trading assets.
- Extensive educational resources.
- Tight spreads on the Ultra Low account.
- Many analytical materials.
- Commission-free deposits and withdrawals.
Cons
- Inconsistency in technical support.
- Inactivity fee.
- Standard account has a higher spread than the market average.
XM is in the top 10 of the following ratings:
Reliability
| Broker | GMG Markets | XM |
|---|---|---|
| Reliability | 5/5 | 5/5 |
| Foundation Year | 2015 | 2009 |
| Regulated in Countries | United Kingdom | Belize, Cyprus, Australia, United Arab Emirates |
| Regulators | FCA FCA | BFSC BFSC CySEC CySEC ASIC ASIC DFSA DFSA |
GMG Markets
Since 2016 under FCA oversight, GMG Markets holds client funds in segregated accounts and qualifies for FSCS protection.
Pros
- FCA License — Tier-1 regulator
- Funds segregation + FSCS compensation up to £85,000
- STP/NDD model without dealer intervention
Cons
- Single jurisdiction (FCA), no additional licenses
XM
XM Group is highly regarded for its reliability, holding ASIC, CySEC, FSC, and DFSA licenses.
Account Opening
| Broker | GMG Markets | XM |
|---|---|---|
| Account Opening | 5/5 | 5/5 |
| Minimum Deposit |
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GMG Markets
GMG Markets onboarding is quick and efficient: registration takes 5–7 minutes, with verification under 1 business day.
Pros
- Online registration in 5–7 minutes
- Document verification within 1 day
Cons
- Detailed KYC form
XM
Opening an account with XM Group is straightforward and quick.
Account Types
| Broker | GMG Markets | XM |
|---|---|---|
| Account Types | 3.8/5 | 4.3/5 |
| Trading Accounts |
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| Minimum Deposit |
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| Spread | from 0 points | from 0 points |
| Max Leverage | 1:30 | 1:1000 |
| Trading Assets (CFDs) |
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| Trading Platforms |
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| Demo Account | ||
| Swap-free Account |
GMG Markets
Only two main accounts — Standard and Raw Spread — cater to basic requirements, but the absence of cent or fixed-spread accounts, copy trading, PAMM, and contest services limits variety.
Pros
- Commission-free Standard, and zero-spread Raw account
- Islamic account and spread-betting options for niche segments
- Complimentary VPS with required turnover
Cons
- No cent/fixed-spread account
- Lack of copy trading, PAMM, contests
XM
XM broker offers various account types to satisfy the needs of different traders, from beginners to professionals.
Pros
- A wide choice of accounts for different experience levels.
- Flexible trading conditions (leverage, deposit).
- Specialized accounts for stock trading.
Cons
- No fixed spread accounts.
- No ECN or STP accounts.
Commissions
| Broker | GMG Markets | XM |
|---|---|---|
| Commissions | 4/5 | 2.5/5 |
| Spread | from 0 points | from 0 points |
| Average Spread (EURUSD) | 1.2 | 1.7 |
| Commission per Lot | $3.5 |
GMG Markets
GMG Markets offers a transparent fee structure: one account includes all charges within the spread, while another charges a small fee with a minimal spread. Deposits and withdrawals are free, no inactivity fee is applied, though swaps are slightly above average.
Pros
- No inactivity fees
- Free deposits and withdrawals
Cons
- Swaps are above average
XM
XM's commissions are rated as average.
Pros
- Low spreads on the Ultra Low account.
- No swaps on many currency pairs on the Ultra Low account.
Cons
- Wider spreads and higher swaps on the standard account.
- Inactivity fee.
Deposit and Withdrawal
| Broker | GMG Markets | XM |
|---|---|---|
| Rating | 4/5 | 4.5/5 |
| Account Funding Methods |
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GMG Markets
Card and bank transfers are swift and fee-free, but the absence of e-wallets and cryptocurrencies limits options.
Pros
- Commission-free transactions
- Instant card funding
Cons
- No e-wallets
- No cryptocurrencies
XM
The broker offers convenient deposit and withdrawal methods with zero commission but lacks cryptocurrency support.
Pros
- Zero commission for deposits and withdrawals.
- A minimum limit of only 5 dollars.
- Quick processing of withdrawal requests.
Cons
- No cryptocurrency deposit/withdrawal options.
Markets and Products
| Broker | GMG Markets | XM |
|---|---|---|
| Markets and Products | 2.5/5 | 5/5 |
| Forex | 64 | 55 |
| Precious Metals | 13 | 3 |
| Energy Carriers | 3 | 3 |
| Indices | 17 | 50 |
| Soft Commodities | - | 8 |
| Stocks | - | 1307 |
| Cryptocurrency | - | 58 |
GMG Markets
The instrument range is limited: primarily currency pairs, indices, and commodities; with no stocks, cryptocurrencies, or a broad commodity selection, diversification falls short compared to competitors.
Pros
- 64 currency pairs
- Major indices and metals
Cons
- No CFDs on stocks
- No cryptocurrencies
- Limited commodity selection
XM
The broker offers a wide range of markets and products, including over 1500 items.
Pros
- A large selection of currency pairs.
- Access to CFDs on various assets.
- The ability to trade cryptocurrencies.
Trading Platforms
| Broker | GMG Markets | XM |
|---|---|---|
| Rating | 3.5/5 | 4/5 |
| Trading Platforms |
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GMG Markets
The sole available platform, MT5, offers rich functionality, but the lack of alternatives reduces flexibility.
Pros
- Fully featured MT5
- Desktop, web, and mobile applications
Cons
- No MT4, cTrader, TradingView
- Essentially a single platform option
XM
XM offers various versions of MT4 and MT5 platforms, providing flexibility in trading.
Pros
- Availability on various devices (PC, Mac, mobile).
- MultiTerminal for managing multiple accounts.
- WebTrader for browser-based trading.
Cons
- No alternatives to MetaTrader.
Analytics
| Broker | GMG Markets | XM |
|---|---|---|
| Rating | 3/5 | 5/5 |
GMG Markets
Autochartist and a daily news feed provide basic analysis, but the lack of proprietary research and in-depth fundamental analysis diminishes overall utility.
Pros
- Complimentary Autochartist
- Market news
Cons
- No proprietary research
- Weak fundamental analysis
XM
Analytics at XM are extensive and varied, providing traders with valuable resources for making informed decisions.
Pros
- Exclusive market analysis from professionals.
- Trading signals and tools such as Autochartist.
- The option to listen to news recordings.
Cons
- Real account required to access all materials.
Education
| Broker | GMG Markets | XM |
|---|---|---|
| Rating | 4/5 | 4.5/5 |
GMG Markets
The foundational materials (webinars, articles, videos) are sufficient for beginners, but for in-depth learning and advanced coursework, external resources may be needed.
Pros
- Regular free webinars
- Novice-oriented article base
- Recordings available 24/7
Cons
- No advanced courses
- No podcasts or multilingual programs
XM
XM's educational materials are extensive and varied, suitable for all experience levels.
Pros
- A wide range of materials: webinars, videos, seminars.
- Available in different languages.
- Daily online sessions with experts.
Cons
- Lack of textual materials and books.
- No personalized learning options.
Customer Support
| Broker | GMG Markets | XM |
|---|---|---|
| Rating | 4.5/5 | 4/5 |
| Email Support |
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| Hotline Phones |
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| Social Media |
Facebook
LinkedIn
Twitter
YouTubeGMG Markets
The broker provides 24/5 support via chat, phone, and e-mail, with responses typically within minutes.
Pros
- Online chat and phone support 24/5
- Rapid response
- Competent representatives
Cons
- No weekend support
- Delays during peak demand
XM
XM's technical support offers 24/7 access through various channels, but the service quality is inconsistent.
Pros
- Round-the-clock support.
- A variety of communication channels.
- Quick responses in some cases.
Cons
- Ineffectiveness of solutions, according to reviews.
Comparisons of GMG Markets and XM with other brokers
Conclusion
XM stands out as the better overall pick, while GMG Markets trails on aggregate criteria.
XM scored 4.2/5 and ranks 30 in our rating; GMG Markets has 4/5 and ranks 49.
We explain the reasons above in detail — fees, platforms, reliability, support, and more.
FAQ
Which broker is better: GMG Markets or XM?
XM comes out ahead by overall rank (score 4.2/5, position 30) versus GMG Markets (score 4/5, position 49).
Which broker is better for beginners: GMG Markets or XM?
XM is often a smoother start thanks to simpler onboarding and stronger baseline metrics. Still, your tools and budget should drive the final choice.
Who has lower typical trading costs (spreads/commissions) — GMG Markets or XM?
It depends on the instrument and account type. Compare the live conditions in the “Commissions” section on this page — we break down the nuances category by category.
What trading platforms are available with GMG Markets and XM?
GMG Markets: MetaTrader 5. XM: MetaTrader 5, MetaTrader 4. See the “Platforms” section for details and selection tips.
What markets can you trade with GMG Markets and XM?
GMG Markets: Forex, Precious Metals, Energy Carriers, Indices. XM: Forex, Precious Metals, Energy Carriers, Soft Commodities, Indices, Stocks, Cryptocurrency. Full lists and differences are in the “Markets” section.
What account types are offered by GMG Markets and XM?
GMG Markets: Standard, RAW Spread. XM: Standard, Micro, XM Ultra Low, Shares. See “Account Types” for a side-by-side comparison.
What deposit and withdrawal methods are supported by GMG Markets and XM?
GMG Markets: Bank Transfer, Visa, Mastercard. XM: Neteller, Skrill, WebMoney, Perfect Money, SticPay, Visa, Mastercard. Check method-specific fees/settlement times.
Which broker is safer — GMG Markets or XM — and how was this assessed?
We consider regulation, corporate transparency, fund protection, and incident history. See the “Reliability” section for our findings.
