XM vs FP Markets: fees, cashback and which to choose
XM is a globally accessible broker for all levels; FP Markets is an Australian ECN broker with some of the tightest spreads. We compare them on fees, available cashback and which trader profile each suits — plus how to recover part of your fees on both.
Quick comparison
| XM | FP Markets | |
|---|---|---|
| Cashback | 25% | 26% |
| Applies to | of spreads and commissions | of spreads and commissions |
| Countries | 6+ | 5+ |
| Best for | beginners and traders starting with small deposits | forex and CFD traders who prioritize low cost and platform variety |
Fees
XM. Commission-free accounts with slightly wider spreads; very beginner-friendly on capital.
FP Markets. ECN spreads from 0.0 pips plus per-lot commission; MT4/MT5, cTrader and IRESS support.
Available cashback
FP Markets offers more cashback (26%) than XM (25%), so you recover a larger share of every fee you pay. The gap matters most if you trade with volume.
Work out how much you'd recover for your volume with the cashback calculator.
Pros and cons
Pros
- Low minimum deposit
- Abundant educational material
- Millions of accounts and multilingual support
- 25% cashback via Omanero
Cons
- Wider spreads on standard accounts
- Less appealing to professional traders
Pros
- Among the lowest ECN spreads
- Wide platform variety (cTrader, IRESS)
- Long track record and regulation
- 26% cashback via Omanero
Cons
- Inactivity fees
- Less educational material than XM
Best for each profile
Choose XM if you're beginners and traders starting with small deposits. Choose FP Markets if you're forex and CFD traders who prioritize low cost and platform variety.
Verdict
If your priority is recovering the most fees, FP Markets leads with 26% cashback. If you value XM's profile more, you still recover fees at 25%. Best of all: you don't have to choose — use both and earn cashback on each.
Recover fees on XM and FP Markets with verifiable payments.