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Data refreshed 25 Aug 2026 · Compiled by David Ispiryan
Trust rank #20 · Founded 2010
ThinkMarkets is a well-regarded forex and CFD broker offering broad market access via MetaTrader and its proprietary ThinkTrader platform. It provides research, education, and risk management tools to support analysis and platform…
Read the ThinkMarkets review
Trust rank #26 · Founded 2009
XM is a well-regarded forex and CFD broker providing online access to multiple markets on widely used platforms, along with research tools, education, and multilingual support.
Read the XM reviewThinkMarkets (Australia, founded 2010) holds 4 regulatory licences (ASIC, CySEC, FCA, FSCA), 2 of them tier-1, offers MT4, MT5, Proprietary and sits in our low-fee bracket. XM (Cyprus, founded 2009) holds 5 regulatory licences (ASIC, CySEC, DFSA, FCA, IFSC), 2 of them tier-1, offers MT4, MT5 and sits in our low-fee bracket. The two overlap in 198 countries; ThinkMarkets is available in 1 countries where XM is not, and XM in 31 where ThinkMarkets is not.
Scored on 8 measurable dimensions where both brokers have verified data. Dimensions missing for either side are excluded rather than guessed. This is a data summary, not a recommendation.
| Criteria | ThinkMarkets | XM |
|---|---|---|
| Trust rank | #20 | #26 |
| Founded | 2010 | 2009 |
| Headquarters | Australia | Cyprus |
| Regulators | ASIC, CySEC, FCA, FSCA | ASIC, CySEC, DFSA, FCA, IFSC |
| Broker type | ECN, STP | Market Maker, STP |
| Platforms | MT4, MT5, Proprietary | MT4, MT5 |
| Instruments | Commodities, Cryptocurrencies, Forex, Indices, Metals | Commodities, Forex, Indices, Metals |
| Countries accepted | 199 countries | 229 countries |
| Fee level | Low | Low |
| Trading types | CFD Trading, Spot Trading | CFD Trading, Spot Trading |
| Best-for use cases | Copy Trading, Professional Trading, Retail Trading | Professional Trading, Retail Trading |
Highlighted cells mark the stronger value where a direction is objectively better (e.g. more licences, lower fees). "Not verified" means the field is not yet in our catalogue for that broker — we never fill gaps with estimates.
Available at both (198): Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belize, Benin, Bhutan, Bolivia, Bonaire, Bosnia and Herzegovina, Botswana, Brazil, Brunei, Burkina Faso, Burundi, Cabo Verde, Cambodia, Cameroon, Cayman Islands, Central African Republic, Chad, Chile, China, Christmas Island, Cocos (Keeling) Islands, Colombia, Comoros and 158 more.
Only ThinkMarkets (1): Israel.
Only XM (31): Austria, Belgium, Bermuda, Bulgaria, Croatia, Cyprus, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, India, Ireland, Italy, Japan, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal and 6 more.
Availability reflects the countries each broker declares it serves. Local rules change; confirm on the broker's own site before signing up.
XM holds more regulatory licences: ThinkMarkets (ASIC, CySEC, FCA, FSCA) versus XM (ASIC, CySEC, DFSA, FCA, IFSC). Tier-1 licences: ThinkMarkets 2, XM 2.
ThinkMarkets offers MT4, MT5, Proprietary; XM offers MT4, MT5.
Both sit in the same fee bracket (low) in our catalogue; compare the spreads and commission rows above for detail.
XM is the older of the two, founded in 2009; ThinkMarkets was founded in 2010.
They overlap in 198 countries. ThinkMarkets is additionally available in 1 countries (Israel) and XM in 31 countries (Austria, Belgium, Bermuda, Bulgaria, Croatia, Cyprus and 25 more).
Risk warning: CFDs and forex are complex, leveraged instruments and carry a high risk of losing money rapidly. A majority of retail investor accounts lose money when trading CFDs. Nothing on this page is financial advice; verify licence status on the regulator's register before depositing. Full risk disclosure.