Dukascopy vs XM 2026
By Akash · Facts from the brokers’ own sites, sources linked on each review
XM has the higher TFB Score (82/100 vs 67/100).
Dukascopy Bank SA is a Swiss bank founded in Geneva in 2004 and regulated by FINMA as a bank and securities firm, with an EU arm Dukascopy Europe IBS AS in Riga, offering JForex 4 and MetaTrader 4 with volume-based commissions.
75.14% of retail CFD accounts lose money with this provider.
XM is a CFD broker brand of the Trading Point group, founded in 2009, offering MT4, MT5 and the XM App with Standard, Ultra Low and Shares accounts; xm.com is run by XM Global Limited (FSC Belize), with group entities licensed by CySEC, the DFSA, FSCA, Kenya's CMA, the FSC Mauritius and the FSA Seychelles.
Side by side
| Item | Dukascopy | XM |
|---|---|---|
| TFB Score | 67/100 | 82/100▲ |
| Regulation & safety | 25/351 tier-1 regulator (FINMA), client money kept apart | 28/35▲1 tier-1 regulator (CySEC), investor compensation |
| Fees & costs | 13/25Spreads from 0.1 pips; commission not published | 20/25▲All-in cost from 0.80 pips, no commission |
| Deposits & withdrawals | 16/20Minimum deposit $100 (Dukascopy Bank SA forex account), 6 deposit methods, 5 withdrawal methods | 18/20▲Minimum deposit $5 (Standard and Ultra Low; XM Global; Shares account $10,000), 4 deposit methods, 5 withdrawal methods |
| Platforms & trading | 13/20MT4; leverage up to 1:200 on business days (1:60 at weekends; Dukascopy Bank SA) | 16/20▲MT4, MT5; leverage up to 1000:1 (XM Global Limited) |
| Trader Score | No trader scores yet | No trader scores yet |
| Regulators | FINMA | FSC Belize, CySEC, DFSA, FSCA, CMA Kenya, FSC Mauritius, FSA Seychelles |
| Minimum deposit | $100 (Dukascopy Bank SA forex account) | $5 (Standard and Ultra Low; XM Global; Shares account $10,000) |
| Spreads from | 0.1 pips (variable, SWFX marketplace) | 0.8 pips (as low as, XM Global) |
| Commission | USD 35 per USD 1 million traded on currency pairs (volume commission per opening or closing trade; lower with higher deposits or volume) | Zero commission (as stated on its home page; check the Ultra Low and Shares account terms) |
| Max leverage | Up to 1:200 on business days (1:60 at weekends; Dukascopy Bank SA) | up to 1000:1 (XM Global Limited) |
| Platforms | ||
| Withdrawal methods | Bank transfers, Payment cards, Skrill, Neteller, Bitcoins, Ether, Tether | Back to the source of the deposit, Credit/Debit Cards, Bank Transfers, Local Transfers, E-wallets |
| Retail accounts losing money | 75.14% | Not published |
Facts from each broker's own website and the regulators' registers. Full sources are on each review: Dukascopy review · XM review.
Frequently asked questions
Short answers, from the facts shown on this page.
Is Dukascopy or XM better?
XM has the higher TFB Score (82/100 vs 67/100). The best choice depends on your country, platform and payment method.
Are Dukascopy and XM regulated?
Dukascopy: FINMA. XM: FSC Belize, CySEC, DFSA, FSCA, CMA Kenya, FSC Mauritius, FSA Seychelles. Every licence is linked to the regulator's register on each review.
Which is safer, Dukascopy or XM?
Dukascopy holds 1 tier-1 licence (FINMA); XM holds 1 (CySEC). Tier-1 regulators have the strictest rules on client money. Your protection depends on which company opens your account.
What is the minimum deposit at Dukascopy and XM?
Dukascopy: $100 (Dukascopy Bank SA forex account). XM: $5 (Standard and Ultra Low; XM Global; Shares account $10,000). XM asks for less to start.
Which has tighter spreads, Dukascopy or XM?
Published spreads start from 0.1 pips (variable, SWFX marketplace) at Dukascopy and 0.8 pips (as low as, XM Global) at XM; commission: Dukascopy USD 35 per USD 1 million traded on currency pairs (volume commission per opening or closing trade; lower with higher deposits or volume), XM Zero commission (as stated on its home page; check the Ultra Low and Shares account terms).
Do Dukascopy and XM offer MetaTrader and TradingView?
Both offer MetaTrader 4. Dukascopy: JForex 4, MetaTrader 4. XM: MetaTrader 4, MetaTrader 5, XM App.
What is the maximum leverage at Dukascopy and XM?
Dukascopy: Up to 1:200 on business days (1:60 at weekends; Dukascopy Bank SA). XM: up to 1000:1 (XM Global Limited). Leverage depends on the company that opens your account and on your country.
More Dukascopy comparisons
More XM comparisons
Forex trading at these brokers is done through CFDs (contracts for difference): you trade on the price moving up or down, without owning the currency itself.Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you can afford to take the high risk of losing your money. Read the full risk warning