WhichBrokerHead to head · data verified October 2026
Freetrade vs XM
A close call — 0.0 points apart. The winner depends on what you trade.
Pillar scores
Side by side
| Criterion | Freetrade | XM |
|---|---|---|
| Overall score | 8.2 | 8.2 |
| Founded | 2015 | 2009 |
| Regulation | FCA (UK) | CySEC (EU), DFSA (AE), FSC (BZ), FSC (MU), FSA (SC) |
| Min. deposit | No stated minimum; fractional shares from £2 | $5 |
| Fees | 0% commission on all plans; FX fee 0.99% (Basic, free), 0.59% (Standard, £4.99/mo billed annually) or 0.39% (Plus, £9.99/mo billed annually); ISA, SIPP and Junior ISA included on the free plan; 0.5% stamp duty on UK share purchases; SIPP UFPLS withdrawals cost £240 | Ultra Low account: spreads from 0.6 pips, no commission; Zero account: from 0.0 pips + commission |
| Platforms | Freetrade mobile app (iOS, Android), Freetrade web platform | MetaTrader 4, MetaTrader 5, XM mobile app |
| Markets | 9,000+ UK, US and European stocks, ETFs, investment trusts, mutual funds, gilts and UK Treasury bills; crypto ETNs; no CFDs, options or spot crypto | 1,000+ instruments: forex, stock CFDs, indices, commodities, metals, energies |
| Demo account | No | Yes |
| Best for | UK ISA investors, Low-cost SIPP, Buyers of UK shares | Bonus seekers, Small starting balances, Emerging markets |
Our verdict
Choose Freetrade if you want uk isa investors · low-cost sipp · buyers of uk shares — its standout pillar in our scoring is trust & regulation.
Choose XM if you want bonus seekers · small starting balances · emerging markets.
Frequently asked questions
Which is better, Freetrade or XM?
It's close: Freetrade scores 8.2/10 and XM 8.2/10 in our methodology. The right choice depends on your profile — Freetrade is strongest for uk isa investors, while XM leads for bonus seekers.
Is Freetrade safe?
Freetrade is overseen by FCA (UK). Our trust score for it is 8.8/10 — see the full Freetrade review for the reasoning.
Is XM safe?
XM is overseen by CySEC (EU), DFSA (AE), FSC (BZ), FSC (MU), FSA (SC). Our trust score for it is 8.0/10 — see the full XM review for the reasoning.