MH Markets vs XM: Which Is Better?
A side-by-side look at regulation, trading conditions, and fees for MH Markets and XM, pulled from the same data as their individual reviews.
Key Differences
- • MH Markets holds the higher overall rating: 6.6/10 vs 5.4/10 for XM.
- • XM has the lower minimum deposit: $5 vs $50 at MH Markets.
- • XM lists more regulators: CySEC, DFSA, FSCA, FSC, FSA vs FSC (Mauritius, offshore) for MH Markets.
Overview
Rating
6.6/10
5.4/10
Trustpilot
2.6/5 · 32 reviews
2.7/5
WikiFX Score
7.35 / 10 (July 2026)
Average / Active
Best For
Low $50 entry with Standard, Prime and ECN accounts (check your entity first)
Micro-accounts & Educational resources
Regulators
FSC (Mauritius, offshore)
CySEC, DFSA, FSCA, FSC, FSA
Terms & Fees
Min Deposit
$50
$5
Max Leverage
1:2000
1:1000
Spreads From
0.0 Pips
0.8 Pips
Execution Model
Market execution on Standard and Prime; ECN (direct liquidity) on the ECN account. The broker does not say whether it uses a dealing desk
Principal Market Maker (Dealing Desk elements)
Commission
Standard and Prime: no commission. ECN: a commission per trade, but the amount is not stated on the broker's website. Reviewers quote different figures: FastBull about $7 round turn per standard lot, Traders Union $2 per lot, BrokersView $6 on an Islamic account. Confirm the current figure in your client area before trading.
$0 on Standard/Micro/Ultra-Low; commission applies only on specialized Zero accounts ($3.50 per side)
Swap / Islamic
Swap rates are not published in the sources we read, and BrokersView rates MH Markets' swap rates 'Poor'. The account types page mentions swap-free options in its description without giving terms; BrokersView lists an Islamic account (minimum $1,000, $6 commission). Ask the broker for current swap and swap-free terms.
Islamic accounts available seamlessly for clients in Islamic jurisdictions
Platforms
MT4, MT5, MT4 WebTrader, Social Trading
MT4, MT5, XM App
Crypto Deposits
Yes
No
Pros
What's good
- + Standard account opens from $50, Prime from $100 and ECN from $1,000
- + Spreads from 0.8 pips (Standard, no commission), 0.5 pips (Prime, no commission) and 0.0 pips (ECN, plus commission)
- + MT4 and MT5 plus an MT4 web platform; 100+ forex pairs and CFDs on indices, stocks, metals, energies and futures
- + Publishes its Mauritius FSC licence number (GB20026131); WikiFX scores it 7.35 and BrokersView 8.3 out of 10
- + Withdrawal requests made before 16:00 (GMT+2) are processed the same day, according to the broker
- + Rich educational resources
- + Leverage stability during high-impact news
Cons
Watch out for
- – Trustpilot TrustScore is 2.6 out of 5 from 32 reviews; 47% are one-star, mostly about blocked withdrawals and closed accounts
- – The broker's own regulation page lists only an offshore (Mauritius) licence; the ASIC, UAE and South African licences quoted by reviewers belong to other group entities and may not cover your account
- – The ECN commission is not published on the broker's site and reviewers quote different amounts ($2 to $7 per lot)
- – Leverage of up to 1:2000 is subject to regulatory limits and the broker can change it at any time
- – No negative balance protection statement on the broker's pages; its risk warning says you can lose more than you deposit
- – Published terms differ between pages and reviewers (leverage, withdrawal fees and cut-off times), and the brand name differs from the legal entity (Mohicans Markets Ltd)
- – Aggressively widened spreads during volatility
- – Punitive inactivity fees
- – Withdrawal delays with local processors