XM vs Infinox - 2023 Comparison | FX Scouts
AuthorAuthor: Björn Michels
Updated: Aug 29, 2022
Last Updated On Aug 29, 2022
Björn Michels

Trading with a reputable online broker is a crucial factor for success in the international markets. At FX Scouts, we help you find the broker that suits your trading needs.

Each year we spend thousands of hours testing brokers by opening accounts, testing their platforms, and rating them according to a set of over 200 metrics. We deposit real money with the brokers to ensure that the products and user experience they advertise are consistent with reality.

We have found that the best way for traders to choose a broker is to compare brokers side-by-side. The comparison tool below allows you to compare two brokers based on their ratings and features.

Select brokers to compare

Select brokers to compare

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Overall Rating
Min. Deposit
Trading Desk Type
Trading Instruments
Forex Pairs
Crypto Pairs
Trading Conditions
Trading Platforms
Deposit & Withdrawal
Education & Research
Assets Available
Customer Service
% Lose with this broker
Account Types
Islamic Account
Trading Platforms
Funding Methods
Trading Commission
11110.54.35/ 5 USD 5CySEC Regulated BrokersASIC Regulated Forex BrokersDubai Financial Services AuthorityInternational Financial Services CommissionMarket MakerCommodities, Cryptocurrencies, Energies, Stock CFDs, Forex, Indices, Metals5731
  • Well regulated
  • Excellent education
  • Free deposits and withdrawals
  • Dealing desk
  • Wide spreads on its entry-level accounts
Read Review 111104/ 5 111115/ 5 11110.54.5/ 5 11110.54.5/ 5 111115/ 5 1110.503.5/ 5 111104/ 5 77.37%888:10.60 pips Micro, Standard, XM Ultra Low, XM Zero MT4, MT5Bank Transfer, Mastercard, Visa, Skrill, Neteller7 USD / lot - XM Zero Account
1110.503.93/ 5 GBP 1Securities Commission of the BahamasFCA Regulated BrokersFinancial Services CommissionFSCA Regulated Forex BrokersSTP, ECN/DMACommodities, Cryptocurrencies, Energies, Stock CFDs, Forex, Indices, Metals4943
  • Tight spreads
  • Low minimum deposits
  • Excellent Market Research
  • Non-responsive customer support
  • Extreme leverage
  • Limited base currencies
Read Review 111104/ 5 111104/ 5 11110.54.5/ 5 111003/ 5 111003/ 5 11110.54.5/ 5 111104/ 5 83.14%1000:10.20 pips ECN, STP MT4, MT5Neteller, Skrill, Bank Transfer, Bitcoin, Visa, Mastercard6 USD / lot - ECN Account

How do XM and Infinox stack up against each other?

The Radar Chart below highlights how the brokers stack up against each other across various metrics. The highest score a broker can receive in each area is 5.



At FX Scouts, we help traders find the broker that suits their trading needs. In many cases, the best way to achieve this is to compare brokers side-by-side.

To compare XM and Infinox, we used the same factors we use when reviewing brokers: The trust and regulation of the broker, the trading platform, the costs and trading conditions, and the level of education and market analysis available at the broker.

Does XM or Infinox have a better trust and regulation rating?

Trust and regulation are some of the most important factors to consider when choosing a Forex broker. Trust in the Forex trading business is almost entirely founded upon regulation. We spend many hours evaluating the safety of each broker by delving into their fine print and confirming each one of their regulatory licences on the online registers. The more top-tier authorities a broker is regulated by, the higher its trust rating.

In our comparison, we found that XM holds one Tier 1 and two Tier 2 licences, and Infinox holds one Tier 1 and no Tier 2 licences.


Can I trust XM?

Yes as XM was founded in 2009 and is regulated by ASIC, CySEC, DFSA and FSC.


Can I trust Infinox?

Yes as Infinox was founded in 2009 and is regulated by FCA, FSC, FSCA and SCB.


Based on these findings, XM earned a higher trust rating than Infinox.

Does XM or Infinox have lower costs?

Another important aspect we consider when comparing brokers is the cost of trading. When evaluating trading costs, we always consider the minimum deposit required to open an account and the ongoing trading costs, including the spreads and commissions. When calculating trading costs, we measure the cost to trade one lot of EUR/USD using the broker’s account with the lowest minimum deposit. The cost includes both the spread and any commission charged. 

Not all brokers publish their trading costs, so we often open accounts and trade on their platforms to verify the spreads and commissions. Based on our reviews, we found that XM has overall lower trading costs than Infinox. 

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Trading Conditions
Base Currencies
EURUSD (Standard)
Trading Cost (Standard)
111115/ 5
0.70 pips
0.10 pips
0.20 pips
0.10 pips
111104/ 5
0 pips
0.20 pips
0.40 pips
0.40 pips


Does XM or Infinox offer a better choice of trading platforms?

Traders want Forex brokers to offer them a choice of trading platforms, so we give brokers who offer multiple platforms higher ratings. Trading platforms we consider include MetaTrader4, MetaTrader5, cTrader and proprietary mobile and web-based platforms. 

In this case, XM offers support for MT4 and MT5 and Infinox offers support for MT4 and MT5. 

Do the brokers offer copy trading?

Copy trading is a great option for beginner traders who can’t trade full-time or lack experience with Forex trading. In this case both Infinox and XM offer copy trading.

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Platform Choice
Copy Trading
11110.54.5/ 5
11110.54.5/ 5


Which broker offers a better choice of trading instruments?

A variety of CFD instruments – and a large range of CFDs for each instrument category allow traders more opportunities for profitable trading. The best brokers will have thousands of CFDs to trade, covering all these instrument categories. We found that XM offers a greater range and depth of instruments to trade than Infinox. XM offers 57 Forex pairs to trade and Infinox offers 49 Forex pairs to trade.

Toplist Forex Pairs

And what about Cryptocurrencies?

In this case, Infinox offers 43 cryptocurrencies while XM offers 31 cryptocurrencies. So if you want to trade cryptocurrencies, we advise trading with Infinox.

Which broker offers better deposit and withdrawal processes?

Although brokers may have reasonable trading fees, many traders are caught out by the high non-trading fees charged by some brokers, including deposits and withdrawals. Traders want to be able to deposit and withdraw funds quickly and cheaply. Most brokers have multiple funding methods with zero fees for making deposits, but some brokers make it more expensive and take longer to process withdrawals. 

We rate brokers more highly that process withdrawals within 24 hours by multiple withdrawal methods and without charging processing fees. We found that Infinox charges a withdrawal fee and XM does not. Overall, XM has better deposit and withdrawal processes than Infinox. 

Which broker offers better educational support?

We often find that brokers offer very little in the way of educational materials, forcing traders to use other third-party sites or self-educate elsewhere. Beginner traders need well-structured, well-presented materials in multiple formats to get a good start at trading. More experienced traders also benefit from webinars led by experts in the field and advanced trading strategy sections with new trading ideas. 

XM has better educational support than Infinox. Both Infinox and XM offer educational support for more experienced traders.

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Beginner Course
Advanced Course
Well Structured Education
Education Quality


Which broker offers better market analysis materials?

To successfully predict the price movements of an instrument, traders will need access to frequent market research and analysis. We find that research and market analysis are always better when they are produced in-house and updated frequently. Third-party resources don’t show the same expertise in trading ideas, so we place a strong emphasis on frequent in-house updates. Some brokers also often offer interactive webinars where traders can learn from experts in the field. 

We found that XM offers better research analysis than Infinox and that both Infinox and XM offer frequent webinars.

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Economic Calendar
Trading Central
Trading View
Free VPS


Our overall Verdict on XM

XM Group (XM) is a dealing desk broker offering trading on multiple instruments, including Forex, stock CFDs, commodities, equities, precious metals, energies, and shares.  Trading costs are slightly higher than other market makers on two of its accounts, with spreads averaging at 1.7 pips on the EUR/USD. However, trading conditions are much more competitive on the Ultra Low Account, with spreads starting at 0.6 pips on the EUR/USD in exchange for a reasonable minimum deposit of 5 USD. 

With fast execution times and good analysis software, XM is a great broker for scalpers, day traders, and long-term traders.  It also provides a world-class repository of educational and market analysis materials to get new traders started.  Lastly, trading is offered on both the MT4 and MT5 platforms, and the responsive and knowledgeable customer service is available to help with any account or technical queries.

Our overall Verdict on Infinox

With two low-cost accounts, a good range of Forex pairs, excellent market analysis materials, and good trading tools, INFINOX is a decent all-around broker. 

INFINOX offers traders the choice of a commission-free STP account or a commission-based ECN account, both with a minimum deposit of 1 GBP (or currency equivalent). Trading costs range between 8 - 9 USD per lot traded, much lower than average for the industry. Trading is available on both the MT4 and MT5 platforms, and INFINOX also offers a great social trading app, especially good for beginners starting their trading careers.

However, we were disappointed at the lack of transparency regarding deposits and withdrawals and were also disappointed by non-responsive customer support and INFINOX’s scant FAQ section. 

Which broker has the highest overall rating?

XM has an overall rating of 4.35 and Infinox has an overall rating of 3.93. For more detail please read our reviews of XM and Infinox.

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