FBS vs XM Group for Cyprus Traders (2025): Full Comparison
Which broker is better for Cyprus traders in 2026? Expert analysis across 12 categories.
For Cyprus traders looking to trade forex and CFDs in USD, choosing between FBS and XM Group is a critical decision. Both brokers accept Cyprus clients and offer local payment methods like Bank Transfer, Skrill, Neteller, and USDT TRC20. However, they differ significantly in regulation, costs, and overall user experience. XM Group holds a higher overall rating (4.7/5) and is regulated by CySEC, providing strong investor protection for Cyprus residents. FBS (rated 3.7/5) is regulated offshore but offers higher leverage and cryptocurrency deposits. This comparison helps retail traders in Cyprus understand which broker aligns better with their trading goals, considering local trading conditions and the availability of Islamic accounts.
| Instrument | FBS | XM Group | Winner |
|---|---|---|---|
| EUR/USD avg spread | 0.09 pips + $3.5/lot | 0.0 pips + $3.5/lot | XM Group |
| XAU/USD (Gold) | $0.14 typical | $0.12 typical | XM Group |
| GBP/USD avg spread | 0.29 pips | 0.23 pips | XM Group |
| Standard acc spread | from 1.0 pips | from 0.8 pips | XM Group |
| ECN commission | $3.5/lot/side | $3.5/lot/side | Tie |
| Min deposit | $1 | $5 | FBS |
| Inactivity fee | ✓ | ✓ | Tie |
When comparing trading costs for Cyprus traders, XM Group offers lower spreads, starting from 0.0 pips on its Ultra Low account, while FBS spreads start from 0.5 pips on its ECN account. XM Group charges a commission of $3.5 per lot on its Ultra Low account, whereas FBS is commission-free on Standard accounts but has wider spreads. For a Cyprus trader executing 50 lots per month in USD, XM Group’s cost is approximately $175, while FBS’s cost can exceed $250 due to wider spreads. XM Group also offers negative balance protection, which is mandatory for CySEC-regulated brokers, adding an extra layer of safety.
| Account Type | FBS | XM Group |
|---|---|---|
| Standard account | ✓ | ✓ |
| ECN / Raw spread | ✓ | ✓ |
| Islamic (swap-free) | ✓ | ✓ |
| Demo account | ✓ | ✓ |
| PAMM / MAM account | ✗ | ✓ |
| Zero spread account | ✗ | ✓ |
| Copy trading | ✗ | ✗ |
| VPS trading | ✗ | ✓ |
| Min deposit | $1 | $5 |
| Neg. balance protection | ✓ | ✓ |
| Entity / Asset | FBS | XM Group |
|---|---|---|
| Cyprus (offshore) | Up to 1:3000 | Up to 1:500 |
| Forex major pairs | 1:3000 | 1:500 |
| Gold (XAU/USD) | 1:200 | 1:200 |
| Indices | 1:100 | 1:100 |
| Cryptocurrencies | 1:2 to 1:10 | 1:2 to 1:10 |
| Margin call level | 80% | 80% |
| Stop out level | 50% | 50% |
| Asset Class | FBS | XM Group | Winner |
|---|---|---|---|
| Forex pairs | 90+ | 65+ | FBS |
| Gold (XAU/USD) | ✓ | ✓ | Tie |
| Oil (WTI/Brent) | ✓ | ✓ | Tie |
| Stock indices | 25+ indices | 20+ indices | FBS |
| Crypto CFDs | 30+ | 20+ | FBS |
| Stocks / Share CFDs | ✗ | ✗ | XM Group |
| ETFs | ✗ | ✗ | Tie |
| Options | ✗ | ✗ | Tie |
| Futures | ✗ | ✗ | Tie |
| Platform | FBS | XM Group |
|---|---|---|
| MetaTrader 4 (MT4) | ✓ | ✓ |
| MetaTrader 5 (MT5) | ✓ | ✓ |
| cTrader | ✗ | ✗ |
| TradingView | ✗ | ✗ |
| Expert Advisors (EAs) | ✓ | ✓ |
| Scalping allowed | ✓ | ✓ |
| Hedging allowed | ✓ | ✓ |
| Fixed spreads | ✓ | ✗ |
| Variable spreads | ✓ | ✓ |
Both FBS and XM Group offer the popular MetaTrader 4 and MetaTrader 5 platforms, which are widely used by Cyprus traders. XM Group additionally provides its own XM WebTrader and mobile apps with advanced charting tools and one-click trading. FBS also offers a proprietary FBS Trader app for iOS and Android. For Cyprus traders who prefer automated trading, both brokers support Expert Advisors (EAs) on MT4/MT5. XM Group’s platforms are slightly more comprehensive, with better execution and more indicators, making it the preferred choice for active retail traders in Cyprus.
| Factor | FBS | XM Group | Winner |
|---|---|---|---|
| Execution model | ECN/STP | True ECN | XM Group |
| Avg execution speed | ~30ms | ~40ms | FBS |
| Slippage | Very low | Very low | Tie |
| Requotes | Very rare | Very rare | Tie |
| Dealing desk | ✗ | ✗ | Tie |
| Scalping allowed | ✓ | ✓ | Tie |
| News trading | ✓ | ✓ | Tie |
| EA / Bot trading | ✓ | ✓ | Tie |
XM Group offers superior execution with no requotes and an average execution speed of 0.7 seconds, thanks to its deep liquidity pool. FBS execution speed averages around 1.2 seconds, which may cause slippage during volatile markets. For Cyprus traders using scalping strategies, XM Group’s faster execution is a clear advantage. Both brokers allow hedging and scalping.
| Safety Factor | FBS | XM Group |
|---|---|---|
| Primary regulator | IFSC | ASIC |
| Reg number | #IFSC/60/230/TS/19 | #443670 |
| Verify registration | Verify ↗ | Verify ↗ |
| Top-tier regulated | ✗ | ✓ |
| Investor protection | ✓ | ✓ |
| Segregated funds | ✓ | ✓ |
| Neg. balance protection | ✓ | ✓ |
Regulation is a key differentiator for Cyprus traders. XM Group is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 120/10, offering investor compensation up to €20,000 through the ICF and negative balance protection. FBS is regulated by the Belize IFSC, which does not provide the same level of investor protection. For Cyprus residents, trading with a CySEC-regulated broker like XM Group ensures compliance with local laws and access to dispute resolution through the Financial Ombudsman. FBS, while legal to use, lacks local oversight, which may be a concern for risk-averse traders.
| Payment Method | FBS | XM Group |
|---|---|---|
| Bank Wire Transfer | ✓ | ✓ |
| Visa / Mastercard | ✓ | ✓ |
| Skrill | ✓ | ✓ |
| Neteller | ✓ | ✓ |
| USDT / Crypto | ✓ | ✓ |
| Deposit fee | None | None |
| Withdrawal time | 15-20 minutes for most methods; up to 48 hours for bank transfer | Visa/Mastercard and e-wallets near-instant to 1-2 business days; bank wire several days |
| Min withdrawal | $50 | $50 |
Cyprus traders can fund their accounts at both FBS and XM Group using Bank Transfer, Skrill, Neteller, and USDT TRC20. FBS supports deposits from $10 via Skrill and Neteller, with USDT TRC20 deposits processed within minutes and no fees. XM Group requires a minimum deposit of $5 and also supports these methods with instant processing for e-wallets. Withdrawals at both brokers are processed within 24 hours for e-wallets and 1-3 business days for bank transfers. XM Group does not charge internal withdrawal fees, while FBS may charge a small fee for certain methods. Cyprus traders should note that USDT TRC20 deposits are particularly useful for crypto-friendly traders at FBS.
| Islamic Account Feature | FBS | XM Group |
|---|---|---|
| Swap-free available | ✓ | ✓ |
| Admin fee instead of swap | On some instruments | On some instruments |
| MT4 / MT5 supported | ✓ | ✓ |
| Gold swap-free | ✓ | ✓ |
| Crypto swap-free | ✓ | ✓ |
| How to apply | Contact support | Contact support |
Both FBS and XM Group offer Islamic (swap-free) accounts for Muslim traders in Cyprus. XM Group provides swap-free accounts on all account types (Micro, Standard, and Ultra Low) without any time limit for clients who qualify based on their religious beliefs. FBS offers Islamic accounts on its Standard and Cent accounts only, with no expiry, but requires a request via customer support. Cyprus traders should confirm eligibility by providing a declaration of faith. XM Group’s offering is more flexible as it covers all account types, making it suitable for traders who prefer lower spreads on Ultra Low accounts.
| Support Feature | FBS | XM Group | Winner |
|---|---|---|---|
| Live chat | ✓ | ✓ | Tie |
| Phone support | ✗ | ✓ | Tie |
| Email support | ✓ | ✓ | Tie |
| 24/7 support | ✗ | ✗ | Tie |
| 24/5 support | ✓ | ✓ | Tie |
| Response time (chat) | <2 minutes | <3 minutes | FBS |
XM Group offers 24/5 customer support in multiple languages, including Greek, which is a significant advantage for Cyprus traders. Support is available via live chat, email, and phone. FBS provides 24/7 support in English and Russian, but Greek language support is limited. Both brokers have comprehensive FAQ sections. For Cyprus traders who prefer local language support, XM Group is the better choice.
| Mobile Feature | FBS | XM Group | Winner |
|---|---|---|---|
| iOS App Store rating | 4.5★ | 4.3★ | FBS |
| Google Play rating | 4.3★ | 4.2★ | FBS |
| Biometric login | ✓ | ✓ | Tie |
| Push notifications | ✓ | ✓ | Tie |
| Full charting on mobile | ✓ | ✓ | Tie |
| Mobile deposit/withdrawal | ✓ | ✓ | Tie |
| TradingView mobile | ✗ | ✗ | Tie |
| Dark mode | ✓ | ✓ | Tie |
| Resource | FBS | XM Group | Winner |
|---|---|---|---|
| Video tutorials | 100+ videos | 50+ videos | FBS |
| Webinars (live) | Weekly | Monthly | Tie |
| Economic calendar | ✓ | ✓ | Tie |
| Market analysis | Daily | Basic | FBS |
| Beginner resources | Excellent | Basic | FBS |
Choose FBS if you...
- Want higher leverage up to 1:3000 for small accounts.
- Prefer crypto-friendly deposits like USDT TRC20.
- Trade with very small capital (minimum deposit $10).
- Don’t mind offshore regulation for flexibility.
Choose XM Group if you...
- Value CySEC regulation and investor protection.
- Want lower spreads and lower trading costs.
- Prefer Greek language support and local presence.
- Need swap-free accounts on all account types.
For Cyprus traders, XM Group is the stronger choice overall due to its CySEC regulation, lower spreads, faster execution, and Greek language support. It offers a safer trading environment with negative balance protection and investor compensation. FBS is a viable alternative for traders seeking higher leverage and crypto deposit options like USDT TRC20, but its offshore regulation and higher trading costs make it less suitable for long-term, serious retail traders in Cyprus. Both brokers accept local payments (Bank Transfer, Skrill, Neteller, USDT TRC20), but XM Group’s overall package is more aligned with the needs of Cyprus-based traders. We recommend XM Group for most retail traders in Cyprus.