XM is one of the largest retail CFD brands in the world, and it is easy to see why it appeals to newcomers: accounts open from just $5, there are more than 1,400 instruments, and support runs around the clock in over 30 languages. The catch is the one that applies to many big multi-entity brokers. The XM name sits on top of several companies, and most traders outside Europe and the Middle East end up with XM Global Limited, which is licensed in Belize rather than by a top-tier regulator. Our verdict: a solid, low-barrier MetaTrader broker with a credible European parent, but international clients should be clear that their account is held offshore.
XM at a glance
| Item | Details (as of November 2026) |
|---|---|
| Founded | 2009 (CySEC licence granted August 2010) |
| Parent | Trading Point group, Limassol, Cyprus |
| Main international entity | XM Global Limited, FSC Belize licence 8557558 (offshore) |
| Top-tier / onshore entities | CySEC 120/10; DFSA F003484 |
| Minimum deposit | From $5 (Standard, Ultra Low); $10,000 (Shares) |
| Maximum leverage | Up to 1:1000 (XM Global) |
| Platforms | MT4, MT5, XM App |
| Instruments | 1,400+ across 11 asset classes |
| Restricted | USA, Canada, Israel, Iran and sanctioned countries |
Regulation and safety
XM’s own regulation page lists eight group companies. They are not equal, and the one you sign with decides what protection you get.
| Entity | Regulator | Licence | Tier |
|---|---|---|---|
| Trading Point of Financial Instruments Ltd | CySEC (Cyprus) | 120/10 | Top-tier |
| Trading Point MENA Limited | DFSA (Dubai) | F003484 | Onshore (DIFC) |
| XM ZA (Pty) Ltd | FSCA (South Africa) | 49976 | Onshore |
| TPXMGLOBAL Kenya Limited | CMA (Kenya) | 233 | Onshore |
| XM Global Limited | FSC Belize | 8557558 | Offshore |
| XM International MU Limited | FSC Mauritius | GB23202700 | Offshore |
| XM (SC) Limited | FSA Seychelles | SD190 | Offshore |
| XM (BVI) Limited | FSC BVI | SIBA/L/25/1182 | Offshore |
We confirmed the Cypriot licence on the CySEC register, which lists Trading Point of Financial Instruments Ltd under licence 120/10, authorised on 5 August 2010, with xm.com as an approved domain. Clients of this entity are covered by the Cyprus Investor Compensation Fund, which, according to XM’s own disclosure, pays up to EUR 20,000 or 90% of a valid claim, whichever is lower. The DFSA register lists Trading Point MENA Limited (F003484), licensed since September 2019 with a retail endorsement.
The international site, however, names only XM Global Limited, regulated by the Financial Services Commission of Belize. Belize is an offshore jurisdiction: capital and conduct rules are lighter, there is no investor compensation scheme comparable to the EU’s, and leverage limits are far looser. XM does state that all accounts include negative balance protection, which means you should not lose more than your deposit. Two further points: XM’s former Australian licence (AFSL 443670) now appears on the ASIC register under the name Trading.com Markets Pty Ltd, and XM’s UK clients were moved to the group’s Trading.com brand, so XM itself does not currently serve the UK or Australia under those licences.
Fees and spreads
XM keeps the account menu short. Standard and Ultra Low accounts price trading costs into the spread, while the Ultra Low account is pitched at active traders with tighter spreads and lower swaps. XM does not show a headline “spreads from” figure on its account comparison page, so check live quotes in the platform or on a demo before you commit.
| Cost item | What XM states |
|---|---|
| Standard / Ultra Low commission | None listed; cost built into the spread |
| XM Zero (CySEC entity) | USD 3.50 per side per USD 100,000 traded |
| Overnight swaps | Charged or credited at 22:00 GMT; triple rollover on Wednesdays |
| Inactivity | USD 5 per month after 90 days of no activity (CySEC cost disclosure) |
| Withdrawals | Described as free of XM fees; third-party bank charges may apply |
The inactivity rule is worth noting: once an account has been dormant for 90 days, XM can deduct USD 5 a month from any free balance. Accounts with a zero balance are not charged.
Account types
- Standard – from $5, XM’s most popular account and the one tied to its bonus offers.
- Ultra Low – from $5, lower spreads and swaps for higher-volume traders.
- Shares – from $10,000, for buying real company shares rather than CFDs.
All three include hedging, negative balance protection and an Islamic (swap-free) option. The XM Global site currently promotes a welcome and deposit bonus. XM says bonuses are non-withdrawable, vary by region and are subject to terms, so check the current terms on the official site; bonus credit adds margin but does not reduce your risk on open positions.
Platforms and tools
XM is a MetaTrader house. You can trade on MT4 or MT5 on desktop, web and mobile, or use the proprietary XM App, which combines trading with account funding. The broker also offers copy trading, competitions, and an education team that it says includes more than 70 educators. There is no cTrader or native TradingView integration listed. XM states that 99% of trades execute in under one second and that it does not requote.
Markets
The range is broad for a MetaTrader broker: forex, cryptocurrency CFDs, stock and ETF derivatives, turbo stocks, commodities, equity indices, precious metals, energies, real shares and thematic indices, more than 1,400 assets in total. The forex page highlights the top pairs, and the full list is visible after registration.
Deposits and withdrawals
Funding is in USD or the local equivalent, with the $5 minimum applying to the Standard and Ultra Low accounts. XM’s forms list cards, bank wire and e-wallets such as Neteller, but available methods differ by country, so check the members area. XM says 92.9% of withdrawals are approved automatically and that it does not charge withdrawal fees.
Who XM suits, and who should avoid it
Good fit: beginners who want to start small on MetaTrader, traders in regions served by XM Global who value 24/7 multilingual support, and anyone who wants a wide range of CFDs from one account.
Think twice: if you want the protection of a top-tier regulator, confirm before you deposit that your account is with the CySEC entity rather than XM Global. High leverage of up to 1:1000 can wipe out a small account very quickly. CFDs are complex leveraged products, and most retail accounts lose money; XM’s MENA entity, for example, reports that 72.2% of its retail accounts lose money.
Final verdict
XM offers a very low minimum deposit, a wide product list and reliable MetaTrader access, backed by a group that holds a long-standing CySEC licence. Its weak point is transparency on costs and the fact that the default international entity is offshore in Belize. Use the demo, compare live spreads, and check which XM company your client agreement names before you fund the account.
FAQ
Is XM regulated?
Yes. The group holds licences from CySEC (120/10), the DFSA, FSCA and CMA Kenya, but the international xm.com site is run by XM Global Limited under an offshore FSC Belize licence (8557558). Your protection depends on which entity you sign up with.
What is the minimum deposit at XM?
As of November 2026 the Standard and Ultra Low accounts start from $5, while the Shares account requires $10,000.
What leverage does XM offer?
XM Global advertises leverage of up to 1:1000. Clients of the CySEC entity are subject to EU retail limits, which are much lower.
Does XM offer a bonus?
The XM Global site currently promotes a welcome and deposit bonus, which it describes as non-withdrawable trading credit that varies by region. Check the current terms before relying on it.
Does XM have Islamic and demo accounts?
Yes. XM lists an Islamic option for its accounts and offers a demo account with virtual funds.
Facts checked on 8 November 2026 against the official website and regulator registers. Fees and conditions change; confirm on the official site before opening an account.