XM is a multi-asset CFD broker that has been operating since 2009, part of the Trading Point group. It is known for low minimum deposits and the MetaTrader platforms. In this review we look at how XM is regulated in different regions, its accounts and fees, and the risks to be aware of.
Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This review is for information only and is not investment advice.
XM at a glance
| Founded | 2009 |
| Main regulators | CySEC (EU); offshore entities in Belize and Seychelles for many international clients |
| Platforms | MT4, MT5, XM App |
| Minimum deposit | From $5 on Standard and Ultra Low accounts (varies by region) |
| Products | CFDs on forex, indices, commodities, metals, energies, stocks and crypto |
Regulation and safety
XM operates through several legal entities. Which one you join depends on where you live, and protections differ a lot between them.
- Trading Point of Financial Instruments Ltd: authorised by CySEC in Cyprus (licence 120/10), serving EU/EEA clients.
- XM Global Limited: regulated by the FSC in Belize (offshore), serving many clients outside the EU.
- XM (SC) Limited: listed by the FSA in Seychelles (offshore).
- UK and Australia: Trading Point’s UK and Australian entities appear to now operate under the Trading.com brand, so check the current brand and entity with the FCA or ASIC register before signing up.
Licence details above are as stated by XM. Always check the firm and website on the regulator’s official register before you open an account, and confirm which entity your account will be held with. Regulation does not protect you against trading losses. See our guide: How to check if a broker is legitimate.
Products and platforms
- CFDs on forex, stock indices, commodities, precious metals, energies, shares and crypto (availability depends on your region).
- Platforms: MetaTrader 4, MetaTrader 5 and the XM mobile app.
Accounts and fees
- Standard and Ultra Low accounts: minimum deposit from $5 in many regions, spread-based pricing.
- XM advertises spreads “from 0.8 pips”; typical spreads on the Standard account are wider and vary through the day.
- A Shares account has a much higher minimum deposit.
- Inactivity: XM states that accounts become dormant after 90 days without activity, after which a monthly fee of $5 applies (or the remaining balance if lower).
Fees, spreads and minimum deposits vary by region and account type and can change at any time. Check XM’s current pricing pages for your country before trading.
Leverage
In the EU, retail leverage is capped at 30:1 on major currency pairs. XM’s offshore entities advertise much higher leverage, up to 1000:1. Higher leverage increases both potential gains and losses. Read Can you lose more than you invest in forex?.
Things to be aware of
- Many international clients are placed with offshore entities (Belize or Seychelles), which offer fewer protections than EU regulation.
- Very high offshore leverage can lead to rapid losses.
- Check the current brand situation in the UK and Australia (Trading.com) before opening an account.
- XM publishes the percentage of its EU retail CFD accounts that lose money; check the current figure on its EU website.
Pros and cons
Pros
- Low minimum deposit on standard accounts
- MT4 and MT5 available
- Wide range of CFD markets
- EU entity regulated by CySEC
Cons
- Many clients served by offshore entities
- Standard account spreads are not the tightest
- Dormant account fee after 90 days of inactivity
- Brand and entity structure can be confusing in some regions
Who might consider XM?
XM may suit traders who want MetaTrader platforms and a low starting deposit, and who are able to open an account with a well-regulated entity in their region. Beginners should understand that offshore accounts offer fewer protections.
Summary
XM is a long-established CFD broker with low entry costs and the MetaTrader platforms. The main points to check are which entity you would be with, the real spreads on your account type, and the leverage you choose to use.
Information in this review was checked against XM’s published information and public regulatory records in November 2026. Details change, so always confirm the current terms on the broker’s own website and the regulator’s register.
Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This review is for information only and is not investment advice.