XM Review

Forex and CFD traders globally

CySEC ASIC DFSA FSCA FSC FSA

Founded 2009 · Cyprus · Trading Point Holdings Ltd

Why investors choose this broker

Low $5 minimum deposit on Standard and Ultra Low accounts
No deposit or withdrawal fees on standard payment methods
Regulated by CySEC and ASIC among other authorities
Over 1,400 instruments including forex, stock CFDs, indices and commodities

Review summary

XM is a multi-asset CFD and forex broker founded in 2009, offering 1,400-plus instruments across MetaTrader 4 and MetaTrader 5 with a $5 minimum deposit.

Pros

Low $5 minimum deposit on Standard and Ultra Low accounts
No deposit or withdrawal fees on standard payment methods
Regulated by CySEC and ASIC among other authorities
Over 1,400 instruments including forex, stock CFDs, indices and commodities
Full MetaTrader 4 and MetaTrader 5 support with copy trading and automated trading
Negative balance protection on all accounts
Free demo account with up to $100,000 virtual funds
Extensive multilingual educational content and live webinars

Cons

Standard account spreads are wide compared to many competitors (EUR/USD from 1.6 pips)
$5 monthly inactivity fee after 90 days
Zero account (raw spreads) limited to EU entity only
No cTrader or TradingView native integration
Crypto and some instruments unavailable through all regulatory entities
XM brand not available to UK or US residents
Shares account requires a $10,000 minimum deposit

Company background

XM is a global forex and CFD broker launched in 2009 under Trading Point Holdings Ltd, headquartered in Limassol, Cyprus. The broker operates through multiple regulated entities and serves clients in over 190 countries. XM offers access to more than 1,400 instruments spanning forex, stock CFDs, indices, commodities, crypto CFDs and thematic indices, with trading available through MetaTrader 4 and MetaTrader 5.

The brand is not available to residents of the United Kingdom or the United States, who are served by Trading Point Group's sister brand Trading.com. The Cyprus entity, Trading Point of Financial Instruments Ltd, is the primary regulated entity under CySEC and provides EU-level client protections including access to the Investor Compensation Fund.

Fees and pricing

XM offers three main account types. The Standard account uses a spread-only model with no commission and EUR/USD spreads from 1.6 pips. The Ultra Low account narrows spreads to from 0.8 pips on EUR/USD with no commission. The Zero account provides raw spreads from 0.0 pips on major pairs and applies a commission of $3.50 per lot per side; this account type is limited to the EU entity. The Shares account carries a $10,000 minimum deposit and applies per-trade commissions.

XM does not charge deposit fees on cards and e-wallets. International wire transfers above $200 are covered by XM. Withdrawal fees are not charged on standard methods, though third-party payment processor fees may apply. An inactivity fee of $5 per month is applied after 90 consecutive days of no trading activity. Overnight swap rates apply to leveraged positions held past the daily rollover, with triple swap charged on Wednesdays.

Regulation and safety

XM's primary entities are authorised by CySEC (Trading Point of Financial Instruments Ltd, licence 120/10) and ASIC (Trading Point of Financial Instruments Pty Ltd, AFSL 443670). Additional licences are held with the DFSA in Dubai (F003484), FSCA in South Africa (FSP 49976), FSC in Belize, FSC in Mauritius (GB23202700), FSA in Seychelles (SD190) and SCA in the UAE (20200000322). Client funds are held in segregated accounts at top-tier banks and are not commingled with company funds. Negative balance protection is applied across all accounts, preventing clients from losing more than their deposited balance.

Platform experience

XM supports MetaTrader 4 and MetaTrader 5 on desktop, web and mobile, along with a proprietary XM WebTrader and a dedicated XM mobile app for iOS and Android. MT4 and MT5 offer expert advisors, algorithmic trading, one-click execution and multi-chart layouts. The XM mobile app provides access to live and pending orders, real-time quotes and account management. A free demo account is available with up to $100,000 in virtual funds and can be used across MT4, MT5 and the web platform.

Pros and cons

XM's main advantages include a low $5 minimum deposit, no fees on standard deposits and withdrawals, full MetaTrader 4 and MetaTrader 5 support, a broad instrument range of over 1,400 assets, negative balance protection and a free demo account. Drawbacks include wide Standard account spreads relative to many competitors, a $5 monthly inactivity fee after 90 days, the Zero account being restricted to the EU entity, no cTrader support, and the brand not being accessible to UK or US residents.

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Trading fees & commissions

No deposit or withdrawal fees on standard payment methods. Standard accounts charge no commission with spreads from 1.6 pips on EUR/USD; the Zero account offers spreads from 0.0 pips with a $3.50 per lot per side commission. An inactivity fee of $5 per month applies after 90 days of dormancy.

Fees

Item	Fee
Cfds	Included in spread on Standard and Ultra Low accounts; Zero account applies $3.50 per lot per side commission
Crypto	Available as CFDs on select entities; costs included in spread
Margin	Overnight swap rates apply to leveraged positions held past the daily rollover; triple swap charged on Wednesdays
Account	No account opening or management fee
Deposit	No deposit fees on cards and e-wallets; international wire transfers over $200 covered by XM
Inactivity	$5 per month after 90 days of no trading activity
Withdrawal	No withdrawal fees for standard methods; third-party fees may apply

Trading platform & features

Platforms

MetaTrader 4
MetaTrader 5
XM WebTrader
iOS app
Android app

Regulation and investor protection

XM operates through entities regulated by CySEC and ASIC, and holds additional licences from DFSA, FSCA, FSC Belize, FSC Mauritius, FSA Seychelles and SCA UAE. Client funds are held in segregated accounts at top-tier banks, and negative balance protection applies across all accounts.

Broker FAQs

Is XM safe?

XM operates through entities regulated by CySEC and ASIC, both of which are considered top-tier regulators. Client funds are held in segregated bank accounts and negative balance protection applies on all accounts.

Is XM a scam?

No. XM is a regulated broker holding licences from CySEC (Cyprus) and ASIC (Australia), among other regulators, and has operated since 2009.

Is XM regulated and by whom?

Yes. XM holds licences from CySEC in Cyprus (120/10), ASIC in Australia (AFSL 443670), DFSA in Dubai (F003484), FSCA in South Africa (FSP 49976), FSC in Belize, FSC in Mauritius (GB23202700), FSA in Seychelles (SD190) and SCA in the UAE.

Does XM keep client funds in segregated accounts?

Yes. XM states that client funds are held in segregated accounts at top-tier banks and are not mixed with company funds.

What happens to my money if XM goes bankrupt?

Clients of the EU entity (CySEC-regulated) may have access to the Investor Compensation Fund, which covers eligible claims up to 20,000 EUR. Clients of other entities should check the relevant local investor protection scheme.

What products does XM offer?

XM offers over 1,400 instruments including forex (55-plus pairs), stock CFDs (1,200-plus), equity indices, commodities, precious metals, energies, cryptocurrency CFDs and thematic indices. A direct shares account is also available.

Does XM offer forex trading?

Yes. XM offers more than 55 forex currency pairs including major, minor and exotic pairs across all account types.

Does XM offer stock CFDs?

Yes. XM offers over 1,200 stock CFDs covering companies listed on major global exchanges.

Does XM offer cryptocurrency trading?

XM offers cryptocurrency CFDs on select entities. Availability depends on the regulatory entity serving a client's country of residence.

What does XM charge for forex trading?

The Standard account has no commission with EUR/USD spreads from 1.6 pips. The Ultra Low account has no commission with spreads from 0.8 pips. The Zero account has spreads from 0.0 pips and charges $3.50 per lot per side commission, available only to EU entity clients.

Does XM charge a deposit fee?

No. XM does not charge deposit fees on cards and e-wallets. International wire transfers above $200 are covered by XM.

Does XM charge a withdrawal fee?

XM does not charge withdrawal fees on standard payment methods. Third-party payment processor fees may apply in some cases.

Does XM charge an inactivity fee?

Yes. XM charges $5 per month after 90 consecutive days of no trading activity.

Does XM have a demo account?

Yes. XM offers a free demo account with up to $100,000 in virtual funds, available on MetaTrader 4, MetaTrader 5 and the XM WebTrader. Traders can hold up to five simultaneous demo accounts.

Does XM have a mobile app?

Yes. XM provides a dedicated mobile app for iOS and Android, as well as mobile versions of MetaTrader 4 and MetaTrader 5.

Is XM good for beginners?

XM offers a $5 minimum deposit, a free demo account, no deposit fees and an extensive library of educational content including webinars in multiple languages. These features make it accessible for new traders, though the inactivity fee and wide Standard account spreads are worth noting.

Is XM good for long-term investing?

XM's product range is primarily CFD-based, which involves leverage and overnight swap charges that can add cost for long-term holders. A direct shares account is available but requires a $10,000 minimum deposit.

Is XM available in the UK or US?

No. XM does not accept clients from the United Kingdom or the United States. UK residents can access services through Trading.com, which is the FCA-regulated brand operated by the same parent group.

Bottom line

XM suits users who want a low-entry CFD and forex broker with a broad instrument range, full MetaTrader 4 and MetaTrader 5 support, and regulated access across multiple jurisdictions. It may not suit users who want tight Standard account spreads, cTrader support, access from the UK or US, or a platform focused on long-term investment rather than active trading.

Forex and CFD traders globally

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