Broker review
XM review 2026: fees, platforms and regulation
XM, run by the Trading Point group, offers low minimum deposits and MetaTrader 4 and 5 accounts. Leverage and products depend heavily on which XM entity you join.
Figures last verified 3 Nov 2026 Checked against XM's own website and legal documents
Visit XMWe may earn a commission if you open an account through this link. It never affects our scores. Affiliate disclosure. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Key facts
Minimum deposit
$5 on Standard and Ultra Low; $10,000 on Shares
Accounts
Standard, Ultra Low, Shares (global); Zero (EU entity)
Head office
Trading Point is registered in Limassol, Cyprus
Platforms
MT4, MT5, XM App
Max leverage (global entity)
Up to 1:1000
Islamic account
Offered on all account types
Group size
XM states it has more than 20 million clients
Fees and spreads
XM does not publish one EUR/USD spread per account on the pages we checked. Check the live spread in the platform for the account you choose.
Account
EUR/USD spread
Commission
Ultra Low / Standard
"As low as 0.8 pips" (XM homepage; account not specified)
None
Zero (EU entity)
Raw
$3.50 per $100,000 per side
Platforms
XM supports MetaTrader 4, MetaTrader 5 and the XM App. cTrader and TradingView are not listed.
Regulation and legal entities
Clients outside the EU are usually onboarded by XM Global, which is regulated in Belize. Retail leverage caps and compensation schemes that apply in the EU may not apply there. XM's former Australian licence (AFSL 443670) is now held by Trading.com Markets Pty Ltd, and xm.com/au redirects to trading.com.
XM Global Ltd
FSC (Belize)
IFSC/60/354/TS/18 per XM Global's policy documents; xm.com shows 8557558
Trading Point of Financial Instruments Ltd
CySEC (Cyprus)
120/10
XM group company
DFSA (Dubai)
F003484
XM group company
FSC (Mauritius)
GB23202700
XM group company
FSCA (South Africa)
49976
XM group company
FSA (Seychelles)
SD190
XM group company
CMA (Kenya)
233
XM group company
FSC (British Virgin Islands)
SIBA/L/25/1182
Strengths
✓Very low minimum deposit.
✓Islamic option on all accounts.
✓MetaTrader 4 and 5 plus a mobile app.
✓Licensed by CySEC, with further licences in several other countries.
Things to check
✕High leverage at the global entity. Up to 1:1000 magnifies losses.
✕Spreads not published per account on the pages we checked.
✕Limited platforms. No cTrader or TradingView.
Who it may suit
Beginners who want a small first deposit on MetaTrader, provided they use conservative leverage and understand which XM entity holds their account.
Read how we score brokers, check the legal entity you would join, and compare terms side by side on our compare page.
Sources
- XM regulation
- XM account types
- XM margin and leverage
- XM costs and charges (EU)
- XM Global conflicts of interest policy
FA
Researched by the Forex Awards research desk
Terms change often and can differ by country. Always confirm the figures for your entity on the broker's site before opening an account. Spotted something out of date? Tell us.
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