XM Review 2026: Regulation, Accounts, Fees and Withdrawals
By FX Handbook Editorial Team · Facts verified · Updated
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- Minimum deposit
- $5
- Regulators
- 3 (CySEC, DFSA, FSC)
- Max leverage
- 1000:1, by entity
- Platforms
- MetaTrader 4, MetaTrader 5, XM app
- Regulation and client protection (30%)5 / 5
- Trading costs (20%)4 / 5
- Deposits and withdrawals (15%)4 / 5
- Execution and platforms (15%)4 / 5
- Accounts and products (10%)3 / 5
- Transparency and support (10%)4 / 5
Based on the broker’s and regulators’ published information, without account testing. Scored with our review methodology (version 1.0). Not available to residents of: Canada, Cuba, Iran, Israel, North Korea, Syria, United States.
XM is a forex and CFD broker brand of the Trading Point group. Its Cyprus entity is licensed by CySEC and its Dubai entity by the DFSA, while xm.com, which serves most clients outside the EU, is operated by XM Global Limited under the FSC of Belize. Accounts start from a $5 deposit, with leverage of up to 1000:1 at the Belize entity and 30:1 on major pairs for EU retail clients.
Is XM regulated?
XM serves clients through the following legal entities. Each licence was checked on the regulator's own register on the date shown.
| Entity and regulator | Clients served | Protections |
|---|---|---|
| Trading Point of Financial Instruments Ltd CySEC (Cyprus), licence 120/10 Checked 3 October 2026 | Clients in the EU and EEA; licensed since 5 August 2010, with www.xm.com among its approved domains. Max retail leverage on majors: 30:1 | Negative balance protection: Yes Segregated client funds: Yes Compensation scheme: None stated |
| Trading Point MENA Limited DFSA (Dubai, UAE), licence F003484 Checked 3 October 2026 | Clients in the Dubai International Financial Centre framework; licensed since 10 September 2019 with an endorsement for retail clients. | Negative balance protection: Not stated Segregated client funds: Not stated Compensation scheme: None stated |
| XM Global Limited FSC (Belize), licence 8557558 Checked 3 October 2026 | Clients of xm.com outside the EU, where XM accepts them; licensed under Belize's Securities Industry Act 2021. Max retail leverage on majors: 1000:1 | Negative balance protection: Yes Segregated client funds: Yes Compensation scheme: None stated |
XM account types and costs
| Account | Minimum deposit | Pricing | Platforms |
|---|---|---|---|
| Standard | $5 | Spread only, no commission | MetaTrader 4, MetaTrader 5 |
| Ultra Low | $5 | Spread only, no commission | MetaTrader 4, MetaTrader 5 |
| Shares | $10,000 | Raw spread + commission on share trades, per XM's contract specifications | MetaTrader 5 |
Which XM entity would open my account?
XM is the brand of several companies in the Trading Point group, and the company that opens an account depends on where the client lives. EU and EEA clients are served by Trading Point of Financial Instruments Ltd under CySEC rules, with a 30:1 leverage cap on major pairs for retail clients, negative balance protection and restrictions on bonuses. Most clients elsewhere open accounts at xm.com with XM Global Limited, regulated in Belize, which offers leverage of up to 1000:1 and bonuses on the Standard account: forex regulation.
The protections of a Belize-regulated account differ from those of a CySEC account. Check the entity named in the client agreement before depositing: how to choose a forex broker.
XM in figures
According to XM’s own website, as of October 2026:
| Figure (according to XM) | Value |
|---|---|
| Traders | More than 20 million (XM’s “trusted by” figure) |
| Minimum deposit | $5 on the Standard and Ultra Low accounts; $10,000 on the Shares account |
| Included on all accounts | Negative balance protection, hedging and an Islamic (swap-free) option |
| Not served | Citizens of the United States, Canada, Israel and Iran, and other sanctioned countries |
These are XM’s own figures and have not been independently audited by FX Handbook.
XM Standard vs Ultra Low account
Both accounts start from a $5 deposit and are priced through the spread. The Standard account is XM’s main account and carries its bonuses; the Ultra Low account is designed for higher volumes, with lower spreads and swap fees according to XM. The Shares account, from $10,000, is for buying shares rather than trading CFDs.
How spread differences add up (illustrative only)
Assumptions: EUR/USD, 1 standard lot per trade, pip value about $10, a hypothetical 0.6 pip spread difference between two accounts, 20 trades a month.
0.6 pips × $10 × 20 trades = $120 a month in extra spread costs on the wider account.
The 0.6 pip figure is an assumption for illustration; compare the current spreads XM shows for each account before choosing one.
Are XM bonuses worth it?
Bonuses can increase trading capital on paper, but their terms often include trading volume requirements or limits on withdrawing the bonus or profits made with it. In the EU and UK, incentives to trade CFDs are restricted for retail clients, so the bonuses on xm.com are not available through XM’s CySEC entity. A bonus is not a reason to choose a broker on its own: forex scams.
XM deposits and withdrawals
XM states that it does not charge fees on deposits or withdrawals and covers transfer fees for most methods, with exceptions such as bank wires under $200, where fees may apply depending on the provider.
XM pros and cons
Pros
- Cyprus entity licensed by CySEC since 2010 and Dubai entity licensed by the DFSA, checked on the registers
- $5 minimum deposit on the Standard and Ultra Low accounts
- Negative balance protection on all accounts, according to XM
- MetaTrader 4 and MetaTrader 5
Cons
- Most clients outside the EU are served by the Belize entity, with different protections from CySEC rules
- Not available to citizens of the United States, Canada, Israel and Iran
- Bonus terms can restrict withdrawals; high leverage (up to 1000:1) increases the risk of large losses
Comparisons and rankings
Frequently asked questions
Is XM legit?
XM's Cyprus entity, Trading Point of Financial Instruments Ltd, is licensed by CySEC (120/10) and its Dubai entity by the DFSA (F003484); we checked both on the regulators' registers. xm.com is operated by XM Global Limited, regulated by the FSC of Belize.
What is the XM minimum deposit?
$5 for the Standard and Ultra Low accounts at XM Global, and $10,000 for the Shares account, according to XM.
Does XM accept US clients?
No. XM states that it does not provide services to citizens of the United States, Canada, Israel and Iran, or of other sanctioned countries.
Does XM offer a bonus?
XM Global advertises bonuses on its Standard account. Bonus terms can include trading volume or withdrawal conditions, and incentives to trade CFDs are restricted for retail clients in the EU and UK.
Sources
- Trading Point Of Financial Instruments Ltd, Investment Firms (Cypriot), Cyprus Securities and Exchange Commission
- Trading Point MENA Limited, Public Register, Dubai Financial Services Authority
- XM account types, XM
- Regulations, XM
- XM home page, XM
- Stable max leverage, XM