XM (XM Group) Forex Broker Review
FXMARE editorial rating, not user reviews.
Reviewed by the FXMARE Research Desk under our review methodology · licences last verified 2026-06-25
Also known as XM Group, XM Trading
XM is a globally recognised multi-regulated broker founded in 2009, best known for its $5 minimum deposit, industry-leading educational content, and 1,400+ instruments across MT4/MT5 and a proprietary TradingView-powered web platform.
Spread from: 0.1 pips (raw/ECN) · Max leverage: 1:30 (EU/UK under CySEC/FCA); up to 1:1000 (offshore entities, e.g. Belize) · Instruments: 55+ forex pairs, 1,200+ stock CFDs, 30+ indices, 8+ commodities, 60+ crypto CFDs, thematic indices
Spreads, minimum deposit and leverage are indicative and vary by account type and jurisdiction — confirm current terms on the broker’s site.
Between 74% and 89% of retail investor accounts lose money when trading CFDs.
You should consider whether you understand how CFDs and leveraged products work and whether you can afford to take the high risk of losing your money. FXMARE is not a broker and does not offer these products; figures are indicative of those disclosed by regulated providers. This page is information, not financial advice. See our full risk disclosure.
FXMARE may receive compensation from some brokers listed on this page when you click a tracked link and open an account. Sponsored placements are clearly labelled. Compensation may affect which brokers we feature and where, but it does not affect our independent ratings or rankings, which follow our review methodology, and it never costs you more. See affiliate disclosure and how we make money.
XM Overview
XM is a globally recognised multi-regulated broker founded in 2009, best known for its $5 minimum deposit, industry-leading educational content, and 1,400+ instruments across MT4/MT5 and a proprietary TradingView-powered web platform.
XM (XM Group) is regulated by CySEC (Cyprus), ASIC (Australia), FCA (UK), DFSA (UAE / Dubai), FSCA (South Africa), FSA (Seychelles), FSC (Belize), FSC (Mauritius), CMA (Kenya). Independently verifiable licences include FCA (UK) — Trading.com Markets UK Ltd, FRN 705428; DFSA (Dubai) — Trading Point MENA Limited, F003484. It carries strong, well-established regulatory oversight.
EUR/USD spreads start around 0.1 pips on the raw/ECN account (about 1.7 pips on the standard, commission-free account), with $7 (Zero account only; Standard and Ultra Low are commission-free) commission. The minimum deposit is $5 and maximum retail leverage is 1:30 (EU/UK under CySEC/FCA); up to 1:1000 (offshore entities, e.g. Belize). Swap-free (Islamic) trading is offered conditionally — Available on request for clients with religious grounds. Ultra Low account is inherently swap-free on 28 major currency pairs plus Gold and Silver. On other account types, Islamic swap-free status is granted on request; XM reserves the right to apply Fair Value Adjustments on Cash Energies and Spot Metals CFDs held overnight, and can revoke swap-free status at sole discretion without notice. No time limits explicitly stated, but conditions apply per instrument class..
Platforms include MT4, MT5, TradingView, XM Mobile App. XM (XM Group) provides ~1,400+ CFDs (55+ forex pairs, 1,200+ stock CFDs, 30+ indices, 8+ commodities, 60+ crypto CFDs, thematic indices) across Forex, Stocks, Indices, Commodities, Crypto, funded via Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, Perfect Money, Apple Pay.
XM is a well-established, broadly regulated broker with genuine tier-1 oversight from CySEC, ASIC, FCA, and DFSA, making it a credible choice for traders in the EU, UK, and Australia. Its ultra-low entry cost, prolific education suite, and built-in swap-free Ultra Low account stand out. The main weaknesses are its wide Standard account spreads, the restriction of the Zero (raw spread) account to EU-entity clients only, and a 2025 enforcement action by the Philippine SEC for operating without a local licence — which, while jurisdiction-specific, is worth noting for risk-conscious traders.
Headquarters: Limassol, Cyprus · Funding: Credit/Debit Card, Bank Wire Transfer, Skrill, Neteller, Perfect Money, Apple Pay, Google Pay, SticPay
Pros
- Multi-regulated by CySEC, ASIC, FCA and DFSA — strong tier-1 coverage for EU, AU, and UK clients
- Very low entry barrier: $5 minimum deposit on Standard/Micro accounts
- Exceptional education offering: daily live webinars in 23+ languages, 77 instructors
- Zero account offers raw spreads from 0.0 pips with competitive $7 round-turn commission
- Ultra Low account provides built-in swap-free status on 28 major pairs plus Gold/Silver at no extra cost
Cons
- Standard account EUR/USD spread (~1.6–2.0 pips) is wide relative to ECN-focused competitors
- $5/month inactivity fee kicks in after 90 days — penalises inactive retail accounts
- Philippine SEC issued a cease-and-desist order (November 2025) for operating without local licence — a reputational flag for that jurisdiction
- Zero account (lowest-cost option) restricted to CySEC entity clients only — not available to offshore/international clients
XM Ratings Breakdown
XM Fees, Spreads & Leverage
XM Regulation & Entities
Licence numbers link to each regulator’s public register so you can verify them yourself. Last checked 2026-06-25.
XM is authorised by CySEC (Cyprus), ASIC (Australia), FCA (UK), DFSA (UAE / Dubai), FSCA (South Africa), FSA (Seychelles), FSC (Belize), FSC (Mauritius), CMA (Kenya). Brokers regulated in tier-1 jurisdictions are generally required to hold client money separately from company funds and may offer protections such as negative-balance protection or an investor-compensation scheme — the exact safeguards depend on the entity you sign up with. As with all trading, your capital is at risk. Confirm which entity, licence and protections apply to your country on the regulator’s register before funding an account.
Want a deeper, sourced safety check? See our broker safety checks — regulator registers, review-platform sentiment and unresolved questions, in one place.
XM Platforms & Execution
Available on desktop, web and mobile. Tradable across Forex, Stocks, Indices, Commodities, Crypto. Track every position you take with XM in the FXMARE trading journal.
XM Verdict — Is It Safe & Legitimate?
XM is a well-established, broadly regulated broker with genuine tier-1 oversight from CySEC, ASIC, FCA, and DFSA, making it a credible choice for traders in the EU, UK, and Australia. Its ultra-low entry cost, prolific education suite, and built-in swap-free Ultra Low account stand out. The main weaknesses are its wide Standard account spreads, the restriction of the Zero (raw spread) account to EU-entity clients only, and a 2025 enforcement action by the Philippine SEC for operating without a local licence — which, while jurisdiction-specific, is worth noting for risk-conscious traders.
Affiliate link · $5 min deposit · Trading CFDs is high-risk
XM — frequently asked questions
Is XM regulated?
XM states it is authorised by CySEC (Cyprus), ASIC (Australia), FCA (UK), DFSA (UAE / Dubai), FSCA (South Africa), FSA (Seychelles), FSC (Belize), FSC (Mauritius), CMA (Kenya). We last checked those licence details against the regulators' own public registers on 2026-06-25. Licences are entity-specific: the group company that onboards you depends on your country, so confirm which entity your client agreement names before depositing.
What is the minimum deposit at XM?
XM lists $5 min deposit. Minimums vary by account type, funding method and regional entity, so treat this as indicative and confirm the figure on the broker's own site for the account you intend to open.
What spreads does XM offer on EUR/USD?
XM advertises spreads from 0.1 pips (raw/ECN), with EUR/USD quoted around 1.7 pips (standard) · 0.1 pips + commission (raw). Commission: $7 (Zero account only; Standard and Ultra Low are commission-free). Advertised "from" figures are floors seen in ideal conditions rather than averages — compare total cost per round turn (spread plus commission) at the volume you actually trade.
What is the maximum leverage at XM?
XM advertises up to 1:30 (EU/UK under CySEC/FCA); up to 1:1000 (offshore entities, e.g. Belize). Leverage caps are set by the regulator of the entity you trade with, so retail clients in the UK, EU and Australia receive materially lower caps than the headline figure. Higher leverage magnifies losses as much as gains.
Does XM offer swap-free (Islamic) accounts?
Partly. XM offers swap-free trading with conditions. Available on request for clients with religious grounds. Ultra Low account is inherently swap-free on 28 major currency pairs plus Gold and Silver. On other account types, Islamic swap-free status is granted on request; XM reserves the right to apply Fair Value Adjustments on Cash Energies and Spot Metals CFDs held overnight, and can revoke swap-free status at sole discretion without notice. No time limits explicitly stated, but conditions apply per instrument class.
Which platforms does XM support?
XM supports MT4, MT5, TradingView, XM Mobile App. Platform availability can differ by entity and account type — a platform offered in one region is not guaranteed in another, so verify it is available on the specific account you plan to open.
Community Rating
Trader Reviews
No reviews yet — be the first trader to review XM.
Complaints & Resolutions
No complaints filed against XM. If you’ve had an unresolved issue, you can file one above.
FXMARE may earn a commission if you open an account through links on this page, including any placement marked Sponsored. This does not affect our independent rating of XM. Trading forex and CFDs carries a high level of risk and most retail accounts lose money. This review is information, not financial advice — verify all terms with the broker directly.
Alternatives to XM
Compare allReviewed brokers with the closest overall rating to XM’s 3.7/5, ordered by how many of the same markets they cover. Ratings are FXMARE editorial scores, not user reviews.