Key facts
| Fact | Value |
| Company holding my test account | XM Global Limited, FSC Belize, 8557558 Verified at source |
| Founded | 2009 Broker-stated |
| Minimum deposit | $5 (Standard, Ultra Low, Micro) · $10,000 (Shares) Broker-stated |
| EUR/USD spread I measured | 2.0 pips Standard and Micro · 1.1 pips Ultra Low (26 readings each) Tested |
| Deposit speed | Online and local bank transfer about 1 min · USDT (BEP20) about 1 min · 3 deposits Tested |
| Withdrawal speed | Online bank transfer about 1 min · USDT (BEP20) about 4 min · 2 of 5 requests completed Tested |
| XM payment fees | None on my deposits and withdrawals Tested· $15 on ERC20 stablecoin withdrawals below $300 Broker-stated |
| Account verification | About 10 min Tested |
| Platforms | MT4, MT5, XM App, XM Web Broker-stated |
| Maximum leverage | Up to 1:1000 on Standard, Ultra Low and Micro for XM Global Limited clients Broker-stated |
XM Review Verdict: Is It Worth Considering?
On my tests, XM credited all three of my deposits within about 1 minute and its Ultra Low account cost about $11 per 1-lot EUR/USD round trip. Its main weakness was withdrawal friction: two requests stalled at the face check and one was rejected because crypto deposits must be returned first.
Pros and Cons
On my test account, XM was strongest on payment speed and on Ultra Low costs. Its weak points are the extra withdrawal checks and the higher spread on the Standard account.
Pros
- Fast deposits: bank transfer and USDT (BEP20) deposits reached my account in about 1 minute each, with no XM fee Tested.
- Fast completed withdrawals: a bank withdrawal arrived in about 1 minute and a USDT withdrawal in about 4 minutes, with no XM fee Tested.
- Low gold costs on Ultra Low: about $26 per lot, against about $54 on Standard Tested.
- Quick account verification: my identity check took about 10 minutes Tested.
- Low entry: Standard and Ultra Low both open from $5, with trades from 0.01 lot Broker-stated.
- Real shares as well as CFDs: the Shares account offers about 100 real shares from a $10,000 deposit at 1:1 leverage Broker-stated.
- Free VPS for active traders who keep at least $500 in their accounts and trade 2 standard lots a month Broker-stated.
Cons
- Withdrawal checks: XM asked for a face scan and an email confirmation before each withdrawal, and the face scan did not respond on two attempts over Wi-Fi Tested.
- Crypto-first rule: my bank withdrawal on 30 Oct 2026 was rejected because I had deposited USDT, and XM returns crypto deposits first Tested.
- Higher spreads on Standard: EUR/USD averaged 2.0 pips across 26 readings, against a stated minimum of 1.6 pips Tested.
- Support starts with a bot: XM’s live chat opened with a chatbot that could not answer some of my questions Tested.
- Offshore entity: my test account is held by XM Global Limited, regulated XM’s Regulatory Track Recordin Belize, for which XM names no compensation scheme, while XM’s Cyprus company is covered by the Investor Compensation Fund up to €20,000 Broker-stated.
Score by Category
I score XM 4.0 out of 5: it scores highest on regulation disclosure (4.3) and lowest on trading costs (3.8), mainly because of the 2.0-pip EUR/USD spread on the Standard account.
| Category | Rating | Based on |
| Regulation and client protection | 4.3 | XM Global Limited on the FSC Belize register, checked 1 Nov 2026; XM’s client agreement, read 28–29 Oct 2026 Verified at source |
| Deposits and withdrawals | 4.0 | 3 deposits and 5 withdrawal requests on 30 Oct 2026 (2 completed, 2 no response, 1 rejected) Tested |
| Trading costs | 3.8 | 26 EUR/USD and gold readings per account on 29 Oct 2026 Tested |
| Platforms and tools | 3.9 | XM Web, MT4 and MT5 availability and account support checked 29 Oct 2026; my tests ran on XM Web; copy trading, research and education Tested (XM Web) |
| Customer support | 4.0 | Live chat with XM’s bot on 29 Oct 2026; some questions unanswered Tested |
Overall score: weighted average, rounded down to one decimal. How the score is calculated
4.0/5
How I Tested XM
I opened a live XM account, which XM placed with XM Global Limited, and tested it with my own money between 29 and 30 Oct 2026.
| What I tested | How | When |
|---|---|---|
| Account opening and verification | Opened a live account and passed identity checks in about 10 minutes | 29 Oct 2026 |
| Spreads | 26 readings of EUR/USD and gold on each of the Standard, Ultra Low and Micro accounts, across Asian, European and New York sessions, on XM Web | 29 Oct 2026 |
| Deposits | 3 deposits by bank transfer and USDT (BEP20) | 30 Oct 2026 |
| Withdrawals | 5 withdrawal requests by bank transfer and USDT | 30 Oct 2026 |
| Support | XM live chat | 29 Oct 2026 |
Not tested yet: order execution and slippage, MT4 and MT5, the XM App, the Shares account and how XM handles a complaint. These results come from one account over two days, so treat them as one trader’s experience.
Who XM Suits
XM suits small-account traders who want fast local payments and a $5 start, and gold traders who choose the Ultra Low account.
- Small-account traders: Standard and Ultra Low open from $5, and payment method minimums run from $5 to $50 Broker-stated.
- Gold traders: Ultra Low cost about $26 per lot in my tests, less than half of Standard, though Ultra Low is not eligible for bonuses Tested.
- Beginners practising with tiny sizes: the Micro account uses 1 lot = 1,000 units Broker-stated.
- Expert Advisor users: MT4 and MT5 both run EAs, and XM’s VPS is free above its activity threshold Broker-stated.
- Share investors with $10,000 or more: the Shares account offers about 100 real shares at 1:1 leverage Broker-stated.
Who Should Look Elsewhere
Look elsewhere if you trade EUR/USD often on a spread-only account, need UK or EU-level protection, or want withdrawals without extra identity checks.
- Cost-sensitive EUR/USD traders on Standard: about $20 per lot round trip in my tests, against $8 on the Exness Standard account Tested.
- Traders who need investor compensation: the XM documents I reviewed name no compensation scheme for XM Global Limited; only XM’s Cyprus company, which serves EEA residents, belongs to one Broker-stated.
- Traders who want quick, check-free withdrawals: every withdrawal needed a face scan and an email confirmation Tested.
- US residents: XM has not served US clients since a 2012 CFTC consent order Broker-stated.
- Traders in the Philippines: the Philippine SEC has warned that XM is not licensed there and named it in a December 2025 cease and desist order Verified at source.
Is XM Safe and Regulated?Is XM safe?
XM is regulated, but how well your money is protected depends on the XM company that holds your account, because each company has its own regulator and protections. Before depositing, check the company named in your client agreement, not the XM brand name.
Which XM Entity Will You Join?
XM assigns your entity by country of residence. My test account is held by XM Global Limited Tested, regulated by the Financial Services Commission (FSC) in Belize, under licence 8557558, which I confirmed on the FSC Belize register on 1 Nov 2026 Verified at source.
| Entity | Regulator | Jurisdiction | Licence number |
|---|---|---|---|
| XM Global Limited | FSC Verified at source, Checked 01 Nov 2026 (opens the source in a new tab) | Belize | 8557558 |
| Trading Point of Financial Instruments Ltd | CySEC Verified at source, Checked 01 Nov 2026 (opens the source in a new tab) | Cyprus | 120/10 |
| XM ZA (Pty) Ltd | FSCA Broker-stated, Checked 01 Nov 2026 | South Africa | 49976 |
| TPXMGLOBAL Kenya Limited | CMA Verified at source, Checked 01 Nov 2026 | Kenya | 233 |
Source: XM regulation page, checked 29 Oct 2026 Broker-stated. I could not find XM ZA (Pty) Ltd on the FSCA register on 1 Nov 2026, so its row stays Broker-stated.
Client Protection by Entity
For XM Global Limited, XM’s documents state segregated client funds and negative balance protection, but name no investor compensation scheme Broker-stated. Only XM’s Cyprus company belongs to a compensation fund.
| Protection | XM Global Limited (Belize) | Trading Point (Cyprus) | XM ZA (South Africa) | TPXMGLOBAL Kenya |
|---|---|---|---|---|
| Negative balance protection | Yes, in risk disclosures Broker-stated | Not checked yet | Depends on the CFD provider | Not confirmed |
| Segregated client funds | Yes, in client agreement Broker-stated | Not checked yet | Depends on the CFD provider | Reported Third-party data |
| Investor compensation | None found | Investor Compensation Fund, up to €20,000 Broker-stated | None found | Not confirmed |
| Retail leverage cap | None: up to 1:1000 | EU retail limits apply | Depends on the CFD provider | 1:400 Third-party data |
“None found” and “Not confirmed” mean the documents I reviewed did not show the protection, not that it is proven absent. Kenya details come from a third-party review , not from the CMA or a client agreement.
Segregated Funds and Negative Balance Protection
XM’s client agreement for XM Global Limited states that client money is kept separate from the company’s own money, and its risk disclosures state that your balance cannot fall below zero Broker-stated. Neither protection covers ordinary trading losses.
Sources: XM Global client agreement , checked 29 Oct 2026, and XM Global risk disclosures , checked 31 Oct 2026.
Compensation Schemes
XM’s Cyprus company is a member of the Cyprus Investor Compensation Fund (ICF), which pays eligible clients the lower of 90% of their covered claim or €20,000 Broker-stated. The XM documents I reviewed name no equivalent scheme for XM Global Limited, which holds my account, and ICF cover does not extend to it because it shares the XM brand.
- The €20,000 limit applies per eligible client against the firm, not per account.
- Some client categories are excluded, so check your classification in your client agreement.
- A compensation scheme pays only if a firm fails and cannot return client money; it never covers trading losses.
Source: XM Investor Compensation Fund statement (opens in a new tab) checked 31 Oct 2026
XM’s Regulatory Track Record
XM’s record includes a 2012 CFTC penalty and a reported 2013 CySEC fine against its Cyprus company, plus a 2024 advisory and a December 2025 cease and desist order from the Philippine SEC.
XM’s Cyprus company has two documented regulatory actions, both from 2012–2013: a $140,000 CFTC penalty for soliciting US clients and a reported €5,000 CySEC fine.
| Date | Entity | Event | Outcome | Label |
| 1 May 2012 | Trading Point of Financial Instruments Ltd | CFTC consent order for soliciting US retail forex clients without registration | $140,000 civil penalty; agreed to stop serving US clients | Verified at source |
| 27 May 2013 | Trading Point of Financial Instruments Ltd | CySEC fine reported in the press | €5,000 | Thirty-party data |
| 4 Apr 2024 | XM | Philippine SEC advisory: XM is not registered in the Philippines and has no licence to offer securities there | Public warning | Verified at source |
| 10 Dec 2025 | Trading Point Holdings Limited, operating as XM, XM.COM, XM Global Limited and XM Philippines | Philippine SEC cease and desist order | Verified at source |
How to Verify XM’s Licence Yourself
To check XM’s licence, find the company named in your client agreement and look it up on that regulator’s own register, not through a link on an XM page.
- Find your company: the client agreement and the footer of your client area name it. Mine was XM Global Limited.
- Open the register for that company:
- XM Global Limited: FSC Belize register — search the company name.
- Trading Point of Financial Instruments Ltd: CySEC register — licence 120/10.
- TPXMGLOBAL Kenya Limited: CMA register — licence 233.
- XM ZA (Pty) Ltd: FSCA register — I could not confirm this entry on 1 Nov 2026.
- Match the company name, licence number and status with what XM states.
- Check the domain: the register entry should list xm.com or a domain you recognise.
- Save a screenshot with the date, and check again if XM moves your account to another company.
XM Fees: Tested Spreads, Commissions and Hidden Costs
A 1-lot EUR/USD round trip cost about $20 on Standard and about $11 on Ultra Low in my tests, with no commission on either account. Gold was cheaper on Ultra Low too, at about $26 per lot against about $54 on Standard.
Measured Spreads and Commissions
On 29 Oct 2026 I measured EUR/USD at 2.0 pips on Standard and Micro and 1.1 pips on Ultra Low, and gold at about $54 per lot on Standard and $26 on Ultra Low Tested.
| Account | Min deposit | Spread from | Commission | EUR/USD spread, avg (min-max) | XAU/USD spread per lot |
|---|---|---|---|---|---|
| Standard | 5$ | from 1.6 pips | None | 2.0 pips (1.9–2.1) | $54 per lot |
| Ultra Low | 5$ | from 0.8 pips | None | 1.1 pips (1.0–1.2) | $26 per lot |
| Micro | 5$ | from 1.6 pips | None | 2.0 pips (1.9–2.1) | $0.55 per lot |
Source: my readings on XM Web on 29 Oct 2026: 26 readings per account (10 Asian, 10 European, 6 New York) Tested. Minimum deposit, “spread from” and commission are Broker-stated on the XM account types page, checked 29 Oct 2026.
Testing conditions: Standard and Ultra Low use 1 lot = 100,000 units and Micro uses 1 lot = 1,000 units. EUR/USD spreads held steady across all three sessions on every account. On Standard, the gold spread was slightly lower in the New York session ($52 average) than in the Asian and European sessions ($55) Tested.
Micro gold cost $0.55 per micro lot, one-hundredth of the Standard figure, which matches its 1,000-unit lot size.
All-In Cost Example
Without commission, the spread is the whole trading cost on XM Standard and Ultra Low: a 1-lot EUR/USD round trip cost about $20 on Standard and $11 on Ultra Low in my tests.
Trading Cost Calculator
Minimum 0.01 lot, in steps of 0.01.
| Account | EUR/USD | XAU/USD | ||||
|---|---|---|---|---|---|---|
| Spread | Commission round turn | Total | Spread | Commission round turn | Total | |
| Standard | $20.00 | $0.00 | $20.00 | $54.00 | $0.00 | $54.00 |
| Ultra Low | $11.00 | $0.00 | $11.00 | $26.00 | $0.00 | $26.00 |
| Micro | $0.20 | $0.00 | $0.20 | $0.55 | $0.00 | $0.55 |
Spread cost and commission = value per 1.00 lot x LOT, from the account type data; total = spread cost + commission. Commission is round turn: opening and closing the position together. N/A: a value has not been entered. Swaps and other fees are not included.
Spread cost = average spread in pips × $10 per pip for 1 standard lot of EUR/USD. On Micro, one pip on 1 lot (1,000 units) is worth $0.10.
Swaps, Inactivity and Non-Trading Fees
XM charged no deposit or withdrawal fees in my tests Tested. The costs to watch are overnight swaps, ERC20 stablecoin withdrawal fees, currency transfer fees, a dormant-account fee and the VPS charge Broker-stated, each explained below.
- Overnight swaps: Swap rates change daily, so check the current rate in your platform before holding a trade overnight.
- Swap-free trading: Ultra Low and Shares accounts are listed as swap-free; Standard is not Broker-stated.
- Dormant-account fee: if you go 90 days without trading, depositing, withdrawing or moving money, XM marks the account dormant, charges $10 a month, takes the whole balance if it is under $10, and removes any bonus Broker-stated.
- VPS: free if you keep at least $500 across your XM accounts and traded at least 2 standard round-turn lots (or 200 micro lots) of forex, gold or silver in the past 30 days. Otherwise XM deducts $25 a month, pro-rated for the days left in the month Broker-stated
- Payment fees: none from XM on my 3 deposits and 2 completed withdrawals; the USDT network took 0.01 USDT on one deposit Tested.
- ERC20 withdrawals: XM charges $15 on USDT or USDC withdrawals over the ERC20 network below $300; my BEP20 withdrawal was free Broker-stated.
- Internal transfers: 0.3% when moving money between XM accounts with different base currencies Broker-stated.
Withdrawals and Deposits: Timed Test Results
On my test account, all three deposits arrived within about 1 minute and both completed withdrawals within about 4 minutes, and XM charged no fees. I made 3 deposits and 5 withdrawal requests on 30 Oct 2026: two stalled at the face check and one was rejected under XM’s crypto-first rule. These results come from a small number of transactions on one account, so treat them as one trader’s experience, not a guarantee.
Deposit Speed by Method
Bank transfers and USDT (BEP20) were equally fast: each of my three deposits, from $28.84 to $50, was credited in about 1 minute Tested.
| Deposit method | Amount | Time to credit | XM fee | Date |
| Online bank transfer | $28.84 | About 1 min | None | 30 Oct 2026 |
| USDT (BEP20) | $50.00 | About 1 min | None | 30 Oct 2026 |
| Local bank transfer | $28.84 | About 1 min | None | 30 Oct 2026 |
Withdrawal Speed by Method
My two completed XM withdrawals took about 1 minute by bank transfer and about 4 minutes by USDT, from request to receipt; the other three requests did not complete Tested.
| Withdrawal method | Amount | Time to receive | XM fee | Result | Date |
| Online bank transfer | $100.00 | – | – | No response: face scan did not respond on Wi-Fi | 30 Oct 2026 |
| Online bank transfer | $100.00 | – | – | No response: face scan did not respond on Wi-Fi | 30 Oct 2026 |
| Online bank transfer | $57.68 | – | – | Rejected: crypto deposits must be returned first | 30 Oct 2026 |
| USDT (BEP20) | $50.00 | About 4 min (approved in 1 min) | None | Completed | 30 Oct 2026 |
| Online bank transfer | $57.68 | About 1 min | None | Completed | 30 Oct 2026 |
Limits and Fees
XM took no fees on my deposits and withdrawals. Its stated deposit limits by method are below Broker-stated; the one withdrawal fee XM lists is $15 on ERC20 stablecoin withdrawals below $300.
| Method | Minimum | Maximum |
| Mobile banking (Vietnam) | VND 750,000 | VND 300,000,000 |
| Momo (Vietnam) | VND 350,000 | VND 200,000,000 |
| Cryptocurrencies | $50 | $10,000 |
| Neteller | $5 | $10,000 |
| Skrill | $5 | $10,000 |
| Google Pay | $20 | $1,000 |
Source: XM deposit page in my account checked 30 Oct 2026. Binance Pay was under maintenance during my test.
Same-name rule: every payment must come from an account in your own name, matching the name on your XM account Broker-stated.
Crypto deposits: XM states it credits them within 60 minutes, that each deposit address can be used only once, and that extra checks by its payment providers can cause delays Broker-stated.
Withdrawal order: crypto deposits are returned first, which is why my first bank withdrawal was rejected Tested.
Verification and Delays
Account verification took about 10 minutes; my only delays were the face check and the crypto-first rule. Each withdrawal required a face scan and an email confirmation before XM approved it Tested.
- Face scan: it did not respond on two attempts over Wi-Fi; after the scan completed, my bank withdrawal arrived in about 1 minute Tested.
- Crypto-first rule: if you deposited by crypto and by bank, withdraw the crypto amount back to the same wallet first.
Account Types and Minimum Deposits
XM offers Standard and Ultra Low from a $5 minimum deposit, a Micro account for very small positions and a Shares account for real shares from $10,000 Broker-stated. None of these accounts charges commission on forex.
Account Types at a Glance
The main trade-off is between Standard and Ultra Low: Ultra Low has the lower spread and is swap-free, while Standard runs on MT4, takes more base currencies and is eligible for bonuses Broker-stated.
| Account | Minimum deposit | Pricing | Max leverage | Base currencies | Swap-free | Platforms |
| Standard | $5 | Spread only, from 1.6 pips | 1:1000 | USD, EUR, JPY, GBP, AUD, CHF, ZAR, HUF, SGD, PLN | No | Web, MT4, MT5 |
| Ultra Low | $5 | Spread only, from 0.8 pips | 1:1000 | USD, EUR, GBP, AUD, ZAR, SGD | Yes | Web, MT5 |
| Micro | $5 | Spread only, 1 lot = 1,000 units | 1:1000 | USD, EUR, JPY, GBP, AUD, CHF, ZAR, HUF, SGD, PLN | Yes | Web, MT4, MT5 |
| Shares | $10,000 | Spread of the underlying exchange | 1:1 | USD | Yes | Web, MT4?, MT5 |
Source: XM account types page, checked 29 Oct 2026 Broker-stated.up to 1:1000 on Standard and Ultra Low
What Is the Real Minimum Deposit?
The lowest amount XM accepts on Standard, Ultra Low and Micro is $5 Broker-stated but most payment methods have higher minimums: $50 for crypto and VND 750,000 for mobile banking (Vietnam). With 1:1000 leverage, a 0.01-lot EUR/USD trade needs about $1.10 of margin.
Which Account Fits Which Trader
Ultra Low was cheaper than Standard on both EUR/USD ($11 vs $20) and gold ($26 vs $54) in my tests, so Standard only makes sense if you need MT4, a base currency that Ultra Low does not offer, or bonus eligibility.
- Learning with very small sizes: Micro, where 1 lot is 1,000 units and EUR/USD cost about $0.20 per micro lot in my tests Tested.
- Regular forex and gold traders: Ultra Low Tested.
- MT4 users with existing EAs: Standard or Micro, because Ultra Low runs only on MT5 Broker-stated.
- Share investors with $10,000 or more: Shares, at 1:1 leverage Broker-stated.
- Bonuses: Standard and Micro are eligible for XM’s bonuses and Ultra Low is not Broker-stated.
Leverage, Margin and Risk Controls
XM offers leverage of up to 1:1000 on Standard, Ultra Low and Micro Broker-stated, and higher leverage magnifies losses as much as gains. At 1:1000, opening 1 lot of EUR/USD at 1.1000 needs about $110 of margin, so an 11-pip move against you equals that whole margin.
Leverage Caps by Entity
Your maximum leverage at XM depends on the company that holds your account: up to 1:1000 at XM Global Limited, which has no regulator-set retail cap, against lower caps at XM’s Cyprus and Kenya companies.
| Entity | Forex majors | Retail cap set by regulator |
| XM Global Limited | Up to 1:1000 | No |
| Trading Point of Financial Instruments Ltd | Not checked yet | Yes (EU rules) |
| TPXMGLOBAL Kenya Limited | Up to 1:400 | Yes (Kenyan rules) |
Weekend Leverage Limit
In the last hour before markets close on Friday, XM caps leverage at 1:250 on the instruments the rule covers Broker-stated. Margin on open positions rises when the cap applies, so check your free margin before Friday’s close if you hold trades over the weekend.
Source: reply from XM’s live chat bot on 29 Oct 2026. I have not yet found this rule in XM’s published terms, so confirm the current cap with support before holding large positions over the weekend.
Margin Call and Stop-Out
XM’s client agreement sets the margin call at 50% margin level and the stop-out at 20%, when XM starts closing your positions Broker-stated. If a fast move takes your account below zero, negative balance protection resets it to zero; see Is XM Safe and Regulated?
Platforms and Tools
XM offers XM Web, MT4, MT5 and the XM app Broker-stated. I ran my tests on XM Web, which showed live bid and ask prices for all three of my accounts in one browser tab, and switching between the accounts was smooth Tested.
Platforms and Apps
MT5 and XM Web support all four XM account types, while MT4 supports only Standard and Micro Broker-stated.
| Platform | Accounts supported | Devices | Best for |
| MetaTrader 4 (MT4) | Standard, Micro | Windows, macOS 11.0+, Android 6.0+, iOS 13.0+ | Expert Advisors (automated strategies) and classic charting |
| MetaTrader 5 (MT5) | Standard, Micro, Ultra Low, Shares | Windows, macOS 12.0+, Linux, Android 6.0+, iOS 15.0+ | More order types and analysis tools, automated trading |
| XM Web | Standard, Micro, Ultra Low, Shares | Windows, macOS, Linux, Android, iOS in browser | Trading without installing software |
| XM App | Standard, Micro, Ultra Low, Shares | Android 8.0+, iOS 15.4+, macOS 12.3+ | Managing the account and trading on mobile |
Copy Trading, Research and VPS
Beyond the trading platforms, my test account had access to copy trading, XM’s research reports and tutorial videos Tested, and XM offers a VPS for Expert Advisors Broker-stated.
- Copy trading: each strategy leader sets the minimum investment and fee; on my account I saw minimums from $50 and fees from 1% to 50% of profits Tested.
- Research: XM publishes technical analysis, stock market, crypto and special reports, and they were available on my account Tested.
- Education: XM’s tutorial videos were available on my account Tested.
- VPS: free above $500 balance and 2 standard lots traded in 30 days; otherwise $25 a month, pro-rated Broker-stated.
Markets, Support and User Reputation
On XM Web I counted 92 instruments across forex, metals, indices, commodities and energies, plus 34 crypto CFDs Tested. I counted about 100 real shares in the XM Web symbol list Tested, and a third-party review puts its share CFDs at over 1,200 Third Party. XM’s live chat started with a bot that answered some of my questions but not others Tested, and its Trustpilot rating is 2.48/5 from 3,079 reviews Third party.
Instruments
On XM Web on 29 Oct 2026 I counted 40 forex pairs, 36 indices, 34 crypto CFDs and about 100 real shares, plus smaller groups of metals, commodities and energies; the totals apply to XM Global Limited Tested.
| Asset class | Number | Examples | Label |
|---|---|---|---|
| Forex | 40 | EUR/USD, GBP/USD, USD/JPY | Tested |
| Metals | 4 | Gold, silver, palladium, platinum | Tested |
| Indices | 36 | US100, US30, JP225 | Tested |
| Commodities | 8 | Cotton, soybeans, wheat, cocoa, copper, sugar, corn, coffee | Tested |
| Energies | 4 | WTI oil, Brent, London gas oil, natural gas | Tested |
| Share CFDs | 1,200+ | Nvidia, Tesla | Broker-stated |
| Crypto CFDs | 34 | Bitcoin, Ethereum | Tested |
| Real shares (Shares account) | 100 | Nvidia, Tesla | Tested |
I counted forex, metals, indices, commodities, energies, crypto CFDs and real share on my account; the share CFD counts are third-party data.
- Commodities and energies are listed as futures CFDs, which usually have expiry dates and rollovers; check the contract specifications in your platform before holding them Broker-stated.
- Availability varies by entity: the list above applies to XM Global Limited.
Customer Support
XM’s live chat opened with a chatbot on 29 Oct 2026. It answered some questions, such as the Friday leverage limit, but could not answer others Tested.
User Reputation
XM has a 2.48/5 Trustpilot rating from 3,079 reviews, checked 1 Nov 2026 Third party. A star rating does not show how common a problem is among all clients.
XM vs Other Brokers
XM’s Standard account cost $20 for a 1-lot EUR/USD round trip in my tests, against $8 on the Exness Standard account, while XM’s fastest withdrawal, about 1 minute by bank transfer, matched the fastest Exness withdrawal in my tests (about 1 minute by USDT).
| XM | Exness | |
|---|---|---|
| Entity tested | XM Global Limited (FSC Belize) | Exness (SC) Ltd (FSA Seychelles) |
| EUR/USD round trip, Standard account | $20 | $8 |
| EUR/USD round trip, cheapest account tested | $11 (Ultra Low) | $5 (Raw Spread and Zero, with commission) |
| Gold round trip, cheapest account tested | $26 (Ultra Low) | $15 (Raw Spread and Zero, with commission) |
| Fastest withdrawal | About 1 min (bank transfer) | About 1 min (USDT) |
| Withdrawal requests not completed | 3 of 5 | 1 of 4 |
| Minimum deposit | $5 | $10 |
| Maximum leverage | 1:1000 | Unlimited for eligible accounts |
| Score | 4.0/5 | 4.4/5 |
Both brokers’ costs come from 26 readings per account: XM on XM Web on 29 Oct 2026 and Exness on Exness Terminal (web) on 22 Oct 2026. Read the full Exness review or compare brokers side by side
Reasons XM May Not Fit: Risks and Red Flags
XM may not fit you if you need UK or EU-level investor protection, trade EUR/USD often on a spread-only account, or cannot afford fast leveraged losses. My account sits with an offshore company in Belize that allows leverage of up to 1:1000.
Entity and Offshore Protection Gaps
If your account sits with XM Global Limited, you do not get the retail leverage limits or the Investor Compensation Fund that apply to clients of XM’s Cyprus company.
| Protection | XM Global Limited |
|---|---|
| Regulator and licence | FSC Belize, licence 8557558 Verified at source |
| Segregated client funds | Yes, per the client agreement Broker-stated |
| Negative balance protection | Yes, per the client agreement Broker-stated |
| Investor compensation scheme | None named in XM’s documents Broker-stated |
| Retail leverage limit | None: up to 1:1000 Broker-stated |
Red flag to avoid: assuming you have CySEC protection because XM holds a Cyprus licence. That licence, and its €20,000 compensation cover, apply only to clients of Trading Point of Financial Instruments Ltd. Likewise, an FSCA licence for XM ZA does not mean XM ZA holds your money. Use the steps in How to Verify XM’s Licence Yourself to confirm which company holds your account.
CFD Loss Rates and Leverage Risk
CFDs can lose you money quickly, and leverage of up to 1:1000 magnifies that risk. My account’s company does not publish a loss rate.
- Leverage: at 1:1000, an 11-pip move against a 1-lot EUR/USD position wipes out $110 of margin.
- Weekend cap: leverage drops to 1:250 in the last hour before Friday’s close, which can push open positions toward a margin call Broker-stated.
- Stop-out: XM starts closing positions at 20% margin level, after a margin call at 50% Broker-stated.
- Price gaps: prices can jump past your stop-loss over weekends or around news releases.
- Slippage: market orders can fill at a worse price than the one you requested, most often around news releases.
- Payment rules: crypto deposits are returned first, and every withdrawal needs a face scan, so plan withdrawals before you need the money Tested.
Fake XM Websites and Clone Scams
The XM name is copied by clone sites, so check the domain and the company name before you send money.
- Type xm.com yourself instead of following links from ads, messages or social media.
- Read the company name and licence number in the site footer.
- Look up that name and number on the regulator’s own website.
- Check that emails come from the same official domain.
- Pay only to accounts in the name of your XM entity, never to an individual.
Checklist Before Depositing
Before you fund an XM account, work through these eight checks:
- Eligibility: confirm XM accepts clients from your country for the account you want.
- Entity: find the company named in your client agreement and look it up on its regulator’s register.
- Protection: read that company’s terms on segregated funds, negative balance protection, compensation and complaints.
- Costs: compare the measured spread for the markets you trade, using Measured Spreads and Commissions, not the advertised minimum.
- Platform: check that your account type runs on the platform you want, because Ultra Low is MT5 only.
- Leverage: pick a leverage you can afford to be wrong with, and note the weekend cap and the stop-out level.
- Small test: deposit and withdraw a small amount through your planned method and time it.
- Records: keep your client agreement, fee pages, payment confirmations and dated screenshots.
XM suits traders whose own checks confirm a low entry cost, MT4 or MT5 and the protections of the company holding their account. This review is not personal financial advice. The questions below cover what readers ask most about XM; where a section holds the evidence, the answer links back to it.
Questions Readers Also AskI counted the instruments below on XM Web on 29 Oct 2026
Short answers to the questions readers ask most about XM, covering safety, deposits, withdrawals, fees, swap-free accounts and bonuses, each based on my live-account tests or XM’s own documents.
Is XM safe?
XM is a regulated broker group, but your protection depends on the company that holds your account. My account is with XM Global Limited, regulated by the FSC in Belize, whose documents state segregated funds and negative balance protection but no compensation scheme; only EEA clients of XM’s Cyprus company get compensation cover of up to €20,000 Broker-stated. The Philippine SEC has also warned against XM and named it in a December 2025 cease and desist order Verified at source. See Is XM Safe and Regulated?
Is XM real or fake?
XM is a real broker group, operated by Trading Point and founded in 2009, with companies regulated in Belize, Cyprus, South Africa and Kenya Broker-stated. Clone sites use the XM name, so sign up only through xm.com and check the company name on the regulator’s register. See How to Verify XM’s Licence Yourself.
What is the minimum deposit at XM?
The minimum deposit is $5 on the Standard and Ultra Low accounts and $10,000 on the Shares account Broker-stated. Payment methods set higher minimums: $50 for crypto and VND 750,000 for mobile banking (Vietnam). See Account Types and Minimum Deposits.
Which deposit and withdrawal methods does XM support?
XM supports bank transfers, mobile banking, Momo, crypto, Neteller, Skrill and Google Pay, depending on your country Broker-stated. In my tests, bank transfer and USDT deposits arrived in about 1 minute Tested. See Withdrawals and Deposits: Timed Test Results.
Is XM good for beginners?
XM is accessible for beginners: Standard and Ultra Low open from $5 and the Micro account lets you trade 1,000-unit lots Broker-stated. The risk is leverage of up to 1:1000, so beginners should choose a much lower leverage. See Leverage, Margin and Risk Controls.
Why can’t I withdraw money from XM?
The most common reasons are an unfinished face scan, the rule that crypto deposits must be returned first, and payments from an account in someone else’s name. Two of my withdrawals stalled at the face scan and one was rejected under the crypto-first rule Tested. See Verification and Delays.
How long does an XM withdrawal take?
My completed XM withdrawals took about 1 minute by bank transfer and about 4 minutes by USDT (BEP20), with no XM fee Tested. Each one needed a face scan and an email confirmation first, so allow extra time if the scan fails. See Withdrawals and Deposits: Timed Test Results.
Does XM charge deposit or withdrawal fees?
XM charged no fees on my 3 deposits and 2 completed withdrawals; only the USDT network took 0.01 USDT on one deposit Tested. XM lists a $15 fee on ERC20 USDT or USDC withdrawals below $300 Broker-stated. Your bank may still charge for transfers. See Limits and Fees.
Does XM offer swap-free accounts?
Yes. XM lists the Ultra Low and Shares accounts as swap-free, while the Standard account charges overnight swaps Broker-stated. See Swaps, Inactivity and Non-Trading Fees.
Do XM bonuses have withdrawal conditions?
XM states that profits you make while trading with bonus funds can be withdrawn at any time Broker-stated, but I have not checked the conditions on the bonus amount itself, so read XM’s bonus terms before accepting one. Only Standard and Micro accounts can receive bonuses; Ultra Low cannot.
Update History
I first published this review on 31 Oct 2026 and last changed it on 5 Nov 2026; the score has stayed at 4.0/5.
| Date | What changed |
| 31 Oct 2026 | First published with a score of 4.0/5. Spreads measured on 29 Oct 2026; deposits and withdrawals tested on 30 Oct 2026; support checked by live chat on 29 Oct 2026 |
| 1 Nov 2026 | Checked XM’s licences on the FSC Belize, CySEC and CMA registers; added a testing summary, inactivity fee, Trustpilot rating and corrected figures and labels. Score unchanged at 4.0/5 |
| 2 Nov 2026 | Replaced the licence check steps with XM’s own registers; rewrote the dormant-account fee and bonus answer; added an XM Web observation and copy trading fees; corrected labels. Score unchanged at 4.0/5 |
| 5 Nov 2026 | Expanded the comparison with Exness and removed a repeated sentence in the platforms section. Score unchanged at 4.0/5 |
| 6 Nov 2026 | Added the Philippine SEC advisory and cease and desist order to the regulatory record; added Micro to the minimum deposit and leverage details. Score unchanged at 4.0/5 |
