XM Global Review 2026
XM is a multi-entity forex and CFD broker with a $5 minimum deposit and Islamic accounts. XM-branded accounts are offered through CySEC, DFSA, FSCA, CMA Kenya, FSC Mauritius, FSA Seychelles and FSC Belize entities; the Trading Point group's FCA and ASIC licences operate under the separate Trading.com brand, and Tradexfin Limited (FSA Seychelles SD010) operates the separate XMTrading brand.
- Compliant
- Cyprus
- ASIC
- CySEC
- DFSA
- FCA
- CMA Kenya
- FSCA
- FSA Seychelles
- FSC Belize
- FSC Mauritius
- Min. Deposit
- $5
- Max. leverage
- 1:1000
- Spread From
- 0.8 pip
- Commission
- $0
- Trading platforms
- MetaTrader 4, MetaTrader 5 and XM mobile trading apps.
Key features
- $5 minimum deposit for small account starts
- MT4/MT5 access with micro and standard lot options
- Islamic account availability in supported regions
- Broad regulator footprint across multiple regions
Regional coverage
XM-branded coverage includes EU/EEA (CySEC), DIFC/MENA (DFSA), South Africa (FSCA), Kenya (CMA) and international entities (FSC Mauritius, FSA Seychelles, FSC Belize). UK and Australian residents are served by the group's Trading.com brand instead. MAS blocked XM Global websites in Singapore from June 2025 and Brazil's CVM issued a 2026 stop order against the group, so residents of those countries should not expect a licensed XM route. Always match the company in your client agreement with the regulator listed here.
Investor protection
EU/EEA clients of Trading Point of Financial Instruments Ltd (CySEC) may be eligible for Investor Compensation Fund cover up to EUR 20,000. XM Global Limited (FSC Belize) and the other offshore entities do not offer FSCS or ICF compensation. UK FSCS eligibility applies only to Trading.com Markets UK Limited clients, not to XM-branded accounts.
Licenses and Legal Entities
Match the legal entity and license number below against the account agreement before you deposit.
FCA · License No. 705428
Trading.com Markets UK Limited · United Kingdom (Trading.com brand)
ASIC · License No. 443670
Trading.com Markets Pty Ltd · Australia (Trading.com brand)
CySEC · License No. 120/10
Trading Point of Financial Instruments Ltd · EU / EEA
FSC Mauritius · License No. GB23202700
XM International MU Limited · UAE and selected jurisdictions
FSA Seychelles · License No. SD190
XM (SC) Limited · Global / International
FSC Belize · License No. 8557558
XM Global Limited · Global / International
FSA Seychelles · License No. SD010
Tradexfin Limited · Japan-focused (XMTrading brand)
Trading.com Markets UK Limited (FCA FRN 705428, UK company 09436004, formerly Trading Point of Financial Instruments UK Limited until January 2025) and Trading.com Markets Pty Ltd (ASIC AFSL 443670, renamed in November 2024) are Trading Point group companies that operate under the Trading.com brand, not XM. They are listed for transparency but are not XM retail routes. Match the company in your agreement, then verify the live register result.
Trading conditions
- Min. Deposit
- $5
- Spread From
- 0.8 pip Standard
- Commission
- $0
- Max. leverage
- 1:1000
- Islamic
- Yes
- Trading platforms
- MetaTrader 4, MetaTrader 5 and XM mobile trading apps.
Spreads shown are minimum values from the lowest-spread account type. Actual spreads vary by account, instrument, and market conditions. Islamic (swap-free) account availability may depend on your region and entity. Always verify directly with the broker.
8-pillar score
Weighted /100
Pros
- Holds at least one tier-1 licence (FCA, ASIC, CySEC, DFSA, CFTC/NFA or FMA).
- Multiple legal entities are documented, so you can match the company in the client agreement.
- Published minimum deposit is $5, which is usable for a small live test.
- Islamic / swap-free accounts are published as available in supported regions.
- Both MetaTrader 4 and MetaTrader 5 are listed.
Cons
- At least one offshore entity is in the group. Protection and leverage follow that company, not the brand name.
Usually not for
- Traders who will only execute from TradingView.
- US residents who need a CFTC/NFA retail forex broker.
How do I choose a licensed forex broker?
Choose the entity licensed where you live — FCA (UK), CySEC (EU), ASIC (Australia) or DFSA (Dubai/Gulf) — and match its license number to the client agreement before you deposit.
Detailed explanation
A brand is not a license. Compensation, leverage caps and complaints follow the company that opens the account. CySEC covers the EEA (Cyprus ICF). FCA sits under UK rules and the FSCS. ASIC serves Australian retail clients. DFSA serves the DIFC. Offshore entities such as FSA Seychelles or FSC Belize sit outside those schemes.
Example
A UK account under an FCA-authorised company can use the Financial Ombudsman and, if the firm fails, the FSCS (up to £85,000). The same brand’s Seychelles entity would not.
Common mistake
Treating a CySEC, FCA or ASIC logo on a landing page as proof that your account is covered. Many groups onboard international clients through an offshore company. If the agreement names that company, the EU, UK or Australian compensation scheme does not apply.
Professional tip
Search the official register by license number, not only by brand. Confirm the status is authorised or active, that forex or CFDs are listed, and that the legal name matches the agreement before the first deposit.