XM Global Review 2026
XM is a multi-entity forex and CFD broker with a $5 minimum deposit, Islamic accounts, and licences that include FCA, ASIC, CySEC, DFSA, FSCA, FSC Belize, FSA Seychelles and CMA Kenya.
- 92 / 100
- Compliant
- Cyprus
- ASIC
- CySEC
- DFSA
- FCA
- CMA Kenya
- FSCA
- FSA Seychelles
- FSC Belize
- Min. Deposit
- $5
- Max. leverage
- 1:1000
- Spread From
- 0.6 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
Coverage includes the UK (FCA), Australia (ASIC), EU/EEA (CySEC), DIFC/MENA (DFSA), South Africa, Kenya and international entities. Always match the XM company in your client agreement with the regulator listed here.
Investor protection
FCA UK clients may access FSCS compensation up to £85,000 on the authorised UK entity. CySEC clients may access ICF compensation up to EUR 20,000. ASIC, DFSA, FSCA, FSC, FSA and CMA entities provide regional oversight with different protection levels.
Licenses and Legal Entities
Match the legal entity and license number below against the account agreement before you deposit.
FCA · License No. 705428
Trading Point of Financial Instruments UK Limited · United Kingdom
ASIC · License No. 443670
Trading Point of Financial Instruments Pty Ltd · Australia
CySEC · License No. 120/10
Trading Point of Financial Instruments Ltd · EU / EEA
FSC Belize · License No. 8557558
XM Global Limited · Global / International
FSA Seychelles · License No. SD010
Tradexfin Limited · Global / International
XM UK legal documents name Trading Point of Financial Instruments UK Limited, trading as XM, FCA FRN 705428 (UK company 09436004). The FCA register may currently display Trading.com Markets UK Limited for the same FRN. AFSL 443670 is the Australian group licence (historically Trading Point of Financial Instruments Pty Ltd; register name Trading.com Markets Pty Ltd from November 2024). Match the company in your agreement, then verify the live register result.
Trading conditions
- Min. Deposit
- $5
- Spread From
- 0.6 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.