XM Review 2026
Solid MetaTrader broker. Very low entry point.
Low minimum deposit and MetaTrader on every account. Good for traders who need MT4 or MT5. Leverage goes very high offshore.
The basics
XM was founded in 2009 and is headquartered in Limassol, Cyprus. It is privately owned. The broker offers CFDs on 1,400 instruments across forex, indices, commodities, and crypto. All positions are contracts for difference — there is no real asset ownership.
MetaTrader is available on all account types. Copy trading is not offered.
| Founded | 2009 |
| Headquarters | Limassol, Cyprus |
| Instruments | 1,400+ |
| Platforms | MT4, MT5, XM App |
| MetaTrader | Yes — MT4 and MT5 |
| Copy trading | No |
| Real stocks | No — CFDs only |
Is XM safe?
CySEC-regulated brokers must keep client funds segregated, provide negative balance protection under ESMA rules, and contribute to the Investor Compensation Fund (ICF), which covers up to €20,000 per client.
| Regulator | Licence | Entity |
|---|---|---|
| CySEC | 120/10 ✓ | Trading Point of Financial Instruments Ltd |
| ASIC | 443670 ✓ | Trading Point of Financial Instruments Pty Ltd |
| IFSC | 000261/158 ✓ | XM Global Ltd |
| DFSA | F003484 ✓ | XM Dubai Ltd |
You can verify the CySEC licence at www.cysec.gov.cy. The registration shows the entity name, authorisation status, and full permissions list. It takes under a minute.
XM spreads
These are the typical spreads on XM's standard account. Spreads vary by market conditions and account type. ECN or raw-spread accounts offer lower spreads in exchange for a per-trade commission.
| EUR/USD | 1.6 (std) / 0.1 (ultra-low) pips |
| GBP/USD | 1.9 pips |
| USD/JPY | 1.6 pips |
| Gold (XAU/USD) | 30c/oz |
| S&P 500 | 0.4pt |
XM's EUR/USD spread of 1.6 (std) / 0.1 (ultra-low) pips is wider than ECN-first brokers but typical for a commission-free account.
XM withdrawal fee and processing time
Fee: None. XM does not charge withdrawal fees on any method.
Processing time: 1 to 5 business days. E-wallets are usually processed same day. Bank wire transfers take 3 to 5 days.
Withdrawal requests must pass identity verification before processing. If your account is not yet fully verified (proof of identity and address submitted), expect additional delays. Verified accounts follow the standard processing times above.
XM minimum deposit by entity
The minimum deposit depends on which XM entity serves your country. Offshore entities often allow lower minimums but with less regulatory protection.
| Entity | Regulator | Min deposit | Max leverage (forex) |
|---|---|---|---|
| Trading Point of Financial Instruments Ltd | CySEC 120/10 | $5 | 1:30 |
| Trading Point of Financial Instruments Pty Ltd | ASIC 443670 | $5 | 1:30 |
| XM Global Ltd | IFSC 000261/158 | $5 | 1:1000 |
| XM Dubai Ltd | DFSA F003484 | $5 | 1:30 |
XM vs Exness
| XM | Exness | |
|---|---|---|
| Primary regulator | CySEC 120/10 | CySEC 178/12 |
| Min deposit | $5 | $3 |
| EUR/USD spread | 1.6 (std) / 0.1 (ultra-low) pips | 0.3 (std) / 0.0 (raw+) pips |
| MetaTrader | Yes | Yes |
| Instruments | 1,400+ | 200+ |
| Copy trading | No | Yes |
| Withdrawal fee | None | None |
Both brokers are regulated and legitimate. XM suits traders who value MetaTrader and algorithmic trading. Exness is better for traders who prioritise tighter spreads.
Regulation — the numbers that matter
| CySEC | 120/10 — Trading Point of Financial Instruments Ltd |
| ASIC | 443670 — Trading Point of Financial Instruments Pty Ltd |
| IFSC | 000261/158 — XM Global Ltd |
| DFSA | F003484 — XM Dubai Ltd |
Leverage for retail clients in the EU and UK is capped at 1:30 on major forex pairs under ESMA rules. The offshore entity offers up to 1:1000, but with lighter regulatory protection.
Pros and Cons
What works
- CySEC and ASIC regulated
- MetaTrader 4 and 5 available
- $5 minimum deposit
- 1,400+ instruments
- No requotes policy
- Strong education materials
What does not work
- Not available in UK or Japan
- No real stock ownership
- Copy trading not built-in
- Inactivity fee $15 after 3 months
The verdict
XM is a legitimate, regulated broker. The CySEC licence number 120/10 is verifiable on the public register. It is best suited for traders who want MetaTrader on a regulated platform. Rating: 4.2 out of 5.
Alternatives to XM
If XM does not fit your needs, these regulated alternatives are worth comparing:
Frequently asked questions
Is XM safe?
CySEC-regulated brokers must keep client funds segregated, provide negative balance protection under ESMA rules, and contribute to the Investor Compensation Fund (ICF), which covers up to €20,000 per client. XM holds CySEC licence 120/10, which is publicly verifiable on the official register.
What is the XM minimum deposit?
The minimum deposit is $5. This applies to the main regulated entity. Some offshore entities may differ. See the entity table above for full breakdown.
What is the XM EUR/USD spread?
The EUR/USD spread on XM standard accounts is typically 1.6 (std) / 0.1 (ultra-low) pips. Spreads vary with market conditions. ECN or raw accounts offer lower spreads with a per-trade commission instead.
How long does XM take to process withdrawals?
1 to 5 business days. E-wallets are usually processed same day. Bank wire transfers take 3 to 5 days.
Does XM charge withdrawal fees?
None. XM does not charge withdrawal fees on any method.
Does XM have MetaTrader?
Yes. XM supports both MT4 and MT5 on all account types. This allows automated trading, custom indicators, and expert advisors.