XM offers accessible retail CFD trading with low deposit barriers, though international accounts operate under offshore Belize oversight without statutory compensation.
Spreads from
1.6 pips
Commission
$0 (spread-only)
Min deposit
$5
Established
2009
Regulated by
CySEC · DFSA (Dubai) · FSCA (South Africa), intermediary · FSC (Belize) · FSA Seychelles
Written byLaverlane Team·Updated12 Oct 2026
Researched with AI assistance and verified by our editors
Regulation
XM operates under a multi-entity framework where international retail traders contract with an offshore Belize entity.
International retail clients contract with XM Global Limited in Belize under FSC oversight without statutory insurance. Other group companies hold licences from CySEC in Cyprus (120/10), the DFSA in Dubai (F003484), the FSCA in South Africa (FSP 49976) and the FSA in Seychelles (SD190), but international accounts operate under XM Global Limited's FSC Belize licence (8557558), which lacks statutory compensation protection.
Key facts
XM has expanded since 2009 into a major global retail broker offering multi-asset CFD trading.
Client-facing entity
XM Global Limited (Belize)
Regulators
CySEC, DFSA (Dubai), FSCA (South Africa), intermediary, FSC (Belize), FSA Seychelles
Restricted countries
US, CA, IL, IR
Negative-balance protection
Yes
Minimum deposit
$5
Max leverage (UK/EU retail)
1:30
Max leverage (offshore entity)
1:1000
Typical EUR/USD spread
2 pips
Platforms
MT4, MT5, Proprietary
Established in 2009, XM operates through a multi-entity structure with licences from CySEC in Cyprus and the DFSA in Dubai, alongside offshore licences in Belize and Seychelles. International clients contract with the Belize entity, so they sit outside the EU investor protections that apply to CySEC clients. Clients in the EEA are onboarded by Trading Point of Financial Instruments Ltd, which is regulated by CySEC.
Best for
Pros & cons
Fund safety
XM keeps client funds segregated from its corporate operational accounts across partner banks.
Client funds are segregated by XM Global Limited in partner financial institutions, though no statutory compensation scheme applies. That keeps your money apart from XM's own, but there's no government-backed scheme to pay you back if XM goes bust.
Account terms
Client agreements include standard market maker provisions, a dormant account fee and broad profit-cancellation rights.
Negative balance protection applies on a per-account basis, preventing client balances from dropping below zero, although XM can withdraw it where it detects abuse. The client agreement also allows XM to close all of a client’s accounts and cancel all profits if it judges swap-free trading to be improper, including holding large overnight positions on swap-free instruments, which is why this category loses points.
Costs
XM prices trades mainly through spread mark-ups on its Standard and Ultra Low accounts.
XM publishes an average EUR/USD spread of 2.0 pips on its Standard account, with a minimum of 1.6, which sits at the wider end of the commission-free market. The 4.7 score reflects the Ultra Low account, where EUR/USD spreads start from 0.8 pips with no commission, rather than the Standard account. The Ultra Low account lowers the minimum EUR/USD spread to 0.8 pips without adding a commission, while dormant accounts are charged $10 a month after 90 days without activity.
| Instrument | Asset class | Typical spread | Unit |
|---|---|---|---|
| EUR/USD | Forex CFD | 2 | pips |
| GBP/USD | Forex CFD | 2.4 | pips |
| USD/JPY | Forex CFD | 2.5 | pips |
| US 100 (Nasdaq) | Index CFD | 2.9 | points |
| US 500 (S&P 500) | Index CFD | 0.8 | points |
| XAU/USD (Gold) | Commodity CFD | 0.55 | $ / oz |
| US Crude Oil | Commodity CFD | 0.06 | $ / bbl |
| BTC/USD | Crypto CFD | 40 | $ |
Spreads shown are typical, not guaranteed, and widen during volatile sessions or outside main market hours. Figures reflect the broker's standard retail account.
Markets
XM covers forex, indices, commodities, metals, energies and crypto as CFDs, plus real shares.
Forex CFD
Index CFD
Commodity CFD
Metals, energies, softs
Single-Stock CFD
Crypto CFD
Available ✓ · Weekend trading ✓
Real ownership: Stocks / ETFs
Stocks
XM offers CFDs on forex, stock indices, commodities, precious metals, energies, cryptocurrencies, thematic indices, ETFs and Turbo stocks, with stock CFDs available only on MT5. A separate Shares account with a $10,000 minimum deposit lets clients own real shares, which suits traders who want both CFDs and direct equity ownership.
Platforms
Trading runs on MT4, MT5, and the native mobile XM application interfaces.
MetaTrader 4, MetaTrader 5, and the proprietary XM App provide industry-standard execution interfaces. That suite satisfies algorithmic EA users, but traders seeking direct TradingView integration must trade externally.
Execution
XM fills orders as a market maker, without charging a commission.
XM publishes its execution policy, which is standard for a market maker. That model enables execution without third-party commissions, though slippage risk during news events remains with the client.
Leverage
XM offers leverage of up to 1:1000 on accounts held with its offshore entity.
Offering leverage up to 1:1000 for offshore accounts exceeds standard Tier-1 retail limits of 1:30. That lets you open large positions with little margin, but at 1:1000 a 0.1% move against you wipes out your entire margin on that trade.
Account types
Standard and Ultra Low accounts start at $5, while the Shares account requires $10,000.
| Account | Min deposit | Commission | Swap | Spread | Demo | Islamic |
|---|---|---|---|---|---|---|
| Standard | $5 | Spread-only | Swaps apply | From 1.6 pips · Variable | Yes | Yes |
| Ultra Low | $5 | Spread-only | Swap-free on selected instruments | From 0.8 pips · Variable | Yes | Yes |
| Shares | $10000 | Not stated | No swaps | Not stated | No | Yes |
The Standard and Ultra Low accounts both require a $5 minimum deposit and offer a Micro option, with Ultra Low trading at lower spreads and swap-free on selected instruments. The Shares account requires $10,000 and is used to own real shares rather than trade CFDs. Unlike the Standard and Ultra Low accounts, it charges a commission and uses no leverage (1:1).
Funding
XM doesn't charge its own fees on deposits or withdrawals across its payment methods.
XM doesn't charge fees on card or e-wallet deposits, which matters if you're moving small amounts. Your bank or an intermediary bank may still charge for wire transfers.
The "Under 24 hours" figure is XM's stated processing time; bank transfers and card withdrawals usually take 2 to 5 business days to reach your account.
Support
Customer service operates 24/7 across multiple languages via live chat and email.
Support runs 24/7 by live chat and phone, with email also available, and XM says its team covers more than 30 languages. That extended availability helps weekend crypto and global timezone traders receive rapid assistance.
Availability
XM serves international traders globally while restricting US and Canadian residents.
XM doesn't accept clients from the US, Canada, Israel or Iran. That rules out North American residents, while most other international traders are signed up on XM's offshore terms.
Verdict
XM delivers an accessible entry point for international retail traders through its low $5 deposit barrier and full MetaTrader suite. Its category scores average 4.2, but its overall Laverlane Score is capped at 2.5 because international clients contract with XM Global Limited, regulated only by the FSC in Belize, without a statutory compensation scheme and with leverage of up to 1:1000. Its client agreement also lets XM close all of a client's accounts and cancel all profits if it judges swap-free trading to be improper, so read those terms carefully before funding an account.
XM suits you if you'd rather have high leverage and a $5 entry point than the compensation cover you'd get from a Tier-1 regulated entity.
Multi-asset CFD traders looking for low-deposit MetaTrader access without strict Tier-1 leverage limits.
FAQ
XM sets a $5 minimum deposit for its Standard and Ultra Low accounts. Both accounts offer a Micro option, and the minimum deposit or withdrawal can vary by payment method. The Shares account, which lets clients own real stocks, requires a $10,000 minimum deposit.
XM archives a trading account automatically once its balance has stayed at zero for more than 90 days, and an archived account cannot be reopened. Accounts with no activity for over 90 days but a positive balance are treated as dormant and charged $10 a month, so withdrawing your funds first avoids that fee. You can contact XM support by live chat or email for help with your account.
XM Global Limited, the entity that serves international clients, is based at Suite 101, 63 Eve Street, Belize City, Belize. XM describes itself as a global brand with offices that include Belize and Mauritius. Other group companies are regulated in Cyprus by CySEC, in Dubai by the DFSA and in Seychelles by the FSA.
XM is the brand of XM Group, a privately held group of regulated companies. They include Trading Point of Financial Instruments Ltd in Cyprus, Trading Point MENA Limited in Dubai, XM (SC) Limited in Seychelles and XM Global Limited in Belize. The group says it has more than 15 years of experience in the industry.
XM says it processes withdrawal requests within 24 hours through its automated back-office system. E-wallet withdrawals usually arrive instantly or on the same day. Bank transfers and card withdrawals take 2 to 5 business days to reach your account.
Alternatives
Eightcap offers CFDs on 850+ markets through TradingView, MetaTrader 4, MetaTrader 5 and TradeLocker, with a Raw account that starts from 0.0 pips. Clients outside the regulated regions contract with Eightcap Global Limited in The Bahamas, which carries no statutory compensation scheme.
Octa offers swap-free forex and CFD trading on OctaTrader, MetaTrader 4 and MetaTrader 5, with no trading commission and a $25 minimum deposit. Accounts on octabroker.com are with Versustrategy Inc, registered in Saint Lucia, and the legal documents page lists no financial regulator.
JustMarkets offers leverage of up to 1:3000, swap-free trading and MT4, MT5 and its own app, but international clients contract with an offshore Seychelles entity without a statutory compensation scheme.
FXCM offers forex and CFD trading on Trading Station, MetaTrader 4 (MT4) and TradingView. Accounts on the international website are with Stratos Global LLC, an offshore entity in St Vincent and the Grenadines that sits outside the group’s regulated companies.
ThinkMarkets offers ThinkTrader, TradingView, MT4 and MT5 with 4,000+ instruments and leverage of up to 1:500 on Standard and ThinkZero accounts. International clients contract with a Seychelles-licensed entity.
IronFX operates as a retail CFD broker providing high leverage up to 1:1000 on MetaTrader 4, but international clients contract through an offshore entity without statutory compensation protection.
CFI Financial offers MT5, TradingView and its own app with no minimum deposit and leverage of up to 1:500. International clients trade with CFI International Ltd, licensed in Mauritius.
EC Markets offers MT4, MT5 and its own app with a $10 minimum deposit on STD and ECN accounts and leverage of up to 1:1000. International clients trade with the Mauritius-licensed entity.
General CFD risk warning
CFDs are complex leveraged products and carry a high risk of rapid losses. They do not give you ownership of the underlying asset. Depending on your jurisdiction, broker entity and client classification, protections such as leverage limits and negative-balance protection may differ or may not apply. Where negative-balance protection is not provided, losses may exceed the funds you deposit. You should consider whether you understand how CFDs work and whether you can afford the high risk of losing your money.
Disclaimer
This page is provided for general information only. Nothing on this page constitutes investment, tax or trading advice, or a recommendation to open an account or trade with a particular broker. Laverlane does not provide personalised investment advice. We are not a broker or financial institution, we do not arrange or execute trades, and we do not hold client funds.
Broker availability, spreads, fees, leverage, products and legal protections, including compensation schemes and negative-balance protection, vary by the broker’s legal entity, your country of residence and your client classification, and may change over time. Where a broker is required to publish its retail CFD loss rate, that figure is shown on its review page. Spreads shown are typical figures as at our verification date; they are not guaranteed and may widen, particularly during volatile market conditions.
Laverlane Scores reflect the information available at our most recent review. They are editorial assessments, not guarantees of a broker’s financial strength, reliability or future performance. Where we report a regulator warning or enforcement notice, it reflects the official public information available at the time of our review.
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