XM Review 2026
The full XM write-up for New Zealand traders: the kitchen inspection, the ingredient costs, the bill, and our straight verdict.
Regulation in New Zealand
| Regulator | ASIC ASIC, Australian Securities and Investments Commission (ASIC) |
| Licence Number | 443670 |
| Regulated Entity | Trading Point of Financial Instruments Pty Ltd |
| Max Leverage (Forex) | 1:30 |
| Minimum Deposit | $5 |
| EUR/USD Spread | From 0.6 pips |
| Instruments | 1,400+ |
| Platforms | MT4, MT5, XM App |
| Copy Trading | ✗ |
| Real Stocks | ✗ |
| Inactivity fee | Inactivity fee: USD15/month after 3 months |
| Verify on ASIC register → | 443670 |
Verdict
Cooks under ASIC (licence 443670). Cover charge $5. In New Zealand, forex leverage is capped at 1:30.
About XM
XM opened its doors in 2009 out of a kitchen in Limassol, Cyprus. Its menu runs to 1,400 tradeable instruments, forex pairs alongside CFDs on stocks, indices and commodities. It holds licences across several jurisdictions, with the head licence carried by Trading Point of Financial Instruments Pty Ltd under ASIC.
In New Zealand, XM serves as Trading Point of Financial Instruments Pty Ltd, cleared by ASIC under licence number 443670. Under ASIC house rules, New Zealand traders are poured no more than 1:30 leverage on forex pairs.
Trading Platforms
Pros
- ASIC regulated, licence 443670
- 1,400+ instruments to trade
- Negative balance protection in New Zealand
- Platforms: MT4, MT5, XM App
- Founded in 2009 (17 years operating)
- Licences in 4 jurisdictions
Cons
- Inactivity fee: USD15/month after 3 months
- 75.21% of retail clients burn their fingers
- CFDs only, you trade the price, you never own the dish
- No real stock ownership
Key Facts, XM
- Offers 10 account types including Ultra-Low and Shares accounts
- One of the few brokers providing genuine $30 no-deposit bonus to new accounts
- Forex competitions run monthly with cash prize pools over $500,000
Known Limitations
- CySEC entity serves EU clients with 1:30 max leverage; high leverage only available via offshore entity
- Customer support quality reported inconsistent across regions
- No Shares CFDs in all jurisdictions
Frequently Asked Questions
Is XM regulated?
Yes. XM is authorised by ASIC, issued to the entity Trading Point of Financial Instruments Pty Ltd, an authorisation you can look up for yourself on the official ASIC public register.
What is the minimum deposit for XM in New Zealand?
The cover charge is $5, the smallest amount New Zealand traders need to open a live account with XM under ASIC rules.
What leverage does XM offer in New Zealand?
In New Zealand, ASIC rules cap XM at 1:30 on forex pairs. A larger pour is sometimes available through offshore-regulated entities, with thinner protection to match.
Is XM safe to trade with?
The kitchen passes inspection: XM cooks under ASIC. A tier-1 regulator insists on segregated client money, negative balance protection and independent audits, while lighter offshore regimes offer weaker cover and often no compensation scheme. That does not make trading risk-free, so check which entity holds your account and what protections actually apply before you deposit.
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