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.
What's on the menu
XM has been serving since 2009, with the kitchen based in Limassol, Cyprus. The firm is privately held. The order book runs deep: 1,400 CFD instruments spanning forex, indices, commodities and crypto. Everything here is a contract for difference, so you are trading the price move, not owning the underlying dish.
MetaTrader comes plated on every account type. There is no copy-trading option here.
| 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 |
Kitchen inspection: 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 |
Want to inspect the kitchen yourself? Pull up www.cysec.gov.cy and look up the CySEC licence. The listing lays out the entity name, its authorisation status and the full list of what it is cleared to do. A minute, tops.
Ready to open an account?
XM - CySEC regulated, min deposit $5, 1,400+ instruments.
Ingredient costs: XM spreads
Here is what the raw ingredients cost on a standard XM account. Spreads breathe with the market and with your account tier; step up to an ECN or raw-spread table and the spread shrinks, but a per-trade commission joins the bill.
| 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 |
That EUR/USD figure of 1.6 (std) / 0.1 (ultra-low) pips carries a bit more markup than the ECN-first kitchens, though it is normal fare for a table with no per-trade commission.
The bill: XM withdrawal fee and timing
Cost to take money out: None. XM does not charge withdrawal fees on any method.
How long it takes: 1 to 5 business days. E-wallets are usually processed same day. Bank wire transfers take 3 to 5 days.
No cash leaves the till until your identity checks out. If your proof of ID and address are not yet filed and cleared, the payout waits; once you are fully verified, cash-outs follow the timings shown above.
The cover charge by entity
The opening deposit at XM depends on which entity seats your country. Offshore branches tend to set a smaller cover charge, but you dine with a thinner layer of 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 kitchens hold real licences, so neither is a bad table. Pull up a chair at XM if you value MetaTrader and running algorithms. Exness plates up better for anyone who leans on leaner spreads.
The licences, line by line
| 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 |
Under ESMA house rules, retail traders in the EU and UK are served leverage no higher than 1:30 on the major forex pairs. The offshore entity will pour up to 1:1000, but that comes with a lighter seal of protection.
What tastes good, what leaves a bad aftertaste
Cooked well
- CySEC and ASIC regulated
- MetaTrader 4 and 5 available
- $5 minimum deposit
- 1,400+ instruments
- No requotes policy
- Strong education materials
Sent back
- Not available in UK or Japan
- No real stock ownership
- Copy trading not built-in
- Inactivity fee $15 after 3 months
Compare XM before you commit
4.2/5 rating - CySEC regulated - min deposit $5
The verdict
Nothing on the plate here is fake: XM is a genuine, regulated broker, and CySEC licence 120/10 checks out on the public register. The table is set best for traders who want MetaTrader served on a regulated platform. We rate it 4.2 out of 5.
Other tables worth a look
If XM is not quite to your taste, these regulated kitchens 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. The kitchen holds CySEC licence 120/10, and you can confirm it for yourself on the official register.
What is the XM minimum deposit?
The cover charge is $5 at the main regulated entity. Offshore branches may plate it differently, so check the entity table above for the full spread.
What is the XM EUR/USD spread?
On a standard XM account the EUR/USD ingredient runs about 1.6 (std) / 0.1 (ultra-low) pips. It moves with the market; an ECN or raw table trims the spread in exchange for a per-trade commission.
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. Both MT4 and MT5 are on the menu across every account type, so automated strategies, custom indicators and expert advisors are all on the table.