XM Forex Review 2026

Our Ratings

4.2

out of 5

Safety & Regulation

4.5

Fees & Costs

4.1

Markets & Products

3.8

Platforms & Execution

4.1

Deposit & Withdrawal

4.6

Trading Tools & Research

3.8

Account Opening

4.8

Customer Service

4.3

Education

4.2

Key Facts

Regulation

CySEC, FSCA, FSA Seychelles, FSC Belize, FSC Mauritius

Broker Type

Market Maker

Min. Deposit

Platforms

XM App, MetaTrader 4 (MT4), MetaTrader 5 (MT5)

Negative Balance Protection

Yes

Max Leverage

1:30 (CySEC retail), 1:1000 (XM Global Belize entity)

Demo Account

Yes

Spreads From

0.8 pips

VISIT XM Compare all broker reviews

76% of retail FX and CFD accounts lose money.

XM - At a Glance

Company & Overview

Established: 2009
Headquarters: 12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus
International Offices: United Arab Emirates, Greece, Belize, Cyprus, South Africa, Uruguay
Publicly Traded: No
Broker Type: Market Maker
Regulation: CySEC (Cyprus), FSCA (South Africa), FSA Seychelles (Seychelles), FSC Belize (Belize), FSC Mauritius (Mauritius)
Segregated Client Funds: Yes
Negative Balance Protection: Yes
Offered on every account type and licence. XM can refuse it if it decides you were hedging between accounts, arbitraging, or trading without real market interest.
Banking License: No
Languages: English, French, Spanish, Russian, Polish, Thai, Arabic, German, Portuguese, Italian, Greek, Vietnamese, Romanian, Simplified Chinese, Traditional Chinese, Bahasa Malay, Bahasa Indonesia, Korean, Bulgarian, Urdu, Hindi, Czech, Slovakian, Nepali, Mongolian, Cebuano, Serbian, Tagalog
Customer Support: Live Chat, Email, Phone
Customer Support Hours: 24/5

Account Types

Demo Account: Yes
Swap Free Account: Yes
Joint Account: No
Corporate Account: No
Managed Account: No
PAMM / MAM Trading: No
Social / Copy Trading: Yes

Account Conditions

Minimum Deposit: $5
Payment Methods: Bank Transfer, Local Bank Transfer, Debit Cards, Credit Cards, Skrill, Neteller, Apple Pay, Google Pay, Perfect Money
Account Currencies: USD, EUR, GBP, CHF, JPY, AUD, HUF, PLN, ZAR, RUB, SGD
Maximum Leverage: 1:30 (CySEC retail), 1:1000 (XM Global Belize entity)
Bonuses: Varies
Deposit and trading bonuses are prohibited for retail clients under CySEC rules, so they are not available on those entities. Offered through the Belize, Mauritius and Seychelles entities where local rules permit.
Contests: Varies
Trading competitions are restricted for retail clients under CySEC rules. Available through the Belize, Mauritius and Seychelles entities where local rules permit.

Trading Conditions

Markets & Products: Forex, CFDs
Currency Pairs: 55 FX pairs
Minimum Lot Size: 0.01
Maximum Lot Size: 100
Decimal Pricing: 5 decimals
Order Types: Market execution with buy limit, sell limit, buy stop, sell stop, stop loss, take profit and trailing stop through MetaTrader 4 and 5. MT5 adds buy stop limit and sell stop limit.
Execution Type: Market maker
Margin Call Level: 50%
Stop Out Level: 50% (CySEC entity), 20% (XM Global Belize entity)
Hedging: Yes
Scalping: Yes

Fees & Costs

Spread Type: Variable
Spread From: 0.8 pips (Standard Account), 0.0 pips (Ultra Low Account), 0.0 pips (Zero Accounts)
Commission: Standard Account: No commission, Ultra Low Account: No commission, Zero Accounts: $3.50 commission per lot per side
Overnight / Swap Fees: Yes
Deposit Fee: No
Withdrawal Fee: No
XM charges no deposit or withdrawal fees and covers bank charges on international wires of USD 200 or equivalent and above.
Currency Conversion Fee: No
Account Maintenance Fee: No
Inactivity Fee: Yes
USD 5 a month after just 90 days without trading, depositing or withdrawing. Capped at whatever is left. Empty accounts are archived instead.
Custody Fee: No

Platforms & Tools

Trading Platforms: XM App, MetaTrader 4 (MT4), MetaTrader 5 (MT5)
Mobile App: Yes
API Access: Yes
VPS Hosting: Yes
Automated Trading: Yes

How XM's costs compare

Spread from (major pairs)0.8 pips

Catalogue median: 0.8 pips across 49 brokers · lower is cheaper

Minimum deposit$5

Catalogue median: $10 across 49 brokers · lower is more accessible

The marker is the median of every active broker we rate, computed from the same structured data as the reviews. Headline from-spreads are the broker's advertised best case; your account type and instrument change them.