XM
Forex and CFD BrokerFounded 2009Limassol, Cyprus
Reviewed September 2, 2026
XM is one of the stronger all-round choices for traders who want a well-established broker, broad market coverage, competitive trading conditions and extensive educational support. Forex and Gold traders are particularly well served, while Expert Advisors and algorithmic strategies are supported through MetaTrader.
Strengths & Limitations
Strengths
- 1,400+ global trading instruments
- Long-established international broker
- Multi-entity regulatory coverage across 8 jurisdictions
- MT4 and MT5 support with Expert Advisor compatibility
- Strong educational resources and market-analysis tools
Limitations
- Regulatory protection varies by entity and jurisdiction
- Platform selection is narrower than brokers offering cTrader and other alternatives
- Leverage can vary significantly depending on jurisdiction
- Advanced traders may want a more extensive professional platform ecosystem
Category Scores
Broker Overview
XM is a well-established, multi-regulated CFD broker offering access to more than 1,400 global trading instruments across Forex, stocks, indices, commodities and cryptocurrencies. It supports MetaTrader 4, MetaTrader 5 and its proprietary XM App, backed by extensive educational resources and multilingual customer support.
Markets
Available Regions
Regulation & Safety
XM operates through multiple regulated entities to serve clients across different jurisdictions, ranging from top-tier CySEC and ASIC licenses to standard-tier and offshore registrations. Regulatory protections, leverage and investor compensation eligibility differ substantially depending on which entity a client is onboarded under.
Regulators
- Name
- Cyprus Securities and Exchange Commission (CySEC)
- Status
- Yes
- Tier
- standard
- Name
- Australian Securities and Investments Commission (ASIC)
- Status
- Yes
- Tier
- top
- Name
- Dubai Financial Services Authority (DFSA)
- Status
- Yes
- Tier
- standard
- Name
- Financial Sector Conduct Authority (FSCA)
- Status
- Yes
- Tier
- standard
- Name
- Capital Markets Authority Kenya (CMA)
- Status
- Yes
- Tier
- standard
- Name
- Financial Services Commission Belize (FSC)
- Status
- Yes
- Tier
- offshore
- Name
- Seychelles Financial Services Authority (FSA)
- Status
- Yes
- Tier
- offshore
- Name
- Financial Services Commission Mauritius (FSC)
- Status
- Yes
- Tier
- offshore
Trading Costs
XM offers several account structures for different pricing preferences: Standard and Micro accounts use spread-based pricing, Ultra Low accounts provide tighter spreads, and Zero accounts use raw spreads plus a commission. Actual costs depend on the client's jurisdiction and account type.
Platforms & Technology
XM provides MetaTrader 4 and MetaTrader 5 with advanced charting, indicators and Expert Advisor support, alongside its proprietary XM App for mobile trading and WebTrader for browser-based access. It does not offer cTrader or TradingView integration.
Platforms
Features
- Expert Advisors
- Automated trading
- XM Copy Trading
- Trading Central integration
- Economic calendar
Availability
Asset Coverage
XM offers more than 1,400 global assets spanning Forex, stocks, indices, commodities and cryptocurrency CFDs, with the exact product range varying by jurisdiction. It does not offer bonds, options or futures.
Available assets
Trading Conditions & Tools
Trading conditions
- Overview
- XM provides flexible trading conditions through several account types supporting both discretionary and automated trading, with fast execution and no requotes or trade rejections advertised. Leverage, account types and available instruments vary according to jurisdiction.
- Execution
- Suitable For
- Forex tradersGold tradersScalpersEA and algorithmic tradersActive traders
Tools & resources
- Overview
- Tools and educational resources are one of XM's strongest areas, combining market analysis, an economic calendar, Trading Central resources, trading signals and sentiment data with extensive educational webinars and learning material.
- Tools
- Trading CentralEconomic calendarTrading signalsTrading calculatorsEducational webinars
Support & Account Opening
Customer support
- Overview
- XM places significant emphasis on customer support, advertising 24/5 multilingual assistance across live chat, phone and email, with availability and specific channels varying somewhat by region.
- Channels
- Live chatPhoneEmail
Account opening
- Overview
- XM offers a fully digital, straightforward account-opening process, with the combination of desktop, web and mobile access giving traders flexibility once verified.
- Process
- Online registrationIdentity verificationDocument submissionAccount approvalFunding
User Experience
XM provides a familiar, relatively straightforward user experience built around MetaTrader and its proprietary mobile app, with extensive educational material making the platform easier for beginners to navigate.
Trader Compatibility
Who It's For
Best for
- Forex traders
- Gold traders
- Beginner traders
- MetaTrader users
- EA and algorithmic traders
Not recommended for
- Traders specifically looking for cTrader
- Traders requiring the same regulatory protections globally
- Users seeking direct ownership of underlying assets rather than CFDs
Final Review
XM remains one of the strongest all-round choices for traders who value a combination of market coverage, established infrastructure, education and customer support. Its main limitation is platform flexibility and the fact that regulatory protection and leverage vary according to the entity serving the client.
Trading carries risk. Review the broker’s current terms directly before opening an account. This page is informational and not financial advice.