XM

Forex and CFD Broker· Founded 2009 .Limassol, Cyprus

Reviewed 2026-09-02

8.7

Overall score

TraderZone Verdict

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

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

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

MT4
MT5
XM App

Availability

Desktop Windows
Desktop Mac
Web
Android
Ios

Features

Expert Advisors
Automated trading
XM Copy Trading
Trading Central integration
Economic calendar

Category Scores

Regulation Safety8.9/10

Trading Costs8.5/10

Platforms Technology8.2/10

Asset Coverage9.1/10

Trading Conditions8.3/10

Tools Resources9.1/10

Customer Support8.9/10

User Experience8.2/10

Account Opening8.8/10

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

ForexGoldIndicesCommoditiesSharesCryptocurrency CFDs

Available Regions

EuropeAsia-PacificMiddle EastAfricaLatin America

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.

Cyprus Securities and Exchange Commission (CySEC)Australian Securities and Investments Commission (ASIC)Dubai Financial Services Authority (DFSA)Financial Sector Conduct Authority (FSCA)Capital Markets Authority Kenya (CMA)Financial Services Commission Belize (FSC)Seychelles Financial Services Authority (FSA)Financial Services Commission Mauritius (FSC)

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.

Minimum Deposit: $5

Commission Model: Standard and Micro accounts are commission-free with spreads from around 1.6 pips; Ultra Low accounts offer tighter spreads from around 0.6 pips; Zero accounts use raw spreads from 0.0 pips plus a per-lot commission

Overnight Fee: Swap charges apply to positions held overnight; swap-free Islamic accounts are available on Ultra Low, Micro and Zero accounts

Inactivity Fee: $15 after 12 months of inactivity, then $5 per month thereafter

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.

1,400+ global assets

Forex
Commodities
Indices
Stocks
Etfs
Cryptocurrencies
Bonds
Options
Futures

Trading Conditions

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.

Forex tradersGold tradersScalpersEA and algorithmic tradersActive traders

Tools & Resources

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.

Trading CentralEconomic calendarTrading signalsTrading calculatorsEducational webinars

Customer Support

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.

Live chatPhoneEmail

Account Opening

1Online registration
2Identity verification
3Document submission
4Account approval
5Funding

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.

Demo Account

Mobile Trading

Trader Compatibility

Forex Trader9.0/10

Gold Trader9.0/10

Scalper8.5/10

Ea Algorithmic Trader8.5/10

Beginner Trader9.2/10

Crypto Trader8.0/10

Multi Asset Cfd Trader8.8/10

Best For

Forex tradersGold tradersBeginner tradersMetaTrader usersEA and algorithmic traders

Not Recommended For

Traders specifically looking for cTraderTraders requiring the same regulatory protections globallyUsers 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.

Rating8.7/10