Quick verdict: is XM legit?
Yes, with one caveat. XM (Trading Point) has operated since 2009, holds CySEC license 120/10 in Europe and has 6 other licensed entities. However, most clients outside the EU, UK and Australia open accounts with XM Global Limited, licensed by FSC Belize (8557558), a lower-tier regulator with no EU-style compensation fund. XM suits beginners thanks to the $5 minimum deposit and no deposit/withdrawal fees; traders who need raw spreads should compare further.
- Strengths: low starting capital, no fees on main deposit/withdrawal methods, negative balance protection, 24/7 multilingual support, extensive education.
- Watch out for: market-maker execution on Standard/Micro, spreads from 1.6 pips (Standard), an inactivity fee after 90 days, bonuses with conditions.
Regulation and safety of funds
The XM brand is made up of several companies, each supervised by a different regulator. The entity you sign with determines how your money is protected, so check the company name in your account confirmation email.
| Entity | Regulator | License no. | Tier |
|---|---|---|---|
| Trading Point of Financial Instruments Ltd | CySEC (Cyprus) | 120/10 | High |
| Trading Point MENA Limited | DFSA (Dubai) | F003484 | Medium |
| XM ZA (Pty) Ltd | FSCA (South Africa) | FSP 49976 | Medium |
| Trading Point of Financial Instruments Ltd (BVI) | FSC BVI | 2154873 | Medium |
| XM Global Limited | FSC Belize | 8557558 | Low |
| XM International MU Limited | FSC Mauritius | GB23202700 | Low |
| XM (SC) Limited | FSA Seychelles | SD190 | Low |
Sources: FXStreet (updated Oct 7, 2026), Brokeradar (Sep 3, 2026). Verify each license number on the regulator's public register.
Protection mechanisms
- Segregated client funds kept apart from company capital.
- Negative balance protection on eligible retail accounts: you cannot lose more than you deposit.
- ICF compensation up to €20,000 applies only to clients of the CySEC entity, not to XM Global (Belize) clients.
XM account types
Beginners should start with Micro (1 lot = 1,000 units, small risk). If you trade often, choose Ultra Low: spreads from 0.8 pips with no commission.
| Account | Min. deposit | Spread | Commission | Lot size | Best for |
|---|---|---|---|---|---|
| Micro | 5 USD | From 1.6 pips | None | 1 lot = 1,000 | Beginners, small capital |
| Standard | 5 USD | From 1.6 pips | None | 1 lot = 100,000 | Everyday trading |
| Ultra Low (Micro/Standard) | 5 USD | From 0.8 pips | None | 1,000 / 100,000 | Frequent traders |
| Zero (selected regions) | 5 USD | From 0.0 pips | $7/lot round turn | 100,000 | Scalping, EAs |
| Shares | 10,000 USD | Market price | Per share | 1 share | Real shares, no leverage |
Islamic (swap-free) accounts are available subject to approval, and a free demo account is available for practice.
Fees and real trading costs
On commission-free accounts the trading cost is built into the spread. Buying 1 Standard lot of EUR/USD at a 1.6-pip spread costs about 16 USD; on Ultra Low (0.8 pips) it is about 8 USD. Check it with the pip calculator below.
| Fee | Amount | Notes |
|---|---|---|
| Deposit fee | 0 USD | Cards, e-wallets, bank transfer. Wire fees above 200 USD are reimbursed by XM. |
| Withdrawal fee | 0 USD | International wires under 200 USD may incur intermediary bank fees. |
| Overnight swap | Varies | See MT4/MT5. Islamic accounts are swap-free. |
| Inactivity fee | Monthly after 90 days | Not charged at zero balance. Sources cite 5–10 USD/month; check the exact amount on xm.com. |
| Commission | 0 / 7 USD | Only the Zero account charges $7/lot round turn. |
XM leverage
At the international entity, maximum leverage is 1:1000 on forex and gold, 1:400 on silver and 1:500 on indices and crypto, decreasing as your balance grows. EU (CySEC) and Australian (ASIC) clients are capped at 1:30.
Platforms and markets
- MetaTrader 4 and MetaTrader 5 on desktop, web and mobile, with EA and custom indicator support.
- XM App and WebTrader with TradingView charts for account management, funding and trading.
- Free VPS when balance and volume conditions are met.
- Not available: cTrader.
Over 1,400 instruments: 50+ currency pairs, 1,200+ stock CFDs, 20+ indices, 15+ commodities (gold, oil), 50+ crypto CFDs and thematic indices.
XM deposit bonus 2026 (from October 1, 2026)
New clients get a 100% deposit bonus up to $100 during the first two weeks after registration, followed by a 50% bonus up to $200 that resets every 30 days. These two levels (Levels 0–1) have no trading volume requirement. Higher bonus limits (Levels 2–9) unlock step by step based on your monthly trading volume.
| Level | Bonus | When | Condition |
|---|---|---|---|
| Level 0–1 (new clients) | 100% of deposit, up to $100 | Within 2 weeks of registration | No volume requirement |
| Level 0–1 | 50% of deposit, up to $200 | Resets every 30 days | No volume requirement |
| Levels 2–9 | Additional bonus limits unlocked | After Levels 0–1 are claimed | Reach monthly trading volume milestones |
Bonus limits by trading volume (Levels 0–9)
Volume is the USD notional value traded (1M = 1 million USD). Reaching the "Total volume" in a month unlocks the matching bonus limit; Levels 1–9 add up to $5,000 in total.
| Level | Volume band | Total volume ($) | Volume required ($) | Bonus limit | % Bonus | Deposit to get bonus | Period |
|---|---|---|---|---|---|---|---|
| 0 | Brand-new clients | – | – | $100 | 100% | $100 | First 2 weeks after account opening |
| 1 | No conditions | – | – | $200 | 50% | $400 | Resets every 30 days |
| 2 | $1M–$3M | $1,000,000 | $1,000,000 | $200 | 50% | $400 | |
| 3 | $3M–$5M | $3,000,000 | $2,000,000 | $400 | 50% | $800 | |
| 4 | $5M–$8M | $5,000,000 | $2,000,000 | $400 | 20% | $2,000 | |
| 5 | $8M–$12M | $8,000,000 | $3,000,000 | $500 | 20% | $2,500 | |
| 6 | $12M–$16M | $12,000,000 | $4,000,000 | $700 | 20% | $3,500 | |
| 7 | $16M–$20M | $16,000,000 | $4,000,000 | $700 | 20% | $3,500 | |
| 8 | $20M–$25M | $20,000,000 | $4,000,000 | $700 | 20% | $3,500 | |
| 9 | $25M+ | $25,000,000 | $5,000,000 | $1,200 | 20% | $6,000 | |
| Total (Levels 1–9) | $5,000 | $22,600 | |||||
- Applies only to Standard, Micro and Master Standard accounts.
- Bonus limits reset at the start of each month; bonuses already received are not reset.
- Only one-way volume traded from deposited funds counts, and the 5-minute rule applies.
How volume is counted for Levels 2–9
- A new volume table opens every month and resets on the first day of the month (e.g. Oct 1, 2026).
- Bonus limits unlock as you reach each volume milestone.
- Only one-way volume of each trade counts.
- A 5-minute rule applies to volume counting (see XM's terms for details).
- Only new deposits count toward volume.
Eligible accounts
- Applies to Standard, Micro and Master Standard accounts.
- Ultra Low and Investor accounts do not count toward volume.
- Clients are enrolled in volume tracking automatically.
- Check your bonus limits in the Members Area or XM App → Rewards.
Claim the 100% deposit bonus on a new account
Open a Standard account and enter partner code WYTCW at sign-up.
XM pros and cons
Pros
- Only $5 minimum deposit
- No fees on main deposit/withdrawal methods
- Top-tier CySEC license within the group
- Negative balance protection and segregated funds
- 24/7 multilingual support and free webinars
- MT4/MT5 plus TradingView charts in WebTrader
Cons
- Most global clients use an offshore entity (FSC Belize)
- Market-maker execution on Standard/Micro
- Standard spreads from 1.6 pips, higher than ECN brokers
- Inactivity fee after 90 days
- Complex bonus terms
- No cTrader
Free trading calculators
Calculated for a Standard account, 1 lot = 100,000 units (gold: 100 oz). For a Micro account, divide the result by 100.
This is an estimate. Actual rebates depend on the active program and account type.
Pip: 0.0001 (JPY: 0.01; gold: 0.1). Results in USD, for reference only.
How to open an XM account (about 10 minutes)
- Sign up: enter your name, email and country, then choose Micro, Standard or Ultra Low. In the "Do you have a partner or referral code?" field, enter WYTCW to get support and access to our cashback program.
- Set up: choose MT4 or MT5, leverage (1:100–1:200 recommended) and USD as the base currency.
- Verify: upload your ID/passport and a proof of address (utility bill or bank statement under 6 months old).
- Deposit: from 5 USD using the methods shown in your Members Area.
- Practice on demo first: run your strategy on a demo account for 2–4 weeks before trading real money.
Ready to try XM?
Open a demo or a live account from 5 USD.
Want to become an XM partner (Sub-IB)?
Earn commissions by referring new traders to XM.
Who is XM for, and who should look elsewhere?
Good fit
- Beginners starting with small capital
- Traders who want local-language support and education
- MT4/MT5 and standard EA users
Consider alternatives
- Scalpers needing raw spreads where the Zero account is unavailable
- Traders who want a top-tier regulator (FCA, ASIC) outside Europe
- cTrader users
XM frequently asked questions
Is XM a legit broker?
What is the XM minimum deposit?
Can I withdraw XM bonus funds?
What is the maximum leverage at XM?
Does XM charge deposit or withdrawal fees?
Does XM charge swap or inactivity fees?
How much is the XM deposit bonus in 2026?
Which XM accounts count toward bonus volume?
Methodology and sources
Weighted score: Regulation & safety 30%, Fees 25%, Platforms 15%, Deposits/withdrawals 15%, Support & education 15%. Data is cross-checked against at least two sources and reviewed every quarter; where sources disagree, we say so in the article.
- FXStreet – XM Broker Review 2026 (updated Oct 7, 2026)
- Brokeradar – XM Review 2026 (Sep 3, 2026)
- Investingoal – XM account types (Oct 5, 2026)
- Official xm.com legal and entity pages.
Disclosure and risk warning
Affiliate disclosure: Tools-Hub Trader may earn a commission when you open an account through links on this page. Commissions never influence our scores and cost you nothing. We are not XM and do not represent XM.