MG
Maria G.
Spain · Sep 30, 2026
Perfect to start
Started with a micro account and the free webinars helped me a lot. Spreads on the standard account are a bit wide though.
Forex BrokerTop pick
XM Review 2026
Beginner-friendly broker with a $5 minimum deposit
Founded 2009 Limassol, Cyprus xm.com Reviewed October 2026
CySECASICDFSAFSC (BZ)FSCA
Min. deposit
$5
Max leverage
1:1,000
Spread from
0.6 pips
Platforms
MT4, MT5, Proprietary
Our score
4.5
Excellent
Traders rate it ★ 4.5 (2 reviews)
Visit BrokerCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 70% and 85% of retail investor acco…
Our verdict
XM is a great home for beginners thanks to its $5 minimum deposit, micro accounts and outstanding free education. Cost-conscious active traders should pick the Zero or Ultra Low account to keep spreads competitive.
Best for: Beginners & small accounts
XM at a glance
XM is a globally recognised broker serving millions of clients in 190+ countries. It offers a very low minimum deposit, micro accounts, frequent promotions and an extensive library of free webinars and educational content.
Rating breakdown
Weighted scores from our broker methodology
Trust & Regulation4.5
Fees & Spreads4.2
Platforms & Tools4.4
Research & Education4.9
Deposits & Withdrawals4.7
Customer Support4.6
Pros and cons
Pros
- Only $5 to get started, with micro accounts
- Huge free education and daily webinars
- Generous promotions for non-EU clients
- Fast withdrawals and broad payment options
Cons
- Standard account spreads are above average
- Bonuses not available under EU/AU entities
- No cTrader or TradingView integration
Key facts
- Founded
- 2009
- Headquarters
- Limassol, Cyprus
- Minimum deposit
- $5
- Maximum leverage
- 1:1,000
- Spreads from (EUR/USD)
- 0.6 pips
- Commission (raw / ECN account)
- $3.50 per side per lot (Zero account)
- Execution model
- Market Maker, STP
- Trading platforms
- MetaTrader 4, MetaTrader 5, Proprietary platform, Web Trader, Mobile App
- Markets
- Forex, Indices, Commodities, Metals, Energies, Stocks, Crypto
- Number of instruments
- 1,400+
- Regulators
- CySEC, ASIC, DFSA, FSC (BZ), FSCA
- Restricted countries
- USA, Canada, Israel, Iran
- Deposit methods
- Bank Transfer, Credit/Debit Card, Skrill, Neteller, Crypto, Local Bank Transfer, Apple Pay, Google Pay
- Withdrawal processing time
- Within 24 hours
- Support hours
- 24/5
- Website
- xm.com
Account types
| Account | Min. deposit | Spread | Commission | Leverage |
|---|---|---|---|---|
| Micro | $5 | From 1.0 pips | None | 1:1000 |
| Standard | $5 | From 1.0 pips | None | 1:1000 |
| Ultra Low | $5 | From 0.6 pips | None | 1:1000 |
| Zero | $5 | From 0.0 pips | $3.50 / side | 1:500 |
Is XM safe and regulated?
XM is authorised by 5 financial regulators: CySEC (Cyprus), ASIC (Australia), DFSA (UAE), FSC (BZ) (Belize) and FSCA (South Africa).
This includes tier-1 oversight from ASIC — among the strictest regulators in the world, with capital requirements, regular audits and client-money rules.
Client protections include segregated funds and negative balance protection.
Note that XM does not accept clients from USA, Canada, Israel and Iran.
CySEC
Cyprus Securities and Exchange Commission · Tier 2
ASIC
Australian Securities & Investments Commission · Tier 1
DFSA
Dubai Financial Services Authority · Tier 2
FSC (BZ)
Financial Services Commission · Tier 3
FSCA
Financial Sector Conduct Authority · Tier 2
CySEC 120/10ASIC AFSL 443670DFSA F003484FSC BZ 000261/27
Fees, spreads and commissions
Spreads at XM start from 0.6 pips on EUR/USD, while the typical spread on the standard account is around 1.6 pips.
Commission on raw or ECN-style accounts: $3.50 per side per lot (Zero account).
The minimum deposit is $5.
Funding fees: XM covers most transfer fees.
Trading platforms and markets
XM supports MetaTrader 4, MetaTrader 5, Proprietary platform, Web Trader and Mobile App.
Advanced traders benefit from copy trading, expert advisors and algorithmic trading and free vps.
You can trade 1,400+ instruments across forex, indices, commodities, metals, energies, stocks and crypto.
Execution model: Market Maker and STP.
Deposits and withdrawals
Supported funding methods include Bank Transfer, Credit/Debit Card, Skrill, Neteller, Crypto, Local Bank Transfer, Apple Pay and Google Pay.
Withdrawal processing time: Within 24 hours.
Accounts can be opened in USD, EUR, GBP, JPY, CHF, AUD, SGD and ZAR.
Customer support
Customer support is available 24/5 via live chat, email and phone.
Support languages include English, Arabic, Chinese, Spanish, Portuguese, Indonesian, Thai and and 20+ more.
XM promotions
XMForex Broker
No-Deposit Bonus
$30
$30 No-Deposit Trading Bonus
Open a new real account and receive a $30 trading bonus without making a deposit. Profits can be withdrawn after meeting the trading conditions.
Ongoing offerClaim offer
T&Cs: New clients of the international entity only. Not available in the EU, UK or Australia. Trading conditions apply.
XMForex Broker
Deposit Bonus
Up to $5,000
50% + 20% Deposit Bonus up to $5,000
Get a 50% bonus on your first deposit up to $500 and a 20% bonus on further deposits up to $4,500.
Ongoing offerClaim offer
T&Cs: Bonus credit is not withdrawable. Available to eligible non-EU clients.
Trader reviews
4.5
2 reviews
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4
1
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0
2
0
1
0
JO
John O.
Nigeria · Sep 11, 2026
Fast deposits and withdrawals
Local deposit options work well and withdrawals are processed within hours.
Write a review
Have you traded with XM? Help other traders by sharing an honest review.
XM FAQ
Is XM regulated?
Yes. XM is regulated by CySEC, ASIC, DFSA, FSC (BZ) and FSCA.
What is the minimum deposit at XM?
The minimum deposit at XM is $5.
Which trading platforms does XM offer?
XM offers MetaTrader 4, MetaTrader 5, Proprietary platform, Web Trader and Mobile App.
Does XM offer Islamic (swap-free) accounts?
Yes, XM offers swap-free Islamic accounts on request.
How long do withdrawals take at XM?
Withdrawals at XM are typically processed within 24 hours.
What is the maximum leverage at XM?
Maximum leverage is 1:1,000, depending on the entity, account type and your location. Retail clients in the UK, EU and Australia are usually capped at 1:30.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 70% and 85% of retail investor accounts lose money when trading CFDs. Consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.