XM — costs, regulation & account details

Overview

Legal / official name

Trading Point of Financial Instruments Ltd (Cyprus, group flagship); most international clients contract with XM Global Limited (Belize)

Parent company

Trading Point Holdings Ltd (privately held; owns the XM and trading.com brands)

Founded

2009 (Trading Point of Financial Instruments Ltd, Cyprus)

Headquarters

12 Richard & Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, Cyprus

Publicly listed

No — privately held

Accepts customers from

~190 countries worldwide via XM Global Limited (Belize); EU/EEA via CySEC entity; Australia via ASIC entity; MENA via DFSA entity; South Africa via FSCA entity. EXCLUDED: United States, Canada, Israel, Iran and other sanctioned countries (per xm.com footer). UK residents are accepted but are onboarded to a non-UK entity (Belize or CySEC) — the group's UK FCA entity was moved to the trading.com brand, so UK clients get no FSCS protection under the XM brand.

Regulation & entities

Brokers operate multiple legal entities; the protections and leverage you get depend on which one holds your account.

Accounts & pricing

Professional client account

Professional-account data is being compiled for this broker.

Costs

Deposit fees

None charged by XM on standard methods (cards, e-wallets); XM states it covers deposit fees; third-party/bank fees possible on small wires

Withdrawal fees

XM charges no internal withdrawal fees on e-wallets/cards; bank-wire withdrawals under $200 incur a fee (intermediary/bank charges passed on; XM covers wire fees at/above $200). Third-party payment-processor fees can still apply. Exact under-$200 wire fee amount not published — not verified

Inactivity fee

$5/month after 90 consecutive days of no activity (trade, deposit, withdrawal, transfer or new account registration), charged until activity resumes or balance reaches zero (per XM's own dormancy FAQ; one outlier source claims a $15 one-off + $10/month — majority + official FAQ say $5/month)

Currency conversion

Undisclosed — XM publishes no conversion markup schedule; conversion applies when deposit/withdrawal currency differs from account base currency; multiple base currencies offered to avoid it

Swap-free available

Yes — Islamic/swap-free accounts for eligible countries at no extra cost; Ultra accounts promoted with zero/reduced swaps in some regions (e.g. XM ZA 'Zero Swaps on All XM Ultra Accounts')

Swap notes

Standard overnight swaps apply on Standard/Micro; XM markets 'lower swap fees' on Ultra Low; exact swap rates per instrument not verified (visible in MT4/MT5 symbol specs)

Platforms & execution

MetaTrader 4

Yes — desktop, mobile, WebTrader (primary platform; EAs supported)

MetaTrader 5

Yes — desktop, mobile, WebTrader

cTrader

No

TradingView

Yes — integration added recently (reported by ForexBrokers.com May 2026 and daytrading.com 2026); verify availability per entity

Proprietary

XM App (proprietary mobile/web app with copy trading and an AI assistant rolled out 2025); not a full standalone desktop platform

API access

None published — no retail REST/FIX API; automation only via MT4/MT5 Expert Advisors

Execution model

Claimed: 'market execution' with no requotes/no rejections. Assessed: dealing-on-own-account market maker (its CySEC permissions include dealing on own account); not an ECN despite raw-spread Zero account marketing

Max leverage (by region)

1000:1 XM Global (Belize) and offshore entities; 30:1 retail EU (CySEC/ESMA: 30:1 majors, 20:1 minors/gold/major indices, 10:1 commodities/other indices, 2:1 crypto); 30:1 retail Australia (ASIC); ~30:1-equivalent DFSA retail (3.33% min margin)

VPS

Free VPS if account balance ≥ $5,000 AND ≥ 5 standard round-turn lots (or 500 micro lots) traded per month; otherwise $28/month deducted from the trading account

Copy trading

Yes — XM Copy Trading via the XM app/web platform (30+ languages)

Instruments

Forex

55+ currency pairs (majors, minors, exotics)

CFDs

1,400+ total instruments: 1,200+ stock CFDs, ~34 equity indices plus ~6 thematic indices, commodities (8+ softs), precious metals, energies, turbo stocks; plus real share dealing via the $10k Shares account in select regions

Crypto CFDs

Yes at XM Global (Belize): ~58-60 crypto CFDs vs USD (BTC, ETH, LTC, XRP, DOGE, SHIB etc.), leverage up to 250:1 (sources conflict, some cite up to 500:1 on BTC/ETH); 24/7. NOT available to clients under the CySEC and DFSA (and reportedly CMA) entities

Crypto for retail (no pro status)

UK: NO — FCA retail ban on crypto derivatives (2021) still in force in 2026 (FCA only opened retail access to crypto ETNs, explicitly keeping the derivatives ban); XM-brand UK clients booked offshore could technically access crypto CFDs via XM Global, outside FCA protection. EU: XM's CySEC entity does NOT offer crypto CFDs to retail (own restriction; ESMA would cap at 2:1). Australia: legally permitted at 2:1, but whether XM's ASIC entity offers crypto CFDs was not confirmed. Elsewhere (XM Global Belize): YES, retail crypto CFDs at high leverage

Consumer protection

Negative balance protection

Yes — advertised across all entities/accounts including XM Global (Belize); statutory under CySEC/ASIC/DFSA rules

Client fund segregation

Yes — client funds held in segregated accounts at major banks, stated for EU and non-EU entities

Compensation scheme

CySEC entity: Cyprus ICF up to €20,000 (lower of 90% of covered claim or €20k). Belize (XM Global), Mauritius, South Africa: NO compensation scheme. Australia: no statutory scheme (AFCA complaints only). DFSA: no ICF/FSCS-equivalent. NO FSCS cover for UK clients — XM brand has no active UK FCA entity

Stated retail loss %

72.82% of retail investor accounts lose money when trading CFDs with this provider (XM EU/CySEC disclosure; variants of 74.07–75.33% seen across regional sites/periods in 2026)

Reputation

Trustpilot: ~3.8/5 with ~2,500 reviews (mid-2026, via secondary citations; ~46% 5-star vs ~31% 1-star). Exact live score not directly verifiable — Trustpilot blocked scraping; one source claimed the rating was temporarily 'unavailable due to a breach of guidelines' (unconfirmed) (Trustpilot)

Regulatory actions / fines

• 2013 — CySEC €5,000 administrative penalty on Trading Point for insufficient provisions to protect/indemnify client funds plus AML-procedure irregularities (Finance Magnates, June 2013)
• No FCA, ASIC, CNMV or CySEC enforcement actions against XM/Trading Point found for 2014–2026 in public searches (multiple FCA warnings exist about CLONE firms impersonating Trading Point UK's old FRN 705428 — scammers, not XM)
• FinTelegram assigned Trading Point Group (XM/XMTrading) an 'orange' compliance rating — a watchdog-blog flag, not a regulatory action

Noted issues

• Recurring Trustpilot complaint themes: withdrawal delays/complications, accounts suspended and profits voided for alleged 'suspicious trading'/bonus abuse, prolonged verification, deposits debited but not credited, spread widening during volatility
• UK/most international retail clients are booked with the Belize entity (weakest protections: no compensation fund, offshore recourse) while marketing leans on the group's CySEC/ASIC licences
• Group's UK FCA entity (FRN 705428) was renamed trading.com Markets UK Limited — the XM brand no longer offers FCA-regulated accounts
• Standard-account spreads (~2.0 pips avg EURUSD measured Oct 2025) are expensive vs raw+commission peers; the cheap Zero account is EU-only as of 2026
• Heavy bonus/promotion marketing via the offshore entity (bonuses prohibited under EU/AU entities)

Cost figures reflect each broker's published specifications as of 11 July 2026 and can change; always check the broker's current terms. Most retail investor accounts lose money trading CFDs. PipTax compares costs and is not investment advice. How we research this.