Editorial review score
XM Preferred
4.2/5
Verdict. A broker that is easy to start with and runs smoothly: strong platforms, fast payouts and licences in the UK, EU, Australia and Dubai. The range of markets is narrower than the best, and clients of its offshore company give up the protections the regulated companies offer.
Strengths
- MT4, MT5 and its own app, all strong in testing
- Withdrawal paid out the same day
- Licensed in the UK, EU, Australia and Dubai
Weaknesses
- Narrower range of markets than the leading brokers
- Offshore XM Global clients have no compensation scheme
Reviews are editorial and unpaid, scored to a published method. Audit grades are a separate service and never change a review score.
| Item | Value |
|---|---|
| Regulation & Licensing | 80 |
| Corporate Structure & Ownership | 72 |
| Client Money & Payouts | 79 |
| Execution & Pricing | 88 |
| Conduct & Disclosure | 86 |
| Operational Resilience | 92 |
| People & Community | 100 |
Highlighted: scores of 85 or more. Overall 83/100, grade AA.
Source: TBR audit TBR-A-2026-001
XM is the trading brand of the Trading Point group, a forex and CFD broker with regulated companies in the UK, Cyprus, Australia and Dubai, and an offshore company in Belize. We funded a live account, traded and requested a withdrawal on 2 October 2026, and reviewed the group’s licences and public record for our audit of XM.
- Minimum deposit, Standard and Ultra Low accounts
- $5
- Platforms: MT4, MT5 and the XM App
- 3
- Licensed group companies
- 5
- TBR audit grade, out of 100
- AA 83
The most important thing to understand about XM is not a feature. It is which company you end up contracting with.
Which XM you get
XM runs two very different offers under one brand:
| XM in the EU | XM Global | |
|---|---|---|
| Company | Trading Point of Financial Instruments Ltd | XM Global Limited |
| Regulator | CySEC (licence 120/10) | FSC, Belize |
| Maximum leverage | 30:1 on major currency pairs | Up to 1000:1 |
| Trading bonuses | Not permitted | Offered |
| Investor compensation | Investor Compensation Fund, up to €20,000 | None |
| Item | Value |
|---|---|
| XM in the EU (CySEC) | 30:1 |
| XM Global (FSC Belize) | 1000:1 |
Higher leverage multiplies losses as well as gains. EU retail limits are set by law.
Source: XM, Margin and leverage
EU retail clients get XM under the EU’s CFD rules: leverage that XM describes as fixed between 1:5 and 1:30 depending on the instrument, negative balance protection, and no trading incentives. Clients onboarded to XM Global get far higher leverage and access to bonuses, but none of those protections. Check the company named in your client agreement before you deposit.
Accounts
XM’s account pages list three main accounts:
- Standard: minimum deposit $5. This is the account XM promotes with bonuses, which apply only where its entity is permitted to offer them.
- Ultra Low: minimum deposit $5, with lower spreads aimed at higher-volume traders.
- Shares: minimum deposit $10,000, for trading shares.
XM states that its accounts come with negative balance protection, hedging and Islamic account options.
Platforms
XM offers MetaTrader 4, MetaTrader 5 and its own XM App.
Markets
XM lists forex (major, minor and exotic pairs), stock CFDs, commodities including softs such as coffee and sugar, equity indices, precious metals, energies, cryptocurrencies and thematic indices.
Our test
On 2 October 2026 we funded a live account, placed trades and withdrew funds. Our audit scored XM’s execution and pricing at 88 out of 100 and its operational resilience at 92 during testing. The withdrawal arrived the same day.
Regulation and safety
XM’s UK, EU, Australian and Dubai companies are properly licensed, and we confirmed the FCA, CySEC and DFSA licences on the regulators’ own registers. The weak point is the offshore company: clients of XM Global have no compensation scheme and receive the incentives EU rules prohibit. The full findings are in our audit report, which grades XM AA (83/100).
Sources
Trading leveraged products such as CFDs carries a high risk of losing money rapidly. Only trade with money you can afford to lose.
