Cyprus-based broker built around accessibility (a $5 minimum deposit and four regulators) rather than raw/ECN pricing.
XM's homepage.
XM (operated by the Trading Point group) has been active since 2009, regulated through entities under CySEC (licence 120/10), ASIC (443670), the FCA (705428), Belize’s FSC, and Dubai’s DFSA, one of the wider regulatory footprints we cover. It’s built its reputation around a low barrier to entry rather than raw institutional-style pricing.
The standout figure here is the $5 minimum deposit, widely corroborated across independent sources, alongside a wide choice of account base currencies (USD, EUR, JPY, GBP, AUD, CHF, ZAR, HUF, SGD, PLN), the broadest currency list among the brokers we cover.
The Micro and Standard accounts run “as low as 1 pip” on EUR/USD (variable, not guaranteed), while the Ultra Low account brings that down to around 0.6 pips. A separate Zero account offers commission-based raw pricing but is limited to USD/EUR/JPY base currencies; recent testing puts its EUR/USD average around 0.22 pips. If tight raw spreads are your top priority, IC Markets or Admirals’ Zero account currently run tighter still for high-volume trading.
XM supports MT4 and MT5 only, with no cTrader and no proprietary desktop platform beyond a WebTrader/app layer on top of MetaTrader. Platform choice here is narrower than several competitors on this list.
XM is a strong starting point if you want the lowest possible barrier to entry and broad currency flexibility, but it’s not the cost-optimal choice for higher-volume traders who’d benefit more from a true raw/ECN account elsewhere. Confirm which entity you’re onboarded to given the meaningful leverage and protection gap between XM’s regulated and offshore arms.
| Regulated by | Belize FSC (8557558); CySEC (120/10); ASIC (AFSL 443670); DFSA (F003484); FSCA (49976) |
|---|---|
| Regulator tier | Tier 1 |
| Register entry | Belize FSC Register |
| Client money segregated | Yes |
| Held at | Top-tier global banks |
| Negative balance protection | Yes |
| Compensation scheme | ICF up to €20,000 for eligible CySEC clients |
| Audited by | Independent external auditors |
| Not available to | United States, Canada, Israel, Iran and other sanctioned/restricted jurisdictions |
| Spread from | 0.8 pips |
|---|---|
| EUR/USD spread | Approx. 0.8 pips |
| GBP/USD spread | Approx. 1.0 pip |
| Commission | $0 on Standard and Ultra Low accounts |
| All-in cost, EUR/USD | Approx. 0.8 pips |
| Spread type | Variable |
| Overnight swap | Both: swaps apply on applicable instruments/accounts; swap-free conditions available |
| Inactivity fee | $10/month after 90 days inactivity |
| Minimum deposit | $5 |
|---|---|
| Account types | Standard, Ultra Low, Shares, Islamic, Demo |
| Account currencies | USD, EUR, GBP, JPY |
| Islamic account | Yes |
| Demo account | Yes |
| Professional account | Yes, where available by jurisdiction |
| Minimum trade size | 0.01 lots |
| Time to open | Approx. 5 minutes |
| Platforms | MetaTrader 4, MetaTrader 5, XM App |
|---|---|
| Own platform | Yes, XM App |
| Mobile app | Both proprietary and third-party |
| Browser trading | Yes |
| Automated trading | Yes; Expert Advisors and backtesting supported on MT4/MT5 |
| Copy trading | Yes, XM Copy Trading |
| Indicators | 30+ MT4; 38+ MT5; additional advanced charting in XM App |
| Third-party tools | VPS, advanced charting and analytical tools |
| API access | No public retail API |
| Markets | Forex, Cryptocurrencies, Stocks, ETFs, Indices, Commodities, Precious Metals, Energies, Shares, Thematic Indices |
|---|---|
| Currency pairs | 55+ |
| Total instruments | 1,400+ |
| Crypto CFDs | Yes |
| Maximum leverage | 1:30 |
| Execution model | Market maker / principal |
| Execution speed | 99% of orders executed in under 1 second |
| Order types | Market, limit, stop, stop-loss, take-profit, trailing stop |
| Servers | London and global data-centre infrastructure |
| Deposit methods | Visa, Mastercard, bank transfer, electronic payment providers and local payment methods |
|---|---|
| Withdrawal methods | Credit/debit card, bank transfer, electronic wallets and supported local payment methods |
| Deposit time | Instant for most electronic methods; bank transfer typically 2-5 business days |
| Withdrawal time | Instant/same-day processing where automatically approved; bank wire and cards typically 2-5 business days |
| Minimum withdrawal | $5 |
| Local payment methods | Yes, multiple region-specific electronic and local payment methods |
| Support hours | 24/7 |
|---|---|
| Contact channels | Live chat, email, Help Centre |
| Languages | 30+ languages |
| Telephone | +501 223-6696 |
| support@xmglobal.com | |
| Live chat response | Typically within seconds |
| Education | Extensive: Learning Center, live education, webinars, courses, tutorials and educational videos |
| Research | Extensive: news and analysis, analytical tools, market insights and forex calculators |