Broker review · 2026
XM review 2026
A $5 minimum deposit, strong education and MetaTrader on every account.
XM is one of the most popular forex brokers worldwide, especially in Asia, Africa and Latin America. A $5 minimum deposit, micro lots, frequent webinars and a well-built mobile app make it beginner-friendly, while the XM Zero account offers raw pricing for more active traders.
Pros
- Very low $5 minimum deposit and micro accounts
- Excellent free education, webinars and daily analysis
- MT4 and MT5 on every account type
- Negative balance protection and no requotes policy
Cons
- Standard account spreads are wider than raw-spread rivals
- No cTrader or native TradingView trading
- Not available in the US; UK clients are referred elsewhere
- Inactivity fee after 90 days without trading
XM overview
XM (Trading Point Holdings) launched in 2009 and now reports millions of clients in more than 190 countries. Its pitch is accessibility: you can open a Micro account with $5, trade in 0.01-lot increments and learn through a large library of webinars, videos and daily market commentary in dozens of languages.
Is XM safe and regulated?
European clients trade with Trading Point of Financial Instruments under CySEC; Australian clients with an ASIC-licensed entity; and other entities hold DFSA and FSCA authorisations. Many international clients are onboarded via XM Global under the FSC of Belize, which allows leverage up to 1:1000 but offers fewer protections than CySEC or ASIC. All retail accounts include negative balance protection.
Tier-1 regulators are shown in bold. Always confirm the licence on the regulator’s own register.
XM spreads and fees
The Standard and Micro accounts are commission-free with EUR/USD typically around 1.6 to 1.7 pips, which is on the expensive side. The Ultra Low account narrows this to around 0.8 pips, and XM Zero offers spreads from 0.0 pips plus $3.50 per side per lot. A $5 monthly inactivity fee applies after 90 days without activity.
| Account | EUR/USD spread | Commission (round turn) | Cost per lot |
|---|---|---|---|
| Standard | 1.6 pips | $0 | $16.0 |
| Raw / ECN | 0.1 pips | $7 | $8.0 |
Trading platforms
Every XM account runs on MT4 or MT5, available on desktop, web and mobile, plus the XM app for account management and trading. There is no cTrader. XM also offers a built-in copy-trading service and an in-house research desk with daily technical and fundamental analysis.
How XM scores
- Trust & regulation 30%
- 4.2
- Fees & spreads 25%
- 3.7
- Platforms & tools 15%
- 4.0
- Markets & range 10%
- 4.0
- Ease of use 10%
- 4.7
- Research & education 10%
- 4.5
Verdict
XM is a strong first broker: easy to fund, well regulated where it counts and packed with education. Cost-sensitive traders should use the Ultra Low or Zero account, or compare against IC Markets or Exness.
Open an account with XMYou will be taken to xm.com.
XM FAQ
What is the XM minimum deposit?
XM accepts deposits from $5 on its Micro and Standard accounts. The XM Zero account requires more in some regions.
Is XM a safe broker?
XM is regulated by CySEC, ASIC, DFSA and FSCA, among others. Clients onboarded to the Belize entity have lighter regulatory protection.
Can US residents use XM?
No. XM does not accept clients from the United States.
Is XM good for beginners?
Yes. XM scores 4.7/5 for ease of use in our testing, with a $5 minimum deposit.