XM Broker Review
XM operates through several legal entities, and two of them matter to a reader in the Middle East: XM Global Limited, licensed by the Financial Services Commission (FSC) in Belize under number 8557558, and Trading Point MENA Limited, licensed by the Dubai Financial Services Authority (DFSA) under reference F003484 and registered in the DIFC under number 3273. For how it compares with other brokers, see our guide to the best forex brokers.
The difference between the two is substantial rather than cosmetic. Maximum leverage reaches 1:1000 with the international entity but stops at 1:30 with the Dubai entity, where it also varies by instrument. Which entity holds your account therefore decides the terms you actually trade under, and these two licences are not a single combined status.
XM at a Glance
| Item | XM Global Limited — Belize (international entity) | Trading Point MENA — Dubai DFSA |
|---|---|---|
| Licence | Financial Services Commission (FSC) Belize — number 8557558 | Dubai Financial Services Authority (DFSA) — reference F003484, registered in the DIFC under number 3273 |
| Account types | Standard · Ultra Low · Shares | Ultra Low · Professional |
| Minimum deposit | Standard $5 · Ultra Low $5 · Shares $10,000 | $5 |
| Maximum leverage | Up to 1:1000 | Up to 1:30, depending on the instrument traded |
| Commission | Not disclosed on this entity’s pages — the agreement refers to the commission schedule inside the platform | Not disclosed |
| Inactivity fee | Not disclosed as a figure for this entity | Not disclosed as a figure for this entity |
| Item | Both entities |
|---|---|
| Spreads | The company publishes a general ‘from 0.8 pips’ statement that is not attributed to any particular pair or account type |
| EUR/USD, XAU/USD, GBP/USD, USD/JPY spreads | Not disclosed — the company does not publish spread figures for individual pairs |
| Platforms | MetaTrader 4 · MetaTrader 5 (Windows, Mac, WebTrader, mobile and tablet) · the XM app |
| Islamic account (swap-free) | Available as a standard option on all account types |
| Number of instruments | More than 1,400 |
| Deposit and withdrawal methods and fees | Not published as a list or fee schedule on the public pages |
Account Types at XM
Traders can reach the markets through XM via three live account types with the international entity — Standard, Ultra Low and Shares — plus a demo account. The Dubai DFSA entity offers Ultra Low and Professional accounts instead. An Islamic swap-free option is available as standard on all account types.
Standard and Ultra Low both carry a minimum deposit of $5. The Shares account requires $10,000. XM does not publish a spread figure per account type, nor a commission figure for the international entity: its client agreement refers instead to the commission schedule shown inside the trading platform, so no commission number is stated here.
A commission of $7 per $100,000 traded, and an inactivity fee of $5 per month, appear in the documents of the European (CySEC) and UK (FCA) entities only. Neither applies to a client of the international or Dubai entity, so neither is presented as a general XM figure.
XM Licensing and Regulation
- XM Global Limited — Financial Services Commission (FSC), Belize, licence number 8557558. This is the default entity on xm.com and the one that serves most Middle East clients.
- Trading Point MENA Limited — Dubai Financial Services Authority (DFSA), reference F003484, registered in the DIFC under number 3273. This is the locally licensed entity in the region, reached through the xm.com/mena path.
Three different licence numbers for XM Global Limited appear across the company’s own documents: the regulation page states 8557558, while the client agreement and risk disclosure on the same domain state 000261/309, and an older document states IFSC/60/354/TS/18. Because the company’s own sources disagree, treat the number as unsettled and verify it directly with the regulator.
Investor compensation schemes and negative balance protection are features of specific regulatory regimes, not of the XM brand as a whole. They are not published as applying to the Belize or Dubai entities, so no such protection is claimed here for an account opened with either. Regulatory status can change; check it with the regulator before depositing funds.
Trading Platforms at XM
Clients on any account type can use either MetaTrader 4 or MetaTrader 5. Both are available for Windows and Mac, through WebTrader in a browser, and as mobile and tablet apps for iOS and Android. XM also publishes its own XM app.
Both platforms are long-established and straightforward to learn. Traders who want a more specialised environment may find the choice narrow, but for most account types it covers the standard workflow.
Deposits and Withdrawals at XM
XM does not publish a list of deposit and withdrawal methods, or a fee schedule for them, on its public pages. Available options and any charges appear inside the client area. One marketing page states that withdrawals are made without any fees, but no published fee schedule confirms it, so no fee figure — zero or otherwise — is stated here. Check the current terms in your client area before funding an account.
XM’s Trading Education Efforts
A forex or CFD broker can offer sound service without providing any education or research at all. The core job is executing trades and safeguarding deposits, and that is the function most clients actually need.
XM publishes research as news and analysis on the major markets, including technical analysis across price charts covering forex, commodities and stocks. Its education section is split into live lessons, instructional videos, webinars, platform tutorials and seminars. Educational material is not a substitute for regulatory protection and should not weigh in a decision about where to hold your funds.
Customer Support at XM
Support is offered by email, phone and live chat, across several departments. XM does not publish a confirmed figure for the number of support languages or its support hours, so none is stated here. Logging in to your XM members area first generally routes a query to the right department faster.
FAQ
What account types does XM offer?
With XM Global Limited, the international entity, there are three live account types: Standard, Ultra Low and Shares, plus a demo account. Standard and Ultra Low each require a minimum deposit of $5, and the Shares account requires $10,000. With Trading Point MENA Limited, the Dubai DFSA entity, the account types are Ultra Low and Professional, with a $5 minimum deposit. A Micro account is no longer listed among XM’s account types on its official pages.
What is an XM account?
An XM account is a trading account for online trading in forex and CFDs, precious metals, stocks, indices and energy, covering more than 1,400 instruments. Which company holds it matters: XM Global Limited is regulated in Belize by the FSC, and Trading Point MENA Limited is regulated in Dubai by the DFSA, and the two differ substantially — most visibly in maximum leverage, which is up to 1:1000 with the former and up to 1:30 with the latter.
What leverage does XM offer?
Up to 1:1000 with XM Global Limited in Belize, and up to 1:30 with Trading Point MENA Limited in Dubai, where the figure also depends on the instrument being traded. Higher leverage magnifies losses as well as gains, and the leverage available to you is set by the entity your account is opened with rather than chosen freely.
What spreads does XM charge?
XM does not publish spread figures for individual currency pairs. The only figure it publishes is a general ‘from 0.8 pips’ statement that is not attributed to any particular pair or account type. Any per-pair spread number quoted elsewhere for XM does not come from the company’s own published material.
How do you trade on XM?
Open a live trading account on XM’s website and fund it. Install one of the available platforms, MetaTrader 4 or MetaTrader 5, on your computer, or trade in a browser through WebTrader. Add the instruments you want to your watchlist, then open a buy or sell position sized against your available balance and the risk you are willing to take. Set your take-profit and stop-loss levels before you open the position, and monitor it until one of them is reached. Trading on leverage can result in the loss of all capital.
Disclaimer
This article is for educational purposes only and does not constitute investment advice or a personal recommendation to trade with any specific broker. Trading forex and CFDs on leverage carries a high level of risk and may not be suitable for every investor; a majority of retail investor accounts lose money when trading CFDs. Past performance and awards are not a guarantee of future results. Always check a broker’s current regulatory status directly with the regulator before depositing funds.
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