The verdict in 30 seconds
Independent review of XM, covering regulation, licenses, accounts, spreads, platforms, funding methods, and swap-free account terms.
XM is regulated through Tier 1, offers MT4, MT5, XM App, spreads from 0.6 pips, and leverage up to 1:1000.
Best for: XM is best suited for beginner traders seeking a low minimum deposit ($5) and access to Islamic account options, as well as traders in MENA regions requiring Arabic language support. The broker offers MT4, MT5, and XM App platforms, regulated by CySEC, ASIC, and DFSA. However, its spreads are wider compared to ECN-focused brokers, making it less ideal for those prioritizing tight spreads.
Look elsewhere if: Spreads wider than ECN-focused brokers
Regulation & licensing
License status is shown explicitly. Withdrawn or revoked licenses are never hidden.
| Regulator | Full name | Jurisdiction | License number | Tier | Status |
|---|---|---|---|---|---|
| CySEC | Cyprus Securities and Exchange Commission | Cyprus | 120/10 | Tier 1 | Active |
| ASIC | Australian Securities and Investments Commission | Australia | 443670 | Tier 1 | Active |
| DFSA | Dubai Financial Services Authority | UAE | F003484 | Tier 2 | Active |
Accounts, spreads & leverage
The spread band is Moderately low spreads starting at 0.6 pips on major FX pairs.. Maximum leverage depends on the account and regulating entity.
| Account | Minimum | EUR/USD spread | Commission / lot | Execution | Leverage | Swap-free |
|---|---|---|---|---|---|---|
| Micro | $5 | 1.6 pips | 0 | Market Maker | 1:1000 | — |
| Standard | $5 | 1.6 pips | 0 | Market Maker | 1:1000 | — |
| XM Ultra Low | $50 | 0.6 pips | 0 | STP | 1:1000 | — |
| Islamic (Standard) | $5 | 1.6 pips | 0 | Market Maker | 1:1000 | ✓ |
Deposits & withdrawals
Withdrawal timing: Verify the official withdrawal timetable as deposit processing times do not specify withdrawal durations.
| Method | Deposit fee | Withdrawal fee | Processing | Currencies |
|---|---|---|---|---|
| Bank Wire | Free | Free | 2-5 business days | USD,EUR,GBP |
| Visa/Mastercard | Free | Free | Instant | USD,EUR,GBP |
| Skrill | Free | Free | Instant | USD,EUR |
| Neteller | Free | Free | Instant | USD,EUR |
Trading platforms
Islamic account & our Sharia checklist
Swap-free account: Available.
A swap-free label is not the same as a Sharia-compliance verdict. Check that no overnight interest is charged under another name, replacement fees are fixed rather than interest-linked, leverage terms are understood, and the exact contract is reviewed.
Our factual note: XM offers an Islamic (Standard) account with swap-free implementation, but the broker does not disclose specific terms or conditions for this feature. Swap-free availability alone does not confirm Sharia compliance, and traders must verify the official terms for full understanding.
Who XM is for
XM is best suited for beginner traders seeking a low minimum deposit ($5) and access to Islamic account options, as well as traders in MENA regions requiring Arabic language support. The broker offers MT4, MT5, and XM App platforms, regulated by CySEC, ASIC, and DFSA. However, its spreads are wider compared to ECN-focused brokers, making it less ideal for those prioritizing tight spreads.
- Ultra-low $5 minimum deposit — very beginner friendly
- Extensive free education with daily webinars
- DFSA regulated — authorized for MENA clients
- Full Arabic website and support
Who should look elsewhere
No broker fits everyone. Consider another option if the following limitations matter to you.
- Spreads wider than ECN-focused brokers
- No cTrader or TradingView integration
Frequently asked questions
Is XM regulated?
XM is regulated by CySEC (120/10), ASIC (443670), DFSA (F003484). Review the licensing table for current status.
What is the minimum deposit at XM?
The disclosed minimum deposit starts from $5.
Does XM offer an Islamic account?
XM advertises a swap-free account. This does not constitute a halal or Sharia-compliance verdict; verify its fees and terms.
What platforms does XM support?
XM supports MT4, MT5, XM App.
What is the maximum leverage at XM?
The disclosed maximum leverage is up to 1:1000, subject to account and regulator.
How long do withdrawals take at XM?
Verify the official withdrawal timetable as deposit processing times do not specify withdrawal durations.
Reviews are independent and informational, not investment advice. Trading carries high risk. Regulatory status and terms can change. Last reviewed: July 8, 2026.
