XM — Forex & CFD Broker
A practical overview of the broker whose referral link we use, based on what XM itself states, plus what to watch before you open an account.
Open a real accountScale and experience
XM states it is a multi-regulated global broker serving over 20 million clients in more than 190 countries, with 24/7 support in 39+ languages.
Regulation
The XM group operates through entities authorised by regulators such as CySEC (EU), FSCA (South Africa), DFSA (UAE), IFSC (Belize), FSC (Mauritius), FSA (Seychelles), CMA (Kenya) and FSC (BVI). Which entity serves you depends on your country of residence; its name and licence are shown at sign-up — read them before depositing.
Platforms
MetaTrader 4 and MetaTrader 5, the XM app and a web version. One-click trading and expert advisors (EAs) are supported.
Markets
1,400+ assets: currencies, gold and metals, indices, energies, shares and more.
Negative balance protection
XM states you cannot lose more than you deposit. That matters, but it does not prevent losing everything you deposited.
Account types
A free demo account and several real account types. All allow hedging and offer an Islamic (swap-free) option.
Education and tools
Live education rooms, videos in several languages, an economic calendar, calculators, daily technical analysis and copy trading.
Real account types
| Standard | Ultra Low | |
|---|---|---|
| Minimum deposit | $5 | $5 |
| Micro account | Available | Available |
| Deposit bonus | Available | Not available |
| Commission | None | None |
| Swap | Standard (Islamic option is swap-free) | Swap-free |
| Lowest spreads (per XM) | — | Gold 2.4 · USDJPY 0.9 · EURUSD 0.8 |
Both accounts advertise leverage up to 1:1000. Our advice: start at 1:100 or lower.
A Shares account also exists, with a $10,000 minimum; it does not suit beginners.
Figures come from XM's own materials and may vary by entity and country of residence; check your account details.
Leverage: the highest number is not the best
XM advertises leverage up to 1:1000, depending on account type, entity and country. High leverage does not raise your expected profit; it enlarges the position you can open, and so enlarges losses just as fast.
As a beginner: start at 1:100 or lower, and size each trade from the loss you can accept (a small share of the balance), not from the maximum leverage allows. Use the site's calculator to see position size and risk before you click.
Costs and bonuses: read the terms
XM states its Ultra Low account has no commission and no swap on some instruments, with low spreads. Terms differ by instrument and entity, so check the instrument table in your account.
The deposit bonus, where available, applies to Standard accounts and is used as margin. It is not cash you can withdraw directly and it does not make a loss any less yours — read its full terms before accepting.
Who is this broker for?
Someone who wants familiar MT4/MT5 platforms, a free demo to practise on, an Islamic account option and multilingual support.
Always start on the demo until your rules hold up, then move to a real account with an amount you can afford to lose.
What we do and do not do
We give no recommendations, no trading signals and no account management, and we take no money from you. Deposits and withdrawals happen directly with the broker.
Figures and claims on this page are attributed to XM and can change; the final reference is the broker's site and your account terms.
Partner code
GG6DH
If you are asked for a partner code when opening the account, enter this one.
Warning: trading forex and CFDs carries a high level of risk and you may lose all your capital. It is not suitable for everyone.