XM
Limassol-founded (2009) broker with 8 regulatory licenses including FCA, ASIC and CySEC, known for a $5 minimum deposit and 1,000+ tradable instruments on MT4/MT5.
Key Facts
- Regulation
- FCA, ASIC, CySEC, IFSC, FSC Mauritius, FSA Seychelles
- Platforms
- MT4, MT5, XM WebTrader
- Instruments
- Forex, Commodities, Indices, Stocks
- Spread from
- 0.0 pips (XM Zero account)
- Commission
- $0 (Micro/Standard) / commission on XM Zero
- Minimum Deposit
- $5
- Account Types
- Micro, Standard, XM Zero
- Rating
- 4.0 / 5
Features
- No re-quotes or rejections policy
- Negative balance protection
- Islamic account option
- Weekly webinars in 19+ languages
Pros
- + Very low $5 minimum deposit
- + 8 regulatory licenses across major jurisdictions
- + Extensive educational content
Cons
- − No cryptocurrency CFDs
- − $5 monthly inactivity fee after 90 days
- − Standard account spreads wider than ECN competitors
Who it may suit
Based on its account minimums, platform selection and instrument range, XM tends to suit traders getting started or testing a strategy with a small account. Confirm this against your own goals and risk tolerance before opening an account.
Risk information: Trading with this broker involves risk of loss. Verify current terms, regulation and leverage for your region directly with the broker before opening an account.
Risk warning: Forex and CFD trading involves substantial risk of loss. Content on this site is educational and not financial advice. Read the full disclaimer.