• Multiple global licences held
  • Crypto deposits/withdrawals unavailable
  • Real accounts tested
Written by Angelo Martins
Edited by David Johnson
Fact checked by Evelina Laurinaityte
Human moderated by Jason Peterson
Last updated April 2025
Advertising disclosure ⇾

Thinking about trading with XM in 2025? Let's see what they offer. Here we'll look at real trader feedback, break down their costs like spreads and swaps, and check their regulatory status to see how they measure up.

Live Spreads: Account Type is Key

We are loading data ...

A key trading cost is the spread – the difference between the buy and sell price. At XM, this cost really depends on the account you choose. Their Micro and Standard accounts don't typically charge commission fees but often have wider spreads. The XM Ultra Low account takes a different approach, aiming for tighter spreads, also often without extra commission.

Our live data suggests that while XM's standard spreads might be higher than some ultra-low-cost brokers, the overall package (often including bonuses) is popular. For potentially lower costs per trade, the Ultra Low account is worth investigating. Want to compare XM head-to-head? Use the orange "Edit" button above.

XM (xm.com) User reviews

4.3
(205 )
Ranked 63 out of 1750 (Forex Brokers)
This rating is based on 172 reviews by users that proved they are real customers of this company. All reviews undergo significant human and technical moderation. Companies that get 30+ reviews by verified reviewers are scored only on their ratings by verified reviewers and get a green checkmark by their rating.

Scanning XM verified user reviews on FxVerify, traders often praise the broker for its bonuses and promotions. Fast deposits and withdrawals are frequently mentioned positives, alongside helpful customer support. The Ultra Low account gets nods for better pricing. On the downside, high spreads on other accounts are a common complaint, and some users report occasional withdrawal issues or slippage during volatile times.

XM (xm.com) Overall rating

4.7
Ranked 4 out of 1750 (Forex Brokers)
Overall rating is derived from an aggregate of ratings in multiple categories.
Rating Weight
User Rating 3
Popularity
4.8
3
Regulation
5.0
2
Pricing rating
4.8
1
Features
Not rated
1
Customer Support
Not rated
1

The overall ratings on FxVerify reflect XM's popularity, particularly among retail traders. Founded in 2009, they have grown into a large, well-established global broker recognised for its extensive marketing and bonus offerings. They hold licences from multiple regulators across different regions, contributing to their reputation. XM scores well for its platform options and customer support availability. They are a privately held company and not structured as a bank.

Regulation: Multiple Licences Globally

Company Licenses & Regulations Segregated Client Money Deposit Compensation Scheme Negative Balance Protection Rebates Max. Leverage Retail Clients
Trading Point of Financial Instruments Pty Ltd 30 : 1
Trading Point of Financial Instruments Limited up to €20,000 30 : 1
XM Global Limited 1000 : 1
Trading Point MENA Limited 30 : 1

XM operates under various licences globally, demonstrating a commitment to regulation in different jurisdictions. Key regulators include CySEC (Cyprus/EU), ASIC (Australia), the FSC (Belize), and the DFSA (Dubai). This multi-licensing means the rules and protections can differ depending on which entity your account is registered with.

Crucially, this impacts leverage: clients under EU (CySEC) or Australian (ASIC) regulation are typically limited to 1:30 leverage on major forex pairs. In contrast, clients under the FSC (Belize) entity may be offered significantly higher leverage, potentially up to 1:1000. Investor compensation schemes (like the ICF in Cyprus) are also tied to specific regulators and don't apply universally across all XM entities.

Available Assets: 1,400+ Global Instruments

Loading data...

XM provides traders access to a wide array of instruments. This includes a large selection of forex pairs, plus CFDs on stock indices, commodities (like oil and gold), precious metals, energies, and cryptocurrencies. They also offer CFDs on individual company stocks. Please note that instrument availability might be subject to entity/jurisdiction.

You can use the live symbol search tool above to browse the currently available instruments, with data pulled from active accounts. It's important to remember that most of these are traded as CFDs (Contracts for Difference). This means you're speculating on price movements without actually owning the underlying asset, enabling the use of leverage but also increasing the associated risks.

Live Swap Rates: Overnight Holding Costs

Swap Rate: Long Position
Swap Rate: Short Position
Swap Rate Calculation Method
Loading data...
We are loading data ...

Holding positions overnight with XM incurs swap fees (also known as rollover or financing costs). These can be charged to your account or credited, varying based on the instrument, trade direction (long/short), and interest rate differentials. The table above displays live swap rates gathered by our analysis tool.

XM's swap rates are variable and might not always be the most competitive compared to brokers focused purely on low-cost ECN-style execution, especially considering their wider-spread account options. As is standard practice, XM's triple swaps are applied on Wednesdays to cover the weekend. Use the orange "Edit" button to make direct comparisons with other brokers or symbols.

Trading Platforms: MT4, MT5 & Functional XM App

Platform Pros Cons
MetaTrader 4 (MT4)
  • Hugely popular, familiar interface
  • Vast library of custom indicators and EAs
  • Proven stability and widespread support
  • Good choice for forex-focused traders
  • Older platform, fewer native features than MT5
  • Limited support for assets beyond Forex/CFDs
  • MQL4 language less powerful than MQL5
MetaTrader 5 (MT5)
  • More built-in tools, indicators, and timeframes
  • Better equipped for multi-asset trading
  • Advanced MQL5 programming language
  • Includes features like economic calendar & DOM
  • Can have a slightly steeper learning curve
  • Some older MT4 custom tools may not work
XM App (Proprietary Mobile)
  • Seamless integration with XM account
  • Modern design focused on mobile trading
  • Easy account management and trading access
  • Potentially includes integrated news/analysis
  • Likely less powerful charting than desktop MT4/MT5
  • Limited customisability compared to MetaTrader
  • Dependent on XM's development
  • Fewer third-party tools/EAs available

XM offers the globally recognised MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, which are industry benchmarks available on desktop, web, and mobile. Additionally, they provide their own proprietary XM App for a streamlined mobile trading experience. The table above summarises the main advantages and drawbacks of each platform.

Deposits/Withdrawals: Wide Variety, Generally Fast

Method Processing Time (Deposits) Fees (Charged by XM) Available Currencies (Common Base)
Credit/Debit Cards (Visa, Mastercard) Usually Instant None USD, EUR, GBP, JPY, AUD, etc. (Varies)
Bank Wire Transfer Typically 2-5 business days (XM covers fees over certain amounts*) USD, EUR, GBP, JPY, AUD, etc. (Varies)
Skrill Usually Instant None USD, EUR, GBP, etc.
Neteller Usually Instant None USD, EUR, GBP, etc.
Other E-wallets / Local Payment Methods Varies (Often Instant/Same Day) None Region-specific (USD, EUR, Local)

XM provides numerous ways to fund your account and withdraw profits, including major credit/debit cards, bank transfers, and popular e-wallets like Skrill and Neteller. They also support various local payment methods depending on your country. Processing is generally reported as fast, especially for e-wallets.

XM usually doesn't charge fees for deposits or withdrawals (*they often state they cover bank wire fees for amounts over a certain threshold, often around $200/€200). However, it's crucial to remember that your own bank or payment provider might impose charges. Currently, direct funding via cryptocurrencies is not typically offered by XM. Always check the official XM website for the most up-to-date list of methods, fees, and processing times specific to your region.

Leverage: Up to 1000:1 Offshore

Leverage at XM varies dramatically based on the regulatory entity governing your account. For accounts under European (CySEC) or Australian (ASIC) regulation, leverage is capped at 1:30 for major forex pairs for retail clients. However, under entities like the one regulated by the FSC in Belize, XM offers much higher leverage, potentially reaching up to 1:1000. While this allows controlling larger positions with smaller capital, it significantly increases the risk of substantial losses and requires careful risk management.

XM (xm.com) Profile

Company Name XM Group operating under: Trading Point of Financial Instruments Ltd (CySEC license 120/10) Trading Point of Financial Instruments Pty Ltd (ASIC license 443670) Trading Point MENA Limited (DFSA license F003484) XM Global Limited (FSC license 000261/27)
Categories Forex Brokers, Cryptocurrency Brokers, Forex Rebates, Cryptocurrency Rebates
Primary Category Forex Brokers
Year Founded 2009
Headquarters Australia, Belize, Cyprus
Account Currency AUD, CHF, EUR, GBP, HUF, JPY, PLN, SGD, USD, ZAR
Client funds bank Investment Grade Banks
Support Languages Arabic, Chinese, English, Dutch, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Korean, Malay, Polish, Portuguese, Russian, Spanish, Thai, Turkish, Vietnamese, Bengali, Urdu, Czech, Swedish, Filipino
Funding Methods Bank Wire, China Union Pay, Credit/Debit Card, Neteller, Skrill
Financial Instruments Futures, Forex, Indices, Oil/Energies, Metals, Soft Commodities (coffee, sugar...)
Prohibited Countries Cuba, Iran, North Korea, Myanmar, Russia, Sudan, Syria, United States
24 hour support
Segregated Accounts
Islamic Accounts
Accepts Canadian clients
Accepts Japanese Clients
Non expiring demo
Trading API
Cent accounts
Negative balance protection
Social trading
Regulatory deposit insurance
Trailing stops
Bonuses
Interest on margin
Fixed spread
Variable spread

The XM profile on FxVerify offers a concise summary of the broker's key attributes. You can quickly find details like their founding year (2009), accepted countries, available account base currencies, customer support channels, and a full breakdown of deposit and withdrawal options.

XM (xm.com) Promotions

XM offers a couple of practical benefits that stand out. Eligible clients can get access to a Free VPS (Virtual Private Server) service, which is really handy if you rely on automated trading strategies (EAs) or need your platform running constantly. They also promote Zero Fees on Deposits & Withdrawals, meaning XM itself won't charge you for funding your account or taking money out.

Of course, for the VPS, you'll need to check the specific eligibility requirements, and keep in mind that while XM doesn't charge funding fees, your bank or payment provider might still impose their own charges. It is absolutely essential to read and fully understand these T&Cs on the official XM website before opting into any promotion.

XM (xm.com) User reviews

4.3
(205 )
Ranked 63 out of 1750 (Forex Brokers)
This rating is based on 172 reviews by users that proved they are real customers of this company. All reviews undergo significant human and technical moderation. Companies that get 30+ reviews by verified reviewers are scored only on their ratings by verified reviewers and get a green checkmark by their rating.

Newer user ratings have greater impact than older ratings and user ratings have no impact after 5+ years old. The more reviews a company receives, the higher the maximum possible aggregate user rating. After 100 reviews a company can receive the highest rating, which is an average of their user ratings.

Filter reviews:
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Account Types:
Sort:
We display the reviews we reject as spam or vote fraud. Not all rejected reviews are displayed, for example reviews advertising a website or service.

XM (xm.com) Cashback rebates

Cash back rebates are paid per round turn lot unless otherwise specified. 1 Lot = 100,000 base currency units traded.
  Micro Standard XM Zero Ultra Low
Forex$5.5 Per Lot$2.2 Per LotUp to $7.50 Per Lot
Oil / EnergiesUp to $37.50 Per LotUp to $34.08 Per LotUp to $37.50 Per Lot
MetalsGold Silver $5.50 Per LotGold Silver $2.2 Per LotGold $3.00 Per Lot
Silver $7.50 Per Lot
Shares / EquitiesUp to $37.50 Per LotUp to $34.08 Per LotUp to $37.50 Per Lot
IndicesUp to $37.50 Per LotUp to $34.08 Per LotUp to $37.50 Per Lot
Soft commodities (coffee,sugar...)Up to $37.50 Per LotUp to $34.08 Per LotUp to $37.50 Per Lot
CryptocurrenciesUp to $37.50 Per LotUp to $34.08 Per LotUp to $37.50 Per Lot
Payment Options
Direct to your XM MyWallet (2x weekly)
Cash back is credited directly to your XM MyWallet. Trading for Friday to Monday is credited the following Thursday. Trading for Tuesday to Thursday is credited the following Tuesday.
Monthly Cash Back - Real Time Reports
Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month. Real-time “reports” are posted on your profile dashboard: 1) for most MT4 accounts every 10 minutes; 2) for XM accounts every few hours; 3) and for all: MT5, Tickmill, IC Markets, IC Trading & EightCap accounts (Crypto transactions are not included in Real-time reports) once daily.
  Micro
Forex $5.5 Per Lot
Oil / Energies Up to $37.50 Per Lot
Metals Gold Silver $5.50 Per Lot
Shares / Equities Up to $37.50 Per Lot
Indices Up to $37.50 Per Lot
Soft commodities (coffee,sugar...) Up to $37.50 Per Lot
Cryptocurrencies Up to $37.50 Per Lot
Payment Options
Direct to your XM MyWallet (2x weekly)
Cash back is credited directly to your XM MyWallet. Trading for Friday to Monday is credited the following Thursday. Trading for Tuesday to Thursday is credited the following Tuesday.
Monthly Cash Back - Real Time Reports
Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month. Real-time “reports” are posted on your profile dashboard: 1) for most MT4 accounts every 10 minutes; 2) for XM accounts every few hours; 3) and for all: MT5, Tickmill, IC Markets, IC Trading & EightCap accounts (Crypto transactions are not included in Real-time reports) once daily.
  Standard
Forex $5.5 Per Lot
Oil / Energies Up to $37.50 Per Lot
Metals Gold Silver $5.50 Per Lot
Shares / Equities Up to $37.50 Per Lot
Indices Up to $37.50 Per Lot
Soft commodities (coffee,sugar...) Up to $37.50 Per Lot
Cryptocurrencies Up to $37.50 Per Lot
Payment Options
Direct to your XM MyWallet (2x weekly)
Cash back is credited directly to your XM MyWallet. Trading for Friday to Monday is credited the following Thursday. Trading for Tuesday to Thursday is credited the following Tuesday.
Monthly Cash Back - Real Time Reports
Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month. Real-time “reports” are posted on your profile dashboard: 1) for most MT4 accounts every 10 minutes; 2) for XM accounts every few hours; 3) and for all: MT5, Tickmill, IC Markets, IC Trading & EightCap accounts (Crypto transactions are not included in Real-time reports) once daily.
  XM Zero
Forex $2.2 Per Lot
Oil / Energies Up to $34.08 Per Lot
Metals Gold Silver $2.2 Per Lot
Shares / Equities Up to $34.08 Per Lot
Indices Up to $34.08 Per Lot
Soft commodities (coffee,sugar...) Up to $34.08 Per Lot
Cryptocurrencies Up to $34.08 Per Lot
Payment Options
Direct to your XM MyWallet (2x weekly)
Cash back is credited directly to your XM MyWallet. Trading for Friday to Monday is credited the following Thursday. Trading for Tuesday to Thursday is credited the following Tuesday.
Monthly Cash Back - Real Time Reports
Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month. Real-time “reports” are posted on your profile dashboard: 1) for most MT4 accounts every 10 minutes; 2) for XM accounts every few hours; 3) and for all: MT5, Tickmill, IC Markets, IC Trading & EightCap accounts (Crypto transactions are not included in Real-time reports) once daily.
  Ultra Low
Forex Up to $7.50 Per Lot
Oil / Energies Up to $37.50 Per Lot
Metals Gold $3.00 Per Lot
Silver $7.50 Per Lot
Shares / Equities Up to $37.50 Per Lot
Indices Up to $37.50 Per Lot
Soft commodities (coffee,sugar...) Up to $37.50 Per Lot
Cryptocurrencies Up to $37.50 Per Lot
Payment Options
Direct to your XM MyWallet (2x weekly)
Cash back is credited directly to your XM MyWallet. Trading for Friday to Monday is credited the following Thursday. Trading for Tuesday to Thursday is credited the following Tuesday.
Monthly Cash Back - Real Time Reports
Payments are credited and sent automatically by the 12th day of the month for trades where cashback has been accumulated between the first and the last day of the previous month. Real-time “reports” are posted on your profile dashboard: 1) for most MT4 accounts every 10 minutes; 2) for XM accounts every few hours; 3) and for all: MT5, Tickmill, IC Markets, IC Trading & EightCap accounts (Crypto transactions are not included in Real-time reports) once daily.

Notes

Account availability depends on the XM entity with which the client trades, as well as the instruments being traded.
Rebate clients are not eligible to receive bonuses.

Crypto-CFD trading is subject to regulatory oversight in Thailand. Residents should stay informed about any updates or changes in regulations that may affect their trading activities.

Rebates are not paid for:

  • Accounts registered with: ASIC, CySEC, Dubai DFSA entities
  • Residents of Australia, Argentina, Belgium, Latvia, Portugal or Spain
  • Existing EEA/UK XM clients not currently under Clear Markets.
Rebates are not paid on: 1) trades held less than 5 minutes; 2) the percentage of a trade using bonus money as margin; 3) hedged positions.

Non-USD rebates are converted to USD.

Non-forex instruments: https://www.xm.com/equity-indices?gid=320

What are XM (xm.com) rebates?

XM (xm.com) rebates are a portion of the transaction cost that is paid back to the client on each trade, resulting in a lower spread and improved win ratio. For example, if your rebate is 1 pip and the spread is 3 pips, then your net spread is only 2 pips.

Many traders initially believe there must be higher costs elsewhere to compensate, however they soon find there is no catch and Forex rebates truly reduce the costs of the transaction and improve their bottom line.

How do XM (xm.com) rebates work?

When you link a new or existing forex trading account to us the broker pays us part of their spread or commission profit for every trade you make as compensation for referring a customer to them. We then share the majority of our revenue with you, paying you a cash rebate for each trade you make as thank you for signing up with us.

Unlike some of our competitors your spreads will never increase as a result of using our service! The only difference is: as our client you earn extra cash per trade, making trading through us more profitable than opening direct with the broker. Founded in 2007, we are the original and leading provider of forex rebates. We pay rebates to over 100,000 accounts and traders love our helpful 24 hour live chat, telephone and email support.

How much XM (xm.com) rebates can I earn?

Use our forex rebate calculator to estimate your XM (xm.com) rebate earnings:

 
You must enter a valid number

User Reviews Widgets

Choose a widget type that suits your preference and proceed to configure it using the 'Widget creator'

Widgets Creator

Language
Theme
Size
(%)
Embed Code Add the following code to your website to display the widget.
Copy