One of the lowest minimum deposits on this list; large global client base and a long-running CySEC licence.
| Regulated entity | Trading Point of Financial Instruments Ltd |
|---|---|
| Regulation | CySEC No. 120/10 + FCA-licensed (FRN unconfirmed) + FSA Seychelles No. SD010 |
| Other Tier-1 regulators | ASIC, DFSA |
| Founded | 2009 |
| Headquarters | Limassol, Cyprus |
| Minimum deposit | $5 |
| Avg. spread (EUR/USD) | 1.1 pips |
| Platforms | MT4, MT5 |
| Instruments | 1,000+ across forex, stocks, indices, commodities, metals, crypto |
See XM's full regulation dossier → · How to check whether a forex broker is regulated
Derived from the same confirmed data behind this broker's score (regulation, cost, platforms, deposit minimum) -- not a separate editorial judgment.
Via its FCA-regulated UK entity, eligible clients are covered by the UK's Financial Services Compensation Scheme (FSCS) up to £85,000 per person if the firm fails. Via its CySEC-regulated Cyprus entity, eligible clients are covered by Cyprus's Investor Compensation Fund (ICF) up to €20,000 per person if the firm fails. Via its Seychelles FSA-licensed entity, there is no statutory investor compensation scheme -- if that entity fails, there is no guaranteed fund to recover client money from.
Beyond the headline spread and minimum deposit above. Where our research hasn't independently confirmed a specific detail, we say so rather than guess -- verify directly with the broker before relying on it.
| Account types | Micro (minimum $5, micro lots), Standard (standard lots), Ultra Low (available in Micro and Standard variants, spreads from 0.6 pips, zero commission), Zero (raw spreads from 0.0 pips plus commission), and Shares (direct share trading, per-share commission, no leverage). Islamic/swap-free versions are available across account types. One source cites an unusually high $10,000 minimum specifically for a "Shares" account variant, which wasn't cross-verified and conflicts with XM's typically low minimums elsewhere -- treat with caution. |
|---|---|
| Execution model | More recent independent sources describe XM as operating a market-maker/dealing-desk model on most account types, with commission-free pricing built into the spread; older material describing it as no-dealing-desk appears to reflect outdated positioning rather than current practice. |
| Withdrawals & deposits | No XM-side deposit fees. Minimum deposit $5; minimum withdrawal $5 (with a possible exception on the Shares account noted above, unverified). Card withdrawals take 1-3 business days, wire 1-4 business days, Skrill within 1 business day, and other e-wallets often within about an hour. |
| Overnight financing (swap) | Standard overnight swap is applied at daily rollover (reported at 17:00 New York time), with direction and size depending on the interest-rate differential between the two currencies in a pair. Islamic/swap-free accounts are available and don't charge the daily swap. |
| Currency conversion cost | Applied automatically when trading an instrument denominated in a currency different from the account's base currency, described only as a "variable markup spread" with no specific percentage found. |
| Inactivity fee | A $15 one-off maintenance fee after 90 days of inactivity, followed by an ongoing $5/month fee if the account remains inactive thereafter. |
| Customer service | Described as available 24 hours a day, 5 days a week via live chat, phone and email. Reviewer commentary found in this research pass was broadly positive, though a specific Trustpilot score or detailed complaint breakdown wasn't located. |
| Mobile experience | Apple App Store rating of 4.7/5 from 385 reviews; a Google Play rating wasn't found in this research pass. |
| Educational offering | Widely cited for an extensive educational program aimed at beginner-to-intermediate traders, including daily live education sessions delivered through its app, alongside standard webinars and articles. |
See how XM's spread cost compares across every researched broker → · Forex broker fees explained
Is XM regulated?
Yes -- CySEC No. 120/10 + FCA-licensed (FRN unconfirmed) + FSA Seychelles No. SD010. See the regulation dossier on this page for the underlying licence numbers.
Is my money protected if XM fails?
Via its FCA-regulated UK entity, eligible clients are covered by the UK's Financial Services Compensation Scheme (FSCS) up to £85,000 per person if the firm fails. Via its CySEC-regulated Cyprus entity, eligible clients are covered by Cyprus's Investor Compensation Fund (ICF) up to €20,000 per person if the firm fails. Via its Seychelles FSA-licensed entity, there is no statutory investor compensation scheme -- if that entity fails, there is no guaranteed fund to recover client money from.
What is the minimum deposit at XM?
Our research confirms a minimum deposit of $5.
What trading platforms does XM offer?
XM offers MT4, MT5.
What is XM's average spread on EUR/USD?
Our research confirms an average EUR/USD spread of 1.1 pips. See our cost calculator to compare this across every broker we've reviewed.
When was XM founded?
XM was founded in 2009.
How is XM's overall score calculated?
XM currently scores 3.42/5 overall under our disclosed nine-category methodology -- regulation & client protection 30%, trading costs 20%, non-trading fees 10%, platforms & tools 10%, execution/trading conditions 10%, product range 5%, deposits/withdrawals 5%, transparency 5%, track record 5%. It is not a comparison to other brokers and not based on hands-on testing.
Ratings as found via each site's published/indexed content, not our own testing and not independently re-verified against the live page -- treat as a snapshot and check the source before relying on it. Each card links to where we found it.
A dated log of when our own published data about this broker actually changed -- not a reconstructed history of what the broker itself did. See the full change log tool for every broker.
EU clients typically served under Central Bank of Ireland / MiFID passporting rather than a direct CySEC CIF licence -- worth confirming which entity applies to you.
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ThinkMarkets is a dual-headquartered (Melbourne/London) group founded in 2010 by brothers Nauman and Faizan Anees, in which each of its major-jurisdiction licences (FCA, ASIC, FSCA, DFSA, FMA) sits in a different legal entity from its CySEC-licensed European arm.