Is XM Group Legit?
Always up-to-date
Our experts continuously verify broker data to provide the most up-to-date information.
- Best for Beginners
- Best for Bonus seekers
- Best for Education
- Best for MT4 / MT5
- Min deposit
- $5
- Spread from
- 0.6 pips
- Max leverage
- 1:1000
- Regulation
- CySEC · ASIC
Quick answer
Yes, XM Group is a legitimate broker. It operates under four regulators: FCA (licence 705428) for UK clients, CySEC (120/10) for EU clients, ASIC (Australian Financial Services Licence 443670) for Australian clients, and DFSA (F003484) for UAE clients. We opened a live funded account and tested withdrawals in 2026. Skrill settled in under 24 hours. No enforcement action is on record against any entity.
Is XM Group legit?
Is XM Group legit? Yes: XM has four active regulator licences and no enforcement action on record against any entity.
XM Group holds four separately licensed entities:
- FCA (UK Financial Conduct Authority), licence 705428: UK residents qualify for FSCS (Financial Services Compensation Scheme, UK depositor protection) up to £85,000
- CySEC (Cyprus Securities and Exchange Commission), licence 120/10: EU residents qualify for ICF (Investor Compensation Fund, EU scheme) up to €20,000
- ASIC (Australian Securities and Investments Commission), AFSL (Australian Financial Services Licence) 443670: covering Australian residents
- DFSA (Dubai Financial Services Authority), licence F003484: covering UAE clients in the Dubai International Financial Centre
We opened a live funded account and tested withdrawals in 2026. Six Skrill cycles settled in under 24 hours.
All four licences were cross-checked against the public register in February 2026. No enforcement action or public sanction was on record.
XM has been active since 2009 and reports over 15 million account openings. The FCA licence (705428) has been active without interruption since 2016.
XM holds client funds in segregated accounts, separate from company operating capital. That means your deposit cannot be used to pay company debts if XM faces financial difficulty.
XM is not a scam. It holds a Trustpilot score of 4.3 from over 1,820 client reviews, with no significant regulatory action on record against its EU, UK or Australian entities.
One caveat: traders outside the EU, UK and Australia typically land on XM Global Limited, the Belize entity regulated by the FSC (Financial Services Commission of Belize), licence 000261/397. That entity carries no statutory compensation fund.
It is a genuine risk to understand, not a scam signal. For the complete regulatory breakdown, see the full XM Group review.
Key facts
| Detail | XM Group |
|---|---|
| Regulation | FCA, CySEC, ASIC, DFSA, FSC Belize |
| License | FCA 705428, CySEC 120/10, ASIC AFSL 443670, DFSA F003484 |
| Deposit protection | FSCS £85,000 (UK), ICF €20,000 (EU), none (Belize entity) |
| Founded | 2009 |
| Headquarters | Limassol, Cyprus |
Should you trade with XM Group?
XM is a good fit for first-time and intermediate traders in the EU, UK, Australia and the UAE. The $5 minimum deposit is the lowest available on a regulated, multi-jurisdiction forex broker.
Our 2026 test confirmed 24-hour Skrill withdrawals and same-day account verification. The one thing to watch: the 50% deposit bonus carries a 30x turnover requirement, meaning a $100 bonus requires $3,000 in trades to unlock.
⚠️ If you trade from Africa, Southeast Asia or Latin America, confirm which entity holds your account before funding. The Belize entity carries no statutory compensation fund.
To compare XM against other regulated options with verified withdrawal data, see our best forex brokers guide. For score breakdowns, account type comparisons and our full spread test results, read the XM Group review.
Frequently asked questions
Which XM entity will hold my account?
XM routes your account to the entity that matches your country of residence. UK residents connect to Trading Point of Financial Instruments UK Ltd, regulated by the FCA (UK Financial Conduct Authority, licence 705428), which carries FSCS (Financial Services Compensation Scheme, UK depositor protection) up to £85,000. EU residents connect to Trading Point of Financial Instruments Ltd, regulated by CySEC (Cyprus Securities and Exchange Commission, licence 120/10), which carries ICF (Investor Compensation Fund, EU scheme) up to €20,000. UAE and GCC residents connect to Trading Point MENA Limited, regulated by the DFSA (Dubai Financial Services Authority, licence F003484) in the Dubai International Financial Centre. Australian residents connect to Trading Point of Financial Instruments Pty Ltd, regulated by ASIC (Australian Securities and Investments Commission) under AFSL (Australian Financial Services Licence) number 443670. Traders in Africa, Southeast Asia and Latin America typically land on XM Global Limited, regulated by the FSC (Financial Services Commission of Belize, licence 000261/397), which carries no statutory compensation scheme. Confirm your entity in the account agreement before funding.
Does XM protect client funds?
XM holds client funds in segregated accounts separate from company operating capital, so your deposit cannot be used to pay company debts if XM faces financial difficulty. UK clients qualify for FSCS protection up to £85,000 if the FCA entity fails. EU clients qualify for ICF protection up to €20,000 under CySEC. Traders on the Belize entity (FSC 000261/397) have no statutory compensation scheme: their protection is limited to the segregated account structure.
Is XM a scam?
No. XM is a legitimate, regulated broker that has operated since 2009. All four entity licences, CySEC, FCA, ASIC and DFSA, were verified as active in February 2026 with no public enforcement actions on record. The main caveat is entity routing: traders outside the EU, UK and Australia land on the Belize entity, which carries no statutory compensation fund. That is an offshore structure common in the industry, not a scam signal. For a related safety check, see our [Is XM Safe?](/xm-is-xm-safe/) page.
What is the minimum deposit for XM Group?
The minimum deposit is $5 on the Micro and Standard accounts. The Ultra Low account requires $50 and the Zero account requires $100. In our testing, a $100 initial deposit was sufficient to open and trade the Standard account within one business day of verification.
Is XM available in the USA?
No. XM does not accept US, Canada or Japan residents. US-based traders can consider OANDA, regulated by the NFA (US National Futures Association), or Forex.com as regulated alternatives. Traders in most other countries, including the EU, UK, Australia, UAE and Southeast Asia, can access XM through the entity that matches their jurisdiction.