XM review: is it safe for gold trading?
Founded 2009 · Limassol, Cyprus
- Score (other countries)
- 40 · D
- Best score
- 79 · Australia
- Tier 1–2 for you in
- 3 / 22 countries
- Trader Voice
- 15
- Platforms
- MT4 · MT5 · Own
On this page
Is XM safe?
XM is a 17-year-old broker headquartered in Limassol, Cyprus. The group has 4 regulated companies (CySEC, ASIC, DFSA, FSC). How safe it is for you depends on which one opens your account: in 3 of the 22 countries we cover that is a Tier 1–2 regulated company. Elsewhere it is XM Global Ltd (FSC, Tier 4 · light offshore).
Regulation and licences
| Company | Regulator | Regulator tier | Licence | Retail clients |
|---|---|---|---|---|
| Trading Point of Financial Instruments Ltd | Cyprus Securities and Exchange Commission ↗ Cyprus (EU) | Tier 2 · strong | Pending check | Yes |
| Trading Point of Financial Instruments Pty Ltd | Australian Securities and Investments Commission ↗ Australia | Tier 1 · strictest | Pending check | Yes |
| Trading Point MENA Ltd | Dubai Financial Services Authority ↗ UAE (DIFC) | Tier 2 · strong | Pending check | Yes |
| XM Global Ltd | Financial Services Commission ↗ Belize | Tier 4 · light offshore | Pending check | Yes |
Each regulator name links to its own public register. Search the exact company name from your account agreement there before you deposit. How to verify a licence
Which company holds your account
XM assigns clients to different companies depending on where they live. This is the company, regulator and score you would get in each country we cover.
| If you live in | Your account is held by | Regulator | Score | Rank |
|---|---|---|---|---|
| Other countries | XM Global Ltd | FSC T4 | D40 | 16 / 18 |
| United States | Not accepted | — | — | — |
| United Kingdom | Not accepted | — | — | — |
| EU / EEA | Trading Point of Financial Instruments Ltd | CySEC T2 | B+74 | 14 / 20 |
| Australia | Trading Point of Financial Instruments Pty Ltd | ASIC T1 | A79 | 13 / 20 |
| Canada | XM Global Ltd | FSC T4 | D40 | 18 / 20 |
| Singapore | XM Global Ltd | FSC T4 | D40 | 18 / 20 |
| Malaysia | XM Global Ltd | FSC T4 | D40 | 16 / 18 |
| Indonesia | XM Global Ltd | FSC T4 | D40 | 17 / 19 |
| Thailand | XM Global Ltd | FSC T4 | D40 | 16 / 18 |
| Vietnam | XM Global Ltd | FSC T4 | D40 | 16 / 18 |
| Philippines | XM Global Ltd | FSC T4 | D40 | 16 / 18 |
| India | XM Global Ltd | FSC T4 | D40 | 16 / 18 |
| Japan | XM Global Ltd | FSC T4 | D40 | 19 / 21 |
| Hong Kong | XM Global Ltd | FSC T4 | D40 | 17 / 19 |
| UAE | Trading Point MENA Ltd | DFSA T2 | B59 | 6 / 18 |
| South Africa | XM Global Ltd | FSC T4 | D40 | 16 / 18 |
| Kenya | XM Global Ltd | FSC T4 | D40 | 16 / 18 |
| Nigeria | XM Global Ltd | FSC T4 | D40 | 16 / 18 |
| South Korea | XM Global Ltd | FSC T4 | D40 | 16 / 18 |
| Turkey | XM Global Ltd | FSC T4 | D40 | 16 / 18 |
| Mongolia | XM Global Ltd | FSC T4 | D40 | 16 / 18 |
| Brazil | XM Global Ltd | FSC T4 | D40 | 16 / 18 |
Scores are provisional until our cost, news-spread and withdrawal tests are in. T1 = strictest regulator tier, T5 = company registration only. Licence details pending register check.
Trading gold with XM
- Platforms
- MT4, MT5, Own platform
- Minimum gold order
- 0.01 lot (1 oz)
- Swap-free account
- Yes
- Minimum deposit
- $5
- Round-trip cost, 1 lot XAUUSD
- Not measured yet
- Spread widening at NFP
- Not measured yet
- Withdrawal time
- Not measured yet
- Overnight swap, 1 lot long
- Not measured yet
Cost, news-spread and withdrawal tests run on live accounts from our gold cost lab. Results appear here as each broker is tested. Gold pip value calculator · Margin calculator
Fees, deposits and withdrawals
What the broker publishes about deposits, withdrawals and fees. These are the broker’s own terms, collected from independent reviews and the broker’s pages, not our lab measurements.
- Minimum deposit
- 5 USD
- Inactivity fee
- 10 USD per month after 90 days without activity
- Deposit fee
- None from broker; XM covers bank wire fees on deposits above 200 USD
- Withdrawal fee
- None, except 15 USD on bank wire withdrawals under 200 USD
- Withdrawal time
- Not stated by the reviewer; depends on method
- Account types
- Ultra Low Micro · Ultra Low Standard · XM Zero (commission)
- Raw account commission
- 3.50 USD per side per 100k on XM Zero (7 USD round turn)
- Payment methods
- Bank wire · Visa/Mastercard · Skrill · Neteller · Local methods by region
- Trustpilot has suspended XM's TrustScore for breaching its review guidelines and says it removed fake reviews
- Profits withheld over alleged bonus abuse or arbitrage is a recurring complaint
Checked 2026-11-05. Terms change; confirm on the broker’s site before you deposit.
Regulatory record
Regulator order2025 · SEC Philippines · Trading Point Holdings Ltd, XM Global Ltd
Cease-and-desist order: stop soliciting Filipino investors without a licence; bank accounts and assets frozen
Source ↗Fine2013 · CySEC · Trading Point of Financial Instruments Ltd
EUR 5,000 fine over client-fund safeguarding arrangements and AML procedures
Source ↗
Fines and regulator orders in the last five years reduce the protection score: −4 each, up to −12. Self-reported breaches that were compensated, and public warnings, are shown but not scored.
Score breakdown
For clients in countries without a local licence (account held by XM Global Ltd): 40 / 100 · Measured so far: 45 of 100 weight points
Protection you actually get · 35%
30- Your entity’s regulator (FSC) is Tier 4 (light offshore)+16
- Negative balance protection promised by the broker only+6
- Holds at least one Tier 1 licence in the group+6
- 17 years in business+6
- Regulatory fines or orders in the last five years (1)-4
Gold trading cost · 25%
Not measured yetExecution under stress · 15%
Not measured yetMoney in and out · 15%
Not measured yetPlatforms and gold conditions · 10%
75- MetaTrader 4+20
- MetaTrader 5+20
- Own platform+5
- 0.01-lot minimum order+15
- Swap-free account available+15
Pros and cons
Pros
- Retail clients can be served by Tier 1 regulated companies (ASIC).
- In 3 of the 22 countries we cover, your account would sit with a Tier 1–2 regulated company.
- Offers both MT4 and MT5.
- Swap-free account available.
- 17 years in business.
Cons
- Licence details come from the broker’s own pages; our register check is not finished.
- Clients outside its licensed countries are onboarded to XM Global Ltd (FSC), a light offshore regulator.
What traders say
The Trader Voice score sits beside our expert score and is never mixed into it. It combines public review scores with ratings from our own readers.
Trader Voice
15
Expert score (other countries): 40
Public reviews
15
Trustpilot 2.5/5 from 3,077 reviews, 57% one-star
Trustpilot has suspended this score for breaching its review rules. We use the star breakdown and take off 10 points.
Source, 2026-11-05 ↗Our readers
No reader ratings yet. Be the first below.
What reviewers praise
- Long track record
- Low minimum deposit
- Many languages supported
What reviewers complain about
- Withdrawals delayed or rejected
- Profits cancelled over alleged bonus abuse or arbitrage
- Support doesn't explain decisions
- Stop-loss and fill disputes
…
Trustpilot scores reflect who a broker invites to review, so we temper them with the share of one-star reviews. Reader ratings count after an account is 72 hours old; one rating per account per broker. Full methodology and data rules
Trader evidence
What readers report from their own accounts: how long withdrawals took, complaints whose evidence our editors checked, and corrections to our data. Nobody can pay to remove a complaint.
Median withdrawal time
—
No reports yet
Arrived within 24 hours
—
Verified complaints
0
0 resolved
…
Questions
Is XM safe for gold trading?
XM is a 17-year-old broker headquartered in Limassol, Cyprus. The group has 4 regulated companies (CySEC, ASIC, DFSA, FSC). How safe it is for you depends on which one opens your account: in 3 of the 22 countries we cover that is a Tier 1–2 regulated company. Elsewhere it is XM Global Ltd (FSC, Tier 4 · light offshore).
Is XM regulated?
Yes. Trading Point of Financial Instruments Ltd is regulated by Cyprus Securities and Exchange Commission (Cyprus (EU)). Trading Point of Financial Instruments Pty Ltd is regulated by Australian Securities and Investments Commission (Australia). Trading Point MENA Ltd is regulated by Dubai Financial Services Authority (UAE (DIFC)). XM Global Ltd is regulated by Financial Services Commission (Belize). These details are from the broker’s legal pages and our register check is still pending.
Which countries does XM not accept?
Of the countries we cover, XM does not accept residents of United States, United Kingdom.
Does XM offer MT4, MT5 or TradingView for gold?
XM offers MT4, MT5, its own platform. The minimum gold order is 0.01 lot.
Does XM have a swap-free account?
Yes. Check the account terms: many swap-free accounts charge an admin fee once a position is held for a few days.
What is the XM minimum deposit?
$5 on the standard account, according to the broker.
Alternatives
See also
Best brokers by country
Data checked: November 2026 · Sources: [1]
CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. Ratings are our opinion, based on the data and rules described in the methodology. They are not investment advice.