Founded 2009
XM review: the USD 5 minimum, Ultra Low spreads and live education
You will meet XM often in Africa, and this XM review explains why: a USD 5 minimum and live trading rooms that run nearly around the clock in many languages. Founded in 2009 as the retail brand of Trading Point Group, XM leads on education, though its default Standard account is costly.
Updated . Checked against the broker's own pages, regulator registers and published reviews.
XM Standard, Ultra Low and Zero accounts
Choosing your account well is most of the job at XM. Standard averages 2.0 pips on EUR/USD from a floor of 1.6, or about USD 20 per lot, and it is where many new clients end up by default. See the XM minimum deposit page for account floors, and is XM legit for licences and ownership.
Ultra Low averages 1.1 pips from a 0.8 floor with no commission, about USD 11 per lot, and it also supports micro contracts.
Zero charges USD 3.50 per side and starts at 0.7 pips all-in when the raw spread is zero pricing data. Micro contracts are not available there.
A trader closing 10 lots a month saves about USD 90 by choosing Ultra Low over Standard. See XM fees by account for the sums at other sizes.
| Account | Minimum | Spread from | Commission |
|---|---|---|---|
| Standard | USD 5 | 1.6 pips | None |
| Ultra Low | 0.8 pips | None | |
| Zero | 0.0 pips | USD 3.50 per side |
Picked an account? Follow these XM sign-up steps, and take care at the account choice.
XM minimum deposit and inactivity fee
XM's USD 5 minimum is among the lowest we track. It lets you open a live account with very little, though USD 5 will not hold a real position for long.
Deposit at least USD 50 if you plan to trade a 0.01 lot of EUR/USD with room for normal market swings. International wires are free on XM's side.
Dormancy is where XM takes money back. A USD 10 monthly fee starts after 90 days with no trading, deposits, withdrawals, transfers or new account registrations.
A USD 50 balance left alone would be gone in 5 months after that point. If you stop trading, withdraw the balance. Convert the entry sum with our currency converter first.
XM live rooms and Tradepedia
Education is XM's clearest edge. Live trading rooms run at nearly every hour across several languages, so a trader in Lagos can watch markets with a presenter during the London session. Few rivals come close to that level of live coverage.
The Tradepedia video course tracks your progress, a welcome feature that Pepperstone and IC Markets lack. Reuters headlines and Trading Central also sit on the trade ticket, so research stays on the same screen as your order.
Newer traders should use all of this on a demo account first and move across to small live trades after that.
- Swap-free option
- Demo account
- Copy trading
XM web platform, app and MetaTrader
XM offers a new proprietary web platform, a matching mobile app, and MT4 and MT5. TradingView's charting library powers the web and mobile charts, with 100 indicators and drag-to-modify orders. TradingView itself is not offered as a standalone platform, and there is no cTrader or desktop app from XM.
The mobile app is one of the better organised on our site, with five tabs and research that opens inside the app. MT4 and MT5 stay available for expert advisors. The list of MT5 brokers compares XM with brokers carrying more forex pairs, in case your strategy needs exotic crosses or wider symbol coverage.
Which XM entity opens your account?
Your country decides your XM company, and that company decides your product list and leverage. Leverage runs from 30:1 at the EU entity to 1000:1 at XM Global.
The EU entity has no crypto CFDs, copy trading or Shares account. Trading Point Group, the parent, holds CySEC cover in Cyprus, and ASIC, CFTC and FCA cover through its Trading.com brand.
Independent reviews count 4 Tier-1, 3 Tier-2 and 3 Tier-4 licences in total. Most African residents will deal with an offshore arm, so those Tier-1 names offer no direct cover.
XM is also named on India's RBI Alert List and in a 2024 Philippine SEC advisory, which affects those countries directly and tells you something about how regulators treat offshore marketing. XM reports that about 75% of retail CFD accounts lose money.
XM forex pairs and 1,583 CFDs
XM's list has 1,583 symbols on MT5, all of them CFDs: share CFDs, equity and thematic indices, ETFs, energies, metals, agricultural commodities and selected futures, plus 54 forex pairs. That forex list is thin against the 78 at Exness, and most other brokers we track offer more.
A separate Shares account lets you buy real shares with no leverage, but it needs USD 10,000 and is limited to offshore entities. Crypto CFDs are available outside the EU, with 12 listed.
For a trader focused on majors, gold and a few share CFDs, this is enough. Exotic-pair traders should test their chosen cross on a demo first.
- Licences by tier 1, 2, 3, 4
- 4, 3, 0, 1
- Tradeable symbols
- 1583
- Forex pairs
- 54
- Listed company
- No
- Bank
- No
- Android app
- Yes
- iOS app
- Yes
- Chart indicators
- 100
- Trading Central
- Yes
- Autochartist
- No
- Webinars
- Yes
- Crypto CFDs
- Yes
- US shares
- Yes
- Global shares
- Yes
How XM stacks up against its rivals
XM beats its rivals on entry and on education, and it trails them on local licensing. Exness and HFM both hold paperwork in Kenya and South Africa, while XM's African clients will mostly sit offshore. Deriv takes mobile money from USD 5, which many Ghanaian and Kenyan traders will find more convenient than a card.
The direct comparisons below show every figure side by side. If you plan to trade for years, cost matters more than entry, so check the all-in numbers as well as the first deposit.
Is XM a good broker for you?
The finding of this XM review is that it suits learners best. A USD 5 start, live rooms and tracked courses create a real path for a new trader, as long as you skip Standard and open Ultra Low. Experienced MetaTrader users can also use Zero at about 0.7 pips.
Serious cost-focused traders will find lower totals at raw-spread brokers, and anyone who values a local licence should look at Exness or HFM in Kenya and South Africa. Our full forex broker table ranks them on the same measures.
- Minimum deposit
- USD 5
- Max leverage
- 1:1000
- EUR/USD average
- 1.1 pips
- Platforms
- 2
- Founded
- 2009
Where XM is strong
- USD 5 listed minimum deposit
- Live trading rooms running across time zones and languages
- Reuters headlines and Trading Central on the trade ticket
- Ultra Low account at 1.1 pips with no commission
- Tradepedia video course that tracks your progress
Where it falls short
- Standard averages 2.0 pips on EUR/USD
- USD 10 monthly inactivity fee after 90 days
- Only 54 forex pairs, and the 1,583 symbols are all CFDs
- Named on the RBI Alert List and in a 2024 Philippine SEC advisory
New to XM? Common questions
What is the XM minimum deposit?
XM lists USD 5, one of the lowest entries we track. Plan on at least USD 50 to hold a 0.01 lot of EUR/USD through normal market swings without a margin call.
Which XM account has the lowest cost?
Zero starts at about 0.7 pips all-in when the raw spread is zero, with USD 7 commission per round turn. Ultra Low is the cheapest route with no commission, averaging 1.1 pips. Standard averages 2.0 pips and costs the most.
Does XM charge an inactivity fee?
Yes. XM charges USD 10 a month once an account has sat dormant for over 90 days. Dormant means no trades, deposits, withdrawals, transfers or new registrations, so an idle small balance disappears within months.
Is XM regulated?
XM's parent, Trading Point Group, holds CySEC cover in Cyprus and further licences through its Trading.com brand. Most African residents sit under an offshore XM company, with far lighter protection, so read your agreement before you deposit.
What leverage does XM offer?
Leverage runs from 30:1 at the EU entity to 1000:1 at XM Global. Your country decides which applies. High leverage raises the speed at which losses reach your margin, so size trades carefully with a calculator first.