XM Broker Review 2026
XM is a globally regulated forex and CFD broker serving traders in over 190 countries. This review covers their trading conditions, regulation, and suitability for automated trading.
Regulation
XM operates under multiple regulatory bodies:
- CySEC (Cyprus) — License No. 120/10
- ASIC (Australia) — License No. 443670
- DFSA (Dubai) — License No. F003484
- FSC (Belize) — License No. 000261/4
Multi-jurisdictional regulation provides strong client protection including segregated funds and negative balance protection.
Account Types
| Feature | Micro | Standard | Ultra Low |
|---|---|---|---|
| Min Deposit | $5 | $5 | $5 |
| Spread From | 1 pip | 1 pip | 0.6 pips |
| Commission | None | None | None |
| Contract Size | 1,000 | 100,000 | 100,000 |
| Leverage | Up to 1:1000 | Up to 1:1000 | Up to 1:1000 |
| Min Lot | 0.01 (MT4) | 0.01 | 0.01 |
Spreads
XM offers competitive spreads across major pairs:
| Pair | Typical Spread |
|---|---|
| EUR/USD | 1.6 pips (Standard) |
| GBP/USD | 1.9 pips |
| USD/JPY | 1.5 pips |
| AUD/USD | 1.6 pips |
The Ultra Low account offers spreads from 0.6 pips with no commission — a strong option for EA trading where spread costs matter.
Platforms
- MetaTrader 4 — Industry standard, best for EAs
- MetaTrader 5 — Newer platform with more features
- XM App — Mobile trading
MT4 is fully supported and recommended for running Expert Advisors.
Key Features
For EA Traders:
- No restrictions on automated trading
- Free VPS for qualifying accounts (5+ lots traded per month)
- All order types supported (market, pending, stop, limit)
- Fast execution with low slippage
- Supports WebRequest for EA verification APIs
General:
- $5 minimum deposit
- No deposit fees
- Multiple payment methods
- 24/5 multilingual support
- Free educational resources
- Demo accounts available
Pros
- Very low minimum deposit ($5)
- Strong regulation across multiple jurisdictions
- No restrictions on EA trading
- Competitive spreads on Ultra Low accounts
- Free VPS available for active traders
- Negative balance protection
- Fast execution
Cons
- Standard account spreads are wider than some competitors
- Limited cryptocurrency offerings
- Inactivity fee after 90 days
Verdict
XM is a solid choice for forex traders, especially those using Expert Advisors. The combination of low minimum deposit, multiple account types, strong regulation, and EA-friendly policies makes it accessible for both beginners and automated trading strategies.
Affiliate Disclosure: This review contains affiliate links. We are an XM Introducing Broker and receive commissions when you open an account through our links. This does not affect the price you pay. We strive to provide honest, accurate reviews regardless of our affiliate relationship.
Risk Warning: Trading CFDs/Forex involves significant risk. 74.12% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.