XMBROKER REVIEW 1TRADER · 2026

Checked against XM's official website · 9 Oct 2026

XM Review 2026: Is it any good? Who it's for

An in-depth XM broker review covering licensing, account types, real trading costs, deposits and withdrawals, and how to get cashback (a rebate) on every lot you trade.

By 1TRADER10 min readUpdated 9 Oct 2026

Open an XM account + get rebates Which account suits me?

Minimum deposit$5Standard / Ultra Low[2]

Users20M+as disclosed by XM[1]

Tradable instruments1,400+Forex · gold · indices · shares[1]

Spreads from0.8 piplowest stated by XM[1]

Max leverage1:1000Standard / Ultra Low[4]

Withdrawals auto-approved92.9%as disclosed by XM[1]

Disclosure: 1TRADER is an XM rebate partner. If you open an account through a link on this page, XM pays us a commission and we return part of it to you as a rebate, at no extra cost to you · Every figure has a reference number [1]–[6] linking to the sources at the end of the page.

Contents · 11 sections

01Summary
02Licensing
03Account types
04Costs & Rebates
05Platforms
06Funding
07Bonus vs rebate
08Who it's for
09Open an account
10FAQ
11Sources

01 Summary

XM Review Summary: Pros and Cons

XM is one of the best-known Forex brokers in the world, with more than 20 million users. Its strengths are that you can start trading with just $5 and XM charges no deposit or withdrawal fees, but spreads on the Standard account are not the lowest on the market.

4.4/ 5

Our verdict

XM suits beginners and anyone trading gold or Forex with a small account. If you trade often, the Ultra Low account plus a rebate gives a lower net cost (see section 04).

+ XM pros

Minimum deposit of just $5 on Standard and Ultra Low accounts
Standard / Ultra Low accounts have no commission
No deposit or withdrawal fees from XM, and every account has negative balance protection
Over 1,400 instruments, with an Islamic (swap-free) option
Supports MT4, MT5 and the XM app, with the website and support available in many languages
Open through 1TRADER for a rebate on every lot, e.g. $18/lot on gold

! Things to watch

Accounts are opened with XM Global (FSC Belize), which holds an offshore licence with less protection than a European licence
Average EURUSD spread on the Standard account is about 2.0 pip, which is wide
Ultra Low and Shares accounts are not eligible for bonuses
A monthly fee applies once an account is inactive for more than 90 days
The Shares account requires a $10,000 minimum deposit

02 Regulation

Is XM Safe? Licensing and Regulation

XM was founded in 2009 under Trading Point Holdings and operates through several group companies, each with a different licence. The key thing is to know which company your account is held with.

Accounts opened through 1TRADER are held with XM Global Limited, which is regulated by the Financial Services Commission (FSC) of Belize under the Securities Industry Act 2021, licence no. 8557558[1][2]

Other group companies are supervised by stricter regulators, such as CySEC (Europe) and DFSA (Dubai)[6], but the protection of those regulators does not extend to XM Global accounts.

XM Global Limited1TRADER clientsInternational clients · FSC Belize no. 8557558

Trading Point of Financial Instruments LtdClients in Europe (EEA) · CySEC Cyprus

Trading Point MENA LimitedMiddle East clients · DFSA Dubai

Trading Point of Financial Instruments Pty LtdAustralian clients · ASIC

Negative balance protection on every account, so you cannot lose more than your balance[2]
The client agreement has a client money and assets section (Client Money)[3]
Operating for more than 17 years (since 2009)[6]

Protection level of the licence behind XM Global accounts

Offshore (FSC)MediumHigh (CySEC/ASIC)

03 Account Types

XM Account Types: Which One Should You Choose?

XM has 3 main accounts: Standard, Ultra Low and Shares[2] Standard and Ultra Low also come in a Micro size (1 lot = 1,000 units). Answer the 2 questions below to see which account suits you.

QUIZ Which XM account suits you?

1. How much do you plan to start with?

Under $500$500 or more$10,000+, I want to own real shares

2. What matters more to you?

Bonus + high rebateLow spread · trade often

Choose your answers We'll suggest the right account for you instantly

Recommended

Standard (Micro)

Easy to manage risk on a small balance, as 1 lot = 1,000 units. Eligible for bonuses under current promotions.

Gold rebate $0.18 / Micro Lot

Recommended

Standard

The most popular account. Eligible for bonuses and earns the highest 1TRADER rebate of any account.

Gold rebate $18.00 / Lot

Recommended

Ultra Low (Micro)

Lower spreads and small lot sizes, good for frequent trading on a small balance (no bonus).

Gold rebate $0.09 / Micro Lot

Recommended

Ultra Low

Low spreads and swap-free on major FX pairs, gold and silver. Lowest net cost after rebate on EURUSD.

Gold rebate $9.00 / Lot

Recommended

Buy real shares with no leverage. $10,000 minimum deposit, commission charged per share.

Rebates by symbol

Beginners · small balance

Standard Micro

Minimum deposit: $5
1 Lot: 1,000 units
Commission: None
Leverage: Up to 1:1000
Max per order: 100 Lot
Bonus: Yes

Gold rebate / micro lot$0.18

Highest rebate

Popular · everyday trading

Standard

Minimum deposit: $5
1 Lot: 100,000 units
Commission: None
Leverage: Up to 1:1000
Max per order: 50 Lot
Bonus: Yes

Gold rebate / lot$18.00

Frequent trading · low spread

Ultra Low

Minimum deposit: $5
1 Lot: 100,000 / 1,000
Commission: None
Leverage: Up to 1:1000
Swap-free: Major FX/gold
Bonus: No

Gold rebate / lot$9.00

Real share investing

Minimum deposit: $10,000
1 Lot: 1 share
Commission: Yes
Leverage: None (1:1)
Spread: Market
Bonus: No

Rebatesby symbol

Minimum deposits and account types per xm.com[2] · Contract size, leverage, max order size, bonus and swap-free per account data as of 24 Sep 2026[4] · Maximum leverage falls as your account balance grows · See rebate rates for all 1,743 symbols on the XM rebate page

04 Trading Cost

XM Trading Costs After Rebates

Standard and Ultra Low accounts charge no commission, so the main cost is the Spread. A rebate returns part of it every time you trade, lowering your net cost per lot.

Real cost per lot · EURUSD

Average spread: Standard 2.0 pips / Ultra Low 1.1 pips[5] (1 pip = $10 per lot)

StandardSpread $20.00

Net $11.90Rebate $8.10

Ultra LowSpread $11.00

$7.85$3.15

Net cost you actually payAmount returned as rebate

EURUSD: Ultra Low is about $4.05 cheaper per lot after the rebate

Rebate per lot on popular symbols

Paid automatically every day · Micro accounts earn 1/100 per micro lot

Symbol	STANDARD	ULTRA LOW
GOLDGold	$18.00	$9.00
BTCUSDBitcoin	$13.50	$4.73
GBPUSDPound	$9.00	$3.15
EURUSDEuro	$8.10	$3.15
USDJPYYen	$8.10	$2.70
OILCashOil	$1.94	$1.08
US30CashDow Jones index	$1.67	$1.11

On rebate rates alone, the Standard account returns more, but Standard spreads are almost twice as wide. After the rebate, Ultra Low still costs less per lot on EURUSD. If you want bonuses or mainly trade gold, the Standard account earns up to $18/lot on gold, so it is still worth a look.

Spreads are averages collected by ForexBrokers.com (4 Sep 2026). Actual spreads vary with time of day and market conditions.

05 Platforms

XM Trading Platforms

Available on desktop, web browser and mobile.

MT4

MetaTrader 4

The popular, easy-to-use platform with a huge choice of EAs and indicators. Well suited to Forex and gold.

Best for: Beginners · EA users

MT5

MetaTrader 5

More timeframes and tools than MT4, and a wider range of instruments, including shares and indices.

Best for: Multi-asset trading

XM App

XM's mobile app: trade, deposit, withdraw and manage your account in one app.

Best for: Mobile trading

06 Deposit & Withdrawal

XM Deposits and Withdrawals

Deposit and withdraw in the Members Area or the XM app. The available methods (such as bank transfer, cards and e-wallets) depend on your account's country.

XM feesFreeon deposits and withdrawals[1] (your bank or provider may charge its own fees)

Withdrawals auto-approved92.9%as disclosed by XM[1]

Minimum deposit$5Standard / Ultra Low[2]

Processing timeVariese-wallets are usually faster than bank transfers

Good to know: You must verify your identity (KYC) with a government-issued photo ID and proof of address before withdrawing. The name on your bank account must match your XM account, and if you have a bonus, withdrawals reduce it proportionally.

07 Bonus vs Rebate

XM Bonus vs Rebate: What's the Difference?

Many people mix these up. The key difference is whether you can withdraw it as cash.

Compare	XM bonus	1TRADER rebate
Withdrawable as cash	✕The bonus itself cannot be withdrawn; it can only be used as margin	✓Withdrawable as real cashback
When you get it	Depends on current promotions; type and amount can change	On every trade, win or lose · paid automatically every day
Eligible accounts	Standard only (including Micro)	All accounts: Standard, Micro, Ultra Low, Shares
When you withdraw	Bonus is reduced proportionally	✓Rebate is not affected
Combine	—	✓Works alongside the XM bonus

Bonus terms are set by XM and may change. Check the latest terms in the XM Members Area.

08 Who is it for

Who Is XM For?

A good fit for

Beginners who want to start with as little as $5
Traders of gold (GOLD) and major currency pairs
Traders who want a website and support in their own language
High-volume traders who pair the Ultra Low account with a rebate to cut costs

May not suit

Scalpers who need raw spreads near 0 pips like an ECN account (see the Exness review and HFM review for raw-spread accounts)
Traders who want European- or Australian-level licence protection
People who open an account and leave it unused (a fee applies after 90 days of inactivity)

09 How to start

How to Open an XM Account and Get Rebates

It takes less than 10 minutes. Open through the 1TRADER link so your account is linked to rebates automatically.

Click the sign-up link
Open an XM account through the 1TRADER link and enter the partner code
Open an XM accountNONFX
Fill in your details & choose an account
Choose the MT4/MT5 platform and a Standard or Ultra Low account.
Verify your identity
Upload a government-issued photo ID and proof of address in the XM Members Area.
Deposit & start trading
Deposit from $5, start trading and get your rebate automatically every day.

10 FAQ

XM FAQ

Is XM a legitimate and safe broker?

Accounts opened through 1TRADER are with XM Global Limited, regulated by the FSC of Belize (licence no. 8557558). Every account has negative balance protection, but an offshore licence like this protects investors less than a European or Australian licence. XM Global does not serve residents of certain countries, such as the US, Canada, Israel and Iran. Only invest money you can afford to lose.

What is the XM minimum deposit?

The minimum deposit is $5 for Standard and Ultra Low accounts and $10,000 for the Shares account.

What is the difference between XM Standard and Ultra Low?

Ultra Low has lower spreads (EURUSD averages about 1.1 pips versus 2.0 pips on Standard) and is swap-free on major FX pairs, gold and silver, but it is not eligible for bonuses. Standard gets bonuses and a higher 1TRADER rebate, e.g. $18/lot on gold versus $9/lot.

What fees does XM charge?

Standard and Ultra Low accounts have no commission; the main costs are the spread and swap (if you hold overnight). XM charges no deposit or withdrawal fees, but a monthly fee applies once an account is inactive for more than 90 days. The Shares account charges commission per share.

I already have an XM account. Can I get rebates?

Accounts opened with another partner or directly with XM may not be transferable. The easiest way is to open a new account through the 1TRADER link or with code NONFX, then contact the 1TRADER team to confirm.

What is XM's maximum leverage?

Standard and Ultra Low accounts offer up to 1:1000, which falls as your balance grows. The Shares account has no leverage. High leverage increases both potential profit and the risk of loss.

11 Sources & Fact-check

Sources and Fact-Checking

We rely mainly on XM's official website and documents, and use independent reviews only for data XM does not publish (such as average spreads). Last checked 9 Oct 2026.

Sources

XM — Homepage (xm.com)Official · 20M+ users, 1,400+ instruments, spreads from 0.8 pips, 92.9% of withdrawals auto-approved, no withdrawal fees
XM — Account types (xm.com/account-types)Official · 3 accounts, $5 / $10,000 minimum deposit, negative balance protection on all accounts, FSC licence 8557558
XM Global — Client Agreement (PDF)Official · client agreement, client money and assets section
Forex FanClub — XM Account TypesIndependent (24 Sep 2026) · contract size, leverage, max lots, bonus, swap-free
ForexBrokers.com — XM ReviewIndependent (4 Sep 2026) · average EURUSD spread, 4.5/5 rating, inactivity fee
BrokerChooser — About XMIndependent · founded 2009, parent company and regional group companies

Verification notes

ConfirmedFSC Belize licence 8557558 (matches on both XM's Thai and English sites) · an older Client Agreement still shows number 000261/309, which predates SIA 2021
Confirmed$5 minimum deposit / Shares $10,000 · negative balance protection on all accounts · Islamic option available
Confirmed9 Oct 2026, against XM's account types page: Standard gets bonuses · Ultra Low and Shares do not · Micro size available on both Standard and Ultra Low · max leverage 1000:1 · stop out 20% (Shares 0%) · minimum EURUSD spread 1.6 / 0.8 pips · 20M+ users, 1,400+ instruments, 92.9% of withdrawals auto-approved per the XM homepage
CorrectedThe “92.9% of withdrawals auto-approved” stat now cites the XM homepage [1] (previously the founding year) · the rebate payout is now stated as “paid automatically every day” per the current rebate system
CorrectedUsers: 15 million → 20 million+ per XM's current website
CorrectedSpread “from 0.6 / 1.0 pips” → “from 0.8 pips” per XM, now using average spreads from an independent source
CorrectedWithdrawal time “1–5 days” (no official source) → 92.9% auto-approval rate per XM
CorrectedInactivity fee: sources disagree ($5 or $10/month), so we only state “after 90 days”

Trade with XM, Get Cashback on Every Lot

Open your account through 1TRADER with code NONFX to get up to $18/lot back on gold, paid automatically every day.

Open an XM account See all rebate rates

Risk warning: Forex and CFDs are complex instruments with a high risk of losing money rapidly due to leverage, and you may lose all of your investment. This content is for information only and is not investment advice. Broker information is as of 9 Oct 2026 and may change; check XM's website before opening an account. XM Global does not provide services to residents of certain countries, such as the US, Canada, Israel and Iran; it is your responsibility to make sure trading with an offshore broker is permitted where you live · Review scores are the opinion of the 1TRADER team · 1TRADER receives a commission for referring clients to XM.

XM Review Summary: Pros and Cons

Our verdict

+ XM pros

! Things to watch

Is XM Safe? Licensing and Regulation

XM Account Types: Which One Should You Choose?

QUIZ Which XM account suits you?

Standard (Micro)

Standard

Ultra Low (Micro)

Ultra Low

Shares

Standard Micro

Standard

Ultra Low

Shares

XM Trading Costs After Rebates

Real cost per lot · EURUSD

Rebate per lot on popular symbols

XM Monthly Rebate Calculator

XM Trading Platforms

MetaTrader 4

MetaTrader 5

XM App

XM Deposits and Withdrawals

XM Bonus vs Rebate: What's the Difference?

Who Is XM For?

A good fit for

May not suit

How to Open an XM Account and Get Rebates

Click the sign-up link

Fill in your details & choose an account

Verify your identity

Deposit & start trading

XM FAQ

Sources and Fact-Checking

Sources

Verification notes

Trade with XM, Get Cashback on Every Lot