XM

XM broker is one of the most widely used forex brokers in the world; on its official website it states that more than 20 million traders have used its platform and more than 13.5 billion trades have been executed on its platforms. A $5 minimum deposit, stable leverage and extensive educational resources have made this broker attractive to beginners. In this overview, we have reviewed XM's licenses, accounts, payments and risks based on Teagle's data, with one important note: XM explicitly does not serve Iranians.

What kind of broker is XM?

According to Teagle's data, XM is registered in Cyprus; its year of establishment is not recorded in Teagle's data. The broker provides access to more than 1400 assets, including forex, precious metals, stock indices, cryptocurrencies, thematic indices, shares, Turbo Stocks, commodities and energy. In its introduction, XM relies on two claims: spreads from 0.8 pips and execution with no requotes and no rejections. Teagle's expert considers it an established, high-quality broker in terms of product, with one of the best educational ecosystems in the market.

XM broker licenses and credibility

According to Teagle's latest review, XM holds two active licenses:

• CySEC Cyprus (Cyprus Securities and Exchange Commission, number 251334), under European Union law;
• FSC (Financial Services Commission, number GB23202700).

The CySEC license gives this broker good credibility, but the FSC license falls into the offshore category with weaker oversight, and European protections usually apply only to clients in that jurisdiction. Deposit insurance is also listed among XM's features. We have explained the differences between these levels in the guide to broker regulation tiers and the article offshore and onshore brokers .

Does XM serve Iranians?

No. According to Teagle experts' inquiry with the broker's support, XM does not provide services to Iranians and has stated this explicitly. Its website does not support Persian, and access from Iran requires changing your IP. For this reason, Teagle experts recommend that Iranian users turn to reputable brokers that officially serve Iranians.

XM trading accounts

XM offers three main accounts on MetaTrader 4, MetaTrader 5 and the XM app:

• Standard account: $5 minimum deposit, no commission, floating spreads from 1.6 pips and leverage up to 1:1000; according to the FAQ, this account is designed with a focus on bonuses.
• ULTRA LOW account: $5 minimum deposit, no commission, spreads from 0.8 pips, leverage up to 1:1000 and an Islamic version; suitable for high-volume traders.
• SHARES account: $10000 minimum deposit, with commission and 1:1 leverage for trading shares.

The stop-out level on the Standard and ULTRA LOW accounts is 20 percent, and no requotes are recorded on any account. Regarding the Islamic account, Teagle's table lists it as "not available" for the Standard account, but the FAQ says both accounts have an Islamic option; ask the broker about this before opening an account. Negative balance protection is active on all accounts.

XM stable leverage and platforms

One of XM's distinctive features is "Stable Leverage": leverage of up to 1:1000 is not reduced even during high volatility and major news such as NFP, which prevents sudden stop-outs caused by margin changes. That said, high leverage still carries high risk; read the guide to leveraged trading and leverage and the article forex economic calendar to manage trades during news releases. Platforms include MetaTrader 4 and 5 with Windows, Mac, web, Android and iOS versions, plus the XM app. Scalping, hedging and the use of expert advisors are also allowed.

Additional services, deposits and withdrawals at XM

XM's additional services include bonuses, cashback, copy trading, expert advisors and trading bots, education, an economic calendar, forex calculators and a refer-a-friend program; PAMM accounts are not offered. See brokers' active bonuses on the broker bonuses page . According to Teagle's payment table, all methods, including bank wire, credit card, e-wallet and local transfer, have a $5 minimum deposit and withdrawal and are free. Withdrawals by card, e-wallet and local transfer are instant and processed on the same business day, while bank wire takes 2 to 5 business days.

XM's rating and risk on Teagle

XM's final rating on Teagle is 3.38 out of 5, calculated as the average of four sources: WikiFX 4.5, Teagle expert 4, Forex Peace Army 2.8 and Trustpilot 2.2. No reviews from Teagle users have been submitted yet. The Teagle Eye risk score for this broker is 43 out of 100, in the "medium risk" category; its two active licenses keep it low, while the unrecorded year of establishment and the low Trustpilot rating push it up.

Pros and cons of XM broker

• Pro: $5 minimum deposit and free, fast withdrawals
• Pro: negative balance protection and stable leverage during news
• Pro: more than 1400 assets and a CySEC license
• Con: does not serve Iranians and requires changing your IP
• Con: no Persian language
• Con: no PAMM account

Who is XM suitable for?

XM is suitable for international traders residing in permitted countries, beginners starting with very little capital and extensive educational resources, and those for whom stable leverage during news matters. It is not a suitable option for Iranian traders or those who need Rial deposits and Persian support. For a comparison with a competitor with a low minimum deposit, see the XM vs FBS comparison .

Conclusion

XM broker is one of the good global options in terms of product, cost and education, but its explicit policy toward Iran puts it out of reach for Iranian users. If you live outside Iran, start with small capital, make a test withdrawal and follow the latest warnings on the risk warning page .