XM

What XM does

XM is a privately held retail forex and contract-for-difference (CFD) broker operating under the legal entity Trading Point of Financial Instruments Limited (HE251334) and the holding company Trading Point Holdings Ltd. Founded in 2009 and headquartered in Limassol, Cyprus, XM serves over 20 million registered clients across 190+ countries through seven global offices (Cyprus headquarters plus engineering in Nicosia, sales in Dubai, regional coverage in Athens, Sydney and Kazakhstan, plus an entity licensed by Kenya's CMA since February 2026). The firm holds a multi-jurisdictional regulatory stack spanning CySEC (license 120/10, with EU passporting), ASIC, IFSC, DFSA, FSCA and SCA Category 5 (UAE), and is led operationally by Co-Founder Constantinos Cleanthous and Co-CEO Stavri Morti.

XM's product surface centers on access to 1,400+ tradable instruments — major and minor FX pairs, equity indices, individual stocks, precious metals, energies and commodities — delivered through MetaTrader 4 and MetaTrader 5 (with PC, Mac, WebTrader, iOS and Android clients), an in-house Ultra Low Account and Zero Account tiering system, and supplementary modules including an Economic Calendar, Trading Calculators, Copy Trading and a Partner Program of more than 250,000 affiliates. The platform layer is supplemented by a research stack built on Reuters news feeds, the XM Market Intelligence team's daily analysis, an XM Podcast, XM TV video content, and a free integration of Trading Central's analytical tools (valued at approximately $10,000/month retail). Proprietary execution technology claims 99.4% of trades executed in under one second with no requotes or rejections and 92.9% automatic withdrawal approval.

Revenue is generated primarily through bid-ask spreads, overnight swap/rollover fees and fixed commissions on Zero Accounts, augmented by acquisition and retention promotions (deposit bonuses up to $52,500, cashback up to $7 per lot, referral economics up to $150 per referral) that are restricted for EU retail clients under ESMA bonus rules. Client concentration sits at the long tail — individual retail and professional traders — with no enterprise anchors and no disclosed revenue or ARR figures in the source material. XM monetizes distribution through its affiliate channel and lifecycle through copy trading, monthly trading competitions with over $100,000 in prizes, and the recently launched XM Funded League paid prop-style competition.

Name

XM

Legal name

Trading Point of Financial Instruments Limited

Website

https://www.xm.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

XM is a privately held, multi-jurisdictional retail forex and CFD broker serving over 20 million clients in 190+ countries with 1,400+ tradable instruments on MT4/MT5 and a 250,000+ partner affiliate network.

Ownership category

akta.pro rank

Headquarters

HQ city

Belize City

HQ country

Belize

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Forex and CFD Trading Spreads/Commissions: Primary revenue from the difference between bid and ask prices (spreads) on forex and CFD instruments. Ultra Low accounts offer low spreads with no commissions; Zero accounts offer fixed commissions with spreads as low as zero. Over 1,400 tradable instruments available.
2. Swap/Overnight Fees: Rollover interest charges for positions held overnight, determined by interest rate differentials between traded currencies or leverage costs for non-Forex CFD products. Swap rates applied based on position side (long/short).
3. Promotional Deposit Bonuses: Deposit bonus promotions (100% up to $500, up to $35,000, up to $52,500) used as acquisition and retention tools. Cashback promotions (up to $7 per lot traded) drive engagement.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels11 records

Core offering

XM is a multi-regulated online broker offering retail traders access to over 1,400 tradable instruments across forex, CFDs on stocks, equity indices, commodities, precious metals, and energies. Its core offering centers on MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms delivered via desktop, WebTrader, and native iOS/Android apps, complemented by two primary account types (Ultra Low and Zero) and proprietary execution technology.

Product overview

XM is a multi-awarded online forex and CFD broker offering access to over 1,400 tradable instruments including currency pairs, stocks, commodities, precious metals, energies, and equity indices. The core offering centers on MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms available across PC, Mac, WebTrader, and mobile devices, complemented by two primary account types: Ultra Low Account (for high-volume traders with low spreads and swap fees) and Zero Account (with fixed commissions and spreads as low as zero). XM differentiates through integrated tools including the Research Portal (Reuters News, Daily Market Analysis, XM Podcast, XM TV), Trading Central analytical tools (AI-powered sentiment analysis, technical insights, strategy building), and educational content via Live Education sessions. The platform is complemented by Copy Trading, Trading Competitions (including the XM Funded League), and a Partner Program for affiliates. XM is regulated by multiple authorities including CySEC, ASIC, IFSC, DFSA, FSCA, and newly acquired Kenya CMA and UAE SCA licenses.

Differentiator

Problem solved

Functional benefit

Brands

• MT4 (MetaTrader 4): One of the world's most popular trading platforms offered by XM with over 50 indicators and charting tools
• MT5 (MetaTrader 5)
• XM Partner Program
• Copy Trading

Products and services

• MetaTrader 4 (MT4) Trading Platform One of the world's most popular forex trading platforms offered by XM, available across PC, Mac, WebTrader, tablet, and iOS/Android. Features 50+ built-in indicators and charting tools, Expert Advisor (algorithmic trading) support via MQL4, and 1-click trading. Targeted at retail and professional forex/CFD traders globally.
• MetaTrader 5 (MT5) Trading Platform XM's multi-asset trading platform with 58+ indicators, 44 analytical objects, Expert Advisor support via MQL5, and 1-click trading, available on PC, Mac, WebTrader, tablet, and mobile (iOS/Android). Designed for traders who want access to broader asset classes beyond forex.
• Ultra Low Account A trading account type designed for high-volume traders, featuring low spreads, lower swap fees, and no commissions. Minimum deposit of $5, with negative balance protection, hedging, and Islamic (swap-free) account options as standard features.
• Zero Account A trading account type that allows traders to control trading costs with fixed commissions and spreads as low as zero. Includes negative balance protection, hedging, and Islamic account options as standard.
• Social Copy Trading A social copy trading service that allows XM clients to automatically replicate the strategies of thousands of successful traders on the platform, enabling less experienced users to follow proven performers.
• XM Partner Program An affiliate/partner program with over 250,000 global partners offering unlimited commissions on referred client trades, instant payments and withdrawals, a Partners Rewards Program, and an extra 10% from sub-affiliate earnings. Includes marketing materials and global reach across 190 countries.
• XM Funded League A paid demo trading competition offering participants a share of $60,000 in funded trading accounts across four competitions, with a $15,000 daily prize pool, $5 entry fee, and up to five re-entries per participant. Open to retail traders globally.

Quantifiable outcome

• 13.5+ billion trades executed with zero requotes or rejections
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

AI capability7 records

Feature6 records

Partnerships

18 partnerships are on record, tiered minor and core.

• Cyprus Computer Society (Robotex)minorGTM or Marketing Partner · 27 June 2026Cyprus Computer Society hosted the ninth Robotex Pancyprian Robotics Competition. XM mentioned as supporting partner. Event had approximately 700 participants.
• Robotex InternationalminorStrategic or Co-development Partner · 27 June 2026Robotex International CEO Nathan Matsala attended Cyprus Robotex event to preview 2026 finals in South Korea, the first time global event left Estonia.
• Sukses FilantropiminorStrategic or Co-development Partner · 5 May 2026XM partnered with Sukses Filantropi to provide medical checkups and essential aid to communities affected by floods in Tangerang, Banten (February 2026).
• CyHRMA (Bronze Sponsor)minorGTM or Marketing Partner · 1 May 2026XM participated as Bronze Sponsors at the 2026 Annual Conference of Cyprus Human Resources Management Association (CyHRMA).
• XM as Title Sponsor of XM Limassol Marathon 2026coreStrategic or Co-development Partner · 21 March 2026XM served as title sponsor of the XM Limassol Marathon 2026 (March 21-22, 2026), expected to draw over 17,000 runners from approximately 68 countries. The marathon partnered with the Pancyprian Multiple Sclerosis Association to support people living with MS. XM branding prominently featured throughout the event.
• AmdocsminorGTM or Marketing Partner · 21 March 2026Amdocs served as partner alongside XM for the FIRST LEGO League Cyprus 2026 robotics competition held at European University Cyprus.
• ANT1 GroupminorGTM or Marketing Partner · 1 January 2026ANT1 Group served as communication sponsor for the XM Limassol Marathon 2026.
• McDonald's CyprusminorGTM or Marketing Partner · 1 January 2026McDonald's Cyprus sponsored the kids race category at the XM Limassol Marathon 2026.
• 365 Foundation and 365 Dream TeamminorGTM or Marketing Partner · 1 January 2026Enabled a young woman named Christia to participate using a specialized wheelchair at the XM Limassol Marathon 2026.
• WeTest Athens 2026 (Gold Sponsor)minorGTM or Marketing Partner · 1 January 2026XM participated as Gold Sponsors at WeTest Athens 2026, a QA testing conference. Had booth presence and led round table discussions.
• University of CypruscoreStrategic or Co-development Partner · 1 January 2026XM established the first 'XM Chair of Artificial Intelligence' at University of Cyprus, a 10-year initiative bridging academic research and real-world innovation. Professor Constantine Dovrolis appointed to this role.
• Research and Innovation FoundationminorStrategic or Co-development Partner · 1 January 2026Provided support for teams representing Cyprus at international robotics competitions including events in US, Australia, and Greece.
• EduactminorStrategic or Co-development Partner · 1 January 2026Organizational collaborator for FIRST LEGO League Cyprus 2026 alongside Cyprus Computer Society and IET Cyprus.
• IET CyprusminorStrategic or Co-development Partner · 1 January 2026Organizational collaborator for FIRST LEGO League Cyprus 2026 under auspices of Education Ministry.
• European University CyprusminorStrategic or Co-development Partner · 1 January 2026Hosted FIRST LEGO League Cyprus 2026 robotics competition venue.
• Loukas GiorkasminorGTM or Marketing Partner · 1 November 2025XM collaborated with Cypriot singer Loukas Giorkas to create a song celebrating Cypriot villages and traditions as part of 'Think of the Village' CSR program.
• Color & Light Center for Children with AutismminorStrategic or Co-development Partner · 1 January 2025Ongoing CSR partnership supporting children with autism through healthcare and wellbeing initiatives.
• Santa Shoebox (SSP)minorGTM or Marketing Partner · 1 January 2025XM partnered with Santa Shoebox (SSP) for CSR initiative to make a difference in communities.

Scale indicators10 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• IC Markets: IC Markets is a leading global retail forex and CFD broker offering MT4/MT5 and cTrader with low spreads. Highly comparable to XM in target customer (active retail traders), product set (forex, CFDs on indices, commodities, equities), execution model (ECN), and global multi-jurisdictional licensing footprint.
• Pepperstone: Pepperstone is an Australian-headquartered retail FX/CFD broker offering MT4/MT5 and cTrader with tight spreads. Comparable to XM in product offering, global multi-regulation footprint, focus on active traders, and aggressive spread/commission-based pricing.
• Exness: Exness is one of the largest retail forex brokers globally by trading volume, offering MT4/MT5 with multi-jurisdictional regulation. Directly comparable to XM in scale (>1M active clients), product mix (forex, CFDs), and emerging-markets orientation.
• FxPro: FxPro is a UK/Cyprus-headquartered retail FX and CFD broker offering MT4/MT5 and cTrader with strong multi-jurisdictional regulation. Comparable to XM in regulatory architecture, product set, and direct-to-consumer retail targeting.
• FXTM (ForexTime): FXTM is a Cyprus-headquartered retail forex and CFD broker with strong emerging-markets presence and MT4/MT5 platforms. Highly comparable to XM in regulatory jurisdiction (CySEC), target customers (retail traders in EM), and product set.
• Tickmill: Tickmill is a multi-regulated retail FX/CFD broker with CySEC, FCA, and FSA licenses offering MT4/MT5 platforms. Comparable to XM in regulation profile, ECN-style execution, low-spread pricing, and retail trader focus.
• Admirals (Admiral Markets): Admirals is an Estonia/Cyprus-headquartered retail forex and CFD broker with CySEC, FCA, and ASIC regulation. Comparable to XM in product set, MT4/MT5 delivery, and retail trader focus, with similar emphasis on education and analytics add-ons.

Broad incumbents

• eToro: eToro is a publicly-listed multi-asset retail trading and social-investing platform. Comparable to XM in retail forex/CFD offering and global footprint, but broader in scope with equities, ETFs, and crypto and a stronger social-copy-trading orientation.
• IG Group: IG Group is a large publicly-listed multi-asset retail broker with deep regulatory footprint. Overlaps XM in retail forex/CFDs but operates a broader portfolio (spread betting, stockbroking, exchange-traded products) and serves UK and US markets XM cannot.
• OANDA: OANDA is a global retail FX and CFD broker with proprietary trading tech and US licensing. Comparable to XM in retail forex/CFD offering and multi-jurisdictional regulation, but differentiated by US access, a proprietary platform, and broader institutional presence.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/xmglobal
• Facebookfacebook.com/xmglobal
• LinkedInlinkedin.com/company/xm-global
• Xx.com/XM_COM

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about XM