Is XM regulated?
Our XM evidence log contains 5 regulatory records, with all 5 findings confirmed against regulator-authored sources (last read 2026-09-23). Records can include historical corrections and limited-scope authorisations; they are not a count of current trading licences. That includes tier-1 oversight from ASIC. Regulation is entity-specific: your protections depend on which XM legal entity onboards you, not on the brand.
Last updated September 2026·Licence statuses reflect our most recent read of each register; regulators update registers daily — verify current terms with the broker before you deposit.·How we score
Licence records and findings from the registers
Verified means we read the stated finding in a regulator-authored source. Where no number is published, only the entity is confirmed. Historical records do not establish current authorisation.
| Legal entity | Regulator | Licence | Our check | Register |
|---|---|---|---|---|
| TPXMGLOBAL Kenya Limited | CMA Kenya · Tier 2 | 233 | Verified on register checked 2026-08-22 | Source |
| Trading.com Markets Pty Ltd (formerly Trading Point of Financial Instruments Pty Ltd) | ASIC Australia · Tier 1 | 443670 | Verified on register checked 2026-09-15 | Source |
| Trading Point of Financial Instruments Ltd | CySEC Cyprus · Tier 2 | 120/10 | Verified on register checked 2026-06-19 | Source |
| Trading Point MENA Limited | DFSA Dubai · Tier 2 | F003484 | Verified on register checked 2026-06-19 | Source |
| XM Global Limited | FSC Belize · Offshore | 8557558 | Verified on register checked 2026-09-23 | Source |
Notes from our checks
- CMA 233: Read first-hand on the CMA Kenya licensees register 2026-08-22: licence No. 233 held by TPXMGLOBAL Kenya Limited.
- ASIC 443670: CORRECTED 2026-09-15 after a first-hand read of ASIC Professional Registers Search (search 443670): the licensee is now 'TRADING.COM MARKETS PTY LTD (formerly known as TRADING POINT OF FINANCIAL INSTRUMENTS PTY LTD)', status Current, AFSL 443670, commenced 23/12/2013, ABN 32 164 367 113, WeWork L13 333-339 George St Sydney. We had published the former name. This also explains the entity's absence under its old name from ASIC Report 828's list of active retail CFD issuers. Whether XM-branded retail services are offered in Australia under this AFSL still needs XM's own Australian disclosure.
- DFSA F003484: F003484 is XM's (not XTB's).
- FSC 8557558: Read first-hand on 23 September 2026 in the FSC Belize LicenSys public search: XM GLOBAL LIMITED, Licence/Registration Number 8557558, status Active, registration date 1 January 2025; categories: Trading in Securities as Principal; Arranging Transactions in Securities. The register displays the broker domain. The new register does publish licence/registration identifiers, superseding our previous note that no number was visible. Our old value 000261 is retained here as history; it has been replaced by the current register identifier. This is a record update, not a finding of broker misconduct.
Which XM entity would onboard you?
The brand is not the counterparty. The legal entity on your client agreement sets your regulator, compensation cover, leverage cap and terms.
| Legal entity | Regulator | Typically onboards | Compensation | Leverage |
|---|---|---|---|---|
| TPXMGLOBAL Kenya Limited Kenya | CMA (Kenya) (Tier 2) | KE | None identified | See terms |
| Trading Point of Financial Instruments Ltd Cyprus (EU/EEA) | CySEC (Tier 2) | IE, DE, FR, ES, IT, NL, BE, AT, PT, PL, SE, DK, FI, GR, CZ, HU, RO, BG, HR, SK, SI, EE, LV, LT, LU, MT, CY, IS, LI, NO | ICF — up to €20,000 if the firm fails (not for trading losses) | Retail CFD leverage capped at 30:1 (ESMA rules). |
| Trading.com Markets Pty Ltd Australia | ASIC (Tier 1) | AU | None identified | Retail CFD leverage capped at 30:1 (ASIC rules). |
| Trading Point MENA Limited United Arab Emirates (DIFC) | DFSA (Tier 2) | AE | None identified | See terms |
| XM Global Limited Belize | FSC Belize (Offshore) | Most other countries (rest-of-world default) | No compensation scheme. | Higher leverage available; weaker investor protection than tier-1 entities. |
Resolve the likely entity for your country with the entity checker, then confirm the entity named on your client agreement before you deposit.
What the licences actually give you
Three protections worth checking by name. Any of them can be missing even when a broker is licensed somewhere.
| Compensation scheme | ICF up to €20,000 (CySEC clients) |
| Segregated client fundsSegregated fundsClient money held in bank accounts kept separate from the broker's own funds, so it isn't used to run the business and is easier to return if the firm fails. | Yes, per the broker's disclosures |
| Negative-balance protectionNegative-balance protectionA safeguard that stops your account going below zero, so you can't end up owing the broker more than you deposited. Mandatory for retail clients in some regions. | Yes, for retail clients where the regulator requires it |
| UK entity (retail) | 30:1 |
| EU entity (retail) | 30:1 |
| Australian entity (retail) | 30:1 |
| South African entity | 1000:1 |
| International / offshore entity | 1000:1 |
What we got wrong about XM, and fixed
Every correction stays public. It is the clearest evidence that these numbers are checked rather than copied.
- Stale statusASIC · corrected 2026-09-15
Had: ASIC AFSL 443670 held by 'Trading Point of Financial Instruments Pty Ltd'
Register shows: AFSL 443670 is Current, but the licensee has been renamed 'Trading.com Markets Pty Ltd' (former name Trading Point of Financial Instruments Pty Ltd) — read 2026-09-15
- Stale statusFSC · corrected 2026-09-23
Had: Belize FSC identifier 000261
Register shows: XM Global Limited — Active, licence/registration identifier 8557558 in FSC LicenSys (read 23 September 2026)
All corrections across the database are analysed in the licence-confusions study.
Verify these licences in five minutes
Never take a licence claim from a broker page, or from us, without reading the register.
- 1. Note the exact legal entity and licence number from the table above, or from the client agreement you would sign.
- 2.Open the regulator's own register from the links below, never from a link the broker hands you, and search that number.
- 3. Match the entity name and number exactly, check the status is active or authorised, and look for a clone-firm warning naming the brand.
XM regulation: common questions
Is XM regulated?
Our XM evidence log contains 5 regulatory records, with all 5 findings confirmed against regulator-authored sources (last read 2026-09-23). Records can include historical corrections and limited-scope authorisations; they are not a count of current trading licences. That includes tier-1 oversight from ASIC. Regulation is entity-specific: your protections depend on which XM legal entity onboards you, not on the brand.
Is XM regulated by the FCA?
No. None of the XM entities in our records holds an FCA authorisation. UK residents should treat any FCA claim for this brand as unverified until they find the exact legal entity on the FCA register themselves.
Is XM regulated by ASIC?
Trading.com Markets Pty Ltd (formerly Trading Point of Financial Instruments Pty Ltd) is recorded with ASIC licence 443670 (Australia, tier-1). Our check: verified on the register, last read 2026-09-15.
Is XM regulated by CySEC?
Trading Point of Financial Instruments Ltd is recorded with CySEC licence 120/10 (Cyprus, tier-2). Our check: verified on the register, last read 2026-06-19.
Is XM regulated by DFSA?
Trading Point MENA Limited is recorded with DFSA licence F003484 (Dubai, tier-2). Our check: verified on the register, last read 2026-06-19.
Is XM regulated by CMA?
TPXMGLOBAL Kenya Limited is recorded with CMA licence 233 (Kenya, tier-2). Our check: verified on the register, last read 2026-08-22.
Is XM regulated by FSC?
XM Global Limited is recorded with FSC licence 8557558 (Belize, offshore). Our check: verified on the register, last read 2026-09-23.
Which XM entity would I be onboarded by?
Our map lists 5 XM legal entities (Kenya, Cyprus (EU/EEA), Australia, United Arab Emirates (DIFC) and Belize). A listing does not establish retail account availability: consultation or introduction entities and institutional-only firms are not retail trading-account routes. Which company applies depends on your country and client agreement. Use the entity checker for the likely match, then confirm it before depositing.
Does XM have investor compensation?
ICF up to €20,000 (CySEC clients). Compensation schemes pay out only if the firm itself fails and cannot return client money; they never cover trading losses, and they apply only to clients of the specific licensed entity, not to every XM client worldwide.
Has the FCA published a warning naming XM?
Not in the warnings we hold (FCA clone-firm and unauthorised-firm warnings from mid-2026 onwards, refreshed weekly). Absence is not clearance: search the FCA warning list for the brand and any name a caller gives you.
Has XM been fined or warned by a regulator?
We hold no sourced regulator action for XM as of 2026-09-23. Absence from our log is not a clean bill: check the enforcement and warning pages of each regulator named above before depositing.
Next step
The full research file on XM covers real costs and withdrawal friction alongside this regulation evidence, or compare it with alternatives available in your country.
Related
- XM review
- XM fees and charges: what XM's own documents show
- XM Inactivity Fee Explained
- XM withdrawal fees, limits and processing times
- How to verify a broker licence yourself
- How to read a regulator register entry
- Broker brand vs legal entity: who holds your money
- FSCS, ICF and broker compensation schemes explained
Informational research only, not financial advice. Regulatory status changes; verify directly on the official registers before depositing. Being licensed is not the same as being suitable for you, and no licence protects against trading losses.