Overall, XM gives Singaporeans access to global markets with competitive spreads, flexible leverage, and multiple platforms. It accepts clients under offshore regulation and supports popular funding methods.
MAS has blocked XM since June 2025 due to the lack of regulatory compliance. However, existing Singaporeans’ funds will not be affected as XM addresses the situation.
- Louis Schoeman
Updated : May 22, 2025
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 | Minimum Deposit: $5 Regulated by: FSC, CySEC, ASIC Leverage: Up to 1:1000 |
Who Is XM? Company Snapshot for Singapore
| 🔍Category | 🌎Details |
| 🏦Singapore Office Address | Not listed. XM does not have a physical office in Singapore. |
| 📧Email Support | Available via [email protected] and through the contact form on the website. |
| 📞Phone Support (Singapore) | No Singapore-specific number. Global support: +501 223-6696 |
| 💬Live Chat | Yes. 24/7 live chat available through the XM website. |
| ⏱️Customer Support Hours | 24/7 multilingual support across chat, email, and phone. |
| ⏳Office Operating Hours | Not specified. Head office in Belize lists hours on official documents. |
| 🌐Official Website | https://www.xmza.com/ |
| 🚀 Sign up | Open Account |
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Is XM Regulated in Singapore? What Traders Need to Know
XM accepts clients in Singapore under offshore regulation. It is not licensed by the Monetary Authority of Singapore (MAS).
However, it operates legally under several international entities, each overseen by a different financial authority. These licences have other conditions, depending on the regulator.
| Regulator / Authority | Region / Country | License / Registration No. | Status / Description |
| FSC – Financial Services Commission | Mauritius | 000261/397 | Offshore regulation. Allows bonuses and higher leverage. |
| FSA – Financial Services Authority (Seychelles) | Seychelles | SD010 | Offshore licence. Bonus-friendly. High leverage. No investor protection scheme. |
| IFSC – International Financial Services Commission | Belize | 000261/106 | Offshore licence. Allows promotional activity and flexible account types. |
| CySEC – Cyprus Securities and Exchange Commission | Cyprus | 120/10 | EU-authorised firm under MiFID. Offers investor protection schemes and capped leverage. |
| ASIC – Australian Securities and Investments Commission | Australia | 443670 | Regulated under strict local conditions. No bonuses. Lower leverage. |
| FCA – Financial Conduct Authority | United Kingdom | 705428 | UK regulation applies to XM UK clients only. Offers FSCS protection. |
Are client funds segregated with XM?
Yes, to maintain financial stability, XM separates client funds from operational funds.
How does XM protect against price manipulation?
Because XM has transparent pricing and is regulated, the risk of price manipulation is reduced.
| Minimum Deposit: $5 Regulated by: FSC, CySEC, ASIC Leverage: Up to 1:1000 |
What XM Trading Accounts Are Available in Singapore?
XM offers a Standard, Ultra Low, and Shares Account. Each of these suits different traders from Kenya, from short- to mid- and long-term traders. All accounts allow you to hedge, use EAs, and trade micro lots.
| 🔍Live Account | 💵Minimum Dep. | 📝Sign up | 📈Average Spread | 💴Commissions |
| 🥈Standard | 7 SGD ($5) | Open Account | 1 pip | None |
| 🥉XM Ultra-Low | 7 SGD ($5) | Open Account | 0.6 pips | None |
| 🏆Shares | 13,300 SGD ($10,000) | Open Account | Per exchange | Yes – per share traded |
Standard Account
| 🔍Account Feature | 🌟Value |
| ➡️Position Size | 100,000 base currency units = 1 Lot |
| ⬆️Maximum Leverage Ratio | Up to 1:1000 |
| ❌Negative Balance Protection Applied? | Yes, to all retail accounts |
| 📌The average spread on all major forex pairs | 1 pip EUR/USD |
| 💵Commission charges | None |
| ⬆️Maximum open or pending orders per trader | 300 lots |
| ⬇️Minimum trade volume | 0.1 lot |
| 💡Hedging allowed? | Yes |
| ⚙️Lot Restrictions per trade | 50 lots |
| ☪️Is an Islamic Account offered? | Yes |
| 💴Minimum Deposit Requirement | 7 SGD ($5) |
| ✅ Advantages | Micro lot support, swap-free on request, bonus availability |
| 📝Sign up | Open Account |
Ultra-Low Account
| 🔍Account Feature | 🌟Value |
| ➡️Position Size | Standard Ultra – 100,000 = 1 lot Micro Ultra – 1,000 = 1 lot |
| ⬆️Maximum Leverage Ratio | Depends on the Account Balance: $5 – 40,000 – 1:1 – 1:1000 $40,001 – $80,000 – 1:1 – 1:500 $80,001 – $200,000 – 1:1 – 1:200 $200,001+ – 1:1 – 1:100 |
| ❌Negative Balance Protection Applied? | Yes, to all retail accounts |
| 📌The average spread on all major forex pairs | 0.6 pips EUR/USD |
| 💵Commission charges | None |
| ⬆️Maximum open or pending orders per trader | 300 lots |
| ⬇️Minimum trade volume | Standard Ultra – 0.01 lots Micro Ultra – 0.1 lots |
| 💡Hedging allowed? | Yes |
| ⚙️Lot Restrictions per trade | Standard Ultra – 50 lots Micro Ultra – 100 lots |
| ☪️Is an Islamic Account offered? | Yes |
| 💴Minimum Deposit Requirement | 7 SGD ($5) |
| ✅ Advantages | No commissions, lower spreads, swap-free option, micro lots supported |
| 📝Sign up | Open Account |
Shares Account
| 🔍Account Feature | 🌟Value |
| ➡️Position Size | 1 Share |
| ⬆️Maximum Leverage Ratio | None |
| ❌Negative Balance Protection Applied? | Yes, to all retail accounts |
| 📌The average spread on all major forex pairs | According to the exchange |
| 💵Commission charges | From $1 per share |
| ⬆️Maximum open or pending orders per trader | 50 lots |
| ⬇️Minimum trade volume | 1 lot |
| 💡Hedging allowed? | None |
| ⚙️Lot Restrictions per trade | It will depend on each share |
| ☪️Is an Islamic Account offered? | Yes |
| 💴Minimum Deposit Requirement | 13,300 SGD ($10,000) |
| ✅ Advantages | Access to real stocks, no derivatives, no leverage risk |
| 📝Sign up | Open Account |
Demo Account
| 🔍Account Feature | 🌟Value |
| 💻 Trading Platforms | 1 Share |
| 🛠️ Features | None |
| 🏆 Best For | Yes, to all retail accounts |
| 📌The average spread on all major forex pairs | According to the exchange |
| 📝Sign up | Open Account |
Islamic Account
| 🔍Account Feature | 🌟Value |
| 💻 Trading Platforms | MT4, MT5, XM App |
| 📉 Spread Pips | Matches whichever account type you’ve chosen |
| 💰 Minimum Deposit | $5 (Standard/Ultra Low), $10,000 (Shares) |
| 📈 Maximum Leverage | Up to 1:1000 (Standard/Ultra Low), 1:1 (Shares) |
| 💹 Markets Offered | All markets tied to the selected account |
| 🏆 Best For | Traders who require interest-free trading due to religious practices |
| ✅ Advantages | No overnight swap fees, applies to all live accounts on approval |
| 📝Sign up | Open Account |
What is the XM Ultra Low account?
The XM Ultra Low account has lower spreads than other account types and is ideal for traders searching for low-cost trading.
Are all trading instruments available in each account type?
No, while most trading instruments are available across all account types, some are account-specific.
How to Open an Account Step-by-Step
To open an account with XM, Singaporeans can follow these steps:
Step 1: Go to the official website and click on the “Open an Account” Banner
Step 2: Complete the Online application form
Select the trading platform type, account type, account base currency, and leverage for your trading account.
Step 3: Wait for a confirmation email from XM
To access XM’s Customer Reviews page, click the link in the email to authenticate your email address.
Is there a demo version of the XM trading platforms?
Yes, XM provides a demo account to practice trading on their platforms.
How many charts can I display simultaneously on XM's platforms?
On XM’s MetaTrader 5 platform, you can view up to 100 charts simultaneously.
XM vs XTB vs Octa – Broker Comparison
| 🔍Broker | 🥇XM | 🥈XTB | 🥉Octa |
| ⌛Regulation | FSCA, IFSC, ASIC, CySEC, DFSA, FCA | FCA, ACPR, BaFin, DFSA, KNP, FSCA, CySEC, IFSC | CySEC, SVG FSA |
| 📊Trading Platform | MetaTrader 4 MetaTrader 5 XM Mobile App | xStation 5 xStation Mobile | MetaTrader 4 MetaTrader 5 OctaTrader Octa App |
| 💴Withdrawal Fee | None | Yes, <$50 withdrawals | None |
| 🗂️Demo Account | Yes | Yes | Yes |
| 💵Min Deposit | 7 SGD | 0 SGD | 33 SGD |
| ➡️Leverage | 1:1000 | 1:500 | 1:500 |
| 📝Spread | 0.7 pips | From 0.5 pips | 0.6 pips |
| 💷Commissions | $1 to $9 | None on most instruments | None |
| 🛑Margin Call/Stop-Out | 50%/20%, 100%/50% (EU) | 100%/50% | 25%/15% |
| 🧑⚖️Order Execution | Market, Instant | Market | Market |
| ❌No-Deposit Bonus | None | None | None |
| 💰Cent Accounts | None | None | None |
| 🗂️Account Types | Micro Account Standard Account XM Ultra-Low Account Shares Account | Standard Account Swap-Free Account | OctaTrader Account Octa MetaTrader 4 Octa MetaTrader 5 |
| ⌛MAS Regulation | None | None | None |
| 💶SGD Deposits | Yes | None | None |
| 🗂️SGD Account | Yes | None | None |
| ⏰Customer Service Hours | 24/7 | 24/5 | 24/7 |
| 🗂️Retail Investor Accounts | 4 | 2 | 3 |
| ☪️Islamic Account | Yes | Yes | Yes |
| ⬇️Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| ⬆️Maximum Trade Size | 100 lots | Not indicated | 500 lots |
| ⬇️Minimum Withdrawal Time | 1 working day | 1 Working Day | 1 – 3 hours |
| ⬆️Maximum Estimated Withdrawal Time | 5 working days | 7 Working Days | 1 – 3 hours |
| 💳Instant Deposits and Instant Withdrawals? | Yes, deposits | None | Yes, Deposits |
| 📝Sign up | Open Account | Open Account | Open Account |
Is there a demo version of the XM trading platforms?
Yes, XM provides a demo account to practice trading on their platforms.
How many charts can I display simultaneously on XM's platforms?
On XM’s MetaTrader 5 platform, you can view up to 100 charts simultaneously.
| Minimum Deposit: $5 Regulated by: FSC, CySEC, ASIC Leverage: Up to 1:1000 |
Which Platform Can You Use with XM in Singapore?
You can trade with XM in Singapore using MetaTrader 4 (MT4), MetaTrader 5 (MT5), the XM App, or MT5-based copy trading. Each option supports different trading styles, platform preferences, and device access.
XM offers Singaporean traders the following Trading Platforms:
MetaTrader 4
MT4 offers access to all core instruments and remains supported across desktop, mobile, and web. It’s compatible with Expert Advisors and well-suited to those already familiar with the platform.
Key Features
- Trade Forex, indices, metals, and commodities from one terminal.
- Use EAs and trading bots built in MQL4.
- Enable one-click trading directly from chart view.
- View trades in real-time with live execution.
- Set alerts and use custom indicators.
- Works on Windows, macOS, mobile, and browser.
- Supports account types with and without commission.
Best for: Traders already using MT4 or those who rely on custom EAs and scripts.
MetaTrader 5
MT5 is XM’s most complete trading platform, with access to every instrument they offer, from forex and shares to crypto and thematic indices. It includes more features than MT4 and is supported on desktop, mobile, and web.
Key Features
- Trade Forex, stocks, crypto, indices, and more from one account.
- View live liquidity with built-in Depth of Market (DOM).
- Place six types of pending orders for tailored trade control.
- Access integrated economic calendar updates directly on the platform.
- Build and test trading tools with MQL5 programming support.
- Sync across devices without resetting your session.
- Trade using a faster 64-bit, multi-threaded architecture.
Best for: Traders who want full asset access, platform speed, and advanced trading functions.
XM Mobile App
The XM App gives you access to your trading, funding, and account support from one mobile platform. It’s built specifically for traders who prefer to manage everything directly from their phone.
Key Features
- Trade forex, indices, metals, energy, shares, and crypto CFDs.
- Deposit or withdraw funds from within the app.
- Open, verify, and manage your account from start to finish.
- Connect to live support via chat without switching apps.
- Track news, updates, and market data without using third-party tools.
- Log in to MT4 or MT5 accounts without having to re-authenticate.
- Works on both Android and iOS with regular updates.
Best for: Traders who want a complete mobile experience, including account management and trading.
XM Copy Trading (via MT5 Signals)
XM supports copy trading through the MT5 platform using its integrated Signals service. It allows you to follow and automatically mirror trades from signal providers who publish their performance.
Key Features
- Connect to verified trading signals directly inside the MT5 terminal.
- Copy trades automatically without manual intervention.
- Access hundreds of strategies with performance tracking.
- No additional software or third-party account linking required.
- Set your volume settings and risk preferences.
- Cancel or pause signals at any time.
- Works on desktop and mobile versions of MT5.
Best for: Traders who want to follow other strategies without managing trades themselves.
Is there a demo version of the XM trading platforms?
Yes, XM provides a demo account to practice trading on their platforms.
How many charts can I display simultaneously on XM's platforms?
On XM’s MetaTrader 5 platform, you can view up to 100 charts simultaneously.
XM Asset Classes: What’s Available to Singapore Traders?
XM gives Singapore-based traders access to a broad set of CFD instruments across global markets. These include forex, equities, crypto, indices, commodities, and more. Local stocks and regional assets aren’t listed, but key international markets and themes are well covered.
XM offers Singaporean traders the following Trading Instruments:
| Market Type | Market Description | Examples/Popular Instruments | Reasons Why Singaporean Traders Should Be Familiar With This Type |
| 🏦 Forex CFD | Trade over 55 currency pairs including majors, minors, and exotics. | EUR/USD, USD/JPY, GBP/USD, AUD/SGD, USD/SGD | Currency trading is active in Singapore. |
| 📈 Stocks CFD | Equity CFDs from US, UK, and EU markets across major sectors. | Apple, Tesla, Amazon, JPMorgan, HSBC, Pfizer | Allows equity exposure without needing access to overseas brokers or stock accounts. |
| 📊 Indices CFD | Index CFDs track the performance of large national or regional markets. | US100, GER40, JP225, UK100, HK50 | Lets you speculate on market-wide trends without trading individual stocks. |
| 🚀 Crypto CFD | CFDs on major digital assets, tradable 24/7 with leverage. | BTC, ETH, XRP, LTC, BCH | Popular with Singaporean traders familiar with crypto but preferring regulated, leveraged access. |
| 🛢️ Energies CFD | Oil and gas CFDs available in spot and futures-style formats. | WTI Crude, Brent Crude, Natural Gas | Crude oil is closely followed in Singapore due to regional energy ties and trade flows. |
| 🛢️Commodities CFD | Soft commodity contracts traded as CFDs without physical delivery. | Coffee, Corn, Cocoa, Cotton, Sugar | Lets you diversify into agricultural markets with leveraged exposure. |
| 🏦 Precious Metals CFD | Trade popular metals with flexible lot sizing and no physical settlement. | Gold, Silver, Platinum, Palladium | Gold and silver remain popular as hedge instruments among Singaporean investors. |
| 📈 Turbo Stocks CFD | Short-term stock trades using higher leverage and lower margin requirements. | Apple, Tesla, Nvidia, Netflix | Suitable for traders looking to take positions on small moves in large-cap global stocks. |
| 📊 Thematic Indices CFD | Curated index baskets reflecting specific themes or trends in the global economy. | Clean Energy, AI, Tech Disruption, ESG | Lets you follow themes relevant to global tech and sustainability sectors without picking stocks. |
| 📈 Shares Account (Real) | Direct ownership of listed shares on US and EU exchanges (non-CFD). | NYSE and NASDAQ-listed shares, select EU stocks | Suitable for long-term investors who want actual share ownership with no leverage or swaps. |
What financial instruments can I trade with XM?
XM provides forex trading and CFDs on stocks, indices, commodities, and cryptocurrencies.
Are there any market-specific promotions with XM?
No, there are none. However, while XM does not normally give market-specific promos, it offers generic bonuses and promotions that can be applied to various markets.
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XM Broker Fees: Spreads, Swaps, and Hidden Costs
XM applies variable trading fees depending on your account type, activity level, and funding currency.
There are no fees for deposits or withdrawals on their side, but traders in Singapore should still account for possible external costs such as currency conversions and swaps. Here’s what to expect:
Spreads and Commissions
Spreads vary by account type and are built into the pricing for most trades. Only real stock trades on the Shares Account involve a direct commission.
| Account Type | Spread (EUR/USD) | Commission |
| Standard Account | From 1.6 pips | None |
| Ultra Low Account | From 0.8 pips | None |
| Shares Account | Market-dependent | Charged per trade (varies by exchange) |
Spreads are not fixed. During major news or lower liquidity hours, pricing can widen. XM quotes market prices sourced from multiple providers, and commission details on stock trades are available before each order is placed.
Overnight Fees
XM charges swap fees when you keep a position open past the daily close (22:00 GMT). These are calculated based on the interest rate difference between the currencies in a pair or the cost of holding a CFD.
- Rates can be either credited or debited, depending on the asset.
- Triple swaps are charged on Wednesdays to account for weekends.
- Swap rates are visible in MT4 and MT5 and through XM’s online calculator.
- Islamic accounts approved by XM are swap-free, although a separate holding cost may apply for longer-term positions.
Inactivity Fees
Inactive accounts with funds are charged a monthly fee if there has been no trading or login activity for 90 days.
- $5 per month is deducted until the balance reaches zero or activity resumes.
- No fee is charged on accounts with a zero balance.
- The account remains open but limited until reactivated.
Withdrawal Fees
XM does not charge withdrawal fees. However, your payment provider may.
- No fee from XM for bank transfers, cards, or e-wallet withdrawals.
- XM does not cover any fees charged by banks, intermediaries, or e-wallets.
- If you fund or withdraw in SGD, check if your method supports conversion-free transfers to avoid extra costs.
| Minimum Deposit: $5 Regulated by: FSC, CySEC, ASIC Leverage: Up to 1:1000 |
Currency Conversion Fees
If your base currency is not the same as your trading or deposit currency, XM will apply a live exchange rate.
- XM uses market-based rates, which include a small spread.
- Most Singaporean traders will use USD or EUR as their base account currency.
- SGD is not supported as a base currency, so conversion applies to all SGD deposits or withdrawals.
Other Costs
There are no surprise fees, but some optional services are priced separately, for example:
- VPS Service: Free if you hold over $500 and trade 5+ lots per month. Otherwise, it costs $28 per month.
- Third-party transaction fees: External fees from your bank or payment provider may apply, depending on the method used.
- Shares Account-specific costs: Stock trading may also include exchange or settlement charges, depending on the asset and venue.
Are XM’s spreads variable or fixed?
XM typically charges variable spreads.
Do XM’s spreads differ between forex pairs?
Yes, spreads can differ based on the currency pair being traded.
How Do You Fund or Withdraw with an XM Account?
XM accepts deposits and processes withdrawals through multiple channels suitable for Singapore traders. Verification is required before you can withdraw.
| Feature | Details |
| Deposit Methods | Credit/Debit Cards (Visa, Mastercard, Maestro, UnionPay), Bank Wire Transfers, E-wallets (Skrill, Neteller, others), XM Card (where available) |
| Deposit Fees | None from XM |
| Withdrawal Methods | Same as deposits |
| Withdrawal Fees | None from XM (bank wire below $200 may incur third-party fees) |
| Processing Time | 24 hours internally; same day to 5 business days externally |
| Minimum Deposit | $5 for FX accounts; $10,000 for Shares account |
| Minimum Withdrawal | $5 (FX), $50 (Ultra Low), $10,000 (Shares) |
| Verification Required | Full KYC verification needed before first withdrawal |
How to Deposit Funds to XM
- Log in to your XM client portal.
- Choose your preferred deposit method.
- Enter the amount and required payment details.
- Submit the deposit request.
- Most card and e-wallet deposits are credited instantly.
- Bank wire transfers may take between 30 minutes and up to 5 business days.
- Ensure your minimum deposit matches your account type.
How to Withdraw Funds with XM
- Access your XM client area and select withdrawal.
- Choose the withdrawal method previously used for deposit.
- Enter the withdrawal amount, meeting the minimum requirement.
- Submit the withdrawal request.
- E-wallet and UnionPay withdrawals usually process within 24 hours.
- Credit/debit card withdrawals are processed within 24 hours internally, but may take longer depending on the card issuer.
- Bank transfers typically take 2–5 business days after XM processes the request.
- Verify your identity with approved documents before the first withdrawal.
XM Educational Tools and Market Research Reviewed
XM provides Singapore traders with a diverse set of educational resources and market analysis tools. These help build knowledge, monitor market conditions, and make informed trading decisions without relying on generic content.
| Tool | Description | Purpose for Traders |
| Scalping & Price Action Tutorials | Step-by-step guides on scalping techniques and real-time price action trading methods. | Helps Singapore traders refine quick-entry strategies and read market movements with precision. |
| Currency Converter | Live tool that converts amounts between currencies at current exchange rates. | Useful for calculating deposit values or managing trades across USD, EUR, or SGD currency pairs. |
| Reuters News | Up-to-date reports on global economic and political events impacting financial markets. | Keeps traders informed on key news that could influence forex and equity markets relevant to Singapore. |
| Learning Centre | Structured education offering videos, articles, and interactive materials across skill levels. | Enables Singapore traders to develop skills at their own pace, from beginner basics to advanced techniques. |
| Webinars | Daily live sessions in multiple languages covering strategies, risk management, and analysis. | Allows traders in Singapore to engage with experts, ask questions, and deepen understanding on practical topics. |
| XM Live | Real-time trading rooms hosted by market analysts, including pair breakdowns and indicator use. | Offers Singapore traders live insight and trade ideas in an interactive environment focused on current market trends. |
| Daily Analysis | Market outlooks and trade ideas prepared by XM’s analysts with technical and fundamental input. | Provides regular market commentary tailored to global markets impacting Singaporean portfolios. |
| XM TV & Podcast | Video and audio content exploring trading topics, interviews, and market commentary. | Gives Singapore traders flexible ways to consume market insights and improve trading knowledge on the go. |
| Economic Calendar | Detailed schedule of economic events, releases, and forecasts with volatility ratings. | Helps traders in Singapore anticipate market-moving events and plan trades around major announcements. |
| Trading Calculators | Tools including margin, pip value, and swap calculators for precise trade cost and risk estimation. | Supports position sizing and risk management specific to account types and leverage used by Singapore traders. |
| Minimum Deposit: $5 Regulated by: FSC, CySEC, ASIC Leverage: Up to 1:1000 |
XM Promotions, Loyalty Rewards, and Trading Credits
XM offers several ways for Singapore traders to boost their trading capital and rewards through active participation. These programmes reward deposits, referrals, loyalty, and skillful trading, with clear conditions to keep track of.
Bonus Type Max Value Withdrawable? Key Conditions 100% Deposit Bonus $15,000 Profits only Requires weekly registration, trading milestones, and deposits Refer a Friend Bonus $80 per referral Yes The referred trader must deposit and start trading XM Traders Club Coins Varies Yes (if redeemed) Earned by trading volume; redeemable for bonuses and rewards Monthly Competitions Up to $100,000 Yes No entry fee; prizes awarded based on trading skill
100% Deposit Bonus – Up to $15,000
XM offers a deposit bonus where you can receive a match of your funds up to $15,000 over four weeks. To take part, you must register each week, trade selected assets, and make deposits. The bonus itself cannot be withdrawn, but profits made from it can.
Refer a Friend Bonus
You can earn up to $80 for every person you refer who signs up, deposits, and starts trading. There is no limit on how many referrals you can make, and the bonus goes straight into your trading account.
XM Traders Club (Loyalty Program)
Every lot you trade earns you XM Coins, which you can exchange for cash, bonuses, or trading tools. The programme welcomes all verified traders and rewards ongoing activity.
Monthly Competitions
XM holds monthly contests with cash prizes up to $100,000. Open to traders of all levels, these competitions require no entry fee and can be joined using demo or live accounts. Success is based on trading skill rather than deposit size or volume.
Are the XM bonuses withdrawable?
Yes, they are. However, Singaporeans must read each bonus with specific withdrawal terms and conditions.
Do XM bonuses expire?
Yes, some XM bonuses expire. Furthermore, expiry terms for bonuses are usually specified in the promotional details.
XM Referral and IB Program Explained
XM offers two main ways for Singaporeans to earn commission by referring new clients: a one-off payment for each client acquired or ongoing revenue based on trading volume. Both programmes come with added rewards through XM’s loyalty system.
Client Referral Bonus (CPA Model)
This programme rewards you with a fixed payment for each new trader you bring to XM who registers, deposits, and trades.
- Suitable if you prefer upfront earnings without managing client trades.
- Referrals must be new and genuine traders, verified by XM.
- No rewards for self-referrals or related accounts.
- Earn up to $1,000 per qualified client.
- Commission is paid once after the client meets the deposit and trading criteria.
- No ongoing commissions beyond the initial payment.
Lot-Based Revenue Share (IB Model)
This option pays commission on your referrals’ trading activity for as long as they remain active.
- Eligible for XM Partner Rewards Program (XRP) points.
- Requires consistent client engagement and volume.
- Payouts update in real time via the Partner Platform.
- Receive up to $80 per lot traded by your clients.
- Income grows with client trading volume over time.
- Encourages long-term relationships with active traders.
What is the role of an XM Personal Account Manager?
A Personal Account Manager will work with you to optimize your affiliate activities.
Are there any ongoing XM incentives and rewards for affiliates?
Yes, XM organizes contests regularly and provides ongoing incentives and awards.
| Minimum Deposit: $5 Regulated by: FSC, CySEC, ASIC Leverage: Up to 1:1000 |
Customer Support
| 🫴🏻Customer Support | 🌟XM Customer Support |
| ⏰Operating Hours | 24 hours a day, 7 days a week |
| 🫴🏻Support Languages | Multiple languages including English, Mandarin, Malay, and others |
| 🗣️Live Chat | Available around the clock; typical response time under a minute during busy periods |
| 💻Email Address | Support accessible via online contact form; replies usually within 24 hours |
| ☎️Telephonic Support | Available 24/7 from Belize offices: +501 2236696, +501 2279421 |
| 5️⃣The overall quality of XM Support | Responsive, multilingual team handling technical, account, and trading queries professionally |
XM Achievements and Global Rankings
XM has earned recognition at multiple international events that clearly show its excellent service quality, trading conditions, and platform experience. These awards underline XM’s position as a competitive broker, especially in Asia and the Middle East.
🗓️ Year 🏅 Award Title 🌍 Event / Notes 2025 Worldwide Leading Broker Money Expo Abu Dhabi 2025 Best Customer Service CFI.co 2025 Best Trading Execution CFI.co 2025 Best Trading Competitions in MENA Smart Vision Summit, Oman 2025 Best User Experience in Trading The Global Economics
| Minimum Deposit: $5 Regulated by: FSC, CySEC, ASIC Leverage: Up to 1:1000 |
Is XM Involved in Social Responsibility Projects?
Yes, XM is actively involved in social responsibility projects across Asia, focusing on education, health, environmental conservation, and community support.
In 2025, XM supported education initiatives for teenagers in Vietnam, emphasising the transformative power of learning and technology. The broker also provided aid to flood survivors in Indonesia, helping dozens of families recover from natural disasters.
Health programmes include partnering with the Husma Foundation to assist children with cancer in Sri Lanka. In Singapore, XM worked with local groups to offer underprivileged children educational visits to the Science Centre, encouraging inclusion and curiosity.
Environmental efforts feature tree planting in Indonesia to improve air quality and prevent soil erosion. Additionally, XM has helped orphans celebrate festivals in Malaysia and Brunei, reinforcing community solidarity.
Our Final Thoughts: Is XM Worth It for Singaporean Traders?
Yes, XM is worth it. XM offers Singapore traders access to international markets with competitive spreads and high leverage. While the Monetary Authority of Singapore does not regulate it, its multiple offshore licences provide a degree of oversight.
The account types accommodate both newcomers and experienced traders, with minimum deposits starting at five dollars and an option for direct share ownership at higher levels.
The platform choice is versatile, covering MT4, MT5, and a dedicated mobile app. Deposits and withdrawals are handled through familiar methods, though SGD is not supported as a base currency, meaning conversion fees apply.
Educational materials and market analysis tools are extensive and well-suited to traders seeking to build their skills. Customer support operates 24/7, albeit without a local office or Singapore-specific phone line.
Overall, XM fits those who are comfortable with offshore brokers who want broad market access and flexible trading conditions.
Key Advantages and Drawbacks of XM
| 🟢 Pros | 🔴 Cons |
| Accepts Singapore clients under multiple offshore licences | Not licensed by the Monetary Authority of Singapore (MAS) |
| Low minimum deposit starting at $5 | No local office or Singapore-specific phone support |
| Offers both MetaTrader 4 and 5 platforms | SGD is not available as a base account currency |
| Tight spreads available on Ultra Low account | Currency conversion fees apply for SGD deposits and withdrawals |
| Flexible leverage up to 1:1000 | Shares account requires $10,000 minimum deposit |
| Swap-free accounts available on request | Bonuses require weekly registration and trading targets |
| Singapore’s bilingual populace benefits from XM’s multilingual customer care | Swap fees can reduce profitability for overnight traders, especially in long-term strategies |
| Minimum Deposit: $5 Regulated by: FSC, CySEC, ASIC Leverage: Up to 1:1000 |
XM Review Detailed Summary
| 🏦Headquartered | Belize |
| 🌎Global Offices | Belize, South Africa, Australia, Cyprus, Dubai |
| ➡️Local Market Regulators in Singapore | Monetary Authority of Singapore (MAS) |
| 💶Foreign Direct Investment in Singapore | 195 billion USD (2022) |
| 💷Foreign Exchange Reserves in Singapore | 461.1 billion SGD (November 2023) |
| 🫴🏻Local office in Singapore? | None |
| 👤Governor of SEC in Singapore | None, the chairman of the MAS is Lawrence Wong |
| ✔️Accepts Singapore Traders? | Yes |
| 🔢Year Founded | 2009 |
| ☎️Singapore Office Contact Number | None |
| 💻Social Media Platforms | Facebook X YouTube |
| ⌛Regulation | FSCA, IFSC, ASIC, CySEC, DFSA, FCA |
| 1️⃣Tier-1 Licenses | Australian Securities and Investments Commission (ASIC) Financial Conduct Authority (FCA) |
| 2️⃣Tier-2 Licenses | Financial Sector Conduct Authority (FSCA) Dubai Financial Services Authority (DFSA) Cyprus Securities and Exchange Commission (CySEC) |
| 3️⃣Tier-3 Licenses | International Financial Services Commission (IFSC) |
| 🔢License Number | Belize – 000261/158 South Africa – 49976 Australia – ABN 32 164 367 113, AFSL 443670 Cyprus – 120/10 Dubai – F003484 United Kingdom – 705428 |
| ⌛MAS Regulation | None |
| 🌎Regional Restrictions | The United States, Canada, Israel, the Islamic Republic of Iran |
| ☪️Islamic Account | Yes |
| 🗂️Demo Account | Yes |
| 💜Non-expiring Demo | Yes, if it remains in use |
| ⏱️Demo Duration | Unlimited, but inactive accounts expire after 90 days |
| ↘️Retail Investor Accounts | 4 |
| 🌟PAMM Accounts | None |
| 📌Liquidity Providers | Unknown |
| 🤝Affiliate Program | Yes |
| 🧑⚖️Order Execution | Market, Instant |
| 👉OCO Orders | None |
| 🖥️One-Click Trading | Yes |
| ✴️Scalping | Yes |
| 💡Hedging | Yes |
| 🗣️Expert Advisors | Yes |
| 📰News Trading | Yes |
| ✏️Trading API | None |
| 📝Starting spread | From 0.6 pips |
| ⬇️Minimum Commission per Trade | From $1 per share |
| 5️⃣Decimal Pricing | 5th Decimal after the comma |
| 🔟Margin Call | 50% to 100% (EU) |
| 🛑Stop-Out | 20% to 50% (EU) |
| ⬇️Minimum Trade Size | 0.01 lots |
| ⬆️Maximum Trade Size | 100 lots |
| 🫴🏻Crypto trading offered? | Yes |
| 🫴🏻Offers an SGD Account? | None |
| 👤Dedicated Singaporean Account Manager? | None |
| ⬆️Maximum Leverage | 1:1000 |
| ⛔Leverage Restrictions for Singaporeans? | None |
| 💵Minimum Deposit (SGD) | 7 SGD ($5) |
| 💴Deposit Currencies | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
| 💷SGD Deposits Allowed? | None |
| 💶Account Base Currency | USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR |
| ☑️Active Singaporean Trader Stats | 50,000+ |
| ☑️Active Singapore-based XM customers | Unknown |
| 📆Singapore Daily Forex Turnover | 1.2 million SGD |
| 💳Deposit and Withdrawal Options | Credit Card Debit Card Bank Wire Transfer Local Bank Transfer Skrill Neteller WebMoney |
| ⏰Minimum Withdrawal Time | 1 working day |
| ⏱️Maximum Estimated Withdrawal Time | 5 working days |
| 🎉Instant Deposits and Instant Withdrawals? | Yes, deposits |
| 🗂️Segregated Accounts with Singaporean Banks? | None |
| 📊Trading Platforms | MetaTrader 4 MetaTrader 5 XM Mobile App |
| ⏰Trading Platform Time | UTC +03:00 |
| 🧐Observe DST Change | Yes |
| ⌚DST Change Time zone | Eastern European Time (EET) |
| 🛢️Tradable Assets | Forex Cryptocurrencies Stock CFDs Commodities Equity Indices Precious Metals Energies Individual Shares Turbo Stocks |
| 🫴🏻Offers USD/SGD currency pair? | Yes |
| 💵USD/SGD Average Spread | 20 pips |
| 🫴🏻Offers Singapore Stocks and CFDs | Yes, Singapore 30 Cash Index |
| 🗣️Languages supported on the Website | English, Malaysian, Chinese Simplified, Chinese Traditional, Russian, French, Italian, German, Polish, Spanish, Portuguese, and several others |
| 🗣️Customer Support Languages | Multilingual |
| 🫴🏻Copy Trading Support | Yes |
| ⏰Customer Service Hours | 24/7 |
| 👥Singapore-based customer support? | None |
| 🎁Bonuses and Promotions for Singaporean Traders | Yes |
| 🎓Education for Singaporean beginners | Yes |
| 💻Proprietary trading software | Yes |
| 🌟Most Successful Trader in Singapore | Chew Wei Xiang (±$70 million assets under management) |
| 🔍Is XM a safe broker for Singaporean Traders? | Yes |
| 9️⃣Rating for XM Singapore | 9/10 |
| 9️⃣Trust score for XM Singapore | 90% |
| 📝Sign up | Open Account |
| Minimum Deposit: $5 Regulated by: FSC, CySEC, ASIC Leverage: Up to 1:1000 |
XM Review Citations and Data Sources
- FSC Mauritius (License No. 000261/397)
- FSA Seychelles (SD010)
- IFSC Belize (000261/106)
Frequently Asked Questions
Is XM available in Singapore?
Yes, Singaporeans can open an account with XM.
Withdrawals from CMTrading normally take 1 to 3 business days, depending on the withdrawal method and the client’s bank processing times.
What is the minimum deposit for XM in Singapore?
In Singapore, the minimum deposit for XM is 7 SGD ($5), making it accessible to a wide variety of traders.
Is XM regulated?
Yes, XM might not be regulated by the MAS in Singapore but is regulated by ASIC, IFSC, CySEC, FSC, DFSA, and FSCA.
Is XM Safe or a Scam?
XM is an extremely trustworthy and secure broker for Singaporeans, boasting a trust score of 90%.
What trading platforms does XM offer?
XM offers MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms and XM App. These platforms are appropriate for both novice and expert traders.
Is XM regulated and safe for Singaporean traders?
Yes, XM is controlled by several renowned regulatory agencies, including ASIC and CySEC, ensuring customer money’s safety and fair trading procedures.
How long does it take to withdraw from XM?
The withdrawal process typically takes between 1 to 5 business days. Nevertheless, some customers have expressed grievances about experiencing longer wait periods exceeding those specified by XM.
Can traders in Singapore access leverage with XM?
Yes, Singapore traders can use leverage of up to 1:1000 on the MT5 platform with XM.
Does XM have VIX 75?
No, VIX 75 is not offered by XM. However, various other indices are available for trade on their platform, including the Singapore 30 Cash Index.
Does XM provide any educational resources?
Yes, XM provides a wide range of educational materials for traders, including seminars, educational films, platform tutorials, and XM Live podcast-style resources.
Does XM have Nasdaq 100?
Yes, you can access the cash index of Nasdaq as US100 with competitive spreads starting from only 1.10 pips through XM.
Does XM offer a demo account?
Yes, XM offers a demo account for traders to practice and become acquainted with the platform before trading with real money.
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