Broker entity check
XM is a brand, not a company. The company you get is chosen by your address. Below: the verdict for all 12 countries in our dataset, the entity behind each, and its regulator — checked on October 22, 2026.
Facts checked on October 22, 2026
XM's own structure is the whole lesson of this site: CySEC for the EEA, a CMA-licensed entity for Kenya, and Belize for the rest of the world. South Africa is the trap: XM's FSCA-licensed company (XM ZA (Pty) Ltd) is authorised as an intermediary only — South African accounts are still issued by XM Global Limited in Belize, so the local licence does not protect the account itself. Its affiliate program pays $25–$1,000 per client or up to 60% revenue share.
Advertised minimum deposit: $5 — that is the accepted minimum from the platform's own pages. The viable minimum on your rails is on your country's page; the two numbers are rarely the same story.
| Your country | Verdict | The entity that would hold your account | Its regulator | Home-regulator status |
|---|---|---|---|---|
| Nigeria | Deposit with eyes open — offshore entity | XM Global Limited | FSC Belize | |
| India | Your regulator warns against this route | XM Global Limited | FSC Belize | Named on the RBI Alert List |
| Philippines | Your regulator warns against this route | XM Global Limited | FSC Belize | Named on an SEC Philippines advisory |
| Brazil | Deposit with eyes open — offshore entity | XM Global Limited | FSC Belize | |
| South Africa | Deposit with eyes open — offshore entity | XM Global Limited | FSC Belize | |
| Pakistan | Your regulator warns against this route | XM Global Limited | FSC Belize | Home-regulator position bars or warns against this route |
| Kenya | Deposit has real protection | TPXMGLOBAL Kenya Limited | CMA (Kenya) | |
| Indonesia | Your regulator warns against this route | XM Global Limited | FSC Belize | Home-regulator position bars or warns against this route |
| United States | Not accepted — don't try workarounds | Does not accept residents | — | |
| United Kingdom | Deposit with eyes open — offshore entity | XM Global Limited | FSC Belize | |
| European Union (EEA) | Deposit has real protection | Trading Point of Financial Instruments Ltd | CySEC (Cyprus) | |
| Australia | Deposit with eyes open — offshore entity | XM Global Limited | FSC Belize |
Run your exact pair through the checker for the five-line verdict with your regulator's status and your rails.
The free check gives you the verdict for one country and one broker. The Deposit Safety Kit gives you the complete walkthroughs: how to verify the entity in the broker's own legal footer, where on your regulator's site the register and the warning lists live, how to read a compensation scheme, and the first-withdrawal test protocol — deposit small, withdraw first, then decide.
Included in the $39 Deposit Safety Kit
Sources: the brokers' own legal and entity pages as published on the check date; the Reserve Bank of India Alert List; the UK Financial Conduct Authority Register and Warning List; the Australian Securities and Investments Commission registers; Bappebti (Indonesia) licensed and blocked lists; CVM (Brazil) declaratory acts; the FSCA (South Africa) FSP register; the Capital Markets Authority (Kenya) licensee list; the Securities and Exchange Commission (Philippines) advisory list; SECP/PMEX (Pakistan) membership; SEC Nigeria and Central Bank of Nigeria publications. Affiliate bounty figures from the programs' own published terms (Exness, XM, Plus500, eToro affiliate pages). If a fact has moved since our check date, the regulator's or broker's own publication wins — and write to help@doogex.com so we can correct ours.