XM (Trading Point of Financial Instruments Ltd)

Founded

2009

Legal entity (EU)

Trading Point of Financial Instruments Ltd, Cyprus company no. HE 251334Cyprus Registrar of Companies; CySEC register

Incorporated

19 June 2009, CyprusCyprus Registrar of Companies

Registered office

12 Richard and Verengaria Street, Araouzos Castle Court, 3rd Floor, 3042 Limassol, CyprusCySEC register

Regulator (EU entity)

CySEC, licence 120/10, authorised 5 August 2010CySEC register

Authorised investment services

Reception and transmission of orders; execution of orders on behalf of clients; dealing on own accountCySEC register

EEA passporting

Cross-border services notified in 29 EEA statesCySEC register

Investor compensation

Member of the Cyprus Investor Compensation Fund; cover up to EUR 20,000 or 90% of the claim, whichever is lowerAs stated in XM's risk disclosure for financial instruments

Retail leverage

2:1 to 30:1 depending on the asset; negative balance protection for retail clientsAs stated in XM's risk disclosure for financial instruments

Brand owner

Trading Point Holdings Ltd, Cyprus company no. HE 322690, registered 5 June 2013XM partner site; Cyprus Registrar of Companies

Group entity (Dubai)

Trading Point MENA Limited, DFSA reference F003484, licensed 10 September 2019DFSA public register

Group entity (Kenya)

TPXMGLOBAL Kenya Limited, Capital Markets Authority licence 233, non-dealing online foreign exchange brokerCMA Kenya register of licensees

XM is an online broker through which clients trade contracts for difference (CFDs) on currency pairs, shares, exchange-traded funds, stock indices, commodities and crypto indices. For clients in the European Economic Area the brand is run by Trading Point of Financial Instruments Ltd, a private company incorporated in Cyprus in June 2009 with its registered office in Limassol. Clients can trade through the XM App, and the brand also runs a copy trading service in which traders follow strategies published by others.

The Cypriot company has been authorised by the Cyprus Securities and Exchange Commission (CySEC) since August 2010 under licence 120/10. The CySEC register lists it for receiving and transmitting orders, executing orders for clients and dealing on own account, and records cross-border services into the other EEA states. The company says it is a member of Cyprus's Investor Compensation Fund, which can pay eligible clients up to EUR 20,000 or 90 per cent of a covered claim, whichever is lower. Retail clients face leverage limits of between 2:1 and 30:1 depending on the asset, and the company states that their losses cannot exceed the balance of their account.

XM is a trading name of Trading Point Holdings Ltd, a company registered in Limassol in 2013. Other companies in the group hold licences outside the EU, among them Trading Point MENA Limited, licensed by the Dubai Financial Services Authority since 2019, and TPXMGLOBAL Kenya Limited, licensed by Kenya's Capital Markets Authority as a non-dealing online foreign exchange broker.